Pakistan Stock Exchange’s benchmark KSE-100 index closed at a record high of 71,465 points, up 0.8 per cent, after breaching the key 71,000 level on Monday. The KSE-100 index gained 631.86, or 0.89 per cent, to stand at 71,541.76 points at 11:38am from the previous close of 70,909.90. The index closed at 71,433.46 points, up by 523.56 points or 0.74pc, from the previous close. The index has
Foreign Direct Investment (FDI) jumped by 51.7 per cent to $258 million in March compared to $170m in the same month last year. Higher FDI inflows amid prevailing economic and political uncertainties, particularly after the general elections, would help the new government improve the country’s image abroad through economic reforms. However, the State Bank of Pakistan data released on Monday
Finance Minister Muhammad Aurangzeb has stated that Pakistan is on track to secure a new loan from the International Monetary Fund (IMF), adding that the money lender had been “very receptive in terms of agreeing to consider a larger, longer programme”. He made the remarks in an interview with The National published on Monday. The finance minister and his team were in Washington last week to
Mari Petroleum Company Ltd (MPCL) announced on Monday that it had discovered a new hydrocarbon resource in Daharki, Sindh. The state-owned company said in a statement that the well produced 1,040 barrels of oil and 2.5 million standard cubic feet per day of associated gas during the Shawal-1 exploratory well test. Shawal-1 well was spud-in on Jan 27 and successfully drilled 1,136 metres into
Shanghai Electric Power Company withdrew its offer to acquire up to 66.4 per cent of K-Electric Ltd, the manager of the offer said in a notice to the Pakistan Stock Exchange on Monday. The deadline for making a firm offer for the K-Electric stake expired on April 20 and Shanghai Electric has withdrawn its bid, Arif Habib Ltd, the manager said in the notice to the bourse. KE is the only elect