After the transfer of container terminal, the government has decided in principle to hand over the bulk and general cargo terminal at Karachi Port’s East Wharf to Abu Dhabi Ports through a government-to-government deal under the Inter-Governmental Commercial Transaction Act, 2022. To implement the decision, the cabinet committee on inter-governmental commercial transactions (CCoIGCT), led by Fi
The Securities and Exchange Commission of Pakistan (SECP) has advised borrowers to review the legal status of digital applications before signing up for loans, as Google introduced a new policy to protect Pakistani consumers from fake loan apps. After an extensive commission meeting, the SECP stated on Wednesday that borrowers should read and evaluate the disclosures regarding fees, late paym
The stock market closed on the lower side on Monday after recording range-bound trading for the third consecutive session. Analysts cited the rapidly rising electricity cost along with higher tax rates for the corporate sector under the International Monetary Fund programme as reasons for the drop in share prices. Arif Habib Ltd called the dip short term in nature while noting that the decli
An interesting tussle is on within the expanded Organisation of Petroleum Exporting Countries, the OPEC+. To some, propping up the market prices is of utmost importance, while to others, increasing their market share is of optimal interest. And the two objectives are diametrically opposed to each other. While Saudi Arabia, in conjunction with Russia, is striving hard to put a floor beneath the
The government has formally acknowledged that imported liquefied natural gas (LNG) has become the most expensive fuel for power generation in the country, even surpassing furnace oil for whose replacement the multibillion-dollar LNG infrastructure was set up in the first place almost a decade ago. In a major decision setting the reference power-purchase tariff for each month of the current fisc