Pakistan State Oil Company Ltd reported on Thursday it posted a profit after tax of Rs10.3 billion in the first nine months of 2022-23, down 84 per cent from the comparable period of the preceding fiscal year. On a quarterly basis, its earnings clocked in at Rs13.6bn in January-March after declining 58pc from the same three-month period a year ago amid lower inventory gains, according to Arif H
The Economic Coordination Committee (ECC) of the cabinet on Thursday approved supplementary grants worth Rs912.5 million and an extension in the lease period to four oil and gas-producing fields for accelerating exploration activities. The ECC meeting, chaired by Finance Minister Ishaq Dar, approved a disbursement of Rs284.5 million in financial assistance to 317 families of martyrs and injure
Fast-track digital transformation is necessary for rapid economic growth, said Minister of Planning, Development and Special Initiatives Ahsan Iqbal while reviewing the recommendations by the Overseas Investors Chamber of Commerce and Industry (OICCI) for digital transformation during a round-table conference held on Thursday. With an objective to set the country on a digital path and help it e
The World Bank on Thursday forecast a substantial decline in global commodity prices during the current year but Pakistanis would have to brace for 21pc average annual inflation in the next fiscal year. In its latest Commodity Markets Outlook, the World Bank expected global commodity prices to decline this year at the fastest clip since the onset of the Covid-19 pandemic, clouding the growth pr
The outflow of profits and dividends on foreign investments shrank to a fifth of its last year’s value in the first nine months of the current fiscal year, the central bank data showed on Thursday. The State Bank of Pakistan (SBP) reported that the outflow during July-March was $233 million compared to $1.27 billion a year ago — a drop of 81.6pc, or $1.034bn. Since low foreign exchange reser