KARACHI: Pakistan Stock Exchange (PSX) on Wednesday remained under pressure as investors exercised caution ahead of the monetary policy announcement in mid-March and potential negotiations with the International Monetary Fund (IMF) for a new loan package. In the morning, trading kicked off with a spike and the market climbed during initial hours. Buying activity was observed throughout the firs
KARACHI: The latest petroleum refinery upgradation policy offers financial incentives, encouraging Pakistan’s industry to significantly increase the production of high-premium products. The policy aims to double the output of petrol and boost diesel production by 47% in the coming years. This multibillion-dollar and time-consuming initiative is expected to drastically reduce the import of refin
ISLAMABAD: The Ministry of Finance has asked the Petroleum Division to allocate gas supply to the Fauji Fertiliser Bin Qasim Limited (FFBL) plant from a new discovery made by Pakistan Petroleum Limited (PPL). Earlier, the caretaker government approved an increase in the allocation of gas for third parties from 10% to 35% to tackle the growing circular debt and help exploration companies improve
KARACHI: Indus Motor Company (IMC) has announced a six-day shutdown of its production plant owing to the shortage of auto parts and components. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, the automaker said that production would remain suspended from March 6 to 11. “Based on the current low level of inventory of manufactured vehicles, and shortage of parts and compone
ISLAMABAD: The textile industry has cautioned the Special Investment Facilitation Council (SIFC) about the likelihood of further declines in exports due to the absence of a financially viable energy source for the industry. It has proposed a set of measures to enhance the competitiveness of textile exports in the global market. It pointed out the lack of a financially viable energy source for t