Amid the declining rupee value, the Ministry of Finance and the Federal Board of Revenue (FBR) expressed their ignorance about the declaration of foreign currency by international passengers on arrival in Pakistan on the orders of the Civil Aviation Authority (CAA) that further brought local currency under stress. At a meeting on Wednesday, the Senate Standing Committee on Finance was told that
With the devastating monsoon rain hitting cotton areas, the Pakistan Textile Exporters Association has approached the federal government to allow the import of cotton from India via Wagah to meet the rising export orders. Exporters say early estimates show that 25 per cent of the standing cotton crop had been damaged and there was a possibility of a raw material shortage in the country. Sepa
The Pakistan Stock Exchange (PSX) closed in the red on Monday after some experts revised downwards the growth estimate for fiscal year 2023 and the government issued an estimate of the damages caused by floods. The KSE-100 index closed at 41,859.30 points, down 449.81 points, or 1.06 per cent. The index saw an intraday low of 41,859.10 points shortly before trading was suspended for the day.
On the first day of its formal launch on Monday, the Pakistan Stock Exchange (PSX) Dividend 20 Index shed 116.57 points of 0.84 per cent to close at 13,809.11 points. The newly launched benchmark consists of top 20 dividend-paying companies that have a dividend distribution history, ranked and weighted based on the trailing 12-month dividend yield. It can be used as a benchmark index for the in
The Pakistan Stock Exchange staged a rebound on Wednesday as the KSE-100 index climbed 121 points, aided by investor interest in technology stocks. The approval of an incentive package for the IT industry by Prime Minister Imran Khan triggered bullish activity in the technology sector, where stocks were in the limelight throughout the session. Moreover, market participants took cue from the