The government borrowed seven times more from banks during the first five months of the current fiscal year while the budgetary borrowing is reaching close to the amount it borrowed during the entire FY23. The latest data issued by the State Bank of Pakistan (SBP) on Tuesday showed that the government borrowed Rs3.585 trillion from July 1 to Dec 8 FY24 against Rs516bn in the same period last ye
Despite a record 83 per cent power generation from cheaper domestic fuels, the Central Power Purchasing Agency (CPPA) on Tuesday sought a massive Rs4.66 per unit additional fuel cost adjustment (FCA) for ex-Wapda distribution companies (Discos) — almost 100pc higher than target — to generate another Rs34 billion in January 2024. This increase in FCA is on top of about 26pc increase in annua
After a week of uncertainty, bearish sentiment returned to the trading floor of the Pakistan Stock Exchange (PSX) on Monday as shares opened the week in the red. According to the PSX website, the KSE-100 index declined by 925.35 points to close at 65,204.67 points, down 1.4 per cent from the previous close of 66,130.02. Top active stocks included Worldcall Telecom Limited, K-Electric Limited
Troubled oil marketing company Hascol Petroleum Ltd said on Monday that Millat Energy Group is interested in buying 76 per cent of its “fully diluted share capital” through a subscription of new shares. Fully diluted share capital reflects the total number of shares a company would have if all outstanding options and other rights to subscribe for — or convert into — shares were exercised.
Oil rose three per cent on Monday as mounting attacks by the Iran-aligned Yemeni Houthi militant group on ships in the Red Sea disrupted maritime trade. A Norwegian-owned vessel was attacked in the Red Sea on Monday and oil major BP said it has temporarily paused all transits through the body of water. Other shipping firms said over the weekend that they would avoid the route. Brent crude fu