Prime Minister Shehbaz’s rudderless government has failed to inspire trust in the economy, currently in a mess, with brewing currency, energy and commodity crises, making bare survival difficult for a wide majority of lucky working Pakistanis. What it must be like for the jobless is anybody’s guess. The rise in crimes committed by people against their own families gives clues about the severity
State Minister for Petroleum Musadik Malik announced on Monday that Russia has decided to provide crude oil, petrol, and diesel to Pakistan at discounted rates. The decision comes a month after Finance Minister Ishaq Dar said that the country is considering buying discounted Russian oil, pointing out that neighbour India has been purchasing oil from Moscow and Islamabad also has a right to expl
Domestic gold price hit an all-time high of Rs164,200 per tola and Rs140,604 per 10 grams on Monday, showing a jump of Rs700 and Rs601 from Saturday despite a $4 drop in world market rate to $1,794 per ounce. All Sindh Saraf and Jewellers Association (ASSJA) President Haji Haroon Rasheed Chand said the exchange rate fluctuations have been keeping the bullion rates under pressure. He said due
Cotton production has dropped by more than 40 per cent mainly because of climate change and floods giving a nightmare to the country’s ‘financial wizards’ as the foreign exchange-starved country will have to import about 7 million cotton bales to meet the textile industry’s demand this season. Total white lint production is expected to be barely 4.8m bales this year, raising the cotton impor
Engro Corporation Ltd said on Monday it’s looking for an investment opportunity in the mobile infrastructure business, which typically involves purpose-built towers with communication equipment allowing area residents to use wireless devices. Even though the securities filing didn’t mention the potential size of investment — or name the target of acquisition — market reports suggest the conglom