ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed the authorities concerned to formulate proposals for reducing government expenditures and overhauling the country’s economic structure. He also directed the authorities to immediately initiate the process of complete digitisation and automation of the Federal Board of Revenue (FBR), which he himself would oversee. Presiding over a
KARACHI: Bullish sentiments prevailed in the stock market for the fourth consecutive session on Monday, briefly propelling the KSE 100-share index above the 66,000-point level. The emerging political stability after the smooth election of Shehbaz Sharif as the 24th prime minister of Pakistan helped the market sustain its overnight bullish momentum. Topline Securities Ltd said the market exte
KARACHI: Pakistan Stock Exchange (PSX) on Monday extended its upward trajectory from the previous week as investors took cue from the election of a new prime minister and upbeat economic data. In the morning, trading began on a robust note, supported by the shrinking of trade deficit by 30.2% year-on-year (YoY) to $14.87 billion for July-February 2023-24 and the fall in the Consumer Price Index
LONDON: Oil prices were little changed on Monday, a day after the widely expected extension of voluntary output cuts through the middle of the year by the OPEC+ producer group. Brent futures were up19 cents to $83.74 a barrelat 1422 GMT after rising 2.4% last week. US West Texas Intermediate (WTI) rose 6 cents to $80.03 a barrel following a 4.6% gain last week. The Organisation of the Petrol
In February 2024, the cement sector witnessed a significant decline of 19.22%, with total dispatches amounting to 3.259 million tonnes (MT), compared to 4.035 MT in the same month of the previous fiscal year. This downturn, as reported by the All Pakistan Cement Manufacturers Association, reflects a notable contraction in both local and export markets. Local cement dispatches in February 2024 s