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PSX cheers peace with record spike

KARACHI: The Pakistan Stock Exchange (PSX) erupted in jubilation on Wednesday, registering its highest single-day gain of over 14,000 points (+9%) in history, as investors cheered the global peace momentum brokered by Pakistan and easing tensions between the United States and Iran. As trading commenced in the morning, the KSE-30 index rallied sharply, which sparked…

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Businessmen for building gas line

Businessmen Group (BMG) Chairman Zubair Motiwala expressed optimism that the 15-day ceasefire would continue ublic-sector gas utilities are operating with a guaranteed rate of return – a formula that should be revised to run them on a commercial basis. Photo: file KARACHI: Businessmen of Karachi, while terming the US-Iran ceasefire a big achievement, have said…

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Govt seeks $1b ADB climate loan

ISLAMABAD: The government has decided to take a $1 billion budget support loan for making policies to deal with climate disaster but deferred approval of a $40 million project due to exorbitant rates quoted for buying furniture and laptops by using a foreign loan. The Central Development Working Party (CDWP) approved the concept clearance proposal…

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Sister-killing unnatural breach of trust: SC

Police officers walk past the Supreme Court of Pakistan building, in Islamabad, Pakistan April 6, 2022. REUTERS ISLAMABAD: The Supreme Court expressed concern over the increase in sororicide—killing of sister—tragedies in society. While upholding the life imprisonment of a man who murdered his sister, the SC noted that sororicide is an unnatural breach of trust…

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Canada backs energy reforms, ceasefire role

Minister says 55% of power mix came from clean sources; hydro expansion, local coal shift planned Pakistan has stepped up efforts to address the energy security challenge. Photo: file ISLAMABAD: Federal Minister for Power Sardar Awais Ahmed Khan Leghari met with Canadian High Commissioner Tarik Ali Khan to discuss energy sector cooperation and investment opportunities,…

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Opposition backs govt’s peace efforts

PML-N-led coalition government in the Centre now has 229 members in the NA. PHOTO: APP ISLAMABAD: The opposition in the National Assembly on Wednesday offered unconditional support for Pakistan’s efforts to ensure regional peace, as the house held a detailed debate following the announcement of a ceasefire between the United States and Iran. Lawmakers from…

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Politicians welcome Pak diplomatic feat

ISLAMABAD: Major political parties, including a broad opposition alliance, welcomed Islamabad’s diplomatic efforts on Wednesday to broker a landmark deal between the United States and Iran, as the PTI decided to call off its protest rally in Rawalpindi, coinciding with the high-stakes negotiations. In a display of political maturity amid deep domestic polarisation, major opposition…

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