ISLAMABAD: Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan has reaffirmed the government’s commitment to private-sector-led economic growth, describing the Islamabad Chamber of Commerce and Industry’s (ICCI) Business Opportunity Conference in Istanbul on August 13 as a timely initiative to raise bilateral trade with Turkey to $5 billion, according to…
Policy amendments clear way for investment of billions of dollars in upgrading plants ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday approved amendments to the Brownfield Refinery Policy, removing key bottlenecks that had delayed its implementation and paving the way for billions of dollars in investment to modernise Pakistan’s refining sector. The approval came during a…
ISLAMABAD: The Privatisation Commission (PC) board proposed on Tuesday the establishment of a new company to set aside some liabilities and assets of three power distribution companies (DISCOs) in line with the privatisation model used for Pakistan International Airlines (PIA), aiming to hand over the entities with positive equity to new buyers. According to the…
Finance Minister Muhammad Aurangzeb reads out Finance Bill 2026 clauses during National Assembly session. SCREENGRAB The government has pushed forward with plans to adopt genetically modified corn technology, with a high-level committee reviewing progress and agreeing to form a working group to address concerns raised by industry stakeholders, according to a statement on Tuesday. Finance…
Correction comes after 4% surge a day ago; bank, oil & gas and cement stocks weigh KARACHI: Pakistan Stock Exchange (PSX) took a breather on Tuesday after a sharp 4% surge in the benchmark KSE-100 index in the previous session as profit-taking pulled the market down despite continued buying interest in selected stocks. The KSE-100…
KARACHI: The Pakistan Stock Exchange (PSX) extended its losses on Wednesday, with the benchmark KSE-100 Index falling 1,339.73 points, or 0.75%, to 176,284.15 at 1:04pm amid weak regional markets and rising oil prices. The Index had earlier dropped 1,297.67 points, or 0.73%, to 176,326.21 at 9:34am. The KSE-100 traded between an intraday high of 176,935.03…
NEWYORK: Oil prices dropped about 5% on Tuesday to a two-week low, on cautious hopes that the pause in fighting ?between the United States and Iran will lead to talks to end the war, even though previous halts have proved only temporary. Brent futures fell $4.27, or 4.8%, to settle at $84.09 a barrel, while…
Gold prices in Pakistan fell on Tuesday, tracking losses in the international market, amid a firmer US dollar and investor caution ahead of the Federal Reserve’s policy decision. In the local market, the price of 24-carat gold dipped by Rs4,300 to Rs427,436 per tola, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa…
Oil prices rose more than $3 a barrel on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia, and the interception of Iran’s ballistic missiles aimed at US forces in the Middle East, while US crude inventories shrank. Brent futures increased by $3.30, or 3.9%, to $87.39 a barrel, while US…
ISLAMABAD: Pakistan has successfully completed the second marine bunkering operation at Gwadar Port, reinforcing the port’s emergence as a new marine fuel supply destination for international shipping. The operation was carried out by Vitol through its bunker barge Marine Ista, supplying IMO-compliant Very Low Sulphur Fuel Oil (VLSFO) produced by Cnergyico PK Limited to an…