A worker holds a fuel nozzle to fills fuel in a car at petrol station in Karachi on September 16, 2023. Photo: REUTERS/ File Prime Minister Shehbaz Sharif on Friday jacked up prices of both high-speed diesel (HSD) and petrol by Rs26.77 per litre despite no increase being required in the rates of petrol. The…
ISLAMABAD: Pakistan has agreed with the International Monetary Fund (IMF) to walk a fiscally tight path and show a primary budget surplus of Rs2.8 trillion in the new budget and increase net foreign exchange reserves by $5.6 billion to end the vicious cycle of negative reserves, according to official sources. To offset the impacts of…
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY Gold and silver prices witnessed a continued decline in both international and local markets on Friday, tracking a downward trend in global bullion rates. In the international market, the price of gold per ounce dropped by $29, settling at $4,685. This global…
The Wall Street sign is pictured at the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS The traditional relationships between global financial assets have broken down since the outbreak of the Middle East conflict, leaving investors navigating markets with what analysts describe as a…
ISLAMABAD: Despite challenges arising from the US-Iran conflict, rising oil prices, increased freight and insurance costs and a global risk-off trend, Pakistan’s capital market remained resilient. In this regard, the Securities and Exchange Commission of Pakistan (SECP) has released its quarterly review report for the third quarter of fiscal year 2025-26. According to the SECP,…
$2.45 billion had been repaid last week, bringing the total repayment to $3.45 billion Pakistan has completed the repayment of $3.45 billion in deposits to the United Arab Emirates (UAE) after returning a final tranche of $1 billion, the State Bank of Pakistan (SBP) announced on Friday. In a post on X, the SBP announced that…
The well is flowing through a 32/64-inch choke at a pressure of 3,585 pounds per square inch ISLAMABAD: Oil and Gas Development Company (OGDC) on Thursday announced the revival of gas production from Jand-1 well, located in Attock district of Punjab province, marking a significant operational achievement. According to a statement issued by the company,…
State Bank of Pakistan. Photo: File KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $18 million during the week ended April 17, 2026, reaching $15.097 billion, according to official data released on Thursday. Overall, the country’s total liquid foreign reserves stood at $20.628 billion. Breakdown shows the SBP-held reserves at $15.097…
ISLAMABAD: Federal Minister for Power Division Sardar Awais Ahmed Khan Leghari has taken serious notice of power off-take from small power producers (SPPs) and captive power plants (CPPs) by distribution companies (DISCOs) at tariffs exceeding the prevailing national merit order, according to a statement issued on Wednesday. The matter was revealed during a stock-taking of…
LAHORE: The Pakistan Association of Automotive Parts & Accessories Manufacturers (Paapam) has voiced concern over reports that the draft Automobile & Auto Parts Manufacturing Policy (2026-31) is being forwarded to the International Monetary Fund (IMF) without meaningful consultation with the Engineering Development Board (EDB), parts vendors and other key industry stakeholders. In a statement, Paapam…