Since July 22, numerous unauthorised exchange outlets have been closed after the military intelligence agency summoned currency dealers to address the rising dollar rate in the open market. photo: file KARACHI: Pakistan posted a staggering current account surplus of $1.07 billion in March 2026, down from $1.28 billion a year ago, but sharply higher than…
The three Japanese carmakers lacked innovation and competitiveness, despite the incentives offered to them in the previous policies, said government officials as they announced the auto policy. PHOTO: FILE KARACHI: Pakistan’s upcoming auto policy for 2026-31 is facing growing criticism from industry stakeholders over an unusual lack of transparency, with key players claiming they remain…
Port Qasim. PHOTO: EXPRESS KARACHI: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has announced the establishment of a modern small industrial estate at Port Qasim spanning approximately 400 acres, according to a statement issued on Thursday. Speaking during his visit to the Karachi Chamber of Commerce and Industry (KCCI), the minister said the…
KARACHI: The rally continued at the Pakistan Stock Exchange (PSX) on Thursday, where bulls drove the benchmark KSE-100 index sharply higher in early trading before gains were trimmed by the close. Within minutes of the opening bell, the index surged 2,306 points, or 1.27%, reaching intra-day high of 170,899. Investor sentiment remained upbeat, aided by…
Minister warns against hydrocarbon dependence as British envoy praises peace efforts Minister for Petroleum and Natural Resources Ali Pervaiz Malik speaks during an interview with Reuters, during the Pakistan Minerals Investment Forum 2025, in Islamabad, Pakistan April 8, 2025. Photo: Reuters ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik and British High Commissioner Jane Marriott…
National Assembly. PHOTO: RADIO PAKISTAN ISLAMABAD: The National Assembly Standing Committee on Finance on Thursday approved a bill to give state land on lease free of cost to private developers for the development of special economic zones (SEZs) and barred courts from taking cognisance of commercial legal disputes related to these zones. The committee approved…
A picture showing $100 bills. SOURCE: REUTERS Saudi Arabia on Thursday announced a $3 billion additional deposit to the State Bank of Pakistan (SBP) and extended an existing $5b deposit, in a move aimed at supporting the country’s economy. According to the state news agency SPA, the financial support is intended to enhance Pakistan’s economic stability…
Says shortfall is created once demand exceeds 16,500MW, adds peak demand reached up to 20,000MW in past 15 days Minister for Power Sardar Ayaz Leghari addresses a press conference on Thursday. SCREENGRAB Power Minister Awais Leghari on Thursday apologised to the nation for the widespread outages and load-shedding across the country, saying the crisis was…
LAHORE: Following the first week of reduced retail timings, the Chainstore Association of Pakistan (CAP) has highlighted the serious challenges faced by the organised retail sector and urged the government to adopt a balanced approach to support formal businesses operating under increasing economic pressure. The organised retail sector represents over 30,000 outlets and contributes significantly…
Banks may open accounts for licensed virtual asset firms under strict AML compliance State Bank of Pakistan. Photo: File KARACHI: The State Bank of Pakistan (SBP) has issued a circular enabling regulated entities to open and maintain bank accounts for Pakistan Virtual Asset Regulatory Authority (PVARA)-licensed virtual asset service providers (VASPs) and their customers, subject…