ISLAMABAD: Pakistan and the United States have discussed ways to enhance bilateral cooperation in the maritime sector, focusing on investment, trade, port development and the blue economy, according to a statement issued on Wednesday. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry highlighted the strategic importance of Pakistan’s ports and coastal resources during a…
Super tax relief offers lifeline to exporters, while higher fuel levies cloud OMC outlook KARACHI: The Federal Budget FY27 is expected to deliver a mixed but sector-specific impact across Pakistan’s listed and industrial sectors, with fiscal adjustments influencing oil marketing companies, exporters, pharmaceuticals and consumer-facing industries in varying directions. In a detailed post-budget commentary, JS…
$8.27b Saudi market offers major opening as PFC delegation explores joint ventures LAHORE: Saudi investors are showing keen interest in Pakistan’s handmade carved furniture and are actively exploring avenues for joint ventures, investment and technology collaboration with local manufacturers, Pakistan Furniture Council (PFC) Chief Executive Officer Mian Kashif Ashfaq said on Tuesday. Ashfaq, who is…
Jamshoro Unit-01 conversion yields 1.8x cost-benefit ratio, cuts imported fuel reliance ISLAMABAD: Pakistan is poised to save $3.239 billion over the next 26 years – including $2.113 billion in foreign currency savings – by converting the Jamshoro Unit-01 power plant from imported coal to 100% indigenous Thar lignite, according to the Ministry of Energy (Power…
ISLAMABAD: Economists, public health and environmental experts have called upon the government to end the freeze on tobacco taxation, introduce inflation-adjusted annual increases in cigarette taxes, and consider a climate tax on the tobacco industry, warning that continued inaction is imposing high costs on Pakistan’s health system, economy and environment. The recommendations were made during…
Price of gold settled at Rs432,236 per tola in the local market, price of 10-gram gold dropped by Rs9,360 to Rs368,985 KARACHI: Gold prices in Pakistan witnessed a sharp decline on Tuesday, tracking losses in the international market where a stronger US dollar and rising expectations of a Federal Reserve interest rate hike dampened investor…
KARACHI: Pakistan’s provinces, which once complained that the federal government was monopolising power and economic resources, have themselves become barriers to devolution at the district level, particularly when it comes to fiscal and economic authority. Provinces are projected to receive Rs9.2 trillion in federal transfers in FY26-27, yet only Rs1.8 trillion is being transferred onward…
KARACHI: Buying momentum returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 index gaining 1,666.85 points, or 0.94%, to reach 179,359.77 by 1:24pm. The market maintained its upward trajectory after a positive start to the session. Earlier in the morning, the benchmark index had climbed 551.65 points, or 0.31%, to 178,244.57…
Collective proceedings could involve tens of millions of Apple users over iCloud services LONDON: Britain’s competition tribunal has approved a £3 billion ($4 billion) lawsuit against Apple over its iCloud storage service, consumer group Which? said on Tuesday, clearing the way for tens of millions of consumers to join a collective action. The Competition Appeal…
CCP says Kemyion not operational in Pakistan, transaction won’t affect market concentration ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of 100% shareholding of BASF Pakistan (Private) Limited by UAE-based Kemyion Chemical Solutions Trading FZCO following a Phase-I review under the Competition Act, 2010, according to a statement issued on Tuesday. Kemyion…