Amid increasing fuel prices and the oil industry’s complaints over the rising influx of smuggled oil products, the government has expedited the process of deregulating petroleum product prices to shift the brunt of public criticism to oil marketing companies (OMCs). In a directive, the petroleum division has asked the Oil and Gas Regulatory Authority (Ogra) “to share a presentation on the ana
Pakistan Stock Exchange (PSX) on Wednesday continued its gradual movement towards south as investors opted for profit-booking after the market rose to its intra-day high above 70,700 points. As some investors were scared to invest at high levels, the market began the day on a negative note and the KSE-100 index dipped to the intra-day low of 70,037.28 points in the very first hour. Weak larg
Pakistani currency on Wednesday hit a new four-week low at Rs278.40 against the US dollar in the inter-bank market, while gold surged to a fresh record high at Rs251,900 per tola (11.66 grams) in line with the global trend. According to State Bank of Pakistan’s (SBP) data, the rupee further dropped Rs0.11 on a day-on-day basis, reaching a 28-day low at the close of market. With this, the cur
Leading global financial organisations like the World Bank (WB), Asian Development Bank (ADB), and International Finance Corporation (IFC) have pledged their support for Pakistan’s economic stabilisation efforts through structural reforms, digital transformation, and privatisation. During sideline meetings at the International Monetary Fund (IMF) and World Bank-2024 Spring Meetings in Washingto
The government has drawn up a plan to provide affordable credit facilities to small and medium-sized businesses, which are considered a vital part of the economy and provide a large number of job opportunities. The matter was taken up in a recent meeting of the cabinet while discussing the acceptance of resignation submitted by SME Bank Limited President and CEO Tahir Hassan Qureshi and the app