In view of the expected gas shortages in the winter season, Engro Polymer and Chemicals Ltd has signed an “interim agreement” with the state-owned Sui Southern Gas Company Ltd (SSGC) for the supply of fuel based on the industrial/commercial pricing for re-gasified liquefied natural gas (RLNG). The company will buy the imported gas — whose rate is over three times higher than that of the locally
The Ministry of Finance said on Tuesday that inflationary pressure is expected to marginally ease out month-on-month due to smooth domestic supplies, unchanged energy prices in November and a stable exchange rate. Further, the recent Kissan package has made an optimistic crop outlook which will decelerate food inflation in the months ahead. Moreover, the food supply chain disruption caused b
Textile exporters in Pakistan, like their regional counterparts, struggle to be merry this Christmas season, as a buying freeze abroad has hit all segments, from apparel, denim and knits to home textiles, though they hope things will get better in the coming months. “This time around, we did not get Christmas orders,” says Sohail Pasha, chairman of the Pakistan Textile Exporters Association.
The Pakistan Stock Exchange’s benchmark KSE-100 index plunged over 800 points on Monday, with the slump being attributed to the central bank’s surprise move to hike the policy rate by 100 basis points on Friday evening. The index saw a sharp slump right after the opening bell, dropping more than 600 points to 42,282.48 in the first 30 minutes of trading. It eventually closed at 42,071.34, down
The message that came through the United Nations’ climate change conference (COP27) in Egypt’s Sharm el-Sheikh is loud and clear: nations need to do more to slow down climate change or the consequences will be catastrophic. For Pakistan, the deadly effects of climate change are already here. This year’s monsoon floods have caused devastation on a scale never seen before. At COP27, Pakistan i