Shares closed slightly down on Tuesday in a range-bound session despite a decline in international oil prices. Topline Securities said the investors’ interest stayed concentrated within the exploration and production sector where Pakistan Petroleum Ltd and Oil and Gas Development Company Ltd closed higher. That was because the former told a briefing of analysts that its block in Abu Dhabi has s
Finance Minister Ishaq Dar announced on Tuesday that there would be no change in the prices of petroleum products for the next fortnight till November 30. “The government has decided, after permission from Prime Minister Shehbaz Sharif, that there will be no increase in any petroleum products. All the items, petrol, diesel, light diesel oil and kerosene […] their prices will remain unchanged fr
JS Bank Ltd said on Tuesday it wants to acquire more than 51 per cent shares and control of BankIslami Pakistan Ltd. One of the smallest lenders in terms of market capitalisation, JS Bank already owns 7.79pc shareholding in the country’s second largest Sharia-compliant bank. Speaking to Dawn, Topline Securities Research Director Umair Naseer said it’s unclear at the moment whether the transa
The government has suspended the popular prize scheme of the Federal Board of Revenue (FBR) for the shoppers from Point-of-Sales (POS) integrated tier-1 retail outlets for two and a half months. The POS prize scheme will remain suspended until Jan 31, 2023, according to a sales tax notification SRO1005 released on Tuesday. An official of the FBR said that the scheme will be made more inclusi
Despite an over 50 per cent hike in power tariff involving Rs1.2 trillion additional burden on consumers, the government on Tuesday conceded that circular debt was continuously going up due to missed targets on recovery and losses. While pleading its case at a public hearing for adding Rs43.34bn financial burden (Rs2.18 per unit) to the consumers in three months, Power Division told National El