WAPDA inks contract for KurramTangi Dam Project Stage-II
Karachi: Pakistan Water and Power Development Authority (WAPDA) signed an agreement worth Rs 776.3 million to joint venture for consultancy services for Stage-II of Kurram Tangi Dam Project. Joint venture comprises four firms, one from Turkiye and th...
SBP counters reports of MPC meeting for interest rate hike
KARACHI: The State Bank of Pakistan (SBP) has refuted the reports of holding an emergency meeting of the Monetary Policy Committee (MPC) to hike the policy rate. Earlier, reports circulated that the SBP was likely to hike interest rates by as m...
Analysts expect rate hike of up to 300bps in SBP’s monetary policy announcement
Karachi: Market is expecting rate hike as high as 300 basis points when State Bank of Pakistan’s Monetary Policy Committee (MPC) meets next to decide key policy rate. Analysts said central bank is expected to hike rate, which currently sits at...
OSH compliance crucial for exporters: Dr. Gohar Ejaz
KARACHI: Dr. Gohar Ejaz Minister of Commerce, Production and Industry said that it is imperative that Pakistani exporters, especially textile related, must comply with all ILO International Labour Standards including Occupational Safety and Health St...
Umar Saif says, 'We will bring PayPal, stripe payment gateways to Pakistan'
Karachi: Caretaker Minister for IT and Telecom and Science and Technology Dr Umar Saif said enabling PayPal and stripe payment gateways in Pakistan is "High priority" for current setup. Addressing at ITCN Asia 2023 ceremony here, he admitted that gov...
NEPRA asks DISCOs to improve performance in 15 days
ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) directed power distribution companies (DISCOs) to improve their performance in 15 days. "NEPRA will conduct hearing after three weeks to review performance of DISCOs", power regulatory...
Commerce Ministry rules out shortage of sugar in market
ISLAMABAD: Ministry of Commerce and Industries ruled out shortage of sugar despite plans to import commodity from Brazil. Clarification comes after sources claimed that Pakistan is seeking to import sugar from Brazil. Sources within Ministry said Pak...
Bloodbath at PSX; index drops over 1700 points
KARACHI: Bears maintained a firm grip on the Pakistan Stock Exchange (PSX) on Thursday as the benchmark index tanked nearly 4% amid fears over the worsening economic condition of the country. Investors reacted with panic to the rising rupee-dollar pa...
PSX loses 526pts on weak economic triggers
Karachi: 100-index of Pakistan Stock Exchange (PSX) witnessed bearish trend and shed 525.86 points, showing negative change of 1.12 percent, closing at 46,244.56 points against 46,770.42 points previous trading day. Total of 200,288,813 shares were t...
Caretaker PM invites Enertech Holding for further investment
ISLAMABAD: Caretaker Prime Minister Anwarul Haq Kakar invited Kuwaiti companies for investment in Pakistan. Head of Emerging Markets Enertech Holding Kuwait, Yasir Malik called on caretaker Prime Minister Kakar here. He informed PM about Enertech's i...
