Author: capital

KARACHI: Gold prices remained stable in both international and local markets on Friday, while silver saw a moderate increase. In the international bullion market, the price of gold per ounce held steady at $5,178. In Pakistan, the price of gold per tola remained unchanged at Rs 540,562, while per 10 grams it stayed at Rs 463,444. Silver prices, however, recorded an increase. The price per tola rose by Rs 270 to reach Rs 9,474, while per 10 grams it increased by Rs 232 to Rs 8,122. Spot gold edged down…

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Pakistan is well-positioned for the International Monetary Fund (IMF) review of a $1.2 billion tranche, Finance Minister Muhammad Aurangzeb said on Wednesday, as the IMF mission begun discussions in Karachi. The staff mission will conduct the third review under the IMF’s Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), according to official statements from the IMF and Ministry of Finance. The IMF mission, led by Iva Petrova, arrived in Pakistan today and will remain until March 11 to complete the two reviews. Successful completion of the reviews…

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ISLAMABAD: Pakistan has set mobile and IT equipment export target at $2.5 billion by switching from gadget assembly to manufacturing by 2033 under the new device and electronics manufacturing policy. To meet the goal, the government expects export of 21.6 million mobile phones and development of a workforce of 75,000 skilled workers over the next seven years to support full-scale manufacturing. According to official projections, exports will start rising sharply after 2027, when 0.16 million mobile units are expected to be shipped overseas, which will jump to 1.82 million units…

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ISLAMABAD: The Ministry of Information Technology’s secretary has dismissed reports of a firewall shutdown as baseless, confirming that the web monitoring system remains fully operational and is being used to comply with court orders. The National Assembly’s Standing Committee on Information Technology and Telecom held a detailed meeting to discuss the upcoming 5G spectrum auction, the status of the web monitoring system (firewall), and IT export-related matters. During the session, the Pakistan Telecommunication Authority (PTA) chairman briefed the committee on the 5G spectrum auction, scheduled for March 10 at a local hotel in…

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ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of Attock Cement by Fauji Cement Company and Kot Addu Power Company, following a phase-I competition assessment conducted under the Competition Act, 2010. On February 3, 2026, Fauji Cement and Kot Addu Power filed a pre-merger application for the acquisition of controlling interest in Attock Cement from Pharaon Investment Group Limited. The proposed acquisition is pursuant to the Scheme of Compromises, Arrangement, and Reconstruction agreement dated January 30, 2026. Upon completion of transaction, Fauji Cement and Kot Addu…

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ISLAMABAD: Pakistan’s top conglomerates on Thursday urged the International Monetary Fund (IMF) to ensure predictability and a long-term view of economic policies, while the visiting mission chief underscored the need for phased economic growth instead of accelerating the pace abruptly. The large firms also demanded that the IMF allow time-bound tax and other incentives to revive exports, which have dropped by more than 7% during the first seven months of the current fiscal year. Representatives of around one-and-a-half dozen top corporations, including foreign-origin and local firms, met the Iva Petrova-led…

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KARACHI: Stocks staged a sharp rebound on Thursday as easing contract rollover pressure ahead of February futures expiry and renewed institutional buying lifted sentiment, driving the benchmark KSE-100 index up by over 4,260 points. The rally followed a steep correction during the current month and was led by gains in index heavyweights. Market breadth turned strongly positive, while improving macro signals, including budget relief expectations and progress on 5G auction, further supported investor confidence. At the close of trading, the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) posted…

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ISLAMABAD: The Petroleum Division on Thursday signed petroleum concession agreements and granted exploration licences for 11 onshore blocks, marking a significant step forward in advancing oil and gas exploration activities across the country. The signing ceremony was held in Islamabad, where Federal Minister for Petroleum Ali Pervaiz Malik was also present. The awarded blocks include eight in Balochistan, two in Sindh and one in Punjab. The successful joint venture partners are Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), Mari Energies, Pakistan Oilfields Ltd (POL) and Prime Global…

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LAHORE: Pakistan’s economy has shown cautious signs of stabilisation during the October-December quarter of fiscal year 2025-26, although persistent fiscal and external pressures continue to weigh on the overall growth outlook. According to the latest “Economic Infographics: A Snapshot of Pakistan’s Economy”, released by the Research and Publications Department of the Institute of Cost and Management Accountants of Pakistan, key macroeconomic indicators reflected a mixed but gradually improving trend during the secoand quarter of FY26. On the fiscal front, revenue collection remained under strain. The Federal Board of Revenue collected…

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ISLAMABAD: Planning Minister Ahsan Iqbal conceded on Thursday that the provincial National Finance Commission (NFC) share of 57.5% was untouchable due to reservations by the federating units, as Punjab’s readiness to share defence spending failed to win support from the other provinces. The concluding session of the two-day Pakistan Governance Conference revealed the positions of the four provinces and the Centre on the next NFC award. It emerged that Khyber-Pakhtunkhwa and Sindh held almost similar positions, while Punjab appeared to be toeing the Centre’s line. The federal government seemed willing…

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