Author: capital

Govt fixes dollar rate, shifts to KIBOR for 5G

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ISLAMABAD: The Ministry of IT and Telecom has acknowledged long-standing demands of the telecom sector by easing payment terms and fixing exchange and interest rates in its policy directive for the upcoming next-generation mobile spectrum auction, a move that clears the way for the Pakistan Telecommunication Authority to issue the Information Memorandum for existing operators and new entrants to participate in the process. Under the approved framework, the spectrum fee has been denominated in US dollars, but the exchange rate will be calculated at the National Bank of Pakistan’s TT…

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PSX snaps rally, sheds 976 points

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KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended on a softer note on Thursday, shedding around 975 points to settle slightly above 185,500, as investors booked profits following a strong five-day rally. “During the session, investors opted for profit realisation after the recent robust gains,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL). “Following a sharp rally of 12,464 points (+7.2%) in the initial five sessions of CY26, the PSX witnessed its first profit-taking session today (Thursday).” The KSE-100 index ended the…

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OGRA moves to scrap fixed returns in gas pricing

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ISLAMABAD: Following the government’s plan to restructure gas utilities, the Oil and Gas Regulatory Authority (OGRA) has decided to review the existing gas pricing formula based on return on fixed assets, keeping in view current gas sector dynamics and market liberalisation. The government had tasked the OGRA with restructuring the two public gas utilities by doing away with the fixed asset-based return. According to officials, the regulator hired consultancy firm KPMG to review the formula, and it has submitted its report. The regulator has started consultations with stakeholders to change…

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SME financing gaps highlighted at Lahore expo

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LAHORE: The Lahore Chamber of Commerce and Industry on Thursday organised the SME Finance and Banking Expo to provide small and medium enterprises direct access to banking facilities, financing schemes and financial products. According to a statement, the day-long event saw participation from almost all major commercial banks, Islamic banks and financial institutions operating in the country. Banks set up dedicated stalls where a large number of LCCI members visited to obtain information on SME-focused financing products, refinance schemes, credit facilities, Islamic finance models and digital banking solutions. The expo…

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Visa discusses digitising govt payments

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ISLAMABAD: Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday held a meeting with a Visa delegation led by Tareq Muhmood, Regional President for Central Europe, Middle East and Africa, to discuss advancing digital payments, financial inclusion and ongoing economic reforms in Pakistan. Aurangzeb appreciated Visa’s continued engagement with Pakistan’s financial sector. The discussion focused on improving macroeconomic indicators, ongoing economic stabilisation efforts and the government’s priorities for achieving sustainable and inclusive growth, according to a news release. Aurangzeb briefed the delegation on progress under the International Monetary Fund…

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CCP to probe cooking oil industry

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ISLAMABAD: The government has directed the Competition Commission of Pakistan (CCP) to investigate the allegations of cartelisation in the cooking oil and ghee industry on a fast track. The National Price Monitoring Committee (NPMC), in a recent meeting, directed the CCP to submit its preliminary findings in the next meeting. The committee said that it had noticed that health issues were increasing due to the substandard quality of cooking oil and ghee. Furthermore, it stated that the issue may be taken up seriously by the relevant ministries and provincial departments.…

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How gene therapy could change the future of chronic pain treatment

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A new treatment might just be hope for many people living with chronic pain.   In a recent preclinical study, researchers discovered a way through gene therapy, to target pain centers in the brain without using opioids or risking addiction.   The results were published in the journal Nature and represent a major step forward in chronic pain treatment.   Chronic pain is quite a consistent feeling and nothing seems to numb it and while opioid drugs like morphine can help reduce pain, they affect many parts of the brain…

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Textile exports dip across EU, US & UK

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ISLAMABAD: Pakistan’s textile and apparel exports suffered a broad-based decline across its three largest markets, the European Union, the United States and the United Kingdom, during the first half of FY26, signalling a deepening competitiveness crisis for the country’s largest export sector. Chairman of Pakistan Textile Council (PTC) Fawad Anwar said the downturn was not confined to a single product or destination but reflected systemic weaknesses in the cost of doing business, according to a statement issued on Wednesday. Textiles and apparel, Pakistan’s biggest export-oriented industry, face immediate risks to…

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Fortune 500 Chinese firm eyes investment

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ISLAMABAD: Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan held a meeting with representatives of Fortune 500 Chinese company Xiamen C&D, during which the company expressed strong interest in making large-scale investments in Pakistan. The meeting was attended by Chairman Export Processing Zones Authority (EPZA) Freedoon Akram Sheikh, according to a statement issued on Wednesday. Xiamen C&D conveyed its interest in investing in Pakistan’s automobile, steel and iron sectors. The SAPM said Xiamen C&D is a globally renowned company with a strong presence across international supply chains, steel,…

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