Author: capital

KARACHI: Gold prices in Pakistan declined sharply on Tuesday, tracking losses in the international bullion market amid profit-taking following a strong year-end rally. In the local market, the price of gold per tola dropped by Rs10,700 to settle at Rs459,462, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold fell by Rs9,174 to Rs393,914. Silver prices also came under pressure in the local market, with the price per tola falling by Rs145 to Rs7,930. Despite the day’s correction, silver has…

Read More

ISLAMABAD: Oil and Gas Development Company (OGDC) is looking to explore hydrocarbon reserves overseas in association with Russian and Turkish energy companies. In this regard, OGDC – Pakistan’s largest oil and gas explorer – intends to forge joint ventures with Russian energy giant Gazprom and Turkish Petroleum in Libya and Vietnam in onshore and offshore exploration zones, said sources while talking to The Express Tribune. The company’s objective is to boost energy supplies from different countries to help reduce Pakistan’s energy import bill. Indian oil and gas explorers too are…

Read More

ISLAMABAD: The State Bank of Pakistan (SBP) has released its Quarterly Report on Payment Systems, highlighting growth in digital transactions and continued expansion of the country’s payment ecosystem during the first quarter of fiscal year 2025-26. According to an official statement issued on Tuesday, total payment volumes increased to 2.8 billion transactions in the quarter, reflecting a 10% rise over the previous quarter. The value of retail payments reached Rs166 trillion, marking a 6% quarterly increase, largely driven by growing use of mobile app-based banking. Digital payment channels accounted for…

Read More

ISLAMABAD: Pakistan on Tuesday launched its first private-capital-funded Pakistan Skills Impact Bond (PSIB), backed by a guarantee from the Ministry of Finance, to operationalise a Rs1 billion pilot tranche under a three-year instrument aimed at financing a scalable technical skills development programme. According to an official statement, the PSIB has been designed to deliver measurable outcomes, including certification, job placement and at least six-month job retention for each trainee. The initiative represents a shift from traditional input-based public spending towards outcome-driven, private-sector-enabled social investment. Under the proposed structure, subsequent tranches…

Read More

KARACHI: The year 2025 finally delivered a long-awaited wave of locally assembled vehicles in Pakistan, spanning hybrids, SUVs, pickups, and electric models, following a series of government policy interventions aimed at revitalising the auto sector. While the expanded lineup has brought greater choice, improved technology, and renewed competition, the benefits have so far remained concentrated in the higher-income segment. Affordable options for middle- and lower-income buyers remain largely absent, raising concerns that the current progress has yet to meaningfully trickle down to the broader segments of society, limiting the inclusive…

Read More

ISLAMABAD: The government on Tuesday approved a 3.7% economic growth rate for the first quarter of the current fiscal year on the back of growth across all major sectors of the economy, beating its own official reports of severe damage to agriculture caused by the “devastating floods”. The National Accounts Committee (NAC), the government body mandated to approve economic growth numbers, approved the overall 3.71% gross value addition for the first quarter of 2025-26. The NAC meeting was chaired by Secretary Planning Awais Manzur Sumra. However, the output figures across…

Read More