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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Govt awards 11 oil, gas exploration blocks
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…
Read MoreMacro indicators improve in Q2
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…
Read More57.5% NFC share ‘untouchable’
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…
Read MorePTI moves Supreme Court to shift Imran to Islamabad’s Shifa International Hospital
ISLAMABAD: Senior members of Pakistan Tehreek-e-Insaf (PTI) on Wednesday approached the Supreme Court, seeking the transfer of the party’s founder, former prime minister Imran Khan, to Shifa International Hospital in Islamabad for medical treatment. The petition was filed by PTI lawyer Latif Khosa in the Toshakhana criminal case under Rule 35(6) of the Supreme Court Rules, 2025, following a health assessment report prepared by barrister Salman Safdar at the court’s direction. It requested that Imran be immediately shifted to Shifa International Hospital for specialised treatment of his eye condition by…
Read MoreQueries raised in Rashid’s Umrah case
RAWALPINDI: A division bench of the Lahore High Court Rawalpindi Bench raised major legal and constitutional questions while hearing the government’s intra-court appeal against a single bench decision allowing former interior minister Sheikh Rashid Ahmed to travel for Umrah. The judge summoned the federal interior secretary, director general of the Federal Investigation Agency (FIA) and the additional attorney general to appear in person on March 5. The bench also dismissed the petitioner’s request seeking suspension of the single bench order permitting Umrah travel, observing that a decision on the matter…
Read MoreVerbal land deal has no legal standing: SC
ISLAMABAD: The Supreme Court of Pakistan has set aside an order for the transfer of land based on an alleged oral agreement dating back to 1992, ruling that mere possession or long-term occupation does not establish ownership. The court allowed the appeal filed by Ghulam Ali. Justice Shahid Bilal Hassan issued the written judgment, stating that a strict standard of proof applies in cases involving oral agreements. The ruling held that the alleged 1992 oral agreement was not proven in accordance with the requirements of law. The Supreme Court declared…
Read MoreRelief for Imran, Bushra as IHC admits Toshakhana appeals
ISLAMABAD: The Islamabad High Court (IHC) on Thursday removed all objections to the appeals filed by PTI founder Imran Khan and his wife Bushra Bibi against their convictions in the Toshakhana-II case and directed that the appeals be formally numbered and fixed for hearing. During proceedings in the Toshakhana matter, Justice Khadim Hussain Soomro heard the appeals against the sentences awarded to Imran and his spouse. Barristers Salman Safdar and Salman Akram Raja appeared before the court, while Imran Khan’s three sisters were also present. Barrister Salman Safdar informed the…
Read MoreFO justifies terror op as self-defence
ISLAMABAD: Pakistan on Thursday expressed concern over the deepening strategic and defence partnership between India and Israel, warning that the growing nexus poses serious implications for regional peace and stability. Responding to questions during his weekly news briefing, Foreign Office spokesperson Tahir Andrabi said Islamabad was closely monitoring the expanding military ties between New Delhi and Tel Aviv, particularly in light of Indian Prime Minister Narendra Modi’s visit to Israel this week. During the visit, both sides decided to further deepen bilateral cooperation, including in defence and strategic domains, a…
Read MoreFCC hands govt fresh relief
ISLAMABAD: In another legal reprieve for the government, the Federal Constitutional Court (FCC) has ruled that tax authorities may conduct raids without prior notice and without the existence of a pending case against a taxpayer, a decision that significantly reinforces enforcement powers under tax law. The judgment, authored by Justice Aamer Farooq, observed that Parliament has vested wide-ranging authority in tax officials to ensure compliance with revenue laws. The court stated that it cannot read into a statute any condition that the legislature has not expressly provided. Rejecting the argument…
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