Category: bussines

The bourse traded lower on Friday as investors continued to lock in gains amid a cautious tone ahead of rollover week and lingering macro uncertainty. “Profit taking and some results have been lower than expectations,” said Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company. During the session, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 165,025.85 points, up 435.44 points, or 0.26%, from the previous close of 164,590.41 points, and retreated to a low of 163,041.97 points, reflecting a decline of 1,548.44 points,…

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KARACHI: The Directorate of Transit Trade has issued a detailed procedure for the phased resumption of Afghan transit trade, days after operations were suspended due to border tensions between Pakistan and Afghanistan. In a statement, the directorate said that the cargo clearance process would be completed in three stages. In the first phase, nine vehicles that were sent back after the closure of Bab-e-Dosti will be cleared. The second phase will involve the processing of 74 vehicles that had returned from the NLC terminal, while in the third phase, 217…

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ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday said that the exit of some multinational companies from Pakistan was driven by global corporate decisions rather than local economic challenges, asserting that the country’s macroeconomic stability continues to attract new foreign investors. Speaking on Geo News programme ‘Capital Talk’, the finance minister noted that while some multinational companies have exited Pakistan, several new investors are entering the market. “Such decisions are often part of global corporate strategies… if some companies are leaving, new ones are also arriving, particularly in the energy and…

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Tuesday said that fuel supplies across Pakistan remain uninterrupted, rejecting claims of a nationwide shortage amid recent delays in petroleum import clearances. In a statement, an Ogra spokesperson said that while there had been a brief delay in the clearance of imported petroleum consignments a few days ago, the situation has now returned to normal. The spokesperson added that two vessels carrying petrol and diesel from two different companies were cleared today, further stabilising supply across the country. The clarification came…

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The Pakistan Stock Exchange (PSX) extended its upward momentum on Tuesday amid growing investor confidence following Pakistan’s staff-level agreement (SLA) with the International Monetary Fund (IMF). Market optimism was further supported by expectations of strong upcoming corporate results and anticipated investments from Saudi Arabia. During intraday trading, the benchmark KSE-100 Index reached an intraday high of 168,197.47, gaining 2,171.23, or 1.31%, from the previous close of 166,242.90 points. It touched a low of 166,923.59 points, still up 680.69 points, or 0.41%. Market expert and CEO of Ismail Iqbal Securities, Ahfaz…

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The State Bank of Pakistan (SBP) has signed an agreement with the International Finance Corporation (IFC) — a member of the World Bank Group — to expand local currency financing and support private sector growth in the country. The agreement, signed under the International Swaps and Derivatives Association (ISDA) framework, would enable the IFC to manage currency risks more effectively and increase its investments in Pakistani rupees, read a statement issued by the central bank on Monday. “This is an important step towards unlocking financing for critical sectors of the…

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Pakistan has implemented a revised business-to-business (B2B) Barter Trade Mechanism with Iran, Russia, and Afghanistan, following its approval by the Economic Coordination Committee (ECC) of the Federal Cabinet. The amendments have been designed to boost regional commerce and ease business transactions. A notification was issued by the Ministry of Commerce, which eased several conditions for barter trade with the three countries. The requirement of mandatory exports before imports has been relaxed, allowing simultaneous import and export transactions. Private entities have also been permitted to form consortia to facilitate trade under…

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Finance Minister Muhammad Aurangzeb has said that the International Monetary Fund (IMF) cannot impose any condition that undermines Pakistan’s national interest, asserting that the country’s economic reforms are driven by its own priorities. Speaking at a press conference in Washington alongside senior officials, Aurangzeb said Pakistan remains committed to structural reforms that promote long-term stability and growth. “[The] IMF cannot put any condition that goes against Pakistan’s national interest,” said Aurangzeb. Finance czar said that the reforms introduced under the IMF programme had played a vital role in stabilising Pakistan’s…

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Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a series of meetings in Washington, DC, aimed at deepening economic cooperation and advancing Pakistan’s digital and financial agenda. Senator Aurangzeb met with Dr Adnan Chilwan, Group CEO of Dubai Islamic Bank (DIB), and appreciated DIB’s continued partnership as the leading global arranger of Pakistan’s sovereign Sukuk. The finance minister highlighted the recent Staff Level Agreement (SLA) with the International Monetary Fund (IMF) and ratings upgrades by international agencies as indicators of Pakistan’s strengthening economic outlook. He also informed the…

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WASHINGTON: Islamabad has sought Beijing’s support for Pakistan’s inclusion in the New Development Bank (NDB) while also expressing appreciation for the growing Chinese investments in agriculture, industry, minerals, and other key sectors of the country’s economy. During a meeting in Washington, DC, Federal Minister for Finance and Revenue Muhammad Aurangzeb held talks with Liao Min, Deputy Finance Minister of the People’s Republic of China, and formally sought China’s backing for Pakistan’s NDB membership, according to a media statement issued on Thursday. “Mr Aurangzeb sought China’s support for Pakistan’s membership in…

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