Category: bussines

In line with recent fluctuations in the international fuel market, the federal government on Saturday reduced the price of high-speed diesel (HSD) by Rs 12.84 per litre for the next fortnight. The new fuel prices will be effective from August 16, according to an official notification issued by the Ministry of Finance. “The government has decided to revise the petroleum product prices for the fortnight commencing August 16, 2025, in line with the recommendations of OGRA and the concerned ministries,” stated the notification. The high-speed diesel price has fallen from…

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The State Bank of Pakistan (SBP) on Friday unveiled a Rs75 commemorative coin to marks the country’s recent victory in Marka-e-Haq (the Battle of Truth), the military operation against India that has reinforced national unity and pride. In a statement, the central bank said: “To honour the valour of our armed forces during the Marka-e-Haq and to celebrate Independence Day with due dignity, the federal government is pleased to issue a commemorative coin of Rs75 denomination.” The coin weighs 13.5 grams with 79% copper, 20% zinc and 1% nickel. It…

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ISLAMABAD: Prime Minister Shehbaz Sharif on Friday inaugurated a Special Economic Zone (SEZ) to be set up by a Chinese textile group, with a $100 million investment over five years, projected to yield $400 million in exports. The SEZ will be established by the Chinese garments group “Challenge Fashion Private Limited” that has already invested $17 million in Pakistan since 2014. PM Shehbaz, who met with the company’s delegation led by Chairman Huwang Weiguo before the groundbreaking, welcomed the establishment of the SEZ that would facilitate technology transfer, skill development,…

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The Pakistan Stock Exchange (PSX) ended the session flat after earlier gains were wiped out by profit-taking on Friday. PSX’s benchmark KSE-100 Index closed at 146,491.63 points after losing 37.67 points or 0.03%, down from the previous close of 146,529.30 points. However, the PSX registered +0.76% week-on-week increase. Topline Securities said attributed the weekly rise largely to the account of buying by mutual funds. “However, decline in positive stride was observed during the week.” Top positive contribution to the index came from EFERT, LUCK, ENGROH, MEBL & AIRLINK, as they…

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Electricity bills continue to be a key concern for Pakistanis despite the federal government’s attempts to cut down inflated power tariffs. The Sindh government, however, now aims to have its own electricity supply and regulatory authority, with the provincial Energy Minister Nasir Hussain Shah saying that the Sindh Assembly has approved the establishment of Sindh Electric Power Regulatory Authority (Sepra). “Karachi’s industry and residents will be provided with cheap electricity under Sepra,” Shah said in a statement, adding that the Sindh Assembly has already constitutionally approved the Sepra. Noting that efforts…

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ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Wednesday that there was scope for further cuts to Pakistan’s policy rate this year, pointing to declines in both average and core inflation. “At present, the policy rate is at 11%. I am always very careful that the policy rate and the market-based exchange rate are very much the purview of the central bank, the State Bank of Pakistan, and the Monetary Policy Committee,” Aurangzeb said. “Having said that, my own view, and I am giving my personal view here, is that given…

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Moody’s Ratings has upgraded Pakistan’s credit rating with a stable outlook from Caa2 to Caa1, citing the country’s improved financial position supported by a loan from the International Monetary Fund (IMF). The upgrade, the agency said in a statement on Wednesday, was secured after similar moves by S&P Global Ratings and Fitch Ratings in the past four months following repeated pledges by Prime Minister Shehbaz Sharif’s government to stay the course on fiscal consolidation and multiple reforms, it said in a statement.

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The equity market slightly higher on Tuesday, with the benchmark index trading firmly in the green for most of the session as institutional buying and upbeat investor sentiment kept the market buoyant. “Investments from mutual funds is carrying market forward in light of good results, improving US relationships and macroeconomic rerating. Some positivity also expected due to circular debt resolution,” said AAH Soomro, an independent investment and economic analyst. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 147,005.32 points, up 75.48 points, or 0.05%, from the previous close…

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ISLAMABAD: Inflation-weary Pakistanis are expected to get relief as petroleum product prices are expected to drop again from August 16, following an 11-day decline in global crude oil rates, Geo News reported on Monday. According to market data, US crude oil prices have dropped by $5.71 per barrel, from $69.26 to $63.48. Similarly, Brent crude has fallen by $5.72 per barrel, from $71.70 to $65.98. The government will make changes to domestic petroleum prices on August 16. In the previous fortnightly review, the federal government had slashed petrol price by Rs7.54 for…

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Ahead of potential meeting between Presidents Donald Trump and Xi Jinping, China wants the United States to ease export controls on chips critical for artificial intelligence. Financial Times citing unnamed people familiar with the matter said Chinese officials have told experts in Washington that Beijing wants the Trump administration to relax export restrictions on high-bandwidth memory chips as part of trade deal. The White House, State Department and China’s foreign ministry did not immediately respond to requests for comment on the report. HBM chips, which help perform data-intensive AI tasks quickly,…

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