Pakistan and Iran reaffirmed their commitment to stronger bilateral relations and regional peace during a high-level meeting between Interior Minister Mohsin Naqvi and Iranian Interior Minister Eskandar Momeni in Islamabad. The two leaders reviewed the regional situation following the recent peace agreement and expressed satisfaction over the reduction in tensions, emphasizing the importance of continued […]
Business
PSX surges 1,600 points on buying
Pakistan Stock Exchange (PSX) extended its rally on Wednesday as the benchmark KSE-100 index gained 1,666.85 points. The index climbed 0.94% to 179,359.77 during intra-day trading. The advance highlighted renewed investor confidence and supported market participants across key sectors. The market opened on a positive note and maintained strong momentum throughout the session. Earlier, the […]
Punjab launches crackdown on tax defaulters
The Punjab Revenue Authority (PRA) has intensified its campaign against tax evasion across the province, sealing the offices of 15 property developers and taking action against several businesses for alleged violations of tax regulations. According to a PRA spokesperson, the enforcement drive was carried out on the instructions of Punjab Chief Minister Maryam Nawaz. Operations […]
Pakistan’s Auditor General flags major budget irregularities
Pakistan’s Auditor General has identified significant financial irregularities in the federal government’s accounts for the 2024-25 fiscal year, raising concerns about budget management, parliamentary oversight, and the effectiveness of internal financial controls. According to audit reports covering federal accounts for the 2024-25 fiscal year, a total of Rs3.454 trillion in supplementary grants was obtained by […]
SIFC clears 435-km fuel pipeline linking Punjab to northwest
Pakistan’s top investment body said on Tuesday it had approved a 435-kilometer pipeline project designed to transport refined petroleum products from the country’s central Punjab province to the northwestern Khyber Pakhtunkhwa region, a move aimed to improve energy security, lower transportation costs and reduce reliance on road-based fuel deliveries. The Machike-Thallian-Tarru Jabba White Oil Pipeline […]
Rupee strengthens against dollar
The Rupee on Tuesday appreciated by 1 paisa against the US Dollar in interbank trading and closed at Rs 278.21 compared to the previous day’s closing of Rs 278.22. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market were recorded at Rs 279.05 and […]
OGDCL brings Sahito-1 gas discovery into production
Pakistan’s Oil & Gas Development Company Ltd. (OGDCL) has started gas production from a discovery well in southern Sindh province, the company said on Tuesday, as the state-run producer seeks to raise output and help reduce the country’s reliance on imported fuel. Pakistan faces declining gas production from several mature fields and has increasingly relied […]
Oil industry reports $367m loss after fuel price cut
Pakistan’s oil industry has suffered losses of about Rs104 billion ($367 million) following a sharp government-mandated fuel price cut last week, according to an industry letter seen by Arab News, with oil companies warning that repeated changes to pricing rules are undermining confidence in the sector. The losses stem from a sudden reduction in fuel […]
Gold prices down by Rs 10,400 per tola
The prices of gold witnessed a sharp decline in the local market on Tuesday, with 24 karat gold per tola falling by Rs 10,400 to settle at Rs 432,236 compared to Rs 442,636 on the previous trading day, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association. Similarly, the price of […]
SECP approves 14th IPO of fiscal year
Pakistan’s securities regulator said on Tuesday it had approved the public offering of LSE SPAC-II, marking the 14th initial public offering (IPO) approved in fiscal year 2025-26, as authorities seek to deepen the country’s capital markets and attract more investors. LSE SPAC-II is a Special Purpose Acquisition Company (SPAC), an investment vehicle that raises money […]