Pakistan posts $75mn current account gain By: News Desk on September 19, 2024Pakistan’s current account posted a surplus of $75 million in August 2024, as compared to a deficit of $152 million in the same month of the previous fiscal year, revealed data released by the State Bank of Pakistan (SBP) on Wednesday. “The improvement in the current account is due to remittances which clocked in at […]
Food exports surge to $1.011bn By: APP on September 19, 2024Food group exports from the country during the first two months of the current financial year grew by 42.39 per cent as compared to the exports of the corresponding period of the last year. During the period from July-August, 2024, food commodities valued at $1.011 billion were exported as against the export of $710.651 million […]
White oil pipeline project on track By: inp on September 19, 2024Major advancements have been made in the White Oil Pipeline project for Pakistan’s energy infrastructure, in collaboration with the Special Investment Facilitation Council (SIFC). A 477-kilometer-long pipeline is set for construction after an agreement was reached between stakeholders for the Machike, Thalian, and Taru Jabba sections. This flagship project is led by Frontier Works Organization […]
PSX witnesses bullish trend, gains 158 points By: Agencies on September 17, 2024The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Monday, gaining 158.08 more points, a positive change of 0.20 percent, closing at 79,491.14 points against 79,333.06 points on the last working day. A total of 536,187,271 shares were traded during the day as compared to 916,053,875 shares the previous day, whereas the […]
ADB lauds comprehensive reforms, reaffirms continued support By: APP on September 17, 2024The President, Asian Development Bank (ADB), Masatsugu Asakawa here on Monday lauded the government for undertaking comprehensive reforms, leading to progressive signs of economic recovery. During a meeting with Federal Minister for Economic Affairs Minister, Ahad Cheema, he reaffirmed ADB’s continued support to Pakistan for complementing its development and reform agenda. President ADB reposed his […]
Sui Southern Gas Company appoints Amin Rajput as acting CEO, MD By: News Desk on September 17, 2024The Board of Directors (BoD) of Sui Southern Gas Company Limited (SSGCL), Pakistan’s premier natural gas utility provider, has appointed Muhammad Amin Rajput as the acting Managing Director (MD) and Chief Executive Officer (CEO). SSGC shared the development in a notice to the Pakistan Stock Exchange (PSX) on Monday. “The board, in its meeting held […]
Investment Talks: Gunvor, Total Energies meet PM By: APP on September 17, 2024Gunvor Group Torbjorn Tornqvist Chairman and Vice Oceania & Southeast Asia Total Energies President Mehmet Celepoglu Monday called on Prime Minister Muhammad Shehbaz Sharif and discussed potential investment in Pakistan’s energy sector. During the meeting, the prime minister highlighted that after attaining stability, the country’s economy was now moving on the path of growth and […]
Rupee gains 4 paisa against dollar By: APP on September 17, 2024Pakistani rupee on Monday appreciated by 04 paisa against the US dollar in the interbank trading and closed at Rs 278.12 against the previous day’s closing of Rs 278.16. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.90 and […]
Gold rates up by Rs 1,700 per tola to Rs 268,000 By: APP on September 17, 2024The per tola price of 24 karat gold increased by Rs.1,700 and was sold at Rs.268,000 on Monday compared to its sale at Rs. 266,300 on last trading day. The price of 10 grams of 24 karat gold also increased by Rs.1,458 to Rs. 229,767 from Rs. 228,309 whereas the price of 10 gram 22 […]
Workers’ remittances witness 44% increase By: News Desk on September 17, 2024Pakistan has seen a “significant increase” in workers remittances at the beginning of the current fiscal year from July-August, state-run media reported on Monday, crediting the surge to the Special Investment Facilitation Council’s (SIFC) policies and the government’s crackdown on the smuggling of foreign currency. Workers remittances form a cornerstone of Pakistan’s economy, significantly contributing […]