In a key development towards improved internet connectivity in Pakistan, the Africa-1 submarine cable is set to make landfall in Karachi at PTCL’s Sea View landing station on Saturday, February 22, 2025. PTCL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday. “The groundbreaking celebration for joining the high capacity, […]
Business
IMF confirms Pakistan visit to review $7bn loan program
The International Monetary Fund (IMF) has confirmed that a delegation will visit Pakistan in mid-March to review the country’s $7 billion loan program. According to IMF representative, Mair Benitez, the delegation will hold discussions with Pakistani authorities on the first review under the loan program. In addition to reviewing the loan program, the IMF delegation […]
Sugar to be sold at Rs130 per kg during Ramazan
Minister for Industries and Production Rana Tanveer Hussain on Friday directed Chief Secretaries of all provinces to establish sugar stalls at the municipal council level and ensure uninterrupted supply of the commodity at Rs.130 during the holy month of Ramazan. According to a press release issued by the Ministry of Industry, the minister was chairing […]
No more free rides, all segments must pay tax, says finmin
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said here on Thursday that country’s retail sector, which contributes a significant 19% to the country’s GDP, is paying a mere 1% in taxes, sparking concerns over the sector’s lack of contribution to the national exchequer. Speaking at a conference on “Retail Reimagined: Innovate, Collaborate & […]
Power generation decreases in January as demand dips
Power generation in Pakistan clocked in at 8,152 GWh (10,957 MW) in January 2025, a decrease of 2% YoY compared to the same period of the previous year, amid a decline in the overall demand. Back in January 2024, power generation stood at 8,314 GWh (11,175 MW). On a monthly basis, power generation improved by […]
Gold up by Rs1,000 per tola to Rs309,000
The price of 24 karat per tola gold increased by Rs.1,000 and was sold all time high at Rs 309,000 on Thursday against its sale at Rs 308,000 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported. The price of 10 grams of 24 karat gold also increased by Rs 857 to […]
Rupee remains unchanged against dollar
The Rupee on Thursday remained unchanged against the US Dollar in the interbank trading and closed at Rs279.46. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.85 and Rs 281.35, respectively. The price of the Euro decreased by 55 […]
Oil output rises by 10,000 BPD due to tech innovation: minister
Federal Minister for Petroleum Dr. Musadik Malik on Thursday underscored the transformative impact of technological advancements on Pakistan’s energy sector, revealing that a single innovation has led to a 10,000-barrel per day (BPD) increase in the Oil and Gas Development Company Limited (OGDCL)’s oil production. Addressing a celebration event organized by OGDCL and Schlumberger, he […]
Bank of Khyber begins transition to Islamic banking
Bank of Khyber (BoK) has formally initiated its transition into a full-fledged Islamic bank, the bank shared the development in its notice to the Pakistan Stock Exchange (PSX) on Thursday. “The bank has initiated the process for conversion from conventional to Islamic bank,” BoK said. The development comes as Islamic banking in Pakistan has seen […]
Mobile phone imports decreases 12.04pc to $868.55m in 7 months
The import of mobile phones into the country has witnessed a decrease of 12.04 percent during the first seven months of the current fiscal year (2024-25) as compared to the corresponding months of last year. Pakistan imported mobile phones worth US $ 868.551 million during July-January (2024-25) as compared to the imports of US $ […]