NEPRA approves Rs9.9 FCA hike for June on August 14, 2022The National Electric Power Regulatory Authority (Nepra) told ex-Wapda distribution firms (Discos) on Friday that they can charge Rs9.90 per unit additional fuel cost adjustment (FCA) on energy sold in June in order to recover an additional Rs132 billion in August. In a statement, the regulator stated that it “has examined and assessed an increase […]
SBP issues Pakistan’s economy half-year report FY22 on August 13, 2022According to the State Bank of Pakistan’s (SBP) Half Year Report for FY22 on the State of Pakistan’s Economy, which was published on Friday, Pakistan’s economic recovery continued in the first half of fiscal year FY22 (FY22). From the perspective of the first half of FY22, the large-scale manufacturing (LSM) exhibited broad-based expansion; exports grew […]
KSE-100 rises 2.15pc to nearly 43,000 on August 13, 2022The KSE-100 Index at the Pakistan Stock Exchange (PSX) rose 614 points on the week’s final trading day as investors’ confidence returned on the back of encouraging developments at the International Monetary Fund (IMF) and a strengthening currency. When compared to the previous session, both the volume of traded shares and their value grew. Trading […]
Govt intervention needed to salvage dwindling exports: FPCCI on August 13, 2022Irfan Iqbal Sheikh, President FPCCI, has expressed his worries that Pakistan’s exports have decreased by a significant 24 percent in the month of July 2022 on a Month-on-Month (MoM) basis. It is pertinent to note that exports have posted a MoM negative growth after a period of 22 months, i.e., the first time after August […]
KSE-100 ends down 0.59pc on August 11, 2022Late selling pressure on Thursday at the Pakistan Stock Exchange (PSX) caused the KSE-100 Index to fall 0.59pc, ending a five-session surge driven by profit taking. The KSE-100 index has risen steadily since August 2, rising 5.7 percent over the course of five trading days as investor confidence rises and the rupee posts significant gains. […]
SBP launches media campaign on Asaan mobile account on August 11, 2022The State Bank of Pakistan (SBP), in collaboration with Pakistan Telecommunication Authority (PTA) and UK’s Foreign, Commonwealth, and Development Office (FCDO), unveiled the mass media campaign for Asaan Mobile Account (AMA) a flagship initiative under the National Financial Inclusion Strategy, to mark its formal launch. AMA aims to address financial exclusion challenges faced by the […]
Rice production uncertain in FY2023 on August 11, 2022As the sowing area shrinks, water constraint has emerged as the single most significant risk that may shrivel the paddy harvest in fiscal year 2022-23. However, given the availability of a significant exportable surplus every year, the probable dip in rice output may not fundamentally disrupt the demand and supply balance throughout the 2022-23 fiscal […]
KSE-100 gains cut, closes near 42,500 on August 11, 2022This is the fifth straight day that the Pakistan Stock Exchange (PSX) has seen an increase in the KSE-100 index, which has risen 0.95% on the strength of macroeconomic stability and lower oil prices. In anticipation that Druzhba pipeline flows will resume soon, international oil prices declined throughout the day. As of 1124 GMT, Brent […]
Commerce ministry requests government to limit gold imports until the rupee stabilises on August 11, 2022The senate standing committee on commerce met. Senator Fida Muhammad presided over the meeting, which was called for a report on gold imports. The group reviewed a variety of concerns confronting the sector. Import policy details were also disclosed. It was said that the import of gold into Pakistan is now controlled by the Entrustment […]
FMPAC offers support to implement direct subsidy scheme for farmers on August 11, 2022The Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) has offered the federal government its assistance in developing a viable direct subsidy plan for farmers. FMPAC Executive Director Brig. Sher Shah has requested the government in a letter to Finance Minister Miftah Ismail to ensure that the desired advantages of subsidies are passed on to small […]