Karachi businesses suffer from blackouts: FPCCI chief on July 6, 2022Irfan Iqbal Sheikh, President FPCCI, has strongly condemned the unscheduled, unrestricted, and destructive load shedding in Karachi to the tune of 10 – 15 hours; which is not only destroying the local economic & commercial activities but also creating a crisis-like situation for many export-oriented industries as various industries and sectors are interlinked and intertwined. […]
As inflation soars, KSE-100 declines on July 5, 2022Due to an increase in inflation and expectations of an interest rate increase by the State Bank of Pakistan in its impending monetary policy announcement, the Pakistan Stock Exchange (PSX) fell on Monday. The KSE-100 dropped 283 points, or 0.68pc, as a result of the triggers working together. The index ended the day at 41,348.19. […]
FPCCI, LUMS join hands for indigenous solutions on July 5, 2022FPCCI President Irfan Iqbal Sheikh has stressed the necessity for Pakistan to develop its own indigenous, research-based, and data-driven solutions for its economic and corporate challenges. Irfan Sheikh was speaking about the importance of policy advocacy and research in fostering industry-academia collaborations at an MoU signing event between FPCCI and LUMS on Monday. Irfan Iqbal […]
Weekly Stocks Review: Stocks close positive with a sense of uneasiness on July 4, 2022It was a good week for the Pakistan Stock Exchange (PSX) as the KSE-100 index rose 579 points to close at 41,630 points in spite of an economic downturn. The KSE-100 index began the week on a good note, with bulls dominating the proceedings, indicating that investor sentiment at the exchange had improved. After the […]
SRO 598 implementation date to be extended: FPCCI chief on July 4, 2022FPCCI president Irfan Iqbal Sheikh has informed that the detailed negotiations with the federal ministry of commerce have been fruitful from the platform of FPCCI and an expected extension in the date of implementation of SRO 598 is soon to be notified. Irfan Iqbal Sheikh has thanked the federal government in advance on behalf of […]
FPCCI supports transformation to Riba free economy: Chief on July 2, 2022Irfan Iqbal Sheikh, president FPCCI, has said that the business community supports the transformation of Pakistan’s economy and banking system to a Riba-free system in accordance with the decision of the Federal Shariat Court (FSC); which requires ban the Riba (interest) from the economy and banking system completely in a period of five years. FSC […]
KSE-100 Index lowest in 8 quarters on July 2, 2022This was Pakistan’s worst quarterly fall in eight quarters as the benchmark KSE-100 Index fell by 8.0pc. A 17pc decline in US dollars occurred in the second quarter of 2022 on the index’s USD value. In FY22, the benchmark KSE-100 Index had a decrease of 12pc, compared to a growth of 38pc in FY21. The […]
Inflation spikes to 14-year high of 21.3% in Pakistan on July 2, 2022Inflation rate in Pakistan spiked to 21.3% in June – the highest pace since 2008 – because of exponential growth in the prices of petroleum products, the Pakistan Bureau of Statistics (PBS) reported on Friday. On a month-on-month basis, inflation soared to a 30-year high as it clocked in at 6.3% in the last month […]
9 districts to benefit if Sukkur airport gets international flights: FPCCI on July 1, 2022Irfan Iqbal Sheikh, President FPCCI, has demanded that the federal government should decisively proceed towards enabling Sukkur airport for international flights; which happens to be a longstanding demand of the business community of the Sindh province. Irfan Iqbal Sheikh has apprised that Sukkur has geographical contiguity with eight big or small districts of Sindh with […]
KSE-100 continues to fall on June 30, 2022On Wednesday, the Pakistan Stock Exchange (PSX) continued its slide, and the KSE-100 index had a loss of 1.12pc, bringing it below the 41,500-point threshold. The National Assembly debate on the revisions connected to Finance Bill 2022 and its ratification kept market participants on the sidelines, which resulted in the equity market seeing low trading […]