Latest posts
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Downward Trend in Gold Prices Halts Across Global and Local Markets; Gold Increases in Value
Downward Trend in Precious Metal Prices Halts; International Gold Rises by $6 While Local Rates Register an Increase KARACHI: Gold prices across the world and in the country have finally turned up, ending a prolonged downward trend in recent trading sessions. The price of 24-carat gold up in domestic markets rose by Rs600 per tola…
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Direct Shipping Service from Karachi Port to Europe Restored
Direct Shipping Service from Karachi Port to Europe Restored; Connectivity Re-established with Seven European Ports KARACHI: After many efforts by the federal government, direct weekly shipping services between Karachi Port and European destinations have officially resumed and re-established the important shipping lanes with seven major European ports. Global shipping line MSC has started its ‘IPAK’…
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Staff-Level Agreement Reached Between Pakistan and IMF
Staff-Level Agreement Reached Between Pakistan and IMF; Paves Way for $1.21 Billion Loan Disbursement ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have finished review talks successfully and a landmark staff-level agreement has been reached to release 1.21 billion financial disbursement. The IMF said Pakistan’s economy has been able to steer clear of the macroeconomic…
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Gold Prices Witness Significant Drop Again in International and Local Markets After One-Day Rise
Gold Prices Register Major Drop Again in Global and Local Markets After Single-Day Surge KARACHI : Gold prices had a quick correction down in both international and domestic bullion markets after a one-day upturn. The price of 24k gold per tola saw a significant drop of Rs3,100, reducing the current price of gold to Rs434,436,…
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Powering Pakistan’s Green Revolution: How OGDCL’s Landmark PINSTECH Deal is Turning Subsurface Brine Into a National Treasure
While conventional energy companies remain tied solely to fossil fuels, Pakistan’s national flagship, the Oil and Gas Development Company Limited (OGDCL), is aggressively future-proofing the nation’s economy. In a monumental technical partnership, OGDCL has signed a major agreement with the Pakistan Institute of Nuclear Science and Technology (PINSTECH) to conduct advanced elemental and radioactive profiling…
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Ministry of Finance Fulfills Another IMF Condition
Ministry of Finance Fulfills Another IMF Condition; SOEs’ Six-Month Profit Declines to Rs423.3 Billion Amid Economic Adjustments ISLAMABAD: The Ministry of Finance has just officially published the detailed bi-annual performance report of State Owned Enterprises (SOEs) for the first half of the fiscal year, as part of another IMF conditionality requirement The total profits of…
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Customs Recommends Joint Investigation Team for Rs1.3 Billion Under-Invoicing and Trade-Based Money Laundering Case
Customs Recommends JIT Over Suspected Billions in Trade-Based Money Laundering; Two Private Companies Declared Fake Entities KARACHI: After the discovery of a big Rs1.3 billion under invoicing scam linked to two private companies that were declared as alleged fake and paper entities by Pakistan Customs, the agency has suggested the establishment of a Joint Investigation…
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Progress in IMF Talks: Government Shares DISCOs Privatization Plan and Timeline
Progress in IMF Talks: Government Shares DISCOs Privatization Plan and Timeline; Completion Targeted by December 2027 ISLAMABAD: The fourth economic review negotiations between Pakistan and the International Monetary Fund (IMF) moved a step closer to success, with the government making a detailed package of privatization of power distribution companies (DISCOs) available. The first phase is…
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Government Increases Petroleum Prices Further
Government Announces Further Increase in Petroleum Product Prices; New Petrol Rate Set at Rs392.76 Per Liter ISLAMABAD: The Federal Government has declared another hike in the prices of petroleum products in the country, thereby pushing consumer cost up further. The revised rates have been effective from the official notification by Oil and Gas Regulatory Authority…
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Directorate of National Savings Declares 111 Centers Inefficient and Financially Unsustainable; Relocation or Closure Proposed
Directorate of National Savings Declares 111 Centers Inefficient and Financially Unsustainable; Relocation or Merger Proposed ISLAMABAD: The Directorate of National Savings has announced 111 NS centres in the country as inefficient and financially unsustainable due to failure to meet the operational cost guidelines. Operating expenses are capped at a strict Rs2,500 per Rs1 million of…