Business

Finance Minister Muhammad Aurangzeb has stated that Pakistan is on track to secure a new loan from the International Monetary Fund (IMF), adding that the money lender had been “very receptive in terms of agreeing to consider a larger, longer programme”. He made the remarks in an interview with The National published on Monday. The finance minister and his team were in …

Pakistan Stock Exchange’s benchmark KSE-100 index closed at a record high of 71,465 points, up 0.8 per cent, after breaching the key 71,000 level on Monday. The KSE-100 index gained 631.86, or 0.89 per cent, to stand at 71,541.76 points at 11:38am from the previous close of 70,909.90. The index closed at 71,433.46 points, up by 523.56 points or 0.74pc, …

Even though Israel and Iran have signalled their intention to walk back down the escalation ladder following their limited but direct ‘tit-for-tat’ strikes against each other since April 13, the world remains on edge due to concerns about the conflict swarming the entire Middle East. A crucial energy supplier and a key shipping passageway, the region has been in the headlines since …

WASHINGTON: Finance Minister Muhammad Aurang­zeb has stated that the process of privatising PIA will be finalised by the end of June or early July, with Islamabad airport potentially following suit shortly after. “The government has no business being in business,” the minister declared at a Saturday afternoon news briefing, explaining the government’s plan to divest from state-owned enterprises (SOEs). “We …

As a prolonged spell of rain delays wheat harvest in the Potohar region, farmers have complained about an unprecedented rise in the cost of harvest, saying it has increased twofold on the back of an increase in the price of petroleum products compared to the previous year. Though the harvest has begun in some parts of the plateau, farmers are …

LAHORE: The agriculture is again facing hard times as farming community is experiencing a double jeopardy; on the one hand, cost of production has doubled since 2023 and, on the other, commodity prices of major crops (wheat, cotton and maize) have slid by 25 per cent on an average basis. Khalid Mahmood Khokhar, president of Pakistan Kissan Ittehad (PKI), said …

KARACHI: The 10 gram and one tola gold rates climbed to an all-time high of Rs216,221 and Rs252,200 on Saturday — up by Rs1,286 and Rs1,500 on the Friday figures. As per rates issued by All Sindh Saraf Jewellers Association (ASSJA), gold rates surged on Saturday due to an $11 per ounce rise in the international market which took the …

ISLAMABAD: Russia has warned Pakistan that it will ban rice imports again if their phytosanitary concerns are not addressed in future consignments. The Federal Service for Veterinary and Phytosanitary Surveillance (FSVPS) of the Russian Federation issued a notification regarding violations of international and Russian phytosanitary requirements over a shipment of rice imported from Pakistan. The notification, numbered FS-SA-3/6592 and dated …

WASHINGTON: Finance Minister Muhammad Aura­ngzeb revealed on Saturday that an IMF team is anticipated to visit Pakistan by mid-May to negotiate a new long-term process, aiming to secure a staff-level agreement by mid-July. Speaking to US-Pakistani media at the conclusion of his week-long visit, the minister mentioned the Fund’s intention to expedite the process. “The contours of the new programme will shape …

Elon Musk postponed a planned trip to India, where he would meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year. “Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Musk posted on …