Business

A competitive cost of energy, particularly electricity tariffs, and its uninterrupted supply are essential for oiling the industry’s wheels. Rejecting the recent hike in electricity bills, the Federation of Pakistan Chambers of Commerce and Industries said it was “debilitating both for residential and commercial consumers, with inflation already killing businesses and rendering them unprofitable and bankrupt”. The various issues related …

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index gained 390 points on Monday on the back of assurances by the army chief regarding ensuring transparency in the foreign exchange rate. According to the PSX website, the index gained 394.77 points to close at 45,707.42 points from the previous close of 45,312.65 points. Arif Habib Corporation Ltd analyst Ahsan Mehanti attributed the gain …

Pace spearhead Shaheen Shah Afridi said bowling in partnerships was the key to rattling India’s batting in the blockbuster Asia Cup clash abandoned because of rain. The left-arm fast bowler took four wickets, including the prize top-order dismissals of India captain Rohit Sharma and Virat Kohli, as Pakistan gained a psychological edge over their great rivals, who had elected to bat …

ISLAMABAD: The overall export earnings showed a modest month-on-month recovery in August as the commerce ministry is set to announce a plan for reopening the operations of more than 1,600 textile industries that were shut down in the past 16 months, a high-ranking government official told Dawn. A strategic framework is being finalised to provide regional competitive energy pricing, working capital …

KARACHI: As the industries had not given any green signal to join the countrywide strike call given by the Jamaat-i-Islami, the overall industrial activities showed a mixed trend due to the low turnout of workers. Industries had already remained shut on Friday on account of Shah Abdul Latif Urs while traders had kept their shops closed on the same day …

WASHINGTON: Pakistan needs to undertake energy reforms and opt for renewable energy sources, said a senior US official, stressing that reforms suggested by the International Monetary Fund (IMF) would help Islamabad break the “vicious circle of debt and international financing”. Principal Deputy Assistant Secretary Elizabeth Horst, who heads the Bureau of South and Central Affairs at the State Department, emphasised …

KARACHI: Equity investors are closely watching the upcoming State Bank of Pakistan’s Monetary Policy Committee (MPC) meeting on Sept 14, anticipating a 200 basis points hike in key interest rates and its potential impact on inflation and economic stability. Simultaneously, all eyes are on an impending visit by a Saudi Arabian delegation, poised to unveil investment plans in Pakistan’s mineral, …

LAHORE: Since the Punjab government has so far been unable to fix the sugar price for sale in the market, it is being estimated that the sugar mills have extorted some Rs50 billion from people in the province, says Punjab food secretary Zaman Wattoo. After the suspension of price notification of sugar at Rs98.82/kg by the Lahore High Court on …

LAS ROZAS: Spain’s Olympic chief said on Friday the actions of football federation boss Luis Rubiales, who has unleashed a furore by kissing a women’s World Cup winning player, were “inappropriate, unacceptable” but did not represent Spanish sport as a whole. Men’s national team coach Luis de la Fuente meanwhile apologised for clapping Rubiales as he refused to quit last …

ISLAMABAD: A day after jacking up the prices of petrol and diesel, the caretaker government on Friday increased the price of liquefied petroleum gas (LPG) by 19.4pc, pushing up the cost of a domestic cylinder by Rs460 for the current month. Pakistan Railways followed suit, raising passenger fares by 5pc. This was the second increase in a month. In a …