Business

KARACHI: Pakistan Stock Exchange (PSX) has been awarded the best Islamic stock exchange award by Global Islamic Finance Awards (GIFA) for the year 2021. PSX has a robust platform for providing Shariah-compliant products including dedicated Islamic indices, equities and debt instruments. Speaking at the occasion, PSX Chairperson Dr Shamshad Akhtar stated it was definitely an immense achievement for PSX to …

ISLAMABAD: The German airline Lufthansa is keen on resuming flight operations to Pakistan after 13 years, a high-level business delegation from Germany informed the Board of Investment (BoI) on Tuesday. The German business delegation that included Lufthansa representatives told BoI Secretary Fareena Mazhar the airline — second largest in Europe in terms of passengers carried — was seriously considering resuming …

ISLAMABAD: Finance Minis­ter Shaukat Tarin on Tuesday announced more than 32 per cent increase in the issue price of wheat — from Rs1,475 to Rs1,950 per 40kg — for release to mills and said the government would provide direct cash subsidy to the vulnerable population on four essential commodities — wheat, sugar, ghee and pulses. Speaking at a news conference, …

KARACHI: The Sui Southern Gas Company Ltd (SSGCL) on Monday announced that it will suspend gas supplies to all the CNG stations across Sindh and Balochistan from midnight Sept 14 for four days. The company said supplies to CNG stations will be restored from 8am (Sept 18). The decision to suspend gas supply to CNG outlets was taken due to …

LAHORE: The Water and Power Development Aut­hority (Wapda) says it recorded 8,854 megawatts of hydel power generation on Sunday night — the highest peak-hour hydel generation of the year so far, and 1,277MW more than the level achieved on the same day last year. The generation included 4,926MW by the Tarbela hydel power station, which is 38MW more than the …

ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Monday approved cheaper winter tariff for electricity consumers on incremental consumption and cleared a controversial payment of about Rs131 billion to 11 independent power producers (IPPs) of the 2002 power policy — barring Nishat Chunian. The meeting, presided over by Planning Minister Asad Umar, also cleared the Pakistan Oil Refining Policy, 2021, …

ISLAMABAD: Prime Minister Imran Khan has said that the government is focusing on the ‘ease of doing business’ policy and extending facilities to investors. During a meeting with heads of Chinese companies on Monday, he expressed the confidence that Chinese investment in Pakistan would open up immense employment opportunities. The prime minister said Pakistan could learn a lot from China …

The value of the dollar reached an all-time high against the rupee on Tuesday, reaching Rs168.9 in the interbank market. According to an update posted at 11:39am on Mettis Global, a web-based financial data and analytics portal, the rupee slipped by 80 paisa against the dollar on Tuesday morning, continuing its losing streak against the greenback. The update said the …

Despite being a small district Matiari is socio-economically and culturally vibrant. Without mentioning Shah Abdul Latif Bhitai, a mystic saint, the profile of the Matiari district would always be incomplete. The sufi’s shrine is located in Bhitshah — a town known internationally where men and women with mystic leanings from different parts of the world throng every 14th of Safar, …

Spurred by falling solar photovoltaic (PV) prices and escalating grid tariffs, solar installations, especially those on rooftops, have seen rapid growth in Pakistan. These solar investments, both residential and commercial, are also supported by a decent net metering regime that lets consumers sell excess solar generation during daytime back to the grid. However, despite having a renewables refinance facility from …