Business

KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) closed at 45,045 points on Monday after gaining 173 points, or 0.4 per cent, from a day ago. The KSE-100 index closed in the green zone despite increased foreign outflows. Foreigners have been selling shares for many sessions mainly because of the reclassification of Pakistan from the MSCI Emerging Market …

ISLAMABAD: The first quarter of the current fiscal year (1QFY22) posted a rise of more than 100 per cent in trade deficit driven largely by an almost triple increase in the country’s imports compared to exports, the Pakistan Bureau of Statistics (PBS) said on Monday. The merchandise trade deficit reached $11.664 billion in July-September 2021 from $5.814bn over the corresponding …

The birthplace of known poets like Faiz Ahmad Faiz and Shiv Kumar Batalvi, writer Afzal Ahsan Randhawa and showbiz personalities Dev Anand and Rajendra Kumar, Narowal is located at the North-East tip of the barani areas in Punjab along Indian borders. It was given the status of a district in 1991. The historic Gurdwara Darbar Sahib Kartarpur, one of the …

While rising domestic production did not address growing dependence on foreign goods and services nor did exports move fast enough to keep the trade deficit from taking an unsustainable path, policymakers are now considering regulatory measures to curb surging imports. According to State Bank of Pakistan (SBP) data, the import bill rose 62.2 per cent to over $13 billion during …

For Pakistan to increase its informational technology (IT)/information technology-enabled services (ITeS) exports, one of the most critical things is good quality IT/ITeS workers as our exports are directly proportional to the number of quality IT professionals we produce. Pakistan’s IT/ITeS exports are growing at a remarkable rate of 45 per cent per year. These exports are much needed as they …

ISLAMABAD: Even though improvements have been introduced in reporting requirements for real estate sector through the Designated Non-Financial Business and Professions (DNFBPs) initiative, a lot of transactions in the sector still take place in the grey area, which may pose serious challenges to the system. “There are many housing societies and market players who are trading open files worth Rs1 …

CHAGAI: Immigration clearance to Iran started on Sunday after Iranian authorities lifted travel ban on Pakistani citizens having business and student visas and allowed several people to enter the country via Taftan. According to official sources, the immigration clearance at Taftan border was closed almost three months ago following restrictions after resurgence of coronavirus cases in Iran. However, Pakistani citizens …

KARACHI: Refineries are in a stand-off with the government. If it was a staring contest, they would’ve already lost by blinking at least three times. Yet the contest continues as the country’s energy czars insist the crude refiners must cede further ground. One side paints the other as rent-seeking leeches that have fed off the taxpayer money for decades. Conversely, …

LAHORE: The price of compressed natural gas (CNG) jumped on Saturday to Rs184 per kilogram in Sindh and Rs123 per litre in Punjab — an increase of Rs15 per kg and Rs8 per litre, respectively. The new rates notified by the CNG association came into effect on Saturday. “The government procured liquefied natural gas (LNG) from the international market at …

NEW DELHI: Pace bowling legend Waqar Younis believes Babar Azam-led Pakistan can beat arch-rivals India in their opening encounter of the Twenty20 World Cup if they play to their potential. The much-anticipated India-Pakistan clash takes place on Oct 24 in Dubai. Both India and Pakistan have been drawn in Group 2 of the T20 World Cup Super 12 stage which …