Business

KARACHI: Stocks staged a spectacular rally on Wednesday with the KSE-100 index rebounding after several bleak sessions to close at 39,849.96, representing hefty gains of 722.48 points (1.85 per cent). Market capitalisation recovered Rs121bn. Trading started on a positive and the index climbed to intraday high by 793 points. The significant feature was the end of selling by individuals which …

ISLAMABAD: A meeting of the Board of Approvals (BOA) for Special Economic Zones (SEZs) on Wednesday formally approved three new SEZs, taking the total number of such areas in the country to 20. The meeting was presided over by Prime Minister Imran Khan. According to an official announcement of the PM Office, the new SEZs were National Science & Technology …

RAWALPINDI: The business community of Rawalpindi has expressed concerns over the growing political uncertainty, saying it will ultimately affect the national economy. It urged the government to resolve issues amicably. Talking to different trade delegations, Rawalpindi Chamber of Commerce and Industry (RCCI) President Mohammad Nasir Mirza said the business community had grave concerns over the growing political and economic uncertainty …

ISLAMABAD: Prime Minister Imran Khan on Tuesday said the government would ensure abundant availability of wheat and sugar in the country and directed the relevant departments for complete crackdown against those involved in hoarding of essential commodities. He said this during a meeting to review wheat and sugar stocks, availability, demand and supply, import to meet future requirements and prices …

• Step aimed at absorbing surplus re-liquefied natural gas • ECC meets today to consider revising subsidised prices of essential items ISLAMABAD: Amid supply chain challenges that affected the compressed natural gas (CNG) sector in the past, the government is set to allow new licences to CNG stations purely on the basis of imported re-gasified liquefied natural gas (RLNG) supply. A …

WASHINGTON: The global economy is in “less dire” shape than it was in June but risks crashing again if governments end fiscal and monetary support too soon, fail to control the coronavirus and ignore emerging market debt problems, International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday. Georgieva told an online London School of Economics event that the IMF …

LAHORE: The provincial cabinet, which met here on Tuesday with Chief Minister Usman Buzdar in the chair, decided to import 300,000 tonnes of sugar through the Trading Corporation of Pakistan and told the food department to enter into an agreement with the TCP for purchasing the imported sweetner. The meeting also decided to amend the Sugar Factories Control Act (1950) …

ISLAMABAD: With the completion of quorum, the Oil & Gas Regulatory Authority (Ogra) is expected to settle — on priority and with majority vote — a dispute over system losses which has holding back the prices of Regasified Liquefied Natural Gas (RLNG) for two months now. The regulator has not notified RLNG prices after July owing to the disagreement between …

ISLAMABAD: Pakistan will ramp up spot buying of liquefied natural gas (LNG) from the international market, seeking up to six cargoes for December, its procurement subsidiary said on its website, as the country prepares for a potentially crippling gas shortage. December and January see the largest spike in demand for gas in Pakistan, but this year the demand-supply shortfall will …

PESHAWAR: The federal government will invest up to Rs20 billion in Peshawar Electric Supply Company (Pesco) to ensure uninterrupted power supply to Khyber Pakhtunkhwa, particularly the provincial capital and its suburbs. According to an official statement, under the proposed plan various projects including establishment of new grid stations, installation of new power transmission lines and bifurcation of feeders would be …