Latest News

PSX surpasses 72,000 and reaches an all-time high.

Published

2 weeks ago

Farwa

During intraday trading, the benchmark KSE-100 index increased by 854.19 points from its previous finish of 71,359.40 points to stand at 72,213.59.

The KSE-100 index broke yet another record, according to Muhammad Sohail, CEO of Topline Securities. According to him, following a record current account surplus, consumer inflation is anticipated to decline.

This outstanding accomplishment indicates strong growth potential in the near future and demonstrates investors’ faith in the nation’s economic prospects.

On Monday, the KSE-100 index broke beyond the crucial 71,000 threshold.

The KSE-100 Index dropped 74.06 points (-0.10 percent) to close at 71,359.40 points on Tuesday, marking a turbulent session for the Pakistan Stock Exchange.

Although the market started the day on a strong up note, trading remained erratic as the index fluctuated in both directions.

The last 45 minutes saw significant selling pressure on the index as a result of profit-taking; otherwise, the session had stayed in the range.

It is important to note that Islamabad is presently expecting the transfer of $1.1 billion under the terms of the stand-by arrangement (SBA), which was signed in the final days of the coalition government led by the PDM and was in force from July 1, 2023, to March 31, 2024.

It was previously reported that Pakistan has formally requested the International Monetary Fund (IMF) to seek the next bailout package under the Extended Fund Facility (EFF), which is expected to total between USD 6 and USD 8 billion.

Pakistan has applied twice to the International Monetary Fund (IMF) for support under two different categories: additional climate funding and the extended fund facility (EFF).

Business

Pakistan’s gold prices continue to decline.

Published

3 days ago

Farwa

The price of ten grams of 24 carat gold dropped by Rs 1,201 to Rs 205,418 from Rs 206,619, while the price of ten grams of 22 carat gold dropped to Rs 188,300 from Rs 189,400, according to the All Sindh Sarafa Jewellers Association.

Silver, priced at Rs. 2,620 per tola and Rs. 2,254.80 per ten grams, stayed at that level. As reported by the organization, the price of gold dropped by $11 on the global market, to $2,297 from $2,308.

Business

Price of LPG “slashed” by Rs. 20 per kilogram

Published

3 days ago

Farwa

Sources claim that LPG rates have been lowered by Rs 20, making the cost per kilogram drop from Rs 280 to Rs 260.

It is noteworthy to remark that the costs of LPG were reduced by Rs 20 per kilogram earlier, resulting in a total reduction of Rs 40 per kilogram within a few weeks.

The price of liquefied petroleum gas for the month of May 2024 was lowered by the Oil and Gas Regulatory Authority (OGRA) on April 30.

The LPG tariffs were lowered by Rs 11.88 to Rs 238.46 per kilogram in accordance with the OGRA’s notice. On Wednesday, May 1, 2024, the new rates will go into effect.

In April of last year, the price per kilogram of LPG was Rs 250.34. pricing reduction of Rs 140.18 has resulted in a new pricing for home LPG cylinders set for May 2024 of Rs 2813.85.

The OGRA reported a drop in liquefied petroleum gas pricing in April. The price of LPG is now Rs 250.34 per kg instead of Rs 256.78 due to a reduction of Rs 6.44 per kg.

The price of the household cylinder was fixed at Rs 2954.03 for the month of April, down from Rs 3030.12, a decrease of Rs 76.9.

Business

ADB delegation stops by FBR headquarters

Published

3 days ago

Farwa

Senior Director ADB Tariq Niazi oversaw the expedition, which also involved Sana Masood, Farzana Noshab, and Senior Public Sector Management Specialist Laisiasa Tora. The meeting included presentations from economists as well, according to an FBR press release.

The officers focused on structural and policy adjustments as they discussed the Domestic Resource Mobilization Program’s implementation at the meeting.

$300 million was given to the Pakistani government by ADB in December 2023 as a result of the hard work and dedication of FBR. Better laws, regulations, and institutional capability for the FBR were established by Sub-Program I.

With the $300 million in funding provided by the Asian Development Bank (ADB) to the Government of Pakistan in December 2023, the delegation conveyed satisfaction with the program’s effective launch.

The FBR also underlined how crucial digitization is to recording the economy and boosting productivity in a sustainable way.

In order to promote the Government of Pakistan’s Digital Tax Administration Project, both parties decided to look into measures to improve their cooperation.