PSX gears up for the year’s first IPO

In less than five months, the benchmark index of the Pakistan Stock Exchange (PSX) has recorded mind-blowing gains of 49 per cent. The index, which dropped to 28,764 points in August 2019, is now hovering around 43,200 points. A small number of active blue-chip companies are now touching their fair values, which has heightened the […]

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Oil import bill falls by 20pc in first half of current fiscal year

ISLAMABAD: Pakistan’s oil import bill and local production of petroleum products declined by almost 20 per cent and 12pc, respectively, during first half of the current fiscal year, a clear sign of economic slowdown. According to data released by the Federal Bureau of Statistics (PBS), the oil import bill during the first six months (July-December […]

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Capitalism seen doing ‘more harm than good’ in global survey

A majority of people around the world believe capitalism in its current form is doing more harm than good, a survey found ahead of this week’s Davos meeting of business and political leaders. This year was the first time the Edelman Trust Barometer, which for two decades has polled tens of thousands of people on their […]

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ECC approves duty-free import of 0.3m tonnes of wheat to mitigate ongoing crisis

The Economic Coordination Committee (ECC) on Monday approved the import of 0.3 million tonnes of wheat without regulatory duty amid an unprecedented price hike and country-wide shortage during the past few days. Chaired by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Sheikh, the committee has allowed for wheat to be imported till […]

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Faisal Vawda held US nationality at the time of filing election nomination papers: report

Federal Minister for Water Resources Faisal Vawda was a dual national at the time of filing his nomination papers to the Election Commission of Pakistan (ECP) to contest the 2018 general elections, The News reported on Monday. The minister, who was recently reprimanded by the premier for bringing a ‘boot’ to a TV show in a bizarre gimmick, was […]

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LHC adjourns hearing of petition seeking removal of Nawaz’s name from no-fly list

The Lahore High Court (LHC) on Monday adjourned the hearing of a petition seeking the removal of former prime minister Nawaz Sharif’s name from the Exit Control List (ECL). A two-member bench, headed by Justice Tariq Abbasi, presided over the proceedings. Asked by the court when Nawaz is expected to return, his counsel contended that […]

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Opposition, govt agree to drag ongoing Senate session

ISLAMABAD: Despite having no serious business in hand, the government and the opposition have agreed to drag the ongoing Senate session for the whole month of February merely to meet the constitutional requirement of remaining in session for a minimum of 110 days in a parliamentary year. Holding each other responsible for the unusual situation, […]

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Sindh IGP to remain in place until federal govt responds, SHC rules

The Sindh High Court on Monday ordered for Inspector General of Police Kaleem Imam to not be removed from his post until the federal government replies to the provincial government on the matter. The court gave these orders while hearing a petition — by social activist and budding politician Jibran Nasir — against the Sindh […]

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Wheat row: Senators demand apology from govt for making ‘mockery of people’

Members of the Senate on Monday lambasted the government for the wheat shortage and rising prices of essential commodities in the country, while also condemning a federal minister’s remarks on the issue, which they said made “a mockery of the people of Pakistan”. “This issue concerns the people of Pakistan,” said Senator Sirajul Haq, the […]

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