Economy

Gold prices saw a significant jump on Monday, impacting both the local and international markets. In Pakistan’s local gold markets, the price of 24-carat gold surged by Rs2,500 per tola, bringing it to a new high of Rs269,900. Similarly, the price per 10 grams increased by Rs2,144, reaching Rs231,396. On the international front, the price of gold per ounce rose …

As major cities around the world light up with festive decorations in November, urban centers in northern Pakistan prepare for a very different season—a season shrouded in hazardous smog. From November to February, millions face dangerous air pollution levels, with far-reaching health and economic consequences. The smog season, Pakistan’s second-largest health threat after cardiovascular disease, sends thousands to hospitals every …

Pakistan Stock Exchange (PSX) Hits New Record as KSE-100 Index Surges Over 94,000 Points The Pakistan Stock Exchange (PSX) witnessed a strong start to the week as the KSE-100 Index hit a new record on Monday. During intra-day trading, the index surged by 526 points or 0.59%, briefly crossing the 94,000-point threshold at 11 am. The market closed at 93,648.32 …

VPN Block Trial in First Step Toward Internet Regulation On Sunday, the Pakistani government tested a six-hour block on over two dozen Virtual Private Networks (VPNs), marking a significant move toward internet regulation in the country. The trial, conducted between 4pm and 10pm, was the first time a government firewall visibly impacted internet access nationwide. The VPN block affected both …

Addressing Food Security in Pakistan Amidst Double-Digit Inflation Food security remains a significant issue in Pakistan, where double-digit inflation strains households and the agriculture sector. Recent data from the Pakistan Bureau of Statistics (PBS) shows food inflation averaging over 35% in the first half of fiscal year 2024. This rise has weakened citizens’ purchasing power and exposed inefficiencies in crop …

Pakistan’s Request for Debt Rescheduling Pakistan has formally requested China to reschedule $3.4 billion in official and guaranteed debt for two years. This extension is crucial for Islamabad as it faces a $5 billion external financing gap identified by the International Monetary Fund (IMF) during the signing of a recent $7 billion bailout package. Much of this debt is owed …

The Pakistan Stock Exchange (PSX) continued its impressive rally, closing the week on a high note as the KSE-100 index surged by 619 points, reaching a record 93,140.26 during intra-day trading. This historic rise comes amid positive economic forecasts, increased foreign investment, and a strong performance across various sectors. Record-Setting Day for the KSE-100 Index Starting the day on a …

In a move to provide financial relief and stimulate increased electricity consumption, Pakistan’s government is drafting a winter package that could reduce electricity prices by up to Rs8 per unit. The Power Division and Ministry of Finance, along with other departments, are collaborating on this initiative, which aims to support both residential and industrial users over a three-month winter period. …

The Senate Standing Committee on Power, chaired by Senator Mohsin Aziz, was informed of significant oversights and negligence in determining tariffs for Independent Power Producers (IPPs) in Pakistan. A lack of technology assessments and efficiency testing were noted as major gaps in the process, impacting the overall power sector costs. Key Issues Highlighted During the committee meeting, Muhammad Ali, Special …

The Pakistan Stock Exchange (PSX) has soared to new heights, with the KSE-100 Index reaching a record high of 91,916 points. This remarkable increase reflects optimism in the market, largely driven by expectations that the State Bank of Pakistan (SBP) will announce a significant rate cut soon. KSE-100 Index Climbs to All-Time High On Monday, the KSE-100 Index surged by …