Karachi, August 02, 2024: On Friday, the Pakistani rupee (PKR) continued its recovery, appreciating by Rs 0.16 against the US dollar in interbank trading, closing at Rs 278.50 compared to the previous day’s closing of Rs 278.66. According to the Forex Association of Pakistan (FAP), the dollar’s buying and selling rates in the open market…
Karachi, August 02, 2024: On the last business day of the week, the 100-index of the Pakistan Stock Exchange (PSX) experienced a bullish trend, gaining 485.68 points, or 0.62%, closing at 78,225.98 points compared to the previous 77,740.31 points. During intraday trade, the KSE-100 index peaked at 78,434.16 points and dipped to a low of…
Karachi, August 01, 2024: On Thursday, Jamaat-e-Islami (JI) announced a new date for its sit-in outside the Sindh Governor’s House. The sit-in, initially scheduled for July 31, was postponed due to the martyrdom of Hamas Chief Ismail Haniyeh. According to a JI spokesperson, the rescheduled sit-in will take place on August 3 (Saturday) at 5…
Karachi, August 01, 2024: K-Electric’s Power Generation Cost 200% Higher Than National Grid Average: Document. A recent document reveals that K-Electric has been generating electricity at a cost 200% higher than the national average. In June, K-Electric’s generation cost exceeded Rs 58 per unit, compared to the national average of Rs 26.80 per unit. The…
Karachi, August 01, 2024: An annual report on payments to Independent Power Producers (IPPs) revealed that five major powerhouses received tax-free payments. According to the report, Hub Power received Rs 260 billion at 16 percent capacity from the government, Engro received Rs 74 billion at 54 percent capacity, and Lucky Group received Rs 62 billion…