Economy
K-Electric seeks power tariff hike of Rs 18.86 under FCA
Islamabad, April 29, 2024 : K-Electric has submitted an application to the National Electric Power Regulatory Authority (NEPRA) seeking a substantial Rs18.86 per unit increase in the power tariff. This request is attributed to the monthly Fuel Charges Adjustments (FCA) spanning seven months. NEPRA is scheduled to conduct a hearing on the K-Electric application on…
Monetary Policy: SBP keeps policy rate unchanged
Karachi, April 29, 2024 : On Monday, the State Bank of Pakistan (SBP) opted to maintain the policy rate at 22 percent for the seventh consecutive session. The announcement followed a meeting of the bank’s Monetary Policy Committee (MPC). In its statement, the MPC emphasized the importance of maintaining the current monetary policy stance to…
PSX concludes on downward trend, drops 1,047 pts
Karachi, April 29, 2024 : The KSE-100 index of the Pakistan Stock Exchange (PSX) ended Monday on a negative trajectory, shedding 1,047.71 points with a decline of 1.44 percent, closing at 71,695.03 points compared to the previous trading day’s 72,742.74 points. During today’s trading session, the PSX 100-index displayed a wide range of movement, reaching…
USD strengthens against Pakistani rupee
Karachi, April 29, 2024 : On Monday, the Pakistani Rupee experienced a marginal decrease of Rs 0.1 paisa against the US dollar in interbank trading, concluding at Rs 278.39, as opposed to the previous day’s closing rate of Rs 278.38. As per the Forex Association of Pakistan (FAP), the open market saw the dollar’s buying…
Indus Motor braves another quarter as it announces financial results
Karachi, 29th April 2024: Indus Motor Company (IMC) announced its financial results for the nine-month period ending March 31, 2024, that witnessed a 61% increase in profit after tax, to PKR 9.41 billion, compared to PKR 5.84 billion, for the same period last year. IMC’s net sales turnover for the nine-month period decreased to Rs….