Express
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Gold prices tumble after reaching record high | The Express Tribune
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[ad_1] In the international bullion market, the price of gold per ounce dropped by $16, bringing it down to $2,417 from the previous price of $2,433. Consequently, in local markets on Monday, the price of 24-carat gold per tola decreased by Rs300, settling at Rs256,500. Similarly, the price of 10 grams of gold saw a…
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Govt forms task force for urgent power sector overhaul | The Express Tribune
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[ad_1] Following widespread protests over skyrocketing electricity bills, Prime Minister Shehbaz Sharif has announced the formation of a task force to implement structural reforms in Pakistan’s power sector, according to media reports. The task force aims to alleviate the financial burden on the government and establish a more efficient, self-sustaining power market. Sources reveal that…
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Financial globalisation and shrinking policy space | The Express Tribune
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[ad_1] LAHORE: The economy has stabilised to some extent with the stabilisation measures initiated in May 2022. The policy rate, which was jacked up to 22%, has come down to 19.5% in a recent monetary policy announcement. Similarly, the fiscal deficit decreased to 6.8% in fiscal year 2023-24 by cutting down development expenditure to 2%…
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SIFC initiatives boost Pakistan’s exports to $30.64 billion | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan achieved a remarkable boost in its exports during the fiscal year 2023-2024, driven by the efforts of the Special Investment Facilitation Council (SIFC), according to data released by the Pakistan Bureau of Statistics (PBS), The country’s export of goods soared by 10.54%, reaching $30.64 billion, compared to the previous year. While exports…
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Govt adopts irrational pricing policy | The Express Tribune
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[ad_1] LAHORE: Pakistan is facing a low growth trap while the new budget essentially increases expenditure through more borrowing and a higher burden of taxes. Increasing expenses, based on heavy borrowing, just raise the payments on borrowing, which now account for 57% of the total expenditure. This policy is clearly profligate and not sustainable; therefore,…
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Cement sales fall 7% as economic activity slows | The Express Tribune
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[ad_1] LAHORE: Cement sales dropped 6.81% as they remained at 3.010 million tons in July 2024 compared to 3.230 million tons in the same month of last year. According to data released by the All Pakistan Cement Manufacturers Association, local cement sales of the industry were 2.463 million tons in July, down 11.41% from 2.780…
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PSX remains volatile amid mixed indicators | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) experienced volatility in the outgoing week as it oscillated between red and green zones and closed with thin gains of nearly 200 points. The market’s movement was largely influenced by mixed investor sentiment over the growing political uncertainty, policy rate cut, rating decisions of global agencies and improved economic…
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MSCI set to add four Pakistani firms to FM index | The Express Tribune
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[ad_1] KARACHI: Morgan Stanley Capital International (MSCI) is expected to include four additional Pakistani companies in its global Frontier Market (FM) index next month, driven by a rise in their share prices. This move is likely to attract international investors, who manage multibillion-dollar portfolios and track the index for global investment decisions. The global index…
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Gold prices dip in international and local markets | The Express Tribune
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[ad_1] Gold prices have decreased in both international and local markets, as reported by industry sources. The dip came a day after gold surged to a new all-time high of Rs257,300 per tola (11.66 grams) in Pakistan. The surge was attributed to weaker US employment data and escalating political tensions in the Middle East. According…
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Gold soars to record high | The Express Tribune
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[ad_1] KARACHI: Gold surged to a new all-time high of Rs257,300 per tola (11.66 grams) in Pakistan on Friday, driven by weaker US employment data and escalating political tensions in the Middle East. According to the All Pakistan Sarafa Gems and Jewellers Association, the precious metal jumped Rs2,400/ tola in a single day, marking a…
