Jul 20

Stock market gains 320 points amid activities in cement, power sectors

KARACHI: The stock market gained 320 points on Monday as activities were seen in cement and power sector, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,651 points as against 37,331 points showing an increase of 320 points. Analysts at Arif Habib Limited said that the benchmark index made yet […]

by Mrs. Anjum Shahnawaz

Rupee weakens by 97 paisas on import payment demand

Jul 20

Money & Banking

Rupee weakens by 97 paisas on import payment demand

KARACHI: The Pak Rupee weakened by 97 paisas to the dollar on Monday owing to higher demand for import and corporate payments. The rupee ended Rs168.30 to the dollar from last Friday’s closing of 167.33 in interbank foreign exchange market. Currency experts said that the due to first working day of the week the demand […]

by Mrs. Anjum Shahnawaz

Jul 20

Energy

Mari Petroleum discovers gas in Sindh

KARACHI: Mari Petroleum Company Limited (MPCL) on Monday announced discovery of gas from its exploratory well Hilal-1, drilled in Mari D&P Lease Area, located in Daharki, District Ghotki, Sindh. Hilal-1 was spud-in on April 21, 2020 and drilled down to the depth of 1,202m into Sui Main Limestone(SML). The well was drilled with the objective […]

by Mrs. Anjum Shahnawaz

Pakistan’s oil, gas import bill plunges by 28 percent in FY20

Jul 20

Energy

Pakistan’s oil, gas import bill plunges by 28 percent in FY20

ISLAMABAD: Country’s import of oil and gas fell sharply by 28 percent during fiscal year 2019/2020 owing to significant decline in international prices. The import of petroleum group has decline to $10.42 billion during fiscal year 2019/2020 as compared with $14.44 billion in the preceding fiscal year, according to data released by Pakistan Bureau of […]

by Mrs. Anjum Shahnawaz