December 6, 2022
Business

Pakistan’s Cotton Production Continues to Fall Dramatically

According to the most recent biweekly data, which the Pakistan Cotton Ginner’s Association (PCGA) issued on Monday, Pakistan’s cotton production fell by more than 40% year over year (YoY). As of December 1, 2022, Pakistan received 4.281 million bales of cotton production overall, down from 7.168 million bales at the same period in the previous […]

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Business

Ogra raises the cost of LPG by Rs12 per kg

ISLAMABAD: The Oil and Gas Regulatory Authority announced a 12-rupee rise in the price of LPG on Thursday. Irfan Khokhar, the chairman of the LPG Association, stated that the regulator had increased the cost of a home cylinder by Rs139 to Rs2,548 while the cost of a commercial cylinder had grown by Rs535, and would […]

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Business

CDS for Pakistan falls to 71%

KARACHI: According to statistics supplied by a brokerage business, Pakistan’s  benchmark five-year CDS fell a staggering 5,224 basis points to 71.64% on November 22. Arif Habib Limited computed these numbers (AHL). Over the course of the weekend, the cost of covering exposure to Pakistan’s five-year sovereign debt increased by 1,224 basis points, reaching its highest-ever […]

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Business

93,300 cusecs of water are released by IRSA

ISLAMABAD: On Friday, the Indus River System Authority (IRSA), with an input of 62,500 cusecs, discharged 93,300 cusecs of water from various rim stations. IRSA data showed that the River Indus at Tarbela Dam had a water level of 1518.01 feet, 120.01 feet above its dead level of 1,398 feet. The dam’s water input and […]

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Business

Gas supply to industries in Karachi is turned off by Sui Gas Company

Karachi’s gas issue appears to have gotten worse when the Sui Southern Gas Company Limited (SSGC) stopped supplying gas to various industries in the city.According to a statement from the gas company, “it has been decided to suspend gas supply to all general industries from November 15 to February 28, 2023.” This is in accordance […]

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Business

PKR is losing ground to the US Dollar in interbank

KARACHI: On the opening day of the week’s activity, the Pakistani rupee weakened against the US dollar and saw a new decline. Details show that the rupee fell by 11 paisas versus the dollar, which currently trades for roughly Rs217.65. The Pakistan Stock Exchange, on the other hand, experienced a drop. The KSE-100 index reached […]

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Business

Between July and October 2022, there was record-breaking drop in car sales

Despite increasing month over month in October, car sales fell 47% between July and October 2022, from 74,952 to 39,700, as a result of inflation, limits on auto financing, and high interest rates.Interestingly, the number of cars sold increased from 9,213 in September to 11,129 in October, which is still much behind the 17,413 sales […]

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Business

Interim CEO of Mitchell’s Fruits Farm has been appointed Najam Sethi

The Mitchell’s Fruit Farm Limited has appointed renowned journalist Najam Sethi as interim CEO. According to the stock filing, he will succeed Naila Bhatti, who left the company last month after two years of service. Since the beginning of 2020, Sethi has been the company’s chairman of the board of directors. He resigned from his […]

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Business

Despite the Iqbal Day holiday, FBR is open

The Federal Board of Revenue (FBR) Operations Wing Inland Revenue was open on Wednesday to monitor the IR revenue collection across Pakistan despite November 9 being a national holiday.Except for the FBR IR Operations Wing, which is led by Amjad Zubair Tiwana, the other parts of the FBR were closed on Wednesday. The room where […]

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Business

The rupee keeps winning versus the dollar

In the interbank market on Tuesday, the Pakistani rupee achieved a strong comeback versus the US dollar, leading to gains on the second working day of the week. Details indicate that as compared to the dollar, which was trading at roughly Rs220.5, the local currency increased by 39 paisa. Data from Pakistan’s central bank show […]

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