Business

KSE-100 index soars over 1,100 points with more support coming from rising global markets

Central bank gives no reason for the drop

Top oil producer Saudi Arabia dismisses calls for additional OPEC+ supply

Discussed prospects of investment, expanding industry, logistics, trade, and businesses in northwestern province

IMF, however, is sceptical about sustainability of tax revenues

Closes at new low of Rs171.13 to a dollar due to speculation over IMF negotiations

Emphasises gas subsidy should be linked with value addition by textile mills

Surge to come on back of rising raw material costs, higher freight charges

Govt withdrew the incentive in March 2021 under IMF loan programme

Repayment will temporarily hit largely debt-based foreign exchange reserves