US
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