Pakistan anticipates a substantial decrease in fuel prices on December 15, with projections hinting at a Rs. 15/liter drop for High-Speed Diesel and Rs. 13/liter for MS Petrol, influenced by a favorable trend in global fuel prices. If international stability persists, local petrol and diesel rates may reach around Rs. 268-269/liter and Rs. 274-275/liter, respectively.
Easypaisa and Telenor Pakistan have joined forces to elevate digital financial services in Pakistan, focusing on cutting-edge solutions for widespread adoption. This strategic alliance, marked by a commitment to technological empowerment, aims to reshape the country’s digital payments landscape, fostering innovation and financial inclusion for a digitally empowered society.
Mari Petroleum has triumphed in testing its third horizontal well in the Mari Gas Field, producing 17 MMSCFD. The project aims to enhance production sustainability and reserve recovery, with plans for further wells underway.
In September 2022, Haval and SAZGAR Engineering partnered to introduce Pakistan’s inaugural locally assembled hybrid vehicle, the Haval H6 HEV, now the country’s most sought-after SUV, celebrated for its powerful features and showcased in a cinematic-quality TV commercial.
Sindh government, with Asian Development Bank support, is set to introduce 200 electric buses to Bus Rapid Transport feeder routes, targeting a daily benefit for 50,000 commuters and a long-term boost to environmental sustainability and cost efficiency through solar power integration.
Pakistan’s stock market reaches unprecedented heights, with the KSE-100 index surging 2.33%, driven by positive economic indicators and an imminent IMF loan tranche release. Analysts anticipate a boost in overall economic conditions.
The Pakistan Stock Exchange (PSX) reached an unprecedented high, surging past 65,000 points within hours, with the KSE-100 index peaking at 65,872 points amidst a bullish market trend and significant trading activity. Key players included K-Electric Limited, Kohinoor Spinning Mills Limited, and Oil and Al Shaheer Corporation Limited.
Ghani Chemical Industries (PSX: GCIL) progresses on Pakistan’s largest Air Separation Unit plant, set to operate by Q1 2024, alongside a cost-saving Calcium Carbide project at Hattar Special Economic Zone. The company aims to enhance local industry and contribute to foreign exchange earnings.
The Pakistan Raises Revenue project, valued at $400 million, has made moderately satisfactory progress, evidenced by a reduction in customs violations and significant strides in tax reforms and digital transformation, paving the way for enhanced revenue generation. Ongoing efforts, such as consultant hiring and future procurements, aim to further strengthen compliance facilitation.
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