Senate body for climate financing reforms
The meeting, that met with Senator Sherry Rehman, in the chair focused on bridging the staggering $340 billion funding gap required for climate resilience, advancing the Electric Vehicle (EV) Policy, and addressing bureaucratic hurdles in accessing climate funds.
Finance Minister Muhammad Aurangzeb emphasised the need for a structured approach, incorporating key enablers such as the National Adaptation Plan and National Climate Finance Strategy.
"Green technology is pivotal for sustainability, but clear definitions and parameters are essential for effective monitoring and reporting," he said.
He also noted ongoing discussions with the IMF under the Extended Fund Facility, with around $1 billion expected.
However, bureaucratic inefficiencies continue to hinder access to climate funds, underscoring the need for streamlined processes.
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Express Tribune
2 days ago
- Express Tribune
PSX ends flat below 146.5k on profit-taking
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Business Recorder
2 days ago
- Business Recorder
Bilateral trade, investment: Pakistan, US vow to boost cooperation
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Business Recorder
2 days ago
- Business Recorder
PSX ends flat
KARACHI: The Pakistan Stock Exchange (PSX) closed almost unchanged on Friday, as a lack of fresh triggers and persistent macroeconomic concerns kept investors sidelined. The benchmark KSE-100 Index ended the day at 146,491.63 points, down 37.67 points or 0.03 percent from the previous close of 146,529.31. The index fluctuated between an intraday high of 147,534.41 points and a low of 146,269.59 points, eventually settling marginally lower. BRIndex100 closed at 14,962.21 points, down 31.99 points or 0.21 percent, with total turnover of 364.59 million shares. BRIndex30 shed 312.23 points, or 0.74 percent, to close at 42,078.55 points, on a total volume of 147.17 million shares. Profit-taking in oil and energy stocks offset selective buying in banking and technology counters. 'Stocks closed flat amid concerns for SOEs' losses and the IMF's next review for release of the third tranche under the EFF. Concerns for unmet IMF conditions for provincial tax collection, and falling global crude oil prices played a catalyst role in the negative close at PSX,' commented Ahsan Mehanti, Director at Arif Habib Corporation. Market capitalization slipped slightly to Rs 17.469 trillion, compared to Rs 17.491 trillion on Wednesday. Overall trading volumes also moderated, with the ready market turnover at 473.6 million shares against 647.09 million shares in the previous session. The traded value of shares fell to Rs 32.88 billion from Rs 40.89 billion in the prior session. Aisha Steel Mills led the volume chart with over 30 million shares, closing marginally higher at Rs 13.47. Media Times Ltd followed with 21.7 million shares, ending the day at Rs 3.62. Air Link Communication ranked third, closing at Rs 168.04 with 19.88 million shares traded. Hoechst Pakistan Limited and Unilever Pakistan Foods Limited were the top gainers of the day, with share prices increasing by Rs 280.91 and Rs 41.00 to close at Rs 3,506.71 and Rs 32,000.00, respectively. On the flip side, PIA Holding Company LimitedB suffered the steepest decline, losing Rs 856.90 to close at Rs 27,814.97, while Nestle Pakistan Limited fell by Rs 103.97 to Rs 8,654.09. Out of 479 active scrips, 219 closed in the red, 226 ended higher, and 34 remained unchanged, indicating a cautious and range-bound trading environment. The BR Automobile Assembler Index finished at 23,880.46 points, gaining 216.46 points or 0.91 percent, with 6.21 million shares traded. The BR Cement Index advanced to 11,692.16 points, up 85.86 points or 0.74 percent, on a turnover of 25.44 million shares. In contrast, the BR Commercial Banks Index slipped 65.44 points, or 0.15 percent, to close at 43,619.93, on 40.28 million shares. The BR Power Generation and Distribution Index fell sharply by 240.95 points, or 1.06 percent, to settle at 22,405.13, with 16.77 million shares traded. The BR Oil and Gas Index also came under pressure, losing 189.78 points, or 1.45 percent, to close at 12,871.27, with a turnover of 24.58 million shares. Meanwhile, the BR Technology & Communication Index inched up by 8.25 points, or 0.25 percent, closing at 3,340.99, on an active volume of 90.80 million shares. According to JS Global's Muhammad Hasan Athar, the index traded within a tight range throughout the session, with activity remaining largely range-bound on the back of upbeat corporate earnings. He noted that investor sentiment was supported by optimism over Pakistan's improving macroeconomic indicators and recent credit rating upgrades. Despite intraday volatility, he said, the market held firm, reflecting growing confidence in fiscal reforms and the broader economic recovery. Copyright Business Recorder, 2025
