The important resistance level of 48,000 level could not be breached. AFP/File
KARACHI: The stock market remained lifeless for all the outgoing week with the KE-100 index putting up a volatile activity and finally closing with a nominal gain of 271 points, or 0.6 per cent, at 47,834.
The important resistance level of 48,000 level could not be breached. The week was full of uncertainties that drove away investors resulting in low participation.
On top of the list was the rising Covid cases with national positivity ratio up by almost 5pc that prompted the Sindh government to put in place some restrictive measures. Investors stayed to sidelines amid mounting uncertainties in Afghanistan and the rising political heat in the wake of upcoming elections in Azad Kashmir. Investors were disinclined to enter the market due to long Eid holidays ahead; the rising value of the dollar against the rupee and the uptick in international prices of oil and coal; the latter likely to impact cycli
The overall output of Large-Scale Manufacturing Industries (LSMI) increased by 14.57pc in July-May 2020-21 compared to 11MFY20. AFP/File
ISLAMABAD: The Large-Scale Manufacturing (LSM) continued its growth momentum in the fourth consecutive month as big industrial sectors’ output rose year-on-year by 36.84 per cent in May, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday.
The overall output of Large-Scale Manufacturing Industries (LSMI) increased by 14.57pc in July-May 2020-21 compared to 11MFY20. However, on a month-on-month basis the industrial output shrank 3.93pc.
The LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC) and the Ministry of Industries showed that the OCAC recorded month-on-month decline of 8.32pc in May against previous month, and 4.15pc growth year-on-year in May against May 2020.
According to the data of Sensitive Price Index (SPI), sugar prices soared to Rs98-110 per kg in major cities of Pakistan in FY21. Reuters/File
KARACHI: Despite higher sugar production and heavy imports, consumers paid Rs20-25 more to buy a kilo of the sweetener in 2020-21.
In another development, the wholesale price in Karachi’s Jodia Bazaar rose to Rs100 per kg from Rs92 in the first week of the latest fiscal year, which starts on July 1, forcing the retailers to charge Rs105-110 per kg depending on the area.
According to the data of Sensitive Price Index (SPI), sugar prices soared to Rs98-110 per kg in major cities of Pakistan in FY21 as compared to Rs78-85 in the preceding year.
July 8, 2021
ISLAMABAD: Federal Minister for Industries and Production Khusro Bakhtiar on Wednesday said the government has taken measures to promote the automobile industry by reducing prices of vehicles by up to Rs230,000 and boosting production to 500,000 units by 2025.
Addressing a press conference flanked by Federal Minister for Information and Broadcasting Fawad Chaudhry, he said production would be increased to 300,000 during the current fiscal year and to 500,000 by 2025.
Terming the automobile sector as a potential job creation sector, the minister said that each car produced in the country creates employment opportunities for at least five people. He said incentives have been provided in the Meri Gari Scheme to make small cars financially affordable for the middle class.
Daily Times Car production to go up to 0.5 mn units by 2025
July 8, 2021
Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar on Wednesday said the government has taken measures to promote automobile industry by boosting its production up to 0.5 million units by 2025.
Addressing a press conference flanked by Federal Minister for Information and Broadcasting, Fawad Chaudhry, he said production would be increased to 0.3 million during the current fiscal year and to 0.5 million by 2025. Terming the automobile as a potential job creation sector, the minister said that each car produced in the country created employment opportunities for at least five people.