Pakistan’s stock market has seen a significant decline in the fourth day of the business week, with the Points Index falling by 3,500 rupees. The benchmark 100 Index has closed at 1,52,011 points, down from its previous close of 1,53,008 points. The market capitalization has dropped to 16,188.3 billion rupees, down from 32,332 billion rupees in the previous market capitalization.
The market has witnessed a significant increase in the prices of liquefied petroleum gas (LPG), with a kilogram costing over 200 rupees more than the government’s subsidized rate. The prices of LPG have reached a record high of 530 rupees per kilogram in various districts.
The Vice Chairman of the All Pakistan Petroleum Pump Association, Noman Butt, has expressed concerns over the increase in petroleum product prices. The Federal Bureau of Statistics has released a weekly report on inflation, which has shown a significant increase in prices.
The prices of gold have also increased in the country’s bazaars, with a significant rise in the prices of diesel and other petroleum products. The Chairman of the Pakistan Public Transport Owners Association has demanded that the government roll back the increase in diesel prices.
The State Bank of Pakistan has reported an 8 percent decline in exports during the period of July to March. The bank has also announced a significant increase in interest rates to control inflation.
The global economic situation is also affecting Pakistan’s economy, with the Strait of Hormuz being closed due to the ongoing conflict in the Middle East. The Economist has reported that the countries most affected by the crisis will be those that rely heavily on oil imports.
In a separate development, a high-level meeting was held at the Karachi Port to discuss the issue of old containers. The meeting was chaired by the Federal Minister for Maritime Affairs, Jamshed Iqbal Cheema.
Meanwhile, the Iranian nuclear power plant was targeted by American and Israeli projectiles, and Russia’s state-owned nuclear company has removed its staff from the plant. The writer has expressed that Pakistan has maintained relations with China, and American President Trump prefers a Pakistani field marshal to act as a mediator, while Indian Prime Minister Narendra Modi faces a diplomatic defeat.
According to reports, Hamida Sulemani and her daughter have been arrested after their Green Card was revoked. Iranian Revolutionary Guards have claimed to have successfully targeted an Israeli warship with a drone.
The commander of the Gerald Ford has stated that the Yemini brave mujahideen and steadfast people are afraid to pass through the Bab-el-Mandeb Strait.
