Fuelled by a 22pc increase in provincial allocations, the National Economic Council (NEC) on Wednesday approved with consensus a record Rs4.22 trillion national development outlay for the next fiscal year to upgrade growth rate to 4.2pc from 2.7 this year, despite an IMF-decreed 29pc cut in the public sector development programme (PSDP) compared to the current year. The provincial expansionary
The Pakistan Stock Exchange (PSX) snapped its three-session winning streak as investors indulged in profit-taking towards end of the session, dragging the benchmark KSE 100 index in the red zone after scaling an all-time high above 120,000 intraday. Topline Securities Ltd stated that the stock market exhibited volatility, with the index fluctuating within a wide range, primarily influenced by
Under the tight control of the International Monetary Fund (IMF), next year’s federal development programme cuts allocations for almost all sectors, barring a rise in road building schemes and no changes to parliamentarians’ schemes. Despite this, the Annual Planning Coordination Committee (APCC) cleared the national development programme worth a record Rs4.083 trillion, aided by Punjab and Sin
With an improved 4.2 per cent economic growth forecast for next year, the Ministry of Planning and Development cautioned on Monday about the re-emergence of external sector pressure amid easing import control and debt repayments. “The external sector may face pressure, as easing import controls and debt repayments are likely to widen the current account deficit,” said the Ministry of Planning a
The Competition Commission of Pakistan (CCP) on Tuesday imposed fines of Rs375 million on fertiliser companies for “anti-competitive conduct”. “The Competition Commission of Pakistan has taken decisive action against anti-competitive conduct in the fertiliser sector, imposing a penalty of Rs50 million on each of the six major urea manufacturers,” said a press release by the CCP. It added tha