With the latest weekly surge of $29 million, Pakistan's foreign exchange reserves, held by the State Bank of Pakistan (SBP), have cumulatively risen $2.19 billion in the past four months, reaching a more than 31-month high at $11.29 billion by November 15, 2024. The spike in foreign currency deposits suggested that the supply of US dollars remained higher, which helped the local currency to sta
Fertiliser drove optimism at the Pakistan Stock Exchange (PSX) on Thursday as shares surged more than 1,700 points, crossing the 97,000 barrier for the first time after a bearish spell the day before. The benchmark KSE-100 index climbed 1499.74 points, 1.57 per cent, to stand at 97,046.19 from the previous close of 95,546.45 points at 1:24pm. Finally, the index closed at 97,328.39 points, up by
IT has now become a routine question. Every TV anchor and people I meet in any gathering all want to know: is it true that the economy is ‘improving’? The short, and best, answer here is ‘yes and no’. Yes, because the deficits that plagued it have been plugged. No, because growth remains a far-off dream. The proper term to use is ‘the economy is stabilising’, but it is not yet, and will not be
Planning Minister Ahsan Iqbal emphasised the need for political stability and policy continuity to promote export-led growth, aiming to make Pakistan a competitive economy. Speaking at a seminar on the National Productivity, Quality and Innovation (PQI), the minister said the efforts to revive the national economy started in 2022 were now bearing fruit. “Today, the stock market is rising, ex
oreign investments in treasury bills (T-bills) sharply fell as outflows were four times higher than the inflows in the first week of November. Data released by the State Bank of Pakistan (SBP) on Thursday showed that foreign investors had lost their interest in domestic bonds as withdrawals surged to $46 million against an inflow of $10.5m during the first week of this month. The government