The European Central Bank cut interest rates for the fourth time this year on Thursday and kept the door open to more easing as the euro zone economy is dragged down by political instability at home and the threat of a fresh US trade war. The ECB has been easing policy quickly for months as inflation worries have largely evaporated. The debate is now shifting to whether it is cutting rates fast
The government has yet to appoint any financial adviser for three power distribution companies (Discos) and two generation companies (Gencos) selected for the first round of privatisation. The Power Division disclosed this before the Senate Standing Committee on Power which expressed displeasure over the absence of Power Minister Awais Leghari and Secretary Power Dr Fakhre Alam despite prior co
Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Jawed Bilwani has urged the State Bank of Pakistan (SBP) to reduce the policy rate by 400 basis points in the upcoming Monetary Policy Committee (MPC) meeting as inflation witnessed sharp deceleration to 4.86 per cent in November. Drastic policy rate cuts would align real interest rates closer to sustainable levels and make borr
The federal government on Thursday asked all the four provincial governments to clear their electricity bills amounting to Rs150 billion in order to avoid power cuts and financial loss to the national economy. In separate letters, Power Minister Awais Ahmad Khan Leghari sought personal intervention of the four chief ministers to help clear dues outstanding against their departments. He warne
Following a brief pause, the Pakistan Stock Exchange (PSX) on Wednesday saw a resurgence in investor interest as the KSE-100 index rebounded sharply and rose over 1,900 points to a new record high. Market optimism was fuelled by expectations of a policy rate reduction in the monetary policy committee meeting on December 16, after a significant drop in inflation to 4.9%, its lowest in over six y