Conceding almost a record five per cent interest rate on $7bn loan from the International Monetary Fund (IMF), the government said on Wednesday the external financing gap had been met for the current year, leaving no urgency to access international financial markets until Pakistan’s credit rating improved. Testifying before the Senate Standing Committee, Finance Minister Muhammad Aurangzeb said
Pakistan Stock Exchange (PSX) on Tuesday endured a volatile trading session as the KSE-100 index lost nearly 1,100 points in a bearish activity driven by global equity sell-offs, rising geopolitical tensions in the Middle East and disappointing domestic remittances data. Analysts also attributed the market downturn to concerns over a potential shortfall in the government's tax collection, weak
Oil prices rose on Tuesday as markets looked to rising demand in China, the world's largest buyer, and possible tight supply in Europe this coming winter and away from the overthrow of Syria's president. Brent crude futures were up 51 cents, or 0.71%, to $72.64 a barrel at 1643 GMT. US WTI was up 59 cents, or 0.86%, at $68.97. Both benchmarks had risen more than 1% on Monday. Support came fr
Gold prices rose for the second consecutive day on Tuesday, which came in line with the international market trend. In the local market, the price of gold per tola increased Rs1,000 to Rs277,400. Similarly, the price of 10-gram gold went up Rs858 and settled at Rs237,826, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). On Monday, gold prices had
Passenger car sales went up by 49.7% to 38,534 units during the first five months of the current fiscal year compared to the same period last year because of a host of reasons, including various schemes being offered by auto companies, lower interest rates, the upcoming new year, and others. Moreover, the data of car sales shows a slight month-on-month fall but a year-on-year growth, while givi