Bulls continued their stampede at the Pakistan Stock Exchange (PSX) as shares rallied more than 900 points on Wednesday, which analysts attributed to improvement in economic indicators. The benchmark KSE-100 index climbed 1,031.13 points, or 1.3 per cent, to stand at 80,522.26 points from the previous close of 79,491.13 points at 3:20pm. Finally, the index closed at 80,461.33, up by 970.20, or
THE International Monetary Fund’s (IMF) executive board is set to meet next week to discuss the approval of a three-year Extended Fund Facility (EFF) for Pakistan ending in the fiscal year 2027-28 — the 24th time the country is going to enter into an agreement with the lender. There seems to be a broad consensus that it is in Pakistan’ s best interests to exit from the IMF programme. The reason
RARELY have I seen a situation like this one. The economy is finding an uneasy and shaky stability; as inflation peaks, the exchange rate looks like it might well stick, the backlog of unpaid dividends is being cleared, interest rates are on a downward trajectory from here on, the current account has returned to surplus, reserves are stable and so on. The list can get as long as one wants. But
The Asian Development Bank (ADB) has announced that it will provide $2 billion in annual assistance to Pakistan over the next three years to support infrastructure development and climate-resilient initiatives. In 2022, massive floods triggered by climate change devastated several parts of Pakistan, killing 1,700 people, washing away swathes of agricultural land, affecting 33 million people, an
The government is considering a proposal to establish a new steel mill in Karachi with Russian cooperation, as both countries have agreed to form working groups to advance the project. In this regard, Deputy Minister of Industry and Trade of Russian Federation Aleksei Gruzdev met Minister for Industries, Production and National Food Security Rana Tanveer Hussain on Wednesday. Mr Tanveer info