Saudi Arabia has extended a $3 billion deposit placed with Pakistan for another year to continue bolstering the economy, the State Bank of Pakistan announced in a press release on Thursday. In November 2021, the State Bank signed an agreement with the Saudi Fund for Development (SFD) to receive $3bn, which would be placed in the SBP’s account to improve its foreign exchange reserves. The agr
The Supreme Court has withdrawn its earlier order barring the government from privatising Pakistan International Airline (PIA) without its permission, the Associated Press of Pakistan reported. The six-member Constitutional Bench on Thursday overturned the six-year-old order by then chief justice Saqib Nisar in a suo motu notice over the privatisation of national entities. In a brief hearing
The benchmark KSE 100 index scaled new heights on Wednesday by breaching yet another psychological barrier of 105,000 points despite early fluctuations. Topline Securities Ltd noted that the market maintained its bullish momentum, reaching an intraday high of 105,474 points. Persistent buying by local institutions and high trading volumes reflected strong investor confidence, fuelled by expecta
AN age-old question in Pakistan’s economic management is lurking behind the scenes one more time. How do we transition from economic stabilisation to economic growth? There is by now little doubt that stability has finally returned to Pakistan’s economy. But when and how we get to the stage where growth can resume remains the largest question hanging over the economy. It is not difficult to
Overall cement sales increased by 5.58 per cent to 4.146 million tonnes in November from 3.927m tonnes in the corresponding period last year. As per data of All Pakistan Cement Manufacturers Association (APCMA), local cement despatches were up 2.4pc to 3.342m tonnes compared to 3.264m tonnes in November 2023. Exports also increased by 21.27pc to 803,258 tonnes from 662,374 tonnes. However