The government on Wednesday announced that it had retired about Rs1.9 trillion debt while taking advantage of the unprecedented surge in revenues from petroleum development levy (PDL) and the State Bank of Pakistan’s (SBP) profits driven by the highest interest rate and projected further decline in inflation. In its Monthly Economic Update & Outlook (November 2024), the Ministry of Finance (MoF
In a turbulent session at the Pakistan Stock Exchange (PSX), the KSE-100 index registered its largest-ever single-day drop as it plummeted 3,506 points, or 3.57%, due to rising political instability concerns among investors. Analysts attributed the political instability to the ongoing protests being held by the Pakistan Tehreek-e-Insaf (PTI), compounded by weakening investor sentiment and forei
The Pakistan Stock Exchange (PSX) faced volatility on Tuesday, with the benchmark KSE-100 Index experiencing its largest single-day drop, plummeting by over 3,500 points. The sharp decline came amid growing concerns over the political situation in Islamabad, where the Pakistan Army was called in to prevent escalating protests. The market opened lower, with the KSE-100 Index hitting an intra-
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday highlighted the government's comprehensive policy framework aimed at enhancing tax revenues through improved documentation and financial transparency. While meeting a delegation of the International Accounting Standards Board (IASB), led by its Chairman Dr Andreas, the minister emphasised the importance of standardis
The International Monetary Fund (IMF) bailout package has not yet instilled confidence among Pakistan's foreign creditors, which disbursed only $2.7 billion in loans during the first four months of the current fiscal year, down by more than half, show official statistics. The Ministry of Economic Affairs has released the official disbursement data for the July-October period of fiscal year 2024