After scaling an all-time high a day earlier supported by a successful SCO summit, the Pakistan Stock Exchange (PSX) on Thursday came under renewed selling pressure stemming from mounting political tensions in the backdrop of the proposed 26th constitutional amendment, pulling the KSE 100 index below 86,000 on aggressive foreign selling. Ahsan Mehanti of Arif Habib Corporation said stocks close
As per the Fund’s traditional approach, the programme is grounded in a basic accounting and meaningless framework that relies on a cash-based system to achieve a magical number for primary surplus (or deficit), all the while ignoring the structural problems of the country. At best, lip service is paid to reforms. Despite all the celebrations, let us not forget that we are in a low-investment, l
Domestic gold rates for 10 grams and one tola reached an all-time high of Rs237,654 and Rs277,200, respectively, on Wednesday, increasing by Rs1,886 and Rs2,200, compared to Tuesday’s rates. According to the All Sindh Saraf and Jewellers Association, the local rates surged due to a $22 per ounce rise in world gold prices to $2,675. The previous all-time high was recorded on Sept 26, when the
Prime Minister Shehbaz Sharif and his Russian counterpart Mikhail Mishustin on Wednesday agreed to pursue robust dialogue and cooperation in areas of trade, industry, energy, connectivity, science, technology and education. The agreement was reached as the two leaders had a meeting at the Prime Minister’s House, at the margins of the 23rd SCO summit in Islamabad. The two prime ministers d
Structural impediments are challenges to sustaining macroeconomic stability, the State Bank of Pakistan (SBP)’s annual report on the state of the economy said on Thursday. “Falling investment … unfavourable business environment, lack of research and development, and low productivity, alongside climate change risks continue to constrain the economy’s growth potential,” the SBP said in a statemen