The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $84 million to $11.258 billion during the week ended on Nov 8, announced the central bank on Thursday. Reports appeared in media suggest the government is still unable to rollover the loans from China, Saudi Arabia and the UAE. The threat of repayment of total $26.2bn in FY25 could not be addressed, so far. T
The Securities and Exchange Commission of Pakistan (SECP) has notified the Securities Managers (Licensing and Operations) Regulations 2024, aimed at facilitating investment advisory services in the securities market. The new regulatory framework allows eligible securities brokers to offer portfolio management services upon obtaining a securities manager licence from the SECP. Prior to these
The government is set to amend tax law through a presidential ordinance to make it mandatory for all importers and manufacturers to sell their products to known customers to bring more traders into the formal tax regime. The proposed amendments relate to the ‘Know Your Customer’ (KYC) digital invoice system, designed to encourage traders to register as regular taxpayers or benefit from the Fede
The International Monetary Fund (IMF) and the government appeared to be in a fix over energy sector issues amid rising fears of a potential default-like situation in some blue-chip public sector entities, raising question marks over the quality and design of the $7 billion loan programme signed only two months ago. The visiting IMF team, led by mission chief Nathan Porter, also reportedly expr
As an unplanned economic assessment by the visiting International Monetary Fund (IMF) team entered its second day, the stock market on Tuesday snapped its record-breaking streak amid aggressive profit-taking, forcing the benchmark KSE 100 index to close in the red. Initially, the benchmark KSE-100 index added 223.29 points to 93,871.62. However, it could not hold on to the early gains as some i