The stock market staged a robust rally ahead of Monday’s anticipated interest rate cut, helping the benchmark KSE 100 index snap its losing streak triggered by growing political noise last week. Contrary to last week’s trend, Topline Securities Ltd noted in its market report that equities initiated the week on a bullish note ahead of the State Bank of Pakistan’s Monetary Policy Committee meetin
During the last fiscal year that ended on June 30, Pakistan’s exports (fob value) increased to $31.1 billion whereas imports consumed $53.2bn, leaving a trade deficit of $22.1bn, according to the latest balance of payments statement. Although this volume of deficit is lower compared to the deficit of $24.8bn recorded a year earlier, the country’s precarious external finance situation requires f
The sense of alienation and resentment among regular working families in Pakistan has deepened due to unjust treatment by employers and the government. Higher tax deductions from already low salaries have exacerbated the situation. In August, they will receive their first salary post-Budget 2024. Their bitterness is not misplaced, as new evidence confirms how the challenging job market and the
After the National Electric Power Regulatory Authority (Nepra) tariff determination for FY25, the issue of capacity payments and independent power projects (IPPs) profits has re-emerged. The per-unit capacity payments have increased from Rs16.22 per kWh in FY24 to Rs17.31 per kWh in FY25. Social media alleged that IPPs are making enormous profits, so their power purchase agreements (PPA) must b
Global credit rating agency Fitch on Monday upgraded Pakistan’s long-term foreign-currency issuer default rating (IDR) to CCC+ from CCC on the back of the country’s deal with the International Monetary Fund (IMF), a statement from the agency confirmed. According to Fitch, a CCC rating is a speculative or junk grade indicating the issuer has a high risk of defaulting on its debt obligations.