An International Monetary Fund (IMF) mission and Pakistan have made significant progress towards reaching a staff-level agreement for an extended fund facility (EFF), the global lender said on Friday. Shortly after the statement’s release, the Pakistan Stock Exchange (PSX) gained 556.5 points, to stand at 75,670.97 points at 9:41am from the previous close of 75,114.47. The IMF has opened dis
After posting modest gains overnight, Pakistani shares on Wednesday faltered below the 75,000 level on late selling as investors reacted to a downturn in dollar inflows, which depicted a weak economic outlook. Ahsan Mehanti of Arif Habib Corporation said the National Accounts Committee’s projection of a subdued economic growth of 2.38pc amid average 26pc inflation for outgoing FY24, a 6pc decl
IN its latest State of the Economy report, the State Bank has an interesting chapter on inflation dynamics in Pakistan that is worth a close read. It is an ambitious effort, probably the most ambitious that I have seen so far, to study the determinants of inflation in Pakistan and try to discern the relative weight that each of the factors studied has in driving inflation. But not all ambitions
Pakistan would have to complete a set of prior actions — mostly through binding parliamentary approvals and legislation — within the next 40 days in order to reach a formal staff level agreement (SLA) with the International Monetary Fund (IMF) for its next bailout programme, as a fortnight-long dialogue winds down. Informed sources said Pakistani authorities and an IMF staff mission, led by Na
The government on Wednesday raised Rs96.88 billion through the auction of Pakistan Investment Bonds (PIBs) at slightly reduced cut-off yields. The cut-off yield for three-year bonds was reduced by just one basis point to 16.64 per cent, for five-year PIBs by 3bps to 15.45pc and for 10-year bonds by 5bps to 14.29pc. The government borrowing through PIBs was well below the target of Rs190bn.