An arm of the Special Investment Facilitation Council (SIFC) has given directive to seek approval of the International Monetary Fund (IMF) for the settlement of energy sector circular debt of Rs1.27 trillion amid the Ministry of Finance’s refusal to provide Rs745 billion for cash injection in the short term. The net impact on budget of the Rs1.27 trillion circular debt plan will come to Rs902 b
Bears returned to the trading floor of the Pakistan Stock Exchange (PSX) on Thursday as shares traded in the red and lost more than 500 points. According to the PSX website, the KSE-100 index closed at 64,298 points, down 524.43 or 0.81 per cent, from the previous close of 64,822.43. The index had previously maintained an upward trajectory on expectations of measures aimed at addressing econ
PEOPLE often ask which political party has the best track record of managing the economy and producing the best results. It is a tricky question to give a straightforward answer to, but if pressed, the most obvious reply would be ‘none of the above’. The reason is that all major parties have had their stint in power and yet Pakistan continues to be the most reliable client of the IMF, the insti
China has said it is ready to work with Pakistan to upgrade the China-Pakistan Economic Corridor (CPEC) and accelerate the building of an even closer China-Pakistan community with a shared future in the new era. Separately, caretaker Prime Minister Anwaarul Haq Kakar said after having achieved the first phase of CPEC, Pakistan is benefiting from its early harvest projects while remaining engag
The profit-after-tax (PAT) of Lucky Core Industries (LCI) surged by over 127 per cent to Rs2.5 billion for the three months ending Dec 31, 2023 from Rs1.1bn in the same quarter last year. The net turnover rose to Rs31bn from Rs25bn in the same period last fiscal year. The sales and PAT in the first half of FY24 stood at Rs60bn and Rs5bn versus Rs49.5bn and Rs2.76bn, up by 21pc and 54pc, respect