Pakistan witnessed 87 per cent foreign investment withdrawal from treasury bills (T-bills) due to a sharp reduction in profit rates in almost seven months. The returns on T-bills halved during the first seven months of the current fiscal year. These large outflows occurred despite a stable exchange rate for over a year. Financial market experts said many other factors could contribute to the
GSMA has criticised Pakistan’s spectrum policy, warning that increasing the cost of spectrum is unsustainable and poses a significant threat to the future development of mobile services. GSMA, a global organisation representing mobile operators and entities across the mobile ecosystem and adjacent industries, has issued a paper emphasising that mobile network infrastructure is vital for Pakista
The European Union has warned Pakistan not to take its GSP+ status for granted. Olof Skoog, the EU Special Representative for Human Rights who is currently on a week-long visit to Pakistan, has also urged the government not to use military courts to pursue cases against citizens, and opposed recent moves to restrict freedom of expression. Talking to Dawn, he said he had conveyed these messa
High-speed diesel (HSD), petrol and kerosene are estimated to increase by up to Rs6 per litre on Friday for the next fortnight owing to higher international prices. Informed sources said the ex-depot petrol price was estimated to go up by Rs2-3 per litre depending on the final calculation on Jan 31. Kerosene and diesel prices are estimated to rise by about Rs6 per litre. The estimates are ba
Pakistan Stock Exchange (PSX) on Tuesday came under pressure and registered hefty losses as the benchmark KSE-100 index dropped nearly 1,500 points, extending its downturn from the previous day. Analysts attributed the bearish trend to the State Bank of Pakistan's (SBP) cautious policy rate cut, high core inflation and mounting economic risks. Adding to the negative sentiment included poor f