Bankers and currency dealers have anticipated over $2.5 billion in remittances in April like the preceding month which helped the country to record a current account (C/A) surplus. At the same time, they believe the country could post a C/A surplus for the second month in a row which would reduce pressure on the dwindling foreign exchange reserves held by the State Bank of Pakistan (SBP). “D
Notwithstanding the nearly flat economic growth expected for 2022-23 amid record-high inflation, after-tax income reported by the representative firms of the country’s corporate sector remained at Rs877.6 billion in the first nine months of the current fiscal year, up 8.8 per cent from a year ago. According to data compiled by Arif Habib Ltd, combined earnings rose 12.7pc year-on-year in the la
Bulls maintained a strong grip on the Pakistan Stock Exchange on Thursday, with the benchmark of the representative companies hovering in the green zone throughout the trading session. Topline Securities said the buying momentum could be attributed to the lowering of the political temperature. The remarks by the chief justice about the initiation of a grand dialogue among political parties with
Many countries, including India, have been trying to make in-road in the rising demand for electric vehicles (EVs). Meanwhile, in Pakistan, headlines blare the meteoric rises in car and bike prices due to the high landed cost of imported parts owing to rupee depreciation and low localisation. The issue of localisation is so complex that it is hard to judge it by the value of imported parts or b
Pakistan State Oil Company Ltd reported on Thursday it posted a profit after tax of Rs10.3 billion in the first nine months of 2022-23, down 84 per cent from the comparable period of the preceding fiscal year. On a quarterly basis, its earnings clocked in at Rs13.6bn in January-March after declining 58pc from the same three-month period a year ago amid lower inventory gains, according to Arif H