The firm last week decided to terminate its offer to acquire up to 66.4 per cent of K-Electric Ltd due to changes in Pakistan’s business environment. It added that since the planning of the “major asset purchase”, the company had strictly adhered to relevant laws, regulations, and normative documents, actively promoting the various tasks involved in this major asset purchase. “Given that the co
The State Bank of Pakistan (SBP) maintained its policy rate steady at 11 per cent on Monday for a third straight meeting as policymakers weighed inflation risks from flood-hit crops against a fragile economic recovery. After slashing the interest rate by 1,000 basis points (bps) from 22pc since June 2024 in seven intervals, the central bank has maintained it at 11pc since May. However, the busi
The stock market remained largely range-bound during the outgoing week as investors balanced encouraging macroeconomic indicators against concerns over monetary policy and flood-related disruptions. Analysts said profit-taking dominated amid muted institutional flows, leaving the KSE-100 index nearly flat. Topline Securities reported that the benchmark index inched up 0.11 per cent week-on-week
As Pakistan grapples with devastating floods, a senior International Monetary Fund official confirmed an upcoming mission will evaluate if the country’s financial and emergency plans are adequate to handle the crisis, shortly after the finance minister signalled talks with the lender for relief. An IMF team is expected in Pakistan by the end of the month for a review mission, Federal Minister
The Faceless Customs Assessment (FCA) system, inaugurated by the prime minister last year in Karachi to combat corruption, has incurred a revenue loss of about Rs100 billion in three months. This was revealed in a detailed analysis by the Pakistan Customs Audit — an internal arrangement of the Federal Board of Revenue — spanning December 16, 2024 to March 15, 2025. “The scrutiny of 13,140 go