The amount of outstanding auto loans declined for the 17th consecutive month to Rs257 billion at the end of November from Rs264bn in October, depicting a fall of 2.6 per cent on a month-on-month basis and 24.4pc on a year-on-year basis. Data released by the State Bank of Pakistan (SBP) revealed that the total drop in the last 17 months was Rs111bn. At the end of June 2022, the auto financing st
The government borrowed seven times more from banks during the first five months of the current fiscal year while the budgetary borrowing is reaching close to the amount it borrowed during the entire FY23. The latest data issued by the State Bank of Pakistan (SBP) on Tuesday showed that the government borrowed Rs3.585 trillion from July 1 to Dec 8 FY24 against Rs516bn in the same period last ye
Despite a record 83 per cent power generation from cheaper domestic fuels, the Central Power Purchasing Agency (CPPA) on Tuesday sought a massive Rs4.66 per unit additional fuel cost adjustment (FCA) for ex-Wapda distribution companies (Discos) — almost 100pc higher than target — to generate another Rs34 billion in January 2024. This increase in FCA is on top of about 26pc increase in annua
After a week of uncertainty, bearish sentiment returned to the trading floor of the Pakistan Stock Exchange (PSX) on Monday as shares opened the week in the red. According to the PSX website, the KSE-100 index declined by 925.35 points to close at 65,204.67 points, down 1.4 per cent from the previous close of 66,130.02. Top active stocks included Worldcall Telecom Limited, K-Electric Limited
Troubled oil marketing company Hascol Petroleum Ltd said on Monday that Millat Energy Group is interested in buying 76 per cent of its “fully diluted share capital” through a subscription of new shares. Fully diluted share capital reflects the total number of shares a company would have if all outstanding options and other rights to subscribe for — or convert into — shares were exercised.