Trading in the privately placed Rs8 billion bond of the Bank of Punjab Ltd (BoP) will commence on the Pakistan Stock Exchange (PSX) on Friday, Dec 23. Locally known as a term finance certificate (TFC), the debt instrument will contribute towards the bank’s Additional Tier 1 Capital for the capital adequacy ratio (CAR). This category of capital consists of instruments that aren’t equity but can
China assured Pakistan on Wednesday that it is ready to help Islamabad in every possible way following its request for about $8.75 billion in an additional financial package, including the rollover of debt, bank deposits and currency swaps. Chinese Ambassador in Islamabad Nong Rong called on Finance Minister Ishaq Dar on Wednesday and “assured continuous support of the Chinese government to Pak
At a time when billions of rupees in revenue from new tax measures are stuck in litigation, Finance Minister Ishaq Dar on Wednesday asked top tax officials to gear up efforts to collect maximum revenue to narrow the gap with International Monetary Fund over annual tax collection projection. Mr Dar held a meeting on revenue performance at FBR headquarters. Chairman Asim Ahmed briefed the mini
The Economic Coordination Committee (ECC) of the Cabinet was informed on Wednesday that receivables of the national fuel supplier – Pakistan State Oil (PSO) had crossed Rs612 billion and it was struggling to manage remittances to its foreign suppliers. The meeting of the ECC presided over by Finance Minister Ishaq Dar, however, did not immediately approve Rs17bn urgently demanded by the PSO to
Oil prices climbed for a fourth straight day on Thursday with United States crude, heating oil and jet fuel stocks growing tighter just as a wintry blast hits the US and travel is set to soar for its holiday season. Brent crude futures gained 44 cents, or 0.54 per cent, to $82.64 at 0422 GMT, extending gains of around 2.7pc from the previous session. US West Texas Intermediate (WTI) crude futur