Agriculture, the backbone of Pakistan’s rural economy, has been hit hard in 2022, especially due to the impact of the devastating floods. The other reasons remain the same: incompetence, bad governance and the spectre of ever-increasing inflation.The effect of these factors has raised alarm bells when it comes to predicting the state of the agriculture sector and feeding the people of Pakistan
Stock prices dropped on Wednesday as investors resorted to redemptions on economic uncertainty. Arif Habib Ltd said bearish sentiments gripped the bourse soon after trading began. The slide continued throughout the day, thanks to the rollover week in which futures contracts are either settled or rolled over to the next month. Decent volumes were observed across the board while third-tier compan
Shares at the Pakistan Stock Exchange (PSX) fell sharply for a second day on Wednesday, with analysts citing delays in the completion of the International Monetary Fund’s (IMF) ninth review, the foreign exchange crisis and exchange rate instability. The benchmark KSE-100 index lost 523.48 points, or 1.32 per cent, to close at 39,279.43 points. It reached an intraday low of 775.4 points, or 1.95
The State Bank of Pakistan has eased imports of several essential items required as raw material and some basic needs of the exporters. A circular issued by the SBP on Tuesday stated that the central bank had decided to withdraw its instructions with effect from Jan 2, 2023, paving the way for acceptance of requests for import transactions already submitted to the SBP. Earlier, under circula
Nishat Chunian Limited, one of Pakistan’s largest textile companies, informed investors on Wednesday that it was temporarily shutting off some spindles because of market conditions. In a Pakistan Stock Exchange filing, Nishat Chunian Limited (NCL) stated, “The company has an installed capacity of 219,528 spindles and 2,880 rotors in its spinning division. Company has decided to temporarily clos