The stock exchange will witness up to five listings of real estate investment trusts (REITs) in 2023 from the Arif Habib Group alone, a company official told Dawn on Wednesday. REITs are investment schemes that collect money from investors and deploy it in real estate projects. Ordinary investors can trade REIT units like company shares once they get listed on the stock exchange within three ye
Finance Minister Ishaq Dar assured investors on Wednesday that “there’s no way Pakistan is going to default”, though he agreed that all was not well with the economy. “We’re in a tight position. We don’t have $24bn in foreign exchange reserves that our (last) government left in 2016. But that’s not my fault. It’s the system’s fault,” he told investors at a ceremony to mark the listing of Pakist
Pakistan’s overall development spending dropped 38 per cent to Rs130.64 billion in the first five months (July-November) of the current fiscal year from Rs209.53bn a year ago to create a cushion for rising current expenditures. According to data released by the Ministry of Planning and Development on Wednesday, the massive drop would not only slow down the economy but would take a toll on reven
The outflow of profits and dividends on foreign investment drastically declined during the first five months of the current fiscal year (FY23), reflecting both positive sign for lower repatriation of dollars and negative one for the poor economic growth. The latest data released by the State Bank showed that $128.7 million was paid on foreign investments in Pakistan during July-Nov FY23 compare
The Securities and Exchange Commission of Pakistan (SECP) on Wednesday restricted the digital lending platforms from taking coercive measures for recoveries and barred them from shifting borrowers’ data outside Pakistan. The SECP through circular no. 15 has directed the digital lenders that the borrowers’ data cannot be stored on any cloud infrastructure outside the jurisdiction of Pakistan.