The Ministry of Finance is issuing for the first time a one-year Islamic bond through the Pakistan Stock Exchange (PSX) on Friday to raise Rs30 billion. As opposed to the earlier practice where commercial banks would place bids for the government debt, the new method will allow the general public to participate directly in the bond auctions. This is expected to bring the interest or profit r
Meat exporters seek soft loans and subsidies, foot-and-mouth disease-free zones and restricted animal feed export. In written recommendations submitted to the caretaker chief minister of Punjab, the All-Pakistan Meat Exporters & Processors Association says the government should provide soft loans to the meat industry and land on lease for animal breeding and fattening farms to ensure sustainabl
The country’s leading industrial magnates convened at the inaugural Industrial Advisory Council meeting on Thursday, aiming to overcome obstacles stifling industrial growth and to craft a strategic five-year plan to boost the export sector. Setting an ambitious target, they aim to elevate exports to $100 billion. The prominent industrialists were invited to Islamabad for the first time in a dec
The State Bank’s foreign exchange reserves dropped by $237 million to $7 billion in the week ending Dec 1, the central bank said in a statement on Thursday, as debt servicing on foreign loans continues to eat up SBP’s holdings. The country’s total liquid foreign reserves stood at $12.1bn, including $5.09bn held by commercial banks, the central bank said. The SBP has now lost more than $1.7bn si
Reiterating the government’s commitment to providing a conducive environment and streamlining regulations, Caretaker Prime Minister Anwaarul Haq Kakar on Thursday urged the business community to take advantage of the Special Investment Facilitation Council (SIFC). Addressing a ceremony for the distribution of Pakistan Stock Exchange (PSX) Awards to the top 25 companies for 2022, Mr Kakar said t