The State Bank is not considering restructuring bilateral debts, Governor Jameel Ahmed said at a briefing for analysts on Monday after announcement of the monetary policy. “In fact, the State Bank is not even aware about the restructuring of external debt. This means the government has not worked out such plan,” said Tahir Abbas, the head of research at Arif Habib Limited, after attending the m
The Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) on Monday empowered the Karachi Port Trust (KPT) to take over the operations of the Container Terminal (Berths 6 to 9 at East Wharf) when its 21-year agreement expires on June 17 with the existing concessionaire — Pakistan International Container Terminal (PICT). The meeting of the committee presided over by Finance
In a bid to offset the burden shouldered by power consumers due to the line losses of distribution companies (Discos), the government has decided to introduce a ‘budgeted’ subsidy to the tune of Rs151 billion to provide relief to customers across the country, except Karachi. For the port city, however, a Rs315bn package has been prepared that is aimed at making tariffs uniform by providing K-El
Despite the government’s claims of tight fiscal discipline, Finance Minister Ishaq Dar has asked the parliament to give post-facto approval of record Rs2.415 trillion supplementary grants for expenditure overruns and re-appropriation. Budget documents suggest that the parliament would be required to approve about 25pc higher supplementary grants later this month when compared to Rs1.95tr it reg
The net impact of the 2023-24 budget is expected to range between neutral and negative for most listed companies, even though a few sectors like technology, real estate and pharmaceutical may find some cause for celebration. Speaking to Dawn, Ismail Iqbal Securities Head of Equity Research Fahad Rauf said the budget contains few significant events for the stock market based on the information a