Painting a positive overall macroeconomic picture, the caretaker government is now hoping for a downhill journey from the painful inflation rate and a further increase in economic activities over the coming months. “Pakistan’s economy is on a gradual but promising path to recovery. The stride of economic revival initiatives is driving a surge in economic activity,” said the Economic Advisers’ W
The KSE-100 index hit an intraday high of 480 points on Thursday as investors welcomed the announcement of $3 billion Saudi deposit rollover. However, the momentum came to a halt soon as sceptical investors resorted to profit-booking, causing the index to close on a rather flat note, said Topline Securities Ltd. Thursday also marked the last trading session of November in which the KSE-100 i
The Pakistani rupee is expected to end the year on a historic low — as Asia’s worst-performing currency — having shed almost 20 per cent of its value against the US dollar. Even with the authorities clamping down on profiteering, smuggling and banning the imports of ‘luxury goods’, the currency isn’t expected to fare any better next year. Amid all this, one idea that has been gaining traction i
The foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week increase of $77 million to $7.257 billion during the period ended on Nov 24, the central bank announced on Thursday. In the preceding week, the SBP attributed an outflow of $216m to debt servicing but didn’t explain the reasons for this buildup in reserves. Bankers say the SBP regularly buys dollar
Credit guarantee provider InfraZamin Pakistan and microfinance institution Kashf Foundation announced on Thursday the closing of South Asia’s inaugural gender bond. In a gong ceremony at the Pakistan Stock Exchange (PSX), Securities and Exchange Commission of Pakistan (SECP) Chairman Akif Saeed praised the stakeholders for coming up with that debt instrument that helped the microfinance provide