After extending the term of a $3 billion deposit to boost its foreign-currency reserves late last year, Saudi Arabia’s finance minister has said his country is also discussing with the World Bank and other institutions how can it be “more creative to provide that support” to Pakistan. Speaking at the World Economic Forum, Mohammed Al-Jadaan also indicated the kingdom is changing the way it prov
Traders declared open season on State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday, hurling barbs that sometimes bordered on outright insults for imposing import restrictions. Members of the Karachi Chamber of Commerce and Industry (KCCI) spared little mercy for the central bank chief in a town-hall meeting for letting 5,700 containers laden with food, medicine and industrial raw m
The World Bank has delayed the approval of two loans for Pakistan worth $1.1 billion until the next fiscal year pending some steps on the country’s energy debt and tariffs, a finance ministry source told Reuters on Wednesday. The approval of the loans have been pending since June, said the source, declining to be named as they were not authorised to talk to the media. Pakistan’s next fiscal yea
Shares at the Pakistan Stock Exchange (PSX) fell sharply on Tuesday, with analysts attributing the sell-off to political uncertainty and delay in the completion of the International Monetary Fund’s (IMF) ninth review. The benchmark KSE-100 index plunged by 1378.54 points, or 3.47 per cent, to close at 38,342.21 points, its lowest level since July 27, 2020. Today’s sell-off marked the highest
Symmetry Group Ltd, a digital solutions company with multiple subsidiaries, is looking to raise Rs430.2 million through a stock exchange listing. The Pakistan Stock Exchange (PSX) sought public feedback on Tuesday to the proposed listing of the company, which is offering 30.9 per cent of its post–initial public offer (IPO) shareholding to investors. Symmetry Group is selling 78.2m ordinary s