The rupee remained under pressure on Monday in both interbank and open markets against the US dollar mainly due to uncertainties linked with the revival of the IMF programme. The State Bank of Pakistan reported the dollar price appreciated by 84 paise to Rs281.61. The exchange companies, which deposit their surplus dollars in banks, quoted the dollar price at Rs284 in the interbank market. B
Dark clouds continued to hover over the auto sector as overall sales of cars, vans, pickups and light commercial vehicles (LCVs) posted a 73 per cent year-on-year drop in February to 5,762 units which is the lowest monthly sales number after 4,500 units in May 2020. During the first eight months of the fiscal year, overall sales shrank by 44pc to 100,057 units from 178,250 in the same period of
Foreign investors have come out with all guns blazing against the Board of Investment and other “relevant ministries” for turning a blind eye to their plethora of problems, including the holdup in dividend repatriation. The representative body of more than 200 largest multinationals operating in Pakistan has written a letter — seen by Dawn — to the prime minister, saying they’ve not been able t
Share prices extended their overnight momentum on Thursday, thanks to rising expectations about the signing of a staff-level agreement between the government and the International Monetary Fund (IMF) for the revival of a $7 billion loan programme. Arif Habib Ltd said the benchmark of representative shares traded in the positive zone throughout the session as investors remained optimistic about
PAKISTAN stands on the brink of default even as it remains engaged with the IMF at the tail end of a three-year programme. While the country’s economic woes are rooted in its own inept policies, IMF has escaped scrutiny of its stabilisation programmes that have failed to put Pakistan on a sustainable path in 22 attempts and certainly needing another programme immediately after this one concludes.