Problems of Hascol Petroleum Ltd, which has been in trouble since 2018 partly for making inaccurate entries in its financial accounts, seem to be mounting as its CEO landed behind bars on Tuesday. A statement by company chairman Sir Alan Duncan said a trial judge refused the confirmation of bail applications from a number of individuals, including CEO Aqeel Ahmed Khan, in an inquiry being held
Various possibilities regarding how to bring the economy back on track are being discussed in financial, trade and industry circles, and it is becoming clearer that there may be no short-term remedy for our economic troubles. Instead, there appears to be a growing consensus that the suffering of the common people may continue for a historically much longer period even if the IMF comes to the count
While continuously increasing the prices on the pretext of rupee devaluation and rising raw material prices, assemblers on Tuesday passed on the impact of one per cent hike in general sales tax to the consumers. Indus Motor Company (IMC) had already raised prices thrice in one month. In the fourth price jump, the company has announced new price of Yaris 1.3 MT, 1.3 CVT, 1.3 H MT, 1.3 H CVT, 1.5
With the implementation of all major prior actions, Pakistan is eyeing a staff-level agreement with the International Monetary Fund (IMF) this week which will also pave the way for much-awaited credit flows from other bilateral and multilateral lenders. A day after the passing of the Supplementary Finance Bill 2023 in the National Assembly, the top economic team of the PMLN-led coalition govern
Shares at the Pakistan Stock Exchange (PSX) opened the week in the red, with analysts attributing the slump to uncertainty over an agreement with the International Monetary Fund (IMF). The benchmark KSE-100 index lost 444.97 points, or 1.08 per cent, to close at 40,673.64 points. It reached an intraday low of 494.64 points, or 1.2pc, around 3:27pm. Aba Ali Habib Securities’ Head of Research