The International Monetary Fund (IMF) and Pakistan resumed their talks on Monday, with Islamabad hoping that these virtual discussions lead to a deal that eases up ever-increasing pressure on the country’s ailing economy. In Islamabad, Finance Secretary Hamed Yaqoob Sheikh told Reuters the “duration (of the talks) cannot be confirmed but we intend to wrap these up at the soonest”. Pakistan h
Trading on the stock exchange started on a positive note in the outgoing week in anticipation of the staff-level agreement between Pakistan and the International Monetary Fund (IMF). Arif Habib Ltd said energy stocks, in particular, propelled the index of representative shares to recent highs as investors expected a resolution of the circular debt. Moreover, the rupee appreciated 2.7 per cent o
In light of an unexpected relief in tax measures from the International Monetary Fund, the government has decided to take a proactive approach and implement tax and non-tax measures from Feb 15 instead of March 1 — the purported deadline proposed by the global lender — to secure quick release of $1.2 billion tranche. Ahead of the start of much-delayed talks, the government was expecting that th
Crypto companies offering their customers eye-popping yields through so-called “staking” products are earning the ire of the US securities regulator who says such services should be registered. Crypto exchange Kraken on Feb 9 agreed to shutter its staking service for US customers and pay $30 million in penalties, as part of a settlement with the regulator, and investors are worried a broader ba
While many in the business world of Pakistan were eager to see an armoured saviour taking over the country to put things right, others wished to move out of the shadows of the past and partake in the process of economic restructuring to ensure sound foundations for future business growth and sustainable development. Even the enlightened corporate leaders fondly recalled the 60s, 80s and 2000s e