Demand for petroleum oil products (POL) surged by a surprising 8% to 1.44 million tonnes in January against a downward trend in the short to medium-run, as industrial and commercial consumers apparently hoarded the products before the much-anticipated hike in their price. The demand, however, declined by a staggering 20% in the month of January, compared to the same month of last year (January
Inflation rate jumped to 48-year high in January due to a double-digit increase in cost of almost all essential goods, in what appears to be a prelude to what the nation will embrace because of record currency devaluation, higher taxes and electricity prices. The Consumer Price Index (CPI), the inflation monitor, rose by 27.6% in January compared to the same period last year, the Pakistan Burea
The International Monetary Fund (IMF) asked Pakistan on Wednesday to plug unbudgeted Rs675 billion power subsidies with a mix of electricity tariff increase and other revenue enhancing measures, while finding serious deficiencies in the revised ‘Circular Debt Management Plan’ (CDMP) of Rs952 billion. During the first review of the revised plan that was prepared by the Power Division, the IMF te
Bulls led the charge on the Pakistan Stock Exchange on Tuesday, thanks to the optimism shown by investors about the ongoing negotiations between the government and the International Monetary Fund (IMF). Arif Habib Ltd said the level of investors’ involvement remained adequate owing to the potential outcome of the IMF talks. “We recommend investors should avail any downside as an opportunity
THE word ‘default’ (or its less pejorative technical equivalent, ‘restructuring’) sends shivers down the spines of our policymakers and citizens alike. It shouldn’t. Sovereign default, in an economic sense, means a government reneging on its obligations. Per this meaning, almost all governments of the world have indulged in some form of default in their history. Surprise inflation can materiall