Pakistan’s electricity supply companies caused a staggering Rs660 billion loss to the national exchequer in the last fiscal year ending June 30, 2024, according to a recent Dawn report. To put this in perspective, this amount is 11 times the federal government’s Rs59.7bn budget for higher education last year. This comparison starkly highlights the depth of the structural problems afflicting Pakist
The Pakistan stock exchange continues to rise, with the index surging by 2.1% to current index at 113,141.20 during intra day trading breaching the 113,000 point barrier for the first-time. At 11:00 am, KSE-100 index rose by 2330.99 points (2.1%), up from the previous day's close of 110,810.21 points. The market saw a positive turnaround, with the index reaching a high of 113,481.90 and a lo
Pakistan's total liquid foreign reserves remained largely stable, with a slight decline of $19 million, settling at $16.6 billion as of December 6, 2024. These reserves include $12.05 billion held by the State Bank of Pakistan (SBP), marking the highest level since March 2022, and $4.55 billion held by commercial banks. The central bank's reserves increased by $13 million during the week, suppo
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, said on Thursday that Islamic finance and Islamic capital markets could play a pivotal role in helping Pakistan achieve macroeconomic stability and sustainable growth. Addressing the inaugural session of the Second International Islamic Capital Markets Conference & Expo in Karachi, the minister stated that while Pakistan had
The price of high-speed diesel may go down by Rs3.90 per litre effective from December 16 in line with fluctuations in the global oil market. Diesel is mainly used in transport and agriculture sectors and the reduction will have a disinflationary impact on consumers. However, the price of petrol is anticipated to be increased by 81 paisa per litre when the government announces its fortnightl