The Pakistan Stock Exchange (PSX) closed at a record high on Wednesday, settling above 165,500 points despite significant volatility. The benchmark index reached a new intraday high of 166,522 before experiencing a sharp fluctuation. Following a strong rally, the market experienced heavy selling pressure, causing the index to decline by as much as 1,338 points. However, the market ended with a
The government’s Rs1.225 trillion syndicated financing deal with 18 banks — the largest in Pakistan’s history — is being trumpeted as a landmark move to ease the power sector’s crippling circular debt. Tied to an existing surcharge on electricity bills, the cashflow-backed plan is touted as a step towards fiscal stability and energy sector reform. Yet critics and supporters warn that, without deep
Finance Minister Muhammad Aurangzeb on Wednesday said that talks with the International Monetary Fund (IMF) were headed in the “right direction”. An IMF mission led by Iva Petrova held a formal kick-off meeting with Pakistan’s economic team to review the implementation of the EFF and RSF. The programme’s performance as of the end of June this year — the period under review — has been mixed.
Pak Suzuki Motor Company Ltd (PSMCL) has increased the price of its discontinued Suzuki Ravi model by Rs100,000, taking the new ex-factory rate to Rs2.075 million, up from Rs1.975m. According to a circular issued to authorised dealers on Wednesday, the revised price applies despite the vehicle’s production already being halted. Data from the PAMA shows zero production of the Ravi in July a
The government raised Rs976 billion through auctions of Treasury bills (T-bills) and Pakistan Investment Bonds (PIBs) on Wednesday, though cut-off yields remained largely unchanged. In the T-bills auction, the government set a target of Rs750bn but accepted bids worth Rs641bn through competitive bidding. An additional Rs89bn was raised through non-competitive bids, bringing the total borrowi