While expressing their strong resentment toward the justification for pushing up prices to unprecedented levels of up to Rs303,500 per tonne, builders and developers have suspended the purchase of steel bars for seven days. Association of Builders and Developers (ABAD) Chairman Altaf Tai said no steel bars would be unloaded at the construction sites of the association’s members from Friday.
Finance Minister Ishaq Dar said on Friday that the government had received the Memorandum of Economic and Financial Policies (MEFP) from the International Monetary Fund (IMF) related to the completion of the ninth review of a $7 billion loan programme. “We insisted that they (the Fund delegation) give us the MEFP before leaving so we could look at it over the weekend,” he said, adding that the
Stocks rose on Tuesday, thanks to the investors’ optimism about the potential finalisation of a policy-level agreement between the government and the International Monetary Fund (IMF). Progress on the resolution of the gas sector’s circular debt brought the exploration and production stocks into the spotlight, said Arif Habib Ltd. The government is considering settling the outstanding debt
With strong build-up in core earnings, MCB Bank’s profit before tax for the year ended Dec 31, 2022, “posted an impressive growth of 37.3 per cent to reach a historic high of Rs71.4 billion”, the bank said in a press release on Wednesday. The board of directors of MCB Bank Limited in its meeting under the chairmanship of Mian Mohammad Mansha reviewed the bank’s performance and approved the fina
Former central bank chief Dr Ishrat Husain took commercial lenders to task on Wednesday for their laziness, which has resulted in vast gaps in banking services in agriculture, small and medium enterprises (SMEs), low-cost housing and personal finance segments. In his keynote address at the fourth Digital Banking and Payments Summit organised by TerraBiz, Dr Husain said he was “not satisfied” wi