The latest proposal of the International Monetary Fund (IMF) to further liberalise imports could destabilise rupee-dollar parity, said market sources. “The IMF wants to see up to 45 per cent increase in the imports in the second half of the current fiscal year which would surely put pressure on the exchange rate,” a well-informed senior banker told Dawn on Thursday. He said the IMF has draft
Shares at the Pakistan Stock Exchange (PSX) traded in the green on Wednesday over clarity on the political front, gaining more than 900 points. According to the PSX website, the benchmark KSE-100 index gained 1166.11 points, or 1.9 per cent, to stand at 62,393.03 at 10:43am from the previous close of 61,226.92. It finally closed at 62,153.84 points, up 926.92 or 1.51pc. On Tuesday, the in
The stakeholders on Consortium Formation for Machike-Thallian-Tarujabba White Oil Pipeline Project (MTT-WOP), on Wednesday, signed a Memorandum of Understanding (MoU) at the Special Investment Facilitation Council (SIFC) Secretariat, PM Office. The signing ceremony was witnessed by the minister for power and petroleum, secretary (Petroleum Division), secretary SIFC, and the heads of consortium
The government has come under fire for seeking permission from the regulator for recovering Rs81.5 billion from honest consumers paying bills regularly on account of capacity charges and losses caused by theft and leakages. Interveners called on the regulator to take strict action to fix the problem. The National Electric Power Regulatory Authority (Nepra) held a public hearing on Wednesday to
Moody’s Investors Service has given a “credit negative” signal to Pakistan in the face of prolonged political ambiguity and social tensions over election results, which will make it tough to approach the IMF for a new programme, weaken external economy and make liquidity management more challenging. In its report titled “Political uncertainty persists in Pakistan following inconclusive election