Shrugging off overnight gloomy conditions stemming from mounting political tensions and a delay in loan approval by the IMF board, the equities staged a recovery ahead of the announcement of an anticipated cut in the interest rate, propelling the index above 79,000 on Thursday. Ahsan Mehanti of Arif Habib Corporation said stocks closed bullish amid speculations over SBP key policy rate announce
BEYOND sensational late-night arrests of opposition MNAs, impunity for abductors and unending intrigue, there is a remarkable degree of continuity and consistency in how the Pakistani ruling class rules. Working people and ethnic peripheries are of secondary importance to all who occupy the corridors of power; their primary concern is to appease big creditors and foreign investors. Which is
CONTINUING ongoing monetary easing, the State Bank has slashed its key policy rate by 200bps from 19.5pc to 17.5pc for the third time since June. Cumulatively, the bank has sliced the interest rates by 450bps from the decade-high of 22pc in three months. The fresh reduction in the borrowing costs shows the central bank’s confidence over recent economic stability amid hopes that the IMF Board wo
The International Monetary Fund (IMF) on Thursday confirmed that the Fund’s board will meet on September 25 to discuss the $7 billion Extended Fund Facility (EFF) to Pakistan. Pakistan expected to secure a deal with the Fund in August after the lender approved the 37-month programme agreed upon in July. The country also raised its tax revenue target by a record 40 per cent and hiked energy pric
The Shanghai Cooperation Organisation (SCO) trade ministers on Thursday underscored the need to counter protectionist trade measures and called for the strengthening of a non-discriminatory, World Trade Organisation-based multilateral trading system. The 23rd ministerial meeting saw the endorsement of three major initiatives — launched by Pakistan, Kazakhstan and Russia — to foster deeper coope