The Asian Development Bank (ADB) on Wednesday said Pakistan’s overall recovery was still constrained by moderate confidence and high inflation was eroding the purchasing power of its population. In its December 2023 ‘Asian Development Outlook’, the Manila-based lending agency expected Pakistan’s inflation rate to ease from an average of 28.5pc in July-October, owing to fiscal consolidation an
The prices of major petroleum products — petrol and high-speed diesel (HSD) — are set to fall by over Rs10 per litre each on Dec 15 for the next fortnight mainly because of a decline in the international market. Informed officials said the international prices of both HSD and petrol had declined over the past fortnight by almost 5pc while the rupee had also gained marginally against the US doll
The equity market rebounded on Tuesday after a slight decline a day ago that halted a six-day bull run on the Pakistan Stock Exchange (PSX). Topline Securities Ltd said investors kept a close eye on the decision by the Monetary Policy Committee of the State Bank of Pakistan, which was to be announced after market hours. The prevailing market sentiment indicated investors leaned towards the
Securities and Exchange Commission of Pakistan (SECP) Insurance Division Director Waseem Khan said on Tuesday Pakistan has no public programme for disaster insurance even though it ranks fifth on the list of countries that are most vulnerable to disaster. Speaking at a news briefing ahead of the International InsureImpact Conference to be held on Dec 13 and 14, Mr Khan said the government shou
The State Bank kept the interest rate unchanged at a record 22 per cent on Tuesday for the fourth consecutive meeting, hoping to see a significant decline in inflation in the second half of the fiscal year. Most independent economists and analysts expected the central bank to hold the rate steady due to a surge in the November inflation. The bank’s monetary policy committee (MPC) said that a