After inflows from the International Monetary Fund (IMF), the foreign exchange reserves of the State Bank of Pakistan (SBP) increased enough to cover 1.6 months of imports, helping the exchange rate to remain stable. The SBP reported on Thursday that the reserves of the central bank went up by $243 million to $8.27 billion during the week ending on Jan 19. The IMF Board meeting held on Jan 1
Taking strict notice of the financial autonomy claimed by corporate and autonomous entities and executive departments of the federal government resulting in budgetary slippages, the Ministry of Finance has tightened fiscal controls ahead of a quarterly review with the International Monetary Fund (IMF). The ministry has barred all the federal ministries, divisions and their attached and sub-ordi
The bull took charge at the Pakistan Stock Exchange (PSX) on Wednesday as shares climbed over 300 points on positive investor sentiment. According to the PSX website, at 12:04pm, the benchmark KSE-100 index climbed 512.78 points, up by 0.8 per cent, to stand at 64,967.0 from the previous close of 64,454.22. The bourse retracted marginally and closed at 64,822.43, up by 368.21 points or 0.57p
The government is set to hold the second auction of Sukuks at the Pakistan Stock Exchange (PSX) on Tuesday, aiming to raise new domestic debt worth Rs100 billion after securing financing at a comparatively low price in the first auction held last month at the bourse. The government has decided to gradually increase the number of auctions of its bonds through PSX, considering that investors – both
Economic experts and investors in Pakistan have presented proposals to boost foreign direct investment (FDI) in the country. These recommendations reiterate the importance of creating a secure and healthy environment, simplifying regulations, and the provision of attractive incentives to investors. In discussions with The Express Tribune, experts highlighted the significance of simplifying regu