Trade between Pakistan and Central Asian countries has come to a standstill owing to the closure of five border crossings adjacent to Afghanistan. Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) President Junaid Ismail Makda said that border crossings at Chaman, Torkham, Ghulam Khan, Angoor Ada and Kharlachi had been closed. “In light of this situation, traders are not only
The Pakistani currency strengthened to over a 12-month high, closing just below the highly anticipated level of Rs280 against the US dollar in the interbank market on Thursday. According to data from the State Bank of Pakistan (SBP), the domestic currency appreciated by 0.04%, or Rs0.12, concluding at Rs279.98 against the greenback. This surge follows the country’s recent report of a current ac
Pak Suzuki Motor Company has agreed to increase the price of its shares under a buyback plan to Rs609 per share to qualify for delisting from the Pakistan Stock Exchange (PSX). Earlier, the Japanese car manufacturing firm had offered to buy back its shares from the general public at Rs406 per share in the first week of December 2023. However, the voluntary delisting committee of the PSX a co
The World Bank has offered financial assistance and risk guarantee for investor comfort in a bid to encourage private sector participation in the management of ailing power distribution companies (DISCOs). As efforts are underway to hand over management control of DISCOs to the private sector, the Power Division has drawn up an innovative plan to reduce circular debt in the energy chain. The di
Pakistan received $8.1 billion in loans in the past six months on the back of International Monetary Fund’s (IMF) stamp, as Finance Minister Dr Shamshad Akhtar said on Thursday that talks with the global lender were about to begin for an uninterrupted flow of foreign loans. “No bilateral creditor will pay you nor any multilateral agency will take risk on Pakistan without the IMF programme,” sai