On its way to missing targets in the current financial year, Pakistan’s biggest challenge now is fiscal consolidation and reforms amid a weak coalition government and political instability stemming from accusations of electoral fraud, the Washington-based Institute of International Finance (IIF) has said. On the other hand, exchange rate, monetary policy, energy subsidies and state-owned enterp
Pakistan Stock Exchange (PSX) on Monday experienced a significant recovery, driven by the World Bank’s approval of $150 million project financing and completion of final review under the International Monetary Fund’s (IMF) $3 billion standby arrangement (SBA). In the morning, the market saw a lacklustre start with the KSE-100 index touching the intra-day low of 65,301.73 points. However, invest
Shrugging off overnight gloomy sentiments, the stock market on Monday staged a strong rebound aided by aggressive foreign buying indicating improved investor confidence in the economic direction of the country. Ahsan Mehanti of Arif Habib Corporation said stocks showed strong recovery as investors weighed World Bank approval of $149.7 million project financing and release of $1.1 billion early
The Pakistan Stock Exchange (PSX) is gearing up to host its inaugural company of 2024 on its trading platform this week. Secure Logistics Group (SLG), the pioneering logistics entity to be listed at the national bourse, is slated to offer 50 million shares at a minimum (floor price) of Rs12 per share. The objective is to raise a minimum of Rs600 million through the book-building process, following
Pakistani currency notched up fresh gains for the eighth consecutive working day on Monday, rising to a new five-month high at Rs278.12 against the US dollar in the inter-bank market in the wake of higher supply of the foreign currency compared to its demand. According to State Bank of Pakistan’s (SBP) data, the rupee inched up Rs0.02 on a day-on-day basis against the greenback. The currency