Shares at the Pakistan Stock Exchange (PSX) recovered on Tuesday as an International Monetary Fund (IMF) delegation arrived in Pakistan to discuss the revival of the stalled loan programme. The benchmark KSE-100 index jumped 801.79 points, or 2.01 per cent, to close at 40,673.06 points. It reached an intraday high of 845.99 points, or 2.12pc, around 3:04pm. Arif Habib Corporation Director Ah
The Pakistan Stock Exchange is mulling changes in its regulations to revamp the defaulters’ segment to protect the rights of minority shareholders. The exchange places listed firms in this segment when they commit any of the 14 specific irregularities mentioned in the PSX Rule Book, the document containing all exchange-related regulations for the 532 listed companies. The PSX has proposed th
Power outages are a nuisance in general but they become demonic when they encompass an entire country, extend beyond 15 hours, and occur twice in three months. Then they become a blackout. That’s exactly what happened on January 23. What was unusual about this blackout was that it came within months of a previous one in October and that it occurred in the winter when demand is less than half th
The rupee, which recently hit a record low, appreciated by Rs1.74 against the US dollar in the interbank market on Tuesday. The local currency closed at Rs267.89, up 0.65 per cent from yesterday’s close of Rs269.63. Tresmark’s Head of Strategy Komal Mansoor said the rupee’s appreciation could be attributed to exporters offloading some of their proceeds. Alpha Beta Core CEO Khurram Schehza
The Federal Board of Revenue (FBR) on Tuesday announced that its net collection grew 22.6 per cent to Rs537 billion in January on a year-on-year basis, exceeding the Rs533bn target set for the month.However, the collection in the first seven months of 2022-23 fell short by Rs214bn or 5.12pc to Rs3.965 trillion against the target of Rs4.179tr. The tax authorities raised Rs3.965tr in July-January ag