Shares at the Pakistan Stock Exchange (PSX) fell on Wednesday, with analysts attributing the downtrend to a delay in signing the staff-level agreement (SLA) with the International Monetary Fund (IMF) for a desperately needed economic bailout, as well as, the impending rate hike. The benchmark KSE-100 index reached an intraday low of 480.65 points, or 1.19 per cent, around 11am. However, it clos
IT is all a bit confusing. Is it its familiarity with Pakistan’s poor track record or some sinister international ‘plot’ that is keeping the IMF from finalising the staff-level agreement with Islamabad for the revival of the stalled loan, despite the government’s implementation of several politically tough ‘prior actions’? At a rare background briefing arranged for journalists on the current st
The worst part is that there seems to be no light at the end of this tunnel. Those in power keep repeating the same mistakes and the poor end up paying the price. Wara Irfan Published February 28, 2023 Updated about 18 hours ago Someone sleeps hungry tonight. Or at least tries to. It’s not really easy to sleep on an empty stomach. Or when your ears are ringing with the hunger-induced screams o
Oil prices extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world’s top crude importer, boosted the outlook for global fuel demand. Brent crude futures for May rose 46 cents, 0.6 per cent, to $83.91 a barrel at 0445 GMT. US West Texas Intermediate (WTI) crude for April gained 42 cents, or 0.6pc, to $77.47 a barrel. Oil prices continue to be
The Pakistani rupee’s value declined sharply in the interbank market on Wednesday, with the local currency closing at Rs266.11 per dollar, according to the State Bank of Pakistan (SBP). This equates to a depreciation of 1.76 per cent from yesterday’s close of Rs261.5 a dollar. Exchange Companies Association of Pakistan (Ecap) Secretary General Zafar Paracha attributed the rupee’s depreciation t