The government has decided to extend by two months the deadline for submission of bids for the outsourcing of management and operations of the country’s three major airports following the requests of foreign investors and recommendations of the International Finance Corporation (IFC). The decision was taken at a meeting of the steering committee on outsourcing of Islamabad, Karachi and Lahore
Sri Lanka’s economy rebounded strongly in the fourth quarter of 2023 from the island nation’s unprecedented financial crisis as tourism arrivals rose, the government said on Saturday. Agriculture, industries and services boosted the expansion to 4.5 per cent in the December quarter compared to a 12.4pc contraction a year earlier, the census and statistics department said. It added however
The government does not like to see further devaluation of dollar against the rupee as it impacts both imports and exports, said currency dealers and experts in the interbank market. The dollar fell to a five-month low against the rupee, causing serious concerns for exporters. At the same time, the government fears that a cheaper dollar could lead to higher imports, which may disturb the curren
KARACHI: Pakistan Stock Exchange (PSX) on Thursday made a sharp U-turn as the KSE-100 index soared over 1,000 points, crossing the 65,000 mark in a giant leap that came in the backdrop of optimism about the last review of the International Monetary Fund’s $3 billion standby arrangement (SBA) and a reduction in bond yields. The bourse surged as soon as trading began and the uptrend continued
KARACHI: The Pakistani currency closed stable at a five-month high of Rs278.77 against the US dollar in the interbank market, buoyed by an uptick in the supply of foreign currency in the system. This marks the second consecutive working day of positive territory for the currency, observed on Thursday. According to data from the State Bank of Pakistan (SBP), the domestic currency improved by Rs0