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
The International Monetary Fund (IMF) faces tough choices on how to deal with Pakistan after the February 8 general election and how to assess the country’s debt situation, former central bank governor Reza Baqir said. The government secured a $3 billion loan programme with IMF in July that helped pull the cash-strapped nation back from the brink of a sovereign debt default. However, the pro
Suzuki Motor Corporation (SMC), the parent company of Pak Suzuki Motor Company Ltd, has agreed to purchase the ordinary shares of PSMCL at a buyback price of Rs609 per share for delisting. In a stock filing, the company said that the above deal is subject to the purchase of at least 13,915,775 ordinary shares (62.84 per cent) out of 21,145,760 ordinary shares outstanding with the shareholders o