Stock investors opted to book profits in the outgoing week, which resulted in the benchmark index closing in the red. Arif Habib Ltd said market-driving news included the Asian Development Bank announcing a $1.2 billion loan agreement with Pakistan. In addition, the World Bank approved $350 million for economic reforms. After June 2023, Pakistan recorded for the first time a monthly current
There have been some positive developments on the external front in the last couple of weeks. The Asian Development Bank (ADB) has signed six deals with Islamabad to help the cash starved government access $1.2 billion over the next several months. The World Bank has also approved a $350 million package for Pakistan’s budget financing for the Second Resilient Institutions for Sustainable Economy (
The country’s elite class are gearing up to purchase hybrid electric vehicles (HEV) and electric vehicles (EV) despite the uncertain political and economic environment amid the highly depressed sales scenario of fossil fuel vehicles. Will the buyers of petrol and diesel-driven SUVs and pickups shift to HEVs and EVs, or will a new wealthy class rise to acquire these costly electrified vehicles?
Over the last year, the price per egg has increased by about Rs10, of which the Rs5 hike has come over the last month alone. Though some media reports point towards profiteering by shopkeepers, the recent price hike seems to be driven by a demand and supply gap for a key ingredient in poultry rearing — soybean meal. Over the last five years or so, the poultry industry has increased the use of s
The World Bank fears that following the upcoming elections, strong and organised vested interests may spur a number of potential reversals on critical policy reforms — committed to multilateral lenders — posing ‘high’ macroeconomic risks to Pakistan. The possible reversals include the rationalisation of gas and electricity subsidies, lower trade tariffs and better property tax realisation. “