The International Monetary Fund (IMF) is preparing to discuss Pakistan’s budget plans for the coming financial year as part of a process to unlock a crucial financing injection for the cash-strapped nation, the IMF’s country mission chief said. An IMF review of the budget presents a fresh hurdle before the lender approves the release of pending bailout funds, which are crucial for Pakistan to r
Stocks continued their upward movement on Wednesday as the buying momentum continued in the cement sector. Topline Securities said the sustained interest in the cement sector was on the back of the second buyback announcement of more than Rs10 billion by Lucky Cement Ltd, which is the country’s largest cement player, a day ago. Arif Habib Ltd said another catalyst was the latest data on the
The Aga Khan Fund for Economic Development (AKFED), which is the overseas sponsor of Habib Bank Ltd, is going to use its accumulated dividends worth Rs3.5 billion to buy additional shares of the country’s largest lender from the stock market, a regulatory filing said on Tuesday. The announcement is first of its kind by any corporate entity with overseas sponsors given that the laws governing th
Bringing together some 250 professionals, the conference ‘New Age Innovations: Celebrating those who dare to be different’ organised by New World Concepts here on Wednesday focused on topics such as utilisation of cutting-edge technologies and implementing new business models while also providing insights into the latest trends and developments in the world of business innovation. Senior profes
Cement makers continued to struggle with declining construction activities as their domestic sales in April and 10MFY23 plunged by 25.13 per cent and 16.23pc, respectively. As per data released by the All Pakistan Cement Manufacturers Association (APCMA), local sales in April stood at 2.531 million tonnes as against 3.380m tonnes in April 2022. The 10MFY23 domestic despatches shrank to 33.09