For the second consecutive session this week, shares at the Pakistan Stock Exchange (PSX) on Wednesday traded in the red as bears dragged the benchmark index down sharply by 753 points. The KSE-100 index contracted by 753.26 points, or 1.16 per cent, to stand at 64,048.44 from the previous close of 64,801.70. It had reached a low of 63,856.51 during the session. Shahbaz Ashraf, chief investm
Muhammad Aurangzeb, a former chief executive of Habib Bank Limited (HBL) with extensive experience in the financial sector, has taken the reins as Pakistan’s new finance minister. He inherits a daunting economic landscape, grappling with intertwined issues like inflation, unemployment, and significant budget and current account deficits. A note by Topline Securities stated that the investors wer
An International Monetary Fund (IMF) mission is arriving in Pakistan for a second and last review of a $3 billion standby arrangement this week, the finance ministry said on Wednesday. The four-day review begins on Thursday, said the ministry. Islamabad secured the last-gasped rescue package last summer to avert a sovereign default. “Pakistan has met all structural benchmarks, qualitative
The Securities and Exchange Commission of Pakistan (SECP) has directed digitalisation of the whole insurance sector, including life and non-life companies. While prioritising the growth and expansion of the insurance sector, Commissioner Insurance Aamir Khan highlighted innovation, digitalisation and data accessibility as core objectives of the plan. He apprised the industry’s representative
ISLAMABAD: The petroleum prices are estimated to generally remain stable for the next fortnight starting March 16, informed sources said. They said the premium on petrol import had increased to $12.15 per barrel from $10.45 in February but exchange rate and international product prices remained range bound. The premium on the import of high-speed diesel (HSD) has remained unchanged at $6.50 per