The Executive Board of the International Monetary Fund (IMF) will meet on April 29 to finalise its last review of Pakistan’s $3 billion Stand-By Arrangement (SBA). “According to the IMF’s event calendar, the review meeting is set for 10:00am on April 29,” a diplomatic source informed Dawn. Earlier this week, the Fund published a schedule of the Executive Board’s meetings on its website, whic
Finance Minister Muhammad Aurangzeb said on Tuesday that Pakistan’s foreign exchange reserves would reach “anywhere between $9 to $10 billion” by the end of June. Addressing the inaugural session of the seventh ‘Leaders in Islamic Business Summit’ in Islamabad, he said the expected position in June would be a “much better position in terms of where we were [in the previous year]”. Pakistan’s
The Pakistan Stock Exchange (PSX) on Tuesday announced the listing of the Mahaana Islamic Index Exchange Traded Fund (MIIETF) managed by Mahaana Wealth Ltd (MWL). It is the second Islamic Equity ETF, allowing Sharia-conscious investors to invest in the top 30 most liquid Sharia-compliant companies. JS Global Capital has been appointed the authorised participant and market maker of the ETF. W
A prospective investment blueprint delineating a proposed infusion of $1 billion into various plans for port development in Pakistan was unveiled on Tuesday by Hutchison Ports, one of the world’s leading ports network, already operating in the country. The plan was unveiled by a delegation of the Hong Kong-based ports network during a meeting with Minister for Maritime Affairs Qaiser Ahmed Shei
A number of export-oriented industries opened their units on Tuesday despite a local holiday in the country’s economic nerve centre, which was announced in connection to Iranian President Sayyed Ebrahim Raisi’s visit to the port city. However, many units could not meet their production and export targets due to a labour shortage and disruption in cargo movement caused by a road blockade for the