Pakistan Stock Exchange (PSX) on Monday came under heavy selling pressure as the KSE-100 index slumped nearly 1,050 points amid uncertainty surrounding the State Bank of Pakistan (SBP)’s policy rate announcement ahead of new loan talks with the International Monetary Fund (IMF). Although trading began on a positive note, reflecting the sharp gains recorded in the previous session, market sentim
Pakistan’s Ambassador to Iran, Muhammad Mudassir Tipu, discussed the challenges and opportunities for enhancing bilateral trade between Pakistan and Iran. He stressed the need for the trade bodies of both countries to further strengthen bilateral relations, as per a press statement released on Monday. “We are working on institutionalising barter trade with both countries. Iran trades with other
The effective protection of intellectual property rights (IPR) is mandatory for attracting and retaining foreign direct investment (FDI) in the country as infringements have caused a loss of up to Rs800 billion to the public exchequer last year, according to an OICCI survey. “Companies also reported a total loss of 20% of their turnover due to these infringements,” Overseas Investors Chamber of
Pakistan’s central bank has left its key policy rate unchanged at a record high of 22% for the seventh consecutive time, meeting market expectations. This decision comes ahead of the International Monetary Fund (IMF) executive board’s final approval for the release of the last tranche of $1.1 billion on Monday. While the IMF has consistently advised the central bank to maintain a tight monetary
Cement manufacturers have welcomed a recent statement of Prime Minister Shehbaz Sharif on the implementation of track and trace system by the Federal Board of Revenue (FBR) and the initiation of an investigation into its mismanagement. “APCMA in various meetings and correspondences with the FBR has maintained from day one that the track and trace system cannot function within the cement industr