The current account posted a surplus for the second consecutive month, shrinking the 10-month deficit by 76 per cent year-on-year, the central bank said on Tuesday, following stringent import restrictions by the government to manage an economy in turmoil. The surplus of $18 million in April came after the country’s current account turned to $654m in March — a big monthly figure and the first su
Share prices oscillated within a short range on Monday owing to the political upheaval prevailing in the country. Arif Habib Ltd said the benchmark KSE-100 index managed to close the trading session on the higher side even though it opened in the negative zone. Investors’ engagement remained modest as they awaited political clarity. Analyst Ahsan Mehanti said investors took into account the
With less than a month to present the next fiscal year’s budget, the government is contemplating holding meetings of the Annual Plan Coordination Committee and the National Economic Council on May 23 and June 1, respectively, to finalise over Rs900bn worth of federal Public Sector Development Programme (PSDP). And even before these events, representing both the Centre and its federating units,
With less than a month to present the next fiscal year’s budget, the government is contemplating holding meetings of the Annual Plan Coordination Committee and the National Economic Council on May 23 and June 1, respectively, to finalise over Rs900bn worth of federal Public Sector Development Programme (PSDP). And even before these events, representing both the Centre and its federating units,
Pakistan’s external financing requirements have not been changed in talks with the International Monetary Fund over bailout funds, the IMF resident representative in Pakistan said, denying local media reports that the Fund was seeking fresh financing. “There is no truth to reports that the IMF is asking Pakistan to raise $8 billion in fresh financing,” Esther Prez Ruiz said in a text message se