While painting an otherwise rosy economic picture at the fag-end of its rule, the caretaker government on Wednesday conceded the persisting inflationary trends and rising pressures on current expenditure mainly due to the policies of the government and the State Bank of Pakistan, respectively, continue to remain critical challenges, needing prudent policies of the next government to strengthen eco
The State Bank of Pakistan (SBP) has relaxed the trade regime by allowing advance payments or remittances for import of goods, which may increase outflow of dollars from the country. The State Bank issued a circular on this subject and invited all banks to circulate this new development regarding the advance payments without prior approval of SBP. “Authorised dealers are henceforth allowed t
The caretaker government on Wednesday increased the per-litre price of petrol by Rs13.55 and that of high-speed diesel (HSD) by Rs2.75 for the next fortnight ending Feb 15, citing higher international market and import premiums. The government has also raised the price of liquefied petroleum gas (LPG) by Rs1.16 per kilogram for February. In a late-night announcement, the Ministry of Financ
Pakistan Stock Exchange (PSX) continued its losing streak on Tuesday as it dropped over 900 points owing to growing concerns over political noise and security challenges ahead of elections in the country. Despite the beginning of trading on a promising note, marked by the intra-day high of 63,074.51 points, the KSE-100 index was unable to sustain the momentum and began a rapid descend before mi
Bears continued to dominate the Pakistan Stock Exchange (PSX) on Tuesday and dragged its benchmark index down by over 900 points. According to the PSX website, the KSE-100 index lost 931.98 points to stand at 61,841.74, down 1.48 per cent, from the previous close of 62,773.72 points. The benchmark of representative shares opened the week a day earlier with a decline of more than 1,000 points