The government raised Rs704 billion from treasury bills on Wednesday, more than double the target set for the auction. At the same time, the cut-off yields on the treasury bills increased for the short-term three-month and long-term 12-month papers, but the rate for the benchmark six-month bills was kept unchanged. The State Bank raised Rs541.5bn for the three-month tenor at 21.66 per cent,
ISLAMABAD: Pakistan’s key diplomatic allies have begun discussions with the new government’s economic team to foster bilateral and multilateral economic and financial cooperation. European Union Ambassador to Pakistan Dr Riina Kionka, US and China’s envoys Donald Blome and Jiang Zaidong met Finance Minister Muhammad Aurangzeb in the last four days. The three envoys met the finance minister a
ISLAMABAD: With the country set to approach the International Monetary Fund (IMF) for a fresh programme, Prime Minister Shehbaz Sharif on Wednesday decided to include global experts and all stakeholders in a consultative process aimed at improving the country’s economic health and financial stability. Chairing a meeting on economic revival and reforms, the PM said he would oversee the implement
The stock market turned in a cautious performance on Monday ahead of the monetary policy announcement as a result the benchmark index managed to post modest gains with a sharp contraction in the trading volume. Topline Securities Ltd said the equities kicked off the week on a positive note as the benchmark KSE 100 index rose 332 to 65,148 points in early trade amid hopes of a positive outcome o
Pakistan Stock Exchange (PSX) on Monday experienced a modest recovery, fueled by anticipation surrounding the State Bank of Pakistan’s (SBP) monetary policy announcement and optimism about the International Monetary Fund’s (IMF) final review under its standby arrangement (SBA). In the morning, trading began on a positive note but the KSE-100 index soon plunged to the intra-day low at 64,811.92