Post-election scenario is more important for the economy as the ‘stalemate’ prevailing for the last 15 days will see a vital change with the formation of the new government, said market sources. Since the general elections were announced the stakeholders of the economy have been keenly watching the developments particularly the economic performance and the caretaker government’s relations with
The nationwide suspension of cellular mobile telephony as well as mobile data service at 8am on the election day caught the citizens by surprise, not only creating fear among the voters but also caused significant loss to several mobile data based businesses. The international internet watchdog ‘NetBlocks’ too has said it detected internet blackouts in multiple regions across the country and th
Despite being surrounded by political and economic uncertainties, the local currency remained stronger against the US dollar in the interbank market. The exchange rate, which has been a serious cause of concern for the government as well as stakeholders in the economy, remained stable for over two months. The State Bank of Pakistan reported the dollar rate at Rs279.34 in the interbank market
Amid ongoing engagement with the International Monetary Fund (IMF) for further electricity tariff reforms involving increases for residential and reductions for industrial consumers, the country’s power sector regulator, Nepra, has warned the government that its compulsions to pass on full costs coupled with historically highest inflationary spree in the country was diminishing the purchasing capa
Bulls dominated the trading floor of the Pakistan Stock Exchange (PSX) on Tuesday as shares gained nearly 800 points due to activity reported in the energy sector. According to the PSX website, the KSE-100 index gained 659.15 points to stand at 63,662.06 at 1:42pm, up 1.05 per cent from the previous close of 63,002.91. Continuing the upward momentum, the index eventually closed at 63,799.01,