KARACHI: The stock market snapped its four-day winning streak as investors resorted to profit-taking following reports that the new government has begun preparations to engage the International Monetary Fund (IMF) for the start of final review under the current $3bn Stand-By Arrangement (SBA) and negotiating a fresh Extended Fund Facility. The country is faced with numerous economic issues main
KARACHI: Pakistan’s US dollar-denominated Eurobonds hit a record high price in the global market following an informal invitation from the newly elected government of Prime Minister Shehbaz Sharif to the International Monetary Fund (IMF) for talks on the last loan tranche of $1.1 billion and a new loan programme. The development spurred global investors, encouraging them to take new position
KARACHI: Leading international and local experts in the energy, power, infrastructure, risk management, and insurance sectors have urged for the promotion and assurance of privatising all government departments to address both the energy and economic challenges of the country. They said this during presentations at a conference titled: “Energy Summit ‘24,” focused on fostering growth, collabora
ARACHI: Pakistani currency continued to depreciate for the third consecutive working day on Tuesday as it reached Rs279.31 against the US dollar in the inter-bank market. According to State Bank of Pakistan’s (SBP) data, the rupee trimmed 0.02% of its value, or Rs0.05, against the greenback on a day-on-day basis. Market talk suggests that exporters were charging a higher premium on US dol
ISLAMABAD: Expenditures of the federal government shot up 50% to Rs7.5 trillion during the first seven months of the current fiscal year, a challenge that the political leadership is planning to tackle through a technocratic-bureaucratic setup in the finance ministry. As against expenses of Rs5 trillion during July-January of the last fiscal year, the federal government spent Rs7.53 trillion du