Bears returned to the trading floor of the Pakistan Stock Exchange (PSX) on Thursday as shares traded in the red and lost more than 500 points. According to the PSX website, the KSE-100 index closed at 64,298 points, down 524.43 or 0.81 per cent, from the previous close of 64,822.43. The index had previously maintained an upward trajectory on expectations of measures aimed at addressing econ
Pakistani currency closed stable at a three-month high above Rs279.50 against the US dollar in the inter-bank market on Thursday as the central bank’s foreign exchange reserves hit over six-month high at $8.27 billion. The State Bank of Pakistan (SBP) reported that its foreign exchange reserves increased by a net 3%, or $243 million, in the week ended January 19, 2024. In its latest weekly u
An arm of the Special Investment Facilitation Council (SIFC) has given directive to seek approval of the International Monetary Fund (IMF) for the settlement of energy sector circular debt of Rs1.27 trillion amid the Ministry of Finance’s refusal to provide Rs745 billion for cash injection in the short term. The net impact on budget of the Rs1.27 trillion circular debt plan will come to Rs902 b
Bears returned to the trading floor of the Pakistan Stock Exchange (PSX) on Thursday as shares traded in the red and lost more than 500 points. According to the PSX website, the KSE-100 index closed at 64,298 points, down 524.43 or 0.81 per cent, from the previous close of 64,822.43. The index had previously maintained an upward trajectory on expectations of measures aimed at addressing econ
PEOPLE often ask which political party has the best track record of managing the economy and producing the best results. It is a tricky question to give a straightforward answer to, but if pressed, the most obvious reply would be ‘none of the above’. The reason is that all major parties have had their stint in power and yet Pakistan continues to be the most reliable client of the IMF, the insti