News

Govt plans Rs100 billion Sukuk boost at PSX

The government is set to hold the second auction of Sukuks at the Pakistan Stock Exchange (PSX) on Tuesday, aiming to raise new domestic debt worth Rs100 billion after securing financing at a comparatively low price in the first auction held last month at the bourse. The government has decided to gradually increase the number of auctions of its bonds through PSX, considering that investors – bo

Auto experts split on “Year of Localisation” in 2024

As the automotive industry reflects on the challenges of 2023, opinions among auto experts diverge on whether 2024 should be designated as the “Year of Localisation” for sustainability. While some advocate for a collective commitment from Original Equipment Manufacturers (OEMs) to invest in local production and technology, others argue for a more globally integrated approach. Speaking to The Ex

Industrialists denounce banking laws

Industrialists have demanded that the government provide a level-playing field to all players of the local industry aimed at bolstering economic growth. They slammed the prevailing banking laws, mentioning the unilateral focus on interest recovery and discretionary powers that primarily benefitted banks and lending institutions. Despite entrepreneurial efforts to expand businesses, many find th

Industrialists denounce banking laws

Industrialists have demanded that the government provide a level-playing field to all players of the local industry aimed at bolstering economic growth. They slammed the prevailing banking laws, mentioning the unilateral focus on interest recovery and discretionary powers that primarily benefitted banks and lending institutions. Despite entrepreneurial efforts to expand businesses, many find th

Banks seek 16.6% interest on PIA loan

Commercial banks have demanded a fixed annual interest rate of 16.6% for deferring recoveries of their Rs281 billion loans to Pakistan International Airlines for five years, a demand Finance Minister Dr Shamshad Akhtar has refused to accept. Akhtar has made a counterproposal to give around 10% interest on the Rs281 billion loans, based on the banks’ actual cost of borrowing, according to source