Finance Minister Ishaq Dar on Sunday said Pakistan will not seek debt restructuring from Paris Club creditor nations, as he seeks to restore market confidence after a credit rating downgrade. The new rating from Moody’s raised concerns that Pakistan could default on its foreign debt as the country contends with economic turmoil and a balance of payments crisis. “We have decided not to go to
The rupee continued to show recovery in the interbank market on Monday, extending its gains against the dollar by more than Re1 in the early morning session. According to the Forex Association of Pakistan (FAP), the dollar was being traded at Rs218.45 around 9:50am, with the rupee appreciating Rs1.47, or 0.67pc, against the last session’s close of Rs219.92. FAP Chairperson Malik Bostan attri
Net profit of Pakistan Stock Exchange Ltd for 2021-22 amounted to Rs398.7 million, down 42.7 per cent from the preceding year. A regulatory filing on Thursday showed the company’s annual revenue decreased 0.7pc to Rs1.4 billion. It didn’t declare any dividend. Meanwhile, Murree Brewery announced on Thursday its net income for 2021-22 which stood at Rs1.29bn, almost unchanged from a year ago.
THE resumption of the IMF package, that was badly needed to avert an external payments crisis, has reignited passions. As most countrymen wrestle with the question of whether or not the Fund is a tool of neocolonialism to keep countries like Pakistan sedated and subservient, what is lost in the debate is why we always wind up at its door. Let’s take a peek. Energy is the relevant sector to get
The State Bank of Pakistan has assured the business community of clearing all backlog import-related payments of less than $50,000 within two days, said a statement issued by the Federation of Pakistan Chambers of Commerce and Industries (FPCCI) on Wednesday. Sharing this breakthrough with trade and industry, FPCCI President Irfan Iqbal Sheikh said the central bank had agreed to clear or settle