Equities underwent yet another bullish session on Wednesday with the benchmark index crossing the 45,500-point psychological barrier. Topline Securities said the much-awaited vote at the board meeting of the International Monetary Fund (IMF) on Pakistan’s $3 billion bailout package helped improve sentiments. Investors opted for strengthening their equity positions by putting more money ahead o
MANY years ago, I was asked the following question: is it true that when a country gets onto an IMF programme it is never able to exit and remains in the ‘clutches’ of the lender forever? The answer was obvious: ‘no, it is not true’. And then came the inevitable follow-up remark: ‘I’ve heard otherwise, somebody was telling me it is true.’ There is no debating or conversing with people like this
THERE is no bigger threat to Pakistan’s macroeconomic and financial stability than climate shocks. Around this time last year, we were hit by floods costing $30 billion that have derailed economic growth and development. This sad fact was not lost on the International Monetary Fund (IMF). It has now integrated climate risks as a touchstone in all its lending operations. The staff-level Stand-by
Pakistan is negotiating to buy a second shipment of discounted Russian crude oil, Petroleum Minister Musadik Malik said on Wednesday, highlighting the success of a first deal in helping the cash-strapped nation. Malik told reporters there was no scenario under which the country was “not benefiting” from Russian crude. “We are finalising another cargo,” he said. Malik said the first cargo
Commerce Minister Syed Naveed Qamar on Wednesday stressed the need for collective efforts to enhance pharmaceutical exports to over $5 billion by 2030. Speaking at the sixth Pakistan Pharma Summit and Pharma Export Summit and Awards (PESA) 2023, the minister outlined the government’s plans to significantly increase pharmaceutical exports. The event, organised by the Pakistan Pharmaceuti