Prime Minister Shehbaz Sharif on Wednesday expressed the hope that the $3 billion short-term bailout for the country would be given final approval by the International Monetary Fund board when it meets on July 12 and vowed to fulfil all commitments made to the lender. Speaking at a ceremony in Islamabad to commemorate 10 years of the China-Pakistan Economic Corridor (CPEC), the premier poi
KARACHI; The domestic debt of the central government increased by Rs6 trillion in the first 11 months of the outgoing FY23. Data issued on Wednesday by the State Bank of Pakistan (SBP) revealed that the PMLN-led government heavily relied upon borrowing to bridge the gap between its high spending and low revenues. According to the SBP data, the domestic debt of the central government rose to
Investors at the Pakistan Stock Exchange booked profits on Tuesday following a historic bull run a day ago. Topline Securities said the stock market saw some buying in the early trading hours. However, investors opted to offload some of their positions, which led to the KSE-100 index losing some ground. In fact, profit-taking pulled the representative index down to the negative territory, it ad
THE sceptics may have their doubts about a ‘miracle turnaround’ in Pakistan’s fortunes after the government grabbed a last-minute stand-by loan from the IMF, but the markets have been quick this week to cash in on the euphoria. The dollar fell sharply once trading resumed after the holidays, collapsing like a punctured balloon; stock market activity heated up like it had not in years, with spec
The shortage of cash rupee due to the bank holidays provided an opportunity to several money changers to buy the dollar on their own available rates, which was in the range of Rs275 to Rs285 on Monday, currency traders said. The first day trading of the open market after Pakistan’s Standby Agreement (SBA) with IMF for $3 billion created sense of economic stability with better price of the rupee