Stocks dipped on Thursday as political instability pushed down the benchmark index of the Pakistan Stock Exchange to an intraday low of 422.02 points. Arif Habib Ltd said the KSE-100 index opened in the green, but the momentum dissipated quickly owing to rising political temperature amid the expected arrest of former prime minister Imran Khan. Investors’ participation remained varied, with thir
The mid-year United Nations survey on the world economic situation forecast that the inflation rate in Pakistan is expected to remain in double digits in the coming months owing to weakening local currency and supply-side constraints. Domestic food inflation remains elevated due to country-specific factors, challenging food security across the South Asian region, particularly in Afghanistan, Ba
Once again the dollar breached the Rs300-barrier in the open market on Wednesday, widening the exchange rate differential to over Rs14 compared to the interbank market. Currency dealers said the shortage of dollars was the main reason for the price hike, however, other factors also influenced the exchange rate in the open market. The dollar was traded as high as Rs301 in the open market whil
The Securities and Exchange Commission of Pakistan (SECP) is formulating laws to convert all non-banking financial services, including the capital market, insurance sector, leasing and savings funds, to Sharia-compliant mode. However, a weak understanding of tax authorities and banking channels is one of the key impediments in this regard to meeting the Federal Shariat Court’s directive of conv
Pakistan’s exports to the Middle East shrank 14.18 per cent year-on-year to $1.912 billion in the first 10 months of FY23, mainly driven by a substantial decline in exports to the United Arab Emirates. The exports to the region saw a mixed trend with an increase to Saudi Arabia, while a decline to other countries of the region, data compiled by the State Bank of Pakistan showed on Thursday.