Acting upon the old adage of “buy on rumours, sell on news,” investors on Thursday offloaded their positions following a long bull run ending with the receipt of $1.2 billion from the International Monetary Fund (IMF). Topline Securities said the IMF news helped the benchmark index make an intraday high of 456 points before closing in the red territory. Data from National Clearing Company sh
Finance Minister Ishaq Dar said on Thursday that the International Monetary Fund (IMF) had transferred $1.2 billion to the central bank’s account. He made the remarks while addressing the media a day after the global money lender approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled economy. The board approved the bailout package for the country for an
Identifying barriers to competition, a study by the Competition Commission of Pakistan has found that no access to financing is the key barrier limiting the growth of small and medium enterprises (SMEs). The study titled ‘Enhancing Economic Efficiency of SMEs in Pakistan’ has noted that despite policy measures to increase financing to 17 per cent, the SME sector only receives 6-7pc of private
After a steep rise in wheat flour and sugar rates, consumers brave another challenge of paying more than double for various vegetables, while pulses despite a drop in wholesale rates being retailed at higher prices. For example, turrai (ridge gourd), lokki (bottle gourd) and karela (bitter gourd) prices have surged to Rs200 per kg from Rs80-100 a few days back, followed by bhindi (okra) Rs300 f
Large-Scale Manufacturing (LSM) experienced a significant year-on-year contraction of 14.37 per cent in May, showed data released by the Pakistan Bureau of Statistics on Thursday. This marks the ninth consecutive month of decline for the country’s major industries during the outgoing FY23. The primary reason behind this decline can be attributed to a slowdown in the production of export-oriente