The International Monetary Fund (IMF) on Wednesday forecast Pakistan’s fiscal deficit — the gap between the country’s total resources and expenditures — for the current financial year at 7.6 per cent of GDP, almost 1.1pc higher than 6.5pc target set by the federal government. Even after taking into account Rs600bn cash surplus targeted by the Centre to come from provincial governments, the IMF
The benchmark of the representative shares rose for the seventh consecutive session in a broad-based rally on Tuesday. Arif Habib Ltd said the KSE-100 index breached the barrier of 48,000 points amid big moves in refinery stocks like Attock Refinery Ltd (7.5 per cent) and National Refinery Ltd (6.5pc). “The KSE-100 index can continue to move sharply higher while it holds (at) 47,900 points,
The Pakistan Stock Exchange (PSX) announced on Tuesday the names of the recipients of Top 25 Companies Awards for 2022. Fauji Fertiliser Company Ltd topped the list, according to a press release. Other top winners were Engro Corporation Ltd, Systems Ltd, Engro Fertilisers Ltd, Engro Powergen Qadirpur Ltd and Engro Polymer and Chemicals Ltd. Initiated by the exchange in 1978, the awards are g
Oil prices fell on Tuesday on easing concerns about potential supply disruptions from the battle between Israel and Hamas though traders remained watchful. Brent crude was down 47 cents at $87.68 a barrel as of 11:35 CDT (1635 GMT), while US West Texas Intermediate (WTI) crude fell 42 cents to $85.92 a barrel. Both benchmarks had fallen by more than $1 in earlier trade. “Today it’s more like
Pakistan Railways suffered a loss of over Rs55 billion during the last fiscal year (FY23) due to incompetence, irregularities, illegalities and bad governance. According to an audit conducted by the Auditor General of Pakistan (AGP) for the fiscal year 2022-23, the performance of the department, which used to seek help from the federal government to clear pays and pensions of its employees, was