A substantial downturn at the PSX can be attributed to escalating leverage costs and mounting political risks, compelling investors to hastily offload shares. The surge in leverage, measured by futures open interest, margin trading, and financing, hit a two-year high at Rs40 billion, a substantial increase from Rs14.3 billion in June.
Macro
World Bank approves $350 million loan for Pakistan’s economic reforms
By Staff Reporter
ISLAMABAD: The World Bank said its board of executive directors approved a $350 million loan for Pakistan to support the country’s efforts to improve fiscal management and boost competitiveness.
Fitch affirms Pakistan at CCC, warns of funding risks and election uncertainty
By Staff Reporter
KARACHI: Pakistan’s credit rating was affirmed at CCC by Fitch Ratings on Wednesday, a level that indicates a substantial risk of default, as the country grapples with high external funding pressures and policy challenges ahead of a general election in February.
ADB says Pakistan’s debt burden, inflation limits recovery
By Staff Reporter
KARACHI: Pakistan’s public debt has risen to almost 80 percent of gross domestic product, limiting the country’s ability to recover from the inflation-induced slowdown, the Asian Development Bank said on Wednesday.
Policy rate steady at 22pc as central bank sees inflation declining ahead
The MPC believes the current monetary policy stance is appropriate to achieve the inflation target of 5-7 percent by the end of FY25, although this assessment is contingent upon continued fiscal consolidation and timely realisation of planned external inflows. By Muhammad Ali.
Photo courtesy PSX
Retail investors snap up Pakistan’s debut listed sukuk at 19.52pc yield
By Staff Reporter
KARACHI: Pakistan’s first auction of a one-year listed domestic sukuk, or Islamic bond, was oversubscribed by more than 15 times on Friday, as retail investors flocked to the sharia-compliant debt instrument that offers a higher return than conventional bonds.
IMF board to meet on Jan 11 to release $700 million for Pakistan
By Staff Reporter
KARACHI: Pakistan secured a date for the final approval from the International Monetary Fund to receive the next $700 million tranche from its current loan program, a spokeswoman said on Thursday, as the country faces Asia’s highest inflation and a looming debt crisis ahead of a crucial election.
Pakistan economy to grow 2.1 percent in 2024, IMF aid key: Bloomberg
By Staff Reporter
KARACHI: Pakistan’s economy is poised to rebound from a contraction in the current fiscal year and expand 2.1 percent in 2024, aided by easing supply bottlenecks, lower interest rates, and continued support from the International Monetary Fund, according to a Bloomberg economist.
ADB lends $658.8 million to Pakistan for growth, education, food
By Staff Reporter
KARACHI: The Asian Development Bank (ADB) has approved three projects worth $658.8 million to help Pakistan achieve its goal of more inclusive and sustainable growth and development, the bank said on Wednesday.
Pakistan faces delay in accessing $700 million tranche amid busy IMF board schedule
By Staff Reporter
ISLAMABAD: Pakistan is waiting for the International Monetary Fund (IMF) to approve the first review of its $3 billion Standby Arrangement (SBA) and release the second tranche of $700 million, but the IMF’s executive board is unlikely to take up the case until mid-December.