By Staff Reporter
KARACHI: The foreign exchange reserves climbed to the highest level in four months, bolstered by official inflows from lenders and allies, easing pressure on the country’s balance of payments.
Economy
‘Debt burden and inflation weigh on Pakistan’s economy’
By Staff Reporter
ISLAMABAD: The finance ministry said on Wednesday that the country faced a persistent challenge of high debt payments, as the government’s current spending soared by 44 percent in the first four months of the fiscal year, driven by a surge in interest costs.
Government borrows more than double from banks despite IMF, bilateral loans
By Staff Reporter
KARACHI: The government has borrowed more than twice as much from banks in the first half of the current fiscal year as it did in the same period last year, as it struggles to cope with soaring inflation and debt servicing costs, central bank data showed.
Exports surge 33pc in December, boosting trade balance
By Staff Reporter
ISLAMABAD: The trade sector posted a significant improvement in the first 20 days of December, with exports rising by 33.1 percent and imports falling by 12.8 percent year-on-year, the Ministry of Commerce said.
Stocks suffer worst fall in history as investors flee amid political chaos and IMF fears
By Staff Reporter
KARACHI: Stocks plunged more than 4 percent on Tuesday, posting their biggest single-day drop in history, as investors dumped shares amid political uncertainty and reports of a possible IMF intervention in the country’s circular debt crisis.
Pakistan mulls massive drive to nab tax dodgers
Pakistan’s abysmal tax compliance rate has been a constant source of worry for the authorities, but the problem has remained too hot to handle for successive governments. That may be about to change under the caretaker government headed by PM Anwar-ul-Haq Kakar. By Muhammad Ali.
Nepra approves quarterly adjustments for power tariffs, K-Electric hit hard
By Staff Reporter
KARACHI: The power regulator on Wednesday approved an increase in electricity tariffs for consumers across the country, including those of K-Electric Ltd., the main supplier in the largest city Karachi.
Is the bull market over?
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.
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.
Gasoline, diesel prices lowered by 4 percent
By Staff Reporter
KARACHI: The interim government cut gasoline and diesel prices by more than 4 percent for the second half of December, as global oil prices fell, and the local currency strengthened.