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.
Economy
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.
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.
Norway’s Telenor exits Pakistan in $500 million deal with PTCL
By Staff Reporter
KARACHI: Norway’s Telenor Group said on Thursday it had agreed to sell its Pakistan telecoms business to Pakistan Telecommunications Company Ltd (PTCL) for 5.3 billion Norwegian crowns ($500 million) as part of its strategy to focus on core Asian markets.
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.
Saudi Aramco enters Pak fuel retail market with 40pc stake in GO
The Saudi energy giant’s entry into the Pakistani fuel retail market is a milestone for the company as well as the host country. By Muhammad Ali.
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.