The benchmark KSE-100 index jumped 5.5 percent or 2,269 points in less than 10 minutes of its opening, breaching the 5 percent movement barrier that triggers a suspension of trading for an hour.
Economy
Pakistan’s new debt management strategy aims to reduce risk, diversify portfolio
The country plans to issue 10- to 15-year bonds and secure concessional loans to meet its external financing needs, as part of a new Medium-Term Debt Management Strategy for fiscal years 2023 to 2026 that aims to reduce risk and diversify its portfolio.
‘Pakistan’s IMF bailout could help avoid default’
By Staff Reporter
ISLAMABAD: Pakistan has secured a $3-billion, nine-month bailout from the International Monetary Fund (IMF) that will help it avoid default this year, Bloomberg Economics said.
Diesel gets costlier, petrol prices unchanged
By Staff Reporter
ISLAMABAD: Pakistan’s government raised the price of high-speed diesel by 3.1 percent on Friday, but left petrol prices unchanged, as global oil prices rose in the past two weeks.
UPADTE 3: Pakistan, IMF reach $3bn staff-level agreement for crucial bailout
By Staff Reporter
KARACHI: The International Monetary Fund (IMF) and Pakistan agreed on Friday to a $3 billion, nine-month loan agreement to help the country cope with external shocks and policy missteps that have stalled economic growth and fueled inflation.
UPDATE 2: Pakistan, IMF reach $3bn staff-level agreement for crucial bailout
By Staff Reporter
KARACHI: The International Monetary Fund (IMF) and Pakistan agreed on Friday to a $3 billion, nine-month loan agreement to help the country cope with external shocks and policy missteps that have stalled economic growth and fueled inflation.
UPDATE 1: Pakistan, IMF reach $3bn staff-level agreement for crucial bailout
By Staff Reporter
KARACHI: The International Monetary Fund (IMF) and Pakistan agreed on Friday to a $3-billion, nine-month loan deal to help the country cope with external shocks and policy missteps that have stalled economic growth and fuelled inflation.
Pakistan, IMF reach staff-level deal for $3 billion loan package
By Staff Reporter
KARACHI: Pakistan and the International Monetary Fund (IMF) have reached a $3 billion staff-level agreement for a crucial bailout that could help stabilize the country’s flailing economy and lift it out of an impending debt default.
PM Sharif forms Dar-led panel to revive PIA
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday appointed a committee led by Finance Minister Ishaq Dar to propose reforms for the loss-making national airline, Pakistan International Airlines (PIA).
Minister of State for Petroleum, Dr. Musadik Malik addressing a press conference at Lahore on June 28, 2023.
Pakistan’s new oil storage policy to curb hoarding, ease forex pressure
By Staff Reporter
ISLAMABAD: Pakistan will let foreign oil suppliers store crude and refined products in bonded facilities at its ports, a move that may ease the nation’s foreign exchange burden and prevent fuel shortages, the state minister for petroleum said on Wednesday.