Express
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Power generation hits 33-month low | The Express Tribune
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[ad_1] KARACHI: Power generation in Pakistan plummeted to a 33-month low, reaching 7,547 Gigawatt-hours (GWh) in November 2023. This decline was attributed partly to the onset of the winter season and, more significantly, to the overall economic slowdown in the country. The dip in power generation has intensified the burden of capacity payments on end-consumers.…
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Auto financing slows down over high costs | The Express Tribune
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[ad_1] KARACHI: Auto financing continued to decline for the 17th consecutive month in November, falling 2.6% to Rs257 billion amid exorbitant cost of financing and significant increase in car prices over the past one and a half year. Auto financing had stood at Rs264 billion in October 2023 and Rs340 billion in November last year.…
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Pakistan, ADB ink $1.2b loan deals | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the Asian Development Bank (ADB) have signed six loan agreements worth $1.2 billion, with one-third of it to be disbursed as budget financing, reopening choked financing pipelines after reaching a deal with the International Monetary Fund (IMF). The loan agreements were signed by the Economic Affairs Division (EAD) and the local…
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PSX nosedives by over 2,000 points | The Express Tribune
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[ad_1] KARACHI: The Pakistan stock market plunged by over 3.4% or over 2,200 points, slipping below 63,000 points during the late trading hours on Tuesday, as the drive for profit-taking turned into panic selling on uncertainty related to the forthcoming general elections. In the past two days, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index cumulatively…
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‘US investment terms beneficial’ | The Express Tribune
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[ad_1] KARACHI: A high official of the United States has emphasised that the US and Pakistan have a “very strong” relationship and they have entered a new chapter of cooperation and development. In an interview with The Express Tribune, US Principal Deputy Assistant Secretary and Deputy Assistant Secretary responsible for Pakistan, South and Central Asia,…
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$6.4b in loans received in 5 months | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan secured $6.4 billion in foreign loans during the first five months of the current fiscal year, which was equal to one-fourth of the revised annual requirement, amid hopes for a surge in disbursement in the coming weeks on the back of some “bullet borrowing”. The Economic Affairs Division (EAD) reported on Monday…
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Pakistan records $9m current account surplus in Nov | The Express Tribune
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[ad_1] KARACHI: Pakistan’s balance of current account recorded a surplus of $9 million in November 2023 after remaining in deficit in the first four months (July-October) of the current fiscal year 2023-24, suggesting that the country’s capacity to make international payments has improved in recent times. State Bank of Pakistan (SBP) reported on Monday the…
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The dream of 200% growth in textile exports | The Express Tribune
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[ad_1] KARACHI: Pakistan continues to grapple with the challenge of weak exports. This has had an adverse impact on the nation’s trade balance, current account, and foreign exchange reserves. The modest scale and sluggish growth of exports are major factors driving the country to frequently seek International Monetary Fund (IMF) bailouts. Pakistan’s export profile is…
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Shariah-compliant counter at PSX | The Express Tribune
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[ad_1] KARACHI: The potential of attracting Shariah-compliant investors to the Pakistan Stock Exchange (PSX) was witnessed once again with massive participation in Pakistan’s first listed government Ijarah Sukuk issuance. Against the auction target of Rs30 billion set by the Ministry of Finance, the bids received from retail and institutional investors were over Rs396.2 billion and…
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Cabinet explores intl best practices | The Express Tribune
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[ad_1] ISLAMABAD: In response to past disputes and international legal challenges faced by Pakistan, cabinet members are advocating for a comprehensive study of global best practices to instil confidence in investors regarding the security of their investments in the country. This move comes in light of previous legal conflicts between foreign companies and the Pakistani…
