PSX hits fresh peak on IMF deal | The Express Tribune
Pakistan Stock Exchange (PSX) skyrocketed to an all-time high on Monday in a robust rally driven primarily by Pakistan’s agreement with the International Monetary Fund (IMF) on a $7 billion Extended Fund Facility (EFF) at the weekend as well as the ongoing earnings season. The day commenced with a spike in the KSE-100 index, which […]
SBP forex reserves reach over $9bn fuelled by fresh IMF tranche
An undated image of a currency dealer holding a stack of $100 notes. — AFP/File KARACHI: After a recent inflow of $1.1 billion from the International Monetary Fund (IMF), the State Bank of Pakistan’s (SBP) foreign exchange reserves have risen to over $9 billion. The SBP issued a statement on Thursday on the current position […]
China expects fresh consumption record with 9b trips in world’s largest migration
Travelers at the Hongqiao Railway Station ahead of Lunar New Year in Shanghai, on Jan. 23. — Bloomberg China is anticipating a fresh consumption record as it braces for the world’s largest annual human migration. The upcoming Spring Festival travel rush, known as chunyun, is set to witness a staggering 9 billion passenger trips, painting […]
Value chain(ed): a fresh and objective look | The Express Tribune
ISLAMABAD: It has become almost a cliche to say that we need to focus on value addition in all of the economic activities and we should become part of the regional or global value chains. While the concept has its own merits, and more importantly, the enabling factors and prerequisites, we should have a fresh […]
IMF seeks fresh report on state-owned enterprises losses
A view of the IMF headquarters. — AFP The International Monetary Fund (IMF) has sought from the Finance Ministry a fresh report on losses incurred by state-owned enterprises, sources told Geo News on Monday. According to the sources, the global fund’s mission — currently visiting Pakistan to review the loan tranche — has refused to […]
TDAP ‘optimistic’ of UAE resuming import of fresh chilled meat by sea from Pakistan
Trade Development Authority of Pakistan logo. — Facebook/TDAP The Trade Development Authority of Pakistan (TDAP) is “optimistic” that the United Arab Emirates (UAE) will resume the export of fresh chilled meat from Pakistan and find an amicable resolution on the issue. In a statement issued on Thursday, TDAP said that it is “actively addressing the […]
Minority investors dismayed as fresh events spark controversy at K-Electric
A representational image of K-Electric logo. — Twitter/File LONDON: Several minority investors in Karachi Electric (K-Electric) are disgruntled and “extremely furious” with the way the process has been handled by Infrastructure and Growth Capital Fund (IGCF) and its newly-revealed controlling directors, according to people close to the matter and dealing directly with it. The development […]
Ishaq Dar opposes idea of coalition govt entering fresh IMF programme
Finance Minister Ishaq Dar speaks while presenting the Pakistan Economic Survey for fiscal year 2022-23, in Islamabad on June 8, 2023. — AFP Finance Minister Ishaq Dar has opposed the idea of the incumbent government entering a fresh bailout programme and assured that he would not support the proposal if it is floated in the […]
Foreign exchange reserves decline to $4.09bn as Pakistan considers fresh IMF deal
$100 bills. — AFP/File Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased to $4.09 billion as the liquidity-challenged country mulls starting a fresh bailout programme with the International Monetary Fund (IMF) programme without completing the current one. In a statement, the SBP said its reserves have fallen $102 million as […]
‘IMF did not seek fresh financing of $8bn from Pakistan’
IMF headquarters in Washington. —AFP/File ISLAMABAD: The International Monetary Fund (IMF) on Sunday denied local media reports that it was seeking fresh financing of $8 billion from Pakistan for the revival of the $6.5 billion bailout package. IMF Resident Representative in Pakistan Esther Pérez Ruiz said that the global lender did not demand an $8 billion […]