Tribune
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SBP maintains record high policy rate | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has announced its decision to keep the benchmark policy rate unchanged at a record high of 22% for the next six weeks, as it projects a moderate economic growth range of 2-3% for the current fiscal year 2024. SBP Governor Jameel Ahmad, speaking at a press conference…
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SBP keeps key policy rate unchanged at 22% | The Express Tribune
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[ad_1] KARACHI: The central bank on Monday announced that the key policy rate – the cost of banks’ lending – would remain unchanged at 22 per cent. Notably, in its first meeting after a new loan programme by the IMF, the SBP was scheduled to review its key policy rate today. It was to assess whether…
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PSX surges over 1000 points over Gulf investment optimism | The Express Tribune
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[ad_1] KARACHI: The Pakistan stock market soared by over 2%, or over 1,000 points, to a two-year high at 48,000 points in early trading on Monday. Pakistan Stock Exchange (PSX) has maintained the powerful rally over “optimism of investment from Saudi Arabia and UAE along with the Pakistan Mineral Summit helping investors confidence,” Topline Securities CEO Muhammad…
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Prospects of expanding solar PV capacity | The Express Tribune
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[ad_1] ISLAMABAD: The government has ambitious programmes for installing solar PV capacities. Fossil-based electricity is expensive, has availability issues and requires foreign exchange, which we don’t have. Current load-shedding is also due to the lack of foreign exchange to buy fuel than the generation or transmission capacity. So, the idea of expanding solar appears to…
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Oil dips but on track for fifth week of gains | The Express Tribune
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[ad_1] NEW YORK: Oil prices edged lower on Friday, but were on track for a fifth straight week of gains as investors were optimistic that healthy demand and supply cuts will keep prices buoyant. Risk appetite in wider financial markets has been fuelled by growing expectations that central banks such as the US Federal Reserve…
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Central bank to review policy rate next week | The Express Tribune
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[ad_1] KARACHI: In its first meeting post-IMF new loan programme, Pakistan’s central bank is scheduled to review its key policy rate, the cost of banks’ lending, on Monday. It will assess whether it remains appropriate at the current historical high level of 22% to curb inflation and support economic growth or if the rate requires…
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PSX prepares for tech powerhouse IPO | The Express Tribune
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[ad_1] KARACHI: Excitement is brewing at the Pakistan Stock Exchange (PSX) as the first company of fiscal year 2024 is set to join its main board next month. Summetry Group, a dynamic tech company, has announced plans to raise a minimum equity of Rs430.27 million by offering 101.24 million shares to institutional and individual investors.…
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Govt allows imports for EPZs | The Express Tribune
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[ad_1] ISLAMABAD: In a strategic move to expedite the development of Export Processing Zones (EPZs) and achieve ambitious export targets, the Pakistani government has taken a momentous step by allowing the import of construction material from tariff areas into EPZs in the northern region and all future EPZs. The new policy will enable transactions to…
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Rupee rebounds, reaches Rs286.45/$ | The Express Tribune
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[ad_1] The Pakistani currency continued its impressive recovery for the second consecutive working day, gaining 0.21% or Rs0.59, against the US dollar in the interbank market on Thursday, reaching Rs286.45. This surge comes after Finance Minister Ishaq Dar announced that China’s EXIM Bank has rolled over loans worth $2.4 billion, originally due for repayment in…
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Forex reserves decline by $541m | The Express Tribune
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[ad_1] KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) experienced a significant decline, dropping 6.2% on a week-on-week basis, as reported on Thursday. The reserves reached $8.2 billion on July 21, marking a decrease of $541 million compared to $8.73 billion on July 14, 2023. The central bank attributed this decline…
