The Pakistani rupee maintained positive momentum against the US dollar, appreciating 0.06% during the opening hours of trading in the inter-bank market on Friday. At 10am, the currency was hovering at 281.10, a gain of Re0.17 against the greenback. On Thursday, the local unit closed at 281.27. Globally, the yen edged lower on Friday, trimming its sharpest weekly gain in more than four mon
Positive momentum persisted at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index hovering near the 166,000 level during the opening hours of trading on Thursday. At 10:20am, the benchmark index was hovering at 165,912.81, an increase of 272.48 points or 0.16%. Buying interest was observed in key sectors, including automobile assemblers, commercial banks, oil and gas explora
The Pakistan Stock Exchange (PSX) closed at a record high on Wednesday, settling above 165,500 points despite significant volatility. The benchmark index reached a new intraday high of 166,522 before experiencing a sharp fluctuation. Following a strong rally, the market experienced heavy selling pressure, causing the index to decline by as much as 1,338 points. However, the market ended with a
The government’s Rs1.225 trillion syndicated financing deal with 18 banks — the largest in Pakistan’s history — is being trumpeted as a landmark move to ease the power sector’s crippling circular debt. Tied to an existing surcharge on electricity bills, the cashflow-backed plan is touted as a step towards fiscal stability and energy sector reform. Yet critics and supporters warn that, without deep
Finance Minister Muhammad Aurangzeb on Wednesday said that talks with the International Monetary Fund (IMF) were headed in the “right direction”. An IMF mission led by Iva Petrova held a formal kick-off meeting with Pakistan’s economic team to review the implementation of the EFF and RSF. The programme’s performance as of the end of June this year — the period under review — has been mixed.