The disbursement of microfinance loans increased 13.7 per cent in April-June on a quarterly basis after flat-lining in the preceding three-month period. Micro-loan disbursals in the second quarter of 2022 totalled Rs153.1 billion, up from Rs134.7bn in the first quarter of 2021, the latest data released by the Pakistan Microfinance Network (PMN) shows. However, the increase was 38.5pc on a year
The government was committed to placing the economy on a sustainable and inclusive growth path, Finance Minister Ishaq Dar told the World Bank’s country director on Saturday. The two met in Islamabad on Saturday, where Mr Dar briefed Najy Benhassine about the economic challenges facing Pakistan after floods and said the government was aware of these issues and “taking pragmatic steps to resolve
Finance Minister Ishaq Dar on Sunday said Pakistan will not seek debt restructuring from Paris Club creditor nations, as he seeks to restore market confidence after a credit rating downgrade. The new rating from Moody’s raised concerns that Pakistan could default on its foreign debt as the country contends with economic turmoil and a balance of payments crisis. “We have decided not to go to
The rupee continued to show recovery in the interbank market on Monday, extending its gains against the dollar by more than Re1 in the early morning session. According to the Forex Association of Pakistan (FAP), the dollar was being traded at Rs218.45 around 9:50am, with the rupee appreciating Rs1.47, or 0.67pc, against the last session’s close of Rs219.92. FAP Chairperson Malik Bostan attri
Net profit of Pakistan Stock Exchange Ltd for 2021-22 amounted to Rs398.7 million, down 42.7 per cent from the preceding year. A regulatory filing on Thursday showed the company’s annual revenue decreased 0.7pc to Rs1.4 billion. It didn’t declare any dividend. Meanwhile, Murree Brewery announced on Thursday its net income for 2021-22 which stood at Rs1.29bn, almost unchanged from a year ago.