The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) has dismissed an appeal filed by VIS Credit Rating Company Ltd against the penalty imposed for multiple regulatory violations of Credit Rating Companies Regulations 2016. The appeal challenged the SECP’s order dated Oct 16, 2019 passed by Commissioner SMD under Section 159 of the Securities Act 2015, which
The foreign exchange reserve of the State Bank increased by $27 million to $11.249 billion during the week ended on Feb 28. The SBP did not specify the sources of this inflow, but it is widely understood in the market that it has been purchasing dollars from the interbank market. The SBP is trying to maintain its reserves to reach the target of $13bn by the end of FY25. An IMF mission is cur
While urging quick decisions to arrest the sliding export patterns, textile leaders on Thursday asked Finance Minister Muhammad Aurangzeb to order the prompt release of pending refunds of Rs329.5 billion. A delegation of the All Pakistan Textile Mills Association (Aptma), led by Chairman Kamran Arshad, apprised the finance minister of the challenges confronting textile exporters and ca
Following the recent visits of ‘President Trump’s advisers for digital assets’, the Ministry of Finance appears to have left the Ministry of Science and Technology high and dry over its months-long endeavour to be the custodian of virtual assets and cryptocurrencies. Sources told Dawn that the Ministry of Science, under Dr Khalid Maqbool Siddiqui, has been coordinating with a working group of a
After breaking a four-session losing streak overnight, the stock market on Wednesday struggled as investor sentiment remained mixed due to a lack of positive triggers, forcing the benchmark KSE 100 index into the red zone on late profit selling. Topline Securities Ltd said the stock market had a range-bound session, with the benchmark index moving between a high of 583 points and a low of 598