The State Bank finds itself in a dilemma over the interest rate as on one hand the business community is clamouring for a cut of 500 basis points in one stroke, but on the other multinational companies are advising caution. According to Ehsan Malik, the CEO of Pakistan Business Council (PBC), “the Monetary Policy Committee (MPC) of the State Bank is likely to maintain a cautious approach and le
Amid the high possibility of no further cuts in the interest rate, investors made a total of Rs2.207 trillion bids, mostly for the long-term tenors, with no change in the cut-off yields at the treasury bills (T-bills) and Pakistan Investment Bonds (PIBs) auctions on Wednesday. Announcing the results of the auctions, the State Bank of Pakistan (SBP) reported that the government raised a total of
The retail price of sugar has surged to Rs170 per kg in Karachi, Lahore, and Islamabad due to a rise in wholesale rates amid strong demand in Ramazan. Retailers in Karachi feared that the price may hit Rs200 if a bullish trend persists in the wholesale market. However, wholesalers blame millers for increasing the rates. In a week, the wholesale rate swelled by Rs15 to Rs155 per kg in Karachi.
Prime Minister Shehbaz Sharif on Wednesday met an eight-member delegation from the International Free Zones Authority (IFZA) of the United Arab Emirates and the Aleria Group. The premier also witnessed a memorandum of understanding (MoU) exchanged between IFZA and the Board of Investment. “The government is taking steps on a priority basis to provide a business and investment-friendly enviro
Pakistan’s industrial sector is paying almost double the electricity prices compared to China, India and the United States, and even higher than the European Union, adversely impacting its export competitiveness. According to the latest ‘Electricity 2025 — Analysis & Forecast to 2027’ report by the Paris-based International Energy Agency (IEA), the average 2024 electricity rates in the United S