Better-than-expected inflation reading for February provided a stimulus to the Pakistan Stock Exchange (PSX) to break the four-session losing streak as equity investors resorted to value-hunting, anticipating a more significant rate cut in the upcoming monetary policy review, propelling the benchmark KSE 100 index above 112,000 on Tuesday. Topline Securities Ltd said after enduring a bearish sp
A LUCRATIVE lease that saw the Roosevelt Hotel in downtown New York turned into a shelter for migrants may be drawing to a close, but with several options on the table and interested parties waiting in the wings, Pakistan’s interests seem to be secure. However, the property’s long-term fate is far from being settled. Property experts in New York say the three-year lease Pakistan Internationa
The government may need to implement a combination of revenue measures and fiscal tightening — primarily by curbing development spending — in the final quarter of the current fiscal year before securing the next $1.1 billion disbursement from the International Monetary Fund (IMF). Informed sources said that new fiscal measures, likely to take effect from April 1, could involve a three-pronged a
AN IMF delegation is in Islamabad to assess progress on the Fund’s ongoing $7bn funding programme amidst hopes that the review will not encounter any serious obstacles that could delay the next tranche. The mission will evaluate how Pakistan has done on quantitative performance criteria, structural benchmarks and indicative targets for the first half of the current fiscal year. There have been
Prime Minister Shehbaz Sharif on Tuesday underlined the need to plug Rs850 billion annual losses incurred by state-owned enterprises (SOEs), as well as the need to end circular debt in the power sector. The premier’s comments came while addressing a special meeting of his cabinet members at Islamabad’s Jinnah Convention Centre to review the government’s one-year performance. The Shehbaz adminis