This drop represents a 2.15% decline from yesterday’s all-time high of 81,839 points. Yesterday, PSX surged to new heights, gaining 684 points to close at an all-time high of 81,839 points. This remarkable 0.84% increase from the previous close of 81,156 points showcases a bullish momentum in the market. PSX hits fresh peak on IMF […]
The KSE-100 index gained 684 points to close at an all-time high of 81,839 points, a new historical high. Meanwhile, the market capitalization increased by Rs. 23 billion, with 454 million shares traded. A total of 241 companies witnessed an increase in their shares, while 155 companies saw a decline. Earlier on Monday, the KSE-100 […]
The Shehbaz Sharif-led government and the IMF reached a three-year, $7 billion aid package deal on Saturday, providing much-needed respite to the nation. This agreement marks a critical step towards stabilizing Pakistan’s economy, which has been under severe strain. Moody’s commented that the new IMF programme would enhance Pakistan’s (Caa3 stable) funding prospects. However, Moody […]
The new program, which needs to be validated by the Fund’s Executive Board, should enable Pakistan to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth,” according to a statement. The agreement is subject to approval by the IMF’s executive board. “The program aims to capitalize on the hard-won macroeconomic stability […]
International Monetary Fund (IMF) officials held virtual negotiations with the provincial officials of Pakistan for the new loan program. Sources said the IMF officials urged the provincial authorities to slap a tax on agricultural income, which the provinces of Pakistan reportedly agreed upon. The provincial governments of all four provinces of Pakistan sought time to […]
According to sources, Pakistan and the International Monetary Fund held virtual talks on the efforts made in the budget to meet the conditions. The IMF was briefed on Pakistan’s measures to increase gas prices and other economic decisions in the budget, sources added. Sources indicated that negotiations for a new loan program are underway, and […]
The meeting was presided over by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at the Finance Division, according to a press release issued here. The meeting was attended by the Minister for Petroleum Musadik Masood Malik, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of State for Finance & Revenue Ali Pervez […]
Pakistan hopes to secure a new IMF loan program in July as the budget 2024-25 prepared under IMF conditions has also been approved, fulfilling one of the major requirements set by the international lender. Sources indicate that the government is continuing to meet other conditions set by the IMF. Work is underway to increase the […]
The National Assembly (NA) yesterday approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion. According to sources, the IMF wants Pakistan to hike the electricity and gas rates from July 1 and immediately implement the NEPRA decision regarding the increase in gas and power tariffs. IMF also demanded […]
Minister for Finance and Revenue Muhammad Aurangzeb moved the motion for consideration of the Finance Bill, 2024 to give effect to the financial proposals of the federal government for the year, commencing on July 1, 2024. The motion was passed with a majority vote which led to the passage of Finance Bill-2024 after clause-by-clause reading […]
