Tag Archives: Pakistan economy

KSE-100 Index Dips Below 78,000 Amid Lack of Positive Market Triggers On Wednesday, the Pakistan Stock Exchange’s (PSX) KSE-100 Index continued its recent downward trend, closing marginally lower at 77,992.78, a decline of 91.45 points or 0.12%. Despite early gains, the index could not sustain its momentum, reflecting the broader market’s struggle to find positive triggers. The trading session began …

Introduction An official report from Pakistan’s Ministry of Economic Affairs has confirmed a critical shortfall in the government’s foreign funding efforts. The report, published on Tuesday, revealed that the government managed to secure only $426 million from international lenders in July, falling far short of the $9 billion in debt rollovers required to maintain financial stability. Debt Rollovers and IMF …

Pakistan Secures $436 Million in Foreign Loans During July 2024 In July 2024, Pakistan secured $436.39 million in foreign loans from various financing sources. This amount represents a sharp decline compared to the $2.890 billion borrowed in the same month of the previous fiscal year (FY24). The Economic Affairs Division (EAD) recently released data detailing the sources and amounts of …

Introduction Two Pakistani startups, DealCart and NayaPay, have earned a place on Forbes’ prestigious ‘Asia 100 to Watch 2024’ list, highlighting their innovative contributions to the e-commerce and fintech sectors. This recognition marks a significant achievement for the burgeoning tech scene in Pakistan and shines a spotlight on the country’s growing potential in the global market. DealCart: Revolutionizing Online Grocery …

Introduction The International Monetary Fund (IMF) has postponed the approval of Pakistan’s $7 billion bailout package, as it is not part of the IMF Executive Board’s agenda for the upcoming week. This delay adds to the uncertainty surrounding Pakistan’s efforts to stabilize its economy, which continues to struggle with significant financial challenges. IMF Executive Board Meeting Schedule The IMF’s Executive …

Introduction In a significant development, Saudi Arabia has made a strategic offer to acquire a 15% stake in Pakistan’s Reko Diq mining project, coupled with a substantial grant to build infrastructure around the mining area. This marks the first major investment under the Special Investment Facilitation Council (SIFC) framework and could pave the way for strengthened economic ties between the …

Introduction Pakistan finds itself in a state of economic inertia, where the usual state of affairs continues without any substantial efforts to initiate meaningful reforms. The conversations surrounding the annual budget and the IMF package may have faded from the public discourse, but the economic challenges remain as daunting as ever. Without concrete actions, the nation risks remaining a victim …

The federal government has decided to shut down the Utility Stores Corporation (USC) as part of its efforts to withdraw from non-essential business operations. This decision was disclosed by the Secretary of Industries & Production during a meeting of the Senate Standing Committee on Industries and Production on Friday. The announcement came in response to an inquiry from Senator Saifullah …

Introduction For the third consecutive fortnight, the prices of major petroleum products—petrol and high-speed diesel (HSD)—are anticipated to decrease by approximately Rs5-6 per litre. This reduction is primarily attributed to the declining international market rates for the fortnight commencing September 1. International Market Influences Informed sources have indicated that the prices of petrol and HSD have fallen in the international …

SBP to Replace All Currency Notes with Polymer by Year-End The State Bank of Pakistan (SBP) is set to introduce a significant change in the nation’s currency landscape. Governor Jameel Ahmad has announced that all currency notes will be replaced with new ones made from polymer paper by the end of this year. This announcement was made during a briefing …