PES 2022: Ballooning balance of payment deficit dampens Pakistan’s growth story – Business

Finance Minister Miftah Ismail released the 2021-22 Pakistan Economic Survey (PES), showing a growth rate of 5.97% compared to the target of 4.8%. However, the growth story of this country, which recovered from the pandemic during economic downturn and maintained a V-shaped recovery with real GDP growth of 5.97%, contracted in the face of a … Read more

At pre-budget huddle, PM Shehbaz stresses need for charter of economy – Business

Prime Minister Shehbaz Sharif on Tuesday stressed the need for an economic charter, saying all stakeholders must work together in formulating a framework to achieve economic growth. He made these remarks while speaking at a one-day pre-budget business conference hosted by the government to explore the path to consensus-based economic action. In his speech, the … Read more

Meteoric dollar shatters all records, closes at Rs200 – Business

Data from the Pakistan Foreign Exchange Association (FAP) showed that the US dollar closed at a surprising milestone of Rs200 in interbank trading on Thursday afternoon, moving up Re1.00 from the previous day’s close of Rs199. According to FAP data, the US currency reached an all-time high of Rs200.10 in the interbank market around 1:45pm … Read more

Another meltdown at PSX as benchmark plunges 1,000 points on govt’s indecision – Business

The Pakistan Stock Exchange (PSX) witnessed extreme selling pressure on Wednesday, with the benchmark KSE-100 index dropping nearly 1,000 points two days after losing nearly 1,500 points in intraday trading. According to the PSX website, the KSE-100 index started at 43,504.36 points. By 1 p.m., it fell nearly 1,000 points (2.28%) to 42,513.78 points. Raza … Read more

Miftah says govt willing to curb fuel subsidies – Business

Finance Minister Miftah Ismail promised on Friday that the International Monetary Fund would push for structural reforms to boost the economy in crisis as the International Monetary Fund agreed to a recommendation to cut fuel subsidies and end corporate tax exemptions. In 2019, the IMF approved a three-year loan of $6 billion to Pakistan, but … Read more

PSX registers relief rally, benchmark gains 657 points as end to political crisis in sight – Business

The benchmark KSE-100 index on the Pakistan Stock Exchange (PSX) registered a rally of relief on Friday and traded more than 700 points in intraday trading as political uncertainty persisted for days after the Supreme Court restored parliamentary results. has risen. . The market started off on a positive note, with the index rising nearly … Read more

Lahore-based coworking startup COLABS raises $3m in seed round – Business

COLABS, a Lahore-based startup that provides small businesses, entrepreneurs and freelancers the space and technology platform to build and grow their businesses, has raised $3 million in a seed round. Indus Valley Capital, Zayn Capital and Fatima Gobi Ventures led the round, and three Pakistan-focused venture capitalists (VCs) jointly invested in the startup. “This is … Read more