Banks, energy, cement, auto stocks lead gains as investor confidence remains firm The Pakistan Stock Exchange (PSX) kicked off the trading week with solid gains on Monday, as strong buying in banking, energy, cement and auto stocks lifted the benchmark KSE-100 Index by over 1,500 points. After opening on a positive note, the market maintained…
Islamabad must prepare to respond via better documentation, cleaner institutions and financial credibility KARACHI: The appointment of Vivek Aggarwal as incoming Vice-President of the Financial Action Task Force (FATF) has been read in some quarters as if India has acquired a switch over Pakistan’s financial reputation; that reading is convenient and it is also wrong….
ISLAMABAD: Pakistan’s policymakers routinely lament low investment, weak exports, declining industrial competitiveness and the high cost of doing business. Yet, while governments announce investment facilitation councils, export incentives and industrial support packages, they simultaneously erect new barriers that make economic activity more expensive and less efficient. Among the most neglected examples is the proliferation of…
Recent tax reforms announced by the finance minister of Turkiye are a game changer. With collaboration between the current government of President Recep Tayyip Erdogan, opposition political parties, think tanks, and the Istanbul Chamber of Commerce, a tax policy has been introduced to attract high-net-worth individuals and large corporate entities to relocate to Turkiye. The…
Reserves hit record highs but grocery bills keep climbing too; the numbers don’t add up KARACHI: Pakistan’s economic debate is often polarised between two sharply contrasting narratives. One presents a picture of stability and improvement – rising gross national product (GNP), record high foreign exchange reserves, and controlled inflation. The other paints a bleaker reality…
ISLAMABAD: During Prime Minister Shehbaz Sharif’s current visit, Turkiye’s Ministry of Trade has raised significant concerns regarding the methodology used by Pakistan’s National Tariff Commission (NTC) to determine the injury margin in its anti-dumping investigation of soda ash imports from Turkiye and Kenya. NTC’s deviation from its past practice amounts to providing undue protection to…
‘E20’ fuel faces rising criticism as govt says data shows no evidence of vehicle damage MUMBAI: Indian government and auto industry officials on Saturday defended the mandatory rollout of petrol blended with 20% ethanol, saying years of testing and service data showed no evidence of widespread vehicle damage, despite public concerns over lower fuel efficiency…
The report raised questions about the quality of spending, particularly in health and education sectors. Despite increased spending, the indicators in certain provinces worsened. photo:file ISLAMABAD: The World Bank has said that disparity in expenditures between a provincial capital and other districts remained far wide with Quetta receiving 475% more per person funds and Lahore…
KARACHI: The KSE-100 index of the Pakistan Stock Exchange (PSX) extended its winning streak, closing at 185,372 points with a weekly gain of 3.23%, or 5,801 points, as easing oil prices on the back of de-escalating US-Iran geopolitical tensions bolstered investor confidence. Brent crude softened to around $71.8 per barrel during the week. On a…
ISLAMABAD: Access to affordable housing finance is set to become easier for citizens, particularly underserved and non-banking segments, as the federal government has approved the inclusion of lending Non-Banking Finance Companies (NBFCs) as participating financial institutions under the Prime Minister’s Apna Ghar Programme. The Securities and Exchange Commission of Pakistan (SECP), recognising the potential of…