Tag: IMF deal
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Pakistan’s ambitious FY25 Budget could secure IMF deal, says Fitch
On Tuesday, Fitch Ratings characterised Pakistan’s budget for the fiscal year 2024-25 as “ambitious,” noting that it enhances the likelihood of securing a deal with the International Monetary Fund (IMF).
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Pakistan Stock Exchange may surpass 60,000 level soon
The benchmark index of the Pakistan Stock Exchange (PSX) marked a record-breaking bullish run on Monday, closing just shy of the 60,000 mark without surpassing it.
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Army gets more land for ‘agriculture’
The Pakistan Army is set to start agriculture farming on 41,000 acres of land in South Waziristan’s Zarmalam area. Peshawar Corps Commander Lieutenant General Sardar Hasan Azhar Hayat has said that the army was determined to increase agricultural farming in Khyber Pakhtunkhwa, as per Geo News. Lt Gen Hayat said the army has prepared a…
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Pakistan’s stock market crosses 48,000 mark after two years
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index soared past the 48,000 mark, reaching a 24-month high, on Monday, as investors responded to recent positive economic developments in the country. Analysts predict that the prevailing positive sentiment is likely to continue in the coming days.
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Pakistan Stock Exchange surges to 21-month high as KSE-100 index crosses 47,000 mark
The Pakistan Stock Exchange witnessed a significant surge as the benchmark KSE-100 index surpassed the 47,000 milestone on Thursday, reaching its highest point in 21 months. This remarkable upswing was fueled by positive market sentiment following the recent International Monetary Fund (IMF) deal.
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‘Second green revolution’ promised by PM Shehbaz through Green Pakistan Initiative
After a series of moves aimed to protect Pakistan’s failing economy, including securing a crucial IMF deal, Prime Minister Shehbaz Sharif has now set his sights on supporting what he calls the backbone of Pakistan’s economy: the agricultural sector. Through his Green Pakistan Initiative, inaugurated on Monday, July 10, PM Shehbaz says 4 million jobs…
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Gold market bounces back with second consecutive price increase of Rs1,800 to Rs207,800 per tola
The price of gold in Pakistan has experienced a notable increase for the second consecutive session, following a prolonged period of decline subsequent to the $3 billion deal with the International Monetary Fund (IMF).
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Govt expected to hike gas prices by 50%, electricity by Rs4 per unit for IMF deal
“Pakistan is set to notify a significant increase in gas sale prices and electricity base tariffs for the fiscal year 2023-24 as part of an IMF deal. This move aims to pave the way for financial support and economic stability. Read on to learn more about the proposed energy price hikes and their implications for…
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IMF reaches $3 billion stand-by arrangement with Pakistan, averting impending default
The International Monetary Fund (IMF) and Pakistan have reached a staff-level agreement on a stand-by arrangement worth $3 billion, announced the lender. This decision has been eagerly anticipated by Pakistan, a South Asian nation that is on the verge of default.
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Pakistani rupee maintains upward trend for fourth consecutive day, closes at Rs285.15 against dollar
According to the State Bank of Pakistan (SBP), the Pakistani currency has maintained its upward trend against the US dollar for the fourth consecutive working day in the interbank market.