Business
Pakistan Stocks posts record recovery
Karachi, April 17, 2020: Market saw an unprecedented surge today that led to market halt at 10:52 PM for 60mins. A host of factors, all positive, from SBP’s surprise rate cut to deferment of G20 debt and IMF provided COVID-19 relief fund contributed to the ascend in index. The benchmark index realized an increase of…
IMF Board approves $1.4 bln disbursement to Pakistan for COVID-19
Islamabad, April 17, 2020: The International Monetary Fund (IMF) board has approved the disbursement of US$1.386 billion under the Rapid Financing Instrument to address the economic impact of the Covid-19 shock. The Executive Board of the International Monetary Fund (IMF) on Thursday approved a purchase of Pakistan under the Rapid Financing Instrument (RFI) equivalent to…
SBP further cut policy rate by 200bps
Karachi, April 16, 2020: In light of this reduction in growth and inflation expectations, the Monetary Policy Committee of the State Bank of Pakistan has decided at its emergency meeting today, to cut the policy rate by a further 200 basis points to 9 percent. At its last meeting on 24 th March 2020, the…
Pakistan Stock Exchange moving upward side
Karachi, April 16, 2020: Market traded in a narrow range today between +205 points and -226 points, and closing the session +87 points. Yesterday’s PIB auction that resulted in normalization of yield curve and declining of yields gave good reasons for investors to come back to equities. However, weakening oil fundamentals kept the investors in…
President FBATTI appreciated steps taken by SBP for salaries and wages to their workers
Karachi, April 16, 2020: President Federal B Area Association of Trade & Industry, Karachi Abdullah Abid have appreciated the steps taken by State Bank of Pakistan in providing relief to industries for payment of salaries & wages to their workers and employees. He said that on behalf of our association would like to thank you…