Business
PSX bounces back strongly following successful IMF review
Karachi, January 12, 2024 : The Pakistan Stock Exchange (PSX) experienced a second consecutive session of increased buying activity on Friday, spurred by the positive outcome of the International Monetary Fund’s (IMF) Executive Board completing the initial review of Pakistan’s economic reform program. As per the PSX website, the KSE-100 index surged by 565.79 points,…
PSW introduces Russian language dedicated helpline to facilitate Central Asian Trade
Islamabad, January 12, 2024 : In a strategic move towards advancing international trade facilitation, Pakistan Single Window (PSW) launched its dedicated Russian language helpline to benefit international transit trade with Central Asia. Introducing this helpline service addresses a crucial language barrier faced by traders particularly from Uzbekistan and Tajikistan using Pakistani ports as transit routes…
IMF board approves release of $700 mln tranche
Islamabad, January 12, 2024 : IMF executive board has approved first review for Pakistan under the Stand By Agreement (SBA) which is likely to lead to the release of US$700mn tranche. This will take total disbursement by IMF under the SBA program to US$1.9bn to Pakistan and will help support foreign exchange reserves of the…
President directs insurance company to refund Rs 100,000 with profit
Islamabad, January 12, 2024 : President Dr Arif Alvi has directed EFU Life Assurance Ltd to refund Rs 100,000 along with profit to a poor lady who had been misled to obtain the insurance policy. Ms Zubaida Begum had obtained an amount of Rs 100,000 by participating in a local “committee” and intended to deposit…
EU Ambassador visits FPCCI GSP+ status enabled 108% export growth in a decade
Karachi, January 11, 2024 : Mr. Atif Ikram Sheikh, President FPCCI, has stressed that the 27-country economic alliance of European Union – with a cumulative GDP of almost $20 trillion – can help Pakistan steer out of the chronically dilapidated state of the economy of Pakistan; and, enhancing our exports to the EU nations should…