Economy
SAI Chief Criticizes 2% Interest Rate Cut, Calls for 5% Reduction to Boost Economy
KARACHI, December 16, 2024: Ahmed Azeem Alvi, President of the SITE Association of Industry Karachi, has voiced his disappointment over the State Bank of Pakistan’s decision to reduce interest rates by just 200 basis points (2%). Despite widespread requests from the business community, he insists that a reduction of 500 basis points (5%) is necessary…
SBP Cuts Policy Rate to 13% Amid Inflation Decline and Improved Growth Prospects
KARACHI, December 16 2024: The State Bank of Pakistan (SBP) has reduced the policy rate by 200 basis points, bringing it to 13%, effective December 17, 2024. This decision reflects the bank’s efforts to balance economic recovery and inflation stabilization. Headline inflation fell to 4.9% in November 2024, driven by lower food prices and the…
Sindh Govt to Establish Economic Zones for Chinese Investment
KARACHI, December 16 2024: The Sindh government has announced plans to establish two specialized economic zones in Karachi to attract Chinese investors and foster partnerships with local entrepreneurs. Provincial Minister for Energy, Planning, and Development, Syed Nasir Hussain Shah, shared this vision during the 10th Beauty, Fitness, and Consumer Health International Expo at the Expo…
Market Update: A Roller Coaster Ride Amid Sectoral Shifts and Investor Optimism
KARACHI, December 13th 2024: The stock market experienced a range-bound session on December 13, 2024, as the index oscillated between an intraday high of 992 points and an intraday low of -1,571 points, eventually closing at 114,302, reflecting a modest uptick of 0.11%. The trading day was marked by a combination of optimism and pressure,…
Deposit Protection Corporation Releases Annual Report for FY2023-24
KARACHI, December 13 2024: The Deposit Protection Corporation (DPC) has officially unveiled its Annual Report for the fiscal year 2023-24. The comprehensive report, marking the Corporation’s fourth year of operations, offers a detailed overview of its financial performance, operational activities, and notable achievements. Established under the Deposit Protection Corporation Act, 2016, DPC operates as a…