Economy
PSX gains 89 points on Thursday
Karachi, July 02, 2020: KSE-100 index at Pakistan Stock Exchange (PSX) went up by 288 points during the session, which was contributed by a mix of sectors including Cements and Fertilizer sectors (which hit day’s high in early trading, but faced profit booking in later part of the session). Banking sector gained further as investors…
Equities have become preferred asset class
Karachi, July 01, 2020: The pandemic has triggered the deepest global recession in decades. We have witnessed slowdown in Pakistan’s economy and downside risk to growth has increased. However, the fiscal and monetary authorities have responded with unprecedented economic policies including fiscal stimulus, monetary easing and debt moratorium. The recent reduction of Policy Rate to…
Budget lacks out-of-the-box solutions to jump-start economy: Ismail Suttar
Karachi, June 15, 2020: Ismail Suttar, President of the Apex Body of Manufacturers, The Employers Federation of Pakistan (EFP), has said that the federal budget 2020-21 lacks out-of-the-box solutions to jumpstart economy, cut down costs of manufacturers, create jobs and incentivize exporters amid reduction in business orders. In a Statement, he said that broader policies…
PTI Govt. cuts budget estimates 11 pc for FY21
Karachi, June 12, 2020: The federal government for the first time in the history has reduced budget estimates for the next fiscal year 2020-21 compared to estimates of last fiscal year (FY20) due to Coronavirus pandemic. According to budget documents available to thebizupdate.com, the total outlay of budget 2020-21 is estimated Rs 7,295 billion compare…
COVID-19 severely affected Pakistan’s economy
Karachi, June 12, 2020: Mian Anjum Nisar, President Federation of Pakistan Chambers of Commerce & Industry said that coronavirus (COVID-19) has severely affected the economy, businesses, industries and small traders. He was speaking in the seminar on post lockdown scenario of COVID-19 and effects of coronavirus pandemic on Pakistan’s economy via video link on zoom…