SBP, Multan Chamber organise2-day SME Mela on January 27, 2022An SME Mela was held on January 24 and 25, by the State Bank of Pakistan (SBP) in partnership with the Multan Chamber of Commerce and Industry (MCCI). The event was attended by officials and members of chambers of industry and commerce, associations of traders and women entrepreneurs, nd SMEs clusters of Multan, Khanewal, Vehari, […]
SBP keeps policy rate unchanged at 9.75pc on January 25, 2022According to SBP Governor Dr. Reza Baqir, the key interest rate will remain at 9.75 percent for the time being. Most analysts expected no change in the policy rate, while a tiny percentage also anticipated that a minor increase was possible. The SBP, on the other hand, had signalled in its earlier announcement that monetary […]
Weekly Market Review: KSE-100 index sheds 745 points on January 24, 2022Increasing Covid-19 instances and rising foreign commodity prices caused a sell-off on the Pakistan Stock Exchange last week, but the rebasing of the economy gave some respite and alleviated fears. The market was under pressure all the week ended on 21 January. The benchmark KSE-100 index fell 745 points (1.8%) last week, closing at 45,018. […]
Vietnam emphasises need to boost PTA process on January 20, 2022Nguyen Tien Phong, the Ambassador of Vietnam, has urged Pakistan and Vietnam to hasten the process of signing a Preferential Trade Agreement (PTA). “There were also discussions on establishing a free trade agreement (FTA) between the two countries, but the priority must be given to completing the PTA first. As he noted during a discussion […]
BMP rejects increase in power tariffs on January 19, 2022The Businessmen Panel (BMP) condemned the National Electric Power Regulatory Authority’s (NEPRA) decision to increase electricity tariffs by Rs4.3 per unit in January-2022 bills on Monday, stating that the burden of power theft, mismanagement, and inefficiencies cannot be shifted to consumers on the pretext of fuel adjustment. Mian Anjum Nisar, Chairman of the Businessmen Panel, […]
Business community demands re-examination of supplementary finance bill on January 16, 2022The Supplementary Finance Bill 2021-22 should be re-examined and not implemented without the participation of primary stakeholders, according to the Karachi Chamber of Commerce and Industry (KCCI) and the Leadership of Businessmen Group. They voiced concerns about the federal government’s implementation of IMF-mandated tax measures through the Supplementary Finance Bill 2021-22, which will not only […]
Housing and construction finance rises by Rs163b in FY21 under MPMG on January 7, 2022A record Rs163 billion in housing and construction financing was generated in FY21, including Rs38 billion from the Mera Pakistan Mera Ghar programme (MPMG). Banks’ outstanding credit for housing and construction increased by Rs163 billion, from Rs192 billion to Rs355 billion, in 2021, a record-breaking growth of 85 percent, SBP said in a press release […]
Business community fears skyrocketing prices on January 3, 2022Exports will be harmed, and poverty-stricken citizens may see their standard of living worsen as prices for nearly everything go up and their purchasing power shrinks as a result of mini-budget, according to the business community. Over 150 items will be subject to a 17.5pc sales tax as part of the fiscal tightening measures proposed […]
Headline inflation reaches highest level in two years on January 2, 2022There was a 22-month high in December 2021 in the Consumer Price Index (CPI)-based reading of 12.3 percent, up from the previous month’s 11.5 percent and December 2020’s 8.0 percent increase, according to data released by the Pakistan Bureau of Statistics (PBS) on Saturday. The inflation rate is the highest since February 2020, when it […]
Dr Reza Baqir predicts pause after string of rate hikes on December 18, 2021State Bank of Pakistan (SBP) Governor Dr Reza Baqir announced that the bank will “pause” its interest rate increases in order to maintain economic recovery after raising policy rates by 275 basis points since September. Dr Baqir discussed monetary policy and the outlook for the economy with Yvonne Man and Rishaad Salamat on ‘Bloomberg Markets: […]