Curtailing trade deficit biggest economic challenge, says FPCCI chief on July 16, 2022FPCCI president Irfan Iqbal Sheikh said curtailing the trade deficit in the fiscal year 2022 – 23 would be the biggest economic challenge for the government; without which the country will remain under a constant threat of default and its foreign exchange reserves (FER) will not buildup to a secure level. FPCCI chief has noted […]
Contractionary monetary policy brought industry to a standstill: FPCCI on July 14, 2022Mr. Irfan Iqbal Sheikh, President FPCCI, has expressed his grave concerns that the contractionary and regressive monetary policy being practiced in the country has effectively brought trade and industry to a standstill and there will be economic stagnation in the country like never before. He added that the 15pc policy rate at the moment is […]
FPCCI demands 10pc cut in prices of POL products immediately on July 14, 2022FPCCI president Irfan Iqbal Sheikh has demanded that the government should slash the prices of the petroleum products by 10pc immediately as the international oil prices have substantively come down; and, the benefit needs to be shifted to the masses. He noted with a sigh of relief that oil prices are now under $100 per […]
Sales of sacrificial animals at lowest level ever this Eid on July 10, 2022Eid-al-Adha brings an influx of cattle to major metropolitan areas every year. Around two weeks before the Eid religious festival in rural areas, people bring their livestock to the metropolis to sell. All of these aspects influence the price of the sacrificed animal, and because these animals are considered a bona fide status symbol they […]
Experts term SBP’s decision to hike policy rate incomprehensible on July 9, 2022According to Kaiser Bengali, a renowned economic and business analyst, the recent rise in interest rates by the central bank may lead to an increase in economic deterioration. The SBP stated that the interest rate has been hiked to contain inflation; however, inflation is caused by the supply side of the economy. This was stated […]
KSE-100 rises before monetary policy statement on July 8, 2022A 0.45pc rise in the KSE-100 index on Thursday helped to prolong the gains of the Pakistan Stock Exchange (PSX) as investors awaited the country’s monetary policy announcement later in the day. Prior to the Eidul-Adha celebrations, the market experienced a lackluster trading session. At 41,344.01, the market closed up 184.22 points, or 0.45%. After […]
KSE-100 closes session with a modest gain on July 7, 2022A combination of buying and selling forces maintained the KSE-100 index in a restricted range for most of the day on the Pakistan Stock Exchange (PSX). After two sessions in the red, the benchmark index managed to eke out a very slight gain before the closing bell despite continuing to be under pressure. The KSE-100 […]
SBP may hike rates 125bps to handle high inflation: experts on July 7, 2022Onlookers, experts, and economists are divided on rate-hike expectations for the State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) meeting today. As a response to Pakistan’s 13-year-high inflation, the State Bank of Pakistan (SBP) is expected to hike its key policy rate by 125 basis points. According to the statement made by the State […]
5 Eid holidays will result in losses to trade, industry: FPCCI chief on July 7, 2022FPCCI president Irfan Iqbal Sheikh said Prime Minister Mian Muhammad Shehbaz Sharif had assured the business community at the time of his assuming charge of the Prime Minister’s office that the country is caught in low production and economic growth cycle; and, needs to work hard citing the quote of the father of the nation […]
Low volumes cause KSE-100 to decrease 0.59pc on July 6, 2022Trading volumes on Pakistan’s stock exchange (PSX) plummeted to multi-year lows on Tuesday as the benchmark KSE-100 index declined by 0.59pc. There was a selloff in the stock market due to the IMF’s (International Monetary Fund) program being delayed repeatedly. KSE-100 dropped 245.62 points or 0.59pc to conclude at 41,102.57. On Monday, 321 shares of […]