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As the US dollar depreciates, PSX observes mixed patterns.

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6 months ago

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Significant swings occurred today on the Pakistan Stock Exchange (PSX), as the KSE-100 Index showed erratic trading conditions.

The KSE-100 Index increased by 100 points to reach 75,620 points as the market began trading positively. The index later fell by 170 points, settling at 75,345 points, indicating that the rising impetus was fleeting.

An major decline in the index resulted from the market’s inability to maintain its early optimism. Experts blame a mix of outside economic causes and market speculation for this volatility.

Concurrently, there was a minor depreciation of the US dollar in relation to the Pakistani rupee in the interbank market. At Rs278.20, the dollar was sold, indicating a 10-paisa decline. In the days ahead, this depreciation may have an even greater impact on market movements given the persistent economic difficulties.

These patterns are observed by the market at a time when the International Monetary Fund (IMF) predicts that Pakistan’s trade deficit will rise significantly in the upcoming fiscal year, indicating difficulties for the nation’s economic stability. Pakistan’s imports and exports are expected to rise in the upcoming fiscal year, according to the Fund.

Pakistan’s trade imbalance is expected to increase by about $4.165 billion, based on forecasts from the IMF. According to sources, there could be a significant increase in both imports and exports in the upcoming fiscal year, meaning that the total trade deficit could exceed $27.92 billion.

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Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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2 days ago

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Business

Discos report losses of Rs239 billion.

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2 days ago

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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