News stories for Bilal Memon - Business Recorder

Bilal Memon

Pakistan

A new stand-by arrangement with the IMF: here are some key points

After a massive delay, govt succeeds in convincing IMF to allot it more money than expected

Published 30 Jun, 2023 12:39pm

Pakistan

Pakistan, IMF reach staff-level agreement on new $3bn stand-by arrangement

Agreement subject to approval by the IMF Executive Board, with its consideration expected by mid-July

Updated 30 Jun, 2023 11:11pm

Pakistan

Aim to quickly reach agreement on financial support, says IMF

IMF Mission Chief Nathan Porter says Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform programme, will continue discussions

Updated 27 Jun, 2023 10:29pm

Pakistan

IMF comes down hard on Pakistan’s budget proposals

Says draft misses opportunity to broaden tax base in progressive way
Criticises new tax amnesty scheme that runs against IMF programme’s conditionality/governance agenda, and creates a damaging precedent

Updated 15 Jun, 2023 09:00am

Pakistan

In budget 2023-24, Pakistan envisages over $19bn in external financing

To meet budgeted targets, govt says it will seek $2.4bn from IMF, another $4.5bn from commercial banks

Updated 09 Jun, 2023 11:11pm

Business & Finance

You don’t need AI to predict Dar’s budget speech. This is how it will likely go

Finance Minister Ishaq Dar is scheduled to announce the budget proposals this Friday. He last announced the budget...

Updated 06 Jun, 2023 11:59pm

Pakistan

IMF stresses on ‘staying within agreed policy framework, securing financing’

Washington-based lender says it has taken note of recent (political) developments, and hopes peaceful way forward is found

Updated 14 May, 2023 06:00pm

Pakistan

IMF reiterates ‘necessary financing’ condition for completion of Pakistan’s ninth review

Says it supports authorities in implementation of policies in the period ahead, including in the technical work to prepare the FY24 budget

Updated 05 May, 2023 03:12pm

Pakistan

IMF wants more 'necessary funding assurances' for successful completion of Pakistan's 9th review

Mission Chief for Pakistan Nathan Porter says there was agreement between Pakistani delegation and IMF staff/management to maintain strong policies and secure sufficient financing

Updated 15 Apr, 2023 08:31pm

Pakistan

Govt did not consult ahead of announcing fuel subsidy proposal: IMF

Pakistan authorities did not consult with the International Monetary Fund (IMF) staff ahead of announcing their...

Updated 21 Mar, 2023 09:02am

Pakistan

Pakistan's ex finance chief Miftah warns against any kind of debt restructuring

Difficult task to get China and the West to sit on one table for such an endeavour, he says

Updated 16 Mar, 2023 09:46am

Business & Finance

Next MPC meeting so far scheduled on March 16, says SBP

SBP chief spokesperson's statement comes amid widespread speculation the central bank is likely to increase interest rate in off-cycle review

Published 23 Feb, 2023 08:38pm

Pakistan

IMF stresses on 'timely, decisive' implementation of policies as virtual discussions to continue

In short statement at conclusion of 10-day visit, IMF mission chief says resolute financial support from official partners critical for Pakistan to successfully regain macroeconomic stability and advance sustainable development

Updated 10 Feb, 2023 02:01pm

Pakistan

IMF says Fund mission scheduled to visit Islamabad at end of January

Will continue discussions under ninth EFF review

Updated 26 Jan, 2023 08:25pm

Markets

Dollar released from Dar(kness): Pakistan moves to convince IMF

As the PKR endured its worst day in over two decades (in terms of percentage loss), many say this is a step towards reviving the stalled bailout programme

Updated 26 Jan, 2023 10:03pm

Opinion

The darkness deepens

They say the night is darkest before the dawn. On Monday, it couldn’t have gotten darker—somewhere, someone in...

Published 25 Jan, 2023 06:25am

Pakistan

‘Fragile situation’ in a ‘resilient’ economy: British International Investment CEO

KARACHI: British International Investment (BII), which was called the CDC Group till 2022, made its first investment...

Published 22 Jan, 2023 11:47pm

Pakistan

Geneva pledges a success, but immediate assistance for flood victims unlikely: expert

The amount of support Pakistan marshalled in Geneva as it made the case of rebuilding its country after devastating...

Published 18 Jan, 2023 04:01am

Pakistan

IMF says its delegation expected to meet Finance Minister Dar on sidelines of Geneva conference

Will discuss outstanding issues and path forward, says IMF spokesperson

Updated 08 Jan, 2023 10:59am

Markets

Gap between inter-bank and ‘open’ market rates on FCY transactions widens to over Rs24

KARACHI: Customers using their cards (debit or credit) to conduct foreign currency transactions will have to be...

Published 05 Jan, 2023 05:58am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 20	278.48
USD PKR Interbank Buying / Dec 20	278.28
USD to Japanese Yen / Dec 20	156.31
USD to Swiss Franc / Dec 20	0.89
Pound Sterling to USD / Dec 20	1.26
Euro to USD / Dec 20	1.04

Stock	Volume
S&P 500 / Dec 20	5,930.85
India Sensex / Dec 20	78,041.59
Tokyo Nikkei / Dec 20	38,701.90
Nasdaq / Dec 20	19,572.60
Hang Seng / Dec 20	19,720.70
FTSE 100 / Dec 20	8,084.36
Dow Jones / Dec 20	42,840.26
Germany DAX 30 / Dec 20	19,884.75

Item	Value
Crude Oil USD/Barrel / Dec 20	69.46
Gold 10 Grams PKR / Dec 20	234,311
Gold Spot USD/Ounce / Dec 20	2,622.91
Cotton US¢/pound / Dec 20	68.06
Karachi Cotton PKR/37.32 KG / Dec 21	17,585
Petrol/Litre / Dec 22	252.10

Gainers
Losers
Leaders

Stock	Price
Media Times Ltd / Dec 20 Media Times Limited(MDTL)	2.37 ▲ 0.37 (18.50%)
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	7.23 ▲ 1.00 (16.05%)
Ist.Capital Sec / Dec 20 First Capital Securities Corporation(FCSC)	2.12 ▲ 0.26 (13.98%)
Khalid Siraj / Dec 20 Khalid Siraj Textile Mills Limited(KSTM)	9.60 ▲ 0.97 (11.24%)
Aruj Industries / Dec 20 Aruj Industries Limited(ARUJ)	9.90 ▲ 0.98 (10.99%)
Escorts Bank / Dec 20 Escorts Investment Bank Limited(ESBL)	4.79 ▲ 0.47 (10.88%)
Cresent Jute / Dec 20 Crescent Jute Products Limited(CJPL)	4.20 ▲ 0.40 (10.53%)
S.G.Power / Dec 20 S.G. Power Limited(SGPL)	11.19 ▲ 1.02 (10.03%)
P.T.C.L. / Dec 20 Pakistan Telecommunication Company Ltd(PTC)	25.80 ▲ 2.35 (10.02%)

Stock	Price
LSE Financial Serv. / Dec 20 LSE Financial Services Limited(LSEFSL)	16.25 ▼ -1.81 (-10.02%)
Dar-es-Salaam / Dec 20 Dar-es-Salaam Textile Mills Limited(DSML)	41.93 ▼ -4.66 (-10.00%)
Maqbool Tex. / Dec 20 Maqbool Textile Mills Limited(MQTM)	31.05 ▼ -3.45 (-10.00%)
Reliance Cotton / Dec 20 Reliance Cotton Spinning Mills Limited(RCML)	621 ▼ -69.00 (-10.00%)
Sanghar Sugar / Dec 20 Sanghar Sugar Mills Limited(SANSM)	27.72 ▼ -3.08 (-10.00%)
Olympia Mills / Dec 20 Olympia Mills Limited(OML)	34.58 ▼ -3.84 (-9.99%)
Nagina Cot. / Dec 20 Nagina Cotton Mills Limited(NAGC)	48.92 ▼ -5.41 (-9.96%)
Oilboy Energy / Dec 20 Oilboy Energy Limited(OBOY)	11.39 ▼ -1.26 (-9.96%)
Arpak Int. / Dec 20 Arpak International Investments Ltd.(ARPAK)	65.22 ▼ -7.19 (-9.93%)

Stock	Volume
WorldCall Telecom / Dec 20 Worldcall Telecom Limited(WTL)	177,645,248 ▲ 0.10
K-Electric Ltd. / Dec 20 K-Electric Limited(KEL)	81,901,542 ▲ 0.16
Cnergyico PK / Dec 20 Cnergyico PK Limited(CNERGY)	68,345,098 ▲ 0.12
Pak Elektron / Dec 20 Pak Elektron Limited(PAEL)	57,974,101 ▲ 1.47
Pak Refinery / Dec 20 Pakistan Refinery Limited(PRL)	45,251,944 ▲ 0.40
Pace (Pak) Ltd. / Dec 20 Pace (Pakistan) Limited(PACE)	43,240,462 ▲ 1.00
Sui South Gas / Dec 20 Sui Southern Gas Company Limited(SSGC)	40,539,001 ▼ -0.74
B.O.Punjab / Dec 20 The Bank of Punjab(BOP)	35,598,669 ▲ 0.24
Symmetry Group / Dec 20 Symmetry Group Limited(SYM)	34,869,613 ▼ -0.72

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