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ISLAMABAD: Pakistan has again refused to accept a technical assistance mission by the International Monetary Fund (IMF) for the effective implementation of 142 actions aimed at addressing glaring weaknesses in the country’s governance and anti-corruption frameworks. The IMF reiterated the offer during a review meeting of the $7 billion bailout package. The Finance ministry politely declined the IMF technical mission, according to sources privy to the discussions. It is not the first time that the IMF has sought to send a technical assistance mission to Pakistan to strengthen governance and…

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United Business Group (UBG) Patron-in-Chief SM Tanveer, and leader of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called on Pakistani investors to repatriate their investments from the UAE’s real estate sector and reinvest in Pakistan. In an official statement on Wednesday, he emphasised the importance of redirecting investments to Pakistan rather than keeping funds in regions affected by conflict. “Pakistan needs your support to achieve economic sustainability,” he said. He noted the efforts of Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir over the…

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Following a volatile week dominated by geopolitical tensions in the Middle East, the Pakistan Stock Exchange (PSX) delivered a robust rebound on Thursday as the benchmark KSE-100 Index surged by over 5,430 points to close at 161,210, marking one of the strongest single-day gains in recent sessions. The market had witnessed a historic sell-off, with a record plunge of over 16,000 points on March 2, followed by partial rebounds and dips in recent days. On Thursday, PSX saw a sharp recovery, with the benchmark KSE-100 Index gaining 5,433 points (+3.49%)…

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LAHORE: Leaders of the Pakistan Petroleum Dealers Association (PPDA) sounded the alarm on Thursday, alleging that petroleum companies have reduced supply and warned that petrol pumps may begin shutting down within the next few days if supply is not restored. Speaking at a press conference at the Lahore Press Club, the association’s Central Secretary General Chaudhry Irfan Elahi said the situation had become alarming due to declining fuel deliveries. “Diesel supply has dropped to just 20%,” he said, adding that petrol supplies had also been significantly reduced. Elahi also claimed…

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ISLAMABAD: State Bank of Pakistan (SBP) Governor Jameel Ahmad disclosed on Wednesday that the central bank purchased $24 billion from the local market over the past three years to build foreign exchange reserves and that the International Monetary Fund (IMF) has been informed about the monthly rollover of $2 billion debt by the United Arab Emirates. The disclosures underscore the vulnerabilities of Pakistan’s external sector, which is surviving on market purchases while keeping the rupee under pressure and on the goodwill of the UAE that has now moved to monthly…

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