Trends - Pakistan and IMF - Business Recorder

Pakistan and IMF

Brokerage house AHL expects KSE-100 to provide upside of 24% in FY24

AHL says KSE-100 could power past 56,000 level by June 2024

Updated 15 Jul, 2023 11:52pm

Markets

IMF delves into reasons behind ‘shorter’ programme with Pakistan

Nine-month Stand-By Arrangement provides time to implement policies critical to strengthening Pakistan's economic situation, says IMF’s Director of Strategic Communications Julie Kozack

Updated 14 Jul, 2023 08:59pm

Pakistan

IMF Executive Board approves $3bn Stand-By Arrangement for Pakistan

Board’s approval allows for an immediate disbursement of SDR894 million or about US$1.2 billion

Updated 12 Jul, 2023 11:57pm

Pakistan

UAE has deposited $1bn in Pakistan’s central bank: Ishaq Dar

Finance minister says SBP-held foreign exchange reserves have gotten another boost after $2bn inflow from Saudi Arabia

Updated 12 Jul, 2023 07:57pm

Pakistan

IMF ‘seeks assurances’ from Pakistan’s political parties on commitment to new SBA

IMF official says lender's staff in process of meeting representatives from PML-N, PTI, PPP

Updated 07 Jul, 2023 05:37pm

Pakistan

IMF’s Executive Board meeting on Pakistan set for July 12

The Fund is set to discuss a nine-month stand-by arrangement for Pakistan as the previous Extended Fund Facility expired on June 30

Updated 06 Jul, 2023 09:55am

Markets

SBP-held foreign exchange reserves rise $533mn, stand at $4.07bn

Increase comes on back of realisation of $300 million proceeds of government of Pakistan’s commercial loan

Published 03 Jul, 2023 09:06pm

Pakistan

Moody’s, Fitch see lingering risks despite Pakistan-IMF deal: report

Pakistan is staring at $25bn debt repayment in fiscal year 2023-24, and a widening current account deficit could pose problems

Published 03 Jul, 2023 08:16pm

Markets

Pakistan dollar bonds extend rally fuelled by IMF deal

LONDON: Pakistan sovereign dollar-bonds rose as much as 1 cent on Monday, building on last week’s gains in the wake...

Updated 03 Jul, 2023 07:08pm

Markets

Component-wise breakdown of petrol price in Pakistan

Government raises PDL to Rs55 per litre to fulfil key condition of IMF

Published 01 Jul, 2023 01:40pm

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

Dar says Pakistan expects IMF deal in next 24 hours

Country is racing against time to unlock funds ahead of the scheduled end of the programme today

Updated 30 Jun, 2023 10:15am

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

Dar says govt ‘making efforts’ to secure more than $1.1bn in IMF funding

Finance minister expresses hope that Pakistan would get 'balance amount' which stands at nearly $2.6bn

Published 27 Jun, 2023 09:40pm

Markets

PM Shehbaz holds telephonic conversation with IMF MD Georgieva

Pakistan hopes for IMF decision over stalled bailout programme in a day or two

Updated 27 Jun, 2023 04:52pm

Pakistan

As Islamabad scrambles, Dar meets US ambassador to alleviate concerns on Pakistan’s budget

Finance minister says measures for fiscal year 2023-24 are aimed at reducing fiscal gap in order to meet national as well as international financial obligations

Updated 21 Jun, 2023 05:25pm

Markets

IMF’s criticism of Pakistan’s budget raises default odds: Bloomberg

If IMF aid doesn’t come this month, it expects growth to be much weaker in fiscal 2024 than the current forecast of 2.5%

Updated 19 Jun, 2023 08:07pm

Pakistan

In tit-for-tat response, Pakistan says FY24 budget ‘was never a part of IMF 9th review’

Govt says it is committed to IMF programme, wants to at least complete pending review

Updated 16 Jun, 2023 08:19pm

Pakistan

Pakistan’s time being wasted, says Dar in reference to delay in IMF funding

Says global institutions want Pakistan to default like Sri Lanka and then enter negotiations

Updated 15 Jun, 2023 10:25pm

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

Markets

Moody’s says chances of Pakistan securing IMF bailout dwindling: report

Moody's analyst says Pakistan could default without an IMF programme

Updated 14 Jun, 2023 08:19pm

Pakistan

SBP chief says Pakistan not considering bilateral debt restructuring: Reuters

Development comes after Finance Minister Ishaq Dar's statement on possibility of restructuring bilateral debt

Published 12 Jun, 2023 07:10pm

Markets

Post-budget press conference: Dar looks to pacify concerns

Says 'rescheduling domestic debt at present is foolishness'

Updated 10 Jun, 2023 07:37pm

Pakistan

Pakistan has to satisfy IMF on three counts including budget ‘consistent with programme objectives’

Resident representative says there is time for one last board review before scheduled end of Extended Fund Facility

Updated 08 Jun, 2023 08:17pm

Pakistan

There will be no winners, say experts ahead of budget announcement

Trapped in economic crisis coupled with political instability and lingering IMF programme, govt seems to have its hands tied

Updated 07 Jun, 2023 08:35pm

Pakistan

Ninth review: fresh financing requirements unchanged, says IMF

Resident representative says 'no truth to reports that IMF is asking Pakistan to raise $8bn in fresh financing'

Published 14 May, 2023 05:58pm

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

Markets

Political turmoil damaging Pakistan’s already battered economy

Analysts say ongoing political crisis and massive uncertainty driving concerns of default, further delay in IMF programme

Published 11 May, 2023 03:19pm

Gainers
Losers
Leaders

Stock	Price
Dewan Sugar / Dec 2 Dewan Sugar Mills Limited(DWSM)	3.73 ▲ 1.00 (36.63%)
Universal Ins. / Dec 2 The Universal Insurance Company Limited(UVIC)	6.15 ▲ 1.00 (19.42%)
Abdullah Shah / Dec 2 Abdullah Shah Ghazi Sugar Mills Limited(AGSML)	7.13 ▲ 0.96 (15.56%)
JS Global Banking / Dec 2 JS Global Banking Sector (ETF)(JSGBETF)	13.53 ▲ 1.78 (15.15%)
Saritow Spinning / Dec 2 Saritow Spinning Mills Limited(SSML)	7.98 ▲ 1.00 (14.33%)
Ruby Textile / Dec 2 Ruby Textile Mills Limited(RUBY)	5 ▲ 0.60 (13.64%)
Waves Home Appliances / Dec 2 Waves Home Appliances Limited(WHALE)	8.12 ▲ 0.86 (11.85%)
Trust Sec.& Brok. / Dec 2 Trust Securities & Brokerage Limited(TSBL)	10.06 ▲ 1.00 (11.04%)
Pak Gulf Leasing / Dec 2 Pak-Gulf Leasing Company Limited(PGLC)	7.75 ▲ 0.73 (10.40%)
Next Capital / Dec 2 Next Capital Limited(NEXT)	6.22 ▲ 0.55 (9.70%)

Stock	Price
Aruj Industries / Dec 2 Aruj Industries Limited(ARUJ)	8.02 ▼ -1.00 (-11.09%)
Askari Life Assur. / Dec 2 Askari Life Assurance Company Limited(ALAC)	5.45 ▼ -0.50 (-8.40%)
Hallmark Co. / Dec 2 Hallmark Company Limited(HCL)	196.11 ▼ -15.90 (-7.50%)
Siemens Pak. / Dec 2 Siemens (Pakistan) Engineering(SIEM)	717.18 ▼ -58.15 (-7.50%)
Universal Network (GEM) / Dec 2 Universal Network Systems Limited (GEM)(GEMUNSL)	30.52 ▼ -2.47 (-7.49%)
Suraj Cotton / Dec 2 Suraj Cotton Mills Limited(SURC)	146 ▼ -10.75 (-6.86%)
Clover Pakistan / Dec 2 Clover Pakistan Limited(CLOV)	23.75 ▼ -1.62 (-6.39%)
Kohinoor Power / Dec 2 Kohinoor Power Company Limited(KOHP)	5.10 ▼ -0.32 (-5.90%)
Tata Textile / Dec 2 Tata Textile Mills Limited(TATM)	72.30 ▼ -3.69 (-4.86%)
Jubilee Spinning / Dec 2 Jubilee Spinning & Weaving Mills Ltd.(JUBS)	6.40 ▼ -0.32 (-4.76%)

Stock	Volume
Maple Leaf Cement / Dec 2 Maple Leaf Cement Factory Limited(MLCF)	42,339,484 ▲ 2.90
Pak Elektron / Dec 2 Pak Elektron Limited(PAEL)	39,182,221 ▲ 1.15
Fauji Foods Ltd / Dec 2 Fauji Foods Limited(FFL)	34,548,158 ▼ -0.07
Fauji Fert Bin / Dec 2 Fauji Fertilizer Bin Qasim Limited(FFBL)	33,025,000 ▲ 0.50
WorldCall Telecom / Dec 2 Worldcall Telecom Limited(WTL)	28,095,487 ▲ 0.03
Fauji Cement / Dec 2 Fauji Cement Company Limited(FCCL)	27,255,000 ▲ 1.32
Hum Network / Dec 2 Hum Network Limited(HUMNL)	21,957,500 ▲ 0.41
Dewan Cement / Dec 2 Dewan Cement Limited(DCL)	17,398,000 ▼ -0.13
B.O.Punjab / Dec 2 The Bank of Punjab(BOP)	16,209,942 ▼ -0.07
D.G.K.Cement / Dec 2 D.G. Khan Cement Company Limited(DGKC)	14,240,564 ▲ 5.49

Markets →

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 1	285.15
USD PKR Interbank Buying / Dec 1	284.95
USD to Japanese Yen / Dec 1	148.16
USD to Swiss Franc / Dec 1	0.87
Pound Sterling to USD / Dec 1	1.26
Euro to USD / Dec 1	1.09
UK LIBOR % / Nov 30	5.46

Stock	Volume
S&P 500 / Dec 1	4556.94
India Sensex / Dec 1	67481.19
Tokyo Nikkei / Dec 1	33431.51
Nasdaq / Dec 1	14187.27
Hang Seng / Dec 1	16830.30
FTSE 100 / Dec 1	7501.93
Dow Jones / Dec 1	35968.23
Germany DAX 30 / Dec 1	16335.19
France CAC40 / Dec 1	7342.95

Item	Value
Karachi Cotton PKR/37.32 KG / Nov 30	17435
Crude Oil USD/Barrel / Dec 1	76.13
Gold 10 Grams PKR / Dec 1	189043
Gold Spot USD/Ounce / Dec 1	2038.53
Cotton US¢/pound / Dec 1	79.92

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Pakistan and IMF

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