Connect with us

Business

Pakistan Requests $1 Billion from IMF Climate Facility: Finance Minister

Published

on

Finance Minister Muhammad Aurangzeb states that he is aiming for approximately one billion dollars in a formal request from the International Monetary Fund Climate Facility.

During an interview with Reuters at the IMF/World Bank Meetings in Washington, he stated that Pakistan had officially requested consideration for this facility.

The IMF approved a bailout for Pakistan last month and has additional cash accessible through its resilience and sustainability trust.

The nation is negotiating with the Asian Infrastructure Investment Bank for a credit enhancement for a proposed panda bond, with an initial issuance of $200-250 million.

The Finance Minister stated that Pakistan’s Foreign Exchange Reserves are projected to attain 13 billion dollars by March 2025.

He stated that Pakistan is engaged in discussions with China’s Asian Infrastructure Investment Bank over the proposed panda bond.

Business

PSX 100-index reaches an unprecedented peak, exceeding 111,000 points.

Published

on

By

The Pakistan Stock Exchange (PSX) reached the significant milestone of 111,000 points shortly after today’s market opening.

The KSE-100 Index ascended by more than 1,000 points in the initial five minutes of trade, achieving a notable increase of 1,044 points to attain 111,014 points.

The increase indicates heightened investor confidence and a robust market sentiment.

Continue Reading

Business

SIFC Initiates Carbon Market Initiative: Pakistan Pursues Green Investment at COP29

Published

on

By

Pakistan has introduced its inaugural Carbon Market Policy at the 29th Conference of the Parties in Baku to attain climate objectives and encourage green investments.

The policy seeks to enhance investment in the energy, agriculture, and forestry sectors.

Through the initiatives of the Special Investment Facilitation Council, Pakistan has developed a transparent carbon market framework that adheres to international norms.

The policy conforms to international standards and establishes a definite strategic orientation.

Pakistan’s carbon market policy promotes environmental conservation, economic development, and sustainability.
It promotes the use of eco-friendly technologies by enterprises and the reduction of greenhouse gas emissions.

The policy represents a substantial advancement in the worldwide effort to combat climate change. It encourages international investors and organizations to participate in Pakistan’s carbon market.

SIFC aims to mitigate environmental concerns while promoting economic growth via the Global Carbon Market.

Continue Reading

Business

When the benchmark hits 109,881 points, the PSX-100 index sets a new record.

Published

on

By

During the first hour of trading today, the Pakistan Stock Exchange (PSX) made a stunning comeback, moving from negative to positive territory. After losing 1,400 points, the market recovered and gained 800 points.

Setting a new high, the benchmark KSE-100 Index jumped 827 points to a record-breaking 109,881 points. Restored investor confidence was also reflected in the market’s return to its crucial levels of 108,000 and 109,000 points.

Supportive government policies and recent strong economic data are credited by experts with this success, as they have improved market mood.

Continue Reading

Trending