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Articles for tag: approval, Approved by the IMF, bound, CPI inflation, economic uncertainty, EFF, foreign capital outflows, FTSE Rebalancing, KSE-100 index, oil prices, pending, PSX, range, remains, Stock Exchange of Pakistan, stock market performance, trading volumes

September 8, 2024

News Desk

PSX remains range bound pending EFF approval

KARACHI: The Pakistan Stock Exchange (PSX) remained subdued in the coming week as investors awaited approval from the International Monetary Fund’s (IMF) board for the $7 billion Extended Fund Facility (EFF) and on concerns over possible foreign capital outflows due to coming rebalancing of the FTSE. However, the KSE-100 index registered a meager gain of around 400 points based on the Consumer Price Index (CPI) inflation reading, which fell to single digits for the first time in three years to 9.6% for August 2024 .Easing inflation fueled hopes of a rate cut at the next monetary policy committee (MPC) meeting.

August 2, 2024

News Desk

Aurangzeb calls for reforms to secure last EFF with IMF

Islamabad: Federal Finance and Revenue Minister Senator Muhammad Aurangzeb on Thursday reiterated the need for structural reforms to ensure that the Expanded Fund Facility (EFF) with the International Monetary Fund (IMF) is the country’s final programme. He emphasized the importance of privatization, export-led growth and foreign direct investment (FDI) for sustainable macroeconomic stability. Addressing the inauguration ceremony of the headquarters building of the Securities and Exchange Commission of Pakistan (SECP), the minister announced that a Staff Level Agreement (SLA) has been signed with the IMF and will be submitted to the fund’s board for final approval. “Under the umbrella of

July 13, 2024

News Desk

Pakistan secures $7 billion EFF deal

Islamabad: Pakistan and the International Monetary Fund have reached a staff-level agreement on a $7 billion Extended Fund Facility program – in a deal that in the short term places a heavy burden on the nation but also ends decades of protection for farmers and exporters. The global lender announced the three-year 24th program agreement only after Pakistan agreed to bring transparency to the affairs of the Pakistan Sovereign Wealth Fund and stop giving any preferential treatment to projects drawn up by the Special Investment Facilitation Council (SIFC). Pakistan’s federal and provincial governments will also sign a new National Fiscal

March 22, 2024

News Desk

Pakistan will discuss the Extended Fund Facility with the IMF next month

Islamabad: The issue of an expanded fund facility (EFF) with the International Monetary Fund (IMF) will be discussed in Washington next month, Finance Minister Muhammad Aurangzeb said on Friday, as the country tries to mitigate a full-scale financial crisis. The $3 billion standby agreement with the global lender expires on April 11, and the two sides reached a staff-level agreement on the disbursement of the final $1.1 billion tranche earlier this week. “We have expressed our strong interests for an expanded fund facility with the IMF, but the amount is not yet clear,” Aurangzeb told a media briefing, adding that

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