Stories from Salman Siddiqui
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Deficit hits 19-month low
Gap shrinks to $276m in Nov on back of significant drop in imports
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Engro Corporation to buy back 70m shares
Share price increased 2.86% (or Rs7.70) to close at Rs276.72 with a volume of 3.45 million shares
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Remittances hit 27-month low at $2.1b
Many expatriate Pakistanis opt for informal channels that offer attractive rates
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Attock Refinery shuts down for 8 days
Low demand for furnace oil, lack of technology lead to temporary closure
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New youth loan scheme announced
Revised scheme introduces new components; micro and agriculture loans
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Govt introduces new REIT regulations
Some 11 REIT projects worth Rs600 billion in progress at present
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SBP downplays risk of default
Says only $4.7b to be repaid in FY23 after debt restructuring, loan rollover
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Business confidence drops to negative 4%
Top reasons for decline were political instability, rupee devaluation and high fuel prices
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SBP aiming to develop local bond market
Will launch web portal allowing the entire nation to invest, trade in lucrative govt debt securities
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Rupee to nosedive to Rs330 by FY26
Widening gap between dollar demand, supply will keep exerting pressure on rupee