Despite IMF’s optimism, panic selling continues in Pakistan
The leading stock market of Pakistan, KSE-100 index lost 258.97 points to close at 9,428.44 Tuesday as traders continued panic selling fearing failure of a leading brokerage house to meet margin calls along with the reported decline in Asian markets. Despite market’s’ southward movement, IMF today said that Pakistan’s economy is getting back on track [...]
State Bank skeptical, stocks plummet in Pakistan
The State Bank of Pakistan announced Monday that interest rate will remain unchanged at 12.5 percent for near term. Despite signs of modest recovery, the State Bank policy statement was skeptical because the economy lacks the necessary infrastructure and sufficient macroeconomic stability to build on the momentum. Policy statement which sent Pakistan’s leading market, Karachi [...]
Ibrahim Sajid Malick is a Pakistani-American writer, technologist, and social entrepreneur. He has been writing on Pakistani society and politics since 1986. He has held several media, communications, and technology positions for organizations large and small. Mr. Malick graduated from New School for Social Research with a master’s degree in anthropology. He holds several technology and management certifications. He works for a leading technology firm and blogs at www.ibrahimsajidmalick.com