Latest news with #MahirBinici
Express Tribune
14-07-2025
- Business
- Express Tribune
In fresh peak, PSX rises past 136,000 mark
Continuing its remarkable rally, the Pakistan Stock Exchange (PSX) touched another all-time high on Monday as it surged past 136,000 points over encouraging economic developments and robust interest from mutual funds and institutional investors. The benchmark KSE-100 index added another 2,202.77 points, or 1.64%, to settle at 136,502.54 at the close of trading. Since the commencement of the session, the market began its gradual ascent and didn't look back, reaching the intra-day high at 136,841 just before the end of the day's proceedings. According to Topline Securities, the KSE-100 index surged to intra-day high of 2,542 points before closing at a new all-time peak of 136,503, registering a remarkable gain of 2,203 points, or 1.64%. "The rally was fuelled by strong participation from local mutual funds and institutional investors," it said in a report. Banking sector heavyweights led the momentum, with UBL, HBL, Fauji Fertiliser Company, Bank AL Habib and MCB Bank collectively contributing 1,443 points to the benchmark index. Overall market activity remained vibrant where trading volumes surpassed 841 million shares, while the total traded value climbed to Rs37 billion. Crescent Star Insurance emerged as the volume leader, which saw trading in 47 million shares, Topline added. Arif Habib Limited (AHL), in its report, called Monday's trading a very strong start to the week with the KSE-100 gaining 1.64% day-on-day to clear the 136k level. Some 62 shares rose while 36 fell on the index, where UBL (+5.45%), HBL (+9.43%) and Fauji Fertiliser Company (+1.67%) contributed the most to index gains. In contrast, Pakistan Petroleum (-0.69%), PSO (-0.91%) and National Foods (-2.47%) were the biggest drags, it said. Among major economic news, it cited that the International Monetary Fund (IMF) had expressed satisfaction with Pakistan's economic progress as its Resident Representative Mahir Binici described the country's performance under the Extended Fund Facility (EFF) as "strong so far". Earlier, Pakistan and Vietnam agreed to launch negotiations for a preferential trade agreement in 2025, following the revival of high-level economic dialogue between the two countries. Among corporate developments, Honda Atlas Cars (+2.45%) is set to introduce its first-ever hybrid SUV in Pakistan – the HR-V e:HEV. This launch marks Honda's official entry into the hybrid C-segment SUV, where the HR-V e:HEV will compete directly with established players. Concluding its report, AHL expected further gains in the stock market with near-term support rising to 135k. During the day, shares of 475 companies were traded. Of these, 264 stocks closed higher, 195 decreased and 16 stood unchanged. Among the volume leaders, Crescent Star Insurance registered trading in 47.2 million shares, rising 97 paisa to close at Rs4.34. It was followed by K-Electric, which recorded trading in 42.8 million shares and gained 26 paisa to Rs5.33. First Dawood Properties was the third in the list, which saw trading in 35.6 million shares, up 64 paisa to close at Rs5.55. Foreign investors were sellers of shares worth a net Rs16.7 million.
Express Tribune
14-07-2025
- Business
- Express Tribune
IMF sees growth ahead for Pakistan
IMF Pakistan's Representative Mahir Binici (left) at the Sustainable Development Policy Institute in Islamabad on July 13, 2025. Photo: APP Listen to article A senior International Monetary Fund (IMF) official said on Sunday that growth across the Middle East, North Africa (MENA) region and Pakistan was expected to strengthen in 2025 and beyond, despite "exceptional uncertainty" that could weigh on the global economic outlook. In a comprehensive guest lecture at the Sustainable Development Policy Institute (SDPI), IMF Resident Representative for Pakistan Mahir Binici, cautioned against elevated trade tensions, geopolitical fragmentation and weakening global cooperation. Binici, according to a press release issued here, reaffirmed the continued IMF support for Pakistan's economic and climate reform agenda and underlined the urgent need for prudent and forward-looking policy actions. Focusing on Pakistan, Binici noted that the country's performance under the IMF's Extended Fund Facility (EFF) had been "strong so far," adding that the successful completion of the first review by the IMF Executive Board in May 2025 was a key milestone. Binici emphasised that structural reforms remained central to Pakistan's long-term economic sustainability, particularly reforms that strengthened tax equity, improve business climate, and encourage private-sector-led investment. "Early policy measures have helped restore macroeconomic stability and rebuild investor confidence, despite persistent external challenges," he said. He also highlighted Pakistan's progress on climate-related reforms under the IMF's Resilience and Sustainability Facility (RSF). He said that key areas of reform under the RSF included enhancing public investment planning, promoting efficient and sustainable use of water resources, improving institutional coordination for disaster preparedness and financing, expanding availability and transparency of climate-related data. The press released said that Binici stressed that the support through "the RSF will not only strengthen Pakistan's climate resilience but also help unlock green investments and foster a more climate-conscious economic trajectory." The lecture was followed by a discussion on fiscal and monetary policy frameworks, external buffers, and the role of international institutions. Earlier, SDPI Executive Director Dr Abid Qaiyum Suleri dilated on multilateral cooperation in Pakistan's journey toward sustainable development. (WITH INPUT FROM APP)
Business Recorder
14-07-2025
- Business
- Business Recorder
IMF reaffirms support to reform agenda
ISLAMABAD: International Monetary Fund's (IMF) Resident Representative for Pakistan, Mahir Binici in his comprehensive guest lecture at the Sustainable Development Policy Institute (SDPI), shed light on the evolving economic landscape across the MENA region and Pakistan, and reaffirming the Fund's continued support for Pakistan's economic and climate reform agenda. Addressing economists, researchers, and policy experts at SDPI, Binici stated that growth across the Middle East, North Africa (MENA) region, and Pakistan is expected to strengthen in 2025 and beyond. However, he cautioned that 'elevated trade tensions, geopolitical fragmentation, and weakening global cooperation continue to generate exceptional uncertainty and weigh on the global economic outlook,' underlining the urgent need for prudent and forward-looking policy actions. Aurangzeb says IMF case approved 'on merit' despite disruption attempts Focusing on Pakistan, Binici noted that the country's performance under the IMF's Extended Fund Facility (EFF) has been 'strong so far,' adding that the successful completion of the first review by the IMF Executive Board in May 2025 was a key milestone. 'Early policy measures have helped restore macroeconomic stability and rebuild investor confidence, despite persistent external challenges,' Binici remarked. He emphasized that structural reforms remain central to Pakistan's long-term economic sustainability, particularly reforms that strengthen tax equity, improve the business climate, and encourage private-sector-led investment. He also spotlighted Pakistan's progress on climate-related reforms under the IMF's Resilience and Sustainability Facility (RSF). According to Binici, the RSF is designed to help countries like Pakistan bolster resilience to climate-related vulnerabilities and meet international climate commitments. He mentioned that the key areas of reform under the RSF included enhancing public investment planning, promoting efficient and sustainable use of water resources, improving institutional coordination for disaster preparedness and financing, expanding the availability and transparency of climate-related data. Binici stressed that 'support through the RSF will not only strengthen Pakistan's climate resilience but also help unlock green investments and foster a more climate-conscious economic trajectory.' Dr Abid Qaiyum Suleri, Executive Director SDPI welcomed the IMF representative's outreach, noting the importance of informed economic dialogue and multilateral cooperation in Pakistan's journey toward sustainable development. The lecture concluded with an interactive discussion on fiscal and monetary policy frameworks, external buffers, and the role of international institutions in fostering inclusive growth. Copyright Business Recorder, 2025
Express Tribune
13-07-2025
- Business
- Express Tribune
IMF representative calls Pakistan's EFF performance 'strong'
IMF Pakistan's Representative Mahir Binici (left) at the Sustainable Development Policy Institute in Islamabad on July 13, 2025. Photo: APP The International Monetary Fund (IMF) has expressed satisfaction with Pakistan's economic progress, as its Resident Representative Mahir Binici described the country's performance under the Extended Fund Facility (EFF) as 'strong so far', Pakistan Television reported. 'Early policy measures have helped restore macroeconomic stability and rebuild investor confidence, despite persistent external challenges,' he said. Speaking during a guest lecture at the Sustainable Development Policy Institute (SDPI) on Sunday, Binici cited the successful completion of the first EFF review by the IMF Executive Board in May 2025 as a key milestone. Read More: Pakistan receives second IMF tranche of $1.02b Binici emphasised the importance of sustained structural reforms for Pakistan's long-term economic sustainability, especially in strengthening tax equity, improving the business environment, and encouraging private-sector-led investment. He noted that growth across the region is projected to strengthen in 2025 and beyond, but warned that geopolitical tensions, trade disruptions, and declining global cooperation continue to weigh on recovery efforts. The International Monetary Fund's Resident Representative for Pakistan, Mahir Binici has reaffirmed continued support for Pakistan's economic and climate reform agenda@IMFNews #RadioPakistan #News — Radio Pakistan (@RadioPakistan) July 13, 2025 Turning to climate resilience, Binici lauded Pakistan's efforts under the IMF's Resilience and Sustainability Facility (RSF), which supports countries addressing climate risks and meeting global environmental goals. Key RSF reforms for Pakistan include better public investment planning, efficient water resource management, disaster preparedness, and improved climate data infrastructure. 'Support through the RSF will not only strengthen Pakistan's climate resilience but also help unlock green investments and foster a more climate-conscious economic trajectory,' Binici said. SDPI Executive Director Dr Abid Qaiyum Suleri welcomed the IMF's ongoing engagement and highlighted the importance of dialogue and multilateral cooperation in promoting sustainable growth. Also Read: Delhi kisses the dust as IMF approves $2.4b Pakistan loan The session concluded with a policy discussion on fiscal and monetary frameworks, external financing buffers, and the evolving role of international institutions in supporting inclusive economic development. About 3 months ago, the IMF team had reached a staff-level agreement with the Pakistani authorities on the first review of the 37-month Extended Arrangement under the EFF, and on a new 28-month arrangement under the IMF's Resilience and Sustainability Facility (RSF) with total access over the 28 months of around $1.3 billion. Pakistan would continue fiscal consolidation to reduce public debt while creating space for social and development spending and reducing crowding out of private investment. Pakistan will also refrain from increasing current spending beyond that budgeted, indicating that no supplementary grants can be issued. The IMF's new climate facility is meant to scale up climate reform efforts to reduce vulnerabilities to natural disaster risks and to build climate resilience. In return for the loan, Pakistan has committed to strengthen public investment processes across all levels of government to prioritize projects that enhance disaster resilience, said Porter. The government will also improve the efficiency of scarce water resource usage, including through better pricing mechanisms, he added. Also Read: IMF approves $7 billion EFF programme for Pakistan It will enhance intergovernmental coordination on disaster financing; improve information architecture and disclosure of financial and corporate climate-related risks; and promote green mobility to mitigate significant pollution and adverse health impacts, said the IMF.
Arab News
13-07-2025
- Business
- Arab News
Pakistan's performance under $7 billion program has been ‘strong so far,' IMF representative says
ISLAMABAD: Mahir Binici, the International Monetary Fund (IMF) country representative for Pakistan, has described Islamabad's performance under a $7 billion IMF loan program as being 'strong so far,' the Islamabad-based Sustainable Development Policy Institute (SDPI) think tank said on Sunday. Binici said this in his guest lecture at the Institute, during which he shed light on the evolving economic landscape across the Middle East and North Africa (MENA) region and Pakistan. Pakistan narrowly avoided a sovereign default in mid-2023 thanks to a shorter $3 billion IMF facility. In Sept. last year, Islamabad secured the 37-month, $7 billion program after meeting targets under the previous arrangement. The IMF representative said Pakistan's successful completion of the first review of its loan program, secured last year, by the IMF executive board in May 2025 was a 'key milestone.' 'Early policy measures have helped restore macroeconomic stability and rebuild investor confidence, despite persistent external challenges,' Binici was quoted as saying in an SDPI statement. He, however, cautioned that 'elevated trade tensions, geopolitical fragmentation, and weakening global cooperation continue to generate exceptional uncertainty and weigh on the global economic outlook,' underlining the urgent need for prudent and forward-looking policy actions. 'Growth across the Middle East, North Africa (MENA) region, and Pakistan is expected to strengthen in 2025 and beyond,' Binici said. The IMF representative reaffirmed the global lender's continued support for Pakistan's economic and climate reforms agenda. 'Structural reforms remain central to Pakistan's long-term economic sustainability, particularly reforms that strengthen tax equity, improve the business climate, and encourage private-sector-led investment,' he said. Binici's comments came a day after Prime Minister Shehbaz Sharif defended his government's structural reform agenda, particularly in tax administration, saying that difficult and often unpopular decisions were necessary to rebuild national institutions as the country could no longer afford 'business as usual.' Speaking at a session of the Uraan Pakistan youth development program, he said his administration took on the 'onerous task' of stabilizing the economy under immense pressure, choosing to pursue long-delayed reforms rather than temporary fixes. 'Pakistan had to undertake these long-overdue, deep structural changes, if we had to find our lost place in the comity of nations through hard and untiring efforts,' he said. Sharif noted the transition from paper-based tax systems to digital and AI-led processes was already bearing fruit and his administration had prioritized accountability and removing senior revenue officials accused of corruption, resisting political pressure in doing so. 'It's a long and thorny journey,' he said, assuring merit would remain the cornerstone of his governance model. 'We are facing bumps on the way and mountain-like impediments. But I can assure you, we will not shy away from discharging our responsibility.'
