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Pakistan's central bank on Thursday said that the country's current account posted a record surplus of USD 1.2 billion in March 2025, showing economic stability. Data released by the State Bank of Pakistan (SBP) showed that the surplus on a year-on-year basis surged 230 per cent from USD 363 million recorded in March 2024. The Express Tribune newspaper reported that according to brokerage firms Topline Securities and Arif Habib Limited, March 2025 marked the highest-ever monthly current account surplus in the country's history. The robust performance brought the cumulative current account surplus to USD 1.86 billion during the first nine months of FY202425, a sharp turnaround from a USD 1.65 billion deficit in the same period of the previous fiscal year. With oil prices down and remittances hitting record levels, Pakistan's current account is expected to remain in surplus through June FY25, and possibly into FY26, supporting overall investor confidence, said Khurram Schehzad, Advis
Government's social security body Employees' State Insurance Corporation (ESIC) on Sunday approved a proposal to invest its surplus funds in the stock market through exchange traded funds (ETFs). The decision was taken in the 189th meeting of ESIC held on Sunday at ESIC headquarters under the chairmanship of Union labour minister Bhupender Yadav, a labour ministry statement said. Due to relatively low returns on investments in various debt instruments coupled with the need to diversify investment, ESIC gave its approval for investments of surplus funds in equities restricted to ETFs. The investment will start with 5 per cent of surplus funds and will increase up to 15 per cent, based on the review of the investment after two quarters, it stated. The investment will be confined to Exchanged Traded Funds on Nifty and Sensex. It will be managed by fund managers of asset management companies (AMSs), the statement said. Equity investments will be monitored by the existing custodian, ..