Mutual fund industry appreciates by 1.5pc

KARACHI: The local mutual funds industry appreciated by only 1.5 percent during the quarter ended on September 30, primarily due to the money market category performance, whereas other funds categories consistently showed a declining trend, according to the data compiled by InvestCap on Wednesday.

As on September 30, the local mutual funds industry stood at Rs202 billion, declining by 2.4 percent against the industry size as on June 30.

IMF board likely to meet mid-May on Pakistan

WASHINGTON: The International Monetary Fund's board will likely meet in mid-May to consider the next tranche of Pakistan's $11.3 billion loan, a source close to talks between IMF officials and Islamabad said on Friday.

Pakistani finance officials are in Washington this week for spring meetings of the IMF and are also talking to the World Bank and the Asian Development Bank over steps being taken to raise electricity tariffs and other taxes that are unpopular with the public and politically risky for the government.