South Asia Economic Update
Pakistan breaches IMF gas tariff benchmarks while oilseed output slumps, as Sri Lanka's Colombo bourse extends its recent equity uptrend.
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- MARKETPakistan misses IMF gas tariff deadline, raising program compliance risks
Failure to notify semi-annual adjustments by July 1 breaches a structural benchmark under the $7bn EFF, complicating Islamabad's efforts to maintain cost-recovery levels.
- MARKET014990.KS (014990.KS)
▲ 4.01% close $1532.00 from $1473.00
- MARKETPakistan oilseed output slump blamed on federalism reforms
Domestic production has fallen from covering 30% of edible oil needs, widening import dependence and trade deficits.
- MARKETColombo bourse opens higher after delayed auction
Sri Lanka's All Share Price Index gained 0.29% on Wednesday following a late start to trading, extending a recent uptrend in local equities.