KARACHI – Pakistan Stock Exchange (PSX) opened the second day of the running business week on positive note and set another record as investors seems confident amid decreasing inflation and talks with IMF for new bailout package.
In the early trading session till 10:39 am, the KSE-100 index has gained 731.15 points to reach 74,530.26 points for the historic first. A day earlier, it closed at 73,799.11 points after briefly surpassing the 74,000 level.
As Islamabad eyes a bigger and longer bailout package to stabilise and revive its economy, Pakistan and the International Monetary Fund started talks on Monday not on only Extended Fund Facility but also climate financing.
On the other hand, the two sides have agreed on the important targets set for the upcoming budget, sources say, which includes timely repayment of external debt repayments.
The Washington-based world’s top financial institution is represented by a team led by Nathan Porter, the IMF’s Mission Chief to Pakistan, a process that is expected to take two weeks.
In this connection, Finance Minister Muhammad Aurangzeb and other economic team members briefed the IMF mission on current state of affairs, including the previous terms and meeting the terms and conditions set by the lender previously.
