KARACHI – Polling exercises ended in Pakistan at 5pm on Thursday but the results continue to pour in as a nation of 240 million awaits outcomes of 2024 general polls with the hope of change and now global credit ratings agency, Moody’s linked timely announcement of election results with less political uncertainty.
In a statement, Moody said timely announcement of results led to smooth formation of a new government that will reduce policy and political uncertainty.
It said election results need to come out timely as the nation is facing macroeconomic conditions, with fragile balance of payments, weak growth and high inflation.
Linking timely results with political stability, the top credit ratings agency points out doubts about the credibility of electoral process, especially amid absence of a prominent political entity.
Amid the delay, experts expressed predictions that the ground was set for a political party, that is said to be favorite to rule the country.
To surprise of many, independent candidates affiliated with Imran Khan’s Pakistan Tehreek e Insaf are in strong position ahead of their rival candidates in several seats.
Amid the uncertainty, Pakistan’s sovereign dollar bonds plunged, with September 2025 bond touching down to 85 cents.
Furthermore, KSE-100 index also lost over 2,000 points before making some inroads during the post-election trading session.
PSX loses 931 points on political uncertainty, foreign selling
