In Pakistan, petrol prices set a new high record, rising by 24.03 percent third time in a month.
Finance Minister Miftah Ismail announced another increase in fuel prices, bringing the price to an all-time high of 233.89, while noting that it was unavoidable due to IMF demands, and that the government can no longer sustain subsidies on petroleum goods.
However, PSX is rallying steadily, and investors’ involvement has improved. According to reports, the positive impact of the PSX might be attributed to China’s expected 2.8 billion financial contributions to Pakistan by November. China has also extended Pakistan’s debt payback period for the 2.3 billion loan repayment.
In keeping with our market forecast from yesterday, KSE 100 index gained 384 points and closed at 41,438.79, indicating increased market participation.
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