After yesterday’s panic sell-off, the PSX 100 index recovered somewhat in line with global stocks, closing at 41,055 levels.
The dollar has been gradually rising against the Pakistani rupee, putting extra burden on the country’s economy; today’s dollar rate is reportedly Rs. 205 on the interbank market.
The IMF has once again delayed its bailout disbursement, this time demanding more! To meet IMF demands, the government plans to raise gasoline, fuel, and power costs while slashing subsidies completely.
However, the Pakistan stock market has experienced a modest comeback in the 100 index. After yesterday’s panic sell-off, the PSX 100 index recovered somewhat in line with global stocks, adding 175 points today to close at 41,055 levels.
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