Uncertainties over IMF disbursements, Pakistani currency has fallen to an all-time low. Investors should steer clear!

The IMF’s third bailout loan is still delayed, clamping down on Pakistan’s currency.

Asia’s best performing market in 2020 has suddenly become Asia’s second worst performing market after Sri Lanka, with an abnormal spike in global commodity prices. The significant volatility in the rupee-dollar parity has remained the primary cause for foreigners’ exodus from the local marketplace, as the dollar has risen to Rs.205 in the international market, negatively hurting their investments.

In the midst of IMF crisis, former PTI leader and national assembly member Jahangir Tareen revealed some startling data on the country’s 40-years high rate of inflation. According to sources, he has indicated that gasoline prices might jump up to 310 rupees per liter in the next days, and natural gas expenses could rise 400 percent.

Due to the present crisis and speculations, despite a 55 point gap up opening of the 100 index, the first post-budget market session did not proceed as planned, and the KSE-100 index fell 1135 points at closing. Except for car assemblers, the stock market remained bearish across the board.

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