Finance minister Miftah Ismail’s pre-budget meeting with media has raised some serious questions for nation. IMF program is still on hold making it difficult for PSX to restore investors confidence.
Miftah Ismail has dismissed any rumours regarding a rise in petrol prices, claiming that he did not mention any more increases in petrol rates at his recent pre-budget media briefing.
The halted IMF program will presumably resume following the introduction of the budget on Friday, June 10th. This year’s budget will be challenging fiscally, and subsidies will be curtailed to some extent.
The stock market remained negative today, with activity volume down to 16 % and inflows from abroad Pakistanis into Roshan digital accounts down 23 percent in May following a plummeted Pakistani rupee to all time low of 202.83 in the interbank market.
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