The Pakistan Stock Exchange (PSX) opened on a positive note, with the KSE-100 index rising by more than 550 points, reaching 82,800 points. This boost in the market comes after the International Monetary Fund (IMF) approved a $7 billion bailout package for Pakistan, which has brought new hope to the country’s struggling economy.
The stock market showed strength, currently standing at 82,797.17 points, marking a 0.67% increase. Earlier in the day, the index hit a high of 82,905.73 points and a low of 82,699.17 points. Investors responded positively to the IMF’s decision, which is seen as a lifeline for Pakistan’s financial stability.
The IMF bailout package was granted after Pakistan committed to implementing tough fiscal measures, such as increasing tax collections, which have been unpopular among the public. These steps were necessary due to the severe economic challenges the country is facing, including rising inflation, a weakening currency, and a large fiscal deficit.
Prime Minister Shehbaz Sharif emphasized the importance of the bailout, calling it crucial for tackling Pakistan’s immediate economic problems. He acknowledged that while the required measures may be difficult, they are essential to stabilize the economy and restore confidence among investors and international partners.
The positive performance of the stock market reflects growing optimism among investors, as they believe the IMF package will help strengthen the country’s financial outlook. Despite the tough road ahead, this development offers some relief to Pakistan as it works toward economic recovery.
