Karachi – The Pakistan Stock Exchange (PSX) commenced the second day of the business week on a positive note and set another record as discussions for a new bailout package amid reduced inflation and optimism regarding revenue from various sources are underway.
During the early trading session until 10:39 AM, the KSE-100 index surged by 731.15 points, reaching 74,530.26 points. Just a day prior, it closed at 73,799.11 points after briefly surpassing the 74,000 mark.
As Islamabad eyes a significant and prolonged bailout package to stabilize and revitalize its economy,
both Pakistan and the International Monetary Fund have initiated discussions not only regarding the facility itself but also on seasonal financial implications.
Both parties have also agreed on crucial targets for the upcoming budget, indicating inclusion of timely repayment of external debts among other things.
In Washington, a team representing the world’s largest financial institution is conducting negotiations,
led by the mission chief for Pakistan, Nathan Porter, with expectations that the process will take about two weeks.
In this context, Finance Minister Mohammad Orangzaib and other members of the economic team briefed the IMF mission on meeting the specified conditions based on current circumstances and the terms of the previous bailout.
