KARACHI – The Pakistan Stock Exchange continued upward trajectory as KSE-100 index went up by 521 points to cross the 47,000 points level for the first time after 21 months during Thursday’s trading session.
The benchmark index reached 47,024 points after witnessing 1.12percent increase during intraday session. The last above 47,000 level was seen in November 2021.
The market has gained 5,751 points (+13.9%) since the International Monetary Fund (IMF) reached the Staff-level Agreement with Pakistan on a US$3 billion Stand-By Arrangement (SBA).
The new SBA will support the authorities’ immediate efforts to stabilize the economy from recent external shocks, preserve macroeconomic stability and provide a framework for financing from multilateral and bilateral partners. The new SBA will also create space for social and development spending through improved domestic revenue mobilization and careful spending execution to help address the needs of the Pakistani people.
https://en.dailypakistan.com.pk/30-Jun-2023/imf-reaches-staff-level-agreement-with-pakistan-on-dollar-3-billion-loan-tranche
