The Pakistan Stock Exchange’s benchmark index gained 232 points on Monday, following the International Monetary Fund’s “constructive meeting” over the bailout package with Pakistan last week.
According to the PSX website, the KSE-100 index closed at 94,995.67 points as compared to 94,763.64 points on the last trading day.
A total of 765,206,618 shares were traded during the day as compared to 893,170,249 shares the previous trading day, whereas the price of shares stood at Rs23.924 billion against Rs30.811 billion on the last trading day, according to the state-run Associated Press of Pakistan.
As many as 457 companies transacted their shares in the stock market, 192 of them recorded gains and 220 sustained losses, whereas the share price of 45 companies remained unchanged.
In recent weeks, the Pakistan Stock Exchange has demonstrated a consistent upward trend, setting new trading records throughout this period.
In its statement, IMF mission chief Nathan Porter said that the Fund had “constructive discussions” with the authorities on their economic policy and reform efforts to reduce vulnerabilities and lay the basis for stronger and sustainable growth.
The two sides agreed with the need to continue prudent fiscal and monetary policies, revenue mobilisation from untapped tax bases, while transferring greater social and development responsibilities to provinces, it added.
“In addition, structural energy reforms and constructive efforts are critical to restore the sector’s viability,” he said.
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On Sunday evening, Finance Minister Muhammad Aurangzeb addressed the nation in a live address. He spoke about his meetings with IMF officials.
“There was nothing to hide in the International Monetary Fund mission’s visit to Pakistan,” he said, “I have welcomed this visit because we have an ongoing dialogue as mutual trust and dialogue is made by dialogue.”.
Aurangzeb, a former banker, said that the two sides discussed reforms in taxation, energy, and state-owned enterprises. Privatisation and public finance were also on the agenda. He added that all such things were already known to the people.
