The benchmark KSE-100 index closed at 82,247.91 points, up 764.27 points, or 0.94 percent, from the previous finish of 81,483.64 points.
The market’s surge was ascribed to anticipation that the IMF program will be approved, according to Yousuf M. Farooq, director of research at Chase Securities.
He continued, “In addition, secondary market yields are declining, the current account is under control, and the economy is heading towards stability.”
In July, a $7 billion aid package for three years was agreed upon by Pakistan and the IMF. Pakistan should be able to “cement macroeconomic stability and create conditions for stronger, more inclusive and resilient growth” with the help of the new program, which the Fund’s Executive Board must approve today.
The government is still “very hopeful” about the Fund’s prospects, according to Finance Minister Muhammad Aurangzeb’s earlier comments.
