As international investors continued to sell up their interests, the severe terms imposed by the International Monetary Fund on the $7 billion bailout and the warlike circumstances in the Middle East also had an impact.
The stock market remained weak in the first two months of the current fiscal year, according to Ahsan Mehanti of Arif Habib Corporation, due to growing political unpredictability and significant dollar outflows.
The government’s tariff on independent power producers, worries about the impact of a shortage in tax revenue, and the slow pace of privatization of state-owned businesses, he continued, were further factors that fueled the bearish closing at the PSX.
