Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index on Thursday lost 613 points.
The impending risk of default and the delay in the distribution of the loan installment from the International Monetary Fund have damaged investor confidence.
In 2019, Pakistan signed up for a $7 billion IMF program, which was earlier boosted to $6 billion. The government and IMF are currently holding remote negotiations to release $1.18 billion while the ninth review of the program is still pending.
On November 18, Pakistan and the IMF held a round of negotiations but were unable to agree on a timetable for formal discussions on the past-due ninth review.
The benchmark KSE-100 index for the Pakistan Stock Exchange (PSX) is now trading at 41,124 points.
On November 18, Pakistan and the IMF held a round of negotiations but were unable to agree on a timetable for formal discussions on the past-due ninth review.
The benchmark KSE-100 index for the Pakistan Stock Exchange (PSX) is now trading at 41,124 points.
Market analysts claim that investors stayed away because of the prevailing unfavorable economic feelings and political unrest. Workers’ remittances decline by 14pc in November: SBP
Remittances from Pakistani employees living abroad were falling, reaching a new low of $2.108 billion in November 2022, a 14.3 percent decrease from the previous year.
State Bank of Pakistan (SBP) figures show that in comparison to $2.460 billion in the same month last year, remittances from Pakistanis working abroad totaled $2.108 billion in November 2022.
Additionally, the November influx represents a third straight month-over-month fall. The remittances, which totaled $ 2.215 billion in October 2022, decreased 4.8% month over month.
