For the first time in stock history, the Pakistan Stock Exchange (PSX) KSE-100 surpassed the 57,000 barrier with a 422 point gain on Thursday, sustaining the trend.
The US dollar has also lost strength against the Pakistani rupee in interbank trading, falling by Rs1.14 to Rs299.14 paisas.
Pakistan successfully noted a staff-level agreement (SLA) with the International Monetary Fund (IMF) on Wednesday.
The deal, which is subject to approval by the IMF’s Executive Board, represents a significant step forward in the implementation of Pakistan’s economic program, which is supported by a $3 billion (SDR 2,250 million) IMF Stand-By Arrangement (SBA).
Following approval, Pakistan will receive around US$700 million (SDR 528 million), bringing the total disbursements under the program to nearly US$1.9 billion.
