On Friday, the Pakistan Stock Exchange (PSX) achieved a significant milestone as its benchmark KSE-100 index surpassed the 53,000-point mark. The index rose by 378.58 points, or 0.72% to reach 53,035.34 points, up from the previous 52,656.76 points.
The market experienced gains following the State Bank of Pakistan’s decision to maintain its policy rate at 7% as part of efforts to control inflation, which aligned with the expectations of most analysts.
IMF Appreciates Pakistan’s Efforts To Complete First-Quarter Targets Set Under The Stand-By Arrangement
In another development, the Pakistan government’s pursuit of a second tranche of a $710 million loan under the current $3 billion Stand-By Arrangement received a commendation from the International Monetary Fund (IMF) review mission for its first-quarter efforts.
In a statement, the finance ministry announced that Mr. Nathan Porter, IMF Mission Chief, acknowledged the government’s dedication to meeting first-quarter targets and praised the government’s proactive measures in critical areas.
Caretaker Federal Finance Minister Shamshad Akhtar engaged in discussions with the IMF review mission led by IMF Chief Nathan Porter at the Finance Division. In attendance were IMF Resident Representative Esther Perez Ruiz, SBP Governor Jamil Ahmed, the FBR Chairman, SECP Chairman, the Finance Secretary, members of the IMF delegation, and senior officials from the Finance Division.
Porter emphasized the importance of sustaining efforts to ensure the country’s economic stability remains on track. Akhtar provided the mission with insights into the government’s fiscal measures designed to enhance the economic situation. The discussions also encompassed comprehensive reforms and initiatives carried out by the FBR, along with the government’s strategies to tackle the circular debt issue.
The finance minister expressed her gratitude for the IMF’s ongoing support and assistance, reiterating the government’s commitment to working closely with the IMF to successfully complete the Stand-By Arrangement and attain the nation’s economic objectives.
