KARACHI: Pakistan Stock Market (PSX) boosted on Friday after the Prime Minister gave a signal regarding International Monetary Fund’s (IMF) deal, the KSE-100 index geared up by more than 290 points.
In an inauguration ceremony of Hazara Electric supply company Shehbaz Sharif said, the IMF’s delegation was slated to visit Pakistan in 2-3 days to “take up and finalize” the ninth review of the economy to unstick a direly needed bailout tranche of $1.1 billion.
The Managing Director and CEO of Arif Habib commodities Ahsan Mehanti, linked the new jack-up with the Premier’s address and said the statement of Sharif settled down the foam of fears regarding default.
However, he said the visit of the Chief of Army Staff (COAS) General Asim Munir to UAE seems to impose positive impacts on the market, while CPEC dialogues will pay the vital to persist the earning season.
Meanwhile, The last day of the commercial week closed with good gains during session KSE-100 index fueled up by 290.78 points and stood at the benchmark of 41,007.52 points, which means 0.71% increase has detected during the session.
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