PSX goes bullish after IMF’s nod to bailout package for Pakistan

LAHORE (92 News) - The Pakistan Stock Exchange (PSX) on Thursday witnessed a bullish trend as the benchmark KSE-100 index hit the 82,905.73 points mark on the fourth day of the business week.

Economic experts linked the bullish trend at the PSX to the IMF’s nod to a $7 billion worth bailout package for Pakistan to help the country improve its struggling economy.

The International Monetary Fund (IMF) executive board late Wednesday approved a $7 billion bailout package for Pakistan.

While approving the package, the IMF board pointed out flaws in the Pakistani policies and also made suggestions to further cement the economic conditions.

The IMF board told Pakistan that a difficult business environment, weak governance, and an oversized role of the state hindered investment.

In a statement, the IMF board said that the three-year programme would require sound policies and reforms to support Pakistan’s ongoing efforts to strengthen its economy and create conditions for a stronger, more inclusive, and resilient growth.