Here is a list of the IPPs and their respective amounts
According to experts, the news comes as investors prepare to hear the IMF’s Executive Board approve the loan at a meeting later this week.
A $3 billion loan programme will be discussed at the IMF Executive Board meeting on Pakistan on July 12, the lender informed media via email on Wednesday evening.
Last Monday, Pakistan received staff-level approval from the IMF.
According to information provided by the State Bank of Pakistan (SBP), the Pakistani rupee marginally appreciated versus the US dollar on Thursday in the inter-bank market, rising 0.13%.
Banking (160.19 points), oil and gas exploration (120.42 points), and cement (78.86 points) were the sectors that drove the benchmark index higher.
All-share index volume decreased to 297.8 million from
According to Rao Aamir Ali of brokerage firm Arif Habib Limited (AHL), in a report on Wednesday, the development is in line with the International Monetary Fund’s (IMF) recommendation of reforms and advancement in the energy sector in a recently signed staff-level agreement for an SBA facility totaling $3 billion.
One of the main objectives of the Washington-based lender has been the control of the spiralling circular debt, particularly in the electricity industry.
The authorities’ programme also includes ongoing initiatives to increase the energy sector’s viability, including through a timely FY24 annual report.
The Pakistan Stock Exchange (PSX) experienced another bullish run on Thursday as the benchmark KSE-100 Index ended well over the 44,000 level—widely regarded as a resistance barrier earlier in the week—bolstered by developments on the International Monetary Fund (IMF) front.
The index has now closed over the 44,000 mark for the first time since May 2022.
Some auto assemblers stayed in the red, while index-heavy industries like banking, cement, chemical, communications, oil and gas exploration businesses, as well as OMCs, settled in the green.
The index had earlier in the day been unable to maintain the level over 44,000 and had fallen to about the 43,900-point level. But bulls came back, assisting the KSE-100 to close at 44,178.85, a rise of 626.01 points.
According to experts, the news comes as investors prepare to hear the IMF’s Executive Board approve the loan at a meeting later this week.
A $3 billion loan programme will be discussed at the IMF Executive Board meeting on Pakistan on July 12, the lender informed media via email on Wednesday evening.
Last Monday, Pakistan received staff-level approval from the IMF.
According to information provided by the State Bank of Pakistan (SBP), the Pakistani rupee marginally appreciated versus the US dollar on Thursday in the inter-bank market, rising 0.13%.
Banking (160.19 points), oil and gas exploration (120.42 points), and cement (78.86 points) were the sectors that drove the benchmark index higher.
All-share index volume decreased to 297.8 million from
