Pakistan stock exchange down by 613 points, investor’s confidence shaken

Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index on Thursday lost 613 points, sources reported.

Investors’ confidence is shaken after the looming risk of default and delay in the transfer of a loan tranche from the International Monetary Fund.

Pakistan entered a $6 billion IMF programme in 2019, which was increased to $7 billion earlier this year.

The programme’s ninth review is currently pending, with remote talks being held between IMF officials and the government for the release of $1.18 billion.

Pakistan and the IMF had a round of engagement on November 18 but could not finalise a schedule for formal talks on the overdue ninth review.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index is currently trading at 41,124 points.