Pakistan’s flour is wet in Bengali, chaos in the stock market, now the whole country is on the mercy of IMF

New Delhi. The major index of Pakistan Stock Exchange (PSX) KSE-100 lost 1378.54 points or 3.47 to close at 38342.21 on Tuesday. This is the biggest decline since June 2022. In the day’s trade, the index had lost 1,432.94 points to reach its lowest level of 38,287.81. Actually, Pakistan’s market was already facing pressure due to political instability in the country, in the meantime, news of delay in the government’s agreement with the IMF came to the fore. Both these factors badly affected the market and the shareholders started selling shares in a big way.

In a news published on the website of Pakistan newspaper DAWN, quoting a stock market expert, it has been written that the complex situation of the IMF, its withdrawal from exchange rate management and increased gas prices have played an important role in accelerating this sell-off. played. Don has also written that the market probably also realized that the Monetary Policy Committee (MPC) of the Central Bank would increase the interest rates. Due to this also the pressure on the market increased.

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IMF demand
Siddiqui Dalal, CEO of Dalal Securities, told that the IMF has allegedly demanded that the price of electricity and gas be increased, the rate of petrol be increased and additional taxes be imposed. Apart from this, he also expressed concern that if the way political instability is spread in the country, if the parliament is dissolved and a caretaker government is installed, then how will the talks with the IMF be successful. Explain that if Pakistan does not accept the above conditions, then the $ 1 billion financial aid it gets from the IMF under the Extended Fund Facility (EFF) may be in danger.

Political upheaval in Punjab and Khyber Pakhtunkhwa
The assembly has been dissolved in the province of Punjab in Pakistan. So far no one has been made the temporary chief minister there. Apart from this, the Chief Minister of Khyber Pakhtunkhwa province Mahmood Khan can also send a letter to the governor with a request to dissolve the assembly. Pakistan’s forex reserve has reached a very bad condition. Pakistan’s foreign exchange reserves currently stand at $4.34 billion, the lowest since February 2014. Let us tell you that today the stock market of India has closed with an increase.

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