Pakistan’s stock market witnessed a significant boost as the KSE-100 index surged over 1,000 points in a single session, reaching its highest level in over two months. This growth comes following encouraging updates from the International Monetary Fund (IMF) about its ongoing review of Pakistan’s $7 billion loan program.
Stock analysts predict even greater progress, suggesting the index could climb to 123,000 points by June if the country successfully navigates the IMF review. According to Sana Tawfik, Head of Research at Arif Habib Ltd., the positive momentum not only stems from optimism surrounding the IMF but also reflects stronger investor sentiment.
The IMF’s recent statement acknowledged “significant progress” in discussions with Pakistan. Despite no formal agreement yet, talks focus on economic reforms and climate resilience funding of $1.5 billion. Analysts credit Monday’s rally to companies like Mari Energies, Oil & Gas Development Co., and Lucky Cement, which collectively boosted the market significantly. Additionally, government efforts to resolve longstanding power sector debts have contributed to market confidence.
This development marks a hopeful milestone, as Pakistan balances its reforms and strives to restore economic stability through sustained collaborations with international lenders.
