100-Index witnesses an upward trajectory as it surged by 1,299 points and reached 119, 273 points and marked its highest level ever
KARACHI: (UrduPoint/Pakistan Point News-March 20th, 2025) A positive trend persisted in pakistan stock exchange (psx) as the 100-Index reached a new all-time high on Thursday.
From the beginning of the day’s trading session, the 100 Index witnessed an upward trajectory. At one point, it surged by 1,299 points, reached 119,273 points and marked its highest level ever.
It may be mentioned here that yesterday, the 100 Index closed at 117,974 points and gained 972 points by the end of the trading session.
During the day, the index had reached a high of 118,243 points.
Earlier, the International Monetary Fund (IMF) shared a draft of the Memorandum of Economic and Financial Policies (MEFP) with the Government of Pakistan to build consensus. This development could pave the way for a staff-level agreement under the $7 billion Extended Fund Facility (EFF).
The IMF has shown willingness to provide some relief for the construction and real estate sectors, but it remains unclear whether these incentives will be implemented immediately or included in the upcoming FY 2025-26 budget.
Talks between Pakistan and the IMF concluded last Friday, but a staff-level agreement was not reached. This agreement is essential before Islamabad can formally request the IMF Executive board to release the $1 billion tranche.
The IMF’s draft MEFP includes strict conditions to ensure fiscal discipline.
On one hand, the Federal Board of Revenue’s (FBR) tax collection target has been reduced.
On the other hand, expenditure cuts have been introduced to achieve the Primary surplus target agreed upon with the IMF for the current fiscal year.
