On Monday, Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index heightened more than 1,200 points in intraday trading to cross the 45,000-point mark. It happened due to the cabinet’s approval to refurbish Saudi Arabia’s $3 billion support package for Pakistan in safe deposits and $1.2bn worth of oil supplies on deferred payments. “It is expected that the reduction in prices of crude oil will continue, which will help us reduce our current account deficit as well as inflation and reduce the continuous pressure on rupee,” Salman Naqvi, head of research at Aba Ali Habib Securities stated.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Muslim student confronts Indian teacher for calling him a ‘terrorist’

On Monday, a Muslim student at the Manipal University in India’s Karnataka…

Lebanon’s President condemns Israel’s strike on southern Beirut

Lebanese President Joseph Aoun condemned an Israeli strike on Beirut’s southern suburbs,…

Turkey prepared to treat injured Palestinians at hospitals: Erdogan

Turkey made preparations to treat injured Palestinians and patients with chronic illnesses…

Saudi Arabia sends more aid shipments to Gaza

Saudi Arabia is sending more aid to Gaza, from the King Abdulaziz…