PSX shows recovery; up by over 600 points

KARACHI: Amid the expectations of the International Monetary Funds releasing the much-needed $1 billion tranche soon, the Pakistan Stock Exchange’s benchmark index KSE-100 showed some recovery by going up by over 600 points here on Monday morning.

The PSX has recorded a recovery after witnessing a bloodbath on Friday when it lost over 2,000 points in the wake of super-tax being imposed on several sectors. Pakistan has been battling on the economic front for a long time.

With China having already credited $2.3b into State Bank of Pakistan’s account and another $1b on the way from IMF, the country no longer faces the threat of going bankrupt.

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