Shares slide at PSX despite Dar’s assurances

KARACHI: Despite the Finance Minister Ishaq Dar assuring the investors at the Pakistan Stock Exchange that the country won’t default, the share market saw a downward trend for the second consecutive day after it lost 456 points here on Wednesday.

Experts have attributed the decline to economic instability, the delay in the ninth review of the International Monetary Funds and the ever-falling exchange reserves. The country’s leading benchmark index, KSE-100 recorded 39,346.63 points after losing 1.15 per cent of the points.

While the economic experts believe it is the right move by the government to come out in public and assure the people that the country won’t default, it would need more than assurances to win back the lost confidence. It is also pertinent to mention here that dollars have vanished from the open market amidst the threat of a looming economic default.

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