In response to Finance Minister Ishaq Dar’s pledge that Pakistan will not request debt restructuring from the Paris club, the bulls staged a comeback at the Pakistan Stock Exchange (PSX) on Monday.Market participants were lured by repeated promises from Pakistan’s top leadership that the country would not request a debt restructure from Paris Club creditor nations.
Dar also denied market rumours that the government may postpone the maturity dates for its bonds, reiterating that the nation would honour all of its multilateral, international, and bond obligations.The benchmark KSE-100 index fluctuated between optimism and pessimism, letting loose the bulls who eventually moved the stock exchange into the green.Investors closely monitored the State Bank of Pakistan’s monetary policy decision, which was ultimately maintained at 15% for the ensuing seven weeks.
