During the week ended on July 12, 2024 Pakistan Stock Exchange remained volatile due to uncertainty surrounding the Supreme Court’s verdict on reserved seats. The benchmark index closed at 79,944 points on Friday with a loss of 269 points or 0.33%WoW.
However, despite the verdict announced on Friday being in favor of the opposition party, the market managed to hold its ground.
On negotiations with IMF, the lender of last resort demanded the abolition of Sovereign Wealth Fund (PSWF) along with the implementation of 45% tax on agriculture income.
Prime Minister’s announcement of a PKR50 billion subsidy for residential consumers of up to 200 units has yet to elicit a response........