After the defeat of PM Khan in the no-trust move, the market analysts were expecting further surge in the trading of shares amid the regime-changing scenario.
Economy
The EU’s contemplation of a ban on Russian oil, following its proposal to embargo Russian coal, will keep oil prices from falling for the foreseeable future
With the passage of time, dollar is shedding more value after restoration of National Assembly by the Supreme Court of Pakistan
Pakistani currency is expected to gain more value in the days ahead after political uncertainty vanishes in the wake of no-confidence voting being held tomorrow (April 9).
Since April 3, dollar-rupee exchange rate hit 190 rupees in the open market from earlier 179 to 180 rupees exchange rate. Thus, stock market and rupee were on the forefront in facing blow of the dismissal of the democratic system in the country.
The ADB 2022 predicts that Pakistan’s GDP growth would drop to 4% in FY2022 as the government works to minimise the current account deficit, increase international reserves, and control inflation.
The dollar reached an all-time high of Rs188.3 compared to Rs185.23 the day before.
SBP had written a letter to the Oil and Gas Regulatory Authority (OGRA), stating that the local banks are willing to support the OMCs’ credit requirements, subject to their positive credit due diligence.