KARACHI: The Pakistan Stock Exchange (PSE) is witnessing a sharp decline on the first day of trading.
The Pakistan Stock Exchange (PSE) has been witnessing a
sharp decline since the first day of trading.
On the last day of last week, the index closed at 43,486
points, while today the 100 index is trading at 42,424, down more than 1,000
points. Read also: Government's important decision regarding petrol price On
the other hand, the dollar is also flying high and in the interbank market, the
dollar has gone up by another Rs 47 paise to Rs 194.
Earlier in the day, Finance Minister Muftah Ismail had
announced that the government was not raising petrol prices.
Meanwhile, former Prime Minister and senior vice
president of PML-N Shahid Khaqan Abbasi has said in a statement that we are
trying to minimize the burden of IMF agreements on the people while the dollar
is related to the economy. If the economy weakens, the dollar will rise.
It should be noted that the present coalition government
is also failing to keep the dollar stable and the continuous depreciation of
the rupee has led to a rise in food prices. Therefore, subsidy on petrol has
become a very important issue.
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