The equity market opened the week under pressure, sliding at the start of the session while investors reacted to the government’s decision to delay the federal budget and continuous ambiguity surrounding the main tax conditions under discussion with the International Monetary Fund (IMF).
Pakistan Pakistan Benchmark KSE-100 index of Pakistan Pakistan has climbed an intraday summit of 119,290.94 points, winning 188.27 points, or 0.16%, compared to the previous fence of 119102.67, before withdrawing at a minimum of 118.150.27 points, down 952.40 -0.80%.
“Delay in the budgetary announcement and the lack of clarity on the conditions of the IMF linked to the budget pushing investors to reduce their exposure,” said Muhammad Sohail, CEO of Topline Securities, said Geo.tv.
The federal government reprogrammed the presentation of the budget from 2025-2026 to June 10, by passing it from the date scheduled for June 2, while the talks with the IMF on income and expenditure objectives remain unresolved.
The Economic Survey FY2025, an instantaneous economic performance of the outgoing year, will be published on June 9, according to the Ministry of Finance.
The IMF, which concluded its visit to the level of staff in Islamabad, said that discussions on the tax framework of Pakistan for financial year 26 would continue in the coming days.
Friday, the market had closed with a marginal loss of 50.37 points, or -0.04%, at 119,102.67, after exchanging between 119,542.52 and 118,665.26 points.