Karachi, February 01, 2020: Pakistan equities closed the week at 41,630 levels, losing a further 2.4 percent WoW as material triggers remained elusive. The country’s political landscape appeared to be in limbo as friction within members of the ruling PTI piled on pressure from the opposition and provincial governments.
The world beyond our borders seemed no less in control as the corona virus took its toll on global equity markets and international oil prices. It is no wonder then that investor participation remained dull with average daily traded value declining by 11 percent WoW to US$46 million.
With regards to FATF, while media reports indicate substantial progress has been made, the Minister for Economic Affairs believes that it is premature to speculate.
Furthermore, the IMF is due to start talks with Pakistan on the second review next week. In the latest MPC meetings, the policy rate was left unchanged at 13.25 percent.
