Downbeat earnings, dismal policy outlook drag PSX lower

Downbeat earnings, dismal policy outlook drag PSX lower



Stocks fell on Wednesday at the Pakistan Stock Exchange, with the KSE-100 Index closing down 0.48% due to weak corporate earnings and economic uncertainty. The index fluctuated throughout the day, hitting a high of 112,569.89 before closing at 111,487.36. The Finance Minister reaffirmed the government’s commitment to the IMF program, while the SBP Governor mentioned the possibility of further monetary easing due to cooling inflation. The FBR revealed concerning data about Pakistan’s narrow tax base, with a high percentage of tax returns declaring zero taxable income. Analysts project an increase in foreign exchange reserves and anticipate an IMF review in March.





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