The Pakistan Stock Exchange continued to break records by crossing 60,000 points for the first time in its history on Tuesday.
The market gained 680 points to reach 60,500 points as trading began on Tuesday.
The market recovered to the 53,000-point mark in early November after a gap of six years, till then its highest level in history.
Since then, each 1,000-point mark has set a new record for the market.
In addition to the IMF deal, analysts have attributed the performance of the market to fiscal discipline by the government as well as a clampdown on the smuggling and manipulation of the dollar.
It is also worth mentioning here that the United Arab Emirates would invest more than $20 billion in Pakistan, according to a statement, as the South Asian country seeks investment from friendly countries to boost its economy.
The development came during a visit of Pakistan’s delegation led by caretaker Prime Minister Anwaarul Haq Kakar to the Gulf country. Chief of Army Staff General Asim Munir was also present. They met with UAE President Sheikh Mohamed bin Zayed Al Nahyan.
The two sides signed the MoUs pertaining to investment cooperation in the sectors of energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services.
This investment would pave the way for economic stability in Pakistan, it said and added that the investment would also help fulfill various initiatives under the Special Investment Facilitation Council.
