PSX recovers 2000 points today Amid IMF Program Review Approval

The Pakistan Stock Exchange today witnessed a recovery due to the IMF's approval of Pakistan's loan today in the US. Yesterday, the Pakistan Stock Exchange witnessed a bearish trend, and PSX points fell to more than 5000 points due to Pakistan and India tensions. India yesterday and today send drones into Pakistan, which are anti-radar drones, and they are used to jam air defense systems. However, the Pakistani army successfully traced all the drones, and they shot them. 

Of course, whenever there is a tense situation, any country's stock exchange is bound to collapse, especially Pakistan's, as it is a fact that Pakistan's economy is not up to the level of India or China. It is a fact that Pakistan did not focus on economic reforms and how to make Pakistan an investment-friendly and industrialized nation. This is the reason why Pakistan always has to look towards the IMF program for a bailout package and to pay for its external debt. However, it is also a fact that the Pakistani army is one of the strongest armies in the world. 

Today, it is expected that the IMF will approve Pakistan's first review of its loan, and the climate-based IMF loan will be approved by today. This is the reason why today's stock market does not focus on the Pakistan and India situation. Moreover, investors' focus today is only on the IMF program and its approval. Additionally, it is expected that Pakistan's exports for the month of May will rise to a substantial level and remittances as well to achieve a sustainable current account surplus. It is expected that this month Pakistan will have a large current account deficit.