Sunday, June 26, 2022

PSX lost 3,596 points during PM Shehbaz Sharif govt


ISLAMABAD: Clueless Pakistan Muslim League-Nawaz lacks a plan to steer the country out of the present economic crisis as the PSX lost 3,596 points during the tenure of PM Shehbaz Sharif’s government, ARY News reported.

The country’s economic woes becoming deeper as the PML-N government has failed to deliver to the masses after coming into power. The PML-N used to make tall claims before getting the federal government but now the situation is becoming alarming.

When the PML-N-led federal government came into power the US dollar was at Rs182. The rupee has depreciated Rs13 against the greenback so far. Similarly, the stock market which was handed over to the PML-N at 46,407 has depreciated by 3,596 points and on May 12 its total volume was recorded $37.8 billion.

Read more: PSX weekly review shows decrease of 1,354 points

During the so far tenure of PM Shehbaz Sharif’s government, the market has lost almost $4 billion due to political instability and lack of will for timely decisions by the PML-N govt.

The Pakistan Stock Exchange (PSX) witnessed a bearish trend throughout the week and lost 1,354 points during the trading week that ended on Friday.

Meanwhile, the rupee continued its losing streak after it shed Rs1.47 against the US dollar owing to the indecisiveness of the government to revert fuel subsidies, a major demand of the IMF for the release of $1 billion tranche


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