KSE-100 fell this week, due to rising commodity prices in the international market. PKR depreciated this week, as the State Bank’s forex reserves fell to their lowest level in two years. Local gold prices rose slightly this week.
What Else We’re Reading (Local)
- The IMF has apparently demanded the end of fuel subsidies and tax exemptions in order for Pakistan to receive its next loan installment. (Profit)
- Pakistan has a sugar surplus this year. But allowing the commodity to be exported could become unpopular if prices start rising later. (Business Recorder)
What Else We’re Reading (International)
- UK Prime Minister Boris Johnson is in India this week to push for the signing of a free trade deal between the two countries, but India appears to be more circumspect about the endeavour. (Bloomberg)
- French President Emmanuel Macron’s popularity amongst the country’s Muslim population has plummeted due to his neglect for poorer suburbs and divisive rhetoric on terrorism. (FT)