Adviser to Prime Minister on Finance and Economic Affairs Dr Abdul Hafeez Shaikh left for the United States to attend annual meetings of the International Monetary Fund (IMF) and the World Bank.
The government officials said that the adviser will also hold important meetings with the officials of the two international monetary institutions. On September 24, Minister for Economic Affairs Hammad Azhar had revealed status of his high profile meetings with delegations from the IMF and the American ambassador along with his team.
About his meeting with the ambassador, the minister had said that means of enhancing economic cooperation between Pakistan and the US came under discussion along with increasing the effectiveness of the grant on the ground.
STOCK MARKET: The Pakistan Stock Exchange (PSX) witnessed a bearish trend as KSE 100-index plunged by 289 points to close at 34,186 points. Out of 371 companies, share prices of 103 companies recorded increase and 244 companies registered decrease whereas 24 companies remained stable in the trading.
On the other hand, a global index of stock markets slipped as signs of progress in the China-US trade dispute drew mixed a reaction from investors, with some cautioning over a lack of detail in the initial stages of the agreement. In Asia, the stock markets cheered America’s outlining the first phase of an agreement to end a trade war with China and suspending a threatened tariff hike, but European shares slipped.
The emerging trade deal, covering agriculture, currency and some aspects of intellectual-property protection, would represent the biggest step by the two countries in 15 months. But investors advised caution. “We are not absolutely certain that this marks the start of a clear de-escalation of the trade dispute,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.