Pakistan stock mkt tumbles as investors fret about unclear economic policy

Pakistan’s stock market fell by more than 3 per cent on Monday, its biggest daily decline in five months, and the rupee continued its slide against the dollar as uncertainty grew over the new government’s economic plans to restart a stalled IMF programme.

“Delay in IMF, lack of clarity on the new government's economic plan and (the) rising political temperature are badly affecting Pakistan stocks,” Mohammad Sohail, CEO of Topline Securities, said.

The Pakistan Stock Exchange 100 index dropped by 1,447.67 points, or 3.23 per cent, to 43,393.14, its lowest since March 22.

Prime Minister Shahbaz Sharif took over in April after ousting Imran Khan.