KARACHI: The Pakistan Stock Exchange (PSX) fell by 1,000 points this morning following news of Pakistan’s retaliatory air-strikes on Iran.
However, the PSX rebounded later in the day, gaining back nearly 650 points before it closed.
Pakistan was on the brink of default last year before it managed to secure an agreement with the International Monetary Fund (IMF) for $3 billion.
In the past six months, it has shown gradual improvement in its economic indicators, including inflation – which fell from a high of 38 per cent to 29 per cent.
Meanwhile, President Arif Alvi says his country fully respects the sovereignty and territorial integrity of all states while expecting the same treatment from other nations.
“Pakistan would not compromise on its national security and territorial integrity and would take all necessary measures to defend its soil,” Alvi said in a statement published by his office on X.
Alvi added that Pakistan and Iran were “brotherly countries”, and should resolve their issues through “dialogue and mutual consultation”.
Read more: Pakistan ‘successfully struck’ BLA, BLF hideouts inside Iran: ISPR
