*KARACHI: Pakistan Stock Exchange (PSX) on Monday fell like a house ofcards and lost over 1607 points owing to growing uncertainty over talkswith International Monetary Fund (IMF) for the release of US$1 billiontranche. *
The KSE-100 index lost 1607 points during the early hours on the first dayof the week and fell below the 44,000 mark. The PSX traded at 43,233 afterthe decline.
Earlier in the day, Pakistan Tehreek-i-Insaf (PTI) spokesperson on financeMuzzammil Aslam claimedlinkthatthe IMF has deferred meeting with Pakistan authorities for release of US$1billion tranche until May 18 and is demanding a hike in petrol and dieselprices.
Muzzammil Aslam while sharing a news report claimed that the IMF mission isnot scheduled to visit Pakistan on May 10 and instead wanted the governmentto raise prices of petrol, diesel and electricity ahead of staff-leveltalks.
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“If prices are raised then IMF delegation could meet Pakistani authoritiesin Doha from May 18,” he said, adding that the international lender wantedexcessive taxes on common man in the next budget.
He further claimed that the government will also not receive any funds fromfriendly countries.
