Pakistani stocks jump 3.3% on Saudi offer of $6 billion rescue package

WION Web Team Pakistan Oct 24, 2018, 02.13 PM(IST)

File photo. Photograph:( Reuters )

A day after Pakistan announced Saudi's assent to provide rescue aid to the country, Pakistani shares escalated 3.3 per cent in early trading on Wednesday.

The Pakistan Stock Exchange's benchmark 100-share index rose 1,256.29 points to trade at 38,971.19 at 10.34 am (0534 GMT), according to the bourse's website.

Islamabad on Tuesday said that Saudi Arabi had agreed to give Pakistan $3 billion in foreign currency support for a year and a further loan worth up to $3 billion in deferred payments for oil imports to help revive the country looming under economic crisis.

The agreement was announced as the new Pakistani Prime Minister Imran Khan attended a Saudi investment conference in Riyadh on Tuesday.

(With inputs from agencies)