Indian capital markets logged their best single-day gains in over four years on May 12, driven by the announcement of a ceasefire agreement between India and Pakistan and favourable global cues. The easing of trade tensions between the US and China, following fresh tariff decisions, lifted investor sentiment across the board.
The United States and China jointly declared a 90-day pause on a portion of their existing tariffs, as outlined in a statement released by both countries. The ceasefire between India and Pakistan has paved the way for a sharp rally of nearly 4 per cent in India&rsquo;s benchmark indices, Nifty50 and the Sensex, which closed at 24,924.70 and 82,429.90, respectively.
The prime mover of the rally will be the foreign institutional investors (FII) who have been buying Indian equities for sixteen continuous days, except on May 09, when the India-Pakistan tensions escalated. All sectoral indices ended in the green.
While India&rsquo;s volatility gauge plunged during Monday&rsquo;s intraday session. India VIX measures the market's expectation of future volatility based on the Nifty50 index options contracts. India VIX fell as much as 20.46 per cent to 17.79, the lowest level since the end of April, according to Bloomberg data.
Shares of information technology (IT) companies were in focus as the Nifty IT index registered a surge of 6.7 per cent, thus recording its sharpest intraday rally in over five years.
The sharp up move in IT stocks was triggered after the US decided to reduce tariffs on China to 30 per cent from 145 per cent for 90 days. Earlier, on April 7, 2020, the Nifty IT index soared 8.3 per cent in intraday trade.
In the past one month, the Nifty IT index outperformed the market by surging 15 per cent, as compared to a 6.7 per cent rise in the Nifty 50. However, thus far in the current calendar year 2025, the IT index has slipped 12 per cent due to concerns over the recession in the US and the tariff war.
Among sectoral indices, the Nifty Realty (up 5.93 per cent), followed by Metal (up 5.86 per cent) and IT indices, were the top gainers, while only the Pharma index (down 0.07 per cent) was trading in the red.
<h2 dir="ltr">Pakistan&rsquo;s stock market</h2>
The Karachi Stock Exchange 100 (KSE 100), the benchmark index of the Pakistan stock market, surged over 9 per cent on May 12, sparking a one-hour trading halt.
Pakistan's stock exchange halted trading on Monday for an hour, according to an exchange notification, a Reuters report stated.
According to data available on Bloomberg, the KSE 100 index jumped 9,751 points to 117,230. This comes after strong gains of nearly 4 per cent were seen in the May 09 trading session. With today's gains, the Pakistan benchmark index has again turned positive on a year-to-date basis.
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Business & Economy: The ceasefire between India and Pakistan has paved the way for a sharp rally of nearly 4 per cent in India’s benchmark indices, Nifty50 and Sensex.

Indian capital markets logged their best single-day gains in over four years on May 12, driven by the announcement of a ceasefire agreement between India and Pakistan and favourable global cues. The easing of trade tensions between the US and China, following fresh tariff decisions, lifted investor sentiment across the board. The United States and China jointly declared a 90-day pause on a portion of their existing tariffs, as outlined in a statement released by both countries. The ceasefire between India and Pakistan has paved the way for a sharp rally of nearly 4 per cent in India’s benchmark indices, Nifty50 and the Sensex, which closed at 24,924.70 and 82,429.90, respectively. The prime mover of the rally will be the foreign institutional investors (FII) who have been buying Indian equities for sixteen continuous days, except on May 09, when the India-Pakistan tensions escalated. All sectoral indices ended in the green. While India’s volatility gauge plunged during Monday’s intraday session. India VIX measures the market's expectation of future volatility based on the Nifty50 index options contracts. India VIX fell as much as 20.46 per cent to 17.79, the lowest level since the end of April, according to Bloomberg data. Shares of information technology (IT) companies were in focus as the Nifty IT index registered a surge of 6.7 per cent, thus recording its sharpest intraday rally in over five years. The sharp up move in IT stocks was triggered after the US decided to reduce tariffs on China to 30 per cent from 145 per cent for 90 days. Earlier, on April 7, 2020, the Nifty IT index soared 8.3 per cent in intraday trade. In the past one month, the Nifty IT index outperformed the market by surging 15 per cent, as compared to a 6.7 per cent rise in the Nifty 50. However, thus far in the current calendar year 2025, the IT index has slipped 12 per cent due to concerns over the recession in the US and the tariff war. Among sectoral indices, the Nifty Realty (up 5.93 per cent), followed by Metal (up 5.86 per cent) and IT indices, were the top gainers, while only the Pharma index (down 0.07 per cent) was trading in the red. Pakistan’s stock market The Karachi Stock Exchange 100 (KSE 100), the benchmark index of the Pakistan stock market, surged over 9 per cent on May 12, sparking a one-hour trading halt. Pakistan's stock exchange halted trading on Monday for an hour, according to an exchange notification, a Reuters report stated. According to data available on Bloomberg, the KSE 100 index jumped 9,751 points to 117,230. This comes after strong gains of nearly 4 per cent were seen in the May 09 trading session. With today's gains, the Pakistan benchmark index has again turned positive on a year-to-date basis.

Stock markets rally amid India-Pakistan truce

India-Pakistan tensions have escalated after the recent terror attack in Pahalgam. In a swift response, India has announced 5 key retaliatory measures. Among these is the closure of the sole land trade route between the 2 nations. Pakistan has also responded with reciprocal moves, suspending trade and airpace with India.
<h2>Attari-Wagah trade highlights&nbsp;</h2>
India has continued exports with Pakistan despite multiple instances of violence and terror over the years. Trade through this corridor accounted for Rs 3,886 crore or 451 million dollars in 2023-24, with over 6,800 cargo movements and more than 71,000 passenger crossings. &nbsp;&nbsp; &nbsp; India exports essential items like soybeans, vegetables, plastic products, and chicken feed. These exports are now at a standstill, severely impacting consumers.&nbsp;Exporting from longer routes will lead to supply-chain issues and higher costs. While inflation has eased in recent times, the broader structural challenges can compound economic issues in Pakistan. &nbsp; Stock market crashes&nbsp; &nbsp; Pakistan's financial market are reeling from this fallout. The Karachi Stock Exchange plunged by 1,303.29 points&mdash;down 1.10 per cent.&nbsp;
According to a Reuters report, investors rushed to pull out capital amid rising regional tensions and uncertainty. &nbsp; &nbsp; Pakistan&rsquo;s growth forecast downgraded&nbsp; &nbsp; Global lending agencies are also taking stock of Pakistan&rsquo;s deepening crisis. The IMF has revised Pakistan&rsquo;s GDP growth forecast downward&mdash;from 3 per cent to 2.6 per cent&mdash;citing political and security risks. Credit agency Fitch has also warned of a further decline in the Pakistani Rupee, driven by current account concerns. &nbsp; &nbsp; In contrast, India&rsquo;s financial markets have shown resilience. On Wednesday, the Sensex marked its seventh straight day of gains and an 8.48 per cent weekly rise.

Business & Economy, India has continued exports with Pakistan despite multiple instances of violence and terror. Trade through this corridor accounted for Rs 3,886 crore.

India-Pakistan tensions have escalated after the recent terror attack in Pahalgam. In a swift response, India has announced 5 key retaliatory measures. Among these is the closure of the sole land trade route between the 2 nations. Pakistan has also responded with reciprocal moves, suspending trade and airpace with India. Attari-Wagah trade highlights India has continued exports with Pakistan despite multiple instances of violence and terror over the years. Trade through this corridor accounted for Rs 3,886 crore or 451 million dollars in 2023-24, with over 6,800 cargo movements and more than 71,000 passenger crossings. India exports essential items like soybeans, vegetables, plastic products, and chicken feed. These exports are now at a standstill, severely impacting consumers. Exporting from longer routes will lead to supply-chain issues and higher costs. While inflation has eased in recent times, the broader structural challenges can compound economic issues in Pakistan. Stock market crashes Pakistan's financial market are reeling from this fallout. The Karachi Stock Exchange plunged by 1,303.29 points—down 1.10 per cent. According to a Reuters report, investors rushed to pull out capital amid rising regional tensions and uncertainty. Pakistan’s growth forecast downgraded Global lending agencies are also taking stock of Pakistan’s deepening crisis. The IMF has revised Pakistan’s GDP growth forecast downward—from 3 per cent to 2.6 per cent—citing political and security risks. Credit agency Fitch has also warned of a further decline in the Pakistani Rupee, driven by current account concerns. In contrast, India’s financial markets have shown resilience. On Wednesday, the Sensex marked its seventh straight day of gains and an 8.48 per cent weekly rise.

Pakistan braces for economic fallout as India retaliates

Pakistan’s stock markets made history on Monday as the KSE-100 index posted a historic single-day gain. WION tells you more in this report.

Largest-ever single-day gain for Pakistan stocks on Monday

The Pakistan Stock Exchange (PSX) took a hammering on Monday and the benchmark KSE-100 index dived nearly 1,500 points in intra-day trading at one point as the rising oil prices amid geopolitical tensions shattered investor confidence, Geo News reported. 
 
The KSE-100, a benchmark for market performance, underwent selling pressure from the word go, falling below the 44,000-point mark during intra-day with volumes remaining on the lower side.

Also read |<a href="https://www.wionews.com/south-asia/ally-of-pakistan-govt-accuses-imran-khan-of-targeting-certain-media-groups-459609">&nbsp;</a><a href="https://www.wionews.com/world/us-allies-plan-ways-to-help-establish-support-a-ukrainian-government-in-exile-459791">US, allies plan ways to help establish, support a Ukrainian government-in-exile</a> 
 
Market talk suggested that the uncertainty in international markets is the prime reason behind investors` dump-and-run approach at the PSX. 
 
BMA Capital Executive Director Saad Hashemy said that the market was primarily down because of rising oil prices in the international market.

Also read |<a href="https://www.wionews.com/south-asia/ally-of-pakistan-govt-accuses-imran-khan-of-targeting-certain-media-groups-459609">&nbsp;Ally of Pakistan govt accuses Imran Khan of targeting certain media groups</a> 
 
"The oil was last trading at $115 per barrel on Friday; however, the prices surged by $15 on Monday morning which impacted the financial markets worldwide," he said. 
 
Oil prices soared more than 9 per cent, touching their highest since 2008, as the US and European allies mull a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled tight supply fears.

Meanwhile, gold prices scaled the $2,000-level for the first time in a year-and-a-half, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high.

Watch |&nbsp;Asian stocks tumble in morning trade as the risk of stagflationary shock for world markets continue

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The Pakistan Stock Exchange (PSX) took a hammering on Monday and the benchmark KSE-100 index dived nearly 1,500 points in intra-day trading at one point as the rising oil prices amid geopolitical tensions shattered investor confidence, Geo News reported.

The Pakistan Stock Exchange (PSX) took a hammering on Monday and the benchmark KSE-100 index dived nearly 1,500 points in intra-day trading at one point as the rising oil prices amid geopolitical tensions shattered investor confidence, Geo News reported. The KSE-100, a benchmark for market performance, underwent selling pressure from the word go, falling below the 44,000-point mark during intra-day with volumes remaining on the lower side. Also read | US, allies plan ways to help establish, support a Ukrainian government-in-exile Market talk suggested that the uncertainty in international markets is the prime reason behind investors` dump-and-run approach at the PSX. BMA Capital Executive Director Saad Hashemy said that the market was primarily down because of rising oil prices in the international market. Also read | Ally of Pakistan govt accuses Imran Khan of targeting certain media groups "The oil was last trading at $115 per barrel on Friday; however, the prices surged by $15 on Monday morning which impacted the financial markets worldwide," he said. Oil prices soared more than 9 per cent, touching their highest since 2008, as the US and European allies mull a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled tight supply fears. Meanwhile, gold prices scaled the $2,000-level for the first time in a year-and-a-half, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high. Watch | Asian stocks tumble in morning trade as the risk of stagflationary shock for world markets continue

Pakistan stock market takes a hammering

Pakistani stocks fell on Monday, a day after the country received its 22nd bailout from the <a href="https://www.wionews.com/south-asia/decisive-policies-and-reforms-must-for-pakistans-economic-stability-imf-218413">International Monetary Fund (IMF)</a>, as investors and analysts expressed doubt over the reported conditions of the deal.

The benchmark KSE-100 index of the <a href="https://www.wionews.com/south-asia/pakistan-to-continue-talks-with-imf-on-bailout-over-weekend-217714">Pakistan Stock Exchange (PSX)</a> dropped by 816 points or 2.41 per cent to close at 33,900 points.

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"The investors have taken the IMF conditions as negative, especially with regard to free float of the rupee against the dollar and increasing the interest rate," Yawar Uz-Zaman, head of Research at Shajar Capital, a brokerage house in Karachi.

Pakistan and the IMF on Sunday had reached a new agreement securing a $6 billion bailout for the cash-strapped country, following months of painstaking negotiations between the two sides. The deal still needs approval from the IMF board in Washington.

<a href="https://www.wionews.com/pakistan/pakistan-media-and-people-scared-of-speaking-against-cpec-us-lawmakers-told-218824">Also read:&nbsp;Pakistan media and people scared of speaking against CPEC, US lawmakers told</a>

For more than a year now Pakistan has struggled to stave off a looming balance-of-payments crisis while its economy teeters due to low growth, soaring inflation, and mounting debt.

Analysts have warned that any fresh IMF deal would likely come with myriad restrictions that could hobble Prime Minister Imran Khan's grand promises as the country is forced to tighten its purse strings.

Khan had long vowed not to go to the IMF, and his political opponents were quick to deride the announcement, with one particularly dark tweet from Bilawal Bhutto Zardari, son of assassinated prime minister Benazir Bhutto.

"So who's got our PM on suicide watch then? #PTIMF" he tweeted, using a hashtag to play on the name of Khan's party -&nbsp;Pakistan Tehreek-e-Insaf, or PTI -&nbsp;and the IMF.&nbsp;

Some analysts suggested $6 billion would not be enough to pull the country back from the brink, with Zaman describing it as "insufficient".&nbsp;

Mohammad Sohail, CEO of Karachi-based brokerage house Topline Securities, said they believe Pakistan's annual foreign payments could be as high as $14 billion.&nbsp;

If Khan's government can secure more funding from donors including China and Saudi Arabia, from whom Khan has already raised billions, then it could be sufficient, he said. "If not, it would not be enough for the foreign payments."

Salman Ahmed, head of institutional sales at Aba Habib Ali, a brokerage house in Karachi, said the amount was less important than the fact a deal had been struck at all.

"This will give the government a breathing space, and now it can look around for other sources of financing foreign debts," he said.

Pakistani stocks fell on Monday, a day after the country received its 22nd bailout from the International Monetary Fund (IMF), as investors and analysts expressed doubt over the reported conditions of the deal.

Pakistani stocks fell on Monday, a day after the country received its 22nd bailout from the International Monetary Fund (IMF), as investors and analysts expressed doubt over the reported conditions of the deal. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) dropped by 816 points or 2.41 per cent to close at 33,900 points. "The investors have taken the IMF conditions as negative, especially with regard to free float of the rupee against the dollar and increasing the interest rate," Yawar Uz-Zaman, head of Research at Shajar Capital, a brokerage house in Karachi. Pakistan and the IMF on Sunday had reached a new agreement securing a $6 billion bailout for the cash-strapped country, following months of painstaking negotiations between the two sides. The deal still needs approval from the IMF board in Washington. Also read: Pakistan media and people scared of speaking against CPEC, US lawmakers told For more than a year now Pakistan has struggled to stave off a looming balance-of-payments crisis while its economy teeters due to low growth, soaring inflation, and mounting debt. Analysts have warned that any fresh IMF deal would likely come with myriad restrictions that could hobble Prime Minister Imran Khan's grand promises as the country is forced to tighten its purse strings. Khan had long vowed not to go to the IMF, and his political opponents were quick to deride the announcement, with one particularly dark tweet from Bilawal Bhutto Zardari, son of assassinated prime minister Benazir Bhutto. "So who's got our PM on suicide watch then? #PTIMF" he tweeted, using a hashtag to play on the name of Khan's party - Pakistan Tehreek-e-Insaf, or PTI - and the IMF. Some analysts suggested $6 billion would not be enough to pull the country back from the brink, with Zaman describing it as "insufficient". Mohammad Sohail, CEO of Karachi-based brokerage house Topline Securities, said they believe Pakistan's annual foreign payments could be as high as $14 billion. If Khan's government can secure more funding from donors including China and Saudi Arabia, from whom Khan has already raised billions, then it could be sufficient, he said. "If not, it would not be enough for the foreign payments." Salman Ahmed, head of institutional sales at Aba Habib Ali, a brokerage house in Karachi, said the amount was less important than the fact a deal had been struck at all. "This will give the government a breathing space, and now it can look around for other sources of financing foreign debts," he said.

Pakistan stocks crash as PM Imran receives 'insufficient' IMF bailout

Pakistan’s finance minister on Friday ruled out a further devaluation of the rupee, which has lost about 25 per cent of its value over the past year, urging people to invest in the stock market and not waste money buying dollars.

Since coming to power in August, much of the government’s focus has been in staving off a balance of payments crisis. It is in talks with the International Monetary Fund over a 13th bailout since the 1980s which is expected in the next few weeks.

Consumer price inflation rose in March to its highest since November 2013. Energy costs, in particular, have risen sharply, hit by a series of a devaluation.

"Today, State Bank of Pakistan has given a categorical statement that rupee is in equilibrium. The central bank cannot speak clearer than this,” Finance Minister Asad Umar said in a speech at the Pakistan Stock Exchange shown on television.

"There is no reason for big devaluations."

He added that there were no demands for what the exchange rate should be in the talks with the IMF.

Traditionally, Pakistan has kept its exchange rate over-valued, incurring losses to the economy, the finance minister said. The rupee should be aligned with its fundamentals and its benchmark should be the real effective exchange rate (REER), he added.

The minister advised the people not to waste money buying dollars, but instead invest in the stock market.

"One should not say the rupee would comfortably become stable or inflexible in terms of movement. It will remain flexible, but one should not expect big devaluation,"&nbsp;Fawad Khan, head of Research at BMA Capital Management Limited, told Reuters.

The finance minister’s remarks would help bring stability, Khan said.

"Overall, the statement has been taken positively by the equity market,"&nbsp;he told Reuters.

The question of whether the finance minister should have given this statement or not was another issue, Khan said because the management of the exchange rate is the joint responsibility of the ministry of finance and the central bank.

Pakistan’s finance minister on Friday ruled out a further devaluation of the rupee, which has lost about 25 per cent of its value over the past year, urging people to invest in the stock market and not waste money buying dollars.

Pakistan’s finance minister on Friday ruled out a further devaluation of the rupee, which has lost about 25 per cent of its value over the past year, urging people to invest in the stock market and not waste money buying dollars. Since coming to power in August, much of the government’s focus has been in staving off a balance of payments crisis. It is in talks with the International Monetary Fund over a 13th bailout since the 1980s which is expected in the next few weeks. Consumer price inflation rose in March to its highest since November 2013. Energy costs, in particular, have risen sharply, hit by a series of a devaluation. "Today, State Bank of Pakistan has given a categorical statement that rupee is in equilibrium. The central bank cannot speak clearer than this,” Finance Minister Asad Umar said in a speech at the Pakistan Stock Exchange shown on television. "There is no reason for big devaluations." He added that there were no demands for what the exchange rate should be in the talks with the IMF. Traditionally, Pakistan has kept its exchange rate over-valued, incurring losses to the economy, the finance minister said. The rupee should be aligned with its fundamentals and its benchmark should be the real effective exchange rate (REER), he added. The minister advised the people not to waste money buying dollars, but instead invest in the stock market. "One should not say the rupee would comfortably become stable or inflexible in terms of movement. It will remain flexible, but one should not expect big devaluation," Fawad Khan, head of Research at BMA Capital Management Limited, told Reuters. The finance minister’s remarks would help bring stability, Khan said. "Overall, the statement has been taken positively by the equity market," he told Reuters. The question of whether the finance minister should have given this statement or not was another issue, Khan said because the management of the exchange rate is the joint responsibility of the ministry of finance and the central bank.

Pakistan finance minister Asad Umar rules out further devaluation

Pakistan will not approach the IMF for a new bailout package and is considering alternative options to tide over its economic crisis, Finance Minister Asad Umar said Saturday.

Minister Umar made the remarks during a meeting with businessmen at the Karachi Chamber of Commerce and Industry (KCCI).

Umar told the participants that the Imran Khan led government had decided against entering into any new bailout programme with the International Monetary Fund (IMF) for now and was exploring other possible avenues to help Pakistan's struggling economy get back on track.

Cash-strapped Pakistan is negotiating an $8 billion bailout package from the IMF to overcome a severe balance-of-payments crisis that threatens to cripple the country's economy.

The government reached out to some "friendly countries" for economic assistance including Saudi Arabia, China and the UAE since Prime Minister Khan assumed office in August.

Umar said different alternative options were being explored instead of rushing into a new IMF programme which would bring more stringent economic conditions for Pakistan.

He told the Karachi businessmen that the government would be announcing a mini-budget on January 23.

The finance minister said he was meeting with businessmen in Karachi and Lahore to discuss the amended finance bill, which he said will facilitate businessmen.

Umar indicated that the amended bill will also carry "some good news" for the Pakistan Stock Exchange (PSX).

He also made it clear that the government had signed several agreements to bring investment to the country instead of just borrowing from friendly countries.

"The impact of these investment agreements will become known from next week," he said.

Pakistan and the UAE finalised the terms and conditions of a $6.2 billion support package for Islamabad this month.

Last month, the UAE said it will soon give $3 billion to Islamabad.

In October, Saudi Arabia agreed to provide Pakistan $3 billion in foreign currency support for a year to address its balance-of-payments crisis.

During Prime Minister Khan's visit to Saudi Arabia on October 23, it was announced that the oil-rich country will provide a $6 billion package to Pakistan to support its ailing economy.

The package included $3 billion balance of payments support and $3 billion in deferred payments on oil import.

Pakistan's all-weather ally China has also pledged to provide generous aid to Islamabad to overcome its financial woes. Beijing has not yet revealed the quantum of its financial support.

Pakistan apprehends the IMF will come with stringent conditions of austerity besides scrutiny of $60 billion China-Pakistan Economic Corridor projects whose terms till now remained confidential.

The Trump administration is making all efforts to ensure that any IMF loan to Pakistan is not used to repay its Chinese debt.

Pakistan will not approach the IMF for a new bailout package and is considering alternative options to tide over its economic crisis, Finance Minister Asad Umar said Saturday.

Pakistan will not approach the IMF for a new bailout package and is considering alternative options to tide over its economic crisis, Finance Minister Asad Umar said Saturday. Minister Umar made the remarks during a meeting with businessmen at the Karachi Chamber of Commerce and Industry (KCCI). Umar told the participants that the Imran Khan led government had decided against entering into any new bailout programme with the International Monetary Fund (IMF) for now and was exploring other possible avenues to help Pakistan's struggling economy get back on track. Cash-strapped Pakistan is negotiating an $8 billion bailout package from the IMF to overcome a severe balance-of-payments crisis that threatens to cripple the country's economy. The government reached out to some "friendly countries" for economic assistance including Saudi Arabia, China and the UAE since Prime Minister Khan assumed office in August. Umar said different alternative options were being explored instead of rushing into a new IMF programme which would bring more stringent economic conditions for Pakistan. He told the Karachi businessmen that the government would be announcing a mini-budget on January 23. The finance minister said he was meeting with businessmen in Karachi and Lahore to discuss the amended finance bill, which he said will facilitate businessmen. Umar indicated that the amended bill will also carry "some good news" for the Pakistan Stock Exchange (PSX). He also made it clear that the government had signed several agreements to bring investment to the country instead of just borrowing from friendly countries. "The impact of these investment agreements will become known from next week," he said. Pakistan and the UAE finalised the terms and conditions of a $6.2 billion support package for Islamabad this month. Last month, the UAE said it will soon give $3 billion to Islamabad. In October, Saudi Arabia agreed to provide Pakistan $3 billion in foreign currency support for a year to address its balance-of-payments crisis. During Prime Minister Khan's visit to Saudi Arabia on October 23, it was announced that the oil-rich country will provide a $6 billion package to Pakistan to support its ailing economy. The package included $3 billion balance of payments support and $3 billion in deferred payments on oil import. Pakistan's all-weather ally China has also pledged to provide generous aid to Islamabad to overcome its financial woes. Beijing has not yet revealed the quantum of its financial support. Pakistan apprehends the IMF will come with stringent conditions of austerity besides scrutiny of $60 billion China-Pakistan Economic Corridor projects whose terms till now remained confidential. The Trump administration is making all efforts to ensure that any IMF loan to Pakistan is not used to repay its Chinese debt.

Pakistan not approaching IMF for new bailout programme, considers alternative options: Finance Minister