Vote of confidence: Bloomberg says Imran Khan's victory will revive ‘Bullishness’ in Pakistan markets

Bloomberg said it could help Pakistan recover economically from the pandemic-induced contraction with the help of the International Monetary Fund’s six billion dollars loan programme.

The agency further said that as US President Joe Biden urging allies to uphold democracy, stability in Pakistan is an advantage in the region, which is already reeling from a coup in Myanmar.

The New-York based news agency also noted that the KSE-100 Index has risen about 68 percent since March 25, 2019 when countries went into lockdown.

“The benchmark KSE-100 Index erased earlier gains to close down 2.1%, paring its advance to 65% since March 25 when countries went into lockdown because of coronavirus” the news agency wrote.

Earlier on March 03, in the most highlighted and awaited contest of Senate elections, former Prime Minister and Pakistan Democratic Movement (PDM) joint candidate Yousuf Raza Gillani thumped PTI candidate Abdul Hafeez Sheikh. Gillani registered his victory from an Islamabad’s General seat.

The victory of opposition came as major blow for PTI, after which Prime Minister Imran Khan decided to take a vote of confidence from Parliament.

On March 06, Prime Minister Imran Khan successfully secured vote of confidence in the National Assembly after getting 178 votes, six more than needed. The announcement was made by NA Speaker Asad Qaiser.