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[1/3] Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. REUTERS/Akhtar SoomroKARACHI, July 3 (Reuters) - Pakistan's benchmark share index scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country secured a last-gasp funding deal from the International Monetary Fund (IMF). The KSE 100 index (.KSE) closed up 2,442.06 points at 43,894.7, marking its biggest percentage gain since June 24, 2008, when it rose 8.6%, as per Refinitiv data. "Today's gain in the benchmark KSE 100 Index will likely to be highest in the history of Pakistan Stock exchange," it said. Several automakers including Pakistan Suzuki Motor Co (PKSU.PSX) had announced prolonged plant closures in 2023, citing import restrictions.

Persons: Akhtar Soomro, Shehbaz Sharif, Muhammad Iqbal Jawaid, Arif Habib, HCAR, Asif Shahzad, Swati Bhat, Lincoln, David Holmes Organizations: Pakistan Stock Exchange, REUTERS, International Monetary Fund, IMF, Topline Securities, Pakistan Stock, Pakistan, U.S ., Pakistan Suzuki Motor, Honda, Pakistan Suzuki, Indus, Toyota, Auto, Arif, Arif Habib Ltd, Thomson Locations: Karachi, Pakistan, Akhtar Soomro KARACHI

It is not the end of our relationship with the IMF though, as the SBA is a short-term bridging operation. GARETH LEATHER, SENIOR ASIA ECONOMIST AT CAPITAL ECONOMICS, LONDON"The agreement of a loan deal between Pakistan and the IMF should put the economy back on a more secure footing and limit the biggest downside risks. There is a strong risk that Pakistan reneges on the deal once the immediate crisis has passed. Our target shall be that the next IMF programme should be the last one and it would be a great opportunity to correct our fiscal account once and for all." "Things would have been much better if successive governments would have invested in completing the IMF programme.

Persons: MURTAZA SYED, GARETH, Shehbaz Sharif, ABDUL ALEEM, SHERANI, SHAHBAZ ASHRAF, MAHA RAHMAN, ZAFAR MASUD, MUSTAFA PASHA, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, MOHAMMED SOHAIL, AHFAZ MUSTAFA, ISMAIL IQBAL, SAJID AMIN JAVED, Ariba Shahid, Shilpa Jamkhandikar, Raju Gopalakrishnan Organizations: Monetary Fund, South, IMF, BANK OF PAKISTAN, SBA, State Bank, EFF, Capital, UL HAQ, OF PUNJAB, Pakistan, ARIF, Thomson Locations: Pakistan, ASIA, KARACHI, ISLAMABAD, LAHORE, PAKISTAN

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