The Pakistani stock market fell by more than 800 points on Monday, a day after the country’s chief executive, Prime Minister Imran Khan, dissolved the National Assembly. According to market speculation, political instability is the primary reason for the decline. At lunchtime, the market index was hovering around 44,335 points, indicating a 1.8 percent decline from the previous day. After reaching a high of 45,152 points, the market plunged to a low of 44,051 points, marking its lowest position since the beginning of the year.
Analysts believe that once the political situation has stabilised and the anxiety around it has subsided, the losses will be recouped in full. After a ruling is issued by the Supreme Court of Pakistan on April 3rd regarding proceedings in the National Assembly of Pakistan, it is believed that the market would rebound.
On the 3rd of April, the National Assembly of Pakistan called a session in order to remove the current Prime Minister, Imran Khan, from office through a vote of no confidence. The conference was adjourned shortly after Fawad Hussain, the former minister of law and justice, expressed fears about a foreign conspiracy to bring about regime change in Pakistan.
By order of the Deputy Speaker, Qasim Suri, the session was adjourned. Minutes after the session was called to a halt, the Prime Minister appeared on television to inform the people that he had advised the President to dissolve the legislatures and the Senate. The decision was made shortly after the President’s broadcast address, stating that the President had accepted the suggestion and that the assemblies would be disbanded.
