Here India banned the Indus Water Agreement and there is huge recession in Pakistan’s stock market – Cross Talk India
Jammu Kashmir 26 tourists lost their lives in the terrorist attack on Tuesday in Pahalgam. In response, India took many tough decisions on Pakistan on Wednesday. There is an atmosphere of fear in Pakistan due to these decisions and this fear has also been seen in the stock market of Pakistan today. Pakistan’s stock market has seen a tremendous decline today. The benchmark Karachi-100 index (KSE-100) fell over 2% or 2,500 points to 1,14,740.29 within the first 5 minutes of the business after investors’ response to geopolitical tensions. The market declined throughout the day and the index fell 1.79 per cent or 2098 points to close at 1,15,128.
Pakistan’s stock market instability
This is the second consecutive session for the Karachi Stock Exchange, which has declined. The index declined by 1,204 points after the International Monetary Fund (IMF) decreased to Pakistan’s GDP development forecast for FY 2025, citing fiscal risks and external weaknesses. The Asian Development Bank (ADB) has also reduced Pakistan’s 2025 GDP development forecast to 2.5 percent in December 2024. Both estimates are lower than the development target of 3.6 percent set by the Pakistani government for the said financial year.
India took action after the Pahalgam attack
The Cabinet Committee of Security Affairs (CCS) has announced on Wednesday that it will close the Attari Seema for all movement. Also, Indians who went to Pakistan have been asked to return to India by May 1. In addition, the Ministry of External Affairs (Mea) also canceled all the existing visas issued under the SAARC Visa Rebate Scheme (Sves) for Pakistani citizens, asking Pakistani citizens to leave India within 48 hours. It has been decided to reduce the total number of officers from the current 55 to 30 in the High Commission. Apart from this, the biggest decision is related to water. The Indus Water Treaty has been suspended for the first time after India signed in 1960.
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