Pakistan stock market tumbles as investors fret about unclear economic policy

KARACHI, Pakistan : Pakistan's stock market fell by more than 3 per cent on Monday, its biggest daily decline in five months, and the rupee continued its slide against the dollar as uncertainty grew over the new government's economic plans to restart a stalled IMF programme.

Prime Minister Shahbaz Sharif took over last month after ousting former premier Imran Khan, who was blamed for mishandling the economy. Pakistan is in dire need of external financial support due to a widening current account deficit and foreign reserves falling below $10.5 billion, equivalent to less than two months of imports.

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