The Pakistan Stock Exchange (PSX) surged to a fresh all-time high on Tuesday, with market participants showing positive sentiments following the International Monetary Fund’s (IMF) approval for a $1.2 billion loan for Pakistan.

The benchmark KSE-100 Index settled at an all-time high of 169,456.38 points, up 1,153.14 points, or 0.69%, from the previous close of 168,303.24. The index climbed to an intraday high of 169,601.03, gaining 1,297.79 points.

The market rally strengthened further following the IMF’s approval of nearly $1.2 billion under the Extended Fund Facility (EFF) and an additional $220 million under the Resilience and Sustainability Facility (RSF).

The move has kept the combined $8.4 billion programme on track and significantly lifted investor confidence.

The surge was largely fuelled by strong and consistent buying from local mutual funds, which helped sustain positive momentum throughout the session. Major index contributors collectively added around 640 points to the benchmark’s gains.

Trading activity also remained robust. Total volumes crossed 1.02 billion shares, while overall turnover rose to Rs51.1 billion. K-Electric (KEL) dominated the session as the volume leader with 86.7 million shares traded.

With solid liquidity, improving macro indicators, and renewed confidence, the record close reinforces the bullish trend steering the market forward.

The IMF will release $1bn under the EFF and $200 million under the RSF, bringing total disbursements under both programmes to $3.3 bn.

“Today, the Executive Board of the IMF completed the second review of Pakistan’s economic reform program supported by the EFF and the first review of Pakistan’s program supported by the RSF,” the IMF said in a statement.

This decision, it said, allows for an immediate disbursement of around $1 billion under the EFF and around $200 million under the RSF, bringing total disbursements under the two arrangements to about $3.3 billion

The IMF has described the implementation of the ongoing loan programmes as “strong” and has assured the government of continued support for its economic reforms. The release of $1.2bn is expected to further bolster Pakistan’s foreign exchange reserves.

Last Updated:December 09, 2025, 17:45 IST

Pankaj Chaudhary confirmed 50.14 lakh central government employees and 69 lakh pensioners will benefit from the 8th Central Pay Commission.

8th Pay Commission: Pankaj Chaudhary, minister of state in the Ministry of Finance, clarified that the total number of government employees currently stands at 50.14 lakh, and there are approximately 69 lakh pensioners, who will get the benefits from the 8th Pay Commission.

In a written reply to Lok Sabha dated December 8, 2025, the minister said “the number of central government employees is 50.14 lakh, and the number of pensioners is 69 lakh approximately.”

When asked the date of implementation of the 8th CPC, the Minister clarified that it will be decided by the government that the commission will make its recommendations within 18 months from the date of its constitution.

The minister was asked plans for allocation of funds for the 8th CPC in the 2026-27 budget, the MoS said it will make appropriate provision of funds for implementing the accepted recommendations of the 8th CPC. It will devise methodology and procedure for formulating its recommendations.

The finance ministry has stated that the 8th Central Pay Commission will submit its recommendations on key matters such as pay, allowances, pensions and other related issues. Minister of State for Finance Pankaj Chaudhary clarified the government’s position in response to an unstarred question in the Rajya Sabha from members Javed Ali Khan and Ramji Lal Suman, who had asked whether a revision of pensions for central government employees is being considered under the 8th CPC.

No Proposal To Merger DA, DR With  Basic Pay

Union Minister of State for Finance Pankaj Chaudhary had said earlier the central government has notified the constitution of the 8th Central Pay Commission, and there is no proposal as of now to merge the existing dearness allowance (DA) or dearness relief (DR) with the basic pay.

“No proposal regarding merger of the existing dearness allowance with the basic pay is under consideration with the government at present. In order to adjust the cost of living and to protect basic pay/ pension from erosion in real value on account of inflation, the rates of DA/ DR are revised periodically every six months on the basis of the All India Consumer Price Index for Industrial Workers (AICPI-IW) released by Labour Bureau, Ministry of Labour and Employment,” Chaudhary said in response to a query in the Lok Sabha.

He said the government has notified Resolution dated November 3, 2025, for the constitution of the Eighth Central Pay Commission. A copy of the Notification is enclosed at Annexure-1.

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New Delhi: India’s initial public offerings (IPO) have raised a record Rs 1.77 lakh crore ($19.6 billion) in 2025 so far, marginally higher than the 2024 tally, as companies rush to capture increasing investor demand. 

With five more offerings scheduled to close on or before December 16, including ICICI Prudential Asset Management Co.’s $1.2‑billion deal, the total value of IPO proceeds is set to rise much higher than last year’s proceeds.

In 2024, Indian IPOs raised Rs 1.73 lakh crore, according to data compiled by Bloomberg. The surge reflects a maturing capital market driven by a swelling base of retail investors and steady institutional appetite, even as demand for equities in the secondary market softened.

Analysts said that firms are using buoyant demand to lock in funding before global conditions tighten, and India has eased the process for companies to list and initiated a run of big-ticket deals.

Foreign institutional investors remain active participants in IPOs despite selling a record number of Indian equities in the secondary market. FII enthusiasm in primary markets helped companies across sectors and market caps to raise capital at elevated valuations.

Almost half of the more than 300 firms listed so far this year are trading below their offer price when the scrips debuted.

Securities and Exchange Board of India (SEBI), on Thursday, proposed key reforms to address long-standing challenges around locking in pre-IPO pledged shares and simplifying public issue disclosures.

SEBI has suggested enabling depositories to designate pledged shares as “non-transferable” for the lock-in period in response to directives from the issuer.

India’s financial markets are heading into 2026 with renewed confidence, with notable surges in recent months and a resilient macroeconomic environment. This sharp turnaround was fuelled by multiple domestic triggers, including the GST 2.0 rate rationalisation that accelerated consumption across discretionary categories, a surge in manufacturing activity reflected in a two-month high PMI of 58.4.