Reuters
Pakistan's benchmark index touched an all-time high on Thursday, extending a rally following a staff level agreement with the International Monetary Fund earlier this month to free up more financial aid for the country. Pakistan and the IMF reached a staff level agreement on the second and last review of a nine-month, $3 billion Stand By Arrangement, which, if cleared by the global lender's board, will release about $1.1 billion to the struggling South Asian nation. Pakistan's new government, led by Prime Minister Shehbaz Sharif, has also resolved to follow through with a long delayed privatisation process of loss making state owned enterprises that have drained critical funds from the cash-strapped government.