Pakistan's KSE-100 index reached a record high after a staff-level agreement with the IMF for $1.1bn financial aid.

Pakistan's benchmark KSE-100 index reached a record high on Thursday, surpassing its previous high in December, following a staff-level agreement with the International Monetary Fund earlier this month that could release around $1.1 billion in financial aid. This agreement is part of a $3 billion Stand By Arrangement and the two sides are discussing a longer-term bailout and policy reforms. The new government is also committed to privatizing loss-making state-owned enterprises.