KARACHI: The Pakistan Stock Exchange 100 Index closed with an increase of 1368 points on the second day of the business week.
According to News, the 100 Index closed at 40,480 after gaining 1,368 points on the Pakistan Stock Exchange. Market capitalization increased by Rs. 190 billion.
It may be recalled that the government of Pakistan had yesterday signed a مل 2 million grant agreement with the Asian Development Bank (ADB) to tackle the global corona virus.
The agreement was signed yesterday by the Secretary of Economic Affairs and officials of the Asian Development Bank. The ADB grant will be provided under the Corona Emergency Response Program.
According to News, the grant will be used to train health workers and set up a biosafety lab. Following the agreement, the Secretary for Economic Affairs said he was grateful for the grant from the Asian Development Bank.
Yesterday, the ADB Country Director had said that the steps taken by the Government of Pakistan to combat Corona were commendable.
It may be recalled that a few months ago, the Asian Development Bank in its report had expressed concern that 2.3 million youth in Pakistan could be unemployed from Corona.
According to the ADB report, the Corona virus has increased unemployment in Pakistan and 1.5 million people have lost their jobs in the last three months.
The report said that countries in the Asia-Pacific region were badly affected by the corona virus, leaving about 15 million people unemployed in the region.
At its port, the ADB feared the Corona virus would cost the global economy تین 5,800 billion in three months.
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