The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Pakistan’s markets uneasy but supportive

With Pakistan once again becoming a frontline state, the financial community is preparing for the worst. Despite this, Pakistan's move to support the US has brought comfort to the market.

A troubled border: near the Afghanistan-
Pakistan frontier

Pakistan lost no time in reacting to the terrorist attacks on the US. The Securities&Exchange Commission in Karachi ordered an immediate shutdown of the stock exchange for the first three trading days of the week following the attacks, after the markets went into free fall.

"They realized that Pakistan had once again become a frontline state," says a banker in Karachi. "The government is clearly bracing itself for short-term turmoil in the financial markets." So, too, are the financial markets themselves. No sooner had Pakistan's president, general Pervez Musharraf, announced his decision to back the US war on terrorism than the American Express office in the northern city of Peshawar, near the Afghan border, took down its sign. So far, the markets as well as the mainstream political parties have shown unanimous solidarity with the government's policy.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree