[ad_1]
Prime Minister Shahbaz Sharif on Thursday hailed the historic performance of the Pakistan Stock Exchange (PSX), as the benchmark KSE-100 index crossed the 100,000-point mark for the first time in history.
In a statement, the Prime Minister attributed the milestone to the strong confidence of investors in the government’s policies and the efforts of the economic team to steer the national economy towards stability and growth.
Prime Minister Shehbaz said that the stock exchange crossing 100,000 points for the first time reflects the confidence of the business community and investors in the government policies.
“The government’s economic team and officials working tirelessly to promote investment in the country deserve appreciation for achieving this milestone,” he added.
The KSE-100’s phenomenal rise is part of a broader market recovery, with the index rising 150% from 40,000 to 100,000 points in the past 17 months.
Experts attribute the rise to various factors, including exchange rate stabilization, a shift from a $3 billion standby arrangement to a longer deal with the International Monetary Fund (IMF), better earnings from index-heavy sectors. , and positive sentiment driven by a general recent monetary easing.
The Prime Minister also reiterated his government’s commitment to economic stability, pointing to achievements such as reduction in inflation, reduction of interest rates to 15 percent and record high remittances.
“We will continue to work diligently for the development of the country,” Prime Minister Shehbaz asserted, vowing to foil any attempt by the enemies of the country to destabilize the country’s development.
[ad_2]
Source link