Capital markets started the year on a positive note, supported by renewed optimism around economic reforms and strategic initiatives.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) rose 1,828.19 points or 1.59 percent to touch an intraday high of 116,955.09 in early trade. After dipping briefly to an intraday low of 114,719.89, the market settled, reflecting a change of 0.35%.
The market’s upward momentum comes on the back of improving economic fundamentals and optimism around the government’s economic reforms. Clarification of key taxation policies, better-than-expected revenue collections, and a stable inflation environment have bolstered investor confidence.
Adding to this optimism, Prime Minister Shahbaz Sharif unveiled “Uraan Pakistan”, a comprehensive five-year national economic transformation plan designed to revive the country’s economy. The initiative, which focuses on export-led growth through the 5Es of exports, e-Pakistan, environment, energy, equity, and empowerment, promotes local investment and foreign investment of $10 billion annually. Wants to attract.
Launching the logo, website and book on the Uran Pakistan initiative, Prime Minister Shehbaz outlined ambitious goals, including achieving a sustainable GDP growth rate of 6 percent by 2028, creating 1 million jobs annually, and includes attracting foreign investment of $10 billion annually. Also promote an enabling environment to encourage local investment. The plan prioritizes IT, agriculture, exports and mining sectors as pillars of sustainable development.