ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif praised the historic performance of the Pakistan Stock Exchange (PSX), as the KSE-100 Index crossed the threshold of 100,000 points for the first time in history.
The premier said that the success had come courtesy of investor confidence in the policies of his regime and relentless efforts by the economic team steering the national economy towards stability and growth.
“The stock exchange crossing 100,000 points for the first time reflects the business community’s and investors’ trust in government policies,” said PM Shehbaz.
The KSE-100’s impressive worth rise comes as part of a much broader market recovery where the index between 40,000 points and 100,000 soared by 150% over the last 17 months since January 2021.
Much of this is attributed to exchange rate stability, shifting from a $3-billion Stand-By Arrangement to a longer agreement with the International Monetary Fund (IMF), improved earnings arising from index-heavy sectors and positive general sentiment brought by recent monetary easing.
The prime minister reiterated the determination of his government towards the economic stability, bearing in mind factors such as falling inflation, 15% interest rates, and unrivalled remittances.
“We will continue to work diligently for the country’s progress,” PM Shehbaz emphasised, vowing to thwart any attempts by the country’s enemies to destabilise the nation’s development.
