ISLAMABAD, November 29, 2024: Prime Minister Shehbaz Sharif on Thursday lauded the Pakistan Stock Exchange (PSX) for achieving a historic milestone, with the KSE-100 Index surpassing the 100,000-point mark for the first time in history.
In a statement, the prime minister credited this achievement to the strong investor confidence in the government’s policies and the dedicated efforts of the economic team in steering the national economy toward stability and growth.
This big achievement shows business community and investors confidence in the government’s policies, said Prime Minister Sharif.
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The surge in the KSE-100 Index is part of a broader market recovery, with the index rising by 150% from 40,000 to 100,000 points over the last 17 months.
Experts attribute the rise to several factors, including exchange rate stability, the transition from a $3-billion Stand-By Arrangement to a longer agreement with the International Monetary Fund (IMF), better earnings from key sectors, and overall positive sentiment driven by recent monetary easing.
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Prime Minister Sharif also reaffirmed the government’s commitment to ensuring economic stability, pointing to successes such as a decline in inflation, interest rates reduced to 15%, and record-high remittances.
He concluded by assuring the public that the government would continue working diligently for the country’s progress.