Prime Minister Shehbaz Sharif on Thursday commended the Pakistan Stock Exchange (PSX) for its historic performance, as the benchmark KSE-100 Index crossed the 100,000-point threshold for the first time in history.
In a statement, the prime minister attributed the milestone to strong investor confidence in the government’s policies and the efforts of the economic team to steer 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,” PM Shehbaz said.
“The government’s economic team and officials working tirelessly to promote investment in the country deserve praise for achieving this milestone,” he added.
The KSE-100’s remarkable rise is part of a broader market recovery, with the index surging 150% from 40,000 to 100,000 points over the last 17 months.
Experts attribute this surge to a mix of factors, including exchange rate stability, the transition from a $3-billion Stand-By Arrangement to a longer agreement with the International Monetary Fund (IMF), improved earnings from index-heavy sectors, and a general positive sentiment driven by recent monetary easing.
The prime minister also reaffirmed his government’s commitment to economic stability, pointing to achievements such as a decline in inflation, interest rates reduced to 15%, and record-high remittances.
“We will continue to work diligently for the country’s progress,” PM Shehbaz emphasized, vowing to thwart any attempts by the country’s adversaries to destabilize the nation’s development.