Islamabad, Caretaker Prime Minister Anwaar-ul-Haq Kakar has attributed the recent stabilization of Pakistan’s economy to the collective efforts of various stakeholders. His remarks came during a ceremony marking the first auction of the Government Ijarah Sukuk Bond at the Pakistan Stock Exchange.

According to Ministry of Information and Broadcasting, Prime Minister Kakar emphasized that investor confidence has been restored following successful negotiations with the International Monetary Fund, the implementation of the 2023-24 annual budget, and improvements in fiscal and external accounts. He congratulated all parties involved in the auction of the Government Ijarah Sukuk through the Pakistan Stock Exchange (PSX).

The Prime Minister praised the performance of the PSX, noting its significant role in the national economy. He acknowledged the economic challenges faced at the beginning of the 2023-2024 fiscal year and highlighted the government’s efforts in addressing structural and macroeconomic issues.

Anwaar-ul-Haq Kakar also remarked on the bullish sentiment in the stock market, attributing it to an improved economy, the participation of foreign investors, high yield, and a stable exchange rate. He reiterated the government’s dedication to fostering a resilient capital market environment, recognizing its importance in absorbing economic shocks and driving stability.

During the ceremony, Caretaker Finance Minister Shamshad Akhtar also spoke, welcoming the Prime Minister and highlighting the Ijarah Sukuk as an innovative financial product. This initiative, being launched beyond the State Bank’s direct control, marks a significant milestone in government securities.

The ceremony culminated with the Prime Minister ringing the stock exchange’s gong, symbolizing not only market transactions but also progress and prosperity for the nation.