Islamabad: Prime Minister Muhammad Shehbaz Sharif has congratulated the nation as the Pakistan Stock Exchange (PSX) surpassed the 90,000 points mark on its 100-index, marking a significant milestone. This peak, the highest in 14 years, reflects a robust upward trend and is attributed to the relentless efforts of the government’s economic team.
According to Ministry of Information and Broadcasting, the Prime Minister highlighted this achievement as evidence of the strong investor confidence in the government’s policies. He commended his economic team for the substantial 36 percent increase in the stock market since March. The administration also noted a significant reduction in inflation, from 38 percent to 6.9 percent, and praised the attainment of overall economic stability.
The economic improvements include record-high remittances of PKR8.8 billion from Pakistanis living abroad in the last quarter and a current account surplus for two consecutive months. Prime Minister Sharif also mentioned ongoing negotiations with Independent Power Producers to alleviate the cost of electricity for consumers and a PKR7 billion long-term agreement with the IMF intended to further stabilize the economy.
These developments, Sharif stated, have effectively dispelled concerns raised by critics about the country’s economic direction. He reassured the public of continued progress and anticipated more positive updates on the economic front in the near future.