KARACHI – Pakistan Stock Exchange (PSX) witnessed another strong day as it climbed to record high to 118,000, driven by extensive buying that pushed the KSE-100 index up by nearly 1400 points.
On Thursday, PSX’s benchmark KSE-100 Index surged by 1,359.73 points as investors are motivated by positive developments in the country’s economic landscape, including government efforts to enhance revenue collection and the launch of a transformative economic growth plan aimed at boosting investments and fostering export-led growth.
He emphasized that export-driven growth is essential for the country’s economic development and called on the Federal Board of Revenue (FBR) to strengthen enforcement to meet the revenue targets set by the International Monetary Fund (IMF).
The premier highlighted government’s success in increasing revenue receipts to a 25-year high, though he acknowledged a significant gap between the collected revenue and the ambitious IMF targets. Positive inflation data further bolstered investor sentiment, with the Consumer Price Index (CPI) falling to 4.1% year-on-year in December 2024, down from 4.9% in November and a significant 29.7% in December 2023.
On trade front, Pakistan’s trade deficit grew by 35pc year-on-year in December, reaching $2.44 billion—the highest since April 2024. Imports surged to a 27-month high of $5.285 billion, while exports posted a modest 0.67% year-on-year increase, totaling $2.84 billion. The trade deficit widened by 47% month-on-month, reflecting an increase in import activity.
