KARACHI – In a striking surge, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index has broken through the prestigious 48,000 points barrier, surging with remarkable momentum. Within the opening hours of the final trading day of the week, the index recorded a robust gain of over 1,000 points.
This upward trajectory of the PSX owes much to an array of favorable factors, among which stands out the substantial investment commitments from Gulf nations, an impressive collective sum of $25 billion.
A tide of optimism has swept through the market, ignited by reports detailing the potential influx of strategic investments from Gulf countries. One notable highlight is the prospect of Saudi Arabia’s involvement in a monumental copper mining venture located in western Pakistan.
This mining project, an elaborate creation with a cost of $7 billion, has attracted significant attention. Insights from insiders suggest that negotiations between Saudi Arabia and project stakeholders are actively underway.
Simultaneously, separate conversations are reaching an advanced stage. Saudi officials and their Pakistani counterparts are in discussions to establish a cutting-edge Saudi oil refinery within Pakistan’s borders.
This ambitious endeavor, anticipated to carry a substantial price tag of up to $14 billion, holds the potential to considerably enhance the economic rapport between the two nations.
Adding to this momentum is a milestone achievement: the International Monetary Fund (IMF) has recently granted approval for an innovative scheme to address the persistent circular debt concerns within the gas sector.
Bulls rule PSX as KSE-100 crosses 45,000pts mark for first time in 14 months
