KARACHI – The Pakistan Stock Exchange (PSX) has achieved another historic milestone by surpassing the 169,000 points barrier for first time in its history amid positive economic developments.
The benchmark KSE-100 index has recorded gains of 865.42 points during early session to reach all time high of 169,355.04 percent, driver by massive buying rally by investors on last day of the business week.
Analysts have noted that stocks are becoming the top choice for local investors. An expert highlighted that the preference for equities is driven by the limited returns from other investment options and the taxation benefits offered to stock market participants.
A day earlier, Minister for Finance and Revenue Senator Muhammad Aurangzeb emphasized that the government’s role is to ensure macroeconomic stability, introduce structural reforms and provide the right ecosystem for business and investment in the country.
Addressing “Pakistan Business Summit” in Peshawar, he underlined the government’s commitment to creating an enabling environment for the private sector to lead Pakistan’s economic growth.
Reviewing recent economic progress, Senator Aurangzeb highlighted a sharp decline in financing costs following reductions in the policy rate, improved foreign exchange reserves covering close to three months of imports and stability in the exchange rate.
He noted these developments have strengthened investor confidence and facilitated repatriation of dividends and profits.
