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PSX is on a strong uptrend, with the KSE-100 crossing 80,000 points.

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3 months ago

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With a notable increase of 999 points, the Pakistan Stock Exchange (PSX) began trading on Friday. This allowed the KSE-100 index to cross the 80,000-point threshold, which had been reestablished following recent economic developments.

At the beginning of Friday’s trade, the index hit 80,016 points. The anticipated completion of a deal with the International Monetary Fund (IMF), which has fueled market optimism, is primarily responsible for the optimistic trend.

The upward trend on the stock exchange was also attributed by analysts to a 2% decline in interest rates and a drop in the price of oil globally.

The stock market closed at 79,017 points at the end of the previous day’s trade.

September 25, the IMF’s Executive Board meeting is scheduled for this Thursday. It is possible that the meeting will approve Pakistan’s new loan package. During a press briefing, Julia Kozack, the Director of Communications at the IMF, verified this.

Focusing on a possible $7 billion loan package, Kozack claims that the IMF’s talks with Pakistan were effectively wrapped up in July. In the face of persistent fiscal constraints, the initiative seeks to support Pakistan’s efforts to promote economic reforms and stability.

Kozack emphasized the significance of the next meeting for the nation’s financial prospects when he said, “The IMF is expected to review and possibly approve the loan program for Pakistan during the board meeting on September 25.”

However, as SBP Governor Jameel Ahmed revealed during an analyst conference that followed the recent monetary policy pronouncement, the State Bank of Pakistan (SBP) has made plans to address the nation’s external financial imbalance.

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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6 days ago

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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6 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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