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PSX surpasses 72,000 and reaches an all-time high.

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8 months ago

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During intraday trading, the benchmark KSE-100 index increased by 854.19 points from its previous finish of 71,359.40 points to stand at 72,213.59.

The KSE-100 index broke yet another record, according to Muhammad Sohail, CEO of Topline Securities. According to him, following a record current account surplus, consumer inflation is anticipated to decline.

This outstanding accomplishment indicates strong growth potential in the near future and demonstrates investors’ faith in the nation’s economic prospects.

On Monday, the KSE-100 index broke beyond the crucial 71,000 threshold.

The KSE-100 Index dropped 74.06 points (-0.10 percent) to close at 71,359.40 points on Tuesday, marking a turbulent session for the Pakistan Stock Exchange.

Although the market started the day on a strong up note, trading remained erratic as the index fluctuated in both directions.

The last 45 minutes saw significant selling pressure on the index as a result of profit-taking; otherwise, the session had stayed in the range.

It is important to note that Islamabad is presently expecting the transfer of $1.1 billion under the terms of the stand-by arrangement (SBA), which was signed in the final days of the coalition government led by the PDM and was in force from July 1, 2023, to March 31, 2024.

It was previously reported that Pakistan has formally requested the International Monetary Fund (IMF) to seek the next bailout package under the Extended Fund Facility (EFF), which is expected to total between USD 6 and USD 8 billion.

Pakistan has applied twice to the International Monetary Fund (IMF) for support under two different categories: additional climate funding and the extended fund facility (EFF).

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

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4 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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4 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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