Shehbaz Sharif commended his economic team for orchestrating a remarkable 36 percent rise in the stock market since March—a feat he framed as reflective of the nation’s economic resilience
By our correspondent
ISLAMABAD: Prime Minister Shehbaz Sharif offered a celebratory message to the nation on Friday as the Pakistan Stock Exchange (PSX) recorded an unprecedented high, with the KSE-100 index surpassing the 90,000-point threshold. Lauding this historic milestone, the Prime Minister attributed it to his administration’s focused economic strategies, which he said have cultivated renewed investor confidence and energized market performance.
In an official statement, Shehbaz Sharif commended his economic team for orchestrating a remarkable 36 percent rise in the stock market since March—a feat he framed as reflective of the nation’s economic resilience. The Prime Minister underscored this growth, noting a sharp reduction in inflation, which had dropped from an alarming 38 percent to a manageable 6.9 percent. He went on to highlight additional indicators of stability, citing a record increase in remittances from Pakistanis abroad, amounting to $8.8 billion in the last quarter alone.
This boost in foreign exchange inflows has reportedly strengthened Pakistan’s balance of payments, reinforcing its financial standing amid challenging economic conditions. The current account, he added, has been in surplus for the last two months, a crucial shift that suggests the economy is on a path toward sustainable growth. Another key element in the government’s financial stabilization strategy, the Prime Minister noted, is the forthcoming $7 billion support facility from the International Monetary Fund (IMF). This injection, he asserted, will act as a stabilizing force for Pakistan’s economy, fortifying its capacity to tackle external obligations and buttressing investor confidence.
Shehbaz Sharif took a direct stand against predictions of an economic downturn, declaring that positive developments have effectively dispelled fears of an imminent default, a sentiment he acknowledged had created public uncertainty and investor apprehension in recent months. The Prime Minister expressed pride in the progress achieved thus far, describing it as a reflection of his administration’s commitment to fiscal prudence and sustainable growth. He pledged that these recent advances are just the beginning, assuring the public that further improvements are on the horizon. Emphasizing his administration’s focus on steering Pakistan out of economic hardship, Shehbaz Sharif characterized these gains as a testament to the government’s resolute approach to economic governance and its focus on fostering a robust, investor-friendly environment.
