Islamabad (TDI): Prime Minister Shehbaz Sharif congratulated the nation on Friday as the Pakistan Stock Exchange’s 100 Index crossed the historic 90,000-point level.
“This gradual rise in the stock market since March 2024 reflects investors’ confidence in government policies,” the premier said, as quoted by the Prime Minister’s Office.
He attributed this remarkable 14-year high to the relentless efforts of the economic team, noting a 36% stock market increase, a significant drop in inflation, and overall economic stability since March 2024.
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In the past few months, inflation has declined sharply from 38% to 6.9%.
PM Shehbaz also highlighted record remittances of $8.8 billion sent by overseas Pakistanis in the last quarter and noted that the current account has maintained a surplus for the last two consecutive months.
“To provide relief to electricity consumers, the government has begun revising agreements with Independent Power Producers (IPPs),” he added.
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PM Shehbaz remarked that the $7 billion IMF deal will further strengthen the economy. He said the government had proven wrong to those who anticipated Pakistan’s default.
“I had pledged to my people that I would not allow this country, built with countless sacrifices, to suffer from the negligence of the previous mismanagement.
Shehbaz said the coalition parties had sacrificed political gains to save the state. He was optimistic that further positive economic news would come in the coming days.
