ISLAMABAD: Prime Minister Shehbaz Sharif on Friday expressed optimism about further economic improvements in Pakistan, citing the positive impact of a $7 billion loan facility from the International Monetary Fund (IMF), after the Pakistan Stock Exchange (PSX) crossed the historic 90,000-mark earlier in the day.
The KSE-100 index surged 1,141 points, or 1.25 percent, to reach an all-time high of 90,087 during intra-day trading before closing just below the milestone at 89,993.96 points, up by 1,047.98 points, or 1.16 percent, from the previous close. Analysts attributed the bullish sentiment to rising investor confidence, reflecting improvements in the country’s economic indicators.
The prime minister also highlighted the market’s performance as a reflection of his administration’s economic policies since assuming power after the February 8 general elections this year.
“By the grace of Allah, the gradual rise in the stock market since March 2024 reflects investors’ confidence in the government’s policies,” said Sharif in a statement. “This sharp rise in the stock market, after 14 years, is a result of the tireless efforts of the economic team.”
“The $7 billion long-term facility from the IMF will bring further improvement to the economy,” he added.
Sharif noted that his administration’s economic measures, including a reduction in the inflation rate from 38 percent to 6.9 percent, have set the country on a path of sustained recovery.
He also highlighted that the PSX had surged by 36 percent since March, reflecting gradual financial stability.
“I am hopeful that in the coming days, there will be more good news regarding economic improvements,” he added.
Pakistan PM optimistic about economic progress as stock market breaches 90,000 points
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Pakistan PM optimistic about economic progress as stock market breaches 90,000 points
- Shehbaz Sharif says the $7 billion long-term IMF facility will further bring improvement to the economy
- He says the stock market has surged by 36 percent since March, reflecting gradual financial stability
Pakistan says it seized 32 square kilometers inside Afghanistan as border clashes escalate
- Security official describes ‘limited tactical action’ in Gudwana after Afghan assaults
- Islamabad accuses Kabul of sheltering militants as UN, China and Russia urge restraint
ISLAMABAD: Pakistan has seized a 32-square-kilometer area inside Afghanistan following overnight fighting, a security official said on Saturday, as cross-border clashes between the two countries escalated sharply.
A Pakistani security official, speaking on condition of anonymity, said troops carried out a “limited tactical action” in the Gudwana area opposite the Zhob sector along the frontier, capturing Afghan territory after responding to attacks on Pakistani positions.
“On the night of Feb. 26/27, posts opposite the Zhob sector launched anticipated physical attacks on multiple Pakistani positions,” the official said, referring to fighters linked to Afghanistan’s Taliban authorities, whom Islamabad identifies as Tehreek-e-Taliban Afghanistan (TTA).
“In response to aggressive unprovoked fire and physical attacks, Pakistan security forces launched a limited tactical action on the night of Feb. 27/28 in the general area of Gudwana with a view to capture TTA Tahir Post,” he continued, adding that 32 square kilometers of Afghan territory were seized.
The official said special combat teams crossed the border after preparatory bombardment, supported by intelligence, surveillance and reconnaissance assets providing “real-time battlefield awareness.”
He said 24 Afghan Taliban fighters were killed and 37 wounded, with no Pakistani casualties reported.
The claims could not be independently verified, and there was no immediate confirmation from Taliban authorities in Kabul of any territorial loss in the Gudwana area.
The latest clashes erupted after Pakistani airstrikes targeted what Islamabad described as militant hideouts inside Afghanistan over the weekend, triggering retaliatory fire along the frontier and sharply escalating long-running tensions. Islamabad accuses Kabul of sheltering Pakistani Taliban militants responsible for attacks inside Pakistan, an allegation that Afghanistan denies.
Pakistan’s Information Minister Attaullah Tarar said on Saturday evening that 352 Afghan Taliban fighters had been killed and more than 535 wounded since the latest phase of hostilities began.
Tarar said Pakistani strikes had destroyed 130 check posts, 171 tanks and armored vehicles and targeted 41 locations across Afghanistan by air. Those figures could not be independently verified.
The United Nations, as well as China and Russia, have called for restraint.
The United States said Pakistan has the right to defend itself against cross-border militancy.
