Pakistan stocks rally continues as market crosses record 104,000 points

Stockbrokers watch an index board showing the latest share prices during a trading session at the Pakistan Stock Exchange (PSX) in Karachi, Pakistan, on September 20, 2021. (AFP/ File)
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Updated 03 December 2024
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Pakistan stocks rally continues as market crosses record 104,000 points

  • The benchmark KSE-100 index gained 1,284 points, or 1.24 percent, to close at 104,559 points on Tuesday
  • The development came amid slowing annual inflation, narrowing trade deficit and increasing exports

ISLAMABAD: The Pakistan Stock Exchange (PSX) on Tuesday continued its momentum and surged by more than 1,000 points to close at another record high, with stock analysts attributing it to upbeat economic data and a possible policy rate cut.
The benchmark KSE-100 index gained 1,284 points, or 1.24 percent, to close at 104,559 points on Tuesday afternoon, compared to the previous day close of 103,274 points.
The development came as Pakistan’s annual consumer inflation slowed to 4.9 percent in November, amid a narrowing trade deficit and increasing exports.
“Upbeat data on $8.65 billion trade deficit narrowing by 7.4 percent, and $13.69bn exports, up by 12.57 percent, for Jul-Nov 2024 played a catalyst role in record surge at PSX,” Ahsan Mehanti, chief executive officer (CEO) of Arif Habib Corporation, told Arab News.
Consumer inflation cooled from 7.2 percent in October, a sharp drop from a multi-decade high of nearly 40 percent in May 2023. The South Asian country also slashed interest rates by 250 basis points earlier in November to help revive a sluggish economy amid a big drop in the rate of inflation.
Mehanti said the bullish trend was led by scrips across the board as investors eyed big policy rate cut next week.
The PSX breached the 100,000-mark for the first time ever on November 28 to close at 100,082 points.

Earlier on Tuesday, Planning Minister Ahsan Iqbal, on behalf of the Prime Minister, congratulated the PSX on achieving over 60 percent growth in 2024. 
He was speaking at the PSX gong-striking ceremony, at which he emphasized the importance of four key factors for national development: peace, political stability, consistent policies, and commitment to reforms, the state-run APP news agency reported. 
“Pakistan needs these four pillars more than ever,” Iqbal was quoted as saying.


Pakistan minister calls for integrating ocean awareness into education to preserve ecosystems

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Pakistan minister calls for integrating ocean awareness into education to preserve ecosystems

  • Pakistan’s maritime sector posted a record $360 million profit in 2025 following a year of sweeping reforms
  • Junaid Anwar Chaudhry says education equips youth to make informed decisions, contribute to blue economy

KARACHI: Pakistan’s Maritime Affairs Junaid Anwar Chaudhry has urged integrating ocean awareness into formal education systems and empowering youth as active partners in order to preserve marine ecosystems, his ministry said on Saturday.

Chaudhry said this at a meeting with Minister of State for Education and Professional Training, Wajiha Qamar, who called on him and discussed strategies for enhancing marine education, literacy, and youth engagement in sustainable ocean management.

Pakistan’s maritime sector posted a record Rs100 billion ($360 million) profit in 2025 following a year of sweeping reforms aimed at improving port efficiency, cost-cutting, and safeguarding marine ecosystems to boost the blue economy.

“Understanding our oceans is no longer optional, it is essential for climate resilience, sustainable development, and the long-term health of our maritime resources,” Chaudhry said, highlighting the critical role of marine literacy.

The minister said education equips youth to make informed decisions and actively contribute to marine conservation and the blue economy, urging inclusion of marine ecosystems, conservation and human-ocean interactions into curricula, teacher training and global citizenship programs.

“Initiatives like ‘Ocean Literacy for All’ can mainstream these elements in national policies, school programs, and community workshops to build proactive citizenship on marine challenges,” he added.

Ocean Literacy for All is a UNESCO Intergovernmental Oceanographic Commission–coordinated global initiative under the UN Ocean Decade (2021–2030) that promotes ocean awareness, education, and conservation.

Chaudhry announced reforms in maritime education, including granting degree-awarding status to the Pakistan Marine Academy, and the establishment of the Maritime Educational Endowment Fund (MEEF) to provide scholarships for deserving children from coastal communities.

“The scholarship program promotes inclusive development by enabling access to quality education for youth from over 70 coastal and fishing communities, particularly in Sindh and Balochistan,” he said.

The discussions underscored raising awareness about oceans, coastal ecosystems and marine resources, according to the Pakistani maritime affairs ministry. Both ministers stressed the need to integrate climate and marine education from classrooms

to community programs, addressing risks like rising sea temperatures, coastal erosion, biodiversity loss and pollution.

“Incorporating marine science and ocean literacy into curricula can help students connect local challenges with global trends,” Qamar said, underscoring education’s transformative power in building social resilience.

The meeting explored translating complex marine science into accessible public knowledge through sustained, solution-oriented awareness campaigns, according to the maritime affairs ministry.

With coastline facing pressures from climate change, pollution, and overexploitation, the ministers called for a coordinated approach blending formal education, informal learning and youth-led advocacy.

“A joint effort by the Ministries of Maritime Affairs and Education can cultivate an ocean-literate generation, transforming vulnerability into resilience and ensuring the long-term sustainability of coastal and marine ecosystems,” Chaudhry said.