ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday lauded the Pakistan Stock Exchange (PSX) for surpassing the significant 119,000-point threshold for the first time, saying the market’s bullish opening session mirrored growing investor confidence.
The benchmark KSE-100 index soared by over 1,400 points shortly after trading commenced, reaching an all-time high of 119,421.81 points.
The market rally coincides with Sharif’s four-day visit to Saudi Arabia, where he met separately with Crown Prince Mohammed bin Salman and Investment Minister Khalid Al-Falih to discuss strengthening economic cooperation.
“The positive trajectory in the Pakistan Stock Exchange signifies the increasing trust of traders and investors in the government’s economic policies,” the prime minister said in a statement issued by his office from Jeddah.
“The government is providing all necessary facilities on a priority basis to ensure a conducive environment for business and investment in the country,” he added.
Earlier this month, an International Monetary Fund (IMF) team concluded its review of Pakistan’s economic reforms under a $7 billion loan program.
The international lender described Pakistan’s progress as “strong,” though its mission departed without finalizing the staff-level agreement.
The IMF’s positive assessment, nevertheless, led to bullish sentiment in the market, despite recent upticks in militant violence.
The ongoing PSX session saw the KSE-100 index dip below its earlier high, trading at 118,526.63 points at the time of filing this report.
PM Sharif hails investor confidence as Pakistan Stock Exchange crosses 119,000 points
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PM Sharif hails investor confidence as Pakistan Stock Exchange crosses 119,000 points
- KSE-100 index soared by over 1,400 points after trading commenced, hitting an all-time high of 119,421.81
- Shehbaz Sharif says his government is trying to ensure conducive business and investment environment
Death toll in Pakistan wedding suicide blast rises to six
- Attack targeted members of local peace committee in Khyber Pakhtunkhwa’s Dera Ismail Khan
- Peace committees are community-based groups that report militant activity to security forces
PESHAWAR: The death toll from a suicide bombing at a wedding ceremony in northwestern Pakistan rose to six, police said on Saturday, after funeral prayers were held for those killed in the attack a day earlier.
The bomber detonated explosives during a wedding gathering in the Dera Ismail Khan district of Khyber Pakhtunkhwa province, injuring more than a dozen, some of them critically.
“The death toll has surged to six,” said Nawab Khan, Superintendent of Police for Saddar Dera Ismail Khan. “Police have completed the formalities and registered the case against unidentified attackers.”
“It was a suicide attack and the Counter Terrorism Department will further investigate the case,” he continued, adding that security had been stepped up across the district to prevent further incidents.
No militant group has claimed responsibility for the blast so far.
Khan cautioned against speculation, citing ongoing militancy in the area, and said the investigation was being treated with “utmost seriousness.”
The explosion targeted the home of a member of a local peace committee, which is part of community-based groups that cooperate with security forces and whose members have frequently been targeted by militants in the past.
Some media reports also cited a death toll of seven, quoting police authorities.
Emergency officials said several of the wounded were taken to hospital soon after the blast.
Militant attacks have intensified in parts of Khyber Pakhtunkhwa since the Taliban returned to power in neighboring Afghanistan in 2021, with Islamabad accusing Afghan authorities of “facilitating” cross-border assaults, a charge Kabul denies.
