PSX starts new year with strong rally gaining 1,828 points

The Pakistan Stock Exchange's (PSX)benchmark KSE-100 Index climbed 1,828.19 points, or 1.59% to reach an intraday high of 116,955.09 during early trading. After briefly dipping to an intraday low of 114,719.89, reflecting a 0.35% change, the market stabilised.

The market’s upward momentum comes on the back of improving economic fundamentals and optimism surrounding the government’s economic reforms. Clarity on key taxation policies, better-than-expected revenue collection, and a stabilising inflationary environment have bolstered investor confidence.

Adding to the optimism, Prime Minister Shehbaz Sharif unveiled “Uraan Pakistan,” a comprehensive five-year National Economic Transformation plan designed to rejuvenate the country's economy. The initiative, which focuses on export-led growth through the 5Es – exports, e-Pakistan, environment, energy, equity, and empowerment – seeks to attract $10 billion annually in foreign investment while fostering local investment.

Launching the logo, website, and book on the Uraan Pakistan initiative, Prime Minister Shehbaz outlined ambitious goals, including achieving a sustainable GDP growth rate of 6% by 2028, creating one million jobs annually, and securing $10 billion in annual foreign investment, while also fostering a conducive environment to stimulate local investment. The plan prioritises the IT, agriculture, exports, and mining sectors as pillars for sustainable growth.

SuchTV, 01 Jan, 2025 Visit to News Source Webpage

PSX starts new year with strong rally gaining 1,828 points

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