Today, after the weekend and Eid holidays, the index will begin trading once again, with hopes of continued positive momentum.
KARACHI: Pakistan Stock Exchange (PSX) opened after long weekend today, at Friday’s (June 14) closing of 76,706.77 points. The index closed on Friday at a historic high with 498.61 points gain. Soon after opening, the index was seen hovering at 77,384.41 points, showing 677.64 points gains around 10:10 AM.
Major growth came in the benchmark KSE-100 index a day before, when the market grew by 3,411 points, marking the largest increase since the International Monetary Fund’s (IMF) bailout package last year.
Investor sentiment was further bolstered by the government’s decision to keep the capital gains tax rate unchanged in the federal budget 2024-24. Prior to this, the KSE-100 index had seen steep downfall owing to the uncertainty related to the budget.
Today, after the weekend and Eid holidays, the index will begin trading once again, with hopes of continued positive momentum.
Freelancers brought Pakistan $3.5 billion, says FM
Finance Minister Muhammad Aurangzeb spotlighted the achievements of freelancers in Pakistan, saying that these young entrepreneurs represent exports worth $3.5 billion.
Underscoring the significant economic potential of the country’s youth, FM Aurangzeb emphasised the need for a supportive policy framework to further harness this potential. He made these remarks in a press conference on Tuesday.
He clarified that these initiatives are independent of any International Monetary Fund (IMF) involvement, focusing instead on fostering a conducive environment for these digital natives.
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Speaking on general economic indicators, Aurangzeb mentioned that the government has maintained discounts on essential agricultural inputs such as fertilizers, seeds, and medicines.
Speaking on Prime Minister Shehbaz Sharif’s recent visit to China, the finance minister said that it was aimed at exploring technological advancements rather than seeking financial assistance.
This visit included discussions with top Agricultural Research Universities, where commitments were made to send Pakistani students to benefit from advanced research and training opportunities, he added.
Aurangzeb also lauded the efforts of the Chief Minister of Punjab Maryam Nawaz, recognising the positive impact of her recent announcements regarding the farming community.
He said that the federal government is also taking measures that are particularly beneficial for small farmers, ensuring that they receive the necessary support to thrive in a competitive market.
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