Islamabad, October 25, 2024- Prime Minister Shehbaz Sharif has congratulated the nation as the Pakistan Stock Exchange’s 100-index surpassed the significant milestone of 90,000 points. In a statement released by the PM Office on Friday, he attributed the steady rise in the stock market since March 2024 to growing investor confidence in government policies.
“The swift surge in Pakistan’s stock market after 14 years is the result of the tireless efforts of our economic team,” PM Shehbaz stated. He highlighted a remarkable 36% increase in the stock market during this period, alongside a significant drop in the inflation rate from 38% to 6.9%, which he credited to the government’s economic measures. He also noted that the current account has been in surplus for the past two months, and Overseas Pakistanis sent record remittances totaling $8.8 billion in the previous quarter.
Furthermore, the Prime Minister emphasized that the government has initiated a process to revise contracts with Independent Power Producers (IPPs) to better support power consumers. He expressed optimism that the long-term $7 billion facility from the International Monetary Fund (IMF) would further enhance the country’s economic landscape. “Those who wished for Pakistan to default have had their dreams shattered,” he asserted, pledging to protect the nation—achieved through countless sacrifices—from the repercussions of past negligence. He added, “We saved the country by sacrificing our politics,” and expressed hope for more positive economic developments in the near future.
