Pakistan Stock Exchange Soars with Record Gain of 2299 Points Post-Budget Presentation
KARACHI, June 13: The Pakistan Stock Exchange (PSX) experienced a significant surge today, with the PSX 100 Index soaring by 2,299 points to reach an impressive 75,097 points. This remarkable boost follows the presentation of the federal budget, indicating strong investor confidence.
Farrukh H Khan, Managing Director of the Pakistan Stock Exchange, praised the newly unveiled budget, lauding Prime Minister and Finance Minister for balancing economic and political challenges. "The inclusion of new sectors in the tax net and measures targeting non-filers are commendable steps. Effective tax collection and utilization are crucial for economic stability," Khan stated.
He further emphasized that the budget aligns with the goals of the IMF program and stressed the importance of improving citizens' living standards through basic facilities, which in turn encourages tax compliance. Khan also highlighted the significance of phase two of the China-Pakistan Economic Corridor (CPEC) and expressed optimism about the budget's positive reception.
This economic upturn follows Federal Finance Minister Senator Muhammad Aurangzeb's presentation of a comprehensive budget worth 188 trillion 87 billion rupees. The market's response underscores investor confidence in the government's fiscal policies and future economic prospects.
