Prime Minister Shehbaz Celebrates Record Surge in Pakistan Stock Exchange

Prime Minister Shehbaz Celebrates Record Surge in Pakistan Stock Exchange

Islamabad, July 3, 2023: Prime Minister Shehbaz Sharif expressed his delight today over the unprecedented surge in the Pakistan Stock Exchange (PSX), extending his congratulations to the business community and the nation as a whole.

The PSX witnessed a remarkable upswing on Monday, with a surge of 5.38%, equivalent to 2,231 points. Opening at an impressive 43,684 points, the PSX benchmark indicated a renewed sense of investor trust and confidence in the country’s economic prospects.

The Prime Minister credited this surge to the staff level agreement reached with the International Monetary Fund (IMF), as well as the recent $3 billion standby arrangement. These developments have contributed to the revival of trust among investors and the business community, signaling a positive trajectory for Pakistan’s economic growth.

In an official statement issued by the PM Office, Shehbaz Sharif emphasized that the government’s persistent efforts and prudent policies were yielding tangible results, paving the way for the country’s economic revival.

“We are resuming the journey of economic development and reducing the inflation rate from the point where Quaid Muhammad Nawaz Sharif had left,” stated the Prime Minister. He expressed gratitude for the positive turn of events, noting that after facing significant challenges, a new era of hope was dawning upon the nation.

Prime Minister Shehbaz Sharif offered prayers to Allah Almighty for continued economic success and highlighted that the seeds of Pakistan’s development were taking root due to the government’s unwavering dedication, integrity, and commitment.

Furthermore, he reaffirmed the government’s commitment to realizing Quaid Muhammad Nawaz Sharif’s vision of progress, development, and welfare for the people. Drawing a parallel with the achievements of the previous PML-N government, he mentioned how they successfully tackled energy crises, terrorism, and other pressing issues while spearheading economic development.

The Prime Minister vowed to continue the pursuit of economic stability and national progress with the same passion, direction, and resilience. “Just as we launched the China Pakistan Economic Corridor (CPEC), revived the economy, maintained a low inflation rate of around 4%, achieved a growth rate of 6.1%, and kept the policy rate at 6% during 2013-2018 under the leadership of Muhammad Nawaz Sharif, we are embarking on the same path of development once again,” he asserted.

Shehbaz Sharif highlighted that the government would expedite the development process in various sectors, including agriculture, information technology, and industry. By doing so, he envisioned a decrease in inflation and the empowerment of the youth through increased employment and business opportunities.

As the Prime Minister expressed his joy over the surge in the stock market, the nation eagerly awaits the promised economic stability and progress under the new government’s leadership.

READ MORE: Pakistan’s Headline Inflation Increases to 29.4% in June 2023

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