Market optimism drives PSX to a new record as KSE-100 surpasses the 121,000 threshold.
The bulls persist in dominating the market on Wednesday, as the Pakistan Stock Exchange (PSX) attained a new all-time high of 121,000.
The KSE-100 ascended to an intraday peak of 121,104, having increased by nearly 600 points, bolstered by favorable investor mood and an enhancing macroeconomic perspective following the Asian Development Bank’s approval of a $800 million loan for Pakistan’s public financing program.
On Tuesday, the PSX 100-Index reversed to a bullish trend, increasing by 1,573.07 points, a positive change of 1.32 percent, and finishing at 120,450.87 points.
A total of 578,163,611 shares were exchanged today, compared to 497,940,020 shares on the preceding trading day, while the share value amounted to Rs 26.827 billion, in contrast to Rs 23.450 billion on the last trading day.
ADB endorses a $800 million initiative to enhance Pakistan’s public financing.
The ADB authorized a $800 million program on Tuesday to enhance fiscal sustainability and optimize public financial management in Pakistan.
The Enhanced Resource Mobilization and Utilization Reform Programme, Subprogramme 2, encompasses a policy-based loan of $300 million and ADB’s inaugural policy-based guarantee of up to $500 million, anticipated to mobilize funding of up to $1 billion from commercial banks.
“Pakistan has achieved notable advancements in enhancing macroeconomic conditions,” stated ADB Country Director for Pakistan Emma Fan. This initiative supports the government’s dedication to advancing policy and institutional reforms that will enhance public finances and foster sustainable growth.
The initiative facilitates extensive reforms to enhance tax policy, administration, and compliance, while improving public expenditure and cash management. It additionally fosters digitalization, investment facilitation, and the advancement of the private sector.
These initiatives seek to diminish Pakistan’s budget imbalance and governmental debt, while facilitating social and developmental expenditures. The initiative is supported by an extensive assistance package—comprising technical support and close collaboration with development partners—aimed at enabling Pakistan to establish enduring fiscal resilience and stability.
