Bulls are still in control as PSX rises above 125,000.
Due to China rolling over $3.4 billion in commercial loans to Pakistan, the Pakistan Stock Exchange (PSX) opened Monday in a positive position.
Amid expectations that buying activity will increase in the hours ahead, the KSE-100 index has gained 827.08 points in the opening session, reaching 125,206.14 points.
The benchmark ended the week on a positive note, closing at 124,379.07 points after gaining 2,332.60 on Friday, or 1.91 percent.
Throughout the day, 773,409,701 shares worth Rs 37.567 billion were exchanged. 34 companies’ share prices stayed the same, while 334 of the 484 companies that traded their shares on the stock market saw gains and 116 experienced losses.
China ‘rolls over’ to Pakistan $3.4 billion in commercial loans
According to a finance ministry source on Sunday, China has rolled over $3.4 billion in loans to Islamabad, which, when combined with other recent commercial and multilateral lending, will increase Pakistan’s foreign exchange reserves to $14 billion.
According to the source, Beijing refinanced a $1.3 billion commercial loan that Islamabad had repaid two months prior and rolled over $2.1 billion that had been in Pakistan’s central bank’s reserves for the previous three years.
He added that $500 million in multilateral financing and an additional $1 billion from Middle Eastern commercial banks had been received.
“This aligns our reserves with the IMF goal,” he stated.
Pakistan’s low foreign reserves, which the IMF demanded be over $14 billion by the end of the current fiscal year on June 30, will be strengthened by the loans, particularly the Chinese ones.
Beginning on July 1, the government will implement a uniform power tariff.
The federal government has approached the National Electric Power Regulatory Authority (NEPRA) to establish a uniform power tariff system, which will take effect on July 1, 2025, as a significant step to streamline electricity pricing nationwide.
Sources claim that the Power Division has formally requested, in accordance with Rule 17 of the NEPRA Tariff Rules 1998, that all electricity users, regardless of their geographic location, be placed on an equal basis.
The application suggests adding inter-Discos (distribution companies) rate rationalization and subsidy adjustments to the new tariff structure.
The objective is to establish uniform power rates across the country, which should eliminate regional differences and simplify billing issues.
All interested parties, including representatives of the industry, consumer advocacy organizations, and provincial authorities, will have the opportunity to voice their opinions at a public hearing on the issue that NEPRA has set for July 1, 2025.
