Wednesday saw stocks continue their upward trend, helped by the finance minister’s prediction that policy rates and inflation will continue to decline.
At 11:58 p.m., the KSE-100 Shares Index of the Pakistan Stock Exchange (PSX) reached an intraday high of 86,437 points, up 773 points.
This raised optimism for the economy, and suggestions that Saudi Arabia was about to ink deals worth $2 billion with Pakistan also helped to boost confidence.
On Tuesday, Senator Muhammad Aurangzeb, the federal minister of finance and revenue, made a suggestion about future declines in the central bank’s policy rates and consumer price inflation.
The finance minister declared, “The government has worked hard to bring about economic stability,” adding that the ruling coalition’s efforts were beginning to bear fruit.
