Karachi, Pakistan: A Rs7.69 cut in the per-unit electricity tariff to industries instantly impacted the economy, as PSX hit a record high and KSE-100 crossed 120,000 trading in one day.
Prime Minister Shehbaz Sharif congratulated industrialists and traders for their confidence in the government’s initiatives that resulted bullish trend as the benchmark KSE-100 index surged by 1,729.48 points, or 1.45%, current index at 120,667.59.
The trading volume stood at over 60 million shares, reflecting strong investor participation with a trading value that amounted to 5.12 billion.
According to a press statement issued by the PM Office, Prime Minister Muhammad Shehbaz Sharif expressed satisfaction over the Pakistan Stock Exchange rising 1800 points in a single day and crossing a new high of 120,000
PM Said:
“The positive direction of business in the Pakistan Stock Exchange reflects the growing confidence of traders and investors in the government’s economic policies. A major reduction in electricity tariffs has been made, which will not only provide relief to domestic consumers but is also welcome for the business community and industries. The improvement in economic indicators and business environment during the past year has been possible due to the government’s economic policies. The government is providing all facilities on a priority basis to provide a positive environment for business and investment in the country”, said PM Sharif.
