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The KSE-100 index reaches a height of 82,317 points amid the ongoing IMF accord.

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3 months ago

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Supported by the hope that a deal with the International Monetary Fund (IMF) will go through after the global lender mentioned Pakistan in its board meeting set for September 25, the Pakistan Stock Exchange (PSX) also saw a rising trend in the final day of trading.

The KSE-100 index reached a record 82,317 points on Friday as the stock market went beyond the 82,000-point barrier after rising 858 points on Friday.

But in the interbank market, the US dollar is still losing value compared to the Pakistani rupee, trading at Rs277.70 after shedding Rs0.21.

As the KSE-100 index hits an all-time high of 81,972 points, bulls are on the march.

The Pakistan Stock Exchange has been trending upward in the previous several days, helped by the expectation that the International Monetary Fund (IMF) will approve money during its executive board meeting on September 25.

After rising more than 1,500 points in the first half of Thursday, the KSE-100 index now stands at 81,972 points.

The KSE-100 index hit 81,939 points on July 19, 2024, and that must be kept in mind.

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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