KARACHI: The Pakistan Stock Exchange (PSX) began the week with a strong rise. The PSX 100 Index increased by 1,139 points and reached a new record level of 142,174 points.
At the end of last week, the index had closed at 141,034 points. The recent growth is linked to a new trade agreement with the United States, which has increased investor confidence.
In other economic developments, the price of gold has gone up by several thousand rupees per tola. The government has decided to import 100,000 more tons of sugar to address the ongoing shortage.
Pakistan is also facing a shortage of RLNG, and talks with Qatar are being planned to secure more gas supply. Inflation has reached its highest level in seven months, according to a warning issued by the State Bank.
Meanwhile, the government’s wheat pricing policy has failed to stabilize the market, and it is currently benefiting mill owners and landlords more than farmers.
