ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday welcomed a record rally in the country’s benchmark stock index, crediting government policies and growing investor confidence for the milestone.
The KSE-100 Index crossed 127,000 points for the first time on the opening day of the new fiscal year, marking a significant boost for the country’s financial markets.
“The new fiscal year has begun with good news and a significant development in the economic field,” Sharif said in a statement. He described the surge as evidence of improving sentiment among investors and the business community.
Sharif said the performance reflected confidence in the government’s economic policies, which he credited for gradually stabilising the economy over the past year. He also praised the government’s economic team and reaffirmed his administration’s commitment to enhancing the investment climate.
“This fiscal year will be a milestone in our journey to strengthen the economy,” he said.
In a separate meeting, Sharif rejected speculation about the possible closure or merger of national institutions related to science, literature, and culture, saying the government remained committed to preserving and strengthening them.
“The government is not considering any proposal to close or merge institutions of scientific, literary, historical, and cultural importance,” Sharif said during talks with Senator Irfan Siddiqui of the Pakistan Muslim League-Nawaz (PML-N), according to a statement from the Prime Minister’s Office.
He described such institutions as vital to the country’s intellectual and cultural identity and said the government would work to make them “strong, effective, and efficient.” Siddiqui conveyed concerns from writers, scholars, and artists about potential downsizing. In response, Sharif announced the formation of a committee to improve the management of these institutions, aligning them with contemporary needs.
“Societies that neglect science, literature, and arts fall prey to mechanical thinking and lose subtle human emotions,” Sharif said.
Copyright Business Recorder, 2025
