Tag: political stability

  • ‘PPP will stay in Parliament for constructive criticism,’ says Faisal Karim Kundi

    ‘PPP will stay in Parliament for constructive criticism,’ says Faisal Karim Kundi

    As confusion around the formation of the government rages, Pakistan Peoples Party (PPP) leader Faisal Karim Kundi has said that if his party had chosen to sit in opposition, the country would’ve gone towards another election.”The PPP will stay in Parliament for constructive criticism,” he stated.

    While addressing a press conference in Islamabad today, Kundi said PPP will contest the seats of Senate Chairman and Speaker of the National Assembly (NA), adding that PPP will also help Pakistan Muslim League-Nawaz (PML-N) form a government in the centre.

    The politician also urged all political parties to work together for political stability in Pakistan.

  • Pakistan’s stock market surges to all-time high of 53,123.04 points

    Pakistan’s stock market surges to all-time high of 53,123.04 points

    The Pakistan Stock Exchange (PSX) continued its impressive performance, with the benchmark KSE-100 index surging by over 700 points and approaching the historic milestone of 54,000 during Monday’s trading session.

    As the closing bell neared, the KSE-100 Index stood at 53,860.36, reflecting a remarkable gain of 737.33 points, or 1.39 per cent.

    In the preceding week, the KSE-100 index achieved a then-record high, driven by robust buying primarily from local investors, bolstered by institutional support.

    The benchmark index witnessed a substantial week-on-week increase of 2,179.20 points, breaching the 53,000 mark and concluding at an all-time high of 53,123.04 points, a historic first.

    Monday’s trading session witnessed broad-based buying, with key sectors such as cement, chemicals, commercial banks, and OMCs all trading in positive territory.

    Market analysts attributed this positive momentum to an overall improvement in economic indicators, notably the State Bank of Pakistan’s (SBP) decision to maintain interest rates at 22 per cent during the last Monetary Policy Committee (MPC) meeting.

    Additionally, a decrease in the inflation rate, with the October 2023 Consumer Price Index (CPI) at 26.9 per cent year-on-year and favourable feedback from the International Monetary Fund (IMF) mission currently visiting Pakistan, further enhanced market sentiment.

    Furthermore, the announcement of final election dates by the country’s election commission, signifying political stability, also played a significant role in creating favourable conditions within the market.

  • ‘No need to panic’: PM Shehbaz hopes Pakistan and IMF will sign deal this month

    ‘No need to panic’: PM Shehbaz hopes Pakistan and IMF will sign deal this month

    Prime Minister Shehbaz Sharif reiterated on Sunday that Pakistan has successfully fulfilled all the prerequisites set by the International Monetary Fund (IMF) to revive the halted bailout program. He expressed confidence that no obstacles remain in finalising a staff-level agreement between the nation and the IMF, emphasising that Pakistan is committed to resolving its financial challenges.

    During the inauguration of the Sabzazar Sports Complex in Lahore, Prime Minister Shehbaz hinted at a contingency plan, stating, “If there are further delays in reaching an agreement with the IMF, I will address the situation.” He urged the public not to panic, assuring them that Pakistan will be safeguarded by the divine will of Allah. He expressed hope that the government and the IMF will achieve a staff-level agreement within the current month.

    Highlighting the significance of political stability, the Prime Minister emphasised its crucial role in ensuring economic stability. He pledged to bring about economic prosperity in the country under the leadership of PML-N supremo Nawaz Sharif.

    In strong criticism of the former ruling party, Prime Minister Shehbaz held deposed Prime Minister Imran Khan responsible for the events of May 9 and vowed to bring all those involved in the violent protests and attacks on civil and military installations to justice.