The Pakistan Stock Exchange (PSX) reached a new milestone by surpassing the 133,000-point mark on the KSE-100 Index during intra-day trading, setting an all-time high. This record-breaking performance is attributed to positive economic policies, restored investor confidence, and improving macroeconomic conditions, leading to increased investor interest in equities. Despite a subsequent bearish trend where the KSE-100 Index lost 826 points, the overall market sentiment remains optimistic. Concurrently, remittances sent by overseas Pakistani workers hit a record $38.3 billion in the fiscal year 2024-25, marking a 26.6% increase from the previous year’s $30.3 billion. This rise was driven by higher inflows from countries including Saudi Arabia and the United States. The surge in remittances was praised by Pakistan’s Prime Minister as a positive economic indicator. Additionally, electricity prices in Karachi were reported to have decreased.
PM lauds surge in remittances for fiscal year 2024–25 #ARYNews https://t.co/HPxcE1ari3
کراچی والوں کیلئے بجلی سستی #ARYNews https://t.co/cW76WWEy9E
Remittances sent by overseas Pakistani workers rose by 26.6% to a record 38.3 billion U.S. dollars in fiscal year 2024-25, the State Bank of Pakistan said on Wednesday. The sharp rise was driven by higher inflows from countries including Saudi Arabia and the United States. https://t.co/oorNloAD8N