KSE-100 Index surges by 1,131.37 points, or 0.96%, to finish at 118,938.11
\n Islamabad
\nThe capital market continued its bullish momentum on Thursday, surging to an all-time high amid strong investor sentiment driven by a major government relief package for electricity consumers and improving economic indicators.
\nThe Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index rose by 1,131.37 points, or 0.96%, to finish at 118,938.11. The market touched an intraday high of 119,179.45, climbing 1,372.71 points, or 1.17%, from the previous close of 117,806.74. The day\u2019s low was recorded at 117,508.07.
\nThe rally was sparked by Prime Minister Shehbaz Sharif\u2019s announcement of a significant reduction in electricity tariffs for both domestic and industrial users.
\nAddressing a special event in Islamabad attended by cabinet members, industrialists, and business leaders, the premier said domestic electricity rates had been slashed by Rs7.41 per unit, bringing the cost down to Rs34 per unit. Industrial users also saw a reduction of Rs7.59 per unit.
\nThe move comes as part of the government\u2019s broader strategy to boost economic productivity and ease inflationary pressures on households and businesses.
\nThe reduction in electricity prices follows a prior request submitted to the National Electric Power Regulatory Authority (Nepra), which was approved after consultation with the International Monetary Fund (IMF). The IMF had earlier agreed to a Re1 per kilowatt-hour cut in utility rates under its ongoing $7 billion loan programme.
\nThursday\u2019s rally comes after a relatively flat session on Friday, when the KSE-100 Index closed marginally higher by 34.43 points, or 0.03%, to settle at 117,806.74. That session saw an intraday high of 118,147.25 and a low of 117,551.42.<\/p>\n","protected":false},"excerpt":{"rendered":"
KSE-100 Index surges by 1,131.37 points, or 0.96%, to finish at 118,938.11 Islamabad The capital market continued its bullish momentum on Thursday, surging to an all-time high amid strong investor sentiment driven by a major government relief package for electricity consumers and improving economic indicators. The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index rose by […]<\/p>\n","protected":false},"author":2,"featured_media":352583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-470433","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n