KARACHI (Dunya News) - Caretaker Prime Minister Anwaar-ul-Haq Kakar said that the stock market always plays an important role in the national economy.
Addressing a ceremony to mark the first auction of Ijarah Sukuk Bond issued by the Pakistan Stock Exchange on Friday, he said that the collective efforts of all stakeholders have successfully brought the economy back on track.
The caretaker prime minister said that the investors have regained confidence after successful signing of a standby agreement with the International Monetary Fund.
He congratulated all the stakeholders on auction of the government’s Ijarah Sukuk through PSX.
“Pakistan’s economy faced multiple challenges at the start of 2023-2024 but the government addressed structural and macroeconomic issues to rectify the situation,” the prime minister said.
He added that the bullish trend in the stock exchange became possible by the participation of foreign investors and stable exchange rate.
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He also called for making efforts to build a capital market that reflects the economic strength.
The PM said that the exchange rate of dollar was at 307 rupees in September and today it is at 284 rupees.
“The stock market has been increased by 40 percent since September,” Kakar said.
The prime minister also rang the gong of the stock exchange and termed it a symphony of progress and prosperity.