The Pakistan Stock Exchange (PSX) experienced a strong rally as investors reacted positively to reports of progress in talks with the International Monetary Fund (IMF).
The KSE-100 Index rose by 713 points, reaching a record high of 94,068 points, surpassing the 94,000-point mark.
Read more: PSX Reaches Record High as 100-Index Approaches 93,000
Earlier in the session, the index had already gained 574 points, reaching 93,932, driven by investor optimism about a potential IMF deal that could improve fiscal stability and support economic reforms in Pakistan.
In related news, the Federal Board of Revenue (FBR) assured the IMF on Wednesday that there would be no mini-budget and confirmed the government’s commitment to its annual tax target of Rs12,970 billion.
Additionally, the FBR stated that no General Sales Tax (GST) would be applied to petroleum products. Sources also mentioned that the IMF has expressed satisfaction with Pakistan’s economic performance, particularly the improvement in the tax-to-GDP ratio, which has increased from 8.8% to 10.3%, signaling positive progress in fiscal policies.
