Dr Shamshad Akhtar appreciates Chinese partnership in reaching 100,000 mark

December 04, 2024 (MLN): Dr. Shamshad Akhtar, Chairperson of the Pakistan Stock Exchange (PSX), underscored the significance of partnerships with the Chinese consortium in driving the exchange's growth.

Speaking at the Gong Ceremony on Tuesday, she highlighted the recent achievement of the KSE-100 Index crossing the 100,000-point milestone, emphasizing its importance in showcasing Pakistan's economic potential to the global community.

Dr Akhtar emphasized the role of the government in fostering market growth through targeted programs.

She also added that the PSX’s ability to finance long-term developmental projects makes it a critical asset for Pakistan’s economic future.

Reflecting on the market’s performance, Dr Akhtar pointed out that the PSX has delivered a 7% return in dollar terms over the past five years.

Dr. Shamshad Akhtar highlighted that the exchange delivered a 7% dollar-based return over the past five years.

Dr. Shamshad Akhtar, Chairperson of PSX, welcomed the distinguished guests, stating, “Ahsan Iqbal has been a voice for developing countries at the United Nations.”

She praised the federal minister’s contributions to both global and national economic progress.

She further noted that the PSX remains one of the best-performing markets globally, driven by strong economic indicators and policies.

“Crossing 100,000 points last week has brought renewed enthusiasm to the market,” she said.

PSX’s ability to finance long-term developmental projects makes it a critical asset for Pakistan’s economic future, she further added.

Mr. Ahsan Iqbal, the Chief Guest at the ceremony said, "Crossing the 100,000 marks in the 100-Index showcases Pakistan’s potential to the world”.

“The federal government remains committed to supporting initiatives that strengthen the capital market and contribute to sustainable economic development”, he further noted

Addressing the nation’s recent challenges, Mr. Ahsan Iqbal said, “In April 2022, when we took charge, Pakistan was on the verge of default.

The choice was to save politics or the state.” He credited the government’s tough decisions, such as increasing energy for stabilizing the economy.”

“Inflation has dropped from 38% to below 5% in two years, and the stock market has soared from 30,000 to 100,000 points,” he noted, highlighting the PSX as one of the most successful markets globally.

Mr. Farrukh H Sabzwari, MD/CEO PSX, stated, “KSE-100 Index surpassing 100,000 points underscores the collective efforts of market participants & stakeholders, reflecting the trust of investors in Pakistan's economy”.

“For the management of PSX, this is a time for serious reflection. We need to move expeditiously on increasing investor numbers, listing more companies, and ensuring we make PSX a true representative of GDP ", he added.

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