PSX rise shows investors’ confidence in govt’s policies: PM

Prime Minister Muhammad Shehbaz Sharif has felicitated the entire nation on the bullish trend at Pakistan Stock Exchange which has crossed historic 90 thousand points at the 100-index. In a statement on Friday, he said this sharp upswing in the stock market after 14 years is the result of tireless work of the government's economic team. The Prime Minister said it reflects the confidence of investors in government's policies. He lauded the economic team for the 36 percent increase in the stock market since March this year, drop in inflation from 38 to 6.9 percent and overall economic stability. The Prime Minister said remittances sent by Pakistanis living abroad have reached a record 8.8 billion dollars in the last quarter while the current account has been in surplus for two consecutive months. He said contracts with Independent Power Producers (IPPs) are being reviewed for providing relief to electricity consumers. Shehbaz Sharif said long-term facility of 7 billion dollars from the IMF will further s tabilize the economy. He said the positive economic indicators have shattered the dreams of those who took the country at the brink of default. The Prime Minister said he had promised the people that he would not let the country face the consequences of incompetence of those who are criminally negligent. He expressed satisfaction that there has been improvement on every front in the country and there will be more good news regarding the improvement of the economy in the next few days. Source: Radio Pakistan