ISLAMABAD: Pakistan Stock Market Emerges as a Top Performer in Asia
The Pakistan Stock Market (PSX) has become one of the best-performing markets in Asia, driven by a major surge in investor confidence. According to a report from Bloomberg, the market’s boom reflects growing trust in the country’s leadership, economic stability, transparency, and financial discipline.
A key indicator of this boom is the benchmark KSE-100 index, which has risen by nearly 40% this year. This impressive rally has been significantly fueled by domestic retail investors, whose numbers have swelled with 36,000 new trading accounts opened in the September quarter alone. Daily trading volume reached $200 million in October, a level not seen since 2017.
Analysts point to several factors behind the surge. The nation has moved back from the brink of a default risk that loomed in 2023, thanks to better economic policies and government stability. The extension of the military leadership’s tenure until 2030 is also seen as a sign of political continuity, which markets favor. Furthermore, improved ratings from global agencies like S&P Global and Fitch, along with expectations of a new deal with the International Monetary Fund (IMF), have created a wave of new enthusiasm among investors.
Prime Minister Sharif Directs Speedy Privatization of PIA, Mandates Retention of Airline’s Name
Prime Minister Shahbaz Sharif has issued directives for the swift and transparent privatization of Pakistan International Airlines (PIA), while also demanding a concrete plan to improve its operational efficiency. The orders were given during a high-level meeting chaired by the Prime Minister to review the national carrier’s affairs.
During the briefing, the Prime Minister was informed that the privatization process is moving forward, with four parties having pre-qualified for the bidding phase, which is set to commence shortly. The government plans to divest 75 percent of its shares in the airline. However, a key condition of the sale mandates that the new owners cannot change the iconic name and brand identity of PIA.
