Federal Minister for Planning, Development
Ahsan Iqbal, officiated the ceremony, striking the
gong to open the trading day
Business Reporter
Karachi: The Pakistan Stock Exchange (PSX) marked a historic achievement by hosting a Gong Ceremony to honor the crossing of the 100,000-point milestone in the KSE-100 Index. Federal Minister for Planning, Development, and Special Initiatives, Mr. Ahsan Iqbal, officiated the ceremony, striking the gong to open the trading day.
Distinguished Presence at the Ceremony
The event was attended by notable figures, including PSX Chairperson Dr. Shamshad Akhtar, MD & CEO Mr. Farrukh H. Sabzwari, PSX board members, senior bankers, capital market participants, and other key stakeholders.
Dr. Shamshad Akhtar, in her welcome speech, commended Mr. Ahsan Iqbal’s contributions to economic progress, both nationally and globally. She highlighted the PSX’s performance as one of the best in the region, driven by strong economic indicators and robust policies.
Achievements and Economic Outlook
Dr. Akhtar emphasized the importance of government support in fostering market growth through targeted initiatives. She noted:
“Crossing 100,000 points last week has brought renewed enthusiasm to the market. The PSX’s role in financing long-term developmental projects makes it a cornerstone for Pakistan’s economic future.”
Dr. Akhtar also mentioned the PSX’s 7% return in dollar terms over the past five years and the pivotal role of partnerships with the Chinese consortium in driving the exchange’s growth.
Remarks by Federal Minister Ahsan Iqbal
As the chief guest, Mr. Ahsan Iqbal acknowledged the capital market’s vital role in Pakistan’s economic growth. He congratulated the PSX Board, Management, and market participants on behalf of Prime Minister Shahbaz Sharif, stating:
“Crossing the 100,000 mark in the KSE-100 Index showcases Pakistan’s economic potential to the world.”
He highlighted the government’s commitment to strengthening the capital market, noting that tough decisions taken since April 2022 have stabilized the economy.
“Inflation has dropped from 38% to below 5% in two years, and the stock market has surged from 30,000 to 100,000 points, making PSX one of the most successful markets globally,” he remarked.
Reflections by PSX Leadership
Mr. Farrukh H. Sabzwari, MD/CEO of PSX, praised the collective efforts of all stakeholders:
“This milestone reflects the trust of investors in Pakistan’s economy. We must focus on increasing investor participation, listing more companies, and ensuring PSX represents GDP growth effectively.”
Recognizing Stakeholders
The event was attended by representatives from brokerage houses, asset management companies, and senior bankers, making it a platform to acknowledge their contributions to this significant achievement.
A Historic Milestone for Pakistan’s Economy
The Gong Ceremony underscored the PSX’s resilience and the collective efforts that led to the KSE-100 Index surpassing 100,000 points, cementing its status as a thriving market with global recognition.
