Sindh governor praises booming stock market

Zubair says upbeat performance can be attributed to govt’s policies

Our Correspondent May 12, 2017

KARACHI: Sindh Governor Mohammad Zubair visited the Pakistan Stock Exchange (PSX) on Thursday to acknowledge the market’s all-time high above the threshold of 51,000 points.

PSX’s benchmark KSE 100-share Index closed at 51,426 points on Thursday, with a fresh gain of 322 points or 0.63%. On Wednesday, the index had crossed the 51,000 level for the first time.

Talking to the media, Zubair said the objective of his visit was to acknowledge the success of a booming stock market. “The booming market is the reflection of policies of the government in the centre. The market has kept on rising during the last four years,” he said.

“Almost all sectors of the economy, which are listed on the PSX, have shown tremendous growth. The sectors include textile, cement, steel, oil and gas exploration and production and automobile,” he added.

The Sindh governor said the rise in trading showed the confidence of investors in Pakistan. He further said that the country’s success could also be gauged from the rising collection of tax revenues.

“The tax collection is expected to reach Rs3,500 billion by June 30. This value stood at Rs1,900 billion four years ago,” he said. “The current government will continue to design policies, which will benefit investors and the general public.”

On the occasion, PSX Chairman Muneer Kamal briefed Zubair on the working of the stock market and the issues faced by it.

Published in The Express Tribune, May 12th, 2017.

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