Shares at the Pakistan Stock Exchange (PSX) hit an all-time high of 124,000 points on Wednesday as the proposed federal budget for the upcoming fiscal year was well-received by investors for being “neutral-to-positive”. Maintaining an aggressive stance on fiscal consolidation, as required by the International Monetary Fund (IMF), the government yesterday still managed to offer some notional relief to the salaried class in the budget for FY2025-26, along with incentives for the real estate and construction sectors to revive the struggling industrial sector and stimulate economic growth. While there had been uncertainties surrounding the taxation measures ahead of the budget announcement, the PSX remained bullish yesterday and gained nearly 400 points to cross the 122,000 point-mark, just before the budget was presented in the National Assembly. The benchmark KSE-100 index crossed the 124,000-point barrier at around 11am. It then witnessed a slight decline before resurging to 124,588.17 points at 3:30pm — 2,5...
Posts from PTI supporters on multiple social media platforms on Tuesday shared a clip of PTI’s interim Chairman Barrister Ali Gohar allegedly urging overseas Pakistanis to participate in a protest on June 14 against the army chief, Field Marshal Asim Munir. However, the video is a deepfake and he has not issued any such message. A senior trade delegation from Pakistan is due in Washington this week for talks with United States officials on the recently imposed American tariffs and related economic issues, diplomatic sources told Dawn. The PTI claims that Field Marshal Asim Munir would visit Washington around the same time, something that neither the US nor Pakistani officials have confirmed. While official dates for these visits are being withheld due to political sensitivities, the PTI, which has long opposed the current Pakistani establishment, has announced plans to stage large-scale demonstrations during the visit. In a tweet posted over the weekend, PTI’s Secretary for Overseas Affairs, Sajjad Burki, cal...