In the interbank market today, the US dollar gained value against the Pakistani Rupee. It increased by 4 paisas and closed at Rs. 282.21. Yesterday, the dollar had closed at Rs. 282.17, showing a minor but notable uptick.
Meanwhile, the Pakistan Stock Exchange (PSX) witnessed historic activity ahead of the federal budget announcement. The KSE-100 Index surged by 383 points, closing at 122,024 points. During the trading day, it even touched a new all-time high of 122,611 points, reflecting investor optimism.
Today, trading volume reached 590 million shares worth Rs. 21.8 billion. The market capitalization rose by Rs. 40 billion, reaching a total of Rs. 14,768 billion. This indicates strong investor interest and confidence just before the national budget release.
The government is set to present a budget worth Rs. 18,000 billion for the upcoming fiscal year. It is expected to include around Rs. 2,000 billion in new taxes. Non-development spending is projected to reach Rs. 16,286 billion, with a budget deficit of around 5% of GDP, or Rs. 6,501 billion.
Furthermore, the budget may eliminate tax exemptions across various sectors. The tax revenue target is likely to be Rs. 14,131 billion, while non-tax revenue is expected to reach Rs. 5,167 billion. Combined, the total revenue target is estimated at Rs. 19,298 billion.