The Pakistan Stock Exchange (PSX) is thriving as the KSE-100 index has crossed the remarkable 120,000 mark. The index soared by 1,729.48 points, reaching 120,667.59 during intraday trading. It even hit a high of 120,793.41 points, reflecting strong investor confidence.
This surge follows an important announcement from Prime Minister Shehbaz Sharif. He revealed a 15% cut in electricity tariffs, reducing rates by Rs7.41 per unit. This reduction aims to ease financial burdens for about 40.3 million consumers and boost energy consumption across the country.
Moreover, the new average electricity rate for households will be Rs34.37 per unit. Industrial rates have also dropped to Rs40.51 per unit, helping businesses. These changes resulted from successful negotiations with the International Monetary Fund (IMF), despite initial challenges.
However, challenges remain as US President Donald Trump announced new tariffs on Pakistani goods. He justified these tariffs as necessary to correct trade imbalances. As the US continues to be a key trading partner, these developments will affect the ongoing economic landscape for Pakistan.