The Pakistan Stock Exchanges PSX benchmark KSE index crossed the mark on Monday for the first time in almost two years after gaining more than points . The stock market had last achieved this milestone on August . The market eventually closed . points or .
per cent up at . points after the index had recorded an increase of . points at am from the previous close of . . points . Market was bolstered by the announcement of a collaboration among four Pakistani stateowned enterprises and Saudi Arabia to execute a substantial bn refinery project within Pakistan .
Dalal Securities CEO Siddique Dalal said that there was positive news in the market regarding the release of Rs billion to reduce the . circular debt . This means the oil sector will get money resulting in higher dividends . However, the monetary policy announcement which is due today may create a hurdle in the markets performance .
The monetary policy decision is due to be released today . The Pakistan Economic Corridor CPEC is also expected to be a major project in the country’s oil and mineral development projects within Pakistan. The Chinese vice premier is expected to arrive in Pakistan this week.
The ChinaPakistan Economic Corridor is also set to begin working on the project in October. The market has also been boosted by a number of international delegations coming to Pakistan including the Chinese Vice Prime Minister’s visit to the country to meet with the Chinese vice prime minister to discuss the Shanghai Cooperation Organisation.
A number of major industrial development projects in the region. A major industrial projects are set to be completed in Pakistan” to be set up in a major industrial ventures in China’. A large number of industrial projects in Pakistan.
