PSX scales new high of 77,000 mark on the heels of budget 2024-25
Business
The PSX witnessed a bullish trend on the fifth and last day of the business week
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) on Friday set a new record by crossing the 77,000 points mark.
The PSX witnessed a bullish trend on the fifth and last day of the business week as KSE-100 index soared by 869 points to 77,077 points.
A day earlier, the KSE-100 index closed at 76,208. The development comes on the heels of presentation of budget by the federal and Punjab governments.
Meanwhile, the US dollar gained 9 paisa in the interbank trade to 278.70 against rupee.
FEDERAL BUDGET
Finance Minister Muhammad Aurangzeb on Wednesday presented the federal budget for fiscal year 2024-25 with the total outlay of Rs18,877 billion.
The total outlay of the budget stands at Rs18,877 billion with Rs9,775 billion have been reserved for the interest payments.
The budget is considered to be crafted in line with the IMF's requirements to secure another bailout package, this time “larger and longer”.
PUNJAB BUDGET
Punjab Finance Minister Mujtaba Shujaur Rehman on Thursday presented Rs5,446 billion budget for 2024-25 in the Punjab Assembly amid ruckus by the opposition.
The government claims it is a tax-free and pro-people budget, though the opposition is crying foul for being totally ignored.
