PM Sharif Lauds Stock Market Surge, Affirms Commitment to Cultural Institutions

Prime Minister Shehbaz Sharif on Tuesday hailed the unprecedented rally in the nation’s primary stock index, attributing the achievement to governmental strategies and heightened investor optimism.

The KSE-100 Index exceeded 127,000 points for the first time ever on the initial day of the new fiscal year, representing a considerable upswing for the country’s financial sector.

“The new fiscal year has commenced on a positive note, marked by a noteworthy advancement in the economic sphere,” Sharif stated. He characterized the surge as indicative of improved investor and business community sentiment.

Sharif noted that the performance demonstrated trust in the government’s financial measures, which he said had steadily bolstered the economy in the preceding year. He also commended the administration’s economic team and reiterated his government’s dedication to fostering a more favorable investment environment.

“This fiscal year will stand as a key milestone in our endeavor to reinforce the economy,” he commented.

In a separate discussion, Sharif dismissed rumors regarding the potential shutdown or consolidation of national bodies focused on science, literature, and culture, emphasizing the government’s continued support for these entities.

“The government is not entertaining any proposals to close or amalgamate institutions of scientific, literary, historical, and cultural significance,” Sharif clarified during a meeting with Senator Irfan Siddiqui of the Pakistan Muslim League-Nawaz (PML-N), according to details released by the Prime Minister’s Office.

He emphasized that such institutions are crucial to the nation’s intellectual and cultural heritage, promising governmental efforts to ensure they become “strong, effective, and efficient.” Siddiqui had earlier communicated concerns from writers, academics, and artists regarding potential cutbacks. In response, Sharif announced the formation of a committee tasked with enhancing the administration of these institutions, adapting them to meet current demands.

“Societies that overlook science, literature, and the arts risk succumbing to formulaic thinking and losing their capacity for empathy,” Sharif observed.