Stocks smashed through the 150,000 barrier on Tuesday as upbeat forecasts and energy reforms lifted sentiment.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 150,323.38, gaining 2,126.96 points, or 1.44%, before retreating to a low of 148,293.94, reflecting a rise of 97.52 points, or 0.07%.
In a boost to sentiment, global credit rating agency Fitch projected Pakistan’s real GDP growth to reach 3.5% by 2027, up from 2.5% in 2024, citing improving fiscal performance, reforms, and ongoing recovery.
“Pakistan’s improved sovereign credit profile reinforces this view,” Fitch noted, referring to its upgrade of the country’s Long-Term Issuer Default Rating (IDR) to ‘B-’/Stable from ‘CCC+’ in April 2025.
The improvement followed Moody’s upgrade of Pakistan’s credit rating by one notch, from ‘Caa2’ to ‘Caa1’, with a ‘stable’ outlook.
Separately, the government’s Task Force on Power unveiled a plan to reduce the country’s mounting gas circular debt, which has risen to Rs2,600 billion.
The proposed five-year strategy includes three measures: imposing a Rs5 per litre petroleum levy expected to raise Rs500 billion; generating another Rs500 billion through dividends from state-owned oil and gas companies; and diverting two LNG cargoes per month from Qatar to international markets to earn Rs500 billion annually.
A senior Petroleum Division official said the plan would cut the gas circular debt by Rs1,500 billion, while the remaining Rs1,100 billion — largely comprising surcharges and interest — is expected to be resolved through waivers.
On Monday, the PSX benchmark KSE-100 Index settled at 148,196.42 points, up 1,704.79 points, or 1.16%, from the previous close of 146,491.63. During the session, it reached a high of 148,395.71, up 1,904.08 points, or 1.3%, and a low of 146,403.64, down 87.99 points, or 0.06%.
