Karachi: The KSE-100 Index experienced a significant uptick, closing up 559 points at 145,647, with 711 million shares traded. The day's top performers in terms of price change were UNITY, BNWM, and AGL, while GADT, NESTLE, and FHAM saw the most decline. Trading activity was predominantly concentrated in the banking, food, and technology sectors.

In other economic news, the government has ruled out a military operation in Khyber Pakhtunkhwa, while a trade agreement with the United States is in the works. Additionally, Islamabad will host a strategic dialogue between Pakistan and China on the 20th and 21st of this month.

The country's foreign exchange reserves fell by $111 million over the past week. Meanwhile, the World Bank is expected to approve $600 million for a public resources program. In a move to streamline state operations, 24 state-owned enterprises are set to be privatized in three phases, according to a government minister.

In legislative developments, the National Assembly passed the 'Pakistan Land Port Authority Bill 2025'. Furthermore, Nepra has approved a Re0.78/kWh negative adjustment for June's Fuel Cost Adjustment.

The Executive Committee of the National Economic Council (ECNEC) has approved Rs1.5 trillion for 27 projects. The government is also considering serious reforms to its industrial policy, as highlighted by the Special Assistant to the Prime Minister.

Business leaders have urged the government to take advantage of US tariffs, while the IT and IT-enabled services sector is set to face a 4 percent withholding tax. The Federal Board of Revenue (FBR) has aligned banking income with taxable income for better fiscal management.

Efforts for the early disposal of government debt securities are underway. Overseas Pakistanis remain eligible to import vehicles under the gift scheme, and Pakistan Refinery is reportedly set to purchase its first shipment of Nigerian Bonny Light oil from Vitol, according to sources.