Karachi: The KSE-100 Index witnessed a significant boost, gaining 2,654 points to reach a closing value of 185,062, with a trading volume of 1.301 billion shares. The market's top performers included Attock Refinery Limited (ATRL), MCB Bank, and Airlink Communications, while Pakistan State Oil (PSEL), Shell Pakistan (SSOM), and Mehran Sugar Mills (MEHT) saw declines. Most trading activity was concentrated in the technology, banking, and power sectors.

In related economic developments, Pakistan's Finance Minister suggested that the country might not require further assistance from the International Monetary Fund (IMF) in six months due to an increase in defense orders. However, the government is also considering requesting a higher fiscal deficit from the IMF to encourage growth.

In other governmental news, the Prime Minister has called for the acceleration of privatization reforms, with initial steps focusing on the Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO). Additionally, the Securities and Exchange Commission of Pakistan (SECP) has registered 21,668 companies in the first half of the year, reflecting a growing business environment.

Meanwhile, the government is contemplating an increase in the fuel levy to support the gas sector, as oil prices fell following reports of Venezuela planning to send oil to the United States. The construction of a container vessel for the Pakistan National Shipping Corporation has commenced, marking progress in national shipping capabilities.

In agriculture, cotton arrival figures indicate stability, suggesting a gradual recovery in the 2025 season. Provinces are set to procure wheat from the private sector, potentially impacting local market dynamics.

These developments come amid broader economic discussions, including a possible delay in the National Finance Commission (NFC) meeting and a high-level Senate delegation's planned visit to the United States on the 20th of this month.