Islamabad: The KSE-100 index climbed 75 points on Tuesday, closing at 147,005 with a trading volume of 689 million shares, even as concerns mount over substantial losses in state-owned enterprises and overlapping tax jurisdictions. Pakistani exporters anticipate a significant advantage in the US market, offering a potential boost to the national economy.

The State Bank of Pakistan (SBP) has rescinded its lien policy on delayed export proceeds and waived penalties for rice exporters, while the Ministry of Planning, Development and Special Initiatives has approved a Rs141 billion Public Sector Development Programme (PSDP) for the first quarter. This comes as the SBP governor faces pressure from the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) criticizing the current tariff policies.

YOUW, PGLC, and NATF led the market's upward movement, while UNITY, BNWM, and MARI experienced the largest declines. Trading focused primarily on the banking, food, and textile spinning sectors. Passenger car sales saw a 22% year-on-year increase in July but experienced a substantial 60% drop compared to June's figures.

The Pakistani government expressed apprehension regarding over Rs6 trillion in losses incurred by state-owned companies. The Federal Board of Revenue (FBR) plans to take action against "uncooperative" sales taxpayers amidst complaints about rising costs due to overlapping tax jurisdictions. Discussions are ongoing regarding tariff reductions, with a list of exchanged commodities under consideration. Meanwhile, the cultivated area for rice is projected to reach 70,000 acres. Cotton yarn exports reached $203 million.