Karachi: The KSE-100 index saw a robust performance yesterday, climbing 843 points to close at 114,880, with a total of 631 million shares being traded. Notable price increases were observed in EFUG, POML, and SNGP, while PIBTL, CNERGY, and AGP experienced declines. Trading activity was primarily focused in the Oil Marketing Companies (OMCs), Refinery, and Technology sectors.

According to a statement by Taurus Securities Limited, the market movement comes amid a backdrop of significant economic developments in the country. Among these, industry leaders are advocating for a substantial reduction in interest rates, while the World Bank's Vice President projected that Pakistan's economy could reach the $1 trillion mark by 2035.

Other notable economic updates include the Oil and Gas Regulatory Authority's (OGRA) notification of a gas price hike for captive gas plants, while maintaining rates for other consumers. Additionally, the Prime Minister has directed the Power Division to reduce power tariffs by Rs7 per unit, and bank credit to the private sector has surged significantly.

In international economic relations, Finance Minister Ishaq Dar is reviewing plans to strengthen trade and economic ties with Turkey. Meanwhile, Beijing AI Force Tech has announced plans to invest in e-agriculture and electronic solid waste management (e-SWM) in Pakistan.

Domestically, the weekly Sensitive Price Indicator (SPI) inflation has decreased by 0.77%, and the commerce minister has been given the authority to approve one-time trade exemptions. Despite these positive developments, the government has breached the IMF's funding limit by providing excessive funding for parliamentary schemes, raising concerns among economic observers.