Islamabad: The KSE-100 index experienced a significant boost yesterday, climbing 390 points to reach 157,945 with a trading volume of 1,519 million shares. BWCL, HGFA, and KEL led the market's upward trajectory, while PTC, INIL, and TRG registered the largest declines. Trading activity primarily focused on the power, technology, and property sectors. Simultaneously, Pakistan is poised to finalize a substantial Rs1.275 trillion agreement with 18 banks to address the nation’s persistent circular debt issue.

The government's move to tackle the circular debt comes as the country grapples with the economic fallout from devastating floods impacting agriculture, industry, and the national budget. Punjab has announced a flood relief initiative, although a specific implementation schedule remains undisclosed. Meanwhile, the Economic Coordination Committee (ECC) has authorized revised financing for the Reko Diq project, sparking renewed international investment interest, notably from Japan.

A new World Bank study reveals a concerning increase in Pakistan's poverty levels and advocates for reforms prioritizing the welfare of its citizens. The government plans to appeal to the International Monetary Fund (IMF) to reinstate the minimum support price (MSP) system for wheat. In other economic developments, Pakistan has acquired approximately 180,000 tonnes of soybeans this month, likely sourced from the United States. The future of the CAREC Tranche-3 project remains uncertain.

Saudi Arabia has reaffirmed its interest in Pakistan's oil and mining sectors. To stimulate cement and clinker exports, the government is exploring an expansion of Port Qasim. Finally, the Sui Northern Gas Pipelines Limited (SNGPL) has postponed the allocation of third-party pipeline capacity.