Islamabad: In 2023, the concerted efforts of the caretaker government and military leadership have set the country on the path of economic progress. Along with a decrease in the value of the dollar, petroleum products have also become more affordable.
According to details, in the first half of 2023, Pakistan seemed to be moving towards economic default, however, after the first half positive economic indicators emerged due to the positive steps taken by the federal government and military leadership.
With the approval of a $7 billion loan from the International Monetary Fund (IMF), financial assistance has been provided. On the last day of the year, the Pakistan Stock Exchange traded at a level of 62,512 points. On December 10th of the ongoing year, the KSE-100 Index reached a historic high of 66,000 points for the first time in history.Â
The Pakistan Stock Exchange (PSX) then witnessed a significant decline because of profit-taking but on the first day of the year 2024, PSX witnessed a robust surge in the benchmark KSE-100 Index once again by 3.24%, with the addition of 2,024.17 points crossing the 64,000 milestone.
During this period, the dollar fell to less than Rs. 307.10 and concluded the year at Rs. 281 in the interbank market and Rs. 283 in the open market. Over the span of three months, the prices of petroleum products decreased to as low as Rs. 64 per liter.
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