The Pakistan Stock Exchange (PSX) has once again become the best stock market in Asia which is also doing considerably great work globally.
On Tuesday, Marketcurrentswealthnet.com, a New York-based global research firm reported,
Pakistan’s stock market (has become) the best performer in Asia as well as the fourth best-performing stock market in the world. PSX benchmark KSE-100 index has given a return on investment of 38.5% in dollar terms as foreign capital. The foreign capital been flowing into the market after the yield on the nation’s bond fell below double digits.
Further, the research firm also lauds the efforts and steps taken by the government to prevent the COVID-19 pandemic. Also, the firm explained the global market scenario after the novel coronavirus pandemic.
Earlier last week, the PSX on its official Twitter reported.
With the pandemic dwindling down and the reopening of business hubs across Pakistan, the PSX has defied odds and come out stronger. The stock exchange is Asia’s best performing market, up by 30% since March 2020.
Views of Economists on PSX:
Karachi based economist, Muhammad Sohail also approves this report by lauding the government policies. Moreover, he termed this as a good signal for the country’s economic future.
He said an “unexpected” victory in the battle against the COVID-19 pandemic, followed by a government economic stimulus package and the low base effects of the previous two years were the main reasons behind the success.
At a time when most of the world is still grappling with COVID-19 and its effects on economy, normalcy has almost returned to Pakistan. This is further by an economic stimulus package, mainly for the industrial and construction sectors,” he added
PSX CEO & MD Farrukh H Khan commented on this development,
Pakistan has coped better with Covid-19 … (its) the economy is rebounding much more strongly than other countries.
PSX MD further said,
The government enabled the nation to meet day-to-day needs by disbursing cash to daily-wage earners and the needy under the Ehsaas programme and through the implementation of a smart lockdown strategy.