PM Shehbaz Sharif’s Karachi Visit Boosting Business Confidence and Political Alliances
The suggestion was extended during the business community’s meeting with PM Shehbaz Sharif, who is on a day-long visit to Karachi. The visit is Shehbaz’s first to Karachi since assuming the prime minister’s office in early March. During the meeting, prominent businessman Arif Habib credited the prime minister for restoring investors’ confidence in stabilization measures as Pakistan Stock Exchange (PSX) surged past the 72,000 points mark.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index shot up to 72,335.89 points — 976.49 points or 1.37% higher than the previous close of 71,359.41 points. However, the benchmark index closed at 72,051.89 after gaining 692.49 points or 0.97%. Meanwhile, Arif Habib noted that PM Shehbaz Sharif has already formed alliances with the Pakistan People’s Party (PPP) and other political groups.
He suggested the prime minister extend a hand of friendship two more times – one with neighboring countries, including India, and the second with PTI founder Imran Khan. Arif Habib extended this proposal to PM Shehbaz Sharif, emphasizing the need for political unity to address Pakistan’s economic challenges.
Speaking on the occasion, PM Shehbaz Sharif said that he doesn’t want to take credit for the ‘positive things’ happening in the country. “I believe we should take advantage of the opportunities we are getting”, he said, adding that the country’s priority should be exports and growth. PM Shehbaz vowed that the ongoing privatization process would be ‘extremely transparent’. He also invited foreign companies to participate in the privatization process.
“The government’s role is to provide policy support, not to run industries’, he said, adding that it was time to move away from a ‘rent-seeking mindset’ and focus on hard work. Earlier in the day, the prime minister visited Mazar-i-Quaid, where he laid a floral wreath and offered fateha (prayer).
