The KSE-100 index saw a slight dip today, shedding 42 points to settle at 114,356, as trading volume reached 324 million shares.

JDWS, ENGROH, and SRVI led the market in terms of price gains, while TGL, FCCL, and GHGL experienced notable declines. Market activity was predominantly observed in the cement, banking, and Oil Marketing Companies (OMC) sectors.

The State Bank of Pakistan maintained its policy rate at 12 yesterday, reinforcing stability amid fluctuating economic signals. Meanwhile, a potential reduction in petrol prices by Rs15 per litre is on the horizon, promising relief for consumers.

In a positive economic development, remittances from July to February soared by 32.5 year-on-year, reaching 24 billion. The government informed the International Monetary Fund (IMF) of plans to privatize Pakistan International Airlines (PIA) by July, as discussions on agricultural income tax continue.

The rupee’s depreciation persisted, with the currency breaking past the 280 per dollar mark. Meanwhile, the State Bank of Pakistan successfully met the IMF’s Net International Reserves (NIR) target for December.

Prime Minister Shehbaz Sharif emphasized enhancing outreach for the Rs20 billion Ramazan package to support citizens during the holy month. The government also faces Rs161 billion in receivables against the Central Power Purchasing Agency-Guaranteed (CPPA-G).

In a bid to stabilize market prices, the government plans to import raw sugar. Meanwhile, Sazgar Engineering reported robust sales, with over 3,500 units sold in February.