TOBA TEK SINGH: Faisalabad Chamber of Commerce and Industry`s Senior Vice President Qaisar Shams Gucha says the bullish trend in the stock exchange is indicative of the much needed economic stability that would convince foreign investors to benefit from the industrial and business activities in Pakistan in the near future.

In a statement on Saturday, he said the PSX had set new records within this month and this process was continuously going on. He appreciated the economic strategyof the present government, paying tribute to the vision of Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb.

He said the increase in exports had also provided a solid ground to further trim the policy rate, which would help industrialists to get the latest machinery and technology, particularly for the import substitution industry. He hoped that the situation would also play a key role in improving the quality of exportable surplus and bringing down the import bill.

Mr Gucha said that economists were expecting that the stock exchange would cross the limit of100,000 points by June 2025 but the recent improvements showed that this target could be achieved during the current year. He said economic indicators would further gain strength and GDP growth would also be more than the projected targets.

Meanwhile, Indian preacher Dr Zakir Naik urged the business community to make efforts to promote and project Islam in its true spirit.

Talking to a delegation of the FCCI at Faisalabad, he termed his stay in Pakistan memorable, adding that it had encouraged him to further expand his efforts to dispel apprehensions against Islam.