Stocks rallied at the Pakistan Stock Exchange’s benchmark index on Monday as the KSE-100 index gained over 900 points in the intraday update.

According to the PSX website, the KSE-100 index gained 938 points to reach 116,210.41 levels at 1:08pm.

The development comes after a series of economic developments in the country. Last week, Finance Minister Muhammad Aurangzeb told international media that the country was set to issue panda bonds, this year to bolster finances.

Panda bonds are a form of debt security that foreign entities issue in the Chinese capital markets and are denominated in the Chinese yuan.

The government “aims to raise between $200 million and $250 million from Chinese investors” in the coming six to nine months, Aurangzeb told Bloomberg TV on the sidelines of the Asian Financial Forum in Hong Kong.

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Moreover, the government has planned to amend tax laws to tighten noose on non-filers.

National Assembly Standing Committee on Finance would take up money bill, “Tax Laws (Amendment) Bill, 2024,” on Tuesday (tomorrow) and government will soon prohibit non-filers from purchasing, booking, registration of vehicles over 800cc, acquiring property beyond a specified limit, and making stock purchases beyond a certain threshold, Business Recorder reported.