Author name: Press Release

Gold prices in Pakistan recorded a sharp jump on Friday, continuing the strong upward trend driven by a weaker US dollar and bullish momentum in the international market. The local bullion market experienced notable gains across all major categories of gold and silver, reflecting global market strength. 24K Gold Jumps Rs10,700, All-Time High: According to the latest data released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of 24-karat gold rose by Rs10,700, pushing the per-tola rate to Rs454,262. Gold prices also increased on a 10-gram basis:: • 24K Gold (10 grams): Rs389,456 (up Rs9,174)• 22K Gold (10 grams): Rs357,014 This steady rise brings gold to one of its highest levels in Pakistan’s history, tightening investor interest and raising concerns for consumers ahead of the year-end wedding season. Silver Prices Also Rise : Silver followed in gold’s footsteps, witnessing a significant price jump in the domestic market.• 24K Silver (per tola): Rs6,684 – up Rs232• 24K Silver (10 grams): Rs5,730 – up Rs199 Silver’s upward momentum continues to attract small-scale investors who see it as a more affordable alternative to gold. Day-on-Day (DoD) & Monthly Performance: A quick look at the performance table shows just how much gold has appreciated during the year: Gold & Silver Price Summary (Pakistan Market)Date: 12 December 2025GOLD (24K per tola)• Today (Dec 12): Rs 454,262• Yesterday (Dec 11): Rs 443,562• Day Change: +Rs 10,700• 1 Month Change: +Rs 11,200• FYTD: +Rs 104,062• CYTD: +Rs 181,662 SILVER (per tola)• Today (Dec 12): Rs 6,684• Yesterday (Dec 11):: Rs 6,452• Day Change: +Rs 232• 1 Month Change: +Rs 1,022• FYTD: +Rs 2,902• CYTD: +Rs 3,334 The numbers make it clear: gold is one of the strongest-performing assets of the year, offering massive returns to investors who entered early. Global Market Update: In the international market, spot gold traded close to $4,329 per ounce, gaining nearly $53.4 (+1.25%) from the previous session. The rally was supported by: • A weaker US dollar• Safe-haven demand amid financial uncertainty• Increased speculative buying as markets expect a shift in US monetary policy This global push is directly fueling the domestic surge in Pakistan’s bullion market. Bottom Line: Gold Near Record Territory as Investors Shift Toward Safe Havens With both global and domestic markets posting strong gains, gold continues to establish itself as a top-performing safe-haven asset. As uncertainty persists across global markets and currencies fluctuate, investors in Pakistan are steadily increasing their exposure to bullion. Meanwhile, silver’s consistent climb also signals renewed confidence among retail investors. If current trends continue, Pakistan may witness another record high in gold prices before the end of the year.

ISLAMABAD – In a nation grappling with chronic economic woes, remittances from overseas Pakistanis have long been hailed as a vital lifeline, injecting $38 billion annually – equivalent to 10% of GDP – into the economy. Yet, a provocative new analysis by economist Atif Mian questions this narrative, arguing that these funds, born from the grueling sacrifices of 10 million expatriates toiling in low-wage jobs abroad, are ensnaring Pakistan in a “macroeconomic trap” rather than propelling it forward.Mian’s essay, published on his Substack, paints a stark picture of remittances as a double-edged sword. On one hand, they represent “free foreign exchange” from migrants enduring cramped living conditions in Gulf states and beyond, far exceeding the norm for countries at Pakistan’s income level – twice the expected ratio, as shown in comparative economic charts. Families back home rely on these transfers for survival, boosting immediate consumption and stabilizing household finances amid inflation and unemployment.However, the influx appreciates the rupee, triggering a classic “Dutch disease” effect: exports in tradable sectors like textiles and agriculture suffer as the currency becomes overvalued, making Pakistani goods uncompetitive globally. Investment-to-GDP ratios languish at historic lows, while consumption soars, perpetuating a cycle of stagnation. “If remittances are not managed properly, they can become a restraint on growth,” Mian warns, highlighting how this dynamic sustains elite rent-seeking in non-tradable industries like real estate, where politically connected tycoons convert windfalls into foreign assets.The irony is bitter: the sweat of poor laborers abroad inadvertently bolsters the purchasing power of the privileged at home. Pakistan’s export slump and prolonged currency overvaluation underscore the malaise, with bad policy – not migrant toil – as the culprit.Mian offers a roadmap out: The State Bank should aggressively build reserves during inflow spikes to curb overheating. A targeted foreign direct investment (FDI) strategy could channel funds into high-tech, export-oriented greenfield projects, mandating local partnerships for technology spillovers. Discourage speculative portfolio inflows and real estate bubbles to prioritize productivity.“Remittances don’t have to be a drag on growth. With the right macro policy, they can become a catalyst for financial stability, investment, and long-run development,” Mian concludes. As Pakistan eyes IMF talks and fiscal reforms, this critique arrives at a pivotal moment. Will policymakers heed the call, transforming expatriate resilience into national renewal, or let the trap tighten?

In a strong show of confidence from Pakistan’s capital market, Pak-Qatar Family Takaful Limited (PQFTL) made an impressive debut with its Initial Public Offering (IPO) being oversubscribed on the very first day of book building. The overwhelming investor interest underscores the company’s solid fundamentals and its position as a market leader in the fast-growing takaful industry. A Powerful Market Response on Day One: According to Shahid Ali Habib, CEO of Arif Habib Limited, a substantial volume of funds has already been deposited during the book-building process. He shared on his X (formerly Twitter) account that many more investors are expected to place their final bids on the last day of the offer a sign that sentiment around the IPO remains highly positive. The IPO consists of 50 million shares, representing 21.67% of post-IPO paid-up capital, with a floor price of Rs14 per share. Using the Dutch auction method, PQFTL will allocate 75% of shares to successful bidders while 25% is reserved for retail investors. A Market Leader With a Strong Track Record: Founded in 2006, Pak-Qatar Family Takaful is Pakistan’s first and largest dedicated Family Takaful operator. Today, it dominates the sector with: • 44% share of the overall family takaful market• Over 90% share of the dedicated takaful segment Such commanding strength doesn’t happen overnight. PQFTL has built its reputation by delivering consistent growth in net income and profit-after-tax (PAT). Its single-contribution products have played a vital role in accelerating asset accumulation while maintaining low acquisition costs of just 5% in FY24, a notable advantage in a competitive industry. A Forward-Looking Company With Long-Term Vision: The company’s ambition for innovation and diversification became clearer in 2022, when it became Pakistan’s first takaful operator to receive a Voluntary Pension Scheme (VPS) license. This strategic move positions PQFTL to capture long-term retirement savings, giving it a sustainable growth path for the coming decades. What the Oversubscription Really Means: The immediate oversubscription of PQFTL’s IPO indicates three important trends in Pakistan’s financial markets: For investors, PQFTL represents a rare opportunity to invest in a high-growth segment of Pakistan’s financial industry, one that continues to expand even during economic volatility. Pak-Qatar Family Takaful’s IPO success story is more than a market event, it’s a reflection of how Islamic finance, digital distribution, and long-term savings products are reshaping Pakistan’s financial landscape. As bids continue flowing in, all eyes are on the final book-building results, which are expected to set new benchmarks for future Shariah-compliant IPOs.

In a significant move that could reshape regional trade dynamics, Pakistan has officially offered Turkmenistan access to its deep-sea ports in Karachi and Gwadar. The development came during Prime Minister Shehbaz Sharif’s two-day visit to Ashgabat, where he met Turkmen President Serdar Berdimuhamedov on the sidelines of an international forum. The proposal marks a strategic shift toward closer regional integration, opening new land and sea routes that could transform Pakistan into a major commercial gateway for Central Asia. A New Trade Corridor for Central Asia: Turkmenistan, a landlocked nation heavily dependent on overland routes, has long sought diversified access to global markets. Pakistan’s offer aims to create: • New alternative trade corridors• Reliable access to South Asia, the Middle East, and the wider global market• Expanded land-and-sea connectivity that benefits both countries According to official statements, the ports of Karachi and Gwadar are well positioned to support Turkmenistan’s growing trade ambitions, particularly as Central Asian nations look to reduce their logistical dependence on traditional routes. Strategic Diplomacy in Ashgabat: Prime Minister Shehbaz Sharif and President Berdimuhamedov met during international celebrations marking 30 years of Turkmenistan’s permanent neutrality, a globally recognized UN designation. During the meeting, the Pakistani premier highlighted how both ports especially Gwadar, located near vital shipping lanes can serve as high-value gateways for Central Asian exports and imports. Sharif also expressed gratitude to the Turkmen government for assisting in the evacuation of Pakistani citizens from Iran earlier this year during heightened tensions between Iran and Israel. High-Level Delegation from Pakistan: The Pakistani delegation included:• Ishaq Dar – Deputy Prime Minister• Awais Leghari – Federal Minister for Energy• Atta Tarar – Federal Minister for Information Their presence signals Pakistan’s intention to expand cooperation in energy, logistics, and trade infrastructure, even though no formal agreements or investment figures were announced during this round of talks. Energy Cooperation: A Long-Term Opportunity: Turkmenistan is one of the world’s major natural gas exporters, while Pakistan continues to face unresolved energy challenges. Both nations have previously explored major energy projects such as the TAPI gas pipeline, which is proposed to run through Afghanistan. While progress has been slow, renewed diplomatic engagement may help revive long-term energy cooperation discussions. Invitations for High-Level Visits in 2026: Prime Minister Shehbaz Sharif extended formal invitations to:• President Serdar Berdimuhamedov, and• Former President Gurbanguly Berdimuhamedov, now recognized as the National Leader of the Turkmen People for official state visits to Pakistan in 2026. These visits could push forward economic agreements, investment frameworks, and energy partnerships. Participation in Global Peace Forum: Shehbaz Sharif is also attending the International Forum on Peace and Trust, organized to mark the UN’s declaration of 2025 as the International Year of Peace and Trust. The forum reflects Turkmenistan’s long-standing diplomatic identity centered around neutrality and peaceful cooperation. Why This Matters for Regional Business & Investment: Pakistan’s offer has the potential to:• Position Karachi and Gwadar as regional trade hubs• Strengthen economic ties between South Asia and Central Asia• Enhance Pakistan’s relevance in global supply chains• Open doors to future energy, logistics, and infrastructure investments If fully realized, the collaboration could reshape commercial flows across the region, making Pakistan a central player in Central Asian trade connectivity.