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PREDA Hosts Landmark Inaugural PREDAXIS Conference to Advance Pakistan's PR, Digital, Event Management and Activations Industries
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PREDA Hosts Landmark Inaugural PREDAXIS Conference to Advance Pakistan’s PR, Digital, Event Management and Activations Industries

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PREDA Launches PREDAXIS Conference Pakistan Public Relations, Event Management, Digital and Activations Association (PREDA) successfully hosted its inaugural PREDAXIS: Minus the Gatekeep conference in Karachi on August 7, 2026. Held at the Mövenpick Hotel Karachi, the event brought together leading business executives, marketers, agency professionals, digital specialists, event managers, creators, academics and media practitioners to discuss the future of Pakistan’s public relations, digital, event management and activations industries. The conference focused on open dialogue, knowledge-sharing and stronger collaboration across sectors, while examining how artificial intelligence, the creator economy and changing consumer behaviour are reshaping communications and business. Sharmeen Obaid-Chinoy Opens Landmark Industry Conference The conference opened with a keynote address by Academy Award-winning filmmaker Sharmeen Obaid-Chinoy, who spoke about connection, influence and purpose-driven collaboration based on trust. Her address highlighted the importance of individuals challenging established ideas and imagining alternative possibilities, while emphasizing the role of ordinary people in shaping social and cultural change. PREDA’s executive committee, comprising Selina Rashid, Frieha Altaf, Shanaz Ramzi, Fareshteh Aslam, Sarfraz Niazi and Hasan Rizvi, said PREDAXIS was created to bring together the industries influencing culture, commerce, public trust and communications. The association said the conference represented the beginning of a broader effort to strengthen professional standards, collaboration and innovation across Pakistan’s communications ecosystem. AI and Creativity Take Center Stage The afternoon keynote was delivered by Imtisal Abbasi, Managing Partner at IAL Saatchi & Saatchi, who discussed the changing role of leadership and creativity in the communications industry. He highlighted three key ideas surrounding the impact of technology and artificial intelligence: The observations reflected a central theme of the conference: while AI is transforming how businesses create, communicate and operate, human judgment and the ability to distinguish meaningful ideas from automated output will become increasingly important. Seven Panels Explore the Future of Communications Delegates participated in seven panel discussions covering major developments affecting Pakistan’s communications and marketing industries. The sessions included: The discussions examined agency-client relationships, artificial intelligence, reputation management, influencer marketing, immersive experiences, human-centred leadership and cross-industry collaboration. Agency-Client Trust Emerges as a Major Issue During The Agency Client Nexus, speakers discussed the need for stronger relationships between brands and agencies based on trust, transparency and shared business objectives. Aly Mutsansir, Brand Consultant and Trainer at AlyM Brand Consulting, highlighted the importance of developing more effective partnerships while addressing challenges faced by agencies. Frieha Altaf, CEO of Catwalk, pointed to difficulties agencies can encounter during pitch processes, including changing briefs and concerns about ideas being replicated after presentations. Sarah Sadiq, Director Marketing at FrieslandCampina, stressed that trust throughout the communications ecosystem needs to be built through greater transparency. AI Reshapes Reputation and Influence The Reputation Economy panel explored how artificial intelligence is changing visibility, credibility and stakeholder trust. Hasan Rizvi, CEO of BBPR, raised questions about how reputation should be evaluated in an increasingly AI-driven environment. Fareshteh Aslam, CEO of Talking Point, emphasized the importance of incorporating individual values into the way AI tools are used. The discussion reflected the growing challenge for brands and organizations: as AI-generated content becomes easier to produce, credibility, authenticity and trust could become increasingly valuable. Creator Economy Gains Industry Attention The Influencers, Creators & The New Attention Economy session examined the changing relationship between brands, creators and audiences. Panelists discussed how authentic storytelling and changing audience behaviour are influencing creator-brand partnerships. Rizwan Ahmed, Founder and Chief Storyteller at Viral Edge, also called for greater government recognition and transparency for Pakistan’s expanding creator economy. The discussion highlighted the growing commercial importance of digital creators and the need for stronger structures around an industry that continues to evolve rapidly. Events Industry Moves Toward Experience Economy The Events: The Experience Economy panel focused on the growing importance of immersive experiences in creating audience engagement and stronger brand connections. Participants also discussed the increasing role of AI in event planning and creative development. Amina Rashid Khan, Partner at RAKA Events, noted that AI can help generate new ideas aimed at keeping audiences engaged. The discussion demonstrated how event management is moving beyond conventional gatherings toward experience-driven strategies that combine technology, creativity and audience participation. Human Skills Remain Critical in the AI Era The Business of Being Human panel focused on empathy, authenticity and human-centred leadership at a time when technology is rapidly transforming professional environments. Selina Rashid, CEO of Lotus PR & The Lotus Advisory, moderated the discussion and highlighted the continuing importance of human qualities in PR, digital communications, event planning and leadership. Qamar Abbas, Executive Director of the Pakistan Advertisers Society, emphasized that human emotions remain a major source of strength that technology cannot replicate. The panel also considered the risk that increasing automation could weaken human interaction if organizations fail to maintain empathy and authentic engagement. Pitching Requires Stronger Understanding Between Brands and Agencies The Pitch Room session examined the changing expectations surrounding agency pitches. Saira Awan, President of the TCS Group of Companies, stressed that agencies need to understand their clients’ broader business priorities rather than viewing a pitch in isolation. Madiha Saeed, GM Foods Pakistan & Bangladesh at Unilever, emphasized the importance of a clear brief before the pitch process begins, while noting that effective briefs are often best communicated through direct interaction. Syed Usman Qaiser, CMO of J., highlighted that brands should view agencies as partners and remain mindful of the costs agencies incur while developing proposals. The discussion reinforced the need for clearer communication, shared accountability and stronger partnerships between clients and agencies. Pakistan’s Future Depends on Collaboration and Ecosystems Looking toward the future, speakers emphasized the importance of collaboration between businesses, startups, government institutions and other stakeholders. Dr. Adil Haider, Founder and CEO of Boston Health AI and Chief AI Officer at CIMED, argued that competition could increasingly shift from individual companies toward entire ecosystems. He also warned that the rapid expansion of AI could lead to significant job displacement. Jehan Ara, Founder and CEO of Katalyst Labs, highlighted funding and international expansion challenges facing Pakistani startups. She also stressed the quality

FBR Imposes Rs5 Per Unit Sales Tax on 31 Steel Manufacturers
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FBR Imposes Rs5 Per Unit Sales Tax on 31 Steel Manufacturers

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New Tax Mechanism Targets Steel Industry The Federal Board of Revenue (FBR) has introduced a new taxation mechanism under which 31 iron and steel manufacturers will be subject to an Rs5 per unit sales tax on electricity consumption. The decision was announced through Sales Tax General Order (STGO) No. 16 of 2026, issued on August 6, and will take effect retrospectively from July 1, 2026. Under the revised framework, the tax will be collected directly through electricity bills issued by distribution companies (DISCOs). The move is intended to improve transparency, strengthen tax compliance and simplify tax collection within the steel industry. According to the FBR, the manufacturers included in the list comprise steel melters, re-rolling units and composite manufacturing facilities that meet specific eligibility requirements established by the tax authority. Officials stated that the order replaces the earlier Sales Tax General Order No. 14 of 2026, which was issued on August 4. Criteria for Inclusion in the New Tax Regime The newly introduced Rs5 per unit sales tax applies to companies whose imported scrap purchases exceeded 70% of their total scrap consumption during the previous 12 months. The FBR explained that the assessment covered imports made under Harmonised System (HS) codes 7204.3000, 7204.4100, 7204.4990 and 7204.4940. The criteria also included direct purchases made through importers operating under the Export Facilitation Scheme (EFS). In addition, the tax authority stated that the affected companies must have integrated their operations with the FBR’s digital monitoring and reporting system. Officials said the framework had been developed under the provisions of SRO 1245(I)/2026 to improve documentation and ensure more effective tax administration. The FBR further noted that the list of companies may be amended in the future based on recommendations from the relevant Commissioner Inland Revenue (CIR). Major Steel Manufacturers Included in the List Several leading companies operating in Pakistan’s steel sector have been included in the notification. The affected manufacturers include: Other manufacturers named in the order include smaller steel processing, melting and re-rolling companies operating across different parts of the country. Tax Collection Through Electricity Bills Under the revised system, the Rs5 per unit sales tax will be incorporated into electricity bills issued to the listed manufacturers. Officials believe the mechanism will simplify tax collection while ensuring more accurate reporting of industrial production and energy consumption. The FBR stated that the new approach will enable authorities to monitor the relationship between electricity consumption and production output more effectively. Tax experts say the system could reduce opportunities for underreporting while increasing overall revenue collection from the steel sector. However, industry representatives are expected to assess the potential impact of the measure on production costs and profitability. Companies Can Seek Reconsideration The tax authority clarified that field offices will retain the authority to review the eligibility of manufacturers for inclusion in or removal from the notified list. Businesses facing difficulties because of the order have been advised to contact the relevant Commissioner Inland Revenue for assistance. The FBR has also indicated that further changes may be introduced as authorities continue to evaluate the performance of the new taxation framework. Industry observers believe the initiative reflects the government’s broader efforts to expand the tax base, increase documentation and strengthen revenue collection across key sectors of the economy. As the steel industry adjusts to the latest policy changes, manufacturers will closely monitor the implications of the new Rs5 per unit sales tax regime on their operations and future investment decisions.

Karachi to Computerise Traffic Signals and Install Digital Meters in Rickshaws
Pakistan

Karachi to Computerise Traffic Signals and Install Digital Meters in Rickshaws

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Karachi Traffic Signals Set for Major Digital Upgrade The Karachi administration has launched a major initiative to modernise the city’s transportation network by computerising Karachi traffic signals and introducing digital fare meters in rickshaws. The decision was taken during a meeting of the Regional Transport Authority (RTA) Board chaired by Commissioner Karachi Hassan Naqvi. The meeting reviewed several measures aimed at improving traffic management and providing better transport facilities for residents. Officials said work on computerising traffic signals has already begun at various locations across the city. The initiative is expected to improve traffic flow, reduce congestion and enhance road safety. The adoption of digital technology could also strengthen the monitoring and management of Karachi’s increasingly complex transportation network. Smart Traffic Management System to Be Introduced The computerisation of Karachi traffic signals is one of the key components of the administration’s latest transport strategy. Officials said the first phase would focus on upgrading five major traffic intersections across the city. Initial installation work is being carried out at traffic signals near PIDC, Sindh Club and Avari Towers, which are among Karachi’s busiest areas. Authorities expect the replacement of conventional traffic control systems with computerised technology to improve traffic management and reduce delays caused by heavy vehicle movement. The initiative comes as Karachi continues to experience growing traffic congestion due to rapid urban expansion, an increasing number of vehicles and inadequate transport infrastructure. Non-Functional Traffic Signals Restored During the RTA Board meeting, Commissioner Hassan Naqvi said authorities had also made progress in restoring faulty traffic signals across the city. According to the commissioner, 12 of the 16 non-operational traffic signals identified in Karachi have been repaired and brought back into service. Officials said the restoration work has already helped improve traffic movement at several important intersections. Maintaining traffic signals in proper working condition is essential for improving road safety, managing vehicle movement and reducing unnecessary congestion. Advanced traffic management systems could further enable authorities to monitor traffic conditions more efficiently and respond more quickly to changing road conditions. Digital Rickshaw Meters Approved The Regional Transport Authority Board has also approved the installation of digital meters in rickshaws operating across Karachi. The new meters are expected to improve transparency in fare collection and reduce disputes between passengers and rickshaw drivers over transportation charges. Digital fare meters could help establish standardised fares and provide commuters with greater certainty about the amount they are required to pay. The initiative is also expected to contribute to a more organised public transport system while giving authorities improved tools to monitor transport operations and enforce fare regulations. New Bus Routes Planned for Karachi Alongside the computerisation of Karachi traffic signals and introduction of digital rickshaw meters, authorities have announced plans to expand public transport services across the city. Commissioner Hassan Naqvi directed the Regional Transport Authority to develop new bus routes based on residents’ transportation needs and travel patterns. The proposed routes are intended to improve connectivity and reduce the difficulties faced by millions of daily commuters. Karachi, Pakistan’s largest city and a major financial and commercial centre, has long faced challenges involving traffic congestion, overcrowded roads and limited public transportation options. Improved traffic management combined with expanded public transport could therefore play an important role in making urban mobility more efficient. Digital Transport Reforms Could Improve Urban Mobility The latest measures indicate a growing shift toward technology-based transportation management in Karachi. Computerised traffic signals could help authorities manage intersections more efficiently, while digital rickshaw meters may provide greater transparency for passengers and transport operators. However, the long-term success of these initiatives will depend on proper implementation, regular maintenance and effective enforcement. If the new systems are consistently maintained and integrated with broader public transport reforms, they could help reduce congestion, improve commuter experiences and strengthen traffic management across Karachi.

Pakistan Mobile SIM Base Hits 210 Million as Ufone and Telenor Merger Set to Reshape Telecom Market
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Pakistan Mobile SIM Base Hits 210 Million as Ufone and Telenor Merger Set to Reshape Telecom Market

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Pakistan’s active mobile SIM base has reached 210 million, highlighting the enormous scale of the country’s telecom market even as operators continue to struggle with network reliability, restructuring pressures and slow adoption of newer technologies. The latest development came during a meeting of the Senate Standing Committee on Cabinet Secretariat, where the Pakistan Telecommunication Authority Chairman briefed lawmakers on telecom competition rules, Ufone’s operational problems and the proposed merger between Ufone and Telenor. The merger could become one of the most significant developments in Pakistan’s telecom industry in recent years, as it is expected to create a new telecom company and potentially alter the competitive balance among the country’s major mobile operators. Ufone and Telenor Merger Could Reshape Pakistan Telecom Market The PTA chairman confirmed that the planned Ufone and Telenor merger will result in the creation of a new telecom company. The development comes as Pakistan’s mobile market has expanded to an active SIM base of around 210 million. For consumers, however, the bigger question is whether consolidation will improve service quality or reduce competition. A merger of two major operators could create opportunities for greater investment in infrastructure, network expansion and spectrum utilization. It could also allow the combined company to reduce duplication and improve operational efficiency. But there is a significant concern that a smaller number of major operators could weaken competitive pressure in the market. If competition declines, consumers could ultimately face fewer choices, slower innovation or less pressure on companies to improve service quality. Regulators will therefore need to scrutinize the transaction carefully rather than treating consolidation simply as a corporate restructuring exercise. Ufone Network Outages Raise Questions About Service Quality The Senate committee also questioned the PTA chairman about recurring service disruptions on Ufone’s network. The PTA chief acknowledged operational challenges at Ufone and said the problems were expected to be resolved in the coming days. He also informed lawmakers that PTCL and Ufone are being separated as part of an ongoing restructuring process. The repeated network disruptions are particularly concerning given Ufone’s position in a market serving millions of customers. Pakistan’s telecom sector has made major progress in expanding connectivity, but network reliability remains a critical issue. Consumers increasingly depend on mobile networks not only for voice calls but also for banking, digital payments, online businesses, education, remote work and government services. This means that prolonged or repeated outages are no longer merely an inconvenience. They can directly affect economic activity. The regulator should therefore demand greater transparency from operators regarding major outages, including their causes, duration and corrective measures. Pakistan SIM Issuance Could Move Online Through Pak ID The PTA is also working with the National Database and Registration Authority to introduce SIM issuance through the Pak ID digital platform. If implemented successfully, the initiative could significantly change how consumers obtain mobile connections in Pakistan. Citizens would potentially be able to complete the SIM issuance process remotely instead of visiting customer service centers. This could reduce administrative costs, save consumer time and make telecom services more accessible. However, the digital process will need strong safeguards against identity theft, unauthorized SIM issuance and fraud. Convenience cannot come at the expense of security. eSIM Adoption Becomes Another Telecom Test Senator Saleem Mandviwalla also urged the authorities to accelerate eSIM adoption in Pakistan, pointing out that many international markets have already moved toward the technology. The criticism is relevant because eSIM technology can make it easier for consumers to switch networks, activate connections and use multiple mobile services without requiring a physical SIM card. Pakistan’s slow transition toward eSIMs reflects a broader challenge facing the telecom industry: infrastructure and technology adoption are progressing, but not always at the pace demanded by consumers and businesses. The combination of the Ufone and Telenor merger, Ufone’s network problems, digital SIM issuance and eSIM adoption suggests that Pakistan’s telecom sector is entering a major transition phase. The real test will not simply be whether companies merge or new digital services are launched. It will be whether these changes deliver faster networks, stronger competition, better consumer protection and more reliable services for Pakistan’s 210 million active SIM connections.

Pakistan, Belarus Seek Payment Mechanism to Expand Bilateral Trade
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Pakistan, Belarus Seek Payment Mechanism to Expand Bilateral Trade

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Pakistan, Belarus Seek Payment Mechanism to Expand Bilateral Trade Pakistan and Belarus have agreed to explore secure payment mechanisms, including local-currency settlements, to facilitate bilateral trade and strengthen economic cooperation between the two countries. The agreement was reached during a meeting between Federal Minister for Commerce Jam Kamal Khan and Belarusian Ambassador to Pakistan Andrei Metelitsa, as both sides reviewed measures to improve trade and investment ties. The two countries agreed that financial institutions and technical experts should continue consultations on mutually acceptable payment arrangements. The initiative is aimed at making cross-border transactions easier for businesses and allowing them to better utilise the existing trade potential. Jam Kamal highlighted opportunities for greater cooperation in agriculture, fertilisers, engineering goods, tractors, heavy machinery, energy products and food commodities. He also welcomed the revival of collaboration with Belarus in engineering and agricultural machinery. The meeting also reviewed labour cooperation. The Belarusian envoy said the number of Pakistani workers employed in Belarus had increased considerably, while demand for skilled workers remained strong. Both sides agreed to improve recruitment procedures, skills matching and institutional coordination to expand employment opportunities. The discussions also covered preparations for the upcoming Pakistan-Belarus Joint Ministerial Commission, which is expected to focus on resolving trade-related issues and identifying new areas of economic partnership.

Sapphire Fibres Enters FESCO Privatisation Race as Power Sector Deal Draws Corporate Interest
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Sapphire Fibres Enters FESCO Privatisation Race as Power Sector Deal Draws Corporate Interest

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Sapphire Fibres Limited has entered the race for the privatisation of Faisalabad Electric Supply Company, a development that could bring a major industrial player into one of Pakistan’s most closely watched power-sector transactions. The company, listed on the Pakistan Stock Exchange as PSX: SFL, has secured the Request for Statement of Qualification issued by the Privatisation Commission for the proposed divestment of FESCO. The development signals growing corporate interest in acquiring a stake in a major electricity distribution company at a time when Pakistan is under increasing pressure to improve the financial and operational performance of its power sector. Sapphire Fibres and FESCO Privatisation Move Sapphire Fibres Limited’s Board of Directors has approved the company’s participation in the FESCO privatisation process. However, the approval does not mean that Sapphire Fibres has secured the electricity distribution company. The company still needs to qualify under the Privatisation Commission’s pre-qualification process and obtain all necessary corporate and regulatory approvals before moving forward. Sapphire Fibres has also indicated that it may form a consortium after receiving the required approval. This could become an important factor in the transaction because acquiring and restructuring a large power distribution company requires substantial financial resources, technical expertise and long-term operational capacity. The company has further committed to informing the Pakistan Stock Exchange about material developments related to the transaction. Why FESCO Privatisation Matters to Pakistan’s Power Sector The proposed privatisation of FESCO is more than a corporate acquisition. It is part of a broader effort to reduce the government’s role in electricity distribution and improve the performance of distribution companies. FESCO operates across Faisalabad and surrounding areas, including major industrial and commercial zones. Its customer base and connection to one of Pakistan’s key industrial regions make the company strategically important. For potential investors, however, the attraction comes with serious challenges. Electricity distribution companies have historically faced issues involving transmission and distribution losses, electricity theft, inefficient billing, recoveries and regulatory constraints. This means the real value of FESCO cannot be judged simply by its customer base or existing financial position. Any successful buyer will have to determine whether operational reforms can generate sustainable returns. Sapphire Fibres FESCO Bid Faces Major Questions The entry of Sapphire Fibres raises an important question: can an industrial group bring the efficiency required to transform a large public-sector power distributor? The answer will depend heavily on the final privatisation structure. A private owner could potentially introduce stronger financial controls, improve collection systems, invest in technology and reduce operational inefficiencies. However, privatisation alone does not guarantee better service or lower electricity costs. The government and regulators will need to ensure that the transaction does not simply transfer a public-sector monopoly into private hands without adequate accountability. Consumers will ultimately judge the success of the FESCO privatisation through service reliability, billing accuracy, complaint resolution and electricity costs rather than through the size of the acquisition price. FESCO Privatisation Could Test Pakistan’s Reform Strategy The FESCO privatisation process could become a test case for Pakistan’s broader strategy of restructuring the power distribution sector. Sapphire Fibres’ decision to participate indicates that private-sector investors see potential in the opportunity. But investors will also scrutinize regulatory policies, tariff mechanisms, receivables, power-sector circular debt and the government’s ability to provide a predictable operating environment. The biggest risk is that expectations surrounding privatisation become larger than the reforms actually delivered. If FESCO is successfully transformed, the transaction could strengthen confidence in Pakistan’s privatisation programme and demonstrate that distribution companies can be operated more efficiently. If structural problems remain unresolved, however, private ownership may only shift responsibility without solving the underlying weaknesses. For now, Sapphire Fibres has only secured the opportunity to enter the qualification process. The more significant battle will come later, when potential investors assess FESCO’s financial condition, operational risks and future profitability. The next stages of the FESCO privatisation process will therefore be closely watched by investors, industrial groups and electricity consumers alike.

PSX KSE 100 Index Falls 347 Points as Profit Taking Hits Banks and Fertilizer Stocks
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PSX KSE 100 Index Falls 347 Points as Profit Taking Hits Banks and Fertilizer Stocks

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KSE 100 Index Faces Pressure From Heavyweight Stocks The PSX KSE 100 Index closed Friday’s trading session in the red as investors moved to lock in recent gains, putting heavyweight commercial banks, fertilizer companies and investment stocks under pressure. The benchmark lost 346.57 points, or 0.19 percent, to settle at 181,430.02, as cautious sentiment returned to the Pakistan Stock Exchange. The decline, however, was not broad enough to suggest a major market breakdown. Selected energy, refinery and power stocks attracted buying interest and prevented a sharper fall. The session instead highlighted a market caught between profit taking at elevated levels and continued interest in sectors capable of benefiting from energy and domestic economic activity. The KSE 100 Index moved through a wide intraday range of 1,027.19 points, reflecting considerable volatility during the session. It reached an intraday high of 181,647.27 before falling to a low of 180,620.08, where selling pressure intensified. Out of the 100 companies included in the benchmark, 65 closed lower, 34 gained and one remained unchanged. This market breadth indicates that Friday’s weakness was more widespread than the relatively modest 0.19 percent decline might suggest. ENGROH was the biggest drag on the index, reducing the benchmark by 131.63 points. UBL followed with a negative contribution of 70.66 points, while MCB, EFERT and FATIMA collectively added further pressure. The concentration of selling in major index heavyweights is important because even moderate profit taking in large companies can significantly influence the KSE 100 Index. It also raises questions about whether investors are becoming increasingly selective after the market’s strong performance during the year. Strait of Hormuz Concerns Add New Risk for Pakistan Stocks Global oil market developments added another layer of uncertainty to an already cautious trading environment. Oil prices moved higher after Iran released a draft plan proposing new restrictions on vessels passing through the Strait of Hormuz. The development revived concerns about possible disruption to one of the world’s most strategically important energy routes. Any prolonged disruption could push international oil prices higher, increasing pressure on countries that rely heavily on imported energy. For Pakistan, this risk deserves particular attention because higher international oil prices can affect the country’s import bill, inflation expectations, foreign exchange requirements and corporate profitability. However, the market’s reaction was not uniform. Energy and refinery stocks emerged among the strongest performers, suggesting that investors were positioning themselves for possible changes in energy prices and refining margins. Energy and Power Stocks Provide a Cushion HUBC was the largest positive contributor to the KSE 100 Index, adding 70.55 points. MARI contributed another 37.28 points, while CNERGY, GHGL and BOP also provided meaningful support. CNERGY was among the standout performers, gaining 6.13 percent, while GHGL advanced 4.78 percent. POWER and TRG also recorded gains. The sectoral picture further explains the day’s performance. Commercial banks dragged the index down by 182.37 points, while investment companies and securities companies contributed another negative 125.54 points. Fertilizer stocks also weighed heavily, reducing the index by 88.33 points. On the other side, power generation and distribution companies contributed 63.47 points, refinery stocks added 46.74 points and oil and gas exploration companies contributed 26.27 points. This divergence suggests that investors were not abandoning the market altogether. Instead, capital appeared to be rotating away from recently strong heavyweight sectors toward selected energy and defensive opportunities. Trading Activity Falls as Investors Become More Cautious The broader market also ended lower. The All Share Index declined 139.83 points, or 0.13 percent, to close at 109,168.66. Total market volume dropped to 716.04 million shares from 793.35 million in the previous session. Traded value also fell by Rs6.21 billion to Rs34.10 billion. Across 491 companies, 206 stocks closed higher, 260 declined and 25 remained unchanged, with 392,783 trades recorded. CNERGY dominated trading activity with more than 161 million shares changing hands. BOP followed with over 52 million shares, while WASL, PACE and NCPL also attracted substantial activity. The combination of declining volume and lower traded value alongside negative market breadth points toward a more cautious trading mood rather than aggressive market-wide selling. PSX KSE 100 Index Still Holds Strong Yearly Gains Despite Friday’s decline, the broader performance of the PSX KSE 100 Index remains positive. The benchmark has gained 1,128 points, or 0.63 percent, during the fiscal year, while its calendar year gain stands at 7,376 points, or 4.24 percent. This performance provides important context. A one day decline of 0.19 percent is relatively small compared with the benchmark’s overall advance. Nevertheless, investors should not dismiss repeated profit taking as insignificant. The key question for the market now is whether the KSE 100 Index can maintain its elevated levels while dealing with external risks, particularly oil price volatility, geopolitical tensions and uncertainty surrounding global energy supplies. The Friday session showed that investors remain willing to buy selected stocks, but they are becoming less willing to chase expensive positions blindly. If geopolitical risks intensify or oil prices remain elevated, pressure on heavyweight sectors could increase further. For Pakistan’s equity market, the next phase may therefore depend less on headline index gains and more on corporate earnings, interest rate expectations, currency stability and the country’s ability to manage external energy risks. What Friday’s PSX Session Signals for Investors Friday’s trading session delivered a mixed message. The KSE 100 Index remained near historically elevated levels, but selling in major banks, fertilizer companies and investment stocks exposed the market’s vulnerability to profit taking. At the same time, strength in power, refinery and energy companies showed that investors continue to identify opportunities despite geopolitical uncertainty. The immediate risk is not simply a single day of losses. The larger concern is whether external shocks, particularly a sustained rise in oil prices, could eventually undermine Pakistan’s macroeconomic stability and corporate earnings expectations. For now, the market remains firmly in positive territory on a calendar year basis. But Friday’s session serves as a warning that further gains may become increasingly dependent on strong fundamentals rather than momentum alone.

Soaring Production Costs, Expensive Energy Threaten Survival of Industries; Govt Urged to Take Emergency Measures
Pakistan

Soaring Production Costs, Expensive Energy Threaten Survival of Industries; Govt Urged to Take Emergency Measures

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Industrial Sector Faces Growing Pressure KARACHI: President of the SITE Association of Industry, Abdul Rehman Fudda, has urged the government to introduce immediate relief measures for the industrial sector, warning that rising production costs, expensive energy and policy uncertainty are putting the survival of industries at serious risk. In a statement, Mr. Fudda said a strong industrial base is indispensable for boosting exports, creating employment, attracting investment and ensuring sustainable economic growth. He cautioned that unless the challenges confronting manufacturers are addressed without delay, Pakistan’s economic recovery could lose momentum while fresh domestic and foreign investment may continue to decline. He noted that escalating electricity and gas tariffs, increasing production costs, high financing expenses and the absence of consistent economic policies have significantly undermined industrial activity. Despite these challenges, he said, the business community continues to keep the wheels of the economy moving, adding that further neglect of the industrial sector would be against the country’s broader economic interests. Urgent Reforms Needed to Support Manufacturers The SITE chief called upon the government to ensure the supply of energy at competitive tariffs, simplify the tax regime, expedite the payment of pending refunds, improve the ease of doing business and introduce investor-friendly policies. Such measures, he said, are essential to enable Pakistani manufacturers to compete effectively in international markets and strengthen the country’s export performance. Pakistan’s industrial sector plays a critical role in generating employment, supporting exports and attracting investment. However, elevated energy prices and other operating costs can make locally produced goods less competitive compared with products manufactured in regional markets. Policy Continuity Critical for Investment Mr. Fudda stressed that Pakistan’s industrial sector possesses enormous untapped potential, but this can only be realised through policy continuity, meaningful consultation with the private sector and timely pro-industry decisions. Uncertainty over taxation, energy pricing and economic regulations can discourage businesses from expanding their operations or making fresh investments. Greater policy consistency could therefore help businesses plan for the long term and improve investor confidence. Industrial Growth Essential for Economic Recovery He reaffirmed the industrial community’s commitment to supporting economic stability and national development, while urging the government to reciprocate by taking practical steps to restore investors’ confidence and place industrial growth at the centre of its economic agenda. The call for emergency measures highlights the growing concerns within Pakistan’s manufacturing sector. Addressing energy costs, taxation, financing challenges and regulatory uncertainty will be essential if the country is to strengthen industrial production, increase exports and create sustainable employment.

Saudi Arabia Launches Online Service for Foreign Worker Transfer to Individuals
World

Saudi Arabia Launches Online Service for Foreign Worker Transfer to Individuals

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New Rules Introduced for Worker Transfers Saudi Arabia has introduced a new Saudi foreign worker transfer service, allowing individuals to apply electronically for the transfer of foreign employees from private-sector companies to domestic occupations. The initiative, announced by the Ministry of Human Resources and Social Development, is aimed at improving labour market efficiency, strengthening transparency and ensuring better regulation of employment practices throughout the kingdom. Under the new system, eligible applicants will be able to submit requests through a dedicated online platform instead of relying on traditional administrative procedures. Officials said the measure would simplify the process while ensuring compliance with labour regulations and employment standards. The move is part of Saudi Arabia’s broader strategy to modernise public services and enhance the efficiency of labour market management through digital technologies. The newly launched Saudi foreign worker transfer service establishes several requirements that applicants must satisfy before a transfer request can be approved. According to the ministry, foreign workers must possess valid work permits and must not be employed in occupations categorised as highly specialised professions. The restrictions apply to employees working in sectors such as education, healthcare, engineering, information technology and other specialised fields. Authorities have also excluded workers employed in professions that have been fully Saudised under the government’s localisation policies. In addition, the new position must be officially recognised as a domestic occupation under Saudi labour regulations. Officials explained that the measures are intended to maintain balance within the labour market while protecting employment opportunities for Saudi citizens. Applicants Must Submit Supporting Documents Under the new regulations, individuals applying for a worker transfer will be required to provide several supporting documents through the online platform. Among the requirements is an electronically certified waiver from the worker’s existing employer. The document must also receive approval from the relevant chamber of commerce. Applicants must submit evidence of their financial capability by providing either a salary certificate or a recent bank statement. Authorities have also made it mandatory for applicants to upload a copy of the worker’s residency permit, which must contain the expatriate’s signature and fingerprint information. The application process additionally requires the submission of information regarding the proposed domestic occupation, along with the applicant’s full name and national identity card number. According to ministry officials, all supporting documents must be uploaded electronically in approved formats, including PDF, JPG, JPEG, PNG, DOCX and XLSX files. Each document must not exceed a maximum size of three megabytes. Wage Protection Programme Now Mandatory The launch of the Saudi foreign worker transfer service coincides with the expansion of the Wage Protection Program for domestic workers. Saudi authorities have made the programme mandatory to ensure that workers receive their wages through officially approved payment channels. Officials believe the initiative will strengthen the protection of workers’ rights while improving transparency and accountability within the labour market. The programme is also designed to help resolve disputes between employers and workers by creating a more transparent payment system. Government officials have stated that these measures will encourage greater compliance with labour regulations and contribute to a more efficient employment environment. Annual Fees and Exemptions Announced The ministry has also confirmed the introduction of annual charges related to the employment of domestic workers. Under the new policy, Saudi citizens who employ more than four domestic workers and residents who employ more than two workers will be required to pay an annual fee of 9,600 Saudi riyals for each additional employee. However, authorities have announced exemptions for humanitarian cases, including people with disabilities and individuals suffering from chronic or severe illnesses. The latest reforms reflect Saudi Arabia’s continuing efforts to modernise labour regulations and strengthen oversight of employment practices.

Meezan Bank Announces Financial Results for the Half Year Ended June 30, 2026 Meezan Bank Reports Rs 48.88 Billion Profit After Tax Karachi, 7th August, 2026: The Board of Directors of Meezan Bank, in their meeting approved the financial statements of the Bank for the half year ended June 30, 2026. The meeting was chaired by Mr. Riyadh S.A.A. Edrees – Chairman of the Board. The Bank reported a Profit After Tax (PAT) of Rs 48.88 billion, achieving an annualised Return on Equity of 34.7%, reflecting its ongoing commitment to enhancing shareholder value. Concurrently, basic Earnings per Share were recorded at Rs 27.15 (H1 2025: Rs 25.72). The Board approved an interim cash dividend of 80% (Rs 8.00 per share) for the second quarter of 2026. The Bank continues to maintain a strong capital position, with a Capital Adequacy Ratio above 19%, well above the regulatory requirement. Additionally, Meezan Bank remains one of the most valuable Banks in Pakistan with market capitalization exceeding USD 3.3 billion. Strong Assets and Asset Quality Total assets remained broadly stable, with the Bank closing the first half year of 2026 at Rs 5.14 trillion, compared with Rs 4.81 trillion as at December 2025. The Bank continues to demonstrate strong asset quality, with a non-performing financing ratio of 1.83%, among the lowest in the banking sector. It also maintains a prudent level of provisioning against non-performing financings, reflected in a coverage ratio of 152%. Net Spread and Non-Funded Income Show Growth The Bank’s net spread stood at Rs 128.79 billion (H1 2025: Rs 125.76 billion), representing an increase of 2%. Non-funded income increased to Rs 21.63 billion from Rs 15.92 billion in the corresponding period last year, reflecting a growth of 36%. This increase was primarily driven by higher foreign exchange income, branch banking fees, and debit card-related fees. Overall, the Bank’s Profit After Tax (PAT) rose by 6% year-on-year compared with H1 2025. SEO Optimized Keywords Meezan Bank financial results 2026, Meezan Bank profit, Meezan Bank half year results, Meezan Bank H1 2026, Meezan Bank PAT, Meezan Bank dividend, Meezan Bank interim dividend, Meezan Bank earnings, Meezan Bank Pakistan, Pakistan banking sector, Meezan Bank EPS, Islamic banking Pakistan, Meezan Bank financial performance Focus Key Phrase Meezan Bank financial results 2026 Meta Description Meezan Bank reported Rs 48.88 billion profit after tax for H1 2026 and approved an 80% interim cash dividend, with strong capital and asset quality.
Pakistan

Meezan Bank Announces Financial Results for the Half Year Ended June 30, 2026

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Meezan Bank Reports Rs 48.88 Billion Profit After Tax Karachi, 7th August, 2026: The Board of Directors of Meezan Bank, in their meeting approved the financial statements of the Bank for the half year ended June 30, 2026. The meeting was chaired by Mr. Riyadh S.A.A. Edrees – Chairman of the Board. The Bank reported a Profit After Tax (PAT) of Rs 48.88 billion, achieving an annualised Return on Equity of 34.7%, reflecting its ongoing commitment to enhancing shareholder value. Concurrently, basic Earnings per Share were recorded at Rs 27.15 (H1 2025: Rs 25.72). The Board approved an interim cash dividend of 80% (Rs 8.00 per share) for the second quarter of 2026. The Bank continues to maintain a strong capital position, with a Capital Adequacy Ratio above 19%, well above the regulatory requirement. Additionally, Meezan Bank remains one of the most valuable Banks in Pakistan with market capitalization exceeding USD 3.3 billion. Strong Assets and Asset Quality Total assets remained broadly stable, with the Bank closing the first half year of 2026 at Rs 5.14 trillion, compared with Rs 4.81 trillion as at December 2025. The Bank continues to demonstrate strong asset quality, with a non-performing financing ratio of 1.83%, among the lowest in the banking sector. It also maintains a prudent level of provisioning against non-performing financings, reflected in a coverage ratio of 152%. Net Spread and Non-Funded Income Show Growth The Bank’s net spread stood at Rs 128.79 billion (H1 2025: Rs 125.76 billion), representing an increase of 2%. Non-funded income increased to Rs 21.63 billion from Rs 15.92 billion in the corresponding period last year, reflecting a growth of 36%. This increase was primarily driven by higher foreign exchange income, branch banking fees, and debit card-related fees. Overall, the Bank’s Profit After Tax (PAT) rose by 6% year-on-year compared with H1 2025.

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