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PSX KSE-100 Index Surges Over 2,800 Points as Investors Return to Pakistan Stocks
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PSX KSE-100 Index Surges Over 2,800 Points as Investors Return to Pakistan Stocks

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PSX KSE-100 Index Surges Over 2,800 Points as Investors Rush Back into Pakistan Stocks The PSX KSE-100 Index staged a powerful comeback on Thursday, posting one of its strongest single-day gains in recent weeks as investors returned aggressively to the Pakistan Stock Exchange following last week’s sharp market correction. The benchmark index closed at 178,123.56 points, advancing 2,837.78 points, or 1.62%, while remaining in positive territory throughout the trading session. The market touched an intraday high of 178,431.73 points, with the day’s low staying comfortably above the previous close, reflecting sustained buying interest across key sectors. The sharp rebound indicates improving investor confidence, with market participants taking advantage of attractive valuations in fundamentally strong companies after the recent sell-off. Banking, Cement and Fertilizer Stocks Lead Market Recovery The rally in the PSX KSE-100 Index was driven by aggressive value buying in sectors considered financially resilient and well-positioned for long-term growth. Commercial banks emerged as the biggest contributors to the benchmark index as investors remained confident about the sector’s earnings outlook. Cement stocks also witnessed renewed buying on expectations of stronger construction and infrastructure activity. Fertilizer companies remained among the session’s strongest performers amid expectations of stable demand, while power generation companies added further momentum to the market’s recovery. The combination of bargain hunting and improving investor sentiment helped maintain positive momentum throughout the trading day. Trading Activity Strengthens Across the Market Investor participation increased significantly, reflecting growing confidence in Pakistan’s equity market. The PSX KSE-100 Index recorded trading volume of 311.88 million shares, while total market volume reached 736.96 million shares, substantially higher than the previous session. The value of traded shares climbed to Rs34.61 billion, highlighting stronger participation from both institutional and retail investors. A total of 496 companies were traded during the session. Among them, 342 stocks advanced, 129 declined, while 25 remained unchanged, demonstrating broad-based buying across multiple sectors. Blue-Chip Stocks Drive the Rally Several major listed companies recorded strong gains as investors accumulated shares throughout the session. Among the day’s best-performing stocks were Pioneer Cement (PIOC), Nishat Power (NPL), Sui Northern Gas Pipelines (SNGP), FATIMA, and TRG Pakistan, all posting notable gains. Meanwhile, a limited number of companies, including IBFL, HGFA, UPFL, RMPL, and LOTCHEM, ended the session lower, although their declines had only a marginal impact on the overall market. Among index heavyweights, Engro Holdings (ENGROH), United Bank Limited (UBL), Meezan Bank (MEBL), Hub Power Company (HUBC), and Lucky Cement (LUCK) made the largest positive contribution to the benchmark index. Most Active Stocks Reflect Broad Investor Participation Trading activity remained widespread across chemicals, banking, energy, technology, and industrial sectors. LOTCHEM emerged as the most actively traded stock despite closing slightly lower. It was followed by TPL Properties (TPLP), ITTEFAQ, TPL REIT Fund I (TPLRF1), Cnergyico (CNERGY), Bank of Punjab (BOP), WorldCall Telecom (WTL), OBOY, LSE Capital (LSECL), and Maple Leaf Cement Factory (MLCF), all attracting strong investor interest. The healthy distribution of trading volumes suggests that the market recovery extended well beyond a handful of blue-chip companies. Market Recovery Signals Improving Investor Sentiment Although the PSX KSE-100 Index remains down 2,178 points (1.21%) since the beginning of the current fiscal year, it has gained 4,069 points (2.34%) since the start of the calendar year. Thursday’s rally reflects improving resilience in Pakistan’s equity market following a period of heightened volatility. Investors appear increasingly willing to accumulate quality stocks as valuations become more attractive. Market participants will now closely monitor upcoming corporate earnings announcements, macroeconomic developments, inflation trends, and monetary policy expectations to assess whether the latest rebound can evolve into a sustained upward trend. Outlook for the Pakistan Stock Exchange The latest advance in the PSX KSE-100 Index highlights renewed confidence among investors and reinforces the market’s ability to recover after periods of correction. Strong trading activity, broad-based sector gains, and increased participation from both institutional and retail investors suggest that quality Pakistani equities continue to attract long-term interest. If corporate earnings remain strong and macroeconomic conditions continue to improve, the Pakistan Stock Exchange could maintain its recovery momentum in the weeks ahead.

Petrol Supply Under Pressure as Pakistan's Fuel Reserves Fall to Critical Levels
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Petrol Supply Under Pressure as Pakistan’s Fuel Reserves Fall to Critical Levels

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Pakistan Petrol Shortage Fears Rise as Fuel Stocks Fall to 14 Days Concerns over a Pakistan petrol shortage are intensifying as the country’s fuel supply chain faces mounting pressure from critically low petrol inventories, delayed import cargoes, rising international oil prices, and unresolved financial issues affecting oil marketing companies (OMCs). Industry officials have warned that Pakistan could face another fuel supply crisis unless immediate policy measures are taken to rebuild fuel inventories and address liquidity constraints across the petroleum sector. According to industry data, Pakistan’s available motor gasoline (petrol) stocks have declined to around 379,442 metric tons, including output from local refineries. Based on current consumption levels, these inventories are sufficient for only 14 days of nationwide demand. Petrol Demand Surges Ahead of Expected Price Increase The supply situation has become more challenging as petrol consumption continues to exceed expectations. During the first 13 days of July, average daily petrol sales reached approximately 25,000 metric tons, nearly 16% higher than projected and 26% above the level recorded during the corresponding period last year. Industry experts attribute the surge in demand to expectations of another increase in petroleum prices. Anticipating higher fuel costs, consumers and dealers have accelerated purchases, placing additional pressure on already limited inventories. Officials caution that if demand remains elevated, petrol stocks could fall further before fresh import cargoes arrive. Global Oil Market Volatility Adds to Supply Risks Developments in international energy markets have further complicated Pakistan’s fuel outlook. Continued tensions surrounding the Strait of Hormuz and the Bab el-Mandeb Strait have pushed up global crude oil prices and shipping costs, making fuel imports more expensive. However, petroleum industry representatives argue that domestic policy delays have worsened the impact of international market volatility. Unpaid PDC Claims Create Liquidity Crisis for OMCs A major concern is the federal government’s delay in releasing approximately Rs66.7 billion in outstanding Price Differential Claims (PDCs) owed to oil marketing companies. Industry representatives say these unpaid claims have severely weakened the financial position of OMCs at a time when companies require significant liquidity to finance increasingly expensive fuel imports. According to industry estimates, the blocked funds could finance imports of nearly 250,000 metric tons of petrol—equivalent to almost five import cargoes—which would substantially strengthen Pakistan’s fuel reserves. Officials noted that OMCs have continued ensuring uninterrupted fuel supplies despite currency depreciation, volatile international oil prices, and higher financing costs. However, sustaining these operations has become increasingly difficult while large government receivables remain unpaid. Import Delays Further Tighten Fuel Availability Pakistan is expected to receive import cargoes carrying approximately 153,000 metric tons of petrol in the coming days. However, industry sources said one planned cargo of 37,000 metric tons failed to arrive after it did not receive regulatory approval last month. Additionally, another scheduled petrol import involving four oil marketing companies has reportedly been cancelled, further tightening supply expectations. Industry representatives also highlighted delays in customs clearance under the Web-Based One Customs (WeBOC) system, saying administrative bottlenecks are slowing the release of imported fuel from ports. Officials warned that when inventories are already operating at minimum levels, even short customs delays can disrupt fuel deliveries to upcountry markets. Diesel Stocks Remain Relatively Comfortable Unlike petrol, high-speed diesel (HSD) inventories remain relatively stable. Current diesel stocks stand at approximately 500,000 metric tons, supported by production from domestic refineries. Nevertheless, industry officials cautioned that panic buying or fuel hoarding could eventually place pressure on diesel supplies if uncertainty over petrol availability continues. OCAC Warns Government of Emerging Fuel Supply Crisis The Oil Companies Advisory Council (OCAC) has formally alerted the federal government to the growing risks facing Pakistan’s petroleum supply chain. In a letter addressed to Petroleum Minister Ali Pervaiz Malik, the council warned that Pakistan’s immediately saleable petrol inventory has fallen to around 370,000 metric tons, equivalent to roughly 15 days of national consumption. OCAC said customs clearance delays through the WeBOC system, the earlier rejection of a planned June import cargo, and the sharp increase in fuel demand driven by expectations of higher international oil prices have all contributed to tightening supplies. The council also reiterated that unresolved payments of Rs66.7 billion in outstanding Price Differential Claims have created a severe liquidity crisis for oil marketing companies, limiting their ability to finance additional fuel imports. Industry Urges Immediate Government Action Petroleum sector representatives believe Pakistan can still avoid another fuel shortage if the government acts swiftly. They have urged the federal government and the Oil and Gas Regulatory Authority (OGRA) to immediately release outstanding PDC payments, expedite customs clearance procedures, and facilitate the uninterrupted movement of imported fuel cargoes. Industry officials warned that failure to resolve these issues could trigger panic buying, fuel hoarding, and temporary dry-outs at petrol stations, similar to previous supply disruptions. While diesel supplies remain relatively comfortable, they stressed that maintaining adequate petrol inventories is essential to ensuring uninterrupted fuel availability and preventing disruptions to Pakistan’s transportation, industrial, and commercial sectors.

Karachi Wholesale Market Strike Disrupts Commodity Supply Across Pakistan
Pakistan

Karachi Wholesale Market Strike Disrupts Commodity Supply Across Pakistan

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The Karachi wholesale market strike brought commercial activity to a standstill on Wednesday, disrupting the supply of essential commodities across Pakistan after traders shut down the city’s major wholesale markets in protest against what they described as unfair enforcement actions by the local administration. The strike, organized by the Karachi Wholesale Grocers Association, forced the closure of key wholesale trading hubs, suspending the movement of food grains and other essential goods from Karachi to various parts of the country and raising concerns over potential supply chain disruptions if the dispute continues. Major Wholesale Markets Remain Shut According to Karachi Wholesale Grocers Association Chairman Abdul Rauf Ibrahim, wholesale markets in Korangi, Landhi, and Liaquatabad joined the strike alongside Karachi’s central wholesale market. Major commercial centers, including Jodia Bazaar, Dandia Bazaar, and Lea Market, remained closed throughout the day, with traders locking shops and warehouses while displaying protest banners across the markets. Traders also established a protest camp to press their demands and draw attention to what they described as unjust treatment by the city administration. Traders Protest Fines and Shop Sealing Abdul Rauf Ibrahim alleged that authorities had imposed fines worth millions of rupees on wholesale traders and sealed dozens of businesses as part of what he termed arbitrary enforcement measures. According to him, these actions have created uncertainty among traders, disrupted normal business operations, and negatively affected commercial activity in Karachi’s wholesale sector. He urged the government to reconsider its approach and engage with trader representatives to resolve the dispute. Traders Question Action Against Wholesale Sector The association also questioned why flour mill owners were not facing similar enforcement despite allegations of selling flour at inflated prices. Ibrahim argued that if the government is serious about addressing the flour pricing and supply situation, it should take action against all stakeholders rather than focusing solely on wholesale traders. He maintained that the strike was a response to what traders believe is discriminatory treatment by the local administration. Commodity Transportation Comes to a Halt The strike also brought the transportation of essential commodities to a standstill. With wholesale markets closed, trucks carrying food grains and other goods were unable to depart from Karachi for destinations across Pakistan. The disruption has raised concerns about possible shortages and delays in supply if the standoff between traders and authorities continues beyond the planned protest period. Karachi serves as Pakistan’s largest commercial hub, making uninterrupted wholesale market operations critical for maintaining nationwide supply chains. Traders Seek Dialogue with Administration According to the traders’ association, repeated attempts to engage with the city administration have not produced meaningful results. Abdul Rauf Ibrahim claimed that the Commissioner Karachi had declined to meet representatives of the wholesale trade sector, further increasing tensions between traders and government authorities. The association called on the administration to initiate dialogue and address the concerns of wholesalers through consultation rather than punitive measures. Daily Wage Workers Also Affected The one-day shutdown also impacted hundreds of daily wage workers who depend on Karachi’s wholesale markets for employment. With trading activity suspended and goods transportation halted, many laborers were left without work and income for the day. Traders warned that while the current strike was planned as a one-day protest, further demonstrations could follow if the government fails to address their grievances. Government Response Awaited The protest underscores growing tensions between Karachi’s wholesale trading community and the local administration over market regulation, penalties, and enforcement practices. Market participants are now awaiting the government’s response, hoping for negotiations that can restore normal business operations and ensure the uninterrupted movement of essential commodities across Pakistan.

Sugar Mills Seek Approval to Export 600,000 Tons of Sugar, Target $575 Million in Foreign Exchange
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Sugar Mills Seek Approval to Export 600,000 Tons of Sugar, Target $575 Million in Foreign Exchange

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The Pakistan Sugar Mills Association (PSMA) has urged the federal government to approve the export of an additional 600,000 metric tons of sugar, arguing that Pakistan has ample surplus stocks to meet domestic demand while generating an estimated $575 million in foreign exchange through exports. In a letter addressed to the Federal Minister for National Food Security, the association requested immediate approval for the proposed exports, stating that the government had previously assured the industry that surplus sugar would be allowed for export but the commitment has yet to be implemented. Sugar Mills Cite Large Surplus Stocks According to the PSMA, Pakistan ended the current crushing season with 7.967 million metric tons of sugar stocks. The association said that after accounting for domestic consumption, the country still has a surplus of approximately 1.181 million metric tons, leaving sufficient inventories to facilitate exports without disrupting local supply. The industry believes that exporting a portion of the surplus would help balance the domestic market while maintaining adequate sugar availability for consumers throughout the year. Industry Seeks 600,000-Ton Export Approval The association requested the government to approve the remaining 550,000 metric tons of sugar exports that were previously proposed and authorize an additional quantity, bringing the total export request to 600,000 metric tons. According to the PSMA, allowing these exports would generate around $575 million in foreign exchange, providing much-needed support to Pakistan’s external account at a time when the country continues efforts to strengthen its foreign exchange reserves. The association maintained that exporting surplus sugar would not compromise domestic food security, given the significant carryover stocks currently available. Strong Sugarcane Crop Expected Next Season The sugar industry also highlighted encouraging prospects for the upcoming crushing season. According to the PSMA, improved and timely payments to sugarcane growers have encouraged farmers to cultivate higher-quality sugarcane varieties, which is expected to boost production. The association projects that Pakistan’s sugar production could reach around 8 million metric tons during the next crushing season, further increasing the country’s exportable surplus. The industry believes the expected rise in production will strengthen domestic supply while creating additional opportunities to expand agricultural exports. Sugar Mills Say Prices Are Below Production Cost The association argued that current domestic sugar prices have fallen below the industry’s production costs, placing financial pressure on sugar mills. According to the PSMA, continued low prices have affected the financial sustainability of the sector and reduced liquidity available to mills. The industry believes that allowing exports would help stabilize domestic prices, improve cash flows, and enable mills to make timely payments to sugarcane farmers. The association added that stronger financial conditions for sugar mills would ultimately benefit growers by ensuring prompt procurement and settlement of sugarcane payments. Government to Review Export Request The request comes as the government continues to balance domestic food security concerns with opportunities to increase exports and earn foreign exchange. Authorities have traditionally adopted a cautious approach toward sugar exports to avoid shortages and prevent sharp increases in retail prices. The federal government is expected to review the industry’s proposal before making a final decision on whether to permit the additional sugar exports. If approved, the move could support Pakistan’s export earnings, ease surplus inventories, and provide financial relief to both sugar mills and sugarcane farmers ahead of the next crushing season.

UNESCO Pakistan to Launch Regional Webinar Series on Science, Ethics and Innovation
Pakistan

UNESCO Pakistan to Launch Regional Webinar Series on Science, Ethics and Innovation

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UNESCO Pakistan is set to launch a year-long regional webinar series on Science, Ethics and Innovation in collaboration with the Commission on Science and Technology for Sustainable Development in the South (COMSATS) and the ECO Science Foundation (ECOSF). The initiative forms part of the International Decade of Sciences for Sustainable Development (IDSSD) 2024–2033 and aims to strengthen regional cooperation in science, technology, and innovation while supporting the achievement of the United Nations Sustainable Development Goals (SDGs). The announcement coincides with the opening of the 2026 Global Conference of the International Decade of Sciences for Sustainable Development in Paris, where UNESCO unveiled its first Global Report on the Science Decade, highlighting both significant scientific progress and persistent global inequalities in research and innovation. UNESCO Launches First Global Science Decade Report The two-day conference has brought together more than 800 ministers, scientists, policymakers, and global leaders to assess the role of science in advancing the Sustainable Development Goals. During the event, UNESCO released the First Global Report of the International Decade of Sciences for Sustainable Development, which evaluates the progress made during the initiative’s first two years. According to the report, 397 UNESCO-endorsed scientific initiatives across 79 countries have collectively mobilized approximately $50 million in confirmed funding, supporting projects linked to all 17 Sustainable Development Goals. However, the report also highlights major disparities in global scientific participation. Although Africa accounts for 17.5% of the world’s population, the continent represents less than 10% of the endorsed initiatives. Additionally, nearly 40% of participating projects identified weak coordination—not funding—as their biggest obstacle, indicating that stronger governance and collaboration are essential for scientific progress. UNESCO Calls for Stronger Science Governance Speaking at the conference, UNESCO Director-General Dr. Khaled El-Enany emphasized that scientific knowledge alone is not enough to address today’s global challenges. He said governments must now translate scientific research into effective public policies, sustainable investments, and measurable outcomes that benefit both people and the planet. The report recommends five key reforms to strengthen global science systems and accelerate progress toward the SDGs: Progress on Open Science Remains Uneven UNESCO also released new findings on the implementation of its Recommendation on Open Science, adopted in 2021. The data shows that 81 countries have taken steps to implement the recommendation, with 60% of open science policies introduced during the past five years directly referencing UNESCO’s framework. Despite this progress, implementation remains inconsistent. While 79% of governments report having an open science policy framework, only 41% have developed implementation plans, and just one-third have established monitoring mechanisms to measure the effectiveness of these policies. UNESCO says stronger implementation is needed to ensure scientific knowledge becomes more accessible, transparent, and beneficial for society. UNESCO Pakistan to Promote Regional Science Cooperation Building on the momentum of the Global Conference, UNESCO Pakistan, together with COMSATS and ECOSF, plans to launch a regional webinar series focused on Science, Ethics and Innovation. The year-long programme will provide a platform for policymakers, researchers, academics, universities, and scientific institutions from across the region to exchange knowledge, strengthen science diplomacy, and encourage South-South cooperation. The initiative seeks to promote ethical, inclusive, and responsible approaches to science and technology while supporting evidence-based policymaking and regional collaboration. Eleven Webinars to Cover Emerging Scientific Fields The webinar series will feature 11 thematic sessions covering a broad range of emerging scientific and policy issues. Topics will include: According to UNESCO Pakistan, the programme will showcase the organization’s global normative frameworks and flagship initiatives while encouraging dialogue on responsible scientific innovation across the region. Supporting Sustainable Development Through Science The regional initiative aligns with UNESCO’s broader objective of ensuring science plays a central role in addressing global challenges, including climate change, inequality, technological governance, and sustainable development. By connecting experts, institutions, and policymakers across South Asia and neighbouring regions, the webinar series aims to strengthen scientific cooperation, improve knowledge sharing, and promote ethical innovation that contributes to the Sustainable Development Goals. The programme is expected to run throughout the year under the framework of the International Decade of Sciences for Sustainable Development (2024–2033), reinforcing UNESCO’s commitment to building stronger regional partnerships and advancing science for sustainable and inclusive development.

NCCPL Removes Pioneer Cement, PREMA and SLGL from MTS List After Quarterly Review
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NCCPL Removes Pioneer Cement, PREMA and SLGL from MTS List After Quarterly Review

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The National Clearing Company of Pakistan Limited (NCCPL) has announced significant changes to the list of securities eligible for Pakistan’s Margin Trading System (MTS), removing Pioneer Cement Limited (PIOC), At-Tahur Limited (PREMA), and Secure Logistics-Trax Group Limited (SLGL) following its latest quarterly review. The revised MTS and Margin Eligible Securities (MES) lists will come into effect from July 30, 2026, while the removal of the three securities from the MTS framework will be effective from August 17, 2026. The quarterly review was conducted under the provisions of the NCCPL Regulations 2015, with the mandatory 15-day advance notice provided to market participants. Clearing members have been advised to adjust their trading positions and collateral holdings before the revised framework becomes operational. HMB, NCPL and NPL Added to MTS List As part of the quarterly review, NCCPL has added three companies to the list of securities eligible for the Margin Trading System. The newly included securities are Habib Metropolitan Bank Limited (HMB), Nishat Chunian Power Limited (NCPL), and Nishat Power Limited (NPL). All three securities will be eligible for margin trading with a contract duration of 60 days. Following the latest revision, a total of 70 securities now qualify for MTS and MT(R) transaction margins. NCCPL also retained 12 securities under the applicable relaxation criteria despite those companies not fully meeting the standard eligibility benchmarks. The majority of eligible securities continue to carry a 60-day contract period. However, Crescent Star Insurance Limited (CSIL) and TPL REIT Fund I (TPLRF1) will remain eligible only for 30-day contracts, with TPLRF1 also subject to additional restrictions regarding its use as collateral for margin trading transactions. Pioneer Cement, PREMA and SLGL to Exit MTS Three securities will cease to qualify for the Margin Trading System from August 17, 2026. According to NCCPL, Pioneer Cement Limited (PIOC) no longer satisfies the free-float requirement, which requires companies to maintain either more than 25% free float of issued capital or at least 40 million free float shares. Meanwhile, At-Tahur Limited (PREMA) and Secure Logistics-Trax Group Limited (SLGL) failed to meet the required 22nd percentile benchmark, even after the application of available regulatory relaxations. Market participants with leveraged positions in these securities have been advised to unwind their exposures before the effective removal date. The review reflects NCCPL’s objective of ensuring that only sufficiently liquid and actively traded securities remain eligible for leveraged trading facilities. Margin Eligible Securities List Also Updated Alongside the MTS review, NCCPL has also updated the list of Margin Eligible Securities (MES) accepted as collateral by clearing members. Four securities have been added to the collateral framework under Category B: At the same time, 12 securities have been removed from the MES lists. NCCPL stated that the primary reasons for their exclusion include impact costs exceeding 2% or failure to rank among the top 200 securities under the prescribed eligibility criteria. Clearing members have been instructed to ensure that all pledged collateral complies with the revised lists before July 30, 2026, to avoid valuation or settlement issues. Category Changes Announced The quarterly review also introduced several category changes within the collateral framework. Crescent Steel and Allied Products Limited (CSAP) has been upgraded from Category B to Category A after its market impact cost declined below the required threshold of 1%, indicating improved market liquidity. Meanwhile, the following securities have been downgraded from Category A to Category B after recording higher impact costs: These adjustments reflect changes in trading liquidity and market activity observed during the review period. ETFs, Money Market Funds and Bank Guarantees Remain Eligible NCCPL has continued to accept nine Exchange Traded Funds (ETFs) as eligible collateral for clearing and settlement purposes. The eligible ETFs include conventional, sector-specific, and Shariah-compliant investment products, providing clearing members with diversified collateral options. In addition, 26 open-end money market and Islamic money market funds will continue to qualify as acceptable collateral. The updated framework also retains 22 commercial banks approved to issue Bank Guarantees that may be used as collateral, with most institutions maintaining AAA long-term credit ratings assigned by VIS Credit Rating Company and PACRA. Strengthening Market Stability NCCPL’s quarterly review forms an important part of Pakistan’s capital market risk management framework by ensuring that securities eligible for leveraged trading continue to meet prescribed standards relating to liquidity, free float, and market activity. Regular reviews of both the Margin Trading System and Margin Eligible Securities framework help strengthen market integrity, improve risk management, and maintain confidence among investors, brokers, and clearing members. With the revised lists taking effect later this month, market participants are expected to adjust their leveraged positions and collateral arrangements to remain compliant with NCCPL regulations.

Iran Retaliates Against US Strikes with Attacks on Bases in Kuwait, Jordan
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Iran Retaliates Against US Strikes with Attacks on Bases in Kuwait, Jordan

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Iran Claims Missile and Drone Attacks on US-Linked Gulf Bases Iran has escalated tensions in the Middle East by claiming to have launched attacks on US-linked military bases in Kuwait and Jordan, following a fresh wave of American strikes on Iranian targets. The latest developments mark a significant escalation in the regional conflict, raising concerns over the security of Gulf states, global energy supplies, and international shipping routes. Retaliatory Strikes Intensify Regional Conflict Iran’s Islamic Revolutionary Guard Corps (IRGC) announced that it had carried out retaliatory operations targeting US military facilities. According to reports, missile and drone attacks targeted sites including Prince Hassan Air Base in Jordan and military installations in Kuwait. Explosions and fires were reported at fuel depots and ammunition storage facilities, while Jordanian and Kuwaiti defense systems were activated. Authorities reportedly intercepted some incoming projectiles as part of their air defense operations. The strikes came days after a fragile truce collapsed, with the United States conducting attacks on Iranian coastal and nuclear-related facilities, including areas near Bandar Abbas. Strait of Hormuz Shipping Faces Fresh Disruptions The renewed conflict has increased concerns over maritime security in the Strait of Hormuz, one of the world’s most important oil transit routes. Shipping traffic through the strategic waterway has slowed considerably as commercial vessels reassess security risks amid the ongoing military escalation. The disruption has heightened fears of potential interruptions to global crude oil supplies and increased freight costs. Global Energy Markets on Alert The latest escalation has contributed to renewed volatility in international oil markets. Oil prices have risen as investors price in the growing geopolitical risks associated with the conflict and the possibility of further disruptions to energy exports from the Gulf. Analysts warn that prolonged instability could have significant consequences for energy-importing countries, including Pakistan, through higher fuel import costs, inflationary pressures, and increased pressure on the external account. Regional Risks Continue to Grow India has advised its shipowners to avoid deploying seafarers on routes passing through the Strait of Hormuz, highlighting growing concerns over the safety of commercial shipping in the region. Iran has also warned of potential action affecting additional strategic sea lanes if the confrontation continues, raising fears of wider disruptions to international trade. Security analysts believe the conflict has entered a more dangerous phase, with the risk of broader regional involvement increasing as tensions continue to escalate. Uncertainty Remains High The situation remains fluid as both Iran and the United States continue military operations and exchange threats. With rising risks to Gulf security, international shipping, and global energy markets, governments and businesses are closely monitoring developments for signs of further escalation that could have widespread economic and geopolitical consequences.

SBP Unveils New Debit Card to Accelerate Pakistan's Cashless Future
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SBP Unveils New Debit Card to Accelerate Pakistan’s Cashless Future

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SBP Launches Co-Badged Debit Card to Advance Cashless Pakistan Pakistan has taken another major step toward building Cashless Pakistan as the State Bank of Pakistan (SBP) launched a new co-badged debit card developed in collaboration with HBL, UnionPay International, and PayPak. Speaking at the launch ceremony, SBP Governor Jameel Ahmad described the initiative as a significant milestone in Pakistan’s transition toward a modern, secure, resilient, and inclusive digital payments ecosystem. He said the new payment solution supports the government’s vision of promoting a cash-lite economy while strengthening the country’s domestic payment infrastructure. The co-badged debit card combines the capabilities of PayPak, Pakistan’s domestic payment scheme, with the international acceptance of UnionPay International, enabling customers to conduct seamless transactions both within Pakistan and abroad. Supporting SBP Vision 2028 and the Cashless Pakistan Initiative The governor said the initiative aligns with the State Bank’s long-term strategy of developing PayPak into a secure, cost-effective, and locally governed payment network capable of supporting Pakistan’s rapidly expanding digital economy. He added that the launch also supports SBP Vision 2028 and the federal government’s Cashless Pakistan Initiative, both of which aim to build a financial system that is more digital, inclusive, and resilient. Jameel Ahmad emphasized that digitization is not an end in itself but a means of providing individuals and businesses with faster, safer, and more efficient payment solutions. Digital Payments Continue Rapid Growth Highlighting Pakistan’s increasing adoption of digital financial services, the SBP governor revealed that retail digital transaction volumes increased from nearly 6.9 billion to almost 12 billion over the past year. He also shared that the number of active merchants accepting digital payments expanded from approximately 500,000 to more than 2 million, reflecting significant growth in Pakistan’s digital commerce ecosystem. According to the governor, mobile banking adoption has also accelerated, with nearly 137 million users now utilizing banking applications. Meanwhile, the share of overseas remittances received through digital channels has increased from around 80% to 92%, demonstrating rising public confidence in digital financial services. He said these figures indicate that Pakistan is making steady progress toward becoming a cash-lite economy. PayPak and Raast at the Core of Digital Infrastructure The SBP governor stressed that domestic payment platforms such as PayPak and Raast should remain central to Pakistan’s digital financial infrastructure as financial technology continues to evolve. He noted that the country’s payment ecosystem must remain secure, resilient, and capable of adapting to future technological developments. Jameel Ahmad suggested that PayPak should become the default payment network for all domestic debit card issuance, while co-badged cards should provide international payment capabilities whenever customers require them. Collaboration Key to Digital Financial Inclusion The governor said PayPak’s continued success would depend on ongoing innovation and stronger collaboration among banks, payment service providers, fintech companies, merchants, and other stakeholders across Pakistan’s digital payments ecosystem. He also urged financial institutions to expand digital payment acceptance, strengthen cybersecurity, improve public awareness of digital financial services, and continue delivering reliable and customer-focused payment solutions. New Card to Strengthen Pakistan’s Digital Economy Concluding his remarks, Jameel Ahmad congratulated HBL, UnionPay International, PayPak, and 1LINK for successfully launching the co-badged debit card. He said the partnership demonstrates how collaboration between domestic and international payment networks can accelerate innovation, promote financial inclusion, and support Pakistan’s transition toward a modern digital economy. Milestone for Pakistan’s Cashless Future The launch of the new co-badged debit card marks another important milestone in Pakistan’s digital transformation. By combining domestic payment infrastructure with global acceptance, the initiative is expected to strengthen Cashless Pakistan, expand financial inclusion, and support the country’s long-term vision of a secure and efficient digital payments ecosystem.

Pakistan-Türkiye Investment Cooperation Gains Momentum Through SIFC-Led Business Conference
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Pakistan-Türkiye Investment Cooperation Gains Momentum Through SIFC-Led Business Conference

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SIFC Hosts Pakistan-Türkiye Business Conference to Strengthen Bilateral Investment Pakistan-Türkiye investment cooperation has taken a significant step forward after the Special Investment Facilitation Council (SIFC) hosted the Pakistan-Türkiye Business Conference, aimed at strengthening bilateral investment, industrial collaboration, and long-term economic partnerships. The conference highlighted the growing role of the SIFC in promoting economic diplomacy, attracting foreign direct investment (FDI), and supporting sustainable economic growth in Pakistan. By simplifying investment procedures and providing a streamlined regulatory framework, the council is working to position Pakistan as a competitive destination for international investors. Business Leaders Explore New Investment Opportunities The Pakistan-Türkiye Business Conference brought together government representatives, business leaders, and investors to explore new avenues for trade, investment, and industrial cooperation. Participants highlighted Pakistan’s improving investment climate, ongoing policy reforms, and expanding business opportunities across multiple sectors of the economy. Discussions focused on strengthening bilateral collaboration through joint ventures, encouraging technology transfer, expanding private-sector partnerships, and identifying new investment opportunities that could benefit businesses in both Pakistan and Türkiye. Focus on Joint Ventures and Industrial Collaboration The conference emphasized the importance of innovation, industrial cooperation, and knowledge sharing in driving long-term economic growth. Participants discussed ways to deepen collaboration in manufacturing, technology, infrastructure, and other strategic sectors while creating greater value through mutually beneficial partnerships. Officials noted that enhanced cooperation between Pakistani and Turkish businesses could contribute to increased investment flows, technology adoption, and job creation. Prime Minister Reaffirms Support for Turkish Investors Prime Minister Shehbaz Sharif assured Turkish investors that the government would continue providing timely decision-making, regulatory facilitation, and comprehensive support through the SIFC. He reaffirmed Pakistan’s commitment to maintaining a business-friendly environment that encourages foreign investment and strengthens long-term strategic economic partnerships. The prime minister emphasized that improving investor confidence remains a key priority under the government’s broader economic reform agenda. SIFC’s One-Window Facilitation Driving Investment The conference highlighted the SIFC’s one-window facilitation system as an important mechanism for improving coordination among government institutions and accelerating investment projects. By reducing bureaucratic hurdles and ensuring efficient communication between stakeholders, the council aims to make investment procedures faster, more transparent, and investor-friendly. Officials said ongoing policy reforms and facilitation measures are improving Pakistan’s competitiveness, supporting industrial development, enhancing the ease of doing business, and encouraging greater private-sector participation. Deepening Pakistan-Türkiye Economic Partnership The event reflected the growing economic relationship between Pakistan and Türkiye, with both countries seeking to expand cooperation beyond traditional trade into manufacturing, technology, infrastructure, and other high-potential sectors. Both sides expressed interest in strengthening long-term partnerships that can support sustainable economic growth, increase bilateral trade, and promote industrial development. SIFC Continues to Drive Foreign Investment As Pakistan continues implementing economic reforms and expanding international partnerships, the Special Investment Facilitation Council (SIFC) remains central to the country’s investment strategy. Through its focus on facilitating foreign investment, improving regulatory efficiency, and promoting economic diplomacy, the council is playing an increasingly important role in attracting high-value investments and supporting Pakistan’s long-term economic development.

France to Close Karachi Consulate, Says Decision Driven Solely by Budget Reasons
Pakistan

France to Close Karachi Consulate, Says Decision Driven Solely by Budget Reasons

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France Confirms Karachi Consulate Closure Amid Global Diplomatic Restructuring France has announced the France Karachi Consulate Closure, confirming that its Consulate General in Karachi will shut down as part of a global diplomatic restructuring. French Consul General Alexis Chahtahtinsky clarified that the decision was taken exclusively for budgetary reasons and does not reflect any change in France’s long-standing commitment to Pakistan. The announcement was made during a ceremony in Karachi marking French National Day (Bastille Day), where the consul general assured diplomats, government officials, business leaders, and members of the French and Pakistani communities that France would continue strengthening its partnership with Pakistan through its Embassy in Islamabad while maintaining a presence in Karachi through other institutions. Closure Part of Global Budget Rationalization Addressing the gathering, Chahtahtinsky explained that the French government is streamlining its diplomatic network worldwide to make its overseas presence “thinner and leaner.” He emphasized that the France Karachi Consulate Closure is based solely on financial considerations and forms part of a broader restructuring affecting several countries rather than any shift in France’s diplomatic priorities toward Pakistan. The consul general stressed that bilateral relations between France and Pakistan remain strong and will continue to develop despite the closure of the diplomatic mission. France to Maintain Presence Through Key Institutions Although the Consulate General will close, France will continue engaging with Sindh and Balochistan through three key institutions. According to Chahtahtinsky, a newly appointed Honorary Consul General will continue providing consular services and coordinating with provincial governments. He added that the Pakistan France Business Alliance (PFBA) will remain active in promoting bilateral trade and investment, while Alliance Française Karachi will continue serving as the city’s leading institution for French language education, cultural activities, and academic exchanges. Bastille Day Celebrates Shared Values Speaking during what is expected to be one of his final Bastille Day celebrations in Karachi as consul general, Chahtahtinsky said it had been a privilege to represent France in Sindh and Balochistan. He noted that Bastille Day commemorates both the French Revolution and France’s Armed Forces Day, symbolizing the enduring values of liberty, equality, and fraternity. Recalling the storming of the Bastille on July 14, 1789, he described it as a defining moment in history that represented the rejection of oppression and arbitrary rule, adding that the ideals of the French Revolution continue to inspire societies around the world. France Reaffirms Long-Standing Partnership with Pakistan The consul general described France as one of Pakistan’s oldest and most reliable international partners. He noted that France became the first non-Muslim country to recognize Pakistan following its independence in 1947 and has since supported the country’s development across sectors including education, healthcare, archaeology, culture, and economic cooperation. Chahtahtinsky also highlighted the continued engagement between the leadership of both countries, noting that French President Emmanuel Macron and Prime Minister Shehbaz Sharif have held several meetings since the devastating floods that affected Sindh and Balochistan in 2022. According to him, these high-level engagements reflect the importance both governments attach to strengthening bilateral relations. French Companies Continue Investing in Pakistan The consul general said several major French companies continue operating successfully in Pakistan, contributing to investment, industrial development, and employment. He cited CMA CGM, Schneider Electric, L’Oréal, and Peugeot among the leading French companies with operations in the country. He particularly highlighted the local assembly of Peugeot vehicles at Lucky Motors’ manufacturing facility in Karachi’s Korangi Industrial Area as a successful example of industrial collaboration between France and Pakistan. Chahtahtinsky also acknowledged the growing contribution of Pakistani companies to bilateral trade. He noted that Gul Ahmed and Chottani Industries continue exporting textile products to France, while pharmaceutical company Martin Dow has expanded its investment footprint into the French market. He added that Pakistani exporters continue to benefit from preferential access to French and broader European markets. Cultural, Educational and Archaeological Cooperation to Continue Beyond trade and investment, the consul general emphasized the deep cultural and educational ties between the two countries. He said French archaeologists have worked alongside Pakistani experts for more than six decades to excavate and preserve historical sites across Sindh and Balochistan, contributing significantly to the preservation of Pakistan’s cultural heritage. Chahtahtinsky also highlighted partnerships with organizations including the Aga Khan Foundation and the Institute of Business Administration (IBA) in education and development initiatives. He noted that Alliance Française de Karachi, Pakistan’s oldest foreign cultural institution, will continue promoting French language education, cultural exchanges, and artistic collaboration despite the closure of the consulate. He further pointed out that Campus France now has a permanent representative in Karachi, helping Pakistani students explore higher education opportunities in France and strengthening academic cooperation between the two countries. Diplomatic Ties to Continue Beyond the Consulate Concluding his address, Chahtahtinsky reaffirmed that while the France Karachi Consulate Closure marks the end of the French Consulate General’s operations in Karachi, France’s diplomatic, economic, educational, and cultural engagement with Pakistan will continue through its Embassy in Islamabad and long-standing institutional partnerships across the country.

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