Breaking News Archives - Page 4 of 16

SECP Cracks Down Hard: Rs4.73bn Fines Slapped In Five Months

Web Desk / July 30, 2026

SECP Intensifies Enforcement Drive Across Corporate Sector The Securities and Exchange Commission of Pakistan (SECP) has imposed more than Rs4.73 billion in penalties across 531 adjudication proceedings between February and June 2026, marking a significant escalation in regulatory enforcement following the appointment of new Commissioners in February. The regulator said the enforcement campaign aims to strengthen compliance with corporate governance standards and regulatory requirements across listed and unlisted companies, financial institutions and the insurance sector, while reinforcing market integrity and protecting investors. Listed Companies Face Corporate Governance Penalties The SECP concluded 99 proceedings involving listed companies for violations of the Companies Act, 2017, and related regulations, imposing penalties exceeding Rs9.10 million. Common violations included failure to hold statutory meetings on time, non-compliance with disclosure and reporting requirements, breaches of corporate governance provisions and failures to meet financial reporting obligations. The regulator also cited non-compliance with board composition requirements, including the appointment of independent and female directors, which it said are essential for protecting shareholder rights, particularly those of minority investors. Capital Markets And NBFCs Also Under Scrutiny Under the capital markets regulatory framework, the SECP concluded 69 proceedings involving violations of the Securities Act, 2015, and the Anti-Money Laundering Act, 2010. The cases resulted in regulatory directions for corrective action and penalties exceeding Rs1.61 million. Violations included non-compliance with takeover regulations, beneficial ownership disclosure requirements and corporate governance rules. The SECP also concluded 53 proceedings against Non-Banking Finance Companies (NBFCs), imposing penalties of more than Rs1.47 million. The violations included deficiencies in customer verification, compliance with targeted financial sanctions, Anti-Money Laundering requirements and other regulatory obligations. Insurance Sector Penalised For Compliance Failures The regulator concluded 25 adjudication proceedings in the insurance sector, resulting in penalties exceeding Rs2.11 million. The cases mainly involved delays in settling policyholders’ claims, breaches of solvency requirements, shortcomings in reinsurance arrangements, violations of the Anti-Money Laundering Act, 2010, and other regulatory requirements. Private Companies Receive Majority Of Penalties The largest share of enforcement action targeted private and unlisted companies. The SECP concluded 285 adjudication proceedings, imposing penalties amounting to approximately Rs4.7 billion. Among these were penalty orders against three companies and their directors for engaging in illegal deposit-taking activities in violation of Section 84 of the Companies Act, 2017. The Commission also focused on improving compliance among State-Owned Enterprises (SOEs). A total of 117 adjudication orders were issued against SOEs, with 87 entities receiving financial penalties, while 30 companies were issued warnings after rectifying identified non-compliances during the proceedings. SECP Reaffirms Zero-Tolerance Approach SECP Chairman Dr. Kabir Ahmed Sidhu said compliance with the law is mandatory and that the regulator’s enforcement actions send a clear message that violations will not be tolerated. He added that the Commission will continue to uphold high standards of corporate governance, protect investors and ensure transparent, fair and accountable markets.

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Zinedine Zidane Appointed France Coach After End of Didier Deschamps’ Historic Era

Web Desk / July 29, 2026

The long-awaited appointment has finally become reality. Zinedine Zidane Appointed France Coach is now official after the French Football Federation (FFF) confirmed the legendary former midfielder as the new head coach of the French national team. The decision marks one of the most significant managerial changes in international football and signals the beginning of a new chapter for one of the world’s strongest football nations. After years of speculation, Zidane has secured the role many believed was destined to be his. The appointment follows the departure of Didier Deschamps, whose remarkable 13-year reign transformed France into a global football powerhouse and established one of the most successful eras in the country’s history. Zinedine Zidane Appointed France Coach After Years of Expectation The announcement comes as little surprise to football fans. Zidane had long been regarded as the leading candidate to manage France and had patiently waited for the opportunity since leaving Real Madrid in 2021. His appointment represents the fulfilment of a career ambition that has been widely discussed across European football. Rather than returning to club management, Zidane chose to remain available for the national team role, reinforcing his commitment to leading the country he helped make world champions as a player. The French Football Federation’s decision reflects confidence in Zidane’s proven leadership, tactical intelligence and ability to manage elite footballers on the biggest stages. End of the Didier Deschamps Era Didier Deschamps officially leaves the position after serving as France head coach since 2012. During his tenure, France consistently ranked among the world’s elite national teams, highlighted by winning the 2018 FIFA World Cup and reaching multiple major tournament finals. His final tournament concluded earlier this month, with France finishing fourth at the World Cup. Although the result fell short of expectations, Deschamps departs after establishing an enduring legacy built on consistency, discipline and international success. Interestingly, Deschamps and Zidane share one of French football’s greatest achievements. Both were teammates in France’s historic 1998 FIFA World Cup-winning squad, making this transition symbolic as one World Cup champion hands responsibility to another. Why Zidane’s Appointment Could Transform French Football Zidane arrives with one of the most impressive managerial resumes in modern football despite spending relatively few years in coaching. During his time at Real Madrid, he guided the Spanish giants to multiple major honours and demonstrated an exceptional ability to handle high-pressure situations while managing some of football’s biggest personalities. His experience working with world-class talent is expected to benefit France’s current generation of international stars. Supporters and analysts alike will closely watch how Zidane reshapes the squad, develops younger players and prepares the team for upcoming international competitions. The appointment also creates renewed optimism among French supporters, who believe Zidane’s winning mentality and calm leadership could inspire another successful era. What Comes Next for France With Zinedine Zidane Appointed France Coach, expectations will immediately rise. France possesses one of the deepest talent pools in world football, and supporters will expect the new manager to challenge for every major international trophy. The transition from Deschamps to Zidane represents more than a managerial change. It is a passing of the torch between two icons who have shaped French football both as players and leaders. Whether Zidane can replicate his club success on the international stage will become one of football’s most closely watched stories in the coming years.

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Listed Firms Face Daily Penalties for Missing Shariah Reporting in FY26 Statements

Web Desk / July 28, 2026

The Pakistan Stock Exchange (PSX) has directed 449 listed companies whose nature of business has been identified as Shariah-compliant to ensure full compliance with mandatory Shariah disclosure requirements in their half-yearly and annual financial statements. Shariah Disclosure Requirements for FY26 Financial Statements In Notice PSX/N-939 issued on July 27, 2026, the exchange said the requirements under Clauses 5.6.9A and 5A.13(e)(ii) of the PSX Regulations will apply to the financial statements for the periods ended June 30, 2026 and September 30, 2026, as applicable. The notice is a continuation of earlier directives issued in November 2025, December 2025 and January 2026. It reiterates that companies must also follow the clarification issued through PSX Notice No. PSX/N-435 dated April 17, 2026 to maintain uniformity, comparability and consistency in disclosures. 449 Listed Companies Covered by the Directive PSX has attached the latest list of companies as Annexure A. The same list is available on the exchange’s website under listed companies data. Companies whose business nature is marked “Compliant” are required to make the disclosures; those marked “Non-Compliant” fall outside the mandatory reporting net. Daily Penalties for Non-Compliance Failure to comply will attract a fine of Rs100,000, with an additional Rs2,000 charged for every day the non-compliance continues. The move is aimed at strengthening transparency around Shariah-related information for investors and market participants. The list covers a wide range of sectors including textiles, cement, sugar, chemicals, engineering, energy, food and pharmaceuticals, while conventional banks, insurance companies and certain financial institutions appear in the non-compliant category. Impact on Listed Companies and Investors Companies on the compliant list have been advised to ensure meticulous adherence to the prescribed disclosure format in the upcoming reporting cycle.

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Ufone e& Rebranding Faces Government Scrutiny as Legal Questions Stall Telecom Merger Plan

Web Desk / July 27, 2026

Pakistan’s telecom sector is witnessing fresh uncertainty as the proposed Ufone e& Rebranding initiative has reportedly encountered resistance from the federal government. What was expected to become the next major milestone following the merger of Ufone and Telenor Pakistan has instead evolved into a legal and governance controversy that could significantly delay one of the country’s largest telecommunications integrations. According to informed sources, the government has intervened after concerns emerged over whether the Ufone Board of Directors had the legal authority to approve replacing the long-established Ufone identity with the global “e&” brand before the merger process is legally completed. The development has also triggered wider debate over corporate governance standards, board accountability and the future identity of a strategically important national telecom operator. Why the Ufone e& Rebranding Is Facing Government Review The proposed Ufone e& Rebranding was approved by the Ufone board following the integration process initiated after Pakistan Telecommunication Company Limited (PTCL) acquired Telenor Pakistan. The merger is expected to create one of Pakistan’s largest mobile network operators with millions of subscribers nationwide. However, the approval reportedly raised concerns at the highest levels of government because the PTCL Board had previously deferred the same proposal. The contrasting decisions between the parent company and its subsidiary have prompted officials to question whether the subsidiary board possessed the authority to approve such a significant corporate identity change independently. Government officials are now considering seeking a formal legal opinion from the Law Division before allowing the branding exercise to proceed. Until that opinion is received, the entire rebranding initiative may remain suspended. Legal Authority Becomes the Centre of the Debate At the heart of the controversy lies a critical legal question. Officials are examining whether the board of a subsidiary company can legally approve the branding of a merged organisation before all regulatory, corporate and legal requirements governing the amalgamation have been fully completed. Legal experts believe the outcome could establish an important precedent for future mergers involving state-owned enterprises and regulated industries. If authorities determine that the board exceeded its powers, the branding exercise could require fresh approvals from higher corporate and regulatory forums. Governance Questions Put State-Owned Enterprise Boards Under Pressure The controversy has expanded beyond branding into a broader discussion about governance within Pakistan’s state-owned enterprises. Critics argue that board members responsible for overseeing strategic national assets must exercise greater caution before approving decisions with long-term commercial and national implications. The issue has attracted particular attention because the board includes government-appointed directors, including senior federal secretaries and a sitting senator. The debate has intensified public scrutiny over whether sufficient legal due diligence was conducted before approving the proposed corporate identity. The matter has also revived discussion regarding accountability mechanisms for government-nominated directors serving on public-sector company boards, particularly given reports that some directors receive compensation of up to USD 5,000 per board meeting. Removal of “Pakistan” from the Brand Raises Strategic Concerns One of the most sensitive aspects of the proposed Ufone e& Rebranding is the replacement of a well-established Pakistani telecom identity with an international corporate brand. Government circles have reportedly expressed concern that removing the word “Pakistan” from the identity of one of the country’s most significant telecommunications operators may carry symbolic as well as strategic implications. Brand identity plays a vital role in customer trust, national recognition and market positioning. Any decision affecting a telecom company serving millions of Pakistani consumers is therefore expected to undergo comprehensive legal and policy review. PTA Approval Came With Important Conditions The Pakistan Telecommunication Authority (PTA) had earlier approved the proposed brand name through a letter dated 16 June 2026. However, the regulator attached clear conditions to its approval. The authority directed the company to formally notify the regulator only after the legal completion of the merger and before launching any commercial branding or marketing campaign under the “e&” identity. In a subsequent communication dated 2 July, the PTA reiterated that notification must follow the lawful completion of the amalgamation process before any public rollout of the new brand. These conditions indicate that regulatory approval alone does not automatically permit the immediate commercial use of the new identity. What Happens Next? The future of the Ufone e& Rebranding now depends largely on the government’s legal review. If the Law Division determines that the board acted within its authority, the branding exercise could proceed after completing all remaining merger formalities. If not, the proposal may require reconsideration by PTCL, regulators and other relevant authorities. For Pakistan’s telecom industry, the outcome will extend beyond a simple name change. It will influence how major corporate restructurings, state-owned enterprise governance and regulatory approvals are handled in future strategic transactions. As one of the country’s most significant telecom mergers enters its final stages, the branding dispute has become a test case for legal compliance, corporate governance and public accountability. The proposed Ufone e& Rebranding has evolved from a marketing decision into a significant legal and governance issue with implications for Pakistan’s telecom sector. While the merger between Ufone and Telenor Pakistan promises to reshape industry competition, the government’s intervention highlights the importance of regulatory compliance, transparent decision-making and protecting strategic national interests before implementing transformative corporate changes.

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Groundbreaking Ceremony Held for Pakistan’s Tallest Building in Karachi

Press Release / July 26, 2026

KARACHI (July 25, 2016): Burj Quaid (Private) Limited has officially performed the groundbreaking ceremony for Pakistan’s tallest building, located in DHA City Karachi. This state-of-the-art development features twin towers designed to offer a comprehensive residential, commercial, and recreational lifestyle, fully aligned with the premium standards of DHA City. The complex will house a world-class shopping mall, a five-star hotel, luxury residences, and a modern Business & Communication Hub. A prestigious ceremony was hosted at the DHA Karachi Golf Club to formally announce the 941-foot-tall landmark. Approved by the Civil Aviation Authority (CAA), the 82-story project will hold the title of Pakistan’s tallest building upon completion. Construction work is set to commence shortly, with a target completion timeframe of six years. Economic Impact and Job Opportunities Symbol of National Progress: This project is far more than a skyscraper—it represents an emerging Pakistan, renewed national confidence, and a new era of investment. It aims to connect Pakistan with the global business community, paving the way for new trade partnerships and economic stability. Employment Generation: The development will create thousands of direct and indirect jobs across construction, retail, hospitality, and allied industries. Furthermore, it is expected to boost local and foreign direct investment, unlocking new avenues for international business. Connectivity and Future Vision The recently operationalized Shahrah-e-Bhutto has significantly reduced travel time from Clifton to DHA City Karachi, greatly boosting its investment appeal. The arrival of such an iconic project into the smart, sustainable, and future-oriented ecosystem of DHA City Karachi is a highly welcome milestone.

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Pakistan Railways Hits Record Rs115bn Revenue; Ml-1, Thar Link Called Vital For Growth

Web Desk / July 25, 2026

Record Financial Turnaround Pakistan Railways has recorded its highest-ever annual revenue of Rs115.157 billion in financial year 2025-26, marking a 24% rise from the previous year, while the minister for railways underlined that ML-1, ML-3 and the Thar coal connectivity projects remain critical for the organisation’s sustained growth. Briefing the federal cabinet, Minister for Railways Hanif Abbasi said the state-run entity would continue modernising infrastructure, strengthening regional connectivity, improving passenger and freight services, and accelerating digital transformation. Prime Minister Shehbaz Sharif expressed satisfaction over the financial turnaround and asked the minister to share details with the cabinet. Revenue rose to Rs115,157 million in FY26 from Rs92,728 million in FY25 and Rs80,732 million in FY24, reflecting a 42% increase over two years. Freight earnings reached Rs40,783 million, passenger earnings stood at Rs50,590 million, and sundry earnings climbed to Rs16,401 million. Income from property and land jumped from Rs5,022 million to Rs11,956 million, driven by better commercial use of railway assets. The cumulative operating surplus improved sharply from 1% in FY24 to 4% in FY25 and further to 15% in FY26. Abbasi attributed the gains to a focused strategy covering financial sustainability, stronger governance, public-private partnerships and digitalisation of processes. These reforms, he said, had restored commercial viability, improved operational efficiency and modernised service delivery. Key Projects For Future Growth The minister told the meeting that the implementation of ML-1, ML-3 and Thar coal rail link projects is essential for the long-term growth of Pakistan Railways. The cabinet appreciated the efforts of the railways minister and his team under the prime minister’s guidance. Officials noted that the broad-based growth across freight, passenger and commercial streams signals a more stable financial base for the organisation. Continued progress on the major infrastructure projects will be needed to lock in these gains and expand the railways’ role in trade facilitation and regional integration. The minister reaffirmed the resolve to build on the recent improvements and raise the contribution of Pakistan Railways to national economic growth. Key Messages from the Report:

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SBP Appoints 10 Primary Dealers For FY2026-27 As Govt Relies On Domestic Borrowing

Web Desk / July 25, 2026

The SBP Primary Dealers for fiscal year 2026-27 have been announced, with the State Bank of Pakistan (SBP) appointing 10 financial institutions and two Special Purpose Primary Dealers (SPDs) to facilitate the government’s domestic borrowing programme. The appointments underscore the critical role commercial banks and financial institutions play in financing Pakistan’s fiscal deficit through the domestic debt market. According to a notification issued by the central bank on Thursday, United Bank Limited (UBL), National Bank of Pakistan (NBP) and Bank Alfalah emerged as the top three performing Primary Dealers during FY2025-26 based on their overall performance in the government securities market. The appointments come at a time when the federal government continues to rely heavily on domestic borrowing to meet its financing requirements, making Primary Dealers essential participants in the issuance, distribution and trading of government debt instruments. SBP Names 10 Primary Dealers After evaluating applications submitted under the Primary Dealer System Rules, the SBP selected the following institutions as Primary Dealers (PDs) for FY2026-27: In addition, the Central Depository Company of Pakistan Limited (CDC) and the National Clearing Company of Pakistan Limited (NCCPL) have been appointed as Special Purpose Primary Dealers (SPDs) for the new fiscal year. The SBP said the appointments were made after assessing applications against the eligibility criteria outlined in the Primary Dealer System Rules. UBL, NBP And Bank Alfalah Lead Performance Rankings The central bank recognised UBL, NBP, and Bank Alfalah as the best-performing Primary Dealers during FY2025-26. According to the notification, these three institutions achieved the highest overall performance among participating dealers in supporting the government’s domestic debt programme. The SBP added that detailed performance rankings of the remaining Primary Dealers and Special Purpose Primary Dealers will be communicated individually to the respective institutions. Key Role In Government Borrowing Primary Dealers play a central role in Pakistan’s financial system by acting as intermediaries between the government and investors in the domestic debt market. They participate in auctions conducted by the State Bank of Pakistan for Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs), enabling the government to raise funds for budgetary financing. Beyond participating in auctions, Primary Dealers also help distribute government securities among banks, financial institutions and other investors while supporting liquidity in the secondary market. Their active participation contributes to efficient price discovery and ensures that government securities remain tradable after issuance. Supporting Pakistan’s Debt Market The government’s growing reliance on domestic borrowing has increased the importance of the SBP Primary Dealers system. As Pakistan finances a significant portion of its fiscal deficit through Treasury Bills and long-term Pakistan Investment Bonds, Primary Dealers serve as the backbone of the domestic debt market. By purchasing government securities during auctions and facilitating their subsequent trading, these institutions help maintain liquidity and investor confidence in the market. Financial analysts note that an efficient Primary Dealer network strengthens the government’s ability to secure financing at competitive market rates while ensuring the smooth functioning of Pakistan’s debt market. Selection Made Under SBP Rules The appointments were made under the Primary Dealer System Rules issued through DMMD Circular No. 07, dated April 12, 2021. Earlier this year, the SBP invited applications for the appointment of Primary Dealers (PDs), Prospective Primary Dealers (PPDs) and Special Purpose Primary Dealers (SPDs) for FY2026-27 through a circular issued on May 7, 2026. Following a comprehensive evaluation process, the central bank finalised the appointments based on prescribed eligibility requirements and performance criteria. Broad Representation Across Financial Sector The latest list of Primary Dealers reflects broad participation from Pakistan’s banking and financial services industry. The selected institutions include large commercial banks, an investment company, an international bank operating in Pakistan, and two major financial market infrastructure organisations. The inclusion of the Central Depository Company (CDC) and the National Clearing Company of Pakistan Limited (NCCPL) as Special Purpose Primary Dealers highlights the growing importance of financial market infrastructure in supporting the government’s debt management framework. Why Primary Dealers Matter Primary Dealers perform several important functions in Pakistan’s government securities market. They participate directly in government debt auctions, ensuring sufficient demand for Treasury Bills and Pakistan Investment Bonds. They also facilitate the distribution of these securities to institutional investors and support trading in the secondary market, helping maintain market liquidity. Their role is particularly significant at a time when the government continues to depend on domestic borrowing as a major source of budget financing. An active and competitive network of SBP Primary Dealers enables the government to mobilise funds efficiently while promoting transparency, liquidity and stability in Pakistan’s domestic debt market.

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Pakistan SPI Inflation Rises 0.91% as Tomato and Fuel Prices Push Up Cost of Living

Web Desk / July 24, 2026

Pakistan SPI Inflation Climbs on Higher Food and Energy Costs Pakistan’s SPI inflation increased by 0.91% during the week ending July 23, 2026, as sharp increases in tomato and fuel prices added further pressure on household budgets, according to the latest figures released by the Pakistan Bureau of Statistics (PBS). On a year-on-year (YoY) basis, the Sensitive Price Indicator (SPI) rose 9.66%, reflecting continued inflationary pressures across food, energy and essential consumer goods. The SPI is a weekly inflation gauge that tracks the prices of 51 essential commodities across 50 markets in 17 cities, providing policymakers with an early indication of changes in the cost of living. Tomato and Fuel Prices Lead Weekly SPI Inflation The biggest contributor to this week’s increase was the sharp rise in tomato prices, which surged 39.92% compared with the previous week. Fuel prices also recorded significant increases following recent adjustments in petroleum prices. Major Weekly Price Increases Higher fuel costs have also increased transportation and distribution expenses, contributing to price pressures across several food categories. Some Essential Commodities Became Cheaper Despite the overall increase in inflation, a number of essential food items recorded weekly price declines. Weekly Price Decreases These declines helped offset part of the increase caused by vegetables and petroleum products but were not enough to prevent overall weekly inflation from rising. Prices Increased for Nearly Half of Essential Items According to PBS data, price movements remained mixed across the basket of 51 commodities monitored under the SPI. Weekly Breakdown The data indicates that inflationary pressure remains broad-based, although price stability continued for a significant portion of essential goods. Annual SPI Inflation Remains Elevated Compared with the same week last year, SPI inflation increased 9.66%, driven largely by higher food, fuel and utility costs. Biggest Annual Price Increases Seasonal supply shortages continued to drive tomato prices sharply higher, while fuel and electricity costs added to transportation and production expenses. Several Commodities Were Cheaper Than a Year Ago Not all items recorded annual increases. Several staples were less expensive compared with the corresponding week of last year. Largest Annual Price Declines While these declines provided some relief, they were outweighed by substantial increases in vegetables, fuel and utility-related items. Urea and Cement Prices Continue to Increase PBS also reported higher prices for key agricultural and construction inputs during the week. The average price of Sona Urea increased to Rs4,655 per 50-kilogram bag, up 0.38% from the previous week and 5.44% higher than a year earlier. Meanwhile, the average price of cement rose to Rs1,536 per 50-kilogram bag, representing a 0.95% weekly increase and a 9.21% annual rise. Higher input costs may place additional pressure on farming, construction activity and broader inflation in the coming months. SPI Inflation Remains a Key Economic Indicator The Sensitive Price Indicator (SPI) remains one of Pakistan’s most closely watched measures of short-term inflation, offering timely insights into changes in food, fuel and household commodity prices. The latest figures suggest that rising petroleum prices and seasonal food supply constraints continue to drive inflationary pressures. Policymakers will be closely monitoring future SPI readings as they assess inflation trends and consider measures to support price stability while protecting household purchasing power.

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Pakistan Petroleum Dealers Strike Called Off After Government Assurance as 15-Day Deadline Begins

Web Desk / July 23, 2026

Pakistan has avoided a nationwide fuel supply disruption after the Pakistan Petroleum Dealers Strike was called off following successful negotiations between the federal government and the Pakistan Petroleum Dealers Association (PPDA). The decision has brought immediate relief to consumers, transport operators, businesses, and industries that were preparing for a 24-hour closure of petrol pumps across the country. While the strike has been withdrawn for now, petroleum dealers have warned that the dispute remains unresolved. They have given the government 15 days to fulfill its commitments, cautioning that failure to address their demands could trigger another nationwide protest. Pakistan Petroleum Dealers Strike Called Off After Emergency Negotiations The Pakistan Petroleum Dealers Association had earlier announced that fuel stations nationwide would remain closed from 6:00 a.m. Thursday to 6:00 a.m. Friday, raising concerns over fuel shortages, panic buying, and disruptions to transportation and commercial activities. However, emergency talks held in Islamabad resulted in a breakthrough, prompting the association to withdraw the strike. PPDA Vice Chairman Tariq Hassan said the decision was made after the government assured petroleum dealers that their concerns would be addressed within the next 15 days. According to the association, officials pledged to work on resolving several long-standing issues affecting fuel retailers. Petroleum Dealers Oppose Daily Fuel Price Mechanism Although the immediate crisis has been averted, petroleum dealers continue to oppose the government’s proposed daily fuel price adjustment mechanism. During a press conference in Karachi before the negotiations, PPDA leaders, including Chief Adviser Malik Khudabakhsh, Vice Chairman Tariq Hassan, Sindh President Haji Amir Khan, Saeed Khan, and Anwar Kamal, argued that daily price revisions would create uncertainty for fuel retailers and complicate business operations. The association has instead called for retaining the existing monthly fuel price review system, saying it provides greater stability for both dealers and consumers. Dealers Demand Higher Margins and Policy Reforms A key issue raised during the talks was the dealer margin, which petroleum dealers say has remained unchanged despite rising inflation and increasing operational costs. The PPDA is demanding that dealer commissions be increased to 8 percent, arguing that the current margin is no longer sufficient to sustain fuel retail businesses after nearly two years without revision. The association also called for reforms in fuel allocation policies implemented by oil marketing companies and stressed the importance of ensuring uninterrupted petroleum supplies across the country. Digital Payment Charges Among Key Concerns Another major demand relates to digital payment costs. Petroleum dealers have requested permission to recover bank and point-of-sale (POS) transaction charges from customers who pay using debit or credit cards. They argue that absorbing these banking charges has become an additional financial burden for fuel retailers. The association believes revising this policy would help improve the financial viability of petrol pumps while supporting the continued expansion of digital payment systems. Government Given 15 Days to Deliver Although the strike has been suspended, the PPDA has made it clear that the government’s assurances must now be backed by practical action. The association has warned that if meaningful progress is not achieved within the agreed 15-day period, it will review its options, including the possibility of announcing another nationwide strike. Why the Issue Matters Pakistan’s petroleum retail sector is a vital part of the country’s economy, with fuel availability directly affecting transportation, logistics, manufacturing, agriculture, and daily commuting. While the immediate threat of a nationwide shutdown has been avoided, the negotiations have highlighted broader concerns over fuel pricing policies, dealer profitability, and supply chain management. The coming weeks will determine whether the government can implement the promised reforms and prevent further disruptions to Pakistan’s fuel distribution network.

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UBL Profit Rises 33% In First Half As Deposits Reach Record Rs6.1 Trillion

Web Desk / July 22, 2026

UBL Reports Strong Earnings Growth In First Half Of 2026 United Bank Limited (UBL) posted a strong financial performance during the first half of 2026, reporting a 33 percent year-on-year increase in consolidated profit after tax as customer deposits climbed to an all-time high of Rs6.1 trillion. The results highlight the bank’s continued balance sheet expansion despite a challenging interest rate environment. UBL reported a consolidated profit after tax of Rs85.9 billion for the six-month period ended June 30, 2026, translating into earnings per share (EPS) of Rs34.30. During the second quarter alone, the bank earned Rs37.5 billion, with EPS of Rs14.97, representing a 31 percent increase compared with the same period last year, although quarterly earnings declined from the previous quarter. Deposits Climb To Historic High One of the biggest highlights of the financial results was the sharp increase in customer deposits. UBL’s deposits surged to a record Rs6.1 trillion, reflecting a 43 percent increase compared with the same period last year and a 13 percent rise over the previous quarter. The strong deposit growth reinforces the bank’s funding base and strengthens its liquidity position in an increasingly competitive banking sector. Net Interest Income Remains Resilient Despite lower interest rates and gains realized from its investment portfolio, UBL maintained stable earnings from its core banking operations. Net interest income (NII) for the second quarter stood at Rs90.3 billion, marginally lower than the previous year and quarter. However, for the first six months of 2026, NII increased 8 percent year-on-year to Rs189.7 billion, demonstrating resilience in the bank’s core income generation. Higher Operating Expenses Reflect Expansion Strategy Operating expenses increased during the reporting period as the bank continued investing in business growth. UBL’s operating costs rose 35 percent year-on-year and 19 percent quarter-on-quarter to Rs48.4 billion. The increase was primarily attributed to branch network expansion and higher marketing expenditures aimed at attracting new deposits and strengthening customer acquisition. The bank’s cost-to-income ratio stood at 40 percent during the second quarter, compared with 33 percent in the same quarter last year. For the first half of 2026, the ratio was reported at 34 percent. Tax Rate Remains Stable UBL’s effective tax rate remained unchanged at 52 percent during the second quarter of 2026. Despite higher taxation, the bank delivered strong profitability, supported by balance sheet growth, improved deposits, and steady income generation across its operations. Strong Deposit Growth Supports Future Expansion The latest financial results underline UBL’s continued growth momentum, with record deposits providing a stronger foundation for future lending and business expansion. While higher operating costs affected efficiency during the quarter, the bank’s robust earnings growth and expanding deposit base position it well to navigate changing market conditions and pursue further growth opportunities in Pakistan’s banking sector.

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