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Left Behind DG Cement Announce to Expand Into a Crowded Market
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Left Behind DG Cement Announce to Expand Into a Crowded Market

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D.G. Khan Cement is adding a giant kiln at a difficult moment for Pakistan’s cement industry. Plants across the country already have more capacity than the market can fully absorb, yet producers continue to announce new investments. In FY2025-26, cement dispatches stood at about 50.5 million tonnes, while industry utilisation remained near 59%. With kilns operating well below full capacity, the decision by D.G. Khan Cement to expand raises an obvious question: why add more capacity to an already crowded market? For DG Khan Cement, however, the answer is rooted in a long-term loss of market share. The Cost of Standing Still In 2008, D.G. Khan Cement accounted for roughly 21% of industry net sales. By 2025, its share had fallen to around 8%. The company continued operating plants at Dera Ghazi Khan, Khairpur and Hub. Its Hub facility also provided export flexibility when domestic demand weakened. What the company did not do at the same pace as competitors was add significant new capacity. That decision came with a cost. In the cement industry, excess capacity across the market is a challenge. But for an individual producer, insufficient capacity can be an even bigger problem. Competitors add production lines, expand their dealer networks and capture market share. Once customers shift to other suppliers, winning them back can require significant spending and time. For DG Khan Cement, expansion is therefore not simply about chasing industry growth. It is also about rebuilding scale after years of falling behind competitors. A Record Line in an Oversupplied Industry The company is now responding with Pakistan’s largest single clinker line: an 11,000-tonne-per-day facility at its Dera Ghazi Khan site. The brownfield project is expected to cost around Rs45 billion and could take the group’s overall capacity towards 10 million tonnes annually. On paper, the project represents a catch-up strategy. In practice, it enters a market that has yet to absorb capacity added during the previous expansion cycle. Other cement groups are also adding production capacity, creating a clear contradiction in the industry. Plants are operating at roughly half capacity, yet companies continue to invest in new lines. The internal logic for DG Khan Cement is straightforward. Waiting for industry utilisation to improve before expanding could allow competitors to widen their lead. Building now carries the opposite risk: the company could end up with additional clinker capacity before demand has caught up. That leaves the investment dependent on a combination of domestic demand growth, exports and competitive changes within the industry. Who Pays If the Bet Goes Wrong? The risk profile is different from sectors where excess capacity can ultimately become a burden on the public sector. DG Khan Cement is committing its own balance sheet to the project, including debt financing. The new kiln therefore has to generate sufficient returns for shareholders and meet its financing obligations. But private investment does not eliminate the broader market implications. If several producers continue adding capacity while demand remains weak, competition could intensify. Lower utilisation and weaker cement prices could put pressure on margins, particularly for companies carrying substantial financing costs. Over time, weaker producers could face greater financial stress or be forced to rationalise capacity. For DG Khan Cement, the immediate issue is more specific. After years of losing market share, the company has chosen to expand rather than remain smaller in an industry where scale matters. A Bigger Bet on Scale The 11,000-tonne-per-day clinker line is therefore more than another capacity announcement. It represents DG Khan Cement’s attempt to reverse a long decline in market share and restore its competitive position. The challenge is that it is making that bet while Pakistan’s cement industry continues to carry substantial surplus capacity. The project will ultimately be judged not by the size of the kiln, but by whether the additional capacity can generate sustainable volumes and returns. For DG Khan Cement, the choice is between the risk of investing in a crowded market and the longer-term risk of allowing competitors to keep taking its share.

Daraz Pakistan and Getz Pharma Partner to Broaden Consumer Healthcare Offering on Daraz E-Pharmacy
Business

Daraz Pakistan and Getz Pharma Partner to Broaden Consumer Healthcare Offering on Daraz E-Pharmacy

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[Karachi, September 23, 2026]: Daraz Pakistan and Getz Pharma have signed a strategic partnership agreement to broaden the selection of consumer healthcare and wellness products available through Daraz and develop a stronger digital presence for the category. The agreement was signed at Getz Pharma’s Head Office in Karachi. The collaboration will see the two companies work across product selection, digital merchandising, brand-led campaigns and customer offers, with the objective of making Getz Pharma’s consumer healthcare and wellness portfolio easier to discover and purchase through Daraz. Both companies will also work together on improving how the portfolio is presented online, from expanding the assortment available to customers to developing more relevant campaign and shopping experiences around health and wellness needs. The partnership comes as Daraz builds out its recently launched e-pharmacy, adding a dedicated healthcare proposition to a platform already used by customers for a wide range of everyday purchases. Introduced in August, the e-pharmacy launched with more than 450 products from over 20 pharmaceutical and healthcare brands, spanning OTC medicines, vitamins, supplements and other health-related products. The service operates through Daraz’s licensed pharmacy facility, creating a structured online channel for the purchase and fulfilment of eligible healthcare products. Getz Pharma is already among the healthcare companies represented within the e-pharmacy assortment. The new agreement creates a framework for the two companies to build on that presence more systematically, including by introducing a wider selection of relevant products, improving their visibility across the platform and developing campaigns around different consumer health and wellness requirements. For Daraz, the partnership forms part of the next phase of developing its healthcare category beyond the initial launch of the e-pharmacy. This includes working more closely with pharmaceutical and healthcare companies on assortment planning, product availability and digital category development, while using the platform’s existing commerce infrastructure to make health and wellness shopping a more integrated part of the customer experience. About Daraz Group Daraz is the leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, and Nepal. It empowers sellers and consumers with cutting-edge marketplace technology, targeting a rapidly growing region of 500 million people. By building an integrated infrastructure covering e-commerce, logistics, payment and financial services, the company aims to deliver an immersive, personalized shopping experience and uplift South Asian communities through the power of commerce. For more information, please visit www.daraz.com or follow Daraz on LinkedIn for regular corporate updates. Media Contact ambar.ahmed@daraz.pk

CCP Imposes PKR 10 Million Penalty on 3M Pakistan for Deceptive Marketing of Scotch-Brite
Business

CCP Imposes PKR 10 Million Penalty on 3M Pakistan for Deceptive Marketing of Scotch-Brite

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ISLAMABAD, 2026: The Competition Commission of Pakistan (CCP) has imposed a penalty of PKR 10 million on M/s 3M Pakistan (Private) Limited for deceptive marketing through a false or misleading comparison of its Scotch-Brite product with Colgate-Palmolive Pakistan Limited’s Max Scrub, in violation of Section 10 of the Competition Act, 2010. Complaint Leads to CCP Proceedings The proceedings originated from a complaint filed by Colgate-Palmolive Pakistan Limited, alleging that during a marketing campaign for Scotch-Brite, a video showed a comparison in which, after washing Scotch-Brite and Max Scrub for 20 minutes, Max Scrub was shown to have deteriorated significantly while Scotch-Brite remained in comparatively better condition. 3M Pakistan Challenges Authenticity of Comparison Video Following an enquiry, CCP issued a Show Cause Notice to 3M Pakistan. The company challenged the authenticity and reliability of the video and maintained that the demonstration was carried out by an employee in his personal capacity without company authorisation. CCP Attributes Demonstration to 3M Pakistan The Commission, however, found that Muhammad Imran, then Regional Sales Manager of 3M Pakistan, had acknowledged before the Enquiry Committee that he made the comparison. As the demonstration was closely connected with his official duties and occurred in the context of a marketing campaign commissioned by 3M Pakistan, the Commission held that his conduct was attributable to the company. Commission Finds Comparison Lacked Substantiation The Commission held that a comparison of competing products made without a reasonable basis or recognisable substantiation may constitute false or misleading advertising. The Order found that 3M Pakistan failed to substantiate the comparison. It also considered a third-party laboratory report submitted by the complainant, which concluded after testing that the two products were of similar quality and was not rebutted by 3M during the proceedings. CCP Rejects Advertising Defence The Commission also rejected 3M’s contention that the demonstration did not constitute advertising because it was shown to third-party channel partners rather than directly to consumers, noting that these partners were engaged to promote Scotch-Brite, increase its market visibility and enhance sales. PKR 10 Million Penalty Imposed Accordingly, the Commission imposed a penalty of PKR 10 million on 3M Pakistan for violation of Section 10(1) read with Section 10(2)(c) for false or misleading comparison of goods in the process of advertising. While determining the penalty, the Commission took into account the seriousness of the infringement and the need to deter deceptive marketing practices. 3M Pakistan Directed to Submit Compliance Report 3M Pakistan has also been directed to refrain from repeating the same or similar conduct concerning Max Scrub or any other undertaking’s comparable product and to submit a compliance report regarding payment of the penalty within 60 days. Failure to comply will attract an additional penalty of PKR 50,000 per day from the date of the Order.

Fauji Fertilizer Company's (FFC) DAP Share Falls to ~72% Amid Ongoing Supply Disruptions
Business

Fauji Fertilizer Company’s (FFC) DAP Share Falls to ~72% Amid Ongoing Supply Disruptions

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FFC’s grip on the DAP market loosened in August 2026. Its share dropped to about 72 percent, down roughly ten points from a year earlier, as phosphoric acid prices climbed and supply stayed tight. High input costs and regional tensions continue to weigh on phosphatic fertilizers. That pressure is now showing up clearly in monthly offtake numbers. Demand Remains Compressed Across Products Urea offtake fell 14 percent year on year to 701,000 tons, even after a 21 percent rise from July. DAP volumes slipped 8 percent to 126,000 tons, as per Optimus Capital Management. NP demand was hit hardest, dropping 49 percent to just 42,000 tons. CAN offtake was almost flat, down 3 percent. Farmers are still holding back. Elevated bag prices have kept buying cautious through the Kharif season. Prices Rise Again in August DAP prices increased about 2 percent month on month to PKR 16,480 per bag. NP followed with a similar gain to PKR 10,318. Urea and CAN each rose around 1 percent, reaching PKR 4,679 and PKR 4,319 per bag. Prices are likely to stay high until tensions in the Middle East ease. Share Shifts in Urea and DAP Engro Fertilizers took about 47 percent of the urea market in August by running down accumulated stocks. FFC’s urea volumes fell 30 percent year on year. In DAP, FFC still leads but lost ground. Engro more than doubled its DAP offtake from a low base, while other suppliers also gained share. Fatima remains the main supplier of CAN and NP, though both products saw weaker volumes. Inventories and Full-Year Outlook Closing urea stocks stood at about 709,000 tons, down 22 percent from July. DAP inventory was little changed at 253,000 tons. Full-year urea demand is expected near 6.4 million tons and DAP near 1.2 million tons, assuming production stays steady. Import risks for fertilizer and RLNG remain the main threat to that outlook.

Provinces Want Equal Seats in Oil Gas Regulator
Business

Provinces Want Equal Seats in Oil Gas Regulator

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Pakistan’s four provinces have pushed back against a federal proposal that would keep them out of day-to-day administration of the oil and gas sector, arguing that shared ownership of hydrocarbons requires a role in their regulation and management. The federal government has circulated a summary to the Council of Common Interests (CCI) proposing that provinces be excluded from routine administrative matters in the hydrocarbon sector. The proposal was shared with the finance, planning and law ministries, the Cabinet Division, the attorney general, and all four provincial governments. Their responses show a common concern: oil and gas administration should not become an exclusively federal matter. Punjab Seeks Provincial Representation In OGRA Punjab offered partial support for the federal position, saying regulators should operate independently under existing laws and policies. At the same time, Punjab proposed a specific form of provincial representation. It called for every province to have a seat on the Oil and Gas Regulatory Authority (OGRA), alongside federal members. Punjab further proposed that if a province objects to a regulatory or administrative decision, the dispute should be referred to the CCI. Sindh Cites Joint Ownership Under Article 172(3) Sindh opposed the proposal to exclude provinces from oil and gas administration. The province referred to Article 172(3) of the Constitution, under which oil and gas located within a province, as well as resources in its adjacent territorial waters, vest jointly and equally in the federation and that province. Based on this provision, Sindh argued that provinces function as co-licensors in the sector. It maintained that management of companies operating in the oil and gas sector should therefore involve both the federal and provincial governments rather than being controlled solely by the centre. Sindh also argued that such matters do not necessarily have to be referred to the CCI in every instance. KP Calls For Equal Provincial Say Khyber Pakhtunkhwa took a stronger position against excluding provinces from decision-making. The province acknowledged Parliament’s legislative authority but argued that this power cannot be exercised in a manner inconsistent with the spirit of Article 172(3). KP maintained that provinces have an equal say in decisions concerning these jointly owned resources. It further argued that the federal government should act as a fiduciary for provincial rights rather than as an absolute owner of oil and gas resources. Balochistan Defends CCI Role Balochistan also opposed removing the CCI from administrative matters concerning the sector. The province cited Articles 154, 156 and 172(3) of the Constitution, read with Entry 2 of the Fourth Schedule, arguing that these provisions establish a stronger supervisory role for the CCI over mineral oil and natural gas. Balochistan proposed that policy decisions and amendments should be approved through the CCI, while the regulator should subsequently decide individual cases within guidelines established by the council. CCI To Consider Provincial Role In Oil And Gas The responses from the four provinces place provincial representation and the role of the CCI at the centre of the debate over Pakistan’s hydrocarbon administration. The issue extends beyond the structure of the regulator. How provincial representation is established, and how routine regulatory decisions are handled, will determine how the constitutional concept of joint and equal ownership of oil and gas operates in practice.

CCP Imposes PKR 60 Million Penalty On Edible Oil Tanker Owners’ Association For Cartelization
Business

CCP Imposes PKR 60 Million Penalty On Edible Oil Tanker Owners’ Association For Cartelization

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The Competition Commission of Pakistan (CCP) has imposed a total penalty of PKR 60 million on the All Pakistan Edible Oil Tanker Owners Association (APEOTOA) for fixing transportation charges and allocating business among tanker owners through a restrictive queue system. The Commission found the practices in violation of Section 4 of the Competition Act, 2010. It imposed PKR 30 million each for price fixing and market allocation. CCP Finds Evidence Of Transportation Rate Fixing The case began after CCP market surveillance detected circulars fixing transportation charges for edible oil, ghee and fats transported from Karachi ports to destinations across Pakistan. The Commission initiated a suo motu enquiry in August 2024 and conducted a search and inspection in February 2025. According to the enquiry findings, material obtained during the search showed that APEOTOA revised transportation rates 89 times between 2019 and 2025. These revisions included 52 increases and 37 decreases. The corresponding circulars issued by the Pakistan Vanaspati Manufacturers Association (PVMA) communicated matching changes in transportation rates. APEOTOA representatives also acknowledged that transport rates were determined through an agreement between the two associations. Commission Rejects ‘Advisory’ Circular Defence APEOTOA argued that its rate circulars were merely advisory and did not legally bind tanker owners. The CCP rejected this position, holding that even non-binding recommendations issued by a trade association can restrict competition if they influence members’ independent commercial decisions. The Commission also relied on the Supreme Court’s judgment in the PVMA case, which affirmed that competing businesses must remain free to determine their prices independently. Queue System Found To Allocate Tanker Business The CCP separately found that APEOTOA operated a queue system that allocated consignments among tanker owners instead of allowing them to compete independently for business. The Association issued parchis for lifting consignments and enforced compliance with the allocation system. A September 2023 circular imposed a PKR 500,000 fine each on a tanker and its owner for violating specified allocation conditions. The Commission determined that the relevant market was road transportation services for edible oil, ghee and fats across Pakistan. Penalty Reflects Duration And Market Position In determining the penalty, the Commission considered several factors, including APEOTOA’s substantial market position and the nearly six-year duration of the pricing conduct. The CCP also considered the involvement of senior management and the continuation of rate revisions even after enforcement proceedings had commenced. Based on these factors, the Commission imposed PKR 30 million for price fixing and another PKR 30 million for market allocation, bringing the total penalty to PKR 60 million. APEOTOA Ordered To End Anti-Competitive Practices Alongside the financial penalty, the CCP directed APEOTOA to immediately cease the anti-competitive practices identified in the proceedings. The Association has also been ordered to recall existing price circulars and discontinue the queue system that had the effect of dividing the market. APEOTOA must publish notices in two Urdu and two English national newspapers clarifying that tanker owners are free to independently determine transportation rates and lift consignments regardless of whether they are members of the Association. 60-Day Compliance Deadline The penalty must be deposited and compliance reported to the Commission within 60 days. Failure to comply may result in an additional penalty of PKR 50,000 per day, along with possible criminal proceedings under Section 38 of the Competition Act, 2010.

Daraz Pakistan Expands Digital Goods Category with Local Brand Vouchers
Business, Editor pick

Daraz Pakistan Expands Digital Goods Category with Local Brand Vouchers

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New Local Vouchers offering allows customers to purchase digital vouchers from a growing range of food, fashion, fitness and lifestyle brands through the Daraz App [Karachi, September 18, 2026]: Daraz Pakistan has expanded its Digital Goods offering with the launch of Local Vouchers, enabling customers to purchase digital vouchers from a growing range of brands directly through the Daraz App. The category currently includes brands such as Smash X, California Pizza, Ndure, Subway, Angeethi, The Good Sub, Tao and Transfit, among others. Launched recently, the new offering gives brands an additional digital channel to reach customers while providing shoppers with a convenient way to purchase vouchers for brands and experiences they use regularly. Over 25 brands have been onboarded so far, with additional names continuing to join the category. Customers can purchase a voucher through the Daraz App and receive a unique redemption code issued by the respective brand. Depending on the terms of the individual voucher, the code can be redeemed on the brand’s website, at participating physical outlets, or across both online and in-store channels. Redemption options and applicable terms are clearly specified for each voucher, allowing customers to select an option that best suits how they intend to use it. The launch builds on Daraz’s growing Digital Goods ecosystem, which brings together a range of everyday digital services within the app. Customers can already use Daraz to pay utility bills, top up mobile balances, purchase gaming and software products, and send Daraz Gift Cards digitally. Utility payments currently represent the largest segment within Digital Goods on Daraz, with customers able to pay bills from major electricity, gas and water providers across Pakistan, including K-Electric, WAPDA, SSGC and HESCO, among others. The platform also offers mobile top-ups across all four major telecommunications operators, Jazz, Zong, Ufone and Telenor, alongside a broad selection of gaming and software products. These include digital products and gift cards for platforms and games such as PlayStation, PUBG and Free Fire, supported by established digital sellers including Steamshop, Soomro Communication and Playless. Daraz has also recently expanded its digital gifting proposition through Daraz Gift Cards, allowing customers to select and customise a gift card amount and send it directly to a recipient digitally. The introduction of Local Vouchers extends this ecosystem beyond traditional digital services by connecting customers with brands across dining, fashion, fitness and other lifestyle categories. For participating brands, the offering provides an additional avenue to distribute prepaid value digitally and reach Daraz’s online customer base, while customers gain convenient access to vouchers through an app they already use for shopping and everyday digital transactions. Daraz plans to continue expanding the Local Vouchers portfolio across additional brands and categories as it develops Digital Goods into a broader destination for convenient and instantly accessible digital products and services. About Daraz Group Daraz is the leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, and Nepal. It empowers sellers and consumers with cutting-edge marketplace technology, targeting a rapidly growing region of 500 million people. By building an integrated infrastructure covering e-commerce, logistics, payment and financial services, the company aims to deliver an immersive, personalized shopping experience and uplift South Asian communities through the power of commerce. For more information, please visit www.daraz.com or follow Daraz on LinkedIn for regular corporate updates. Media Contact ambar.ahmed@daraz.pk

FWO Seeks To Build Multan-Rohri ML-I Track
Business

FWO Seeks To Build Multan-Rohri ML-I Track

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The government has reviewed a Frontier Works Organisation (FWO) proposal to construct the Multan-Rohri section of Pakistan’s Mainline-I (ML-I) railway project at an estimated cost of Rs470 billion. The project would be developed under a build-lease-transfer model, with FWO proposing to arrange most of the financing through local commercial banks. FWO Proposes Local Bank Financing Under the proposed financing structure, FWO would seek to borrow up to 80% of the project cost from local commercial banks. The remaining financing would require federal support of between 20% and 40% in the form of viability gap funding, depending on the final structure approved by the government. Based on the current estimated project cost, the federal grant requirement could range from approximately Rs91 billion to Rs182 billion. How The Build-Lease-Transfer Model Would Work Planning Minister Ahsan Iqbal said the project would not be financed through the Public Sector Development Programme (PSDP). Officials are instead examining alternative grant mechanisms, including the National Economic Initiative, which could potentially involve contributions from provincial governments. Under FWO’s proposal, construction of the Multan-Rohri rail link would be completed within three years. Once completed, Pakistan Railways would lease the track for 25 years. At the end of the lease period, ownership of the railway infrastructure would transfer fully to Pakistan Railways. Debt Repayment Remains Unresolved While the build-lease-transfer structure has received acceptance in principle, key questions surrounding financing remain unresolved. Officials have yet to determine who would ultimately be responsible for repaying the bank loans raised for the project. The government must also decide the size and terms of any sovereign guarantees required to support the financing. Pakistan Railways has been reluctant to assume the entire repayment burden. The Finance Ministry has therefore asked the railway operator to assess how much it could repay from its own resources once the new track becomes operational. Lessons From Earlier ML-I Financing Talks Questions over debt repayment and government guarantees are not new to the ML-I project. Similar concerns emerged during earlier discussions with Chinese lenders. China subsequently declined to finance the complete Mainline-I project after its estimated cost increased to around $10 billion. The latest FWO proposal represents a different financing route, relying primarily on domestic banks and a local contractor rather than external sovereign lending. ADB Loan Under Discussion For Karachi-Rohri Section Pakistan is already negotiating a $1.2 billion loan from the Asian Development Bank for the Karachi-Rohri section of ML-I. That section has an estimated cost of approximately $2.5 billion. For the Multan-Rohri portion, the government is now examining whether a locally financed contractor-and-bank model can provide an alternative way to move the project forward. Government Reviews Future Rail Demand Last month, Prime Minister Shehbaz Sharif directed officials to conduct a comprehensive assessment of Pakistan Railways’ rolling-stock requirements as well as the future passenger and freight potential of the ML-I line. The assessment is expected to help determine the infrastructure and operational requirements associated with the railway upgrade. Financing Structure Still Needs Final Approval A senior official of the Special Investment Facilitation Council said the build-lease-transfer approach had been accepted for the proposed Multan-Rohri project. However, the financing structure has not yet been finalised. The government will need to settle questions surrounding bank debt repayment, federal support, sovereign guarantees and Pakistan Railways’ ability to generate sufficient resources before the Rs470 billion project can move into implementation.

Cereal Association Warns of Wheat Shortage, Demands Immediate Private Sector Import Permission
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Cereal Association Warns of Wheat Shortage, Demands Immediate Private Sector Import Permission

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The Cereal Association of Pakistan (CAP) has urged the Government and the relevant Standing Committee to immediately allow private-sector wheat imports, warning that delays could lead to shortages and further increases in wheat prices across the country. The association’s call comes as the Trading Corporation of Pakistan (TCP) moved to procure wheat internationally, but industry representatives say the government’s planned imports may not be enough to cover national requirements. Government Wheat Import Tender Draws 9 International Companies The TCP opened a tender for the import of 750,000 metric tons of wheat on September 16, 2026. Nine international companies participated in the tender, submitting offers for a combined 656,000 metric tons. The quoted prices ranged from a minimum of $348.83 per metric ton to a maximum of $369.95 per metric ton. CAP acknowledged the government’s efforts to arrange wheat imports through TCP but said the quantity being procured would cover only a portion of Pakistan’s overall requirement. Pakistan Faces Potential Wheat Supply Gap According to CAP, Pakistan’s annual wheat demand is estimated at approximately 4 million metric tons. The association argues that additional supplies will therefore be required to bridge the expected demand-supply gap and maintain adequate stocks in the domestic market. CAP has consequently called for private-sector participation alongside government procurement to ensure sufficient wheat supplies are arranged before shortages become more severe. Private Imports Could Offer Lower-Cost Wheat The association also pointed to relatively competitive prices in the international wheat market, saying wheat is currently available at approximately $320–325 per metric ton. After accounting for freight, local charges and other import-related expenses, CAP estimates that private-sector imports could potentially make wheat available at around Rs100–101 per kilogram. The association says this could provide an alternative source of supply at a time when domestic wheat prices have already risen considerably. Domestic Wheat Prices Continue to Rise Wheat prices in Pakistan’s domestic market have increased to approximately Rs125–130 per kilogram, according to CAP. The situation is more pronounced in Khyber Pakhtunkhwa, where wheat prices have reached around Rs140 per kilogram. The widening gap between international and domestic prices has strengthened the association’s argument for allowing private importers to bring additional supplies into the country. CAP Questions Sufficiency of Provincial Quota System CAP has also cautioned that the prevailing provincial quota system alone may not be sufficient to meet Pakistan’s wheat requirements. The association believes allowing private-sector importers to bring wheat into the country and sell it in the open market in bulk quantities would increase overall supply and improve market availability. According to CAP, greater availability could help ease price pressures and ultimately provide relief to consumers. Delay in Imports Could Worsen Market Conditions The association has warned that any delay in allowing private-sector wheat imports could result in a significant shortage and further deterioration in market conditions. With the government’s current procurement covering only part of the country’s estimated annual requirement, CAP says additional private-sector supplies need to be arranged in time to maintain adequate stocks and uninterrupted market availability.

Sindh Bank Profit After Tax Rises Nearly Five Fold for the Half Year Ended June 30, 2026
Business

Sindh Bank Profit After Tax Rises Nearly Five Fold for the Half Year Ended June 30, 2026

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Sindh Bank reported a sharp improvement in profitability during the first half of 2026, with Profit After Tax (PAT) rising nearly five times to Rs2.41 billion compared with Rs500 million in the same period last year. The bank’s Profit Before Tax (PBT) also increased substantially, reaching Rs4.05 billion in H1’26 from Rs1.08 billion in H1’25. The improvement was driven by stronger operating profits, resilient margins and a significant increase in Net Markup Income. Stronger Profitability and Capital Position Sindh Bank’s total equity increased by Rs1.22 billion to Rs34.77 billion as of June 30, 2026, reflecting a stronger capital base. The bank’s Capital Adequacy Ratio (CAR) stood at 21.81%, well above the regulatory minimum requirement of 11.50%. Its minimum capital stood at Rs30.12 billion against the regulatory requirement of Rs10 billion. The stronger capital position provides Sindh Bank with greater capacity to support balance sheet expansion and pursue future growth opportunities. Deposits Reach New Peak The bank’s deposits continued to grow, reaching a new peak of Rs357 billion by the end of June 2026, compared with the previous peak of Rs342 billion. This represents an increase of Rs15 billion from the level recorded at the end of December 2025. Sindh Bank also improved its deposit mix, particularly by increasing non-remunerative deposits. The shift helped strengthen profitability by improving the overall cost of funds. The bank’s customer base also expanded significantly, with 197,975 new customer accounts added during the period. Private Sector Lending Expands Sindh Bank increased private-sector lending by Rs10.8 billion during the first half of 2026. The lending growth was spread across key segments, including SME Finance, Agricultural Credit, Corporate and Commercial Credit, and Consumer Finance. The broader expansion in private-sector lending indicates a greater focus on supporting businesses, agriculture and consumers while also strengthening the bank’s overall balance sheet. Credit Ratings Reaffirmed During the period, VIS Credit Rating Company Limited reaffirmed Sindh Bank’s long-term credit rating at AA and its short-term rating at the highest possible level of A-1+. The ratings carry a stable outlook, reflecting the bank’s financial position and continued credit strength. Continued Focus on Public Service Alongside its commercial activities, Sindh Bank continued its public-service initiatives, including support for Sindh Peoples Housing for Flood Affectees and the annual distribution of Zakat. The bank also remained involved in the delivery of Benazir Hari Cards through its branches and booth counters. During the year, Sindh Bank partnered with various government departments to facilitate the digital delivery of several Government of Sindh interventions to registered beneficiaries. Government Relief Programmes Delivered Through Sindh Bank The bank facilitated an Rs87 billion Wheat Procurement Facility for the 2026 harvesting season, supporting 333,150 farmers. It also supported the digital transfer of Rs41 billion in DAP and Urea subsidies, along with Rs3 billion in fuel subsidies for 331,000 wheat growers. Sindh Bank further supported more than 3,500 fishermen and facilitated Rs2.4 billion in Peoples Motorbike Fuel Subsidies for 1.2 million bikers. The bank also delivered targeted fuel subsidies to more than 1,500 transporters and facilitated Rs4 billion in flood emergency assistance for more than 58,000 beneficiaries. Nationwide Branch Network Sindh Bank’s branch network currently comprises 330 online branches across Pakistan, including 59 dedicated Islamic Banking Branches (IBBs). With stronger profitability, record deposits, expanding private-sector lending and a well-capitalised balance sheet, the bank enters the second half of 2026 from a stronger financial position.

The Boardroom PK delivers trusted business news, analysis, and insights from Pakistan and beyond, keeping readers informed, inspired, and ahead in the evolving world of business and leadership.

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