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Trump Says Iran Cannot Have Nuclear Weapon As Tehran Warns Over Hormuz
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Trump Says Iran Cannot Have Nuclear Weapon As Tehran Warns Over Hormuz

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US President Donald Trump has reiterated that Iran cannot have a nuclear weapon, as tensions between Washington and Tehran remain high amid stalled diplomatic efforts and continuing disputes over the Strait of Hormuz. In a post on his Truth Social platform, Trump said preventing Iran from obtaining a nuclear weapon remains the primary objective of his administration. “The number one goal is, and always will be, that Iran cannot have, in any way, shape, or form, a nuclear weapon,” he wrote. Trump’s latest warning comes as negotiations between the United States and Iran remain stalled. The two sides have also been locked in a wider dispute over the strategic Strait of Hormuz, through which a significant share of global energy supplies normally passes. Recent shipping activity through the waterway has slowed sharply amid the continuing tensions. Iran Responds To Trump’s Hormuz Threat Iranian officials have continued to reject US pressure and have issued increasingly strong warnings over Washington’s position on the Strait of Hormuz. Ebrahim Azizi, chairman of the Iranian Parliament’s National Security Committee, directly responded to Trump’s recent statements regarding the strategic waterway. Azizi said Trump should focus on his own security rather than making what he described as “endless bluffs” about the Strait of Hormuz. “The President of the United States, instead of his endless bluffs regarding the Strait of Hormuz, should be thinking about securing his own safety,” Azizi said in a post on X. His comments came after Trump threatened to designate the Strait of Hormuz as US territory after claiming that Iran would be defeated. Trump has also said the US effectively controls the waterway because of the blockade. Iran has rejected the suggestion that Washington can claim control over the strategic passage. Iranian officials have insisted that any decision regarding the reopening or closure of the waterway remains under Iran’s authority. Strait Of Hormuz Dispute Escalates The dispute over Hormuz has become a central issue in the confrontation between Iran and the United States. The waterway is one of the world’s most important energy routes, connecting the Persian Gulf with the Gulf of Oman and the wider global shipping network. Any prolonged disruption can affect crude oil, LNG shipments, freight costs and international energy prices. Recent shipping data showed a significant decline in traffic through the strait. Five commodity vessels crossed the waterway on Saturday, while no registered transit was recorded on Sunday, compared with 31 vessels during the previous weekend. Iranian and US positions remain far apart. Tehran has linked the reopening of the waterway to changes in US policy, compensation for war-related damage, sanctions relief and the release of frozen Iranian assets. Trump Maintains Focus On Iran’s Nuclear Programme Trump’s latest statement shows that Iran’s nuclear programme remains a central issue for Washington. The US president has repeatedly said that Iran must not be allowed to obtain a nuclear weapon. The administration has used the nuclear issue as one of the principal justifications for maintaining pressure on Tehran. Iran, however, has consistently rejected claims that it is seeking nuclear weapons and has maintained that its nuclear programme has peaceful purposes. The disagreement over Iran’s nuclear activities has remained one of the most difficult issues in relations between the two countries. The current crisis has now expanded beyond the nuclear question, with the Strait of Hormuz, sanctions, economic pressure and military operations also forming major points of disagreement. Diplomatic Efforts Remain Uncertain Diplomatic efforts to resolve the confrontation remain uncertain. A US-Iran memorandum aimed at ending the conflict was due to expire on August 17, while talks remained stalled, according to a live regional update. Iran has maintained that messages exchanged through regional intermediaries, including Qatar and Pakistan, do not necessarily amount to formal negotiations. Separate discussions involving Oman have focused on arrangements concerning shipping through the Strait of Hormuz. The lack of progress has increased concerns that the dispute could continue to affect regional security and global energy markets. For Washington, preventing Iran from obtaining a nuclear weapon remains the stated priority. For Tehran, resistance to US pressure and control over its strategic interests remain central to its position. The latest exchange between Trump and Azizi highlights how sharply the two sides continue to disagree. While Trump insists that Iran must never acquire a nuclear weapon, Iranian officials are warning Washington against further threats and pressure over the Strait of Hormuz. With diplomatic efforts still uncertain, the dispute over Iran’s nuclear programme and the strategic waterway remains a major source of tension across the Middle East.

Indus Motor Employees Lead National Flag Collection Drive Across Karachi
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Indus Motor Employees Lead National Flag Collection Drive Across Karachi

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Indus Motor Company Limited (IMC) employees took part in a National Flag Collection Drive across Karachi to collect national flags and buntings left behind in public spaces following the Independence Day celebrations. Employees Collect Flags From Key Areas As part of the initiative, employee volunteers visited several areas across the city, including Steel Town, Surjani Town, Orangi Town, Maripur, Super Highway and Airmen Club Road. The collected flags and buntings were later brought to IMC, where they were handled according to the company’s established process. IMC Highlights Respect for the National Flag Speaking about the initiative, Ali Asghar Jamali, Chief Executive Officer of Indus Motor Company Limited, said the national flag represents the country, its people and the future in which the company is invested. He emphasised that respecting the dignity of the national flag is an important responsibility and praised employees for taking ownership of the initiative. Annual Employee-Led CSR Initiative The National Flag Collection Drive is conducted under IMC’s Employee Volunteering Program and its CSR platform, Concern Beyond Cars. The initiative has become an annual employee-led tradition at the company, bringing together volunteers to recover flags from roads, pavements and other public spaces after the August 14 celebrations. Building Civic Responsibility Through Volunteering The campaign highlights how employee volunteering can contribute to civic responsibility beyond a company’s core business activities. By collecting discarded flags after Independence Day celebrations, IMC employees are helping promote respect for the national symbol while encouraging responsible behaviour in public spaces.

Port Qasim Apparel Zone To Create 138,000 Jobs And Generate $2.2bn Exports
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Port Qasim Apparel Zone To Create 138,000 Jobs And Generate $2.2bn Exports

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The government plans to establish a 400-acre apparel zone at Port Qasim, with project projections showing the creation of more than 138,000 jobs and annual exports of nearly $2.2 billion during the first phase. The proposed project aims to attract private investment, expand Pakistan’s high-value apparel manufacturing capacity and strengthen the country’s export base. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry chaired a meeting on the proposed garment city project, according to an official press release. During the meeting, officials discussed the project’s infrastructure, investment opportunities, utilities and export potential. The proposed Port Qasim apparel zone will focus on export-oriented manufacturing, particularly high-value apparel production. The government expects the project to bring together manufacturers, supporting industries and logistics facilities within an integrated industrial cluster. First Phase To Cover 250 Acres According to the project plan, the first phase of the apparel zone will cover 250 acres. Around 35% of the area will be allocated for internal roads, utilities and green spaces to support industrial operations and improve the overall environment of the manufacturing cluster.The complete project has been planned over 400 acres, while the first phase will establish the initial industrial and commercial infrastructure. The scheme will operate under a public-private partnership model, with the government providing essential infrastructure while private investors establish and operate manufacturing facilities. The proposed commercial layout currently includes 32 industrial plots, each measuring five acres. However, authorities are considering reducing the size of individual plots to two or three acres. This adjustment could allow more investors and manufacturing units to participate in the project. The government expects a larger number of industrial units to increase production capacity, attract additional investment and create more employment opportunities. Port Qasim To Provide Major Utilities The Port Qasim Authority (PQA) will be responsible for providing infrastructure and essential utilities to industrial units established in the zone. Under the proposed plan, each industrial unit could receive access to up to 400,000 gallons of water per day, 2 megawatts of on-grid electricity and 23,100 pounds of industrial gas per day at 8 PSI. The available gas supply is expected to provide sufficient capacity to meet requirements for approximately 10 tonnes of steam, supporting industrial manufacturing processes. For the overall project, planned utility capacity includes 13 million gallons of water per day, 64MW of on-grid electricity and 750,000 pounds of industrial gas daily. The availability of dedicated utilities is expected to make the zone more attractive for textile and apparel manufacturers that require reliable energy and water supplies for large-scale production. Artistic Milliners Plans $18m Investment Private-sector participation will remain central to the proposed project, according to Junaid Anwar Chaudhry. Pakistani textile and denim manufacturer Artistic Milliners is expected to establish a manufacturing facility in the zone with an investment exceeding $18 million. The proposed facility will incorporate vertical integration and green technologies. Vertical integration could allow the company to manage multiple stages of production within the same industrial ecosystem, while green technologies are expected to support more sustainable manufacturing. The participation of established textile manufacturers could also encourage other local and international investors to consider establishing production facilities within the apparel zone. One-Window Export Facility Planned The Port Qasim apparel zone will also include a one-window mechanism for exporters aimed at simplifying business and export procedures. The planned system will include streamlined export processing, specialised customs desks and dedicated transport corridors. These facilities are intended to reduce administrative delays and improve the movement of finished goods from factories to port facilities. The integration of manufacturing and port infrastructure is expected to provide exporters with faster access to international markets. Port Qasim’s location also gives the proposed industrial cluster a logistical advantage by allowing manufacturers to remain close to major maritime trade infrastructure. Government Targets Higher Export Value Another objective of the project is to increase the average export value of Pakistani garments to approximately $8 per piece. The government sees higher-value apparel manufacturing as an important step toward improving Pakistan’s export earnings. Rather than relying heavily on lower-value textile products, the proposed zone aims to encourage production of finished and value-added garments. The initiative forms part of wider government efforts to expand Pakistan’s industrial base and increase export capacity. Officials believe that integrating manufacturing facilities with port infrastructure, utilities, customs services and private investment can create a more competitive export ecosystem. If implemented according to the proposed projections, the project could become an important addition to Pakistan’s textile and apparel manufacturing sector, while creating substantial employment and supporting higher-value exports.

PPL Dolphin X 1 Discovery Opens New Hydrocarbon Play in Sindh
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PPL Dolphin X 1 Discovery Opens New Hydrocarbon Play in Sindh

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Pakistan Petroleum Limited has reported a potentially significant breakthrough in Pakistan’s hydrocarbon exploration landscape after its operated Sairani Block in Sujawal district, Sindh, delivered a gas discovery from the Dolphin X 1 exploratory well. The PPL Dolphin X 1 Discovery is particularly important because it represents the first reported discovery from the Jurassic era Chiltan Formation in the Lower Indus Basin. More than simply adding another gas well to Pakistan’s exploration portfolio, the discovery could establish a new hydrocarbon play with implications for both onshore exploration and the country’s shallow offshore prospects. The well was drilled to a measured depth of 3,850 metres to test the hydrocarbon potential of the Chiltan Formation. Drilling began on April 17, 2026. During testing, the formation produced gas at a rate of 0.942 million standard cubic feet per day. Why the PPL Dolphin X 1 Discovery Matters The production rate itself is not large enough to transform Pakistan’s gas balance overnight. That distinction is important because describing every exploration success as a major energy breakthrough can create unrealistic expectations. The bigger significance of the PPL Dolphin X 1 Discovery lies beneath the initial production figure. PPL says the result confirms the existence of an active petroleum system in an area that has historically been considered difficult to explore because of its challenging geological and geographical conditions. The discovery therefore has an exploration value that could extend beyond the Dolphin X 1 well. If further appraisal work confirms commercially recoverable reserves and establishes continuity of the reservoir, the discovery could encourage additional drilling across nearby areas. From Difficult Terrain to Shallow Offshore Potential The Sairani Block is located in an area where exploration has faced considerable technical and geographical challenges. The latest result could change how companies assess the broader exploration potential of adjoining marshland areas and potentially the shallow offshore zone. This is where the discovery becomes strategically interesting for Pakistan. The country continues to face pressure to increase domestic energy production, reduce dependence on imported fuels and strengthen energy security. New exploration plays can contribute to that objective, but only if discoveries ultimately move from geological success to commercially viable production. That transition should remain the key test for the PPL Dolphin X 1 Discovery. PPL Holds 75 Percent Stake in Sairani Block PPL is the operator of the Sairani Block with a 75 percent working interest, while Government Holdings Private Limited holds the remaining 25 percent interest. PPL has also acknowledged the support provided by the Pakistan Navy during the Dolphin X 1 project. Such institutional cooperation can be particularly important when exploration activity takes place in geographically challenging areas. Discovery Is Promising but Commercial Viability Is the Real Question The announcement deserves attention, but it should also be viewed critically. A gas discovery does not automatically mean a large commercial reserve or immediate relief for Pakistan’s energy shortages. The reported flow rate of 0.942 million standard cubic feet per day is an encouraging geological result, but further appraisal is essential to determine reservoir size, pressure behaviour, recoverable volumes and the economics of future development. The real story will therefore unfold through subsequent appraisal wells and development decisions. If additional drilling confirms the new play, the PPL Dolphin X 1 Discovery could become much more consequential than its initial production figure suggests. For Pakistan, the opportunity is clear. The challenge is turning an exploration milestone into sustained domestic gas production. A New Chapter for Pakistan’s Hydrocarbon Exploration The PPL Dolphin X 1 Discovery has opened an important new exploration frontier in Sindh by demonstrating hydrocarbon potential in the Chiltan Formation of the Lower Indus Basin. Its immediate production contribution may be modest, but its geological significance could be considerably larger. The discovery gives Pakistan’s energy sector another reason to examine underexplored formations and shallow offshore prospects. For PPL and its partners, the next phase will be critical. Successful appraisal and commercial development could turn today’s geological discovery into tomorrow’s domestic energy asset.

Essential Food Prices Stay Firm as Consumers Face Continued Pressure
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Essential Food Prices Stay Firm as Consumers Face Continued Pressure

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Prices of essential food commodities remained largely unchanged in the retail market, keeping household budgets under pressure as consumers continued to deal with elevated prices of everyday necessities. A recent market survey reported that several commonly used food items showed little movement in prices, indicating that there was no significant relief for consumers during the period under review. Food Prices Remain Stable but Expensive Although prices may have remained steady, stability does not necessarily mean affordability has improved. For households already struggling with high living costs, even unchanged prices of flour, sugar, cooking oil, meat and vegetables can continue to place pressure on monthly budgets. The persistence of elevated food prices also highlights the importance of keeping supplies uninterrupted and monitoring retail markets to prevent unnecessary increases. Essential Kitchen Items Under Close Watch Food products that form a regular part of household consumption remain particularly important for consumers. Changes in the prices of flour, sugar, cooking oil, pulses, vegetables and meat can quickly affect overall household expenditure. Previous market reports have also shown that food prices can move sharply when fuel costs, transportation expenses or supply disruptions increase. Supply Conditions Remain Important Maintaining adequate supplies will be crucial for preventing another increase in food prices. Seasonal factors, transportation costs and disruptions in agricultural supply chains can all influence retail rates. Vegetable prices, in particular, have recently faced pressure from higher fuel costs and monsoon-related supply disruptions, demonstrating how quickly external factors can affect food markets. Consumers Continue to Feel the Impact For consumers, stable prices offer limited relief when essential goods are already expensive. Any additional increase in food costs could further reduce disposable income, particularly for lower- and middle-income households. Authorities therefore face the challenge of ensuring that stable wholesale supplies translate into reasonable retail prices. Effective monitoring of markets and action against unjustified price increases can help protect consumers. Food Inflation Remains a Key Economic Concern Food prices remain an important indicator of household economic conditions. Even when the overall market appears stable, persistent high prices can affect purchasing power and influence consumer spending on other goods and services. The government and provincial administrations will need to maintain close oversight of food supply chains, particularly during periods of higher transportation costs or adverse weather. Outlook for Essential Food Prices The immediate picture suggests that prices of several essential food items are holding steady rather than falling significantly. While this provides some short-term stability, consumers will continue to watch the market for any fresh increases. A sustained improvement in food affordability will ultimately depend on stronger supplies, lower distribution costs and effective market monitoring.

Punjab, Sindh Refuse Costly Imported Wheat As Centre Pushes Ahead With 1 Million-Tonne Plan
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Punjab, Sindh Refuse Costly Imported Wheat As Centre Pushes Ahead With 1 Million-Tonne Plan

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Punjab and Sindh have declined to procure imported wheat despite the federal government’s decision to bring in one million metric tonnes to address rising prices and strengthen strategic reserves. The two provinces are instead seeking additional supplies from federal stocks after falling significantly short of their local wheat procurement targets. Punjab Reverses Its Wheat Import Commitment Punjab had initially committed to purchasing one million tonnes of imported wheat but later reduced its requirement to 800,000 tonnes. During a meeting chaired by National Food Security Minister Rana Tanveer Hussain, the Punjab representative stated that the province no longer required imported wheat. The minister directed that the position be formally recorded so the province could not later hold the federal government responsible for any shortage or price increase. Punjab has already received 800,000 tonnes from federal PASSCO stocks, but 533,000 tonnes of that allocation are still awaiting collection. The province also procured only 500,000 tonnes directly from farmers against a target of three million tonnes. Sindh Also Shows Reluctance To Accept Imports Sindh had previously requested 720,000 tonnes of wheat, including 500,000 tonnes from imports. However, during a steering committee meeting chaired by Deputy Prime Minister Ishaq Dar, the province also expressed reluctance to take the imported grain. Khyber Pakhtunkhwa, meanwhile, maintained its demand for 200,000 tonnes of imported wheat along with another 200,000 tonnes from local stocks. A KP representative criticised Punjab’s change in position, arguing that the province had earlier reported a shortage that contributed to higher prices and affected the availability of wheat in other provinces. Federal Government Maintains 1 Million-Tonne Import Plan Despite the provincial reservations, the federal steering committee reaffirmed its decision to import one million tonnes of wheat. The government says the imports are necessary to meet domestic requirements, ease price pressures and maintain adequate strategic reserves. Officials noted that existing federal stocks are insufficient to satisfy the demands of all provinces. Consequently, even if some provinces prefer locally procured wheat, the federal government intends to proceed with imports to safeguard national reserves. Flour Prices Rise Sharply The wheat supply dispute comes as consumers face a substantial increase in flour prices. According to the Pakistan Bureau of Statistics, the price of wheat flour has risen 77.5 percent year-on-year to Rs132.50 per kilogram from Rs75. The sharp increase has intensified pressure on the government to ensure adequate wheat availability and prevent further escalation in food prices. Government Finalises Wheat Supply Mechanism Under the proposed arrangement, the federal government has allocated one million tonnes of PASSCO wheat stocks among the provinces on a proportional basis. Punjab is set to receive the largest allocation, followed by Sindh, Khyber Pakhtunkhwa and Balochistan. A draft tripartite agreement identifies the Ministry of National Food Security as the coordinating authority without financial liability. The Trading Corporation of Pakistan will handle the import process without assuming financial liability, while the provinces will be responsible for providing payment security and firm commitments. Imported wheat will be supplied at Rs4,150 per 40 kilograms, which is Rs650 higher than the farmer support price. Any decision regarding duty exemptions will be taken by Prime Minister Shehbaz Sharif. Procurement Shortfalls Fuel Wheat Crisis Provincial procurement performance has emerged as a major concern behind the current wheat situation. Punjab’s purchase of only 500,000 tonnes against a target of three million tonnes has left the province heavily dependent on federal reserves. The reluctance of Punjab and Sindh to accept imported wheat further complicates the federal government’s effort to manage supplies and stabilise prices. Officials have stressed that the provinces must provide written positions specifying whether they accept or reject imported wheat before the government proceeds with the next stage of the arrangement. Wheat Import Decision Faces Provincial Resistance The federal government now faces the challenge of balancing provincial preferences with the need to maintain national wheat reserves. While Punjab and Sindh are reluctant to procure costly imported wheat, the Centre maintains that imports are necessary because domestic procurement has fallen short of targets and federal reserves alone cannot meet future requirements. The outcome will depend on how quickly provinces finalise their wheat requirements and whether the federal import programme can ease supply pressures without placing additional financial strain on provincial governments.

Consumers Reject Proposed Rs34bn Power Tariff Burden Amid Rising Costs
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Consumers Reject Proposed Rs34bn Power Tariff Burden Amid Rising Costs

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Consumer representatives have protested against a proposed Rs34 billion additional power tariff burden arising from higher capacity charges, lower electricity sales, loadshedding and increasing solar penetration. The proposed adjustment could raise electricity tariffs by around Rs1.35 per unit for three months, prompting industrial consumers to demand an immediate review of the government’s incremental tariff package. The issue was raised during a public hearing conducted by the National Electric Power Regulatory Authority (Nepra) on Wednesday to examine quarterly tariff adjustments (QTA) sought by power distribution companies (Discos). Industrial consumers argued that the proposed adjustments could effectively place an additional burden of around Rs2 per unit on consumers, further increasing electricity costs for businesses and households already facing high energy prices. Discos Seek Higher Quarterly Tariff Adjustments During the hearing, several distribution companies reported declining electricity sales. Most major Discos recorded around a 5% decline in electricity sales, raising concerns among Nepra officials about the reasons behind the reduction. Nepra Member Maqsood Anwar Khan questioned whether excessive loadshedding was contributing to the decline, particularly in areas where consumers have relatively low losses and strong payment records. He specifically asked whether power outages were also occurring in areas populated by consumers who regularly pay their electricity bills. Representatives of Faisalabad Electric Supply Company (Fesco) confirmed that loadshedding was taking place even in low-loss areas with high-paying consumers. The development raised concerns about the relationship between lower electricity sales and increasing capacity payments. When electricity consumption declines while fixed capacity-related costs remain payable, the cost burden can increase on the units sold to consumers. Islamabad Electric Supply Company (Iesco), meanwhile, sought an increase of around Rs1.83 per unit in its quarterly tariff for the September-November period, primarily due to higher capacity charges. Hazara Electric also requested an additional QTA of around Rs1.65 per unit. Nepra Questions Impact of Industrial Tariff Package The hearing also focused on the government’s incremental tariff package for industrial consumers. Under the package, industrial consumers are supplied electricity at around Rs22.98 per unit, compared with an average tariff of approximately Rs40 per unit. Maqsood Anwar Khan said he had raised concerns about the sustainability of the package since its introduction. He questioned whether the reduced industrial tariff could create additional financial pressure elsewhere in the power sector, particularly as distribution companies face declining sales and rising capacity-related costs. However, Khan also challenged the argument that increasing solar penetration was damaging the power sector. He said solar generation was helping reduce system losses and lowering the need for expensive imported fuel. According to him, without the contribution of solar power, the country could have faced greater loadshedding during the recent regional conflict or higher tariff adjustments because of increased fuel costs. Industrial Consumers Demand Review Nepra Member Amina Ahmed said the higher QTA impact arising from electricity consumption during the April-June period had become unavoidable. However, she said the situation made an urgent review of the incremental industrial tariff package necessary. The Power Division’s tariff team also confirmed that a review case had already been submitted to Nepra. Naveed Qaiser, head of the Power Division’s tariff team, rejected the suggestion that the industrial tariff package had damaged the power sector. He maintained that industrial electricity consumption had generally improved. Industrial representatives, however, challenged this assessment. Representatives from the Karachi Chamber of Commerce, Korangi Association of Trade and Industry and other business groups argued that the improvement in grid-based industrial electricity consumption was largely linked to the shift of industries away from captive power generation. They attributed the shift to the government’s decision to impose a punitive levy on captive natural gas consumption under measures associated with the International Monetary Fund programme. According to industrial representatives, this policy encouraged industries to move towards grid electricity rather than demonstrating a broad-based recovery in industrial power demand. Additional Rs14bn Demand Under Review The Power Division also clarified the composition of the additional tariff claims submitted by distribution companies. Qaiser said power companies had initially sought around Rs23 billion in additional quarterly tariff adjustments. Another Rs14 billion was subsequently sought by Sukkur Electric Power Company (Sepco) on account of bilateral electricity trading involving new captive power plants at Naudero, Dawood and Shikarpur. However, the Power Division official said the actual additional impact over the quarter was expected to be around Rs17 billion to Rs18 billion. Nepra Member Amina Ahmed indicated that the Rs14 billion claimed by Sepco might not ultimately form part of the quarterly tariff adjustment. She said the amount would need to be examined separately before any decision was taken. Higher Capacity Charges Raise Consumer Concerns The proposed adjustment highlights the continuing challenge faced by Pakistan’s power sector as electricity sales decline while fixed capacity-related obligations remain high. Consumer representatives fear that passing these costs on to electricity users could further increase the cost of doing business and put additional pressure on household budgets. Industrial consumers have already been facing high electricity tariffs, rising production costs and increased competition in domestic and international markets. The latest hearing also brought the relationship between solar adoption, loadshedding and power-sector finances into sharper focus. With more consumers installing rooftop solar systems, grid electricity demand has declined in certain periods. At the same time, distribution companies continue to face fixed capacity payments and other sectoral costs. Nepra is now expected to examine the QTA claims, the proposed incremental tariff package and the separate Sepco demand before determining the final adjustment. The regulator’s decision will determine how much of the proposed burden is ultimately passed on to consumers during the September-November period.

JS Momentum Factor ETF Posts Worst Monthly Start In Years
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JS Momentum Factor ETF Posts Worst Monthly Start In Years

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JS Momentum Factor ETF (JSMFETF) opened the new financial year with a sharp decline, falling 9.09 percent in July 2026. Steepest July Loss In Recent History The drop marked the fund’s weakest July performance in the available data. It compared with a 0.57 percent fall in July of the previous year and strong gains in earlier periods. The benchmark JS Momentum Factor Index slipped 9.03 percent over the same month. The tracking difference stood at a narrow minus 0.06 percentage points. Net asset value stood at Rs9.79 at the end of July, while net assets were recorded at Rs1.38 billion. Heavy Sector Bets Amplified Pressure Cement stocks dominated the portfolio at 46.38 percent of equity holdings. Oil and gas marketing companies accounted for another 23.68 percent. Top positions included D.G. Khan Cement at 20.20 percent and Maple Leaf Cement at 19.26 percent. Sui Northern and Sui Southern Gas together made up nearly 24 percent. Momentum strategies can struggle when market leadership rotates sharply. July’s broader market volatility, driven by geopolitical tensions, put additional pressure on high-momentum stocks and contributed to the ETF’s weak performance. The fund, launched in January 2022, carries a high-risk profile. Its since-inception return remains strongly positive at more than 250 percent, although it has trailed the benchmark by roughly 10 percentage points. Investors should note that past performance does not guarantee future results. The ETF continues to rebalance monthly based on price momentum scores.

18 Major Companies Which Announce Strong Dividend Payouts On PSX
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18 Major Companies Which Announce Strong Dividend Payouts On PSX

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Several Pakistan Stock Exchange (PSX) listed companies have announced significant cash dividends in recent corporate filings, highlighting strong profitability across key sectors including banking, cement, consumer goods and energy. Banks And Cement Lead High Payouts Lucky Cement Limited announced a final cash dividend of 250 percent, equivalent to Rs5 per share. The company’s books will close on August 18, 2026. MCB Bank Limited declared a 90 percent interim dividend, while Meezan Bank Limited announced an 80 percent interim payout. Both banks will close their books on August 19. Habib Bank Limited approved a 60 percent interim dividend, with its books closing on August 17. Faysal Bank and Bank Alfalah also declared interim dividends of 15 percent and 30 percent respectively. Consumer And Energy Firms Join The List Pakistan Tobacco Company Limited announced a substantial 350 percent interim dividend, while Colgate-Palmolive (Pakistan) Limited declared a final dividend of 350 percent. Lucky Core Industries Limited approved a final payout of 262.5 percent, while Mari Energies Limited declared a final dividend of 187 percent. Bestway Cement Limited announced a 100 percent final dividend. Other notable announcements include Gadoon Textile Mills at 50 percent and Crescent Steel at 35 percent. These payouts reflect improved earnings across sectors including cement, banking and consumer goods. Investors holding shares before the respective book closure dates will be entitled to the announced dividends, subject to the applicable corporate action requirements. Investors Watch Dividend Dates Market participants continue to monitor upcoming book closures and payment timelines closely, as dividend announcements can influence investor sentiment and trading activity on the PSX. The strong payouts also highlight the importance of corporate earnings and cash-generation capacity when assessing dividend-paying companies.

Hyundai Elantra Hybrid Price Surges To Rs11.4 Million After New 25% Sales Tax
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Hyundai Elantra Hybrid Price Surges To Rs11.4 Million After New 25% Sales Tax

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The Hyundai Elantra Hybrid Price in Pakistan has jumped sharply to Rs11.4 million, or Rs1.14 crore, after the government introduced a 25 percent sales tax under the FY2026-27 federal budget. Hyundai has increased the price of the Elantra Hybrid by Rs1.505 million, representing a 15.21 percent increase. The move places the hybrid sedan firmly into the premium vehicle segment and raises fresh questions about how new taxation measures will affect the affordability of fuel-efficient cars in Pakistan. The price increase is particularly significant because hybrid vehicles are generally promoted as a more economical alternative to conventional petrol-powered cars. With the new tax burden pushing prices higher, consumers could find that the initial cost advantage of choosing a hybrid has become increasingly difficult to justify. Hyundai Elantra Hybrid Price Takes A Major Hit From New Tax The latest increase reflects the wider impact of the 25 percent sales tax imposed under the new budget framework. While the government may view higher taxation as a way to increase revenue, the effect on consumers is considerably more complicated. For prospective Elantra Hybrid buyers, the additional Rs1.505 million means a substantially larger upfront financial commitment. At Rs11.4 million, the vehicle is no longer simply competing with other mid-range sedans. It is entering a price bracket where buyers may begin comparing it with larger vehicles and higher-end alternatives. This raises an important question for policymakers: if the government wants to encourage fuel efficiency and reduce dependence on conventional fuels, does making hybrid vehicles significantly more expensive send the wrong market signal? The contradiction is difficult to ignore. Hybrid technology can help consumers reduce fuel consumption, but higher taxes increase the initial cost of adopting that technology. Hyundai Hybrid Lineup Also Faces Price Shock The Elantra Hybrid is not the only Hyundai model affected. Prices across Hyundai’s hybrid lineup have also increased, with the Tucson and Santa Fe variants becoming more expensive. The biggest increase has been recorded for the Santa Fe Hybrid Signature AWD, which has received a Rs2.128 million price increase. Its new price stands at Rs16.123 million. The scale of these increases demonstrates that the budget’s tax changes are not an isolated issue for one model. Instead, they could reshape pricing across Pakistan’s hybrid vehicle market and potentially weaken consumer demand for more fuel-efficient vehicles. For automakers, the challenge will be balancing higher taxation and production costs against a market where consumers are already highly sensitive to vehicle prices, financing costs and household purchasing power.

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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