Pakistan

Islamabad: Oil and Gas Development Company Limited (OGDC), Pakistan’s flagship energy explorer, has announced a groundbreaking hydrocarbon discovery in the Nashpa Block, hailed as the largest oil-producing block in the country. The find, from the exploratory well Bargazai-X01, promises to significantly bolster national reserves and counter the depleting output from the aging Nashpa oil field. Drilled to a target depth of 5.81 meters, the Bargazai-X01 well struck hydrocarbons at 5.17 meters—above expectations—and is undergoing additional testing to confirm further potential. This discovery underscores OGDC’s commitment to unlocking untapped resources amid Pakistan’s growing energy demands. Industry analysts project that full field development in the Bargazai area could arrest the Nashpa field’s decline and elevate OGDC’s overall reserves by a meaningful margin. “This is a game-changer for Pakistan’s upstream sector,” said an OGDC spokesperson. “The Nashpa Block has long been a cornerstone of our production, and this new find positions us to sustain and expand output for decades.” Read More: https://theboardroompk.com/reko-diq-safe-despite-barrick-restructuring-talks-ogdcl-tells-investorsnovember-25-2025/ Financial projections for the discovery paint an optimistic picture, based on current market benchmarks. With crude oil priced at $62 per barrel and natural gas at $5.50 per million British thermal units (MMBTU), the realized crude price stands at $58 per barrel. At an exchange rate of 281 PKR/USD, initial gas production estimates of 2.80 million cubic feet per day (MMCFD) could generate substantial revenues. Under a projected sharing model—65% to OGDC and 30% to Pakistan Petroleum Limited (PPL)—net revenues are forecasted at 7.539 PKR million for OGDC and 2.053 PKR million for PPL in the initial phase. Net income projections follow suit, with OGDC at 3.016 PKR million and PPL at 0.821 PKR million, translating to combined earnings per share (EPS) impacts of 0.70 PKR for OGDC and 0.19 PKR for PPL. The discovery arrives at a pivotal time for Pakistan’s energy landscape, where domestic production struggles to keep pace with consumption. Nashpa, operational since 2010, has been a vital contributor to OGDC’s portfolio, accounting for a significant share of the company’s 40,000+ barrels of oil equivalent per day output. Experts believe this find could enhance energy security, reduce import reliance, and stimulate economic growth through job creation and technology transfer. Shares of OGDC and PPL saw modest gains in early trading on the Pakistan Stock Exchange following the announcement, reflecting investor confidence in the sector’s revival. As testing progresses, further updates on commercial viability and development timelines are anticipated in the coming months. This breakthrough aligns with Pakistan’s broader push for sustainable energy exploration, including incentives under the Pakistan Onshore Petroleum Policy. For OGDC, it reinforces its status as the nation’s leading explorer, with a track record of over 200 discoveries since 1961.

ISLAMABAD: As part of its ongoing Lecture Series on Competition Law, the Competition Commission of Pakistan (CCP) hosted a special session featuring Air Marshal Javaid Ahmed, HI (M) (Retd), President Centre for Aerospace and Security Studies (CASS), and Dr. Usman W. Chohan, Advisor CASS, on the theme “Role of Aviation Industry in Economic Affairs and National Development.” CASS is Pakistan’s premier centre for strategic research on aerospace, emerging technologies, security, and national policy. Welcoming the speakers, CCP Chairman Dr. Kabir Sidhu said that regulatory frameworks across major sectors in Pakistan remain outdated and require urgent modernization to meet the demands of rapidly evolving markets. He highlighted that CCP’s Centre of Excellence is conducting in-depth sectoral studies to identify regulatory gaps, market inefficiencies, and provide evidence-based recommendations for reforms. The Centre has completed studies in over fifteen key sectors, including LNG, Power, sugar, Insurance, Fertilizer, Road Infrastructure, and Gold. Read More: https://theboardroompk.com/pm-promises-live-tv-coverage-for-pia-privatization-bids-on-december-23/ Air Marshal Javaid Ahmed (Retd) delivered a comprehensive lecture on the dynamics of the global and domestic aviation industry. He cautioned that Pakistan’s aviation sector needs urgent modernization to unlock its potential in tourism, cargo movement, technology development, skilled employment, and national security, as highlighted under the Significance of Aviation Industry framework in his presentation. He outlined Pakistan’s aviation challenges, including high operational costs, weak governance structures, security constraints, sectoral inefficiencies, limited private sector participation, and shortage of skilled workforce. Highlighting opportunities, he expressed that Pakistan possesses strong aeronautical capabilities and will “soon be able to manufacture a passenger aircraft,” given its advanced fighter aircraft ecosystem. He also briefed the audience about the National Aerospace Science and Technology Park (NASTP), a multi-site initiative equipped with high-end laboratories in AI, avionics, cyber, robotics, composites, and satellite technologies. NASTP aims to build Pakistan’s first integrated aerospace ecosystem, expand dual-use technologies, and position the country as a regional innovation hub. Dr. Usman W. Chohan presented key economic indicators, noting that aviation contributes $5.6 billion to Pakistan’s GDP (1.7%), supports 684,000 jobs, and generated 22 million passengers in 2023, a figure expected to rise under the National Aviation Policy 2023. He underlined that Pakistan’s flight market revenue is projected to grow from $6.04B in 2025 to $8.17B by 2030, with users rising to 48.5 million. He emphasized aviation’s critical role in trade, connectivity, tourism, and broader economic competitiveness. The session concluded with an engaging question-and-answer discussion, attended by senior officials, researchers of the CCP, and industry stakeholders.

Karachi: Automechanika Dubai 2025 is in full swing at the Dubai World Trade Centre, and this year’s edition is shaping up to be one of the strongest so far. The event has brought together manufacturers, technology innovators and automotive experts from across the globe. More than 2,300 exhibitors from over 60 countries are participating, with 20 national pavilions representing Pakistan, Germany, India, Türkiye, China, Italy, South Korea, Taiwan and several others. These pavilions provide visitors with the opportunity to explore offerings from different countries and compare products, technologies and prices all under one roof. Read More: https://theboardroompk.com/imc-proposes-maintaining-40-tariff-difference-in-upcoming-auto-policy/ For the 2025 edition, Trade Development Authority of Pakistan (TDAP) is supporting 10 leading Pakistani companies at the Pakistan Pavilion, including Ghauri Tyres & Tubes, Multi Tech Engineering, Super Horn, Thermosole Industries, Rastgar Engineering, Sanpak Engineering, Darson Industries, United Auto Industries and Diamond Tyres. In addition, Panther Tyres Limited, Pakistan Accumulators Limited and Atlas Battery Limited are participating independently, further highlighting Pakistan’s strong presence at this year’s show. The connections being formed at Automechanika Dubai 2025 are expected to translate into long-term partnerships and new trade opportunities. For Pakistani businesses, the event is proving to be a valuable platform for identifying competitive suppliers and preparing for the future of mobility.

The Pakistan Stock Exchange opened Wednesday’s session on a strong note, delivering another milestone moment for investors. The benchmark KSE-100 Index crossed the 170,000 level in early trade, an achievement fueled by renewed market confidence following the IMF’s latest approval for Pakistan’s next loan disbursement. With greater clarity on the economic front and improved liquidity expectations, investors kicked off the morning with aggressive buying across multiple sectors. Early Session Momentum: Market Takes Off Strong: By 9:50 AM, the KSE-100 was trading at 170,164.63, up 708.25 points (0.42%).The index stayed firmly in the green throughout the early session, touching: • Intraday High: 170,241.72• Intraday Low: 169,806.32 Trading activity was robust, with volumes reaching 40.44 million shares on the KSE-100 alone. Among the 100 benchmark companies:• 75 stocks were trading higher• 15 were in the red• 6 remained unchanged• 4 had yet to trade Top Movers: ISL Hits Upper Circuit as Bulls Dominate: A number of stocks stole the spotlight: Top Gainers• ISL surged 10%, hitting its upper limit• INIL gained 5.84%• DHPL climbed 5.60%• JVDC rose 3.13%• PKGP advanced 3.02% Top Decliners• PSEL led the downside with a 1.88% drop• Minor pressure came from THALL, SRVI, PAEL, and PAKT Despite a few laggards, the overall sentiment remained firmly bullish. Index Support: Key Contributors Driving the Rally: Major positive contributors included:• FFC• ISL• HUBC• DHPL• LUCKOn the other hand, stocks like PSEL, SYS, THALL, DGKC and PAEL offered mild downward pressure, though not enough to offset the broader rally. Sector Snapshot: Banks, Fertilizer & Cement Lead the Charge: Strength in the market was led by:• Commercial Banks• Fertilizer• Investment Companies & Securities• Engineering• Cement Sectors showing mild weakness included:• Miscellaneous• Automobile Parts & Accessories• Cable & Electrical Goods• Tobacco• Sugar & Allied Industries However, their negative impact remained minimal. Broader Market: All-Share Index Also Rises: The optimism wasn’t limited to the benchmark index. The All-Share Index climbed to:• 102,892.33, up 413.76 points (0.40%) Total market volume soared to 139.25 million shares in early trade. Top Volume Leaders:• BML – 33.7M+ shares• KEL• BOP• TPLP• QUICE• ASL• BNL• HUMNL• TPL• PIAHCLA A Stellar Year for PSX: Double-Digit Gains Continue: The PSX has already delivered a remarkable performance this fiscal year:• FY-to-date gain: 44,537 points (35.45%)• Calendar-year gain: 55,038 points (47.81%) With improving macroeconomic indicators and the latest IMF confirmation, investor confidence appears to be gaining fresh momentum, setting the tone for what could be another strong trading day at the Pakistan Stock Exchange.

Pakistan’s stock market is enjoying a remarkable resurgence and the momentum is spilling over into what could become one of the busiest years for initial public offerings (IPOs) in over a decade. With investor confidence climbing and economic indicators showing signs of stability, several companies are now preparing to tap into the market to raise fresh capital and scale their operations. The renewed optimism across the Pakistan Stock Exchange is encouraging a diverse group of businesses from consumer goods and pharmaceuticals to automotive and commodity startups to plan public listings in the coming months. A New IPO Wave Begins: Companies Ready to Go Public: Market leaders, including Arif Habib, confirm that multiple companies have already initiated their IPO processes, hoping to ride the wave of strong market sentiment. Among the most anticipated listings is Service Long March Tyres Ltd., a high-profile joint venture between Servis Group and China’s Chaoyang Long March. The company is aiming to raise up to Rs6.5 billion ($23.2 million) by April to expand its tyre manufacturing capacity. Other promising entrants include: • Saraaf, a fast-growing commodity sourcing startup that attracted Rs1.5 billion ($5.4 million) in funding on Shark Tank Pakistan in 2024• Matco Foods Ltd., which is preparing to spin off its rapidly expanding Falak Foods unit through a separate IPO These listings reflect a clear trend: Pakistani companies are increasingly looking to public markets to scale operations, boost production, and diversify revenue streams. Investment Banks Gear Up for a Busy Season: Pakistan’s leading investment banks are deeply involved in this emerging IPO pipeline. • Arif Habib Ltd. and Ktrade Securities Ltd. together are managing up to 16 potential offerings expected to hit the market within the next seven months.• JS Global Capital Ltd. is also preparing to list as many as six companies during the same period. The scale of involvement from major financial institutions signals strong institutional confidence in the country’s economic direction. Why Market Conditions Are Favorable for IPOs Right Now: Shahid Ali Habib, CEO of Arif Habib, notes that current market valuations are highly attractive for equity raising. The combination of a more stable Pakistani rupee and a supportive interest-rate environment is creating ideal conditions for companies planning to go public. These macroeconomic factors are boosting investor sentiment, making it easier for businesses to raise the capital needed for expansion. A Turning Point for Pakistan’s Capital Markets: The surge in IPO activity is more than just a financial trend, it reflects a broader shift in economic confidence. Businesses, investors, and financial institutions are increasingly aligned in their belief that Pakistan’s economy is entering a new phase of recovery and opportunity. If current momentum continues, 2025 could become a defining year for Pakistan’s capital markets, with increased listings, higher retail participation, and renewed global investor interest. For investors and entrepreneurs alike, Pakistan’s IPO landscape is becoming one of the most exciting spaces to watch in the region.

In a major boost to Pakistan’s economic landscape, the United States has announced a $1.25 billion financing commitment through its Export-Import (EXIM) Bank, a move set to reshape the future of Balochistan, one of Pakistan’s most underserved yet strategically critical provinces. The announcement came through a special video message from Natalie Baker, Chargé d’Affaires at the U.S. Embassy in Islamabad, who described the investment as nothing short of a “game-changer” for both American companies and local Pakistani communities. Why This Investment Matters for Balochistan: Despite its vast mineral wealth, deep-sea port access and geographic importance, Balochistan has long struggled to attract large-scale international investment. Today’s announcement marks one of the largest U.S. commercial commitments to the region in decades, signaling renewed global confidence in its economic potential. According to the U.S. Embassy, the EXIM Bank’s $1.25 billion financing facility will open the door for major American participation in infrastructure, energy and industrial development projects throughout the province. This means:• New roads, logistics networks and industrial zones• Enhanced energy access and regional power stability• Technology transfer and modern operational standards• A surge in job creation for local communities For a region where unemployment and limited connectivity have long slowed economic progress, the impact could be transformational. A Boost for Business, Partnerships and Regional Growth: Natalie Baker emphasized that this financing aligns with Washington’s long-term vision of strengthening bilateral economic cooperation with Pakistan. She noted that deeper U.S. private-sector involvement will bring: • Advanced technology• International engineering standards• Skilled workforce development• Stronger supply chains For local industries, this translates into new business opportunities, improved competitiveness and sustainable growth. Baker also highlighted that this initiative will unlock new avenues for public–private partnerships (PPPs), a model that has successfully accelerated development worldwide. Part of the U.S.–Pakistan Green Alliance: This investment is not just a financial injection; it fits into the broader U.S.–Pakistan Green Alliance framework, which focuses on: • Clean energy• Climate resilience• Sustainable development• Long-term environmental protection With global priorities shifting toward renewable energy and climate adaptation, Balochistan stands to gain from future-ready, sustainable infrastructure. A Long History of U.S.–Pakistan Cooperation: From education and agriculture to energy and public health, the U.S. has been one of Pakistan’s long-standing partners. Yet this initiative stands out as one of the most significant commercial engagements targeting underserved regions like Balochistan. The EXIM Bank framework will also enhance American exports to Pakistan, enabling U.S. companies to bring advanced machinery, engineering services and turnkey project expertise into the country, all while uplifting local communities. If implemented effectively, the EXIM financing could: • Create thousands of jobs• Improve regional connectivity• Strengthen energy security• Modernize key industries• Attract further foreign direct investment (FDI)• Support long-term economic stability For a region often overlooked in national development plans, this represents a rare moment where global capital and local opportunity align. The U.S. Embassy encourages the public to watch Natalie Baker’s complete message for insights into how this landmark financing aims to reshape opportunities for both nations.

ISLAMABAD: Prime Minister Shehbaz Sharif and Indonesian President Joko Widodo on Tuesday agreed to comprehensively review and expand the Indonesia-Pakistan Preferential Trade Agreement (IP-PTA), a $4 billion framework in force since 2012, to eliminate the existing trade imbalance that currently favours Jakarta and unlock fresh bilateral trade potential.The leaders directed their commerce ministries to immediately begin negotiations to broaden product coverage, adjust tariff concessions, and incorporate emerging sectors, particularly halal-certified food, pharmaceuticals, cosmetics, agriculture, and information technology. Both countries, home to two of the world’s largest Muslim populations, see the halal industry as a multi-billion-dollar opportunity. Read More: https://theboardroompk.com/pakistan-indonesia-mark-75-years-of-diplomacy-with-prabowos-historic-visit/ During wide-ranging talks at the Prime Minister’s Office marking 75 years of diplomatic ties, the two sides also committed to deepen investment cooperation. President Widodo offered collaboration between Indonesia’s new sovereign wealth fund Danantara and Pakistan’s Special Investment Facilitation Council (SIFC), with priority sectors including health, education, vocational training, and infrastructure.Defence and security cooperation, people-to-people contacts, and academic exchanges were also high on the agenda, with both leaders pledging to elevate the relationship to a strategic level.On regional issues, Prime Minister Sharif and President Widodo reiterated unwavering support for the Palestinian cause and a just resolution of the Jammu & Kashmir dispute in line with UN Security Council resolutions. Sharif appreciated Indonesia’s proactive diplomacy and humanitarian assistance in Gaza.Trade between Pakistan and Indonesia has grown steadily under the IP-PTA, but Pakistan’s exports remain significantly lower. Officials said the revised agreement is expected to provide greater market access for Pakistani textiles, rice, fruits, sports goods, and surgical instruments, while Indonesia seeks easier entry for palm oil derivatives, paper products, and machinery.A joint statement issued after the meeting described the visit as a “milestone” in transforming the historic fraternal ties into a robust economic partnership. President Widodo extended an invitation to Prime Minister Sharif to visit Indonesia next year.

The Pakistan Stock Exchange (PSX) closed at a historic high on Tuesday, with the KSE-100 Index finishing at 169,456.39 points, continuing its strong upward momentum. The benchmark index reached an intraday peak of 169,601.04 points, reflecting strong investor optimism following significant financial support from the International Monetary Fund (IMF). IMF’s $1.2 Billion Disbursement Drives Market Sentiment: Market confidence surged after the IMF confirmed a fresh $1.2 billion disbursement for Pakistan. The funding comes through: • The 37-month Extended Fund Facility (EFF)• The Resilience and Sustainability Facility (RSF) This approval strengthened the bullish outlook across all major sectors of the PSX, attracting both institutional and retail investors. Market Performance Summary: Key index movements for the day: • KSE-100 Index: Closed at 169,456 (+1,153 points / +0.69%)• KSE-30 Index: Closed at 51,541 (+373 points / +0.73%)• KMI-30 Index: Closed at 243,807 (+1,624 points / +0.67%)• All-Share Index: Closed at 102,478 (+679 points / +0.67%) The KSE-100 also achieved its 52-week high today. Total market turnover reached 1.02 billion shares, significantly higher than the previous session’s 683 million shares. The total traded value stood at Rs. 36.2 billion. Most Active Stocks by Volume: The highest volumes of the day came from:• K-Electric (KEL): 86.7 million shares• BankIslami (BNL): 60.2 million shares• PIA Holding Company (PIAHCLA): 41.1 million shares• Bank of Punjab (BOP): 36.7 million shares• Bank Alfalah (BML): 33.1 million sharesThese stocks drove a large part of today’s market liquidity. Top Gainers of the Day: Leading advancers showed strong double-digit gains:• TPL Corp: +12.84%• QUICE Foods: +12.74%• Soneri Bank (SNBL): +10.02%• SNAI: +10.01%• Sui Gas Pipelines (SGPL): +10.01%Small- and mid-cap stocks outperformed, reflecting aggressive buying interest. Top Decliners of the Session: A few stocks ended in negative territory:• SPLNC: -10.00%• TCORPCPS: -10.00%• NSRM: -8.00%• BFMOD: -7.83%• UVIDC: -7.82%These declines were mainly due to profit-taking. Sector-wise Performance: Sectors with the highest trading activity included:• Technology: 148.9 million shares• Power: 126 million shares• Food: 115 million shares• Banks: 93 million shares• Investment & Brokerage: 90 million shares Technology once again dominated volumes and contributed significantly to the overall market strength. Market Outlook: Analysts believe the bullish momentum is likely to continue in the coming sessions due to: • Strengthened foreign reserves after IMF inflows• Improved macroeconomic sentiment• Increased confidence from local and international investors• High liquidity flowing into equities The market’s next resistance zone is expected above 170,000 points, while strong support is visible around 167,500 points. The PSX delivered one of its strongest sessions of the year, closing at a historic high powered by IMF-driven optimism and broad-based sectoral interest. With rising trading volumes, positive economic signals, and improved investor sentiment, the Pakistan Stock Exchange appears set for continued upward momentum.

KARACHI: Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has officially launched a new international representative office in Karachi, with the goal of strengthening bilateral trade and investments between Pakistan and Dubai. The opening of the chamber’s new office comes as part of the ‘Dubai Global’ initiative, which seeks to establish 50 representative offices around the world by 2030. The initiative is designed to strengthen Dubai’s position as a leading global business hub by attracting foreign direct investment and supporting the international expansion of local companies into 30 priority markets around the world. The office was inaugurated during a ceremony held in Karachi in the presence of His Excellency Dr. Bakheet Ateeq Alremeithi, Consul General of the United Arab Emirates in Karachi, together with officials and representatives from the Pakistani business community. His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated: “The inauguration of our new office marks a strategic step that reflects our firm commitment to strengthening the robust economic partnership between Dubai and Pakistan. We aim to broaden the scope of bilateral cooperation between our business communities and advance our vision to create new paths for the flow of trade and investments. This will help drive mutual growth and enhance the ability of Pakistani companies to capitalise on emerging opportunities in Dubai.” The inauguration comes at a time of notable growth in business relations between the two markets. Pakistan’s non-oil trade with Dubai reached over PKR 1.74 trillion in 2024. Between early 2022 and end of Q3 2025, the number of Pakistani companies registered as active members of Dubai Chamber of Commerce increased by 161% to reach 33,110. A total of 6,850 new Pakistani companies joined the chamber during the first nine months of 2025 alone. The new office will play a vital role in supporting companies in both Pakistan and Dubai. It will work closely with the Pakistani business community to strengthen relationships with key public and private sector stakeholders, while showcasing Dubai’s competitive advantages as a leading global business destination. The office will also provide valuable market intelligence to help Pakistani companies establish a presence in Dubai and use the emirate as a platform for international growth. In addition, the office will support Dubai-based companies seeking to expand into Pakistan by offering expert insights into the local market, helping them identify commercial and investment opportunities, and connecting them with trusted local partners to ensure a smooth and confident entry into the market and the successful expansion of their operations.