Pakistan

Karachi, July 6, 2026: Pakistan Stock Exchange Limited (PSX) released a Concept Paper on the PSX Sustainability Index (PSI), marking a defining milestone in Pakistan’s journey toward mainstream sustainable finance. The PSI is a proposed benchmark designed to identify and measure the performance of listed companies that embed financially relevant and material environmental, social, and governance risks and opportunities in their business models. Commenting on the development, Mr. Farrukh Sabzwari, Chief Executive Officer of Pakistan Stock Exchange, said: “ESG is no longer a conversation held at the margins of capital markets, it is increasingly central to how companies are valued, how capital is allocated, and how long-term risks are priced. The PSX Sustainability Index is our commitment to giving Pakistan’s capital markets a credible, transparent, and internationally comparable tool to identify companies that are not simply performing today but are building the resilience to perform tomorrow.” The PSI is designed as a total-return performance benchmark, applying a rigorous, materiality-adjusted scoring methodology across Environmental, Social, and Governance pillars. Sector-specific factor weights ensure that companies are assessed against the risks and opportunities that are genuinely financially relevant to their business, not a uniform checklist applied indiscriminately across industries. The Index is relevant to listed companies seeking recognition and access to responsible capital, asset managers and institutional investors building ESG-aligned products on a credible benchmark, and investors seeking structured exposure to companies with sustainable business models. PSX believes that broad market consultation is essential to building an index that reflects the realities of Pakistan’s corporate landscape, accommodates the current state of sustainability disclosure, and sets a clear and achievable improvement pathway for companies across all sectors. Stakeholders are invited to submit written comments no later than 17 July 2026, via email to pd@psx.com.pk. The Concept Paper is available on the PSX website at: https://dps.psx.com.pk/download/attachment/279463-1.pdf

Karachi, July 06, 2026: Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, along with leading entrepreneurs of Pakistan, visited the Arif Habib Group’s Head Office, where he met with the Group’s leadership to discuss Pakistan’s economic outlook, capital markets, the investment climate and the Government’s ongoing reform agenda. The leadership of the Arif Habib Group appreciated the Finance Minister’s stewardship of the economy during a challenging period and acknowledged the progress made in restoring macroeconomic stability. Discussions highlighted the decline in inflation to single-digit levels, the reduction in policy rates, improved fiscal and external sector indicators, strengthening foreign exchange reserves and renewed investor confidence. Pakistan’s successful progress under the IMF programme and the improvement in its sovereign ratings outlook were also recognised as important milestones in rebuilding confidence and laying the foundation for long-term economic growth. The meeting also noted the exceptional performance of Pakistan’s capital markets during this period. Since Senator Aurangzeb assumed office in March 2024, the benchmark KSE-100 Index has risen from approximately 65,000 points to over 180,000 points, while FY2026 delivered an annual return of approximately 43.5% and market capitalisation surpassed Rs. 20 trillion. The revival of IPO activity was recognised as another encouraging indicator of renewed corporate confidence and growing investor participation in Pakistan’s equity markets. While acknowledging the positive direction of the Federal Budget, participants discussed the need for further measures to stimulate private investment, create employment and enhance government revenues. The discussion recognised the Special Investment Facilitation Council (SIFC)’s priority sectors, including agriculture, mining, infrastructure and information technology, as key drivers of Pakistan’s next phase of economic growth and emphasised the importance of accelerating investment and implementation in these areas. Particular emphasis was placed on the construction sector as one of the fastest avenues for stimulating economic activity. Participants noted that revitalising construction would generate immediate employment, utilise idle capacity across allied industries, increase government revenues and deliver meaningful economic growth without adversely impacting the current account. The meeting also highlighted the opportunity to unlock the Government’s extensive land bank through public-private partnership (PPP) models, with land contributed as equity to catalyse housing and infrastructure development and accelerate project execution. The discussion further underscored the importance of Real Estate Investment Trusts (REITs) as a transparent, fully documented investment vehicle capable of mobilising domestic liquidity into productive sectors, supporting infrastructure development and broadening investment opportunities. As a pioneer of Pakistan’s REIT sector, the Arif Habib Group reaffirmed its commitment to supporting the Government in leveraging REITs and public-private partnerships to unlock investment, accelerate development, create employment and foster sustainable economic growth. Speaking on the occasion, Mr. Arif Habib, Chairman, Arif Habib Group, said: “The progress achieved in restoring macroeconomic stability has laid a strong foundation for Pakistan’s next phase of growth. The remarkable performance of the Pakistan Stock Exchange and the revival of IPO activity reflect renewed investor confidence. The next step is to translate this stability into higher investment, greater employment and sustained economic expansion. Accelerating development across the SIFC’s priority sectors, while revitalising construction through public-private partnerships and wider utilisation of REITs, presents one of the fastest and most effective opportunities to create jobs, enhance government revenues and unlock Pakistan’s economic potential. The private sector stands ready to partner with the Government in achieving these objectives.” Senator Muhammad Aurangzeb thanked the Arif Habib Group for its continued contribution to Pakistan’s economy and capital markets and reaffirmed the Government’s commitment to maintaining macroeconomic stability, implementing structural reforms and fostering an investment-friendly environment through continued collaboration with the private sector. “The Government remains committed to maintaining macroeconomic stability while implementing structural reforms that strengthen Pakistan’s competitiveness and improve the ease of doing business. Sustainable economic growth will be driven by private sector investment, vibrant capital markets and continued collaboration between government and industry. We value the constructive engagement of institutions such as the Arif Habib Group in supporting Pakistan’s economic development.” The meeting concluded with a shared commitment to maintaining close engagement between policymakers and the private sector to deepen Pakistan’s capital markets, encourage productive investment, expand employment opportunities and support Pakistan’s long-term economic growth.

The Pakistan Telecommunication Amendment Bill has come into focus after the federal government clarified that no telecommunications infrastructure can be installed on private property without the explicit consent of the owner. The clarification follows public concerns that proposed amendments could allow telecom companies to access private land without the approval of property owners. Speaking at a joint press conference in Islamabad, Federal Minister for Law and Justice Azam Nazeer Tarar and Federal Minister for Information Technology and Telecommunications Shaza Fatima Khawaja sought to remove confusion surrounding the proposed legislation while outlining the government’s roadmap for expanding digital connectivity and launching 5G services across Pakistan. Property Owner Consent Remains Mandatory The government stated that the revised Pakistan Telecommunication (Re-organization) (Amendment) Bill fully protects the constitutional rights of property owners. Law Minister Azam Nazeer Tarar said the updated draft explicitly requires a property owner’s consent before any right-of-way can be granted over privately owned land. The clarification addresses concerns raised after an earlier version of the bill sparked debate over whether telecom operators could install communication infrastructure without the approval of landowners. According to the minister, the revised legislation removes any ambiguity by clearly stating that neither telecommunications companies nor government agencies can bypass the owner’s permission when seeking access to private property. Bill Introduces Clearer Legal Definitions The proposed legislation also introduces more precise legal definitions aimed at eliminating uncertainty surrounding telecommunications infrastructure. The revised draft defines key terms including: According to the law minister, these definitions are intended to reduce legal confusion and improve transparency in future infrastructure projects. The bill had previously been passed by the National Assembly with six amendments. However, observations raised by the Senate Standing Committee prompted the government to revise several provisions before moving ahead. Rising Internet Demand Drives Telecom Reforms Defending the proposed amendments, IT Minister Shaza Fatima Khawaja said Pakistan’s telecommunications laws must evolve to meet the demands of a rapidly expanding digital economy. She noted that internet data consumption in Pakistan has increased by nearly 25 percent over the past two years, placing growing pressure on existing telecom infrastructure. According to the minister, expanding digital services, cloud computing, e-commerce, digital banking, online education, and artificial intelligence applications all require stronger communication networks. She warned that without significant infrastructure investment, Pakistan could struggle to keep pace with regional digital development. Government Accelerates 5G Rollout Plans The government also shared new details about Pakistan’s upcoming 5G rollout. Shaza Fatima Khawaja said available telecom spectrum has increased from 274 MHz to nearly 750 MHz through what she described as Pakistan’s largest-ever spectrum auction. However, she emphasized that substantial investment is still required before nationwide commercial 5G services can be introduced. According to the minister, successful deployment will require major expansion of: Industry experts believe these investments could support digital transformation, industrial automation, smart city initiatives, and broader access to high-speed internet. Fiber Broadband Expansion Targets 10 Million Homes The government also announced ambitious plans to expand fiber broadband connectivity across Pakistan. Despite a population of nearly 240 million, Pakistan currently has fewer than three million fiber-to-the-home (FTTH) connections. The government now aims to increase that figure to 10 million households within the next three years. Officials believe wider fiber connectivity will improve internet speeds, support businesses, encourage digital entrepreneurship, and strengthen the country’s readiness for next-generation technologies. Government Seeks Balance Between Growth and Rights Responding to criticism over right-of-way provisions, Shaza Fatima Khawaja said expanding internet access remains one of the government’s top priorities. She assured citizens that digital infrastructure development would not come at the expense of constitutional protections or private property rights. The government’s clarification is intended to restore public confidence while providing telecom operators with a transparent legal framework for future network expansion. Amendment Bill Aims to Support Pakistan’s Digital Future The Pakistan Telecommunication Amendment Bill is expected to provide greater legal certainty for telecom operators, investors, and property owners alike. For telecom companies, it offers clearer procedures for infrastructure deployment. For investors, it reduces uncertainty by defining right-of-way rules more precisely. Most importantly, the government has reaffirmed that property owner consent remains a legal requirement before telecommunications infrastructure can be installed on private land. As Pakistan moves toward nationwide 5G adoption and large-scale fiber expansion, the revised bill seeks to balance individual property rights with the infrastructure needed to support the country’s long-term digital transformation.

KARACHI: President of the Korangi Association of Trade and Industry (KATI), Muhammad Ikram Rajput, has expressed concern that despite substantial reductions in petroleum prices, the benefits have yet to reach the general public, leaving low- and middle-income households under continued pressure from high inflation. In a statement, Rajput said the public had expected prices of essential commodities to decline following the reduction in fuel prices. However, contrary to those expectations, transport fares, freight charges, and other costs that were previously increased on the pretext of higher petrol and diesel prices have not been revised downward. He noted that prices of basic necessities continue to remain at elevated levels, adding to the financial burden on both consumers and the industrial sector. Referring to the latest data released by the Pakistan Bureau of Statistics (PBS), Rajput said the country’s annual inflation rate stood at 11.07 percent last month, indicating that government measures aimed at stabilizing prices have yet to produce the desired results. The KATI president also highlighted the lack of effective market oversight, particularly in Karachi and other parts of the country, where profiteering and hoarding continue to inflate the prices of essential goods. He urged the relevant authorities to launch indiscriminate action against hoarders and profiteers and ensure strict implementation of officially notified prices. Rajput called on the government to ensure that the reduction in petroleum prices translates into tangible relief for the public. He urged the authorities to immediately reverse increases in transport and freight charges that were imposed due to higher fuel prices and to strengthen the price control mechanism to bring down the cost of essential commodities. “Unless the government effectively enforces price controls and passes on the benefits of lower fuel prices to consumers, inflationary pressures will continue to affect households and businesses alike,” he said, adding that restoring public confidence requires timely and practical measures that deliver real economic relief.

Pakistan’s renowned football manufacturing industry received prominent international exposure during the live screening of the FIFA World Cup 2026 match between Uzbekistan and Portugal in Tashkent. The event highlighted the country’s export excellence. Sialkot’s Craftsmanship in Spotlight Trade Diplomacy Boosts Exports Federal Minister for Commerce Jam Kamal Khan praised the Pakistan Trade Mission in Tashkent for effectively promoting national manufacturing capabilities at this major sporting platform. He described it as smart public diplomacy. The initiative reached thousands of Uzbek football fans and international viewers. It projected Pakistan’s industrial strength, quality standards, and positive soft image abroad. Pakistan takes pride in its globally recognised football production, especially from Sialkot. The city’s artisans supply premium balls for top international tournaments. At Bunyodkor Stadium and Humo Arena, the Trade Mission showcased the “Trionda” – the official FIFA World Cup 2026 match ball. It was proudly manufactured in Sialkot by Forward Sports. A promotional documentary on Forward Sports was translated into Uzbek and screened before the match. This helped local audiences appreciate Pakistan’s expertise in high-quality sports goods. Minister Jam Kamal Khan emphasised that such events position Pakistan as a reliable, competitive manufacturing hub. They enhance export potential and build business confidence globally. The mission also presented a Pakistan-made Trionda football to Tashkent City Governor Shavkat Umurzakov. The gesture symbolised friendship and growing partnership between the two nations. This promotional activity strengthens trade and economic ties with Uzbekistan. It opens doors for further collaboration in sports goods and other sectors. Sialkot’s sports industry contributes significantly to Pakistan’s exports. Its products are used in major leagues and tournaments worldwide, earning the country a strong reputation. The Commerce Minister noted that visibility at high-profile events like the FIFA World Cup can drive higher orders and market expansion. It helps counter perceptions and highlights quality. The Trade Mission plans more such events in coming weeks. These will continue showcasing Pakistan’s manufacturing prowess to Uzbek businesses and consumers. For Pakistan’s economy, sports goods remain a key export category. Initiatives like this support diversification efforts and job creation in industrial hubs like Sialkot.