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SECP Seeks 2.5m Investors, Highlights Rs20bn Raised Through 10 IPOs
Pakistan

SECP Seeks 2.5m Investors, Highlights Rs20bn Raised Through 10 IPOs

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SECP Focuses on Expanding Investor Base The Securities and Exchange Commission of Pakistan (SECP) has set an ambitious SECP investor target of 2.5 million participants in the country’s capital market, highlighting the need to expand investment access among Pakistan’s large and predominantly young population. The regulator shared the target during the fourth session of its Guest Lecture Series held in Islamabad, which was attended by the SECP chairman, commissioners, industry representatives and media personnel. Senior executives from Service Long March Tyres, Sitara Petroleum Services and Select Technologies also participated in the session and shared their experiences of raising capital through initial public offerings (IPOs). SECP Commissioner Muzaffar Ahmed Mirza, while welcoming participants, said Pakistan’s population of around 255 million, particularly its large young population, represents significant potential for businesses, consumers and investors. He noted that despite the country’s large population, the number of people participating in the capital market remains relatively low. The regulator is working to make investment more accessible to ordinary citizens, particularly young people and first-time investors. According to Mirza, digital onboarding and mobile-based platforms are being used to simplify the process of entering Pakistan’s capital market. The regulator believes digitalisation can remove some of the barriers that have traditionally prevented individuals from investing in listed companies and other capital market instruments. The SECP investor target of 2.5 million reflects the regulator’s broader objective of increasing public participation and creating a deeper and more inclusive capital market. Greater participation could also help companies access a wider pool of domestic capital while providing investors with additional opportunities to participate in economic growth. 10 IPOs Raise More Than Rs20bn Mirza also highlighted the performance of Pakistan’s IPO market during the first half of 2026. He said the SECP approved 10 IPOs between January and June 2026, through which companies raised more than Rs20 billion in capital. The IPO activity demonstrates the role of the capital market in providing businesses with an alternative source of financing for expansion and investment. Companies can use IPO proceeds to increase production capacity, purchase machinery, construct facilities and finance other growth initiatives. The experience of companies that recently completed listings was also discussed during the session. Service Long March Tyres Uses IPO Funds for Expansion Umar Saeed, CEO of Service Long March Tyres, explained how the company’s IPO contributed to financing its passenger vehicle radial tyre project. According to Saeed, IPO proceeds represented 24.6% of the total funding mix for the Rs22.56 billion project. He said the company is using 100% of the funds raised through the IPO to expand production capacity. Around 66% of the IPO proceeds have been allocated to plant and machinery, while the remaining 34% is being used for buildings and construction. The example highlights how public listings can help manufacturing companies mobilise capital for large-scale industrial projects. Sitara Petroleum Highlights Benefits of Listing Zaheer Baig, CEO of Sitara Petroleum Services Limited, said listing on the stock exchange provides businesses with several long-term advantages. He highlighted access to capital for growth, improved valuation, greater corporate credibility, future expansion opportunities and access to institutional investors. Baig said bringing businesses together on a single platform can create opportunities for institutional-scale growth while strengthening governance and generating opportunities for investors. His comments reflected the broader role of capital markets in connecting businesses seeking financing with investors looking for investment opportunities. Select Technologies Raises Rs3.02bn Through IPO Adnan Aftab, CEO of Select Technologies, said the company raised Rs3.02 billion through its IPO. The funds are being used to expand production capacity for smartphones, air conditioners and smart televisions. Aftab also credited the SECP’s guidance and support during the listing process, saying the regulator’s assistance contributed to the timely and effective completion of the IPO. The company’s experience was presented as another example of how capital market financing can support expansion in Pakistan’s manufacturing sector. Digital Access Key to Future Investment Growth The SECP’s latest investor expansion drive comes as Pakistan seeks to increase participation in formal investment channels. With digital onboarding and mobile platforms making account opening and investment access easier, the regulator expects more young Pakistanis to participate in the capital market. The continued growth of IPO activity could also provide companies with greater access to domestic financing while reducing their dependence on traditional sources of funding.

Houssem Ben Haj Amor Enters Forbes Middle East Top 100 CEOs 2026
Pakistan

Houssem Ben Haj Amor Enters Forbes Middle East Top 100 CEOs 2026

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Houssem Ben Haj Amor, Group Chief Executive Officer of Al Baraka Group, has been named among Forbes Middle East Top 100 CEOs for 2026, placing him among a prominent group of corporate leaders shaping the Middle East business landscape. The recognition comes at a strategically important time for Al Baraka Group, which operates through a network of banking subsidiaries across multiple markets and is seeking to strengthen its position in an increasingly competitive Islamic banking industry. Forbes Middle East recognition puts the spotlight on Ben Haj Amor’s leadership, but the bigger question for investors, customers and the wider banking industry is whether Al Baraka can convert its regional footprint into stronger, sustainable and measurable business growth. Al Baraka Group’s Strategy Under Houssem Ben Haj Amor Since taking charge as Group Chief Executive Officer, Houssem Ben Haj Amor has focused on improving coordination between Al Baraka’s banking subsidiaries while accelerating transformation and development initiatives across the Group. A central part of the strategy has been to create greater integration between subsidiaries rather than allowing individual banking operations to function in isolation. The Group is also working to diversify revenue streams, improve operational efficiency and strengthen its banking services as customer expectations and financial technology continue to reshape the sector. For an Islamic banking group operating across different jurisdictions, this integration is particularly important. Differences in regulations, customer behaviour, economic conditions and competitive pressures can make regional coordination difficult. Al Baraka’s ability to use its geographic presence as a unified business advantage will therefore remain a key test of Ben Haj Amor’s leadership. Forbes Recognition Does Not Remove the Challenges Facing Al Baraka While the Forbes Middle East Top 100 CEOs recognition is a significant professional achievement, it should not be viewed as a guarantee of future financial performance. Al Baraka Group continues to operate against a difficult backdrop of global economic uncertainty, financial market volatility, changing interest rate conditions and growing competition from conventional banks and rapidly expanding digital financial platforms. Islamic banks also face the challenge of attracting younger, technology-oriented customers while maintaining compliance with Sharia principles and preserving the trust associated with Islamic finance. Simply expanding the product portfolio will not be enough. Banks must demonstrate that their services are competitive in terms of convenience, technology, pricing and customer experience. This is where Ben Haj Amor’s strategy will face its most important test. Greater cooperation between subsidiaries can improve efficiency, but sustainable growth ultimately depends on stronger customer acquisition, digital transformation, disciplined risk management and consistent financial performance. Islamic Banking Growth Could Define the Next Phase Al Baraka Group is continuing to develop its Islamic banking products and services while targeting sustainable growth across its markets. Its diversified geographic presence gives the Group exposure to different economies and customer bases, potentially providing a buffer against weakness in any single market. However, diversification also creates complexity. Managing operations across multiple markets requires strong governance, technology infrastructure and risk controls. The success of the Group’s strategy will depend on whether these different businesses can be effectively integrated without losing their ability to respond to local market conditions. For Houssem Ben Haj Amor, the Forbes Middle East recognition provides international visibility, but the more consequential measure will be what comes next. The challenge is no longer simply to expand Al Baraka’s footprint. It is to turn that footprint into higher operational efficiency, stronger customer relationships, innovative Islamic financial products and sustainable long term growth. The Forbes listing has therefore put Houssem Ben Haj Amor in the regional spotlight. The next stage will be proving that the leadership strategy behind the recognition can deliver lasting results for Al Baraka Group and strengthen its position in the rapidly evolving global Islamic finance market.

Pakistan Receives Record $3.63bn In Remittances In July 2026
Pakistan

Pakistan Receives Record $3.63bn In Remittances In July 2026

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Pakistan received $3.63bn in workers’ remittances in July 2026, marking a strong start to the new fiscal year and providing further support to the country’s external account. According to the latest data released by the State Bank of Pakistan (SBP), Pakistan remittances July 2026 increased 4.5% from $3.47bn recorded in June 2026. On a year-on-year basis, inflows surged 13% compared with $3.21bn received in July 2025. The latest figure represents a strong monthly performance and highlights the continued contribution of overseas Pakistanis to the country’s economy. Saudi Arabia remained the largest source of remittances during the month, followed by the United Arab Emirates (UAE), the United Kingdom (UK) and the United States (US). The increase in remittance inflows comes at an important time for Pakistan as the country continues efforts to strengthen foreign exchange reserves, improve external account stability and reduce pressure from external financing requirements. Saudi Arabia Remains Top Remittance Source Saudi Arabia maintained its position as Pakistan’s largest source of workers’ remittances in July. Inflows from the Kingdom reached $913.9m, increasing 10.2% from $829.7m in June and rising 11% compared with $823.7m in July 2025. The UAE ranked second, contributing $737.3m during the month. UAE-based remittances declined 6.9% from $792.2m in June but remained 10.8% higher than the $665.3m recorded in July last year. Dubai accounted for the largest share of remittances from the UAE, sending $575.5m. Abu Dhabi contributed $135.4m, while Sharjah sent $14.2m. Other emirates collectively contributed $12.2m. The UK retained third position with remittances of $555.5m. Inflows from the country increased 7.9% from $514.9m in June and rose 23.4% from $450.3m in July 2025. The US also recorded strong growth. Pakistani workers in the US sent $317.2m in July, up 7% from $296.4m in June and 17.7% from $269.6m in the same month last year. EU Remittances Increase European Union countries collectively sent $462.1m to Pakistan during July. The amount was 11.2% higher than the previous month’s $415.4m and represented an 8.9% increase from $424.4m in July 2025. Italy was the largest contributor among EU member states, sending $142.5m. Spain followed with $82.8m, while Germany contributed $68.1m. Other major European contributors included Greece with $51.3m, France with $47.6m, Ireland with $24m and Belgium with $17.3m. Denmark contributed $8.3m, Sweden $10.9m and the Netherlands $9.3m. The figures show that Europe continues to represent an important source of foreign exchange for Pakistan, with remittances from several major economies recording year-on-year growth. Other GCC Countries Send $336.1m Other Gulf Cooperation Council (GCC) countries, excluding Saudi Arabia and the UAE, contributed $336.1m in workers’ remittances during July. The inflows increased 4.8% from the previous month and were 13.5% higher than the $296m received in July 2025. Oman was the largest contributor among these countries, sending $109.4m. Qatar followed with $98m, while Kuwait contributed $77.7m and Bahrain sent $51.1m. Other countries also made significant contributions to Pakistan’s remittance inflows. Australia sent $83.3m, Canada contributed $64.4m and South Africa sent $22.6m. Remittances from Japan reached $6.7m, while South Korea contributed $9.9m. Pakistanis in Norway sent $12.5m, while Malaysia contributed $13.5m. Switzerland sent $3.8m, with other countries collectively contributing $92.4m. PM Shehbaz Welcomes Strong Remittance Growth Prime Minister Muhammad Shehbaz Sharif welcomed the strong performance of workers’ remittances, describing the $3.6bn received in July as highly encouraging. He highlighted the 13% year-on-year increase and praised overseas Pakistanis for their continued contribution to the country’s economic stability and development. The prime minister said overseas Pakistanis are an important part of the national economic mainstream and appreciated their continued support through remittance transfers. The latest data underline the growing importance of overseas Pakistanis to Pakistan’s economy. Remittances provide households with financial support while also supplying the country with a crucial source of foreign exchange. The strong July performance could help Pakistan maintain external sector stability and strengthen confidence in its foreign exchange position. With Saudi Arabia, the UAE, the UK and the US continuing to account for a significant portion of inflows, the government and SBP are also expected to remain focused on encouraging formal banking channels for remittance transfers.

Pakistan Reaffirms Energy Security Commitment, Vows Petroleum Sector Transparency
Pakistan

Pakistan Reaffirms Energy Security Commitment, Vows Petroleum Sector Transparency

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The government has reaffirmed its commitment to strengthening Pakistan energy security, attracting investment and improving transparency in the petroleum sector as it shifts its focus towards sustainable economic growth. Speaking at a corner meeting in Lahore, Petroleum Minister Ali Pervaiz Malik said Pakistan’s next major destination after achieving important strategic and diplomatic successes was sustainable economic progress, according to a government press release. The minister said the government remained focused on delivering maximum relief to the public despite limited financial resources. He added that the administration was working to improve transparency and accountability across the petroleum sector while ensuring that consumers receive greater clarity about fuel pricing. Malik highlighted the petroleum pricing mechanism introduced under Prime Minister Shehbaz Sharif, describing it as a transparent system designed to provide the public with access to pricing information. According to the minister, all calculations related to petroleum prices are available on the website of the Oil and Gas Regulatory Authority (OGRA), allowing consumers and other stakeholders to review the factors used to determine fuel prices. The government has faced growing public attention over changes in petrol and high-speed diesel prices, particularly as fluctuations in international oil markets continue to influence domestic fuel costs. Petroleum Sector To Remain Key Investment Area The petroleum sector remains a critical part of Pakistan’s economy because the country relies heavily on imported energy to meet domestic fuel requirements. Malik said the government wanted to strengthen energy security while creating an environment capable of attracting investment into the sector. Greater investment could help improve infrastructure, enhance supply reliability and support long-term economic activity. The minister’s comments come as Pakistan continues to deal with pressure on its external account and energy import requirements. Improving transparency in petroleum pricing is also aimed at strengthening public confidence in government decisions concerning fuel prices. The government has repeatedly emphasised the importance of reducing economic vulnerabilities and improving the efficiency of the energy sector as part of its broader economic reform agenda. Minister Highlights Makkah Joint Defense Agreement During his address, Malik also discussed Pakistan’s recent diplomatic and strategic developments, particularly the Makkah Joint Defense Agreement involving Pakistan, Saudi Arabia and Türkiye. He described the agreement as a major success and said the combined strengths of the three countries could open a new chapter of regional cooperation. According to the minister, Saudi Arabia’s economic strength, Türkiye’s defence industry and the expertise of the Pakistan Army could contribute to greater regional cooperation while promoting peace and security. Saudi Arabia, Pakistan and Türkiye signed the Makkah Joint Defense Agreement on Friday, establishing a trilateral security framework aimed at strengthening collective defence and regional stability. The agreement comes amid heightened tensions across the region, including security threats affecting Gulf countries and disruptions to energy shipments. The development has also increased attention on regional energy security because Saudi Arabia and other Gulf states remain among the world’s major oil producers and exporters. Regional Cooperation And Energy Security The agreement between the three countries could have broader implications beyond defence, particularly given the strategic importance of the Middle East and South Asia’s energy supply chains. For Pakistan, stronger relations with Saudi Arabia and Türkiye could support wider economic and diplomatic cooperation. Saudi Arabia remains an important economic partner for Pakistan, while Türkiye has maintained close political and defence ties with Islamabad. Malik linked the country’s diplomatic achievements with the government’s broader economic objectives, suggesting that Pakistan now needs to translate strategic gains into sustainable economic progress. The petroleum minister’s remarks underline the government’s intention to keep energy security at the centre of its economic strategy. Pakistan’s ability to maintain reliable energy supplies, attract investment and provide transparent pricing will remain important for businesses and consumers. The government is also expected to face continued pressure to balance public relief with the rising costs associated with imported energy. With global energy markets remaining vulnerable to geopolitical tensions, officials have stressed the need for stronger energy security and greater resilience in the petroleum supply chain. The government has therefore positioned investment, transparency and regional cooperation as key elements of its strategy to strengthen Pakistan’s energy sector and support sustainable economic growth.

Karachi to Computerise Traffic Signals and Install Digital Meters in Rickshaws
Pakistan

Karachi to Computerise Traffic Signals and Install Digital Meters in Rickshaws

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Karachi Traffic Signals Set for Major Digital Upgrade The Karachi administration has launched a major initiative to modernise the city’s transportation network by computerising Karachi traffic signals and introducing digital fare meters in rickshaws. The decision was taken during a meeting of the Regional Transport Authority (RTA) Board chaired by Commissioner Karachi Hassan Naqvi. The meeting reviewed several measures aimed at improving traffic management and providing better transport facilities for residents. Officials said work on computerising traffic signals has already begun at various locations across the city. The initiative is expected to improve traffic flow, reduce congestion and enhance road safety. The adoption of digital technology could also strengthen the monitoring and management of Karachi’s increasingly complex transportation network. Smart Traffic Management System to Be Introduced The computerisation of Karachi traffic signals is one of the key components of the administration’s latest transport strategy. Officials said the first phase would focus on upgrading five major traffic intersections across the city. Initial installation work is being carried out at traffic signals near PIDC, Sindh Club and Avari Towers, which are among Karachi’s busiest areas. Authorities expect the replacement of conventional traffic control systems with computerised technology to improve traffic management and reduce delays caused by heavy vehicle movement. The initiative comes as Karachi continues to experience growing traffic congestion due to rapid urban expansion, an increasing number of vehicles and inadequate transport infrastructure. Non-Functional Traffic Signals Restored During the RTA Board meeting, Commissioner Hassan Naqvi said authorities had also made progress in restoring faulty traffic signals across the city. According to the commissioner, 12 of the 16 non-operational traffic signals identified in Karachi have been repaired and brought back into service. Officials said the restoration work has already helped improve traffic movement at several important intersections. Maintaining traffic signals in proper working condition is essential for improving road safety, managing vehicle movement and reducing unnecessary congestion. Advanced traffic management systems could further enable authorities to monitor traffic conditions more efficiently and respond more quickly to changing road conditions. Digital Rickshaw Meters Approved The Regional Transport Authority Board has also approved the installation of digital meters in rickshaws operating across Karachi. The new meters are expected to improve transparency in fare collection and reduce disputes between passengers and rickshaw drivers over transportation charges. Digital fare meters could help establish standardised fares and provide commuters with greater certainty about the amount they are required to pay. The initiative is also expected to contribute to a more organised public transport system while giving authorities improved tools to monitor transport operations and enforce fare regulations. New Bus Routes Planned for Karachi Alongside the computerisation of Karachi traffic signals and introduction of digital rickshaw meters, authorities have announced plans to expand public transport services across the city. Commissioner Hassan Naqvi directed the Regional Transport Authority to develop new bus routes based on residents’ transportation needs and travel patterns. The proposed routes are intended to improve connectivity and reduce the difficulties faced by millions of daily commuters. Karachi, Pakistan’s largest city and a major financial and commercial centre, has long faced challenges involving traffic congestion, overcrowded roads and limited public transportation options. Improved traffic management combined with expanded public transport could therefore play an important role in making urban mobility more efficient. Digital Transport Reforms Could Improve Urban Mobility The latest measures indicate a growing shift toward technology-based transportation management in Karachi. Computerised traffic signals could help authorities manage intersections more efficiently, while digital rickshaw meters may provide greater transparency for passengers and transport operators. However, the long-term success of these initiatives will depend on proper implementation, regular maintenance and effective enforcement. If the new systems are consistently maintained and integrated with broader public transport reforms, they could help reduce congestion, improve commuter experiences and strengthen traffic management across Karachi.

Soaring Production Costs, Expensive Energy Threaten Survival of Industries; Govt Urged to Take Emergency Measures
Pakistan

Soaring Production Costs, Expensive Energy Threaten Survival of Industries; Govt Urged to Take Emergency Measures

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Industrial Sector Faces Growing Pressure KARACHI: President of the SITE Association of Industry, Abdul Rehman Fudda, has urged the government to introduce immediate relief measures for the industrial sector, warning that rising production costs, expensive energy and policy uncertainty are putting the survival of industries at serious risk. In a statement, Mr. Fudda said a strong industrial base is indispensable for boosting exports, creating employment, attracting investment and ensuring sustainable economic growth. He cautioned that unless the challenges confronting manufacturers are addressed without delay, Pakistan’s economic recovery could lose momentum while fresh domestic and foreign investment may continue to decline. He noted that escalating electricity and gas tariffs, increasing production costs, high financing expenses and the absence of consistent economic policies have significantly undermined industrial activity. Despite these challenges, he said, the business community continues to keep the wheels of the economy moving, adding that further neglect of the industrial sector would be against the country’s broader economic interests. Urgent Reforms Needed to Support Manufacturers The SITE chief called upon the government to ensure the supply of energy at competitive tariffs, simplify the tax regime, expedite the payment of pending refunds, improve the ease of doing business and introduce investor-friendly policies. Such measures, he said, are essential to enable Pakistani manufacturers to compete effectively in international markets and strengthen the country’s export performance. Pakistan’s industrial sector plays a critical role in generating employment, supporting exports and attracting investment. However, elevated energy prices and other operating costs can make locally produced goods less competitive compared with products manufactured in regional markets. Policy Continuity Critical for Investment Mr. Fudda stressed that Pakistan’s industrial sector possesses enormous untapped potential, but this can only be realised through policy continuity, meaningful consultation with the private sector and timely pro-industry decisions. Uncertainty over taxation, energy pricing and economic regulations can discourage businesses from expanding their operations or making fresh investments. Greater policy consistency could therefore help businesses plan for the long term and improve investor confidence. Industrial Growth Essential for Economic Recovery He reaffirmed the industrial community’s commitment to supporting economic stability and national development, while urging the government to reciprocate by taking practical steps to restore investors’ confidence and place industrial growth at the centre of its economic agenda. The call for emergency measures highlights the growing concerns within Pakistan’s manufacturing sector. Addressing energy costs, taxation, financing challenges and regulatory uncertainty will be essential if the country is to strengthen industrial production, increase exports and create sustainable employment.

Meezan Bank Announces Financial Results for the Half Year Ended June 30, 2026 Meezan Bank Reports Rs 48.88 Billion Profit After Tax Karachi, 7th August, 2026: The Board of Directors of Meezan Bank, in their meeting approved the financial statements of the Bank for the half year ended June 30, 2026. The meeting was chaired by Mr. Riyadh S.A.A. Edrees – Chairman of the Board. The Bank reported a Profit After Tax (PAT) of Rs 48.88 billion, achieving an annualised Return on Equity of 34.7%, reflecting its ongoing commitment to enhancing shareholder value. Concurrently, basic Earnings per Share were recorded at Rs 27.15 (H1 2025: Rs 25.72). The Board approved an interim cash dividend of 80% (Rs 8.00 per share) for the second quarter of 2026. The Bank continues to maintain a strong capital position, with a Capital Adequacy Ratio above 19%, well above the regulatory requirement. Additionally, Meezan Bank remains one of the most valuable Banks in Pakistan with market capitalization exceeding USD 3.3 billion. Strong Assets and Asset Quality Total assets remained broadly stable, with the Bank closing the first half year of 2026 at Rs 5.14 trillion, compared with Rs 4.81 trillion as at December 2025. The Bank continues to demonstrate strong asset quality, with a non-performing financing ratio of 1.83%, among the lowest in the banking sector. It also maintains a prudent level of provisioning against non-performing financings, reflected in a coverage ratio of 152%. Net Spread and Non-Funded Income Show Growth The Bank’s net spread stood at Rs 128.79 billion (H1 2025: Rs 125.76 billion), representing an increase of 2%. Non-funded income increased to Rs 21.63 billion from Rs 15.92 billion in the corresponding period last year, reflecting a growth of 36%. This increase was primarily driven by higher foreign exchange income, branch banking fees, and debit card-related fees. Overall, the Bank’s Profit After Tax (PAT) rose by 6% year-on-year compared with H1 2025. SEO Optimized Keywords Meezan Bank financial results 2026, Meezan Bank profit, Meezan Bank half year results, Meezan Bank H1 2026, Meezan Bank PAT, Meezan Bank dividend, Meezan Bank interim dividend, Meezan Bank earnings, Meezan Bank Pakistan, Pakistan banking sector, Meezan Bank EPS, Islamic banking Pakistan, Meezan Bank financial performance Focus Key Phrase Meezan Bank financial results 2026 Meta Description Meezan Bank reported Rs 48.88 billion profit after tax for H1 2026 and approved an 80% interim cash dividend, with strong capital and asset quality.
Pakistan

Meezan Bank Announces Financial Results for the Half Year Ended June 30, 2026

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Meezan Bank Reports Rs 48.88 Billion Profit After Tax Karachi, 7th August, 2026: The Board of Directors of Meezan Bank, in their meeting approved the financial statements of the Bank for the half year ended June 30, 2026. The meeting was chaired by Mr. Riyadh S.A.A. Edrees – Chairman of the Board. The Bank reported a Profit After Tax (PAT) of Rs 48.88 billion, achieving an annualised Return on Equity of 34.7%, reflecting its ongoing commitment to enhancing shareholder value. Concurrently, basic Earnings per Share were recorded at Rs 27.15 (H1 2025: Rs 25.72). The Board approved an interim cash dividend of 80% (Rs 8.00 per share) for the second quarter of 2026. The Bank continues to maintain a strong capital position, with a Capital Adequacy Ratio above 19%, well above the regulatory requirement. Additionally, Meezan Bank remains one of the most valuable Banks in Pakistan with market capitalization exceeding USD 3.3 billion. Strong Assets and Asset Quality Total assets remained broadly stable, with the Bank closing the first half year of 2026 at Rs 5.14 trillion, compared with Rs 4.81 trillion as at December 2025. The Bank continues to demonstrate strong asset quality, with a non-performing financing ratio of 1.83%, among the lowest in the banking sector. It also maintains a prudent level of provisioning against non-performing financings, reflected in a coverage ratio of 152%. Net Spread and Non-Funded Income Show Growth The Bank’s net spread stood at Rs 128.79 billion (H1 2025: Rs 125.76 billion), representing an increase of 2%. Non-funded income increased to Rs 21.63 billion from Rs 15.92 billion in the corresponding period last year, reflecting a growth of 36%. This increase was primarily driven by higher foreign exchange income, branch banking fees, and debit card-related fees. Overall, the Bank’s Profit After Tax (PAT) rose by 6% year-on-year compared with H1 2025.

Gold Price in Pakistan Surges by Rs11,300 Per Tola as Investors Rush to Safe-Haven Assets
Pakistan

Gold Price in Pakistan Surges by Rs11,300 Per Tola as Investors Rush to Safe-Haven Assets

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The Gold Price in Pakistan recorded a sharp increase on Thursday, with the price of 24-karat gold climbing by Rs11,300 per tola to reach Rs449,236, reflecting renewed volatility in global precious metal markets. The latest rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) indicate that both gold and silver continued their upward momentum in the domestic market despite mixed signals from international trading. The sudden rise has once again highlighted the sensitivity of Pakistan’s bullion market to global economic developments, currency fluctuations, and investor sentiment. For consumers planning weddings, jewellery purchases, or investment in physical gold, the latest increase represents another financial hurdle in an already inflationary environment. Gold Price in Pakistan Climbs Across All Major Categories The increase was not limited to the per tola rate. The price of 24-karat gold per 10 grams also surged significantly, gaining Rs9,688 to settle at Rs385,147. Meanwhile, 22-karat gold per 10 grams was quoted at Rs353,064, reflecting higher prices across all major gold categories traded in Pakistan. Silver prices also moved upward, although at a much slower pace. Twenty-four karat silver increased by Rs35 per tola, reaching Rs6,659, while the price per 10 grams rose by Rs30 to Rs5,709. Compared to the previous trading session, gold has recorded one of its strongest single-day gains in recent weeks. On a month-on-month basis, gold has appreciated by Rs14,300 per tola, while it has gained Rs24,400 since the beginning of the fiscal year. However, despite these gains, gold remains lower by Rs7,726 compared to the start of the current calendar year, illustrating the highly volatile nature of bullion markets. Global Gold Market Remains Volatile Internationally, spot gold traded near $4,266 per ounce, slipping by around $10.8, or 0.25 percent, during the latest session. Despite the modest decline, global bullion prices continued to receive support from several macroeconomic factors. A weaker US dollar, declining US Treasury yields, and renewed optimism over a possible reopening of the Strait of Hormuz have collectively influenced investor behavior. These developments continue to reinforce gold’s traditional role as a safe-haven asset during periods of geopolitical and financial uncertainty. Analysts believe that international price fluctuations are likely to keep influencing Pakistan’s domestic bullion market in the coming weeks, particularly if global economic uncertainty persists. Why the Gold Price in Pakistan Keeps Rising Pakistan’s gold market does not operate in isolation. Domestic prices are directly linked to international bullion rates and are further influenced by the exchange rate of the Pakistani rupee against the US dollar. However, another issue deserves closer scrutiny. While consumers face record-high gold prices, the domestic market continues to suffer from limited pricing transparency. Retail buyers often encounter noticeable differences between official benchmark rates and actual market prices charged by local jewellers. The absence of stronger regulatory oversight leaves ordinary consumers with little protection against inconsistent pricing practices. Market experts have repeatedly stressed the need for greater transparency in bullion pricing and standardized retail practices to improve consumer confidence and reduce uncertainty. What Investors and Buyers Should Watch The latest rally reinforces gold’s position as a preferred hedge against economic uncertainty. Nevertheless, the sharp daily increase also serves as a reminder that bullion prices can change rapidly based on international developments. Investors should closely monitor global interest rate expectations, movements in the US dollar, geopolitical developments, and Pakistan’s exchange rate, as these factors will continue to shape the Gold Price in Pakistan over the coming weeks. For households, jewellers, and investors alike, today’s surge underscores that timing has become increasingly important in a market where price swings of thousands of rupees per tola can occur within a single trading session.

US EXIM Bank To Review $1.25bn Financing For Pakistan's Reko Diq Project
Pakistan

US EXIM Bank To Review $1.25bn Financing For Pakistan’s Reko Diq Project

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The proposed Reko Diq financing package has entered another important phase after the United States Export-Import Bank (EXIM) decided to reassess its planned financial support for Pakistan’s flagship mining project. According to officials from the United States Embassy, the financial institution will review its proposed financing package worth $1.25 billion as project authorities recalculate development costs and finalise the overall funding structure. Officials said the project remains on track despite delays in the approval process, which have resulted from adjustments to construction plans, financial requirements, and broader operational considerations. The latest development highlights the strategic importance of the Reko Diq project, which is regarded as one of the world’s largest untapped deposits of copper and gold. The project is expected to play a significant role in attracting foreign investment, increasing export earnings, and strengthening Pakistan’s long-term economic outlook. Project Costs And Funding Structure Under Review Officials from the United States Embassy told a small group of journalists that the Reko Diq financing plan is continuing to move forward despite slower-than-expected progress. According to the officials, the review process is intended to ensure that the project’s financial framework accurately reflects revised cost estimates and long-term operational requirements. The embassy representatives emphasised that the reassessment does not indicate a suspension of the project. Instead, it is intended to strengthen the financing strategy and ensure that all stakeholders remain aligned with the project’s objectives. Financial analysts believe that the review could help improve transparency while allowing authorities to develop a more sustainable financial model for the multibillion-dollar venture. Reko Diq Holds Strategic Importance For Pakistan Located in Balochistan’s Chagai district, the Reko Diq mining project is widely considered one of Pakistan’s most valuable natural resource developments. The vast mineral reserves found at the site are expected to contribute significantly to Pakistan’s export revenues over the coming decades. Industry experts believe the project could generate thousands of jobs while creating new opportunities for infrastructure development and economic activity in the surrounding region. The initiative is also expected to strengthen Pakistan’s mining industry by encouraging additional international investment and introducing modern technology and expertise into the sector. Foreign Investment Expected To Increase The Reko Diq project has attracted considerable international attention because of its economic potential and strategic importance. Experts believe successful implementation of the project could enhance Pakistan’s standing among global investors and improve confidence in the country’s mining and energy sectors. The involvement of international financial institutions and foreign investors is expected to provide the technical expertise and capital needed to develop the project efficiently. Analysts have also pointed out that growing global demand for copper, which is widely used in electric vehicles, renewable energy technologies, and industrial production, has increased the significance of the project. Gold production is also expected to provide an additional source of export earnings for Pakistan. Project Remains On Course Despite Delays Although the review process may delay the final approval of the financing package, officials have reaffirmed that the project continues to move ahead. The recalculation of project costs and the development of a revised financing structure are expected to provide greater clarity regarding future investment requirements. Government officials remain optimistic that the project will eventually become one of the country’s most important sources of foreign investment and export income.

Pakistan Battery Energy Storage Policy to Boost Local Manufacturing as Government Targets 90 Percent Clean Energy by 2035
Pakistan

Pakistan Battery Energy Storage Policy to Boost Local Manufacturing as Government Targets 90 Percent Clean Energy by 2035

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Pakistan is preparing to introduce a comprehensive Pakistan Battery Energy Storage Policy that could significantly reshape the country’s renewable energy sector by encouraging domestic manufacturing of battery energy storage systems (BESS). The proposed framework promises incentives for local producers while reducing dependence on imported storage technologies, a move that could create new industrial opportunities, generate skilled employment, and strengthen Pakistan’s long-term energy security. The announcement was made by Minister for Power Sardar Awais Ahmad Khan Leghari during the Solar Storage Flexibility 2026 Conference in Islamabad, where he revealed that the Ministry of Industries and Production is finalizing the policy before its official launch. The initiative comes at a time when Pakistan is rapidly expanding renewable energy generation but continues to rely heavily on imported battery storage solutions, exposing the country to currency volatility, supply chain disruptions, and rising technology costs. Pakistan Battery Energy Storage Policy Aims to Build a Local Industry According to the minister, the Pakistan Battery Energy Storage Policy will not merely encourage the assembly of imported products but will seek to establish domestic expertise in battery system design, engineering, integration, maintenance, and eventually full-scale manufacturing. This represents a strategic shift from simply purchasing foreign technology to developing an indigenous industrial ecosystem capable of serving Pakistan’s growing renewable energy market. If implemented effectively, the policy could attract private investment into battery manufacturing facilities, encourage technology transfer, and reduce the country’s dependence on expensive imports over the coming decade. However, achieving these objectives will require more than financial incentives. Investors typically seek regulatory certainty, consistent taxation policies, affordable financing, and long-term demand visibility before committing billions of rupees to advanced manufacturing facilities. Universities Will Play a Key Role in Battery Manufacturing Sardar Awais Leghari emphasized that universities and technical institutions must prepare a skilled workforce capable of supporting Pakistan’s emerging battery industry. The government believes higher education institutions should develop specialized programs focused on battery technology, energy storage engineering, maintenance, and research. Without qualified engineers and technicians, Pakistan’s ambition to establish a competitive domestic battery manufacturing industry could face significant challenges. Developing local expertise would also reduce reliance on foreign technical consultants while creating high-value employment opportunities for engineering graduates. Clean Energy Targets Are Ambitious but Execution Remains the Real Test The minister highlighted that nearly 55 percent of Pakistan’s electricity generation currently comes from clean energy sources. He further announced the government’s goal of increasing that share to 90 percent by 2035. The target reflects Pakistan’s commitment to accelerating its energy transition while reducing dependence on fossil fuels. Yet the announcement also raises important questions. Setting ambitious renewable energy goals has become increasingly common across developing economies, but implementation often falls behind policy announcements. Pakistan’s energy sector continues to face persistent issues including transmission bottlenecks, circular debt, delayed infrastructure projects, and inconsistent regulatory decisions. Without addressing these structural problems alongside battery manufacturing, expanding renewable generation alone may not deliver the expected improvements in grid reliability or lower electricity costs. Battery energy storage systems can play a crucial role in stabilizing the grid by storing excess solar and wind power and supplying electricity during peak demand. However, storage technology should complement broader reforms rather than substitute for them. Why the Pakistan Battery Energy Storage Policy Matters The Pakistan Battery Energy Storage Policy could become one of the country’s most significant industrial and energy reforms if accompanied by transparent implementation, investor-friendly regulations, and strong public-private collaboration. Beyond supporting renewable energy, local battery manufacturing has the potential to stimulate industrial growth, create thousands of skilled jobs, improve technology transfer, and reduce Pakistan’s growing import bill. The coming months will determine whether the policy evolves into a transformative industrial strategy or joins the long list of well-intentioned initiatives that struggled due to weak execution. For investors, manufacturers, and the renewable energy industry, the final policy framework will be closely watched as a key indicator of Pakistan’s commitment to building a competitive clean energy economy. Future Success Will Depend on Effective Implementation While the Pakistan Battery Energy Storage Policy has the potential to strengthen Pakistan’s renewable energy sector and industrial base, its long-term success will depend on effective implementation, policy consistency and sustained private-sector participation. If supported by the right regulatory environment and investment incentives, the policy could play a pivotal role in achieving the country’s clean energy ambitions while fostering a competitive domestic battery manufacturing industry.

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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