ISLAMABAD: Pakistan’s economy is stabilizing under a stringent International Monetary Fund (IMF) program, but growth remains sluggish amid global uncertainty and domestic fiscal adjustments, according to a new IMF country report released Monday. Pakistan’s GDP growth for fiscal year 2025 has been revised down to 2.6%, reflecting weaker-than-expected performance in the first half of the…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
Pakistan’s oil and gas sector: increased exploration and government support
ISLAMABAD: Pakistan’s oil and gas sector is poised for growth as the government accelerates exploration efforts, improves liquidity, and addresses long-standing challenges in the energy sector, according to a report issued by AKD Securities. Recent developments, including the allocation of new exploration blocks and rationalized gas prices, are expected to revive exploration and production (E&P) activities,…
Pakistan awards provisional petroleum exploration rights for 7 new blocks
ISLAMABAD: Pakistan’s Ministry of Energy has provisionally awarded petroleum exploration rights for seven new blocks to a consortium of local and international energy firms, including Oil and Gas Development Company Limited (OGDCL), officials announced Tuesday. The blocks, located in Balochistan, Sindh and Punjab provinces, were awarded following a competitive bidding round held in April. The…
Cherat Cement and Shirazi Investments intend to acquire majority stake in Rafhan Maize
KARACHI: Cherat Cement Company and Shirazi Investments Pvt. Ltd. have jointly announced their intention to acquire a controlling stake of up to 75.69% in Rafhan Maize Products Company Ltd., signaling a significant transaction in Pakistan’s corporate sector. Under the proposed acquisition plan, each firm seeks to obtain 37.845% of Rafhan Maize’s shares. The company, currently…
Pakistan urged to establish dedicated cryptocurrency regulatory unit, develop digital currency
The Institute of Cost & Management Accountants of Pakistan (ICMAP) has recommended the creation of a dedicated regulatory unit within the Securities & Exchange Commission of Pakistan (SECP) or the State Bank of Pakistan (SBP), in collaboration with the Federal Board of Revenue (FBR), to oversee cryptocurrency regulations. The proposal aims to ensure inclusive and…
Competition regulator targets deceptive practices in online marketplaces
The Competition Commission of Pakistan (CCP) held talks with leading digital marketplaces, PakWheels and OLX Pakistan, to address concerns over anti-competitive practices and deceptive marketing in the country’s growing online economy. The discussions focused on ensuring fair competition and consumer protection in digital marketplaces. Representatives from both platforms met with regulators to outline compliance measures and…
Pakistan’s Green Sukuk Framework: Investing in a Sustainable Future
Pakistan’s federal cabinet has approved the Sustainable Investment (SI) Sukuk Framework, marking a significant step toward financing climate-resilient and socially impactful projects through Islamic bonds. The framework, introduced by the Ministry of Finance, enables the issuance of Green Sukuk, Social Sukuk, and Sustainability Sukuk, collectively known as SI Sukuk, to mobilize domestic capital for environmentally and socially beneficial…
Honda plans to launch hybrid electric vehicles (HEVs) in Pakistan
KARACHI: Honda Atlas Cars has announced its intention to introduce Hybrid Electric Vehicle (HEV) models in Pakistan in the near future. The company formally disclosed this development in a notification submitted to the Pakistan Stock Exchange (PSX) on Friday. According to company officials, this initiative aligns with Honda’s global commitment to innovation, environmental sustainability, and providing advanced…
Pakistan moves to resolve power sector circular debt, aims to reduce electricity bills
ISLAMABAD: Pakistan’s government is taking steps to resolve the power sector’s circular debt, which has reached 2.4 trillion Pakistani rupees (PKR), and is working to reduce electricity tariffs for consumers, according to recent reports and analysis. The government plans to address the circular debt, which includes PKR 1.7 trillion owed to power generation companies and…
Payoneer partners with Meezan Bank to enhance cross-border payments for Pakistani businesses
Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business, and grow globally, has partnered with Meezan Bank, Pakistan’s leading Islamic bank, to enhance cross-border payments for Pakistani SMBs, entrepreneurs, and freelancers. The signing ceremony took place at Meezan Bank’s Head Office, attended by Syed Amir Ali,…
Pakistan’s banking sector contributes heavily to national development, faces challenges
Pakistan’s banking sector remains a cornerstone of the nation’s economic development, contributing significantly to tax revenues, employment, and financial inclusion, according to a recent address by Zafar Masud, Chairman of the Pakistan Banks Association (PBA). However, the sector faces challenges as it navigates a rapidly changing global economic landscape and addresses domestic criticisms. Tax Contributions and…
IFC commits $20 billion investment in Pakistan over next decade
The International Finance Corporation (IFC), an arm of the World Bank, announced plans to invest $2 billion annually in Pakistan over the next ten years. This $20 billion investment will focus on water-related projects, infrastructure development, energy, and ports. IFC Chief Makhtar Diop met with Finance Minister Muhammad Aurangzeb to discuss the expansion of investments…