Corporate announcements on Pakistan Stock Exchange (PSX)
KARACHI: Shares of Engro Polymer & Chemicals Limited (EPCL) surged 2.11% and Lotte Chemical Pakistan shares climbed 2.88% in early trading Tuesday after Engro Corp announced it had entered into a share purchase agreement to sell its entire stake in EPCL to Lotte. The deal covers Engro’s approximately 56.19% shareholding in EPCL and is valued at roughly Rs19.7…
KARACHI: Pakistan’s government has unveiled a comprehensive roadmap for transforming the country’s financial sector into a fully Shariah-compliant system, setting the stage for one of the most significant economic transitions in the country’s history as a constitutional deadline approaches. A strategy paper released this month, “Post-2027 Financial System in Pakistan,” lays out how the country intends to eliminate…
KARACHI: Pakistan’s oil marketing companies (OMCs) are poised to report a sharp jump in third-quarter earnings on the back of forced inventory gains from a dramatic spike in global petroleum prices, according to a research note by Insight Securities (ISL) seen by Reuters. The report, dated April 10, 2026, said motor spirit (gasoline) prices climbed…
KARACHI: The Government of Pakistan on Wednesday executed petroleum exploration agreements for one offshore and two onshore blocks with a consortium of state-run and foreign firms, the country’s largest explorer said in a statement. The agreements, signed on Dec. 2, involve the Oil & Gas Development Company Limited (OGDCL), Turkey’s state-owned Turkish Petroleum Oil Company…
ISLAMABAD – Pakistan’s technology exports surged to an all-time high of $386 million in October, officials said on Monday, driven by regulatory reforms and growing global clientele, putting the sector on track to become a major source of foreign exchange. The October data, released by the central bank, marks a 17% increase from the same month…
ISLAMABAD: Pakistan’s power regulator has approved the registration of the Central Power Purchasing Agency (CPPA-G) as a Special Purpose Agent (SPA), a key step in the country’s long-delayed electricity market reforms, but curtailed its future role by strictly limiting it to managing pre-existing contracts. The decision, detailed in a determination by the National Electric Power…
KARACHI: The Pakistan Stock Exchange (PSX) has launched its End-of-Day (EOD) Market Data Product on the Deutsche Börse Data Shop, marking a strategic step toward global data integration and commercial innovation. The initiative, developed in collaboration with Deutsche Börse AG—PSX’s exclusive international licensor and a leading provider of financial data services—aims to enhance the visibility…
KARACHI: Oil and Gas Development Company Ltd (OGDCL) said its board has approved an increase in its committed expenditure for the Reko Diq copper and gold project to $715 million, up from a previous commitment of $627 million, following revised development and financing estimates. The revised funding commitment includes project financing costs and reflects updated…
LAHORE: Pakistan’s pharmaceutical industry reached a historic high of 1.049 trillion rupees ($3.77 billion) in the first quarter of 2025, marking a 20.62% growth compared to the same period last year, according to a report by IQVIA. The industry’s compound annual growth rate (CAGR) over the past five years stands at 19.09%, driven by strong…
KARACHI: Pharaon Investment Group Limited (PIGL), the majority shareholder of Attock Cement Pakistan Ltd. (ACPL), is exploring a potential exit from its stake in the company, drawing attention from multiple strategic investors amid a period of expansion and valuation re-rating across the cement sector. According to disclosures reaffirmed in May 2025, PIGL is evaluating various…
ISLAMABAD: Oil & Gas Development Company Limited (OGDC) on Thursday announced the signing of a Production Concession Agreement (PCA) for the development of Offshore Block 5 in Abu Dhabi, solidifying its participation in an international upstream venture through a consortium-based initiative. The agreement was executed between the Supreme Council for Financial and Economic Affairs, representing…
ISLAMABAD: Pakistan has introduced a new tax targeting multinational digital companies with significant user bases in the country but little to no physical presence, marking a major shift in how foreign tech firms are taxed. The Digital Presence Proceeds Tax Act, 2025, which took immediate effect, aims to address tax base erosion caused by the current…