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                        <title>Latest Business News and Business News Headlines | Business</title>
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                        <description>The Express Tribune keeps you up to date with all the latest happenings from Pakistan and across the world!</description>
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			<title>PSX sheds over 900 points in mid-session trading</title>
			<link>https://tribune.com.pk/story/2617307/psx-sheds-over-900-points-in-mid-session-trading</link>
			<comments>https://tribune.com.pk/story/2617307/psx-sheds-over-900-points-in-mid-session-trading#comments</comments>
			<pubDate>Thu, 09 Jul 26 07:42:22 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617307</guid>
			<description>
				<![CDATA[Index touches an intra-day high of 182,276.81, low of 179,411.35, indicating volatility in session]]>
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				<![CDATA[The Pakistan Stock Exchange (PSX) witnessed a bearish trend during midday trading on Thursday, with the benchmark KSE-100 Index declining by over 900 points amid profit-taking and cautious investor sentiment.

The KSE-100 Index stood at 180,701.35 points, reflecting a loss of 928.01 points or 0.51 percent from the previous close of 181,629.36. The Index touched an intra-day high of 182,276.81 and a low of 179,411.35, indicating volatility in the session.

Trading volume reached 200.2 million shares, while the total traded value stood at Rs13.84 billion. Market breadth showed mixed participation across sectors.

Analysts noted that early gains were erased as investors did panic selling following recent Middle East tensions. Key sectors, including banking, oil and gas, and automobiles, faced selling pressure. The market opened on a positive note but could not sustain momentum amid concerns over global cues and domestic economic indicators.

Read:&nbsp;PSX dives 4600 points over ME tensions

The broader market sentiment remains influenced by expectations around macroeconomic trends and ongoing developments in the energy sectors. Investors are closely monitoring upcoming corporate earnings and any policy signals from the State Bank of Pakistan.

Market participants believe the current dip could present buying opportunities for fundamentally strong stocks, though short-term caution persists.

The KSE-100 Index has shown resilience in recent weeks but remains sensitive to both local and international triggers.]]>
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			<title>IMF keeps growth forecast low at 3.5%</title>
			<link>https://tribune.com.pk/story/2617257/imf-keeps-growth-forecast-low-at-35</link>
			<comments>https://tribune.com.pk/story/2617257/imf-keeps-growth-forecast-low-at-35#comments</comments>
			<pubDate>Thu, 09 Jul 26 00:09:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Shahbaz Rana]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617257</guid>
			<description>
				<![CDATA[Warns renewed Middle East conflict could heighten price volatility]]>
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				<![CDATA[The International Monetary Fund (IMF) on Wednesday kept Pakistan&#39;s economic growth forecast unchanged at 3.5% for the new fiscal year, while warning about the possibility of a renewed Middle East conflict that could heighten price volatility.

In an update to its World Economic Outlook (WEO) report, the IMF showed Pakistan&#39;s economic growth rate at 3.5%, with no change in the outlook compared to its last two reports since April this year.

The report suggests that Pakistan&#39;s economy will marginally slow down in the new fiscal year compared to the estimated 3.7% growth achieved in the previous fiscal year. The government has set a growth target of 4% for FY2026-27, which is even lower than the 6% rate needed to create 4.5 million jobs annually to reduce high poverty and unemployment.

Prime Minister Shehbaz Sharif&#39;&#39;s two terms since 2022 have failed to create enabling conditions for economic acceleration without triggering fiscal and external crises.The IMF&#39;s global report coincides with renewed attacks by Iran and the United States against each other&#39;s commercial and military installations, endangering the fragile temporary ceasefire.

&quot;The possibility of renewed Middle East conflict looms large and could extend commodity price volatility, further threaten supply chains, raise prices, and weigh on financial conditions,&quot; according to the report. Trade fragmentation could accelerate, possibly hurting output and increasing prices, it added.

The IMF said renewed conflict would propagate through a further increase in commodity prices and extended volatility, supply shortages, and exchange rate pressures. The muted increase in oil prices and their contained impact on activity owe to the release of inventories, which are now getting closer to multiyear lows and could reach stress levels should supply disruptions persist or hoarding gather steam, it added.

After the US withdrew Iran oil export permission coupled with aerial attacks, crude oil prices have shot up by $8 per barrel within two trading days. As a result, diesel prices for Pakistani imports have increased by $5 so far, while petrol prices remained largely stable, which may lead to upward price adjustments on Friday if no corrections are seen in two days.

The IMF said global headline inflation is expected to increase from 4.1% in 2025 to 4.7% in 2026 before declining to 3.9% in 2027. These projections indicate that the disinflation trend in place since early 2024 has stalled, it added.

The IMF said global economic activity and the outlook are being shaped by two major forces pushing in opposite directions: the negative supply shock induced by the war in the Middle East and the ongoing positive technology shock manifesting in accelerated momentum of the global technology cycle, driven by advances in artificial intelligence (AI) tools.

The IMF said movements in and repercussions from the main channels of transmission have been relatively limited.

However, transmission is still in its early stages &ndash; commercial and strategic destocking have provided temporary relief from reduced energy flows, while forward-looking indicators such as supply-chain pressures and manufacturing purchasing managers&#39; indices point to softer momentum ahead, though some countries are experiencing more strain than others.

The average petroleum spot price index is projected at $89 per barrel, 9% higher than assumed under the reference forecast in the April 2026 report, and natural gas prices at $15, 5% higher than the April reference forecast price.

The relatively muted increase in global oil prices reflects the fact that part of the decrease in oil flows through the Strait of Hormuz has been offset by a drawdown of inventories, reducing the need for oil consumption and production to adjust through prices. Global economic growth is projected at 3% in 2026 and 3.4% in 2027, down from the average of 3.5% observed in the last two years. The forecast is broadly unchanged compared with the April 2026 WEO.

The modest slowdown reflects the effects of the Middle East war being partly offset by accelerated demand-driven momentum in the global technology cycle thanks to advances in AI and its adoption.

The impact varies widely based on countries&#39; exposure to the war and their position in the technology value chain. Energy exporters outside the conflict zone benefit from favourable terms of trade, while economies integrated into the technology-led upturn see stronger activity even if they are energy importers, according to the report.

In the Middle East and Central Asia, growth is projected to drop sharply to 0.7% in 2026 before rebounding to 6.5% in 2027. This represents a downward revision of 1.2 percentage points for 2026 and an upward revision of 1.9 percentage points for 2027, reflecting a longer closure of the Strait of Hormuz relative to the April WEO assumptions and a corresponding larger rebound.Iraq, Kuwait, and Qatar &ndash; commodity producers most affected by disruptions to energy output and transport &ndash; are projected to experience sharp contractions in 2026, followed by double-digit expansions in 2027. Saudi Arabia is somewhat less affected, with growth forecasts of 1.7% in 2026 and 5.5% in 2027.]]>
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			<title>Oil rises after US launches fresh strikes on Iran</title>
			<link>https://tribune.com.pk/story/2617298/oil-rises-after-us-launches-fresh-strikes-on-iran</link>
			<comments>https://tribune.com.pk/story/2617298/oil-rises-after-us-launches-fresh-strikes-on-iran#comments</comments>
			<pubDate>Thu, 09 Jul 26 06:35:06 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Brent crude futures rise 86 cents, or 1.1%, to $78.88 a barrel]]>
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				<![CDATA[Oil prices rose more than 1% on Thursday after the US&nbsp;carried out&nbsp;fresh strikes&nbsp;on &zwnj;Iran, denting hopes for talks to end their war and for the full reopening of the Strait of Hormuz, a chokepoint for one-fifth of pre-war global oil supplies.

Brent crude futures rose 86 cents, or 1.1%, to $78.88 a barrel. US&nbsp;West Texas Intermediate crude futures were up 85 cents, or 1.2%, at $74.37 a ​barrel.

Both crude benchmarks, WTI and Brent, rose more than a dollar in&nbsp;post-settlement trade&nbsp;on ⁠Wednesday after the US&nbsp;military began launching fresh strikes on Iran.

Before that, the benchmarks had settled at ​their highest in over two weeks after US&nbsp;President Donald Trump&nbsp;threatened new attacks on Iran.

&quot;Fresh US strikes ​on Iran pushed oil higher this morning, with the latest escalation undermining confidence in the fragile ceasefire,&quot; said ING analysts in a client note.

The US&nbsp;military said it completed strikes on Iran aimed at keeping the critical Strait of Hormuz open ​to traffic, hours after President Donald Trump declared that an interim agreement to end the war was &quot;over&quot;.

US&nbsp;​forces struck approximately 90 Iranian military targets, which included air defense systems, coastal surveillance assets, missile and drone storage sites, &zwnj;naval ⁠capabilities, and military logistics infrastructure along Iran&#39;s coastline, US&nbsp;Central Command said.

Read:&nbsp;Oil rises as US strikes on Iran raise fears over shaky truce

Iran earlier said on Wednesday it attacked US&nbsp;military sites in Bahrain and Kuwait in response to earlier US&nbsp;strikes on infrastructure.

A fifth of global oil and liquefied natural gas supplies traversed the Strait of Hormuz before the Iran war, and Tehran&#39;s ​control of the waterway ​has been its&nbsp;main leverage&nbsp;⁠in a conflict that started with US&nbsp;and Israeli airstrikes against Iran on February 28.

The rush of oil that passed through the strait in recent weeks is ​over for now, with shipowners expected to take a more cautious stance, ​IG analyst Tony ⁠Sycamore said in a note.

Despite the interim peace deal between Washington and Tehran, &quot;significant geopolitical risks remain,&quot; said DBS Bank&#39;s head of energy research Suvro Sarkar, expecting conflict uncertainty to support prices in the near term.

&quot;We believe ⁠Iran has ​every incentive to prolong these discussions, suggesting that the war ​risk premium in oil prices may not fully dissipate for several months, leading to continued volatility despite an overall downward price trajectory ​in the medium term&quot;.]]>
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			<title>SBP targets Rs1.5tr SME credit</title>
			<link>https://tribune.com.pk/story/2617254/sbp-targets-rs15tr-sme-credit</link>
			<comments>https://tribune.com.pk/story/2617254/sbp-targets-rs15tr-sme-credit#comments</comments>
			<pubDate>Thu, 09 Jul 26 00:09:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Usman Hanif]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617254</guid>
			<description>
				<![CDATA[Governor urges banks to scale up borrowers; documentation key barrier]]>
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				<![CDATA[The State Bank of Pakistan (SBP) has set an ambitious target to raise small and medium-sized enterprises (SMEs) financing to Rs1.5 trillion by June 2028, with plans to expand the number of SME borrowers to 750,000, Governor Jameel Ahmad announced on Wednesday.

Addressing the Pakistan Banking Summit 2026 as the keynote speaker, Governor Ahmad described expanding financing to priority sectors like SMEs, agriculture, and affordable housing as one of the most important challenges and opportunities for the banking industry.

Sustainable economic growth requires a banking system that supports productive investment, he said. &quot;Agriculture, SMEs, and affordable housing are critical drivers of employment, exports, and economic resilience. Yet they continue to face significant financing gaps.&quot;

According to the governor, outstanding SME financing has more than doubled between June 2021 and December 2025, while the number of SME borrowers increased by around 75%. He termed these results encouraging but insufficient, urging banks to scale up efforts through innovation.

Zafar Masud, President and CEO of the Bank of Punjab, who also serves as Chairman of the Pakistan Banks&#39; Association (PBA), highlighted practical challenges in SME lending during a sideline conversation with The Express Tribune.

&quot;The main challenge for private sector SME credit is that businesses are not documented, so banks cannot assess them properly,&quot; Masud said. &quot;They will have to get them registered and pay taxes to be able to avail the banking financing.&quot;

His remarks underline a key barrier to formal credit expansion: the large undocumented segment of the economy and the need for businesses to integrate into the formal system.

The SBP&#39;s strategy moves away from heavy reliance on directed lending towards an enabling ecosystem. This includes regulatory reforms, digital innovation, risk-sharing mechanisms, and capacity building. Specific initiatives encompass the SME Asaan Finance Scheme, the Risk Coverage Scheme for SMEs, and the Prime Minister&#39;s Youth Business and Agriculture Loan Scheme.

Recent regulatory changes have enhanced financing limits, expanded clean financing within the regulatory retail portfolio, simplified loan procedures, and revised prudential regulations for SMEs. These steps aim to provide banks with greater flexibility to adopt technology, partner with fintechs, and design innovative products such as digital supply chain financing and cash flow-based lending using alternative data.

Ahmad encouraged banks to develop sector-specific products aligned with the cash-flow cycles of SMEs and agriculture while reducing dependence on government schemes. &quot;The policy framework is now firmly in place. The next step is to translate these opportunities into scale through innovation, partnerships, and sustained commitment from the banking industry,&quot; he added.

The SME push forms a core part of SBP&#39;s Vision 2028, which also prioritises digital transformation, he said. Over 92% of retail financial transactions are now processed digitally, supported by 268 million financial accounts and more than 49 million Raast IDs. The central bank has also mandated digitisation of all government disbursements through secure digital wallets.

Atif Bajwa, CEO of Bank Alfalah and Chairman of the Pakistan Banking Summit, echoed the need for deeper alignment between banks and national priorities in his address. He highlighted that discussions over the two days underscored the importance of expanding access to finance across agriculture, SMEs, housing, climate, and the environment.

&quot;Particular emphasis also needs to be placed on women&#39;s participation in the workforce and in business. Bringing more women into the formal economy is not only a social priority, but also an economic opportunity for Pakistan,&quot; Bajwa said.

He called on banks to reflect honestly on shortcomings and invest more aggressively in technology and human capital. &quot;Technology is fundamentally changing the way banking is done Yet, as an industry, we are still not investing enough in technology,&quot; he noted, advocating for greater collaboration among banks to manage the high costs and risks of digital infrastructure.

Bajwa also stressed the importance of ethics, customer-centric practices, and regulatory reforms across the broader economy. He urged banks to support capital formation, equity markets, and market-based mechanisms while improving the sector&#39;s public perception through evidence-based dialogue.

The SBP governor presented an optimistic macroeconomic outlook to support long-term investments. Despite challenges from the Middle East conflict and earlier floods, average inflation in FY26 stood at 7.05%. Real GDP growth reached a robust 4% during July-March FY26 and is provisionally estimated at 3.7% for the full year. The current account remained in surplus, and foreign exchange reserves have risen above $18.4 billion.

&quot;The macroeconomic environment remains conducive for our financial sector to undergo the necessary transformation,&quot; he said, adding that growth momentum is expected to pick up in FY27.

Ahmad reiterated the need for cyber resilience, data governance, and trust-building as digital adoption accelerates.]]>
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			<title>Oil sector assured of PDC payment</title>
			<link>https://tribune.com.pk/story/2617259/oil-sector-assured-of-pdc-payment</link>
			<comments>https://tribune.com.pk/story/2617259/oil-sector-assured-of-pdc-payment#comments</comments>
			<pubDate>Thu, 09 Jul 26 00:09:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[ZAFAR BHUTTA]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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				<![CDATA[Key focus in meeting with OGRA remains on outstanding Rs66b price differential]]>
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				<![CDATA[The Oil and Gas Regulatory Authority (Ogra) on Wednesday assured the downstream petroleum industry that it would share a revised framework and implementation timeline for the settlement of long-pending price differential claims (PDCs), following a meeting with chief executives of oil marketing companies (OMCs).

The meeting, chaired by Ogra&#39;s new leadership, brought together chief executives of more than 30 OMCs in what industry participants described as a constructive engagement after years of unresolved issues and repeated representations by the Oil Companies Advisory Council (OCAC).

During the meeting, the OCAC chairman and the Oil Marketing Association of Pakistan (OMAP) chairman highlighted the financial and regulatory challenges confronting the downstream petroleum sector. The primary focus remained on the settlement of outstanding PDCs, with unpaid claims exceeding Rs66 billion. Industry representatives also urged the regulator to simplify the verification mechanism by reverting to a purchase-based assessment, arguing that it would expedite claim processing and reduce disputes.

According to the participants, Ogra agreed to circulate revised terms of reference (TORs) for the PDC verification process along with a timeline to settle the outstanding claims. Other key industry concerns, including the revision in OMC margins, recovery of investments made in mandatory digitalisation initiatives and sales tax-related issues, were also raised. However, these would be taken up separately in subsequent meetings, they said. Industry representatives stressed that success of the ongoing process would depend on timely implementation of the commitments made. OMCs have long argued that unresolved PDCs, frozen marketing margins, rising compliance costs and policy uncertainty are undermining the financial sustainability of the downstream petroleum sector. They maintain that the resolution of these issues is also essential for ensuring uninterrupted fuel supply and building investor confidence.

PDCs owed to OMCs remain unsettled at Rs66.7 billion, tying up substantial working capital at a time of acute financial strain, even as the industry has itself eased this burden, with refineries contributing over Rs7 billion to the PDC reduction. Also, OMC margins were last revised in September 2023 (implementation staggered till December 2023) despite persistent inflation, rising operating, financing and compliance costs and the mandatory stockholding obligations. At the same time, OMCs are making investments in digitalisation, estimated at Rs1.2 billion, which has now been linked to the margin framework under Ogra&#39;s recent directive.

Between March 7 and June 20, 2026, the industry argued, the pricing formula was changed four times for motor spirit (MS) and seven times for high-speed diesel without prior consultation. The June 20 revision alone caused an estimated single-day exposure of Rs104 billion for OMC and refinery stocks, with OMCs holding roughly 505,000 metric tons of MS and 655,000 MT of HSD. These losses arose due to abrupt policy decisions imposed on companies, simultaneously required to carry mandatory strategic stocks, often exceeding 20 days of coverage.

Local gas supply to fertiliser plants

In a separate development, the government has finally managed to avoid the burden of Rs16 billion in price differential claims (PDCs) by providing locally produced gas to two fertiliser plants.

Earlier, during the US-Iran war, electricity consumers were compelled to bear high power costs because of imported liquefied natural gas (LNG) consumption by power plants. To avoid the use of expensive LNG, gas load-shedding duration was increased for domestic consumers while indigenous gas supply was approved for two fertiliser plants running on LNG in the past. The government claims there will be a price differential of Rs16 billion if the fertiliser plants are provided LNG.

Interestingly, the government also provided locally produced gas to LNG-based power plants but they were charged over Rs2,000 per million British thermal units (mmBtu) to boost the revenue of gas utilities. However, while approving the proposal of indigenous gas supply to the fertiliser plants &ndash; Agritech and Fatima Fertiliser, the Economic Coordination Committee gave the directive to pass on the benefit of cheaper gas to farmers.

The Ministry of National Food Security &amp; Research briefed the ECC in a recent meeting that urea accounted for around 65% of the total fertiliser consumption in Pakistan. The country has 10 operational urea plants with collective annual production capacity of about 6.6 million tons, sufficient to meet domestic demand if they are provided gas without any interruption.

Eight plants, getting gas supplies from the Mari field and the Sui Southern Gas Company (SSGC) network, generally operate throughout the year. The remaining two plants &ndash; Fatima Fertiliser and Agritech &ndash; rely on gas provision from Sui Northern Gas Pipelines Limited (SNGPL) and together they have an annual capacity of 900,000 tons. It was highlighted that since October 2018, the two plants had been relying on re-gasified LNG due to the unavailability of domestic natural gas and their operation depended on ECC decisions tied to national urea requirements. As these plants face intermittent shutdowns, their production shortfall can create supply-demand gap.

The food security ministry informed the ECC that since April 2023, the SNGPL-based urea plants had remained operational, enabling the accumulation of substantial buffer stock of more than 300,000 tons per month. The improved supply brought down urea prices beginning July 2024. The price stood at Rs4,361 per 50kg bag compared with Rs4,705 in July 2024, a decline of 7.3%. Over the same period, international urea prices rose 38.9%. The ex-Karachi price of imported urea was calculated at Rs8,601 per bag in February 2026.

The ministry further said that a supply-demand analysis indicated that the total urea availability during the Rabi 2025-26 season would be around 4.28 million tons, comprising 1.15 million tons of opening stock and 3.13 million tons of domestic production. The projected urea demand for the season was around 3.42 million tons. The buffer stock for the remaining Rabi period would stay well above 300,000 tons.

However, the closure of SNGPL-based plants and the FFC (Port Qasim) plant during Kharif 2026 would result in a production loss of 718,000 tons till September 30, 2026. Fertiliser shortage may be experienced after July 31, leading to potential price escalation, the ECC was told.]]>
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			<title>Gold plunges in wake of Trump comments</title>
			<link>https://tribune.com.pk/story/2617261/gold-plunges-in-wake-of-trump-comments</link>
			<comments>https://tribune.com.pk/story/2617261/gold-plunges-in-wake-of-trump-comments#comments</comments>
			<pubDate>Thu, 09 Jul 26 00:09:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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				<![CDATA[Down Rs4,700/tola as global rates tumble amid oil surge; rupee inches up]]>
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				<![CDATA[Gold prices in Pakistan declined on Wednesday, mirroring losses in the international market where the precious metal came under pressure after oil prices surged and inflation concerns intensified following comments from US President Donald Trump on the US-Iran conflict.

In the local market, the price of gold per tola dropped Rs4,700 to settle at Rs430,236, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the 10-gram gold was sold at Rs368,858 after a decline of Rs4,029. The price of silver decreased by Rs138 to reach Rs6,421 per tola.

Internationally, spot gold dropped 2% to $4,025.67 per ounce by 11:35 am EDT (1535 GMT), after hitting its lowest level since July 1 earlier in the session, as per Reuters. US gold futures for August delivery slipped 2.9% to $4,035.20 per ounce. Crude oil prices, meanwhile, jumped over 5% amid renewed tensions.

Adnan Agar, Director at Interactive Commodities, attributed the decline in gold to the hike in crude oil prices following fresh developments in the US-Iran situation. While trading around $4,031, the market may head towards $3,900 in the coming days and could go further down towards $3,600, Agar added.

The renewed weakness in gold comes as investors assess the implications of Trump&#39;s statement that an interim agreement aimed at ending the conflict with Iran was &quot;over.&quot; This development has fueled uncertainty, boosting oil prices and raising inflation concerns, which in turn have weighed on the safe-haven appeal of gold.

Market participants were also awaiting the release of the Federal Reserve&#39;s June meeting minutes, scheduled for 2 pm EDT, for further clues on the US central bank&#39;s monetary policy outlook. In a separate development, the Bank of America (BofA) cut its 2026 gold price forecast, signalling subdued optimism for the metal&#39;s performance in the medium term.

Analysts note that while gold remains a key hedge against geopolitical risks, the current dynamics favour risk assets and commodities like oil in the short term.

The Pakistani rupee posted a marginal 0.01% gain against the US dollar on Wednesday, closing at 278.07 in the inter-bank market, up Rs0.03 from Tuesday&#39;s close at 278.10.]]>
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			<title>Security concerns hit investor confidence</title>
			<link>https://tribune.com.pk/story/2617255/security-concerns-hit-investor-confidence</link>
			<comments>https://tribune.com.pk/story/2617255/security-concerns-hit-investor-confidence#comments</comments>
			<pubDate>Thu, 09 Jul 26 00:09:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Survey shows 71% of foreign firms rank law and order among top three business worries]]>
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				<![CDATA[Deteriorating security in Karachi and persistent challenges in Pakistan&#39;s western regions are weighing on investor confidence and business operations, according to the Overseas Investors Chamber of Commerce and Industry&#39;s (OICCI) Security Survey 2026 released on Tuesday.

The annual survey, conducted in June among leading foreign investors operating across the country, found that the top leadership of 71 % of member companies ranked security among their top three business concerns, highlighting that law and order remains a major impediment to investment. Security perceptions in Karachi deteriorated, with 42% of respondents reporting a worsening environment, up from 41% in 2025. In Quetta, 81% reported deteriorating security, while 86% in the rest of Balochistan said the same.

Street crimes remained the foremost concern, with 50% of respondents reporting an increase in Karachi, up from 45% last year. In Quetta, street crime rose to 37% from 24%. Overall, 32% said security conditions affecting their businesses had deteriorated, up from 28%. Concerns over employees&#39; personal security during daily commutes also worsened in Karachi (45% versus 41%) and Quetta (83% versus 79%).

Positive ratings for Karachi Police fell to 30% from 38% last year and Sindh Police to 16% from 26%. By contrast, Sindh Rangers and K-P Police improved to 43% from 34% and 40% from 34%, respectively. Businesses identified street crime, illegal gratification, expatriate security and protests as principal concerns.

Eighty-eight per cent of respondents said the Middle East conflict affected their organisations, with supply chain security (83%), reduced business activity (69%) and employee safety (38%) emerging as top concerns. OICCI Secretary General M Abdul Aleem said the survey demonstrates foreign investors&#39; resilience and commitment to Pakistan. He said sustaining investment momentum requires consistent improvements in public safety, adding that security should be viewed as a critical economic enabler.

Despite challenges, 87% of OICCI members remain confident of holding board meetings in Pakistan. OICCI urged the government to sustain targeted security interventions, strengthen policing and accelerate institutional reformsto provide businesses with a more predictable and secure operating environment, noting that improved security is essential to attracting new investment and supporting sustainable economic growth.]]>
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			<title>Global LNG trade hit record in 2025</title>
			<link>https://tribune.com.pk/story/2617077/global-lng-trade-hit-record-in-2025</link>
			<comments>https://tribune.com.pk/story/2617077/global-lng-trade-hit-record-in-2025#comments</comments>
			<pubDate>Tue, 07 Jul 26 20:58:58 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617077</guid>
			<description>
				<![CDATA[Fastest rate of growth since 2022, IGU warns Middle East conflict clouds outlook]]>
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				<![CDATA[Global liquefied natural gas trade hit a record last year as strong US exports and rising European imports offset weaker Asian purchases, the International Gas Union said in a report on Wednesday.

Conflict in the Middle East could lead to a contraction in 2026, however, it warned.

&quot;The conflict in the Gulf has damaged LNG infrastructure, clouded the outlook for the region&#39;s expansion projects, and exposed Asian buyers to flow uncertainty and higher prices,&quot; IGU President Andrea Stegher said.

Global LNG trade rose 6.3% to 436.98 million metric tonnes in 2025, the fastest rate of growth since 2022, the IGU said in the report.

Europe recorded the largest increase in imports, up 26.1 million tonnes to 126.2 million tonnes, as it replenished inventories and replaced lower Russian gas flows.

Asia Pacific remained the largest LNG-importing region, receiving 168.7 million tonnes, though imports to Asia were down 9.2 million tonnes, due mainly to lower demand in China and India. China remained the world&#39;s largest LNG importer at 69.77 million tonnes, but imports fell 8.9 million tonnes year-on-year.

The report highlights diverging trends in Asia, with Chinese LNG imports down due to stronger domestic supply and higher pipeline imports from Russia, while lower production in parts of Southeast Asia boosted reliance on LNG spot purchases.

Japan was the second-largest importer at 67.37 million tonnes, while South Korea increased imports by 1.7 million tonnes to 48.67 million tonnes. The IGU said prolonged periods of elevated LNG prices could weigh on demand growth in emerging Asian economies, particularly in South and Southeast Asia.

Chinese LNG re-exports rose 45.8% to 0.67 million tonnes.

The US remained the world&#39;s largest LNG exporter, shipping 110.74 million tonnes, followed by Qatar with 81.51 million tonnes and Australia with 80.32 million tonnes.

The IGU has more than 130 members worldwide, representing more than 90% of the global gas market.]]>
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			<title>Gold markets reel from ME tensions</title>
			<link>https://tribune.com.pk/story/2617071/gold-markets-reel-from-me-tensions</link>
			<comments>https://tribune.com.pk/story/2617071/gold-markets-reel-from-me-tensions#comments</comments>
			<pubDate>Tue, 07 Jul 26 20:58:58 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617071</guid>
			<description>
				<![CDATA[Local prices down Rs2,500 to Rs434,936/tola; rupee holds steady at 278.10/$]]>
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				<![CDATA[Gold prices in Pakistan declined on Tuesday, mirroring losses in the international market, as investors tracked escalating tensions in the Middle East that pushed oil prices higher and awaited the US Federal Reserve&#39;s June meeting minutes for clues on future monetary policy.

In the local market, the price of gold per tola fell Rs2,500 to settle at Rs434,936, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the 10-gram gold was sold at Rs372,887 after registering a decrease of Rs2,143.

This dip came in line with the performance on Monday, when gold per tola shed Rs2,400 to reach Rs437,436. The domestic market has remained sensitive to international cues, with rupee-dollar fluctuations and import costs also influencing local bullion rates.

On the global front, spot gold slipped 0.6% to $4,138.39 per ounce by 11:55 am ET (1555 GMT). US gold futures for August delivery eased 0.5% to $4,148.50. Market sentiment was shaped by geopolitical risks, particularly after reports of vessels being attacked near the Strait of Hormuz, which lifted oil prices and reinforced safe-haven demand dynamics, though gold faced some profit-taking pressure.

Interactive Commodities Director Adnan Agar provided insights into the international market movement. &quot;Gold hit a high of $4,184, and the low was $4,117. Later, the market was standing at $4,145,&quot; he said. &quot;It is trading within a $70 to $80 range. Actually, the market is currently a bit directionless. We need a good close for gold, like if it closes above $4,300, then there will be an upside. If not, the chances for a downward trend are increasing again,&quot; Agar said.

The yellow metal&#39;s performance remains closely tied to broader macroeconomic factors. China&#39;s central bank extended its gold buying streak for the 20th consecutive month, underscoring continued official-sector support amid global uncertainties. However, this did not prevent near-term price softness as traders focused on the Fed&#39;s policy outlook and persistent Middle East risks.

Meanwhile, silver prices also weakened. In Pakistan, the per-tola silver dropped by Rs120 to Rs6,559. Internationally, spot silver fell over 1%. The recent volatility in precious metals comes as investors weigh the balance between geopolitical tensions, which typically support gold, and expectations around US rate decisions. A stronger dollar or signals of prolonged higher rates could weigh on non-yielding assets like gold.

Meanwhile, the Pakistani rupee held steady against the US dollar in the inter-bank market, closing at Rs278.10, up one paisa compared to Rs278.11 on Monday, according to the State Bank of Pakistan.]]>
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			<title>InvestPak opens Rs82tr market to small investors</title>
			<link>https://tribune.com.pk/story/2616884/investpak-opens-rs82tr-market-to-small-investors</link>
			<comments>https://tribune.com.pk/story/2616884/investpak-opens-rs82tr-market-to-small-investors#comments</comments>
			<pubDate>Mon, 06 Jul 26 21:04:38 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2616884</guid>
			<description>
				<![CDATA[SBP's digital platform lets individuals buy govt bonds; aims to boost financial inclusion]]>
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				<![CDATA[The State Bank of Pakistan (SBP) launched InvestPak, a digital platform that allows individuals to invest directly in government securities, opening the Rs82 trillion sovereign debt market to ordinary citizens for the first time, according to a statement issued on Monday.

Until now, investing in government bonds was largely restricted to banks, mutual funds and wealthy individuals. The new web portal and mobile app eliminates the need for paperwork and intermediaries, letting anyone with a bank account buy government securities from their phone.

Finance Minister Senator Muhammad Aurangzeb, who launched the platform in Karachi, said InvestPak advances the prime minister&#39;s vision of a digitally enabled and financially inclusive economy. &quot;This is about making participation in the formal financial sector simpler, more inclusive, and more accessible for every segment of society,&quot; he said.

Aurangzeb said the platform would also help banks focus on private sector lending. &quot;As the investor base expands, banks will have greater space to focus on their core responsibility of lending to the private sector and supporting productive economic activity,&quot; he said.

SBP Governor Jameel Ahmad described InvestPak as &quot;a defining milestone in the evolution of Pakistan&#39;s financial landscape.&quot; He said it reflects SBP&#39;s commitment to promoting inclusive and digital access to financial services under its Strategic Vision 2028.

The platform allows users to manage multiple PKR and IPS accounts across participating banks, providing a unified view of their investments. A dedicated call centre and online support have been established to help users.

A nationwide media campaign has been launched alongside the platform. &quot;Technology alone does not change behaviour; awareness does,&quot; Ahmad said, adding that SBP intends to make sovereign investments a household conversation through print, social media and FM radio.]]>
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			<title>Railway revenue rises 20% to Rs115b</title>
			<link>https://tribune.com.pk/story/2616883/railway-revenue-rises-20-to-rs115b</link>
			<comments>https://tribune.com.pk/story/2616883/railway-revenue-rises-20-to-rs115b#comments</comments>
			<pubDate>Mon, 06 Jul 26 21:04:38 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2616883</guid>
			<description>
				<![CDATA[Minister says ML-1 groundbreaking in Sept; 
ML-2 to be developed under PPP model]]>
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				<![CDATA[Pakistan Railways posted a 20% increase in earnings during fiscal year 2025-26, with total revenue rising to Rs115 billion from Rs96 billion a year earlier, as the government eyes an even bigger role for freight operations to improve the financial health of the state-run entity.

Addressing a press briefing on Monday, Railways Minister Muhammad Hanif Abbasi said he was expecting revenue of Rs120 billion, but described the overall performance as encouraging given the regional and operational challenges faced during the year. Freight operations remained a key driver of growth, generating Rs41 billion compared to Rs36 billion in the previous fiscal year, an increase of nearly 14%. Passenger services continued to contribute the largest share to the railway&#39;s income, with revenue standing at Rs51 billion.

The minister said Pakistan Railways has now set an ambitious freight revenue target of Rs65 billion for the current fiscal year, well above the passenger segment earnings target of Rs60 billion for FY2026-27. He said achieving this goal would depend on bringing more than 40 General Utility (GU) series locomotives into freight operations.

Abbasi said freight volumes remained below expectations last fiscal year because of disruptions caused by the Iran-US conflict in the Gulf region. Despite the slowdown, Pakistan Railways managed to increase freight earnings.

He said the railway will begin transporting automobiles and edible oil by September.

The minister added that the operational cost ratio declined to 84.7% in FY2025-26 from 96% in the previous year, indicating better financial discipline and more efficient use of resources.

To improve passenger services, Abbasi said the department is overhauling coaches, locomotives and power vans, while its digitisation programme is expected to be completed by the end of this year. The digital transformation is aimed at improving ticketing, cargo management and overall customer services.

On the long-awaited Main Line projects, Abbasi said Pakistan Railways hopes to hold the groundbreaking for ML-1 in September, depending on the Asian Development Bank (ADB)&#39;s financing procedures.

He said completion of the planned 480-kilometre section under the ML-1 project would cut Lahore-Karachi travel time by five to six hours.

The minister also said upgrading ML-3 is crucial for expanding trade with Iran, adding that Pakistan Railways will soon invite tenders for the project to facilitate cross-border trade and passenger movement. Meanwhile, ML-2 will be developed under a public-private partnership (PPP) model to attract private investment.

Abbasi said special economic corridors would also be developed along the upgraded railway network to promote industrial activity and strengthen logistics infrastructure.

He added that Pakistan Railways, in collaboration with provincial governments, is also reviving neglected branch lines. In Punjab alone, eight branch lines will be rehabilitated in the first phase, a move expected to improve connectivity for remote and rural communities and provide easier access to economic opportunities and public services.]]>
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			<title>Iqbal invites investment from Pak-American businessmen</title>
			<link>https://tribune.com.pk/story/2617256/iqbal-invites-investment-from-pak-american-businessmen</link>
			<comments>https://tribune.com.pk/story/2617256/iqbal-invites-investment-from-pak-american-businessmen#comments</comments>
			<pubDate>Thu, 09 Jul 26 00:09:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617256</guid>
			<description>
				<![CDATA[Asks them to bring expertise to achieve goals of Uraan Pakistan]]>
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				<![CDATA[Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday addressed a gathering of Pakistani-American business leaders in Chicago, comprising 20 entrepreneurs, technologists and financiers, of which more than a third were former Fortune 500 executives, and invited them to bring their capital, networks and expertise to Pakistan.

The minister stressed that Pakistan stood at a defining moment, where recent gains in national security, diplomacy and macroeconomic stability must be translated into sustained economic growth. &quot;Pakistanis abroad remain deeply connected to their homeland and the Pakistani-American community has distinguished itself across every field &ndash; from technology and finance to healthcare, energy and academia,&quot; he said.

&quot;After the difficult but necessary reforms, the country has restored macroeconomic stability, brought inflation down, slashed policy rate and earned international recognition as one of the world&#39;s leading economic turnaround stories. The vision is there. The economy has been rebuilt. What we need is your capital, your networks and your expertise.&quot;

The minister emphasised that Pakistan&#39;s constructive role in promoting regional peace had strengthened investor confidence and created new opportunities for trade and international partnerships, adding that the time was ripe for overseas Pakistanis to include Pakistan in their professional and investment portfolios. Most members of the delegation have already made multiple investments and are engaged in philanthropic efforts in Pakistan. The event was held to transform the ongoing relationship into a structured partnership around the Uraan Pakistan economic agenda. Iqbal outlined the Uraan target of a $1 trillion economy by 2035 and a $3 trillion economy by 2047, anchored to the 5Es framework &ndash; exports, e-Pakistan, environment and climate change, energy and infrastructure, and equity and empowerment.]]>
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			<title>Steps underway to facilitate businesses</title>
			<link>https://tribune.com.pk/story/2617263/steps-underway-to-facilitate-businesses</link>
			<comments>https://tribune.com.pk/story/2617263/steps-underway-to-facilitate-businesses#comments</comments>
			<pubDate>Thu, 09 Jul 26 00:09:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617263</guid>
			<description>
				<![CDATA[New SMEDA headquarters opened to strengthen support for entrepreneurs]]>
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				<![CDATA[Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan has emphasised that small and medium-scale enterprises (SMEs) constitute the backbone of Pakistan&#39;s economy and remain central to the strategy for sustainable economic development.

He said the government was undertaking comprehensive measures to empower SMEs, improve ease of doing business and create an enabling environment for entrepreneurs across the country. He inaugurated the new headquarters of the Small and Medium Enterprises Development Authority (Smeda) in Islamabad, which marked a significant milestone in efforts to strengthen institutional support for Pakistan&#39;s micro, small and medium enterprises (MSMEs).

Khan said that under the prime minister&#39;s directives, Smeda headquarters had, for the first time, been established and made fully operational in Islamabad to enhance coordination, policy implementation and service delivery for the SME sector. He noted that Smeda had been entrusted with expanded responsibilities to facilitate MSMEs, strengthen entrepreneurship and accelerate private sector-led economic growth.]]>
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			<title>Businessmen asked to cash in on opportunities in Africa</title>
			<link>https://tribune.com.pk/story/2617076/businessmen-asked-to-cash-in-on-opportunities-in-africa</link>
			<comments>https://tribune.com.pk/story/2617076/businessmen-asked-to-cash-in-on-opportunities-in-africa#comments</comments>
			<pubDate>Tue, 07 Jul 26 20:58:58 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617076</guid>
			<description>
				<![CDATA[Malawi consul proposes direct linkages, cites potential for significantly higher profits]]>
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				<![CDATA[Highlighting Africa as one of the world&#39;s most promising untapped trade frontiers, Malawi Honorary Consul in Karachi Abdullah Zaki has urged Pakistan&#39;s business community to shift focus beyond traditional export destinations and capitalise on the immense commercial opportunities available in Malawi and the wider African region.

&quot;Products costing merely 25 cents in Pakistan are being sold in Malawi for as much as 95 cents, demonstrating the extraordinary profit margins available through direct exports,&quot; he said, while stressing that Pakistan must bypass intermediary markets and establish direct commercial linkages with African countries.

He was speaking at a meeting at the Karachi Chamber of Commerce &amp; Industry (KCCI), attended by Businessmen Group (BMG) Chairman Zubair Motiwala, KCCI President Rehan Hanif and other business community representatives.

Zaki stated that although many Pakistani exporters traditionally target Europe, North America and other established markets, Africa, particularly Malawi, offers significantly higher profitability and enormous untapped potential. He noted that a substantial volume of goods currently reaching Malawi through Dubai actually originates from Pakistan and other South Asian countries. &quot;Instead of allowing third countries to earn from value addition, Pakistan should establish direct export channels with Malawi and the African region.&quot; He informed participants that exports of several Pakistani products, including bangles and jute products, to Malawi had already commenced. Pakistan&#39;s exports to Malawi have recorded a 7% growth over the past two years, reflecting the growing acceptance of Pakistani products in the African market.

Encouraging the business community to actively explore new trade avenues, he assured them that his consulate remains fully available to facilitate Pakistani exporters by providing market information, trade guidance and business connectivity. &quot;My office is always open for any businessman seeking information or assistance regarding Malawi. We are fully committed to strengthening the bilateral trade ties,&quot; he said.

Speaking on the occasion, BMG Chairman Zubair Motiwala observed that despite the immense potential, Pakistan&#39;s total trade with Malawi stood at only $11.8 million, which was far below its true potential. He emphasised that Malawi, despite being a landlocked country, serves as an important gateway to southern Africa and presents substantial opportunities for Pakistani exporters.

Motiwala pointed out that Malawi&#39;s economy was heavily dependent on imports, making it an ideal destination for a wide range of Pakistani products. He stressed that instead of concentrating solely on conventional markets, Pakistan must formulate a focused strategy to make inroads into emerging African economies.]]>
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			<title>CCP clears Treet Ltd's rights issue in Loads Ltd</title>
			<link>https://tribune.com.pk/story/2617072/ccp-clears-treet-ltds-rights-issue-in-loads-ltd</link>
			<comments>https://tribune.com.pk/story/2617072/ccp-clears-treet-ltds-rights-issue-in-loads-ltd#comments</comments>
			<pubDate>Tue, 07 Jul 26 20:58:58 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Transaction won't affect market competition, regulator says after Phase-I review]]>
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				<![CDATA[The Competition Commission of Pakistan (CCP) has approved Treet Corporation Limited&#39;s proposal to subscribe to additional ordinary shares of Loads Limited through a rights issue, according to a statement issued on Tuesday.

Treet Corporation submitted a pre-merger application under Section 11 of the Competition Act, 2010, seeking approval for the transaction.

Treet Corporation is a public listed company engaged in the manufacturing and sale of razors and razor blades, while its subsidiaries operate in batteries, corrugated boxes, soaps, medicinal concentrates, electric bikes, rickshaws and workforce solutions. Loads Limited, also a public listed company, manufactures radiators, exhaust systems and metal sheet components for Pakistan&#39;s automotive industry.

During its Phase-I review, the Commission identified the relevant product markets as exhaust systems, radiators, and metal sheet components, with the geographic market being Pakistan.

The Commission observed that Treet Corporation and Loads Limited are already associated undertakings with common management representation. The proposed transaction involves Treet increasing its shareholding in Loads Limited through a rights issue and represents a purely equity investment between associated undertakings. The competition assessment found that the transaction would not alter market shares or affect competition in the relevant markets. The Commission concluded that the proposed subscription would neither create barriers to market entry nor significantly enhance market power. Consequently, the transaction is not likely to result in any adverse effects on competition or lead to a substantial lessening of competition.]]>
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			<title>PSX opens week with 2,082-point surge</title>
			<link>https://tribune.com.pk/story/2616890/psx-opens-week-with-2082-point-surge</link>
			<comments>https://tribune.com.pk/story/2616890/psx-opens-week-with-2082-point-surge#comments</comments>
			<pubDate>Mon, 06 Jul 26 21:04:38 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Investor interest in banking, energy, cement stocks fuels robust rally]]>
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				<![CDATA[Bulls stayed firmly in control at the Pakistan Stock Exchange (PSX) on Monday, driving the benchmark KSE-100 index higher by more than 2,000 points as aggressive buying in banking, energy and cement stocks kept the market&#39;s upward momentum intact.

The bourse opened in positive territory and extended its gains throughout the session, supported by robust interest in sectors such as commercial banks, cement, auto assemblers, fertiliser, oil and gas exploration firms, oil marketing companies and refineries.

The KSE-100 index settled at 187,454.69 with handsome gains of 2,082.49 points, or 1.12%. During the session, the index touched the intra-day high of 187,546.36 after slipping to the low of 185,910.39, reflecting sustained buying interest.

Analysts attributed the rally to investor optimism about Pakistan&#39;s improving macroeconomic outlook, easing monetary conditions and institutional buying in index-heavy sectors, which helped extend the upward momentum at the start of the trading week.

According to KTrade Securities, the KSE-100 index extended its winning streak, closing at 187,455, up 2,082 points (+1.12%). The rally remained broad-based, with strong buying interest in commercial banks, oil &amp; gas and cement stocks. The biggest positive contribution came from Habib Bank, Meezan Bank, NBP, UBL, Lucky Cement, Mari Energies and Fauji Fertiliser, indicating institutional participation in index heavyweights.

Overall, the market continued to draw strength from improving investor sentiment, sustained institutional buying and confidence in the upcoming earnings season and macroeconomic outlook, keeping momentum firmly in favour of the bulls, KTrade noted.

Arif Habib Limited (AHL) wrote that the PSX added another 2k points, closing the gap to the all-time high. Some 69 shares rose and 30 fell with HBL (+4%), Meezan Bank (+1.95%) and NBP (+4.16%) contributing the most to the index gains. In contrast, Askari Bank (-1.03%), Javedan Corp (-1.53%) and Abbott Laboratories (-1.36%) were the biggest index drags.

Meanwhile, AHL mentioned, Islamabad was emerging as the leading venue for the next round of technical negotiations between the United States and Iran, expected to take place on July 11. &quot;With many markets across the globe reaching new highs, Pakistan following the cue is just a matter of time. Support further rises to 185.5k-186k with 190k being the clear upside draw,&quot; added AHL.

Topline Securities observed that the local bourse began the week exactly where it left last Friday, with bulls firmly in control as robust buying interest powered another strong session. The KSE-100 index maintained its upward trajectory throughout the day, touching the intra-day high of 2,174 points before closing at 187,455, up 2,082 points (+1.12%).

Investor confidence remained resilient, supported by broad-based buying across key sectors, which helped sustain the market&#39;s bullish momentum. &quot;The strong start to the week reflects continued optimism among participants, driving the index to a record close,&quot; it said.

Adding to the positive sentiment, international crude oil prices softened, with the US West Texas Intermediate (WTI) benchmark hovering around $68 per barrel, easing concerns over Pakistan&#39;s import bill and inflation outlook. Meanwhile, aggressive institutional accumulation further reinforced the rally, allowing the index to extend its record-setting run, added Topline.

Overall trading volumes increased to 888.4 million shares compared with Friday&#39;s total of 815.7 million. The value of traded shares stood at Rs49.98 billion.

Shares of 495 companies were traded. Of these, 296 stocks closed higher, 182 dropped and 17 remained unchanged.

TPL Properties topped the volumes chart with trading in 66.8 million shares, rising Rs0.90 to close at Rs12.54. Foreign investors sold shares worth a net Rs283.4 million, the National Clearing Company reported.]]>
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			<title>Oil prices jump over 2% on geopolitical fears</title>
			<link>https://tribune.com.pk/story/2617074/oil-prices-jump-over-2-on-geopolitical-fears</link>
			<comments>https://tribune.com.pk/story/2617074/oil-prices-jump-over-2-on-geopolitical-fears#comments</comments>
			<pubDate>Tue, 07 Jul 26 20:58:58 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2617074</guid>
			<description>
				<![CDATA[Brent crude futures gained $1.86, or 2.58%, to $73.85 a barrel]]>
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				<![CDATA[Oil prices rose more than 2% on Tuesday after reports of attacks on vessels near the Strait of Hormuz revived fears of disruptions to shipping through the critical energy transit route.

Brent crude futures gained $1.86, or 2.58%, to $73.85 a barrel, while US WTI crude rose $1.73, also 2.52%, to $70.28 a barrel at 1534 GMT.

&quot;The overriding theme this morning is a ship being shot at in the Strait of Hormuz,&quot; Saxo Bank analyst Ole Hansen said. &quot;That&#39;s bringing some geopolitical risk premium back into the price. It&#39;s not a lot compared with what we&#39;ve seen in the past, but it&#39;s the main driver behind the bid in the market.&quot;]]>
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			<title>SECP urges industry to embrace corporatisation</title>
			<link>https://tribune.com.pk/story/2616886/secp-urges-industry-to-embrace-corporatisation</link>
			<comments>https://tribune.com.pk/story/2616886/secp-urges-industry-to-embrace-corporatisation#comments</comments>
			<pubDate>Mon, 06 Jul 26 21:04:38 +0500</pubDate>
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				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[SECP was simplifying regulatory procedures, reducing compliance requirements]]>
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				<![CDATA[SECP Commissioner Muzaffar Ahmed Mirza has urged the business and industrial community to formalise their businesses through corporatisation to improve governance, enhance transparency and access new financing and growth opportunities.

Speaking at the Sialkot Chamber of Commerce, Mirza said that the SECP was simplifying regulatory procedures, reducing compliance requirements and expanding digital services to make incorporation and corporate compliance easier for businesses.]]>
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			<title>PACRA upgrades Bank of Punjab rating to AAA</title>
			<link>https://tribune.com.pk/story/2616015/pacra-upgrades-bank-of-punjab-rating-to-aaa</link>
			<comments>https://tribune.com.pk/story/2616015/pacra-upgrades-bank-of-punjab-rating-to-aaa#comments</comments>
			<pubDate>Wed, 01 Jul 26 21:29:44 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[BOP has become the first and only provincial bank in Pakistan to achieve the nation's highest credit rating]]>
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				<![CDATA[The Bank of Punjab (BOP) has been upgraded to a long-term entity rating of AAA from AA+ by the Pakistan Credit Rating Agency (Pacra), with the short-term rating held at A1+ and a stable outlook.

BOP has become the first and only provincial bank in Pakistan to achieve the nation&#39;s highest credit rating, a milestone built on a stronger deposit franchise, rising profitability and disciplined risk management. In 2025, BOP&#39;s deposits crossed Rs2 trillion, while the operating profit before credit loss allowance nearly doubled, rising 98.5% to Rs40.7 billion. The driver was a sharply improved deposit mix and a substantially lower cost of funds, translating into stronger core earnings, tighter costs and prudent risk stewardship.

&quot;AAA is more than a rating, it is proof of what disciplined, professional banking can build,&quot; said Zafar Masud, President &amp; CEO of The Bank of Punjab. &quot;We have created a commercially strong institution that delivers sustainable value for shareholders while staying true to financial inclusion, responsible banking and the development of Punjab and Pakistan.&quot; BOP is Pakistan&#39;s leading digital lender and a frontrunner in priority-sector finance, SME, agriculture, women&#39;s financial inclusion and housing. Through the government of Punjab programmes such as Asaan Karobar, Kissan Card, Livestock Card and Apni Chat Apna Ghar, the bank has opened formal financial access to entrepreneurs, farmers, women and first-time borrowers across the province. The bank thanks its majority sponsor, the government of Punjab, whose confidence and strategic guidance have strengthened BOP&#39;s institutional capacity and anchored its role in the province&#39;s growth and inclusion agenda.]]>
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			<title>SECP unveils first ESG Mutual Funds Framework</title>
			<link>https://tribune.com.pk/story/2616010/secp-unveils-first-esg-mutual-funds-framework</link>
			<comments>https://tribune.com.pk/story/2616010/secp-unveils-first-esg-mutual-funds-framework#comments</comments>
			<pubDate>Wed, 01 Jul 26 21:29:44 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2616010</guid>
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				<![CDATA[It will encourage companies to improve environmental, social and governance practices]]>
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				<![CDATA[Pakistan has taken a major step towards sustainable finance as the Securities and Exchange Commission of Pakistan (SECP) has issued the country&#39;s first ESG Mutual Funds Framework.

The framework enables asset management companies to launch environmental, social and governance (ESG)-focused mutual funds, bringing Pakistan&#39;s capital market in line with global sustainable investment practices, according to a statement issued by the SECP on Wednesday.

Globally, such investment has grown rapidly, with more than $16 trillion in assets managed under sustainable investment strategies. As investors increasingly seek investments that combine financial returns with responsible business practices, regulators around the world are introducing frameworks to support ESG investing.

For Pakistan, the initiative is particularly important as the country remains among the world&#39;s most climate-vulnerable nations. The new framework establishes a transparent regulatory regime for ESG-aligned collective investment schemes and opens Pakistan&#39;s financial market to the growing global sustainable investment ecosystem.

Under the framework, equity-based ESG mutual funds will primarily invest in companies included in the Pakistan Stock Exchange&#39;s Sustainability Index and those aligned with the SECP&#39;s ESG Disclosure Guidelines.

Debt-based ESG mutual funds will invest in green, social and sustainability-linked debt instruments in line with Pakistan&#39;s Green Taxonomy and Sustainable Finance Framework.

&quot;The framework is expected to encourage Pakistani companies to improve their environmental, social and governance practices, enhancing their access to sustainable investment capital while promoting responsible corporate behaviour,&quot; said the SECP.

To protect investors and maintain market integrity, the framework requires ESG mutual funds to allocate at least 50% of their net assets to ESG-aligned investments. It also introduces governance, disclosure and independent assurance requirements to prevent greenwashing and enhance transparency and accountability.]]>
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			<title>Canadian canola expertise sought</title>
			<link>https://tribune.com.pk/story/2614168/canadian-canola-expertise-sought</link>
			<comments>https://tribune.com.pk/story/2614168/canadian-canola-expertise-sought#comments</comments>
			<pubDate>Fri, 19 Jun 26 20:05:40 +0500</pubDate>
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				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Agriculture contributes 25% to Pakistan's GDP and proposed joint initiatives in hybrid seed research]]>
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				<![CDATA[Federal Minister for National Food Security and Research Rana Tanveer Hussain has sought Canadian expertise in canola cultivation to reduce Pakistan&#39;s $4-5 billion annual edible oil import bill.

During a meeting with Canadian High Commissioner Tarik Ali Khan, Hussain said agriculture contributes 25% to Pakistan&#39;s GDP and proposed joint initiatives in hybrid seed research, livestock breed improvement and dairy processing. He also sought Canadian technical support for capacity building and disease control. Khan noted that Canada&#39;s agriculture minister is expected to visit Pakistan in July. Both sides agreed to establish a Joint Working Group.]]>
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			<title>US Fed holds interest rate steady at 3.5%-3.75%, flags persistent inflation risks</title>
			<link>https://tribune.com.pk/story/2613908/us-fed-holds-interest-rate-steady-at-35-375-flags-persistent-inflation-risks</link>
			<comments>https://tribune.com.pk/story/2613908/us-fed-holds-interest-rate-steady-at-35-375-flags-persistent-inflation-risks#comments</comments>
			<pubDate>Thu, 18 Jun 26 16:56:31 +0500</pubDate>
			<dc:creator>
				<![CDATA[News Desk]]>
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			<category><![CDATA[World]]></category>
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			<description>
				<![CDATA[FOMC ends two-day meeting, all 12 members vote to keep current US monetary policy unchanged]]>
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				<![CDATA[The US Federal Reserve has kept its benchmark interest rate unchanged in the range of 3.5% to 3.75%, as policymakers signaled continued caution amid elevated inflation and global economic uncertainty.

The decision was announced following a two-day meeting of the Federal Open Market Committee (FOMC), with all 12 voting members supporting the move to maintain the current policy stance.

In its statement, the FOMC said economic activity in the United States is &ldquo;expanding at a solid pace,&rdquo; despite heightened uncertainty partly linked to geopolitical tensions in the Middle East.

The committee stated that productivity growth and capital investment remain strong, while labour market conditions have stayed broadly stable, with job gains keeping pace with workforce expansion and unemployment showing little change.

However, officials reiterated that inflation remains above the Fed&rsquo;s 2% target, driven in part by supply-side shocks affecting sectors such as energy.

Read More: US economy braces for slow, uneven growth in 2026

Alongside the policy decision, Fed officials released updated economic projections for 2026&ndash;2028. The median forecast now expects: GDP growth: 2.2% in 2026 (down from 2.4% in March); unemployment rate: 4.3% in 2026 (down from 4.4%) ; inflation: 3.6% in 2026, rising sharply from the earlier projection of 2.7%

Inflation is projected to ease to 2.3% in 2027, still slightly above the previous estimate, underscoring expectations that price pressures will remain sticky over the medium term.

New Federal Reserve Chair Kevin Warsh, presiding over his first policy meeting, did not submit personal projections but reinforced the central bank&rsquo;s focus on inflation control.

He said financial markets &ldquo;perform best when they react to incoming data,&rdquo; and reaffirmed that the Fed&rsquo;s 2% inflation target remains unchanged, describing it as a &ldquo;long-held and non-negotiable commitment.&rdquo;

Warsh added that the central bank is determined to restore inflation to target after it has remained above 2% for nearly five years, calling the commitment &ldquo;strong, unanimous, and unambiguous.&rdquo;

Following the announcement, US equity markets closed lower, while the dollar index strengthened and gold prices declined, reflecting expectations that interest rates may remain elevated for longer.

Analysts cited by financial outlets said the Fed continues to operate in a data-dependent mode, with inflation increasingly viewed as the dominant policy concern.

Economic forecasts from major institutions suggest diverging expectations. Goldman Sachs Research now sees no rate cuts in 2026, pushing easing further into 2027. Citi economists, however, still expect three rate cuts in 2026, beginning in September.

The divergence reflects ongoing uncertainty over whether inflation will moderate quickly enough to allow policy easing.

Warsh also announced the creation of five internal task forces aimed at reviewing key areas of Federal Reserve operations, including: Policy communications and the Summary of Economic Projections; balance sheet management; data sources used for policy decisions; labour market and productivity analysis; and inflation targeting frameworks.

The Fed&rsquo;s latest decision indicates a clear message: while the US economy remains resilient, inflation continues to drive monetary policy direction. With projections pointing to higher-than-expected price pressures and a cautious policy stance from new leadership, expectations for near-term rate cuts remain highly uncertain.]]>
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			<title>Budget 2026-27 income tax calculator: find out your new take-home salary</title>
			<link>https://tribune.com.pk/story/2612852/budget-2026-27-income-tax-calculator-find-out-your-new-take-home-salary</link>
			<comments>https://tribune.com.pk/story/2612852/budget-2026-27-income-tax-calculator-find-out-your-new-take-home-salary#comments</comments>
			<pubDate>Fri, 12 Jun 26 16:22:42 +0500</pubDate>
			<dc:creator>
				<![CDATA[Web Desk]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Govt cuts taxes, ends surcharge for four salaried class income slabs]]>
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				<![CDATA[Salaried employees can estimate their revised take-home salary using the Budget 2026-27 income tax calculator. During the budget speech in the National Assembly on Friday, Finance Minister Aurangzeb unveiled tax cuts for four income slabs and announced the abolition of the surcharge.]]>
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			<title>Oil prices climb more than $4 after Israeli strikes on Iran and Lebanon</title>
			<link>https://tribune.com.pk/story/2612043/oil-prices-climb-more-than-4-after-israeli-strikes-on-iran-and-lebanon</link>
			<comments>https://tribune.com.pk/story/2612043/oil-prices-climb-more-than-4-after-israeli-strikes-on-iran-and-lebanon#comments</comments>
			<pubDate>Mon, 08 Jun 26 09:39:58 +0500</pubDate>
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				<![CDATA[Reuters]]>
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				<![CDATA[On Sunday, Iran fired a salvo of missiles ​at Israeli targets in retaliation for the strikes on Lebanon]]>
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				<![CDATA[Oil prices jumped more than $4 on Monday, with investors spooked by Israeli strikes &zwnj;on Iran as well as renewed attacks on Lebanon a day earlier.

Brent crude futures rose $4.42 or 4.47% to $97.15 a barrel as of 0609 GMT, while US crude futures were up $4.07 or 4.50% at $94.61 per barrel.

Israel said on Monday it hit a petrochemical plant in Iran&#39;s southwest, along with strikes elsewhere ​on military targets. That&#39;s despite US President Donald Trump reportedly telling Israeli Prime Minister Benjamin Netanyahu to refrain from ​further attacks.

In the first hit on an energy site inside Iran since the April 8 ceasefire, Israel ⁠said it struck targets at the Mahshahr petrochemical complex. A provincial official told Iran&#39;s semi-official Fars news agency parts of the ​plant were damaged.

Read: Oil shock and the import trap

Hopes are now eroding for an imminent end to the wider war and a restart to crude flows through the ​Strait of Hormuz, through which roughly a fifth of the world&rsquo;s oil and liquefied natural gas is transited.

Monday&#39;s gains erased Friday&#39;s losses, when prices fell on hopes of a de-escalation in the US-Iran conflict. Oil prices have climbed just under 60% since the start of the war in ​late February but remain below highs marked in March when Brent reached nearly $120 per barrel.

On Sunday, Iran fired a salvo of missiles ​at Israeli targets in retaliation for the strikes on Lebanon. Even so, US President Donald Trump insisted that an agreement to end the wider &zwnj;war remains well within reach.

Iran has made a ceasefire with Lebanon a condition for a peace deal with Washington.

Israel invaded Lebanon in March after Iran-backed Hezbollah fired rockets and drones across the border. Lebanon and Israel said on June 3 that they had agreed to a ceasefire following negotiations in Washington.

Tariffs on the Strait

On Monday, Iran&rsquo;s ambassador to Moscow was quoted as saying that the Strait of Hormuz will ​be open but under new conditions ​to be set by ⁠Iran and Oman, including a transit fee.

&quot;Of course, this strait will be open, but with new conditions to be determined by the Iranian and Omani authorities,&quot; Ambassador Kazem Jalali told the Russian newspaper ​Izvestia in an interview published on Monday.

Read more: &#39;Shaky Zionist regime has few days left,&#39; says Iranian supreme leader

Tehran has been blocking most shipping through the Strait ​of Hormuz, while Washington ⁠has imposed its own blockade of Iranian ports.

OPEC+ will increase output

Amid the resulting supply crisis, OPEC+ on Sunday agreed its fourth increase in oil output in four months. But analysts said the decision would have little impact since most OPEC+ members could not meet their output ⁠targets because ​of the Hormuz closure or, in the case of Russia, infrastructure attacks that ​have eroded its production capacity.

&quot;In the current market, the physical impact of such a decision would be close to zero,&quot; Rystad Energy&#39;s head of geopolitical analysis, Jorge ​Leon, said in a note to clients.]]>
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			<title>Cement despatches plunge 21% in May</title>
			<link>https://tribune.com.pk/story/2611144/cement-despatches-plunge-21-in-may</link>
			<comments>https://tribune.com.pk/story/2611144/cement-despatches-plunge-21-in-may#comments</comments>
			<pubDate>Tue, 02 Jun 26 20:07:14 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Exports decline 36%, local sales drop 17% while north-based mills see 22% fall in total despatches]]>
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				<![CDATA[Cement despatches for May 2026 declined 21.02% to 3.837 million tonnes from 4.858 million tonnes during the same month last fiscal year, according to data released by the All Pakistan Cement Manufacturers Association (APCMA).

Local despatches fell 17.17% to 3.205 million tonnes from 3.869 million tonnes in May 2025. Exports also decreased 36.06% to 632,648 tonnes from 989,434 tonnes.

In May 2026, north-based mills despatched 2.657 million tonnes, a decline of 22% from 3.407 million tonnes in May 2025. South-based mills despatched 1.180 million tonnes, down 18.70% from 1.452 million tonnes.

In domestic markets, north-based mills sold 2.657 million tonnes, down 16.05% from 3.165 million tonnes. South-based mills sold 547,528 tonnes, down 22.21% from 703,827 tonnes.

There were no exports from north-based mills during May 2026. Exports from the south decreased 15.41% to 632,648 tonnes from 747,856 tonnes during the same month last year. During the first 11 months of the current fiscal year, total despatches (domestic and exports) were 46.26 million tonnes, up 6.44% from 43.46 million tonnes despatched during the corresponding period of last fiscal year. Domestic despatches during this period were 38.01 million tonnes against 35.11 million tonnes during the same period last year, showing an increase of 8.26%. Export despatches declined 1.21% to 8.24 million tonnes from 8.34 million tonnes.

North-based mills despatched 31.689 million tonnes domestically during July 2025 to May 2026, up 9.49% from 28.943 million tonnes despatched during July 2024 to May 2025. Exports from the north fell 45.98% to 797,431 tonnes from 1.476 million tonnes exported during the same period last year. Total despatches by north-based mills rose 6.80% to 32.487 million tonnes from 30.419 million tonnes.

South-based domestic despatches during July 2025 to May 2026 were 6.323 million tonnes, up 2.47% from 6.170 million tonnes despatched during the same period last fiscal year. Exports from the south increased 8.41% to 7.447 million tonnes from 6.869 million tonnes exported during the same period last year. Total despatches by south-based mills rose 5.60% to 13.770 million tonnes from 13.039 million tonnes.

A spokesperson for APCMA appreciated Pakistan&#39;s continuous and untiring efforts to resolve geopolitical tensions and bring peace to the Middle East. He was also optimistic about the upcoming federal budget and expected good policies from the government to support local industry and resolve bottlenecks in its operations.]]>
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