Thursday, July 17 2025

PSX reaches new intraday peak of 138,000 points
The Pakistan Stock Exchange (PSX) on Thursday continued its renewed bullish momentum as it crossed the 138,000 points during intraday trade. The benchmark KSE-100 index rose by 1,785.25 points, or 1.31 per cent, to stand at 138,165.21 points at 11:57am, from the previous close of 136,379.96 points. Awais Ashraf, research director at AKD Securities, said: “Investor optimism over a potential rate cut in the upcoming monetary policy, expected later this month, has strengthened following a decline in yields during yesterday’s PIBs (Pakistan Investment Bond) auction. “A stable external account and easing inflation further support the case for bringing interest rates down into single digits,” he told Dawn.com The PSX had staged a modest recovery yesterday as investors resumed buying, encouraged by the formation of a high-level committee to address the business community’s concerns over the recently introduced taxation measures.
Related news categories: business economic-indicators psx stock-exchanges

FBR powers
AS expected, the government’s attempts to fit out the tax authority with ramped-up powers has produced a backlash. And against this backlash, we see the old instincts swinging into play. The prime minister has reportedly asked the FBR to ‘go slow’ with the powers they have been vested in the Finance Act for FY26, and the finance ministry has formed a committee to hold talks with the business community around these powers. Against these steps, the leadership of the Karachi-based Federation of Pakistan Chambers of Commerce and Industry has reportedly postponed its strike call given for this Saturday, while the Lahore business community appears steadfast in its resolve to continue with the strike plan. This is as per newspaper reports, and it is still possible that either of these associations could change their minds before the big day.
Related news categories: business economic-indicators misc

Consolidating gains
THOUGH IMF Resident Representative for Pakistan Mahir Binici’s words of commendation for the country’s “strong performance so far” under the $7bn Extended Fund Facility (EFF) ‘vindicate’ the government’s economic and fiscal policies, his compliments should be taken with a pinch of salt. His praise for the government’s economic performance is primarily based on the relatively stronger implementation of IMF programme goals, which have indeed helped pull the economy back from the brink. But they have also imposed a very heavy cost on growth and ordinary people. Noting that the successful first review of the EFF encompassing the agreement on the federal budget blueprint was a major milestone, he told a group of researchers and economists in Islamabad recently that the country’s growth prospects in 2025 and beyond would improve.
Related news categories: business economic-indicators misc

US firms eye investment in Pakistan’s port sector
Over 65 US companies joined a landmark webinar on Wednesday to explore commercial opportunities at Karachi Port and Port Qasim. The webinar hosted by the US Department of Commerce’s International Trade Administration and the US Department of State, in collaboration with the Ministry of Maritime Affairs, part of the ‘Gateways to Growth: South Asia Port Opportunities’ series, has opened new doors for American commercial services in the port sector of Pakistan. The webinar served as a strategic platform for American companies to engage directly with Pakistani port officials and private operators. “US investors have made substantial contributions to Pakistan’s development, and we are confident that the port sector will be another area where we can achieve great success together,” said US Consul General Scott Urbom in Karachi, emphasising the role of partnership in fostering long-term commercial ties.
Related news categories: business economic-indicators misc

Businesses gear up for nationwide strike
President of the Karachi Chamber of Commerce and Industry (KCCI), Muhammad Jawed Bilwani, on Wednesday categorically denied rumours of any postponement or cancellation of the nationwide strike scheduled for July 19, affirming that the shutdown will proceed as planned. The KCCI has installed hoardings and billboards across major arteries of Karachi announcing the complete strike, with slogans demanding respect for taxpayers “instead of handcuffs”. Despite the formation of a high-level committee by Finance Minister Muhammad Aurangzeb to hold consultations with traders on budgetary measures aimed at documenting the economy, the KCCI leadership remains resolute in its decision. The committee, comprised of multiple stakeholders, has been tasked with conducting a 30-day consultation process to formulate a consensus-based proposal for submission to Prime Minister Shehbaz Sharif and the federal cabinet.
Related news categories: business economic-indicators misc