Wednesday, December 10 2025

IMF loan approval propels PSX to new high
Bulls took the driving seat at the Pakistan Stock Exchange (PSX) on Tuesday as the market surged to new highs following approval of $1.3 billion in loan tranches under two different programmes by the International Monetary Fund (IMF). The benchmark KSE-100 index rose 1,153 points, or 0.69%, to reach an all-time high at 169,456. Support came from consistent stock buying by local mutual funds and investor interest in market heavyweights. Other factors propelling the index higher included a 9% year-on-year (YoY) increase in remittances for November 2025 and an understanding reached between Pakistan and Indonesia to ramp up bilateral trade and strengthen cooperation in major social sectors. "Bulls ignited a record-breaking surge at the PSX," remarked Topline Securities in its market review. "They commanded Tuesday's trading session with remarkable strength, lifting the benchmark index to breathtaking new heights," it said.
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Buying rally continues, KSE-100 crosses 170,000 level in early trade
Bullish momentum was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index crossing the 170,000 level during the opening minutes of trading on Wednesday. At 9:40am, the benchmark index was hovering at 170,171.82, an increase of 715.44 points or 0.42%. Buying interest was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, HBL and UBL, traded in the green. Analysts attributed the positivity to the International Monetary Fund (IMF) board clearance, which unlocks about $1.2 billion for Pakistan under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).
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Inflows hit $16b despite worker abuse
Despite what many overseas Pakistanis describe as humiliating behaviour and bureaucratic hurdles at home and abroad, at the hands of fellow countrymen in positions of authority, migrant workers have continued to support the struggling economy with unwavering commitment, sending $16.14 billion in 5MFY26, up 9% year-on-year and nearly $3.3 billion higher than Pakistan's dwindling exports of $12.8 billion recorded during the same five-month period of FY2026. Workers' remittances, Pakistan's most vital foreign exchange lifeline, continued to show yearly growth during the first five months of FY26. According to central bank data compiled by Arif Habib Limited (AHL), remittance inflows climbed 9% year-on-year to $16.14 billion during July-November 2025 (5MFY26), compared to $14.77 billion during the same period last year.
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NayaPay rolls out global QR payments in 50+ countries
NayaPay, a Pakistani fintech platform, has launched global QR payments in collaboration with Ant International's Alipay+ wallet gateway. According to a statement, the partnership enables NayaPay users to scan and pay at Alipay+ merchants across more than 50 countries. The service connects Pakistani consumers to international payment acceptance in sectors including retail, dining, transport, healthcare and entertainment. Under the arrangement, users can make payments abroad through QR scans with lower transaction costs and reduced processing steps. Alipay+ connects 40 international mobile payment partners to more than 150 million merchants globally. The company said the launch adds global QR acceptance to its existing services, which include Visa debit cards, local and international money transfers, bill payments and home remittances.
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Consumers face over 55% tax on mobile phones
Mobile phone users pay over 55% of the price of a handset in taxes, which is exorbitant, reflects the narrow-mindedness of policymakers and requires urgent reduction in levies to promote digitisation, revealed proceedings of a parliamentary committee meeting. The National Assembly Standing Committee on Finance on Tuesday described heavy taxes on mobile handsets as irrational and narrow thinking that served the purpose of the Federal Board of Revenue (FBR) at the expense of the economy. The government was charging over 55% of the prices of mobile phones in taxes, disclosed Member Operations Customs of the FBR Shakil Shah. He explained that taxes were collected on the basis of six price bands, starting from the base price of $30 to over $500 per set. On a minimum value of $700, the FBR charges Rs16,000 mobile levy, Rs22,000 regulatory duty, Rs11,500 withholding tax and above all 25% of the value of the handset inclusive of taxes as sales tax. By imposing these four types of taxes on a single handset of over $700, the FBR collected Rs18 billion in the last fiscal year.
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