Friday, April 03 2026

PSX remains under selling pressure amid negative cues
The Pakistan Stock Exchange (PSX) remained under the grip of selling pressure amid geopolitical volatility and an increase in international oil prices, with the benchmark KSE-100 Index shedding over 2,200 points during the opening hours of trading on Friday. At 9:25am, the benchmark index was hovering at 149,780.66, down by 2,230.60 points or 1.47%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks and fertiliser. Index-heavy stocks, including LUCK, HBL, MCB, MEBL, NBP, ENGRO and FFC, traded in the red. On Thursday, PSX came under renewed selling pressure as negative global cues triggered broad-based liquidation, dragging benchmark indices sharply lower and eroding a significant portion of the previous session’s gains. The benchmark KSE-100 Index closed at 152,011.26 points, down 3,500.30 points (2.25%).
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PTA grants NOC for Telenor Pakistan, PTML merger
Pakistan Telecommunication Authority (PTA) has issued a No Objection Certificate (NOC) for the consolidation and transfer of PTA licenses as well as the amalgamation of Telenor Pakistan (Private) Limited into Pak Telecom Mobile Limited (PTML), each a wholly owned subsidiary of Pakistan Telecommunication Company Limited. PTCL informed the Pakistan Stock Exchange (PSX) in a notice on Friday. “The proposed amalgamation shall be implemented through a scheme of arrangement in accordance with applicable laws,” the notice read. On March 24, the PTA had approved the proposed amalgamation of Pak Telecom Mobile Limited (PTML) and Telenor Pakistan (Private) Limited. It said that the approvals were subject to the submission of an unconditional acceptance of the conditions within 15 days. “The proposed amalgamation shall be implemented through a scheme of arrangement in accordance with applicable laws,” the listed company informed the bourse. In January, the PTCL formally submitted an application to the PTA seeking approval for the merger.
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Barrick slows Pakistan’s Reko Diq project amid heightened security risks
Barrick Mining Corporation, a leading global mining, exploration and development company, has announced to slow development activity at its flagship Reko Diq copper-gold project in Pakistan, citing escalating security concerns and rising risks in the region, while reaffirming its long-term commitment to the multibillion-dollar venture. Providing an update on the status of the Reko Diq project, Barrick said it continues to believe in the long-term value of Reko Diq. “Following the preliminary findings of the review and the further escalation of security issues in Pakistan and the region, the company considers it necessary to slow the development activity and continue the project review until mid-2027. “The continued review will allow the company to assess in a comprehensive manner the evolving security situation, capital requirements, project financing, project scope and timeline,” read an official statement. However, while development activity will be slowed, the project will remain under active management with a reduced capital spend. Development of Phase 1 of the Reko Diq project was approved on this basis. Barrick said it recognises its important role in the local community and intends to continue investing in and honouring its existing in-country community and social programs.
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Pakistan’s limited internet infrastructure raises DDoS risk
Pakistan’s dependency on limited submarine cable landing stations and Internet Exchange Points (IXPs) is emerging as a critical national vulnerability, significantly heightening exposure to large-scale Distributed Denial of Service (DDoS) disruptions. This has been revealed in the ‘Guidelines for Mitigation of Distributed Denial of Service (DDoS) Attacks’ released by the Pakistan Telecommunication Authority (PTA). It further noted that while major telecom operators have deployed anti-DDoS mechanisms, many of these systems are built on legacy technologies that are increasingly ineffective against today’s fast-evolving, multi-vector cyber threats. The gap between existing defenses and modern attack sophistication is widening, here there is a growing need to enhance these systems to ensure consistent and robust protection across networks.
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PCDMA urges govt to improve port, transport infrastructure
Pakistan Chemicals & Dyes Merchants Association (PCDMA) Chairman Salim Valimuhammad has said that the Karachi Port is witnessing an unprecedented increase in transshipment activity, describing the development as a significant opportunity for our trade and logistics sector. He said disruptions in shipping operations in Dubai, coupled with ongoing regional tensions, had led several international shipping lines to divert cargo traffic towards Pakistan. As a result, he said, the Karachi Port handled 8,313 containers in just the first 24 days of March 2026. This is right figure, a figure equivalent to the total number of containers processed during the whole of 2025, he said. Valimuhammad said cargo movement at the Port Qasim has also increased, indicating growing confidence among global shipping operators in Pakistan’s port facilities.
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