Friday, December 19 2025

PSX nears 172k on funds buying
The Pakistan Stock Exchange (PSX) extended its record-breaking rally on Thursday as the KSE-100 index closed at a fresh all-time high and approached the 172,000 mark. Buying momentum was driven by improved investor confidence following better-than-expected November current account data and reduction in Pakistan Investment Bond (PIB) yields. Key stocks including Engro Holdings, Fauji Fertiliser Company and UBL led gains, while declines in Pioneer Cement, DH Partners and Maple Leaf Cement partially offset the advance. "Buying momentum remained firm throughout the day, driven by a better-than-expected current account for November, which improved investor confidence and encouraged fresh positioning across key sectors," said Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL).
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World Bank urges Pakistan to reform gas sector, split utilities for debt control
The World Bank is pushing Pakistan to develop a road map for gas-sector reforms to unbundle the public utilities aimed at bringing efficiency, controlling losses and curtailing circular debt. The bank also wants the government to unbundle the distribution and transmission network of gas utilities and set up more firms by splitting the existing two companies. At present, two public gas utilities – Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) – are catering to needs of consumers across the country. Owing to a wide network, they have not been able to curb losses, resulting in the accumulation of circular debt, which has now reached Rs2.6 trillion. The planned new measures in the gas sector will help to reduce the debt. Earlier, the power sector faced a circular debt of Rs2.6 trillion for years that impacted the performance of energy chain.
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Pakistan advances cashless economy with focus on digital banks, financial inclusion
Minister for Finance and Revenue Senator Muhammad Aurangzeb stated on Thursday that the national drive towards digitisation had gained strong momentum, with performance targets being pursued through a coordinated approach that encompasses digital infrastructure, payment systems and rails, as well as the digitisation of government-related payments. He said the push was aimed at broadening digital acceptance and reducing reliance on cash. He was talking to a delegation comprising Douglas Feagin, President of Ant International and Senior Vice President of Ant Group; Irfan Wahab Khan, Chairman of Easypaisa Digital Bank; and Jahanzeb Khan, President and Chief Executive Officer of Easypaisa Digital Bank, according to a press release. The meeting focused on accelerating Pakistan's transition towards a cashless and digitally enabled economy, with emphasis on financial inclusion, stronger digital payments and wider access to formal financial services for small businesses.
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ECC approves Rs200b power subsidy to keep circular debt within IMF-agreed limits
As the government projects an alarming increase of Rs491 billion in circular debt within six months, a cabinet body on Thursday approved Rs200 billion power subsidies to keep the flow of the debt within limits agreed with the International Monetary Fund. The Economic Coordination Committee of the Cabinet that took the decision also approved Rs11.5 billion for discretionary spending on the parliamentarians’ schemes in total disregard to the nation’s fiscal health. The ECC approved a “supplementary grant amounting to Rs200 billion under the head of government of Pakistan investment in DISCOs’ equity to address cash flow constraints in the power sector”, according to an announcement by the Ministry of Finance after the meeting.
Related news categories: business economic-indicators power-gen-dist

Maple Leaf Cement to acquire majority stake in Pioneer Cement for $270.5mn
Maple Leaf Cement Factory Limited (MLCF) has launched a public offer to acquire up to 11.72% of Pioneer Cement Limited (PIOC) at Rs478.43 per share, following a prior agreement to purchase a 58.03% stake at the same rate. The combined transaction, representing 69.75% of PIOC’s shares, amounts to Rs75.8 billion ($270.5 million), according to filings submitted to the Pakistan Stock Exchange (PSX) on Thursday. The move will give MLCF management control of Pioneer Cement. “MLCF currently owns 17,321,046 shares constituting 7.63% of the issued and paid-up ordinary shares capital of PIOC of the face value of Rs10 each. “Maple Leaf Capital Limited (MLCL), an associated company of MLCF, currently owns 24,609,001 shares constituting 10.83% of the issued and paid-up ordinary shares capital of PIOC of the face value of Rs. 10 each. Waleed Tariq Saigol, a director in MLCF, currently owns 152,000, constituting 0.07% of the issued and paid-up ordinary shares capital of PIOC of the face value of Rs. 10 each.
Related news categories: business cement economic-indicators psx stock-exchanges
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