Tuesday, March 25 2025

Shares at PSX reverse gains, plunge 2,000 points on IMF concerns
Shares at the Pakistan Stock Exchange (PSX) reversed major gains on Monday as the KSE-100 index shed more than 2,000 points on International Monetary Fund (IMF) concerns over electricity tariffs. The benchmark KSE-100 index shed 2,002.55 points, or 1.69 per cent, to stand 116,439.62 from the last close of 118,442.17 points. Topline Securities, a brokerage firm in Karachi, noted that the market faced downward pressure due to IMF “concerns over the lack of adjustments to electricity tariffs and no reduction in property taxes, as reported in the news”. Earlier, it was widely reported in the media through official leaks that the prime minister would announce a Rs8 per unit reduction in electricity rates in his speech to the nation on March 23. The prime minister, however, did not announce any such relief package in his Pakistan Day speech.
Related news categories: business economic-indicators psx stock-exchanges

Stocks slump on profit-taking
Pakistan Stock Exchange (PSX) on Monday took a deep dive after hitting record highs last week as the KSE-100 index plunged over 2,000 points primarily due to institutional profit-taking across various sectors. Market jitters were compounded by reports of the International Monetary Fund's (IMF) disapproval of policy changes including a reduction in property transaction rates, lowering March 2025 tax target and slashing industrial power tariffs, which weighed heavily on investor sentiment. Additionally, the negative impact of rising Karachi Inter-bank Offered Rate (Kibor) and an increase in royalty on cement manufacturers in Khyber-Pakhtunkhwa (K-P) further contributed to the market's downturn.
Related news categories: business economic-indicators psx stock-exchanges

Gold prices range-bound amid selling pressure
In recent weeks, buoyant gold prices have remained range-bound in Pakistan, rising by only Rs600 on Monday, reflecting a similar trend in the international market and reaching Rs318,600 per tola. The price of 10-gram gold stood at Rs273,148 after a gain of Rs515, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). International gold prices for Pakistan also saw a modest rise. As per APGJSA, the global gold rate stood at $3,027 per ounce (including a $20 premium), marking an increase of $5 during the day. Despite the mild rise, market analyst Adnan Agar, Director of Interactive Commodities, highlighted the downward pressure in the market. He noted that gold opened at $3,024 per ounce, peaked at $3,033, and later dropped to $3,007. According to Agar, the market is experiencing selling pressure, and if the price closes below $3,000, it could decline further to $2,960. He emphasised that the market's movement beyond this level will be crucial in determining the next trend.
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Govt-private sector collaboration key to industrial growth
Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, emphasised on Monday that collaboration with the private sector is essential to addressing large-scale industrial production challenges. During a meeting with Engro Corporation Chairman Hussain Dawood, Khan highlighted the government's efforts to promote investment and create an enabling environment for industrial growth. According to a press release issued by the ministry, the discussion focused on restoring business confidence and facilitating ease of doing business in Pakistan. Both sides stressed the need for large-scale institutional investment and active private sector participation to accelerate economic progress. "The government is taking all possible measures to encourage investment and ensure sustainable economic development," said Khan.
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Scams, overcharging hamper e-transactions
To promote digital prosperity and the economy, key pillars of the local digital landscape—such as e-commerce, quick commerce, e-delivery services, and fintech—are playing a vital role in making businesses and e-transactions convenient, user-friendly, and fast for both novice and expert users. However, these platforms require strict monitoring to eliminate phishing and other malpractices and address existing challenges. These sectors include quick commerce and e-commerce, self-service banking solutions, and currency technology solutions. Additionally, financial inclusivity is being enhanced through cutting-edge payment solutions. Apart from tech, software, and IT companies that act as enablers, web and app development firms specialise in assisting startups at all stages.
Related news categories: business economic-indicators tech-comm