Cement, urea and oil stocks lift Pakistan market to new peak above 168,000

Cement, urea and oil stocks lift Pakistan market to new peak above 168,000
A stockbroker walks past share prices on a financial market board during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on April 9, 2025. (AFP/File)
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Updated 2 min 55 sec ago

Cement, urea and oil stocks lift Pakistan market to new peak above 168,000

Cement, urea and oil stocks lift Pakistan market to new peak above 168,000
  • KSE-100 index shot up by 0.3 percent, or 500.45 points, to close at 168,995.74
  • Pakistan’s cement sector posted a 16.2 percent increase in the third quarter of 2025

ISLAMABAD: The Pakistan Stock Exchange (PSX) breached the 168,000 mark on Friday, hitting a record high, with analysts attributing the gains to cement, urea and oil stocks driving the market rally.

The benchmark KSE-100 index rose by 0.3 percent, or 500.45 points, to close at 168,995.74 points as compared to the previous close of 168,489.62 points, according to the PSX data.

Ahsan Mehanti, chief executive officer of Arif Habib Commodities, said stocks hit an all-time high on speculation ahead of major earnings announcements expected next week.

“Reports of a surge in cement sales by 16 percent, urea sales by 18 percent and oil sales by six percent year on year for September 2025 [affected the market sentiment],” he told Arab News. “Repayments to Pakistan State Oil for power sector circular debt dues and rupee stability also played a catalytic role in record bullish activity at PSX.”

Pakistan’s cement sector posted a 16.2 percent increase in the third quarter of 2025 by touching 12.1 million tons, recording an increase of 1.7 million tons from the same period last year.

Domestic sales, according to All Pakistan Cement Manufacturers Association, rose by 15 percent to 9.5 million tons compared to 8.3 million tons last year while cement exports grew by 21 percent to 2.5 million tons.

Urea sales in Pakistan also rose to 816,000 tons in August, up 46 percent year-on-year and 34 percent month-on-month, according to Pakistan’s National Fertilizer Development Center.

Meanwhile, Muhammad Saad Ali, Head of Research at Lucky Investments, said strong liquidity and positive news on the geopolitical and foreign policy fronts boosted market optimism.

“But I think more recently banks have stretched the rally and today there was optimism around refinery policy and refinery sector,” he added.

“Generally, the market mood is positive, every week they pick a sector and rally that, banks have done quite well, and refineries are also in the limelight.”

Pakistan’s stock market has outperformed all other asset classes this year, repeatedly breaking record highs as strong corporate earnings, robust liquidity and improving investor sentiment drive gains.


Sindh vows action against parents refusing polio vaccination as cases rise across Pakistan

Sindh vows action against parents refusing polio vaccination as cases rise across Pakistan
Updated 5 sec ago

Sindh vows action against parents refusing polio vaccination as cases rise across Pakistan

Sindh vows action against parents refusing polio vaccination as cases rise across Pakistan
  • Authorities may block IDs, SIM cards and passports of parents turning away inoculation teams
  • Over 216,000 children in Sindh missed September vaccination, with 35,000 whose parents refused

KARACHI: The provincial administration of Sindh on Friday announced tough measures against parents refusing polio vaccination for their children, as the country grapples with a rising number of cases of the crippling disease.

Last month, the National Institute of Health confirmed two poliovirus cases in the province, raising the nationwide tally to 29 this year. Pakistan remains one of the two countries, alongside Afghanistan, where polio is still endemic.

Efforts to eradicate the virus have been undermined by parental refusals, misinformation and militant attacks on vaccination workers. In some areas, inoculation teams operate under police protection, but security personnel have also been targeted and killed.

“I have no other option but to penalize those who shirk their national responsibility of eradicating polio,” Shah Chief Minister Murad Ali Shah told officials at a meeting in Karachi, according to a statement circulated by his office. “This responsibility begins at home and affects the entire province and the country.”

The statement said Shah’s administration was considering blocking national identity cards, mobile SIM cards and passports of parents refusing vaccination to deny them travel and communication privileges.

The chief minister also ordered the establishment of a polio refusal cell, directing the health authorities to provide detailed data on refusing parents at the union council level so refusals can be countered through social, political and administrative channels.

He also instructed that vaccination be ensured in all such households.

Shah asked the provincial chief secretary to prepare a plan to block IDs, SIMs and passports, adding that the forthcoming Oct. 13 vaccination campaign should be run like a “war strategy” and warning that negligence would not be tolerated.

Some health and administrative officials have already been removed for poor performance, he said, and more could follow.

Polio is a highly infectious and incurable disease that can cause lifelong paralysis. The only protection is repeated doses of the Oral Polio Vaccine for every child under five, alongside routine immunizations.

Pakistan recorded 74 cases in 2024, up from six in 2023 and just one in 2021.

The official statement said Sindh had reported nine cases so far this year, with many of the infections, particularly in Karachi and Malir, linked to parental refusals.

Environmental samples from several Karachi neighborhoods have also tested positive for the virus.

During the September campaign, over 216,000 children in the province missed vaccination, including 35,000 whose parents refused.
 


Thousands rally in Pakistan amid global protests over Israel’s interception of Gaza aid flotilla

Thousands rally in Pakistan amid global protests over Israel’s interception of Gaza aid flotilla
Updated 03 October 2025

Thousands rally in Pakistan amid global protests over Israel’s interception of Gaza aid flotilla

Thousands rally in Pakistan amid global protests over Israel’s interception of Gaza aid flotilla
  • Protests were held after Friday prayers across Pakistan on the call of a religio-political party
  • The flotilla was an attempt to breach Israel’s siege of Gaza, where millions are facing hunger

KARACHI: Thousands of people staged pro-Palestine demonstrations after the Friday prayer congregations across Pakistan, joining global protests against Israel’s seizure of an aid flotilla with high-profile international rights activists and a former Pakistani senator attempting to breach the blockade of Gaza.

The rallies were held on the call of a prominent religio-political party, Jamaat-e-Islami (JI) over the interception of the Global Sumud Flotilla, which set sail in late August and was transporting medicine and food to the besieged Palestinians in Gaza.

The convoy consisted of more than 40 civilian vessels with about 500 parliamentarians, lawyers and activists and was intercepted on Wednesday by Israeli forces. Organizers said the flotilla aimed to highlight what the United Nations has described as “famine conditions” in Gaza after nearly two years of war.

“All the nations in the world should raise their collective voice against Israel’s atrocities,” Monem Zafar Khan, the JI chief in Karachi, said while addressing a demonstration outside a mosque in Karachi.

“The blockade of Gaza is a crime against humanity and those trying to break it should be supported,” he added.
Gaza has faced a significant humanitarian crisis since the imposition of Israel’s blockade in March this year, which severely restricted access to food, water and medical supplies for its residents. Aid agencies and the United Nations have warned of mass starvation and rising child malnutrition in the region, home to around two million people, where only a few humanitarian trucks have been allowed in.

Israel has launched a sweeping offensive in Gaza since October 2023, killing more than 65,000 people, most of them women and children.

The JI Karachi chief also called upon the Pakistan government to secure release of his party member and ex-senator Mushtaq Ahmed Khan, who was part of the flotilla and is believed to be in Israeli’s detention.

Pakistan’s foreign office condemned Israel’s interception of the flotilla and said it was working with international partners to secure the release of its nationals. Prime Minister Shehbaz Sharif also praised their “dignified participation” in the effort to help the residents of Gaza while calling for their immediate return.

Large demonstrations were also held in other cities such as Lahore, Islamabad, Peshawar, Multan, Faisalabad and Quetta.

In Karachi, hundreds waving Palestinian flags and chanting anti-Israel slogans poured into the streets outside the mosques in various neighborhoods of the city.

Meanwhile, in Israel’s southern port of Ashdod, the country’s far-right National Security Minister Itamar Ben-Gvir was filmed visiting the site where activists were being held, accusing them of supporting “terrorism” in a video that was circulating on Friday.

In the footage, the activists are seen sitting cross-legged on the floor while Ben-Gvir stands and delivers his accusations. One person is heard shouting back “Free Palestine” but it was not immediately clear from the footage who that was.

By Friday afternoon, at least four Italian citizens were deported, Israel’s Foreign Ministry posted on X. “Israel is keen to end this procedure as quickly as possible,” the ministry said.

The developments come after protests were also reported in London, Paris, Madrid, Sydney and Buenos Aires, with demonstrators carrying banners reading “Free Gaza” and “End the Siege.”

Pakistan, which does not recognize Israel, has seen regular demonstrations since the Gaza war broke out nearly two years ago, led largely by religio-political parties.

JI has also given a call for a march in Karachi on Sunday, hoping it to be one of the largest pro-Palestinian rallies in the country this year.


Pakistan, discuss expanding cooperation in digital infrastructure and services

Pakistan,  discuss expanding cooperation in digital infrastructure and services
Updated 03 October 2025

Pakistan, discuss expanding cooperation in digital infrastructure and services

Pakistan,  discuss expanding cooperation in digital infrastructure and services
  • IT minister meets STC officials in Riyadh to explore investment in Pakistan’s $3.8 billion IT market
  • Bilateral ties have deepened after $2.8 billion MoUs, new defense pact to strengthen joint deterrence

KARACHI: Pakistan and on Friday discussed expanding cooperation in digital infrastructure and services during a meeting between Pakistan’s IT minister Shaza Fatima Khawaja and officials of the Saudi Telecom Company (STC) in Riyadh, as both nations push to diversify their decades-long partnership.

The two countries have long enjoyed close ties, but in recent years have sought to broaden and deepen their cooperation further. During Prime Minister Shehbaz Sharif’s visit to Riyadh in October 2024, they signed 34 memoranda of understanding worth $2.8 billion across multiple sectors.

Last month, they went a step further by signing a bilateral defense pact that treats aggression against one country as an attack on both, a move aimed at strengthening joint deterrence and cementing decades of military and security collaboration.

“Partnership with STC was discussed in the context of the Connect Pakistan 2030 policy,” the IT ministry said in a statement issued after the meeting, referring to a proposed five-year strategy to accelerate the country’s digital transformation.

“The talks focused on cooperation in fiber networks, cloud, cybersecurity and fintech,” it added. “Pakistan’s $3.8 billion IT export market and 200 million mobile users were described as attractive for investment.”

STC is the largest telecom operator in and the Gulf Cooperation Council (GCC) region, playing a central role in the Kingdom’s Vision 2030 digital agenda.

During the meeting, the two sides explored business and investment opportunities and discussed ways to strengthen Pakistan’s role as a regional transit hub, connecting the Gulf states with other countries.

They also examined potential partnerships in submarine cables and digital connectivity projects, underscoring Pakistan’s strategic importance in regional data corridors.

Beyond telecom, Pakistan and are also seeking to deepen agricultural cooperation, with Pakistan’s food security minister telling Arab News this week that Prime Minister Sharif is expected to visit the Kingdom later this month, when key announcements on enhanced bilateral ties are likely to be made.


Pakistani foreign minister says Trump’s 20-point Gaza peace plan ‘not ours’

Pakistani foreign minister says Trump’s 20-point Gaza peace plan ‘not ours’
Updated 03 October 2025

Pakistani foreign minister says Trump’s 20-point Gaza peace plan ‘not ours’

Pakistani foreign minister says Trump’s 20-point Gaza peace plan ‘not ours’
  • Ishaq Dar’s comments about the peace plan not being in line with the draft presented by Muslim states raise questions about Islamabad’s position on the roadmap
  • The plan calls for a ceasefire, an exchange of hostages and prisoners, a staged Israeli withdrawal, Hamas disarmament and Gaza’s reconstruction with global support

ISLAMABAD: Pakistan’s foreign minister, Ishaq Dar, said on Friday that United States President Donald Trump’s 20-point Gaza peace plan was not in line with a draft proposed by a group of Muslim countries.

Trump presented the peace plan for Gaza and the Middle East during his meeting with leaders of Pakistan, , the UAE, Indonesia, Turkiye, Qatar, Egypt and Jordan last month on the sidelines of the United Nations General Assembly (UNGA) session.

The meeting came in the backdrop of Israel’s ramping up of its military operations in Gaza, where it has killed over 65,000 people since October 2023, as well as Israeli attacks against other regional states, with Muslim nations demanding the world hold Tel Aviv accountable.

While Pakistani Prime Minister Shehbaz Sharif this week voiced his support for Trump’s roadmap, Dar told parliament on Friday that changes were made to the draft presented to the US officials by the eight Muslim nations, following consultations among them.

“I have made it clear that these 20 points which Trump has made public are not ours. These are not the same as ours. I say that some changes have been made in it, in the draft we had,” he said.

On Monday, Trump published the plan to end Israel’s nearly two-year war on Gaza, which has killed more than 65,000 Palestinians. It calls for a ceasefire, an exchange of hostages and prisoners, a staged Israeli withdrawal, Hamas disarmament and Gaza’s reconstruction with international support.

“I welcome President Trump’s 20-point plan to ensure an end to the war in Gaza. I am also convinced that durable peace between the Palestinian people and Israel would be essential in bringing political stability and economic growth to the region,” Pakistan PM Sharif said in an X post on Sept. 29.

“It is also my firm belief that President Trump is fully prepared to assist in whatever way necessary to make this extremely important and urgent understanding to become a reality.”

Dar this week said the Pakistani leadership would decide whether to contribute troops to a special peacekeeping force in Gaza proposed under Trump’s peace plan.

“Gaza peace plan envisaged deploying a peace force in Palestine,” Dar said during a media briefing on Tuesday.

“Pakistani leadership will decide on sending troops for the special peacekeeping force in Gaza, as Indonesia has announced the deployment of 20,000 troops for the purpose.”

However, his latest comments about the peace plan not being in line with the draft presented by the eight Muslim states has raised questions about Islamabad’s position on the roadmap.

In his Sept. 29 post on X, Sharif had also lauded Trump’s leadership and the “vital role” played by Special Envoy Steve Witkoff in trying to bring an end to Israel’s war on Gaza.

“I also strongly believe that the implementation of the two-state proposal is essential to ensure lasting peace in the region,” he had said. 


Pakistan’s trade deficit widens 46% year on year in September

Pakistan’s trade deficit widens 46% year on year in September
Updated 03 October 2025

Pakistan’s trade deficit widens 46% year on year in September

Pakistan’s trade deficit widens 46% year on year in September
  • Trade deficit increased by $1.05 billion from $2.29 billion in the same month last year
  • Pakistan’s top imports included petroleum products, machinery, gas, steel and cotton

ISLAMABAD: Pakistan’s trade deficit widened 46% in September to $3.34 billion as imports outpaced exports, the country’s statistics bureau said on Thursday, adding pressure on the country’s foreign exchange reserves.

The development comes as the cash-strapped country struggles to stabilize its foreign exchange reserves, amid looming debt repayments and limited avenues of fresh inflows. The total liquid reserves held by the country stood at $19.80 billion as of September 26, according to the State Bank of Pakistan.

The latest data from the Pakistan Bureau of Statistics (PBS) revealed that the trade deficit had increased by $1.05 billion, compared to $2.29 billion in the same month last year.

“Last month, the country’s imports surged 14% to $5.85 billion vs $5.13 billion last year,” the PBS said in its report. “Exports declined 12% to $2.5 billion vs $2.84 billion year earlier.”

The trade gap widened 33% to $9.37 billion in the third quarter of 2025, compared to $7.05 billion in the same period last year, according to the report. Pakistan’s exports fell 4% from $7.91 billion to $7.6 billion on a quarterly basis, while imports surged 13.5% from $14.9 billion to $16.9 billion.

The trade gap underscores structural weaknesses in Pakistan’s export base, dominated by low value-added textiles, while the country remains heavily reliant on costly fuel and machinery imports. The South Asian nation remains heavily reliant on foreign petroleum products, importing $17.9 billion in FY2024-25, almost equal to its textile export earnings.

Pakistan’s top exports this year included knitwear, readymade garments, bedwear, cotton, cloth, rice, towels, made-up articles, fruits, cotton yarn and basmati rice, according to the PBS. Items imported during the same period were petroleum products, crude oil, palm oil, electric machinery and apparatus, plastics, iron and steel, liquified natural gas, mobile phones and raw cotton.