Business
PSX plummets by 4,600 points after weekend Afghan skirmish, TLP crackdown
The Pakistan Stock Exchange (PSX) plummeted by over 4,600 points on Monday due to continuing political uncertainty, the weekend conflict with Afghanistan and the ongoing crackdown on the Tehreek-i-Labbaik Pakistan.
The benchmark KSE-100 index opened at 163,098.19 points before dropping by 4,654.77 points, or 2.85 per cent, to close at 158,443.42.
The PSX had experienced a sharp decline over the previous week as a combination of global and domestic uncertainties dented investor sentiment.
Intense border clashes between Pakistan and Afghanistan that started late on Saturday night and continued into Sunday morning cast a shadow over the bourse. The Inter-Services Public Relations (ISPR) said 23 troops were martyred and 200 Taliban and affiliated terrorists were killed when Islamabad responded to aggression by Kabul.
Meanwhile, a crackdown against TLP protesters early Monday, who had been camped at Muridke after authorities blocked their route to Islamabad by digging up trenches, added more pressure.
“The new week opened on a sour note amid weekend reports of retaliatory action along the Afghan border and Friday’s global equity declines; risk aversion deepened as government measures against TLP fueled rumours of broader unrest,” said Yousuf M. Farooq, director of research at Chase Securities.
Last week, the KSE-100 index fell by nearly 3.5pc, weighed down by concerns over the delayed staff-level agreement (SLA) with the International Monetary Fund (IMF), geopolitical tensions in the region, and widespread profit-taking.
Additionally, selling pressure in insurance stocks, which saw a net sell of $25 million, further dampened market sentiment. Geopolitical risks, particularly last week’s blast in Kabul, added to the unease, heightening fears of escalating tensions with Afghanistan.
Business
PM Shehbaz announces reopening of new gas connections to domestic consumers
Prime Minister Shehbaz Sharif announced on Sunday the reopening of new gas connections after a ban of nearly four years, state broadcaster Radio Pakistan reported.
His announcement comes less than two months after the federal cabinet decided in September to lift the ban on domestic gas connections and supply regasified liquefied natural gas (RLNG).
Speaking about the cabinet’s decision in a post-meeting press conference, Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry, flanked by Petroleum Minister Ali Pervaiz Malik, had said PM Shehbaz decided to lift the ban on new gas connections imposed in 2021, addressing a longstanding public demand.
Addressing a ceremony related to the resumption of RLNG connections in Islamabad today, the premier reiterated that the government’s decision was in response to the “long-standing public demand”.
“In 2022, there was immense public pressure for [new] gas connections but the government was facing challenges,” Radio Pakistan quoted him as saying.
But, “with this landmark decision, the public will now be able to access affordable and quality fuel,” he added.
“Now, RLNG will be supplied throughout the country to a large number of applicants,” a report by state-run APP quoted him as saying.
According to the reports, a video message by Malik was also played during today’s ceremony, in which the petroleum minister said the government was committed to providing maximum facilities to the public.
He added that the Sui Northern Gas Company had brought down its line losses to 4.93 per cent while earning a profit of Rs29 billion in the previous fiscal year.
Business
Pakistan Engineering Development Board gets new chief
ISLAMABAD: After a gap of nine months, the government has appointed Hamad Ali Mansoor as the new chief executive officer (CEO) of the Engineering Development Board (EDB).
Mr Mansoor’s appointment, in the MP-I scale, is for a three-year term. The position had been vacant since January, and the recruitment process was initiated through an advertisement issued on Nov 17, 2024.
According to the Ministry of Industries and Production, a total of 248 applications were received. Thirty-three eligible candidates were shortlisted and interviewed by the selection committee in February. The committee recommended a panel of three candidates in order of merit: Hamad Ali Mansoor, Akhtar Ahmad Bughio and Shakeel Zahid.
Established in 1995, the EDB functions under the Ministry of Industries and Production to promote, facilitate and regulate the engineering sector in Pakistan.
Mr Mansoor holds an undergraduate degree in mechanical engineering and an MBA from the Schulich School of Business, York University, Toronto. He has over three decades of experience in industrial policy, manufacturing and infrastructure development, with a focus on renewable energy and sustainable growth.
Published in Dawn, October 26th, 2025
Business
PPP reaffirms commitment to farmers
ISLAMABAD: The PPP has reiterated its commitment to supporting the farming community and vowed to continue its struggle to end all injustices faced by the farmers.
“PPP remains committed to respecting, empowering, and reviving the agricultural sector for a prosperous Pakistan,” said the party’s Central Information Secretary Shazia Marri. She quoted PPP Chairman Bilawal Bhutto-Zardari as saying that no economy can be strong if its farmers are weak.
“Chairman Bilawal Bhutto-Zardari believes that strengthening the farmer means strengthening Pakistan itself,” Ms Marri said in a statement issued on Saturday.
Ms Marri said that Bilawal Bhutto-Zardari’s vision was clear — the true measure of progress lies in the prosperity of farmers. She recalled that during the PPP government, Pakistan had moved from wheat shortage to becoming a wheat-exporting country, owing to farmer-friendly policies.
She said that the PPP chairman had always stood by the farmers, advocating for timely procurement and fair prices.
Highlighting the impact of climate change, the PPP leader said that it posed a serious threat to every Pakistani farmer. She added that Bilawal Bhutto-Zardari emphasised the need for investment in sustainable and climate-resilient agriculture, envisioning a modern agricultural economy where small farmers could progress through technology and access to fair markets.
She said the PPP believed that insurance, credit access, and transparent governance were essential to protect farmers from the adverse effects of climate change.
Ms Marri appreciated the government’s decision to allow wheat procurement, terming it a longstanding demand of the PPP. She added that approving the support price for wheat was also a PPP demand; however, she noted that fixing the price at Rs4,000 instead of Rs3,500 per 40kg would have been more beneficial for farmers. She further said that reducing the income tax from 45 per cent to 15pc was an important relief measure for the farming community.
Published in Dawn, October 26th, 2025
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