Business
Exports to five central Asian states contract
ISLAMABAD: Pakistan’s exports to five central Asian countries (CACs) shrank 9.59 per cent year-on-year during the first four months of the current fiscal year.
The country’s exports to the region have yet to attain their full potential. Similarly, imports from Kazakhstan, Tajikistan, and Uzbekistan to Pakistan have dipped 63.59 percent despite regular high-profile visits to increase the volume of bilateral trade.
In absolute terms, the value of Pakistan’s exports to the five central Asian countries — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan — dipped by 9.59pc to $62.545 million in July-October 2025-26 from $69.183m. Imports from the region dipped by 63.59pc to $15.795m in 4MFY26 from $43.392m. The majority of these imports came from Tajikistan, Uzbekistan and Turkmenistan.
Pakistan’s trade with CACs is between $400 and $500m annually via Afghanistan. Uzbekistan has already implemented its transit trade agreement with Pakistan. Under the agreement, Uzbekistan has started importing goods under the transit agreement as well.
The exports to almost all countries posted a negative growth except Uzbekistan. Similarly, imports dropped during the first four months of the current fiscal year.
Exports to Turkmenistan stood at $0.505m in 4MFY26 from $0.663m over the corresponding months last year, showing a decline of 23.83pc. Imports from Turkmenistan rose 12.64pc to $3.92m against $3.48m over the corresponding months last year.
The export to Uzbekistan surged 51.63pc to $32.95m in 4MFY26 against $21.73m in the corresponding months last year. Imports plunged by 73.85pc to $8.49m from $32.47m.
Shipments to Kazakhstan dropped 16.72pc to $24.54m in 4MFY26 compared to $29.47m. Imports stood at $0.263m against $0.313m over the corresponding months of last year.
Published in Dawn, December 9th, 2025
KARACHI: As anticipated, the inflow of $1.2 billion from the International Monetary Fund (IMF) and an increase in workers’ remittances on Tuesday enthused economic optimism among the equity investors, triggering aggressive value-hunting, which helped the benchmark KSE 100 index to scale an all-time high above the 169,000-point barrier as remittance data also fuelled the rally.
The inflow has alleviated concerns about potential delays following the release of the long-awaited Governance and Corruption Diagnostic Assessment (GCDA) on Nov 20. This assessment highlighted systemic weaknesses within state institutions and emphasised the need for immediate action to address ongoing corruption challenges.
Yesterday, the finance minister, in a calling attention notice in the national assembly, informed the house that the government was set to finalise an action plan by Dec 31 to implement the 15 key recommendations outlined in the IMF’s assessment report.
According to Topline Securities, the bulls dominated the session, lifting the benchmark index to new heights. After soaring to an intraday high of 1,297 points, the market closed at a record-breaking 169,456, gaining 1,153 points or 0.69 per cent.
The rally drew further strength from the IMF’s approval of nearly $1bn under the Extended Fund Facility and $220m under the Resilience Sustainability Fund, a decision that keeps the two loan programmes worth $8.4bn firmly on track and boosted investor sentiment.
This stellar momentum was driven by robust, persistent buying from local mutual funds, which revived sentiment and kept the rally firmly anchored. Market heavyweights Fauji Fertiliser, Lucky Cement, Habib Bank, PSO and Maple Leaf Cement led the advance, collectively contributing roughly 640 points to the benchmark’s impressive rise.
With strong flows, encouraging macro signals, and reinvigorated sentiment, the record close reinforces the bullish momentum carrying the market forward.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said that strong momentum continued at PSX, with IMF inflows as the key driver of the rally.
On the macro front, remittances rose 9pc to $3.19bn in November, though they declined 7pc month-on-month. For 5MFY26, inflows climbed 9pc year-on-year to $16.14bn.
PSO also gained 2.37pc amid reports that the ECC was likely to increase profit margins for OMCs and petroleum dealers later in the day.Market activity remained robust, as the trading volume surged 31.76pc 1.03bn shares. However, the traded value rose by a meagre 2.7pc to Rs51.3 bn. K-Electric topped the volume chart with 86.7 million shares.
Published in Dawn, December 10th, 2025
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