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

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ISLAMABAD: Pakistan and Iran have agreed to explore new avenues of cooperation in the blue economy by strengthening road, rail and maritime connectivity to facilitate regional trade and promote people-to-people contacts.

The understanding was reached during a meeting between Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and Iran’s Minister for Roads and Urban Development, Farzaneh Sadegh. Both sides underlined the importance of regional connectivity for expanding trade, investment and transport links.

The ministers discussed initiatives to enhance maritime trade, develop port infrastructure and improve logistical routes connecting the two countries by sea, land and rail.

Ferry service proposed to facilitate pilgrims, promote religious tourism

Mr Chaudhry proposed launching a ferry service between Pakistan and Iran to provide an affordable and efficient transport option for traders and pilgrims. He said Pakistani authorities would welcome Iranian companies interested in operating such a service, noting that Iran’s lower fuel prices could help reduce fares.

He added that in 2025, about 60,000 to 70,000 Pakistani pilgrims travelled to Iran and Iraq by air, and a ferry service could significantly increase those numbers. The minister also said a centralised pilgrim management policy would be introduced next year, requiring all pilgrims to travel through registered tour operators to improve safety and coordination.

Mr Chaudhry noted that expanding religious tourism could bring economic benefits to both countries and called for cooperation to develop the necessary infrastructure.

The Iranian minister welcomed Pakistan’s proposals and said both countries’ ports could serve as gateways for regional commerce. She reaffirmed Iran’s commitment to enhancing port-to-port cooperation and exploring trade routes in the Arabian Sea and the Persian Gulf.

“The ports of both countries are key economic assets,” Ms Sadegh said. “By improving maritime and transport connectivity, we can open new opportunities for regional trade and economic cooperation.” Both sides reiterated their commitment to deepening collaboration in the maritime and transport sectors as part of broader efforts to promote the blue economy and strengthen bilateral relations.

Published in Dawn, October 26th, 2025

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KARACHI: The Pakistan Stock Exchange (PSX) showed little movement in the outgoing week, closing marginally lower despite strong macroeconomic data and easing geopolitical tensions.

The index declined by 502 points or 0.31 per cent week-on-week to 163,304.13, primarily due to profit-taking by investors and selling pressure, particularly from mutual funds, which were rumoured to be redeeming positions. This trend was reflected in the National Clearing Company’s data.

While overall market sentiment was subdued, macroeconomic indicators, such as a current account surplus and a slight increase in foreign direct investment (FDI), provided some stability. Despite these developments, the market’s mixed sentiment highlights the challenges investors face amid fluctuating earnings and uncertain global economic conditions.

In September, Pakistan’s current account posted a surplus of $110 million, a notable improvement from the $52m deficit recorded in the same month last year. On a year-on-year basis, the country’s FDI increased slightly to $186m in September, compared to $175m in August. However, for the first quarter of FY26, net FDI inflows dropped by 34pc to $569m, compared to $865m during the same period last year.

Index stagnates on profit-taking, mutual fund redemptions

The market’s mixed sentiment was also reflected in the average daily trading volume, which decreased to 1.5bn shares, and the average daily traded value, which stood at Rs49.6bn. This represented a decline in market participation from the previous week.

Macroeconomic data released during the week was relatively positive, with IT exports for September reaching a record high of $366m, up 25pc year-on-year. Power generation in September also showed a modest year-on-year increase of 0.8pc to 12,592 GWh, though it fell short of the reference target of 13,300 GWh. The cost of power generation dropped by 15pc year-on-year to Rs7.09 per kWh, driven by lower oil prices.

The country’s foreign exchange reserves also rose slightly, by $14m week-on-week to $14.45bn, providing some support to the local currency. The rupee remained stable against the US dollar, closing at Rs281.02, unchanged from the previous week.

Looking ahead, analysts expect the KSE-100 index to remain volatile, with investor attention shifting to the upcoming Monetary Policy Committee meeting on Monday, where a decision on interest rates is anticipated. With select stocks continuing to report quarterly results, market sentiment may be influenced by earnings performance. Moreover, any updates regarding the International Monetary Fund’s (IMF) Executive Board approval could further impact investor confidence.

Despite the recent dip, the KSE-100 remains attractively priced, trading at a price-to-earnings ratio (PER) of 8.58x, close to its 15-year average of 8.59x. The market offers a dividend yield of approximately 5.5pc, slightly below its historical average of 6.11pc. This, coupled with the lack of attractive alternative investment options, makes equities an appealing choice for some investors, particularly given the uncertain global economic outlook.

Market sentiment in the coming week is likely to be shaped by the progress of Pakistan’s negotiations with the IMF and the potential for foreign portfolio and direct investment flows. Analysts at AKD Securities suggest the market may remain resilient, especially if the IMF’s second review is successfully concluded and the country’s credit ratings improve.

The attractiveness of local equities is further bolstered by their current valuation, with the KSE-100 trading at a multiple of 7.4x and offering a dividend yield of 6.6pc. However, the market’s recovery will largely depend on the global economic environment and local corporate earnings.

Published in Dawn, October 26th, 2025

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