Business
Shares at PSX rebound, gain 4,600 points in intraday trade
A day after experiencing a significant downturn, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index rebounded during intraday trade on Tuesday, gaining over 4,600 points and recouping the previous day’s losses.
Bearish sentiment had taken hold of the market on Monday, with the 100-Index plummeting 4,600 points, wiping out Rs534 billion from market capitalisation, amid rising tensions with Afghanistan, political instability in Khyber Pakhtunkhwa, and violent protests in Punjab. The market had closed at 158,443 points, lower by 4,654 points, or 2.85 per cent.
Today, the KSE-100 index surged by as many as 4,907.96 points, or 3.1pc, to reach 163,351.38 points at 11:30am during intraday trade.
Then at 12:51pm, shares climbed 4,652.13, or 2.94pc, from the previous session to stand at 163,095.55.
Yousuf M. Farooq, director of research at Chase Securities, told Dawn.com that the market had rebounded today as “tensions with Afghanistan and domestic unrest following the breakup of Tehreek-e-Labbaik Pakistan (TLP) protests had eased overnight”.
“After entering a corrective phase following the trade data released on October 2, participants are now focused on next week’s current account print and progress toward a staff-level agreement with the International Monetary Fund,” he said.
Stating that 12,334 new investor accounts were opened in the month of September, Farooq suggested that retail investors take a “long-term approach, build positions gradually, and consider exchange-traded funds or mutual funds if inexperienced”.
“While valuations are reasonable, potential slippage on the current account and fiscal side could pose near-term headwinds, and a repeat of the last two years’ returns over the next two years appears unlikely,” he added.
Samiullah Tariq, head of research and development at Pak Kuwait Investment Company Ltd, said the market had “rebounded after correction”.
He also said the “easing of geopolitical conditions” had supported the market.
Intense border fighting between Pakistan and Afghanistan that started late on Saturday night and continued into Sunday morning cast a shadow over the bourse yesterday. 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.
Separately, a crackdown against protesters of the Tehreek-i-Labbaik Pakistan (TLP) in multiple cities and political uncertainty in Khyber Pakhtunkhwa had added more pressure.
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
Business
Tehran seeks to boost maritime connectivity with Pakistan
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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