MG Morning Breeze: Updates to Skim before Market

July 10, 2025 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Auction Result: Govt raises Rs1.5tr through T-bills

Today's Treasury bill auction drew strong investor interest on Wednesday, enabling the State Bank of Pakistan (SBP) to raise Rs1.49 trillion, comfortably exceeding its Rs1.35tr target. Read more

• Pakistan kicks off Beijing Roadshow for first-ever Panda Bond

The Representatives of the Ministry of Finance, Government of Pakistan, have initiated a series of pre-marketing investor meetings in Beijing, China, from July 7 to 11, 2025, as part of a non-deal investor roadshow (NDR) in preparation for Pakistan’s debut Panda Bond issuance. Read more

• Gold price in Pakistan falls Rs3,000 per tola

Gold price in Pakistan decreased on Wednesday, with 24-karat gold being sold at Rs351,500 per tola, down Rs3,000. Read more

• UBL crowned top performing Primary Dealer in FY25

United Bank Limited (PSX: UBL) is riding high on success after being named the Top Performing Primary Dealer for the fiscal year 2024–25, a title awarded by the State Bank of Pakistan’s Domestic Market & Monetary Management Department through its latest circular. Read more

• SECP approves name change for Secure Logistics

Secure Logistics Group Limited (PSX: SLGL) has received approval from the Securities and Exchange Commission of Pakistan (SECP) to change its name. Read more

• Tribunal upholds CCP’s order against ICAP in price-fixing case

The Competition Appellate Tribunal (CAT) has dismissed the appeal filed by the Institute of Chartered Accountants of Pakistan (ICAP) against the order of the Competition Commission of Pakistan (CCP), which had imposed a penalty over alleged price-fixing practices. Read more

• Govt waives tax, slashes duties on sugar imports

The federal government has slashed sales and withholding taxes on sugar imports to ease inflationary pressure and ensure domestic supply ahead of peak consumption season. Read more

• Virtual Assets get legal backing in Pakistan

The Government of Pakistan has formally approved the “Virtual Assets Act, 2025,” following endorsements from the Federal Cabinet, the Prime Minister, and the President of Pakistan. Read more

• CCP summons sugar mills over cartelization charges

The Competition Commission of Pakistan (CCP) has summoned the Pakistan Sugar Mills Association (PSMA) and its member sugar mills for a hearing scheduled on August 4th, 5th, 6th, and 7th, 2025. Read more

• PKR decreases by 10 paisa against USD

The Pakistani rupee (PKR) depreciated by 10.34 paisa or 0.04% against the US dollar in Wednesday's interbank session to settle the trade at PKR 284.47 per USD, compared to previous closing of 284.36. Read more

• PSX Closing Bell: Welcome to the Downside

The benchmark KSE-100 Index concluded Wednesday's trading session at 132,576.98, showing a decrease of 826.21 points or 0.62%. Read more

• U.S. tariff hike raises pressure on Asian allies

U.S. President Donald Trump has targeted Japan and South Korea, two of America’s closest allies in Asia in the first round of newly issued “tariff letters,” escalating existing trade tensions. Read more

• Arif Habib consortium joins race for PIA privatisation

Arif Habib Corporation Limited (PSX: AHCL), as the Lead Member of a consortium, has submitted an Expression of Interest (EOI) and Statement of Qualification (SOQ) to the Privatisation Read more

• Image Pakistan plans acquisition of UK luxury brand

Image Pakistan Limited (PSX: IMAGE) disclosed plans to acquire M/s. Elegantes London (Holdings) Limited, a Harrods-listed ultra-luxury fragrance and wellness brand Read more

• Workers' remittances reach record high of $38.3bn in FY25

Pakistan’s workers’ remittances reached a record high of $38.3 billion in FY25, marking a 26.6% increase compared to $30.25bn received in the same period of FY24. Read more

• Lucky Cement, partners explore PIA acquisition

Lucky Cement Limited (PSX: LUCK), in collaboration with Hub Power Holdings Limited, Kohat Cement Company Limited, and Metro Ventures (Private) Limited Read more

• Fertilizer profits set to bloom 17% YoY, EFERT, FFC likely to announce Rs4 & Rs11.5 dividends

Pakistan’s fertilizer sector earnings are forecast to rise 17% YoY and 67% QoQ in 2QFY25, driven by stronger urea and DAP offtakes during the Kharif season despite subdued farm economics and water shortages, with Engro Fertilizers (EFERT) likely to announce a second interim dividend of Rs4 per share and Fauji Fertilizer (FFC) expected to declare Rs11.5 per share, Topline Securities said in a report released today. Read more

• Trump’s tariffs no longer seen as inflation threat

President Donald Trump’s earlier tariff policies, once expected to spark a sharp surge in inflation, are no longer viewed as a major threat Read more

• Wärtsilä to set up 204 MW plant for Reko Diq

Technology group Wärtsilä will supply a 204 MW power plant solution for the Reko Diq copper-gold mining project in Pakistan. Read more

• Dubai Islamic Bank partners with JazzCash to enhance digital financial solutions, remittances

Dubai Islamic Bank Pakistan Limited (DIBPL), has joined hands with JazzCash, Pakistan’s leading fintech organisation, to facilitate and grow inland home remittance transactions to Pakistan through innovative, easy and seamless digital financial solutions, said a press statement issued on Tuesday. Read more

• Oil prices slip after hitting two-week highs

Oil prices edged slightly lower on Wednesday after rising to two-week highs in the previous session, as investors were watching new developments on U.S. tariffs and trying to gauge their impact. Read more

• Saudi Riyal available at PKR 76.4 in open market

The current exchange rates for the Saudi Riyal (SAR), UAE Dirham (AED), and Qatari Riyal (QAR) against the Pakistani Rupee (PKR) as of [10 am PST] remained unchanged, reflecting a stable trend in today’s session. Read more

• Trump imposes new tariffs on 14 countries starting August 1

In a sweeping escalation of his trade war strategy, U.S. President Donald Trump unveiled steep new tariffs on imports from at least 14 countries, set to take effect on August 1. Read more

• From Simple Gains to Exponential Growth in Stock Investing

Compounding is the eighth wonder of the world. He who understands it, earns it... he who doesn’t, pays it Read more

• VIS reaffirms entity rating of Gatron (Industries) Ltd

VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Gatron (Industries) Limited (PSX: GATI) to 'A-/A2' (‘A Minus/A Two’). Read more

• PM emphasizes local resource use to boost exports

To strengthen the economy and achieve self-reliance, Prime Minister Shehbaz Sharif has emphasized the urgent need to harness Pakistan’s local resources. Read more

• PSX nudges firms to reveal gender pay gap or risk SECP action

Pakistan Stock Exchange (PSX) has reminded all listed companies to ensure mandatory disclosure of gender pay gap data in their annual reports and on corporate websites, ahead of the upcoming earnings season. Read more

• NBP issues foreign exchange rates

The treasury management division of the National Bank of Pakistan (NBP) on Wednesday issued the following exchange rates. Read more

• Asia markets react cautiously to U.S. tariff threats

Asia-Pacific markets traded mixed on Wednesday following U.S. President Donald Trump’s firm stance against extending the August 1 tariff deadline. Read more

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