MG Morning Breeze: Updates to Skim before Market

July 17, 2025 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SBP raises Rs342bn in PIB Auction

The State Bank of Pakistan (SBP) has secured Rs342.32 billion in today's auction of Pakistan Investment Bonds (PIBs). Read more

• TRG case files stolen en route to Islamabad

The Supreme Court’s Karachi Registry has issued an office memo stating that case files related to The Resource Group International Limited vs. Muhammad Ziaullah Khan Chishti and others were stolen while being transferred to the Principal Seat in Islamabad. Read more

• PM pushes for digital, International-Standard education

The need for international-standard education in advanced disciplines has prompted Prime Minister Shehbaz Sharif to direct substantial investment in digital infrastructure and modern classrooms for Daanish Schools and the upcoming Daanish University. 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 Rs356,000 per tola, down Rs3,000. Read more

• PSX Closing Bell: On the Rise

The benchmark KSE-100 Index concluded Wednesday's trading session at 136,379.96, showing an increase of 440.09 points or 0.32%. Read more

• MTL expected to climb to Rs650/share by Dec 2025

Millat Tractors Ltd (PSX: MTL) is well-positioned to offer an upside potential of 14%, with a target price of Rs650/share by December 2025, driven by a pick-up in demand and earnings. Read more

• PKR falls 29 paisa against USD

The Pakistani rupee (PKR) deteriorated by 29.38 paisa or 0.10% against the US dollar in Wednesday's interbank session to settle the trade at PKR 284.96 per USD, compared to previous closing of 284.67. Read more

• Govt to shut down Utility Stores by July 31

The government has reaffirmed that all operations of the Utility Stores Corporation (USC) will be closed by 31st July 2025. Read more

• Oil prices steady amid mixed global signals

Oil prices steadied on Wednesday, as signs of stronger Chinese crude consumption were outweighed by investor caution about the wider economic impact from U.S. tariffs. Read more

• Trump declares breakthrough on crypto laws

U.S. President Donald Trump declared a major breakthrough in advancing key cryptocurrency legislation, revealing that a group of House Republicans who had initially opposed the bills had reversed their stance following a White House meeting. Read more

• Gwadar set to emerge as strategic maritime and logistics hub

Development of Gwadar into a modern, integrated maritime and logistics hub remains a key priority to support Pakistan’s economic ambitions and uplift the socio-economic landscape of the region. Read more

• JSCL gets SECP Nod for subsidiary merger

Jahangir Siddiqui & Co. Ltd. (PSX: JSCL) has disclosed that the Securities and Exchange Commission of Pakistan (SECP), through its letter dated July 15, 2025, has approved the merger of its wholly owned subsidiaries. Read more

• Cement sector profit may rise 19% in 4QFY25

Cement sector is expected to report a profit after tax (PAT) of approximately Rs15.8 billion for 4QFY25, reflecting a 19% year-on-year (YoY) increase, largely driven by higher retention prices, according to Insight Securities. Read more

• Fertilizer offtake jumps 11% YoY in June 2025

The country’s overall nutrient offtake in June 2025 rose sharply to 407 thousand tonnes, showing a 11% increase compared to June 2024, according to the latest monthly fertilizer report issued by the National Fertilizer Development Centre (NFDC). Read more

• Pakistan removed from the UK’s Air Safety List

In a major development for Pakistan’s aviation sector, the UK’s Air Safety Committee has officially lifted restrictions on Pakistani carriers, allowing all Pakistani airlines to apply for operating permits in the UK. Read more

• Saudi Riyal available at PKR 77.2 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] showed minor movements in today’s session, maintaining a largely stable trend. Read more

• Bawany Air Products begins operations, receives auditor Nod

Bawany Air Products Limited (PSX: BAPL) has received an auditor certificate confirming that the company has commenced operations in accordance with its principal line of business. Read more

• Pakistan, China pledge to deepen partnership at SCO Forum

Pakistan and China reaffirmed their strong bilateral partnership during a meeting between Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar and Chinese Foreign Minister Wang Yi on the sidelines of the SCO Council of Foreign Ministers meeting in Tianjin. Read more

• Decline in rubber prices set to boost margins of PSX's Tyre makers

International rubber prices have plunged by 22% from their recent peak of US$2.21/kg in September 2024 to an average of $1.66/kg in July 2025, positioning Pakistan’s listed auto parts sector, particularly tyre manufacturers, to outperform in the near term. Read more

• Govt engages traders over new tax law concerns

To address concerns over Section 37A of the Finance Act 2025 and related tax matters, Pakistan’s Finance Minister and Revenue Senator Muhammad Aurangzeb held a high-level meeting in Islamabad Read more

• Sugar to cost Rs165/kg as PSMA commits to govt price

The Pakistan Sugar Mills Association (PSMA) has agreed to supply sugar at the government-notified ex-mill price of Rs165 per kg, paving the way for reduced rates in the retail market over the next two to three days. Read more

• FBR moves to combat cigarette smuggling

To conduct raids on cigarette retail outlets, warehouses, and motor vehicles on the roads to seize illicit or smuggled cigarettes, the Federal Board of Revenue (FBR) has authorized provincial officials Read more

• KAPCO shareholders approve Rs800m Gas Turbine sale

Kot Addu Power Company Limited (KAPCO) has secured shareholder approval to dispose of a portion of its plant and machinery, comprising Lot-1 gas turbines (GT-3 and GT-4) along with associated parts and components. Read more

• Japan grants $2.63m for Pakistan’s 2025 JDS scholarships

The government of Pakistan has signed a grant agreement with the government of Japan amounting to ¥379 million (approximately $2.63 million) to support the 2025 phase of the Human Resource Development Scholarship (JDS) programme. 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 mixed amid U.S.-Indonesia trade deal

Asia-Pacific markets were mixed on Wednesday amid shifting global trade and economic signals, including a newly revealed trade deal between the United States and Indonesia. Read more

• PTCL hit by Supreme Court ruling on pension liabilities

The Supreme Court of Pakistan has dismissed Pakistan Telecommunication Company Limited (PTCL)'s review petition regarding pensionary benefits. Read more

• Govt hikes petrol price by Rs5.36, diesel by Rs11.37 per litre

The federal government has raised the price of petrol by Rs5.36 per litre to Rs272.15 for the next fortnight, effective July 16, 2025, according to a Monday notification issued by the Finance Division. Read more

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