MG Morning Breeze: Updates to Skim before Market

May 08, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• SBP reserves rise by $23m

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $22.8 million or 0.14% WoW to $15.85 billion during the week ended on April 30, 2026, data released by State Bank of Pakistan showed on Thursday. Read more

• Pak Suzuki introduces the all-new FRONX

Pak Suzuki has officially introduced the FRONX, entering the Pakistani automotive market with what the company classifies as the country's first-ever XUV. Read more

• Chery Master Pakistan signals new product expansion

Chery Master Pakistan is evaluating to launch two to three future models for the local market, including the Tiggo 4 HEV, QQ BEV, and Tiggo V, products that reflect Chery’s broader focus on hybrid, electric and multi-purpose mobility solutions. Read more

• Govt extends CIF import facility for oil products till July 10

The State Bank of Pakistan (SBP) has extended permission for the import of crude oil and petroleum products on a Cost, Insurance, and Freight (CIF) basis until July 10, 2026, providing continued operational flexibility to the energy sector amid evolving external account pressures. Read more

• PSX Closing Bell: Rally Mode

The benchmark KSE-100 Index extended its gains on Thursday, closing at 172,894.27, up by 1,189.52 points or 0.69%, as investor sentiment remained supported by expectations surrounding Pakistan’s upcoming IMF board review and easing global oil prices. Read more

• SECP incorporates historic 4,082 firms in a single month

Pakistan’s corporate sector achieved a historic milestone in April 2026 as the Securities and Exchange Commission of Pakistan (SECP) registered a record 4,082 new companies during the month, marking the highest monthly incorporation ever recorded in the country’s history. Read more

• PKR continues upward trend against USD

The Pakistani rupee (PKR) extended its appreciation streak against the US dollar on Thursday, gaining 1.23 paisa in the interbank market to settle at PKR 278.71 per USD, compared to the previous close of 278.72. Read more

• Govt vows crackdown on illicit cigarette trade

The government has pledged a comprehensive crackdown on Pakistan's growing illicit cigarette trade, acknowledging that weak enforcement rather than lack of policy is driving an estimated annual revenue loss of Rs350 billion. Read more

• PSX to suspend KiTS services for DR mock activity

The Pakistan Stock Exchange (PSX) has issued a notice informing that the Karachi Internet Trading System (KiTS) will be completely unavailable this Saturday, May 9, 2026, from 8:00 am to 8:00 pm, due to a scheduled DR mock activity. Read more

• Japan startup to deploy Gundam-inspired Haro robot into space

A Japanese space technology startup is preparing to launch a robotic companion inspired by the iconic “Haro” character from the legendary anime series Mobile Suit Gundam to the International Space Station (ISS) by next spring. Read more

• PTL grows solar fleet with new contract

Panther Tyres Limited (PSX:PTL) has awarded a contract for the installation of a 3.5 MW solar power system to a well-established solar energy solutions provider. Read more

• Gold price in Pakistan rises Rs7,800 per tola

Gold price in Pakistan increased on Thursday, with 24-karat gold being sold at Rs496,762 per tola, up Rs7,800. Read more

• FCC strikes down Section 7E tax on property

In one of the most consequential tax rulings in Pakistan's recent judicial history, the Federal Constitutional Court (FCC) unanimously struck down Section 7E of the Income Tax Ordinance, 2001, declaring the contested property levy unconstitutional, void from its very inception, and without any legal force whatsoever. Read more

• Avanceon expands into Australia with new business entity

Avanceon Limited (PSX:AVN) has expanded its global footprint with the registration of a new business entity in Australia, operating under the name Avanceon PTY LTD. Read more

• MTL clarifies EV motorcycle speculation

Millat Tractors Limited (PSX:MTL) has moved to address growing market speculation over its potential entry into the electric motorcycle segment, confirming that a group company is currently assessing the feasibility of EV bike production in Pakistan but stressing the matter is still at an early stage. Read more

• Japan’s used car boom accelerates

Japan’s used car market climbed to a record 5.32 trillion yen ($34 billion) in 2025, which marks a 54.8% increase from five years earlier, as more consumers turned to secondhand vehicles amid soaring prices for new cars and changing attitudes toward pre-owned goods. Read more

• Pakistan brings 287 govt bodies under one Treasury Account

The Government of Pakistan has fired a significant shot in its battle against financial fragmentation, issuing a landmark notification on Wednesday that dramatically extends the reach of the Treasury Single Account (TSA). Read more

• IMF Board expected to clear $200m for Pakistan amid climate finance push

Pakistan is expected to receive $200 million from the International Monetary Fund under its Resilience and Sustainability Facility (RSF), with the IMF board set to take up the matter on Friday. Read more

• Govt to end blanket power subsidy for under-200 unit consumers

Pakistan is preparing a major overhaul of its electricity subsidy structure, with the government planning to phase out blanket relief for most residential consumers using less than 200 electricity units per month from January 1, 2027, as part of reforms linked to the International Monetary Fund (IMF) program. Read more

• Pakistan set for IMF board review on May 8

Pakistan moved a step closer to securing fresh inflows from the International Monetary Fund (IMF) after the Fund placed the country’s case on the tentative calendar of its Executive Board meeting scheduled for May 8, 2026. Read more

• VIS lifts ICL entity rating, outlook turns stable

Ittehad Chemicals Limited (PSX:ICL) has had its entity ratings upgraded by VIS Credit Rating Company Limited (VIS) from 'A-/A2' to 'A/A1', which reflects the company's strengthened financial and strategic position. Read more

• NBP issues foreign exchange rates

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

• PCAL issues Rs4bn Short-Term Sukuk

Pakistan Cables Limited (PSX:PCAL) has successfully issued rated, unsecured, and privately placed Short Term Sukuk worth Rs. 4,000,000,000 (Rupees Four Billion Only), with a tenor of six months aimed at meeting the company's working capital requirements. Read more

• Asia markets jump on record Nikkei surge

Asia markets rallied sharply on Thursday, led by a record-breaking surge in Japanese equities, as investors looked past escalating tensions in the Middle East and focused on optimism surrounding a possible diplomatic breakthrough between Washington and Tehran. Read more

• Oil holds above $101 amid Iran, U.S. uncertainty

Global oil prices remained steady on Thursday amid volatile trading, as investors weighed fresh developments in the Middle East and growing uncertainty surrounding U.S.-Iran tensions. Read more

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