MG Morning Breeze: Updates to Skim before Market

May 13, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Pakistan fiscal deficit shrinks to 0.7% of GDP

Pakistan’s fiscal deficit narrowed sharply during the first nine months of FY26, with the budget deficit clocking in at Rs856bn, equivalent to 0.7% of GDP, compared to 2.6% of GDP (Rs3tr) recorded in the same period last year, showing significant fiscal consolidation. Read more

• KE seeks RS44bn end-of-term adjustment

The National Electric Power Regulatory Authority (NEPRA) has concluded a public hearing on K-Electric’s petition seeking End-of-Term (EoT) adjustments under its approved Multi-Year Tariff (MYT) framework for the FY2017–FY2023 control period. Read more

• Pak-Iran health ties get new push

Pakistan and Iran have agreed to form a high-level joint committee of health experts from both countries to identify collaborative projects and explore new areas of cooperation in the health sector, with a focus on pharmaceuticals, vaccine manufacturing and other medical fields. Read more

• Supreme Court upholds prior property rights

The Supreme Court of Pakistan has ruled that a subsequent purchaser of property cannot claim legal protection unless they are able to prove good faith, proper due diligence, and lack of knowledge regarding any prior agreement related to the property. Read more

• PKR extends winning streak against USD

The Pakistani rupee continued its upward momentum against the US dollar on Tuesday, marking another session of gains in the interbank market as the local currency settled at PKR 278.66 per USD, a gain of 1.15 paisa over the previous close of 278.67. Read more

• Finance Minister backs textile industry's push for growth oriented Budget

Pakistan's textile and apparel industry has presented a comprehensive set of proposals for the Federal Budget 2026–27, calling for sweeping reforms in taxation, energy pricing, export facilitation, liquidity management and industrial modernization to strengthen the sector's global competitiveness and long-term growth. Read more

• PSX Closing Bell: The Sound of Silence

The benchmark KSE-100 Index extended its losses on Tuesday, closing at 168,916.22, down by 1,590.09 points or 0.93%, as investor sentiment weakened amid escalating geopolitical uncertainty and rising global oil prices. Read more

• Car sales rise 2x in April 2026

The sales of cars, including LCVs, vans, and jeeps, in Pakistan increased by 106.9% in April 2026, clocking in at 22,015 units compared to 10,640 units recorded in the same month of last year, the latest data from the Pakistan Automotive Manufacturers Association (PAMA) showed today. Read more

• B.R.R. Guardian Limited receives High Court sanction for merger with BRR Financial Services

B.R.R. Guardian Limited (PSX:BRRG) has secured approval from the High Court of Sindh, Karachi, for its Scheme of Arrangement with BRR Financial Services (Private) Limited, marking a significant corporate restructuring milestone for the company. Read more

• Pakistan's economy shows strong gains in 1HFY26, but war risks loom large

Pakistan's macroeconomic conditions improved significantly in the first half of fiscal year 2026, with inflation easing to a 5.2% average, external buffers strengthening on the back of SBP's foreign exchange purchases and net financial inflows, and real GDP growth running at twice the pace of the same period last year, the State Bank of Pakistan said in its Half Year Report. Read more

• PMEX acquires majority stake in Naymat

Pakistan Mercantile Exchange Limited (PMEX) has acquired a majority shareholding in Naymat Collateral Management Company Limited (NCMCL) as part of its strategy to strengthen Pakistan’s commodity market infrastructure and support the development of regulated agricultural trading systems. Read more

• Gold price in Pakistan rises Rs4,100 per tola

Gold price in Pakistan increased on Tuesday, with 24-karat gold being sold at Rs492,462 per tola, up Rs4,100. Read more

• Big Bird Foods deepens retail push with Imtiaz placement

Big Bird Foods Limited (PSX:BBFL) has secured placement of its value-added product range across 27 outlets of Imtiaz Super Market nationwide, expanding its retail footprint in the modern trade channel. Read more

• FFC raises Sona DAP price by Rs400

Fauji Fertilizer Company Limited has increased the price of its flagship fertilizer product Sona DAP, showing continued pressure in global fertilizer markets. Read more

• Blessed Textiles spends Rs200m on Jacquard Machines

Blessed Textiles Limited's (PSX:BTL) board has approved a Rs200 million investment in 12 Jacquard Machines for its Weaving Unit-II as part of a balancing, modernization and replacement (BMR) process, with long-term bank financing to be arranged for the purchase. Read more

• FBR tightens rules for foreign NGO registration

The Federal Board of Revenue (FBR) has proposed tighter conditions for the e-enrolment of foreign non-governmental organizations (NGOs) in Pakistan’s tax system, aiming to strengthen oversight, verification, and transparency standards. Read more

• CPEC phase-II: Pakistan, China set new investor coordination mechanism

Pakistan and China have agreed on a structured coordination mechanism under CPEC Phase-II to improve investment facilitation. Read more

• Pakistan, Turkmenistan agree to boost trade, energy connectivity

Pakistan and Turkmenistan have agreed to strengthen bilateral trade, expand regional connectivity, enhance energy cooperation, and deepen institutional engagement between the two countries. Read more

• IPO roadmap set for Service Long March Tyres

The Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange Limited (PSX) have approved the issuance, circulation, and publication of the prospectus for the initial public offering (IPO) of 389,738,038 ordinary shares of Service Long March Tyres Limited. Read more

• Millat Tractors MOU marks entry into E-Bike sector

Millat Tractors Limited's (PSX:MTL) subsidiary has signed a memorandum of understanding with a leading Chinese electric bike manufacturer to assemble, manufacture, and market E-Bikes in Pakistan. Read more

• LSE SPAC-I picks up 19% stake in solar firm

LSE SPAC-I Limited (PSX:SPAC1) has paid Rs230 million to acquire a 19.04% equity stake in Ningbo Green Light Energy Limited, a solar energy solutions provider and EPC company in Pakistan. Read more

• Oil prices surge on Trump Iran ceasefire warning

Global crude oil prices climbed on Tuesday after U.S. President Donald Trump signaled that the fragile ceasefire with Iran was deteriorating, warning that the truce was effectively “on life support” following Tehran’s rejection of Washington’s peace proposal. Read more

• Govt borrows Rs231bn debt in a week

The government of Pakistan has acquired an additional debt of Rs231.03 billion during the week ended May 01, 2026, which brings its total net borrowing for ongoing fiscal year 2026 to Rs884.5bn, according to the central bank's weekly estimates. Read more

• M2 rises by Rs821bn in a week

Broad money (M2), the most widely used measure of money supply in Pakistan, rose by Rs820.67 billion WoW to Rs43.46 trillion as of May 01, 2026, data released by State Bank of Pakistan (SBP) showed. Read more

• NBP issues foreign exchange rates

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

• Pakistan, China sign 300+ MOUs worth $13bn

Pakistan and China have signed more than 300 Memorandums of Understanding (MOUs) and over three dozen joint venture agreements worth more than $13 billion during the last two years, Pakistan’s Ambassador to China Khalil Hashmi said on Monday. Read more

• Searle to transfer biologic portfolio to Nextar

The Searle Company Limited's (PSX: SEARL) board has approved the transfer of its biological and associated products portfolio to its indirect subsidiary, Nextar Pharma (Private) Limited, in a transaction valued at up to Rs4 billion, subject to shareholder approval. Read more

• TRG loses Supreme Court appeal

The Supreme Court of Pakistan has dismissed appeals filed by the TRG Pakistan Limited, The Resource Group International Limited, and Greentree Holdings Limited against a 2025 ruling of the Sindh High Court that cancelled Greentree’s 30% shareholding in TRG Pakistan. Read more

• Asia markets mixed amid Iran ceasefire doubts

Asian markets ended mixed on Tuesday as investors largely brushed aside renewed uncertainty surrounding the fragile U.S.-Iran ceasefire after U.S. President Donald Trump warned the truce was on “massive life support.” Read more

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