MG Morning Breeze: Updates to Skim before Market

May 21, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Lucky Motors unveils GAC electric vehicle lineup

Lucky Motor Corporation has officially introduced Chinese electric vehicle giant GAC Group in Pakistan, marking a major development in the country’s rapidly evolving EV landscape. Read more

• SBP buys back Rs279bn in MTBs

The State Bank of Pakistan (SBP) conducted a buyback auction for Government of Pakistan Market Treasury Bills (MTBs), with a settlement date of May 21, 2026. Read more

• PSX declares May 26–28 Eid holidays

Pakistan Stock Exchange has declared that the exchange will remain closed from Tuesday, May 26, 2026, to Thursday, May 28, 2026, on account of Eid-ul-Azha. Read more

• SBP raises Rs702bn in MTBs, Floating Rate PIB auction

The State Bank of Pakistan (SBP) conducted two government securities auctions on May 20, 2026, with a settlement date of May 21, 2026, a Market Treasury Bills (MTBs) auction and a 10-Year Floating Rate Pakistan Investment Bond (PFL) Semi-Annual auction. Read more

• LMC, GAC Group set to shake up Pakistan's EV market

GAC Group, a Fortune 500 Chinese automaker and the top-ranked manufacturer in China's JD Power Quality Survey, is set to make its official entry into Pakistan's electric vehicle market through an exclusive partnership with Lucky Motor Corporation (LMC). Read more

• Pakistan, IMF Budget negotiations run over deadline, key fiscal targets in sight

Pakistan's public sector development spending for the next fiscal year is projected to be set at around Rs968 billion as the government and the International Monetary Fund extended budget negotiations by two days to finalize the federal budget, which is expected to be on June 5. Read more

• PC Board reviews progress on first closing of PIACL privatization

Pakistan's Privatisation Commission Board has approved key measures to facilitate the materialization for the first closing of the privatisation transaction of Pakistan International Airlines Corporation Limited (PIACL). Read more

• Senate reaffirms strong support for CPEC partnership

The Senate on Wednesday unanimously passed a resolution reaffirming strong support for the China-Pakistan Economic Corridor (CPEC), emphasizing it as a key pillar of long-standing cooperation between Pakistan and China. Read more

• PTCL & Ufone secure PCI DSS v4.0.1 certification

Pakistan’s leading telecom and digital services providers, Pakistan Telecommunication Company Limited and Ufone, have successfully obtained the PCI DSS v4.0.1 certification for 2026, reinforcing their commitment to secure payment card data handling and adherence to global cybersecurity standards. Read more

• Pakistan's power generation slumps 10% in April

Pakistan's power generation took a sharp hit in April 2026, falling 9.6% year-on-year to 9,499 GWh from 10,513 GWh in the same month last year, as supply disruptions, austerity-driven demand suppression, and the rapid rise of distributed solar generation weighed heavily on the national grid. Read more

• PACRA maintains GCIL at ‘A/A1’, turns outlook positive

Ghani Chemical Industries Limited (GCIL) has reaffirmed its credit profile with a “Maintain” rating action from PACRA, while its long-term rating remains at ‘A’ and short-term rating at ‘A1’. Read more

• PSX Closing Bell: The Green Machine Rolls On

The benchmark KSE-100 Index extended its recovery on Wednesday, closing at 164,831.42, up by 1,934.74 points or 1.19%, as improving investor sentiment and easing geopolitical concerns supported broad-based buying across key sectors. Read more

• Jazz tops Pakistan’s telecom BTS race with 16,247 sites

Jazz has emerged as Pakistan’s largest telecom infrastructure operator, with 16,247 Base Transceiver Station (BTS) sites currently operational nationwide, including 16,003 4G-enabled stations, according to the latest infrastructure data available with Wealth Pakistan. Read more

• S.G. Power plans Rs535m rights issue to fund healthcare expansion

S.G. Power Limited plans to raise nearly Rs535 million through a heavily discounted rights issue as the listed company pivots toward Pakistan’s healthcare and pharmaceutical sector, according to an offer document filed with the exchange. Read more

• PKR continues upward trend versus USD

The Pakistani rupee (PKR) maintained its upward trajectory against the US dollar on Wednesday, marking another session of appreciation in the interbank market amid improving currency stability. Read more

• Sitara Petroleum Service Limited set for PSX debut

Sitara Petroleum Service Limited is set to begin trading on the Main Board of the Pakistan Stock Exchange (PSX) on Thursday, May 21, 2026, with its opening price fixed at Rs18.90 per share, a figure determined through the Book Building process Read more

• Gold holds firm amid fed rate concerns

Gold prices traded in a narrow range on Wednesday as stronger U.S. economic signals and elevated Treasury yields weighed on bullion demand, while optimism surrounding a possible easing of tensions between the United States and Iran limited safe-haven buying. Read more

• Pakistan signs 21 offshore exploration deals

Pakistan has completed the contractual framework for its Offshore Bid Round 2025, with the signing of 21 Production Sharing Agreements and Exploration Licences covering blocks in the Indus and Makran offshore basins off the coasts of Sindh and Balochistan. Read more

• HNWIs emerge as largest buyers in SLM IPO

High Net Worth Individuals (HNWIs) emerged as the largest investors in Service Long March Tyres Limited (SLM) IPO, securing an allocation of 124.3 million shares, which accounted for 42.5% of the total shares allocated across all investor categories. Read more

• Gold price in Pakistan falls Rs6,800 per tola

Gold price in Pakistan decreased on Wednesday, with 24-karat gold being sold at Rs470,362 per tola, down Rs6,800. Read more

• Govt declares three-day Eid-ul-Azha holidays

The federal government has declared 26th, 27th and 28th May 2026 (Tuesday, Wednesday and Thursday) as public holidays on the occasion of Eid-ul-Azha. Read more

• Pakistan invites Kazakh investment in maritime sector

The Government of Pakistan has invited Kazakhstan to explore joint venture opportunities at its major ports, including Gwadar's free zones, positioning its maritime infrastructure as a gateway for landlocked Central Asian nations to access Gulf, African and Southeast Asian markets. Read more

• Oil edges lower on hopes of quick Iran war end

Oil prices edged lower on Wednesday as signals of Iran war to end quickly kept markets on edge over the trajectory of the U.S.-Iran conflict and its impact on Middle East energy supplies. Read more

• Pakistan, China push closer disaster warning coordination

Pakistan and China moved to deepen technical coordination on disaster risk reduction and early warning systems during the 2nd Pak-China Symposium on Early Warning for Hydrological and Geological Disasters in Islamabad. Read more

• AIIB backs Pakistan's N-5 reconstruction with $320m loan

The Asian Infrastructure Investment Bank (AIIB) and Pakistan’s Economic Affairs Division (EAD) have signed a $320.16 million loan agreement for the reconstruction of National Highway N-5, one of the country's most critical road arteries spanning Sindh, Punjab, and Khyber Pakhtunkhwa. Read more

• FBR team leaves amid Saddar traders’ fury

A five-member FBR team arrived at Saddar's Sarafa Bazar under the supervision of an Assistant Commissioner to monitor a jeweller's stock, sales, and production, carrying an official notice for the purpose. Read more

• FBR keeps tax offices open this weekend

FBR has directed all its field offices nationwide to remain open this weekend, on Saturday and Sunday, May 23–24, 2026, treating both days as regular working days for the collection of duties and taxes. Read more

• Govt floats EOIs for privatization of FESCO, GEPCO and IESCO

The Government of Pakistan, through the Privatization Commission, has formally invited Expressions of Interest (EOIs) from local and international investors for the privatization of three major electricity distribution companies Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO). 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 sink amid rising global yields

Asian markets retreated on Wednesday as investors grappled with rising global bond yields and renewed geopolitical uncertainty after U.S. President Donald Trump said he had come “an hour away” from approving a strike on Iran before deciding to delay the move for several days. Read more

• Pakistan has enough wheat, shortage reports dismissed

Pakistan has sufficient wheat reserves to meet national requirements, with ongoing procurement operations expected to further strengthen buffer stocks in the coming weeks. Read more

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