MG Morning Breeze: Updates to Skim before Market

May 29, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• FFC inks coal-to-urea FEED agreement under CPEC 2.0

Fauji Fertilizer Company (FFC) has signed a Front-End Engineering Design (FEED) agreement with China's Hualu Engineering and Technology Co. Ltd for the development of Pakistan's first coal-to-urea fertilizer project, which marks a step in the country's industrial and agricultural self-reliance. Read more

• UNDP sounds alarm over cracks in Pakistan's economic stabilization

Pakistan's economic recovery faces mounting pressure from resurging inflation, a deepening revenue shortfall and unresolved structural weaknesses, the United Nations Development Programme cautioned in a comprehensive fiscal review presented to the National Assembly Standing Committee on Finance and Revenue ahead of Budget 2026-27. Read more

• Banks to observe extended hours for tax collection on May 29-30

Banks across Pakistan will remain open for extended hours on Friday and Saturday, May 29 and 30, 2026, to facilitate over-the-counter payment of government duties and taxes, following a request by the Federal Board of Revenue (FBR). Read more

• Pakistani freelancers outperform global counterparts, close in on $1bn milestone

Pakistani freelancers earned over $950 million in foreign exchange during the first 10 months of the current fiscal year, outpacing their counterparts in India, China, the UAE, and several other countries despite global and domestic headwinds, positioning Pakistan close to crossing the $1 billion milestone in freelancing export receipts. Read more

• National Savings Scheme profit rates edge higher

The government of Pakistan has increase profit rates on National Savings Schemes and Sarwa Islamic Schemes, with the new rates taking effect from May 26, 2026. Read more

• BankIslami launches FOCUS

BankIslami, one of Pakistan's fastest-growing Islamic banks, has launched its fully homegrown Finance Origination and Credit Underwriting System (FOCUS), a platform designed to digitalize and accelerate the customer financing journey. Read more

• UAE, UN deepen ties on energy, water agenda

Abdulla Balalaa, Assistant Minister for Energy and Sustainability Affairs, held discussions with Amina J. Mohammed, Deputy Secretary-General of the United Nations, on enhancing collaboration between the UAE and the UN in key areas including energy, sustainability, and water security. Read more

• Pakistan pushes export drive in China

Pakistan and China moved to strengthen bilateral trade and investment ties as Federal Minister for Commerce Jam Kamal Khan held a series of high-level meetings with leading Chinese companies during Prime Minister Muhammad Shehbaz Sharif's four-day official visit to China (May 23–26), targeting key sectors including textiles, agriculture, mining, chemicals, e-commerce, and food processing. Read more

• SBP launches digital system for non-resident shareholding reporting

The State Bank of Pakistan (SBP) has introduced a Non-Resident Shareholding Registration System (NSRS), a new digital platform designed to automate and streamline the recording of non-residents shareholding in locally incorporated companies, along with the repatriation of dividends and disinvestment proceeds. Read more

• PKR maintains upward momentum vs USD

The Pakistani rupee continued its upward trajectory against the US dollar on Monday, edging higher in the interbank market as the local currency settled at PKR 278.51 per USD a gain of 1.21 paisa over the previous session's close of 278.52. Read more

• FPRM acquires 60% stake in AML/CFT Screening Solution

First Paramount Modaraba (PSX:FPRM) has acquired a 60% ownership stake in the FPM AML/CFT Screening Solution Business, operating both inside and outside Pakistan, with the business independently valued at Rs. 334 million. Read more

• Tariq Corporation plans 15.8m share rights issue at Rs20

The Board of Directors of Tariq Corporation Limited (PSX: TCORP), in its meeting held on 25 May 2026, approved and decided to increase the company’s paid-up share capital through a rights issue involving 15,793,750 ordinary shares. Read more

• PSX Closing Bell: The Street Ends Smiling

The benchmark KSE-100 Index extended its strong rally on Monday, closing at 171,725.29, up by 3,881.05 points or 2.31%, as investor sentiment improved sharply following optimism surrounding Middle East peace negotiations and a steep decline in global oil prices. Read more

• NCCPL to collect capital gain tax on June 4, 2026

The National Clearing Company of Pakistan Limited (NCCPL) has declared that the aggregate Capital Gain Tax (CGT) arising on the disposal of shares at the Pakistan Stock Exchange for the period April 1 to April 30, 2026, will be collected on Thursday, June 4, 2026, through the respective settling banks of the Clearing Members (CMs). Read more

• BATA swings into the red

Bata Pakistan Limited (PSX: BATA) reported a severe financial downturn for the first quarter ended March 31, 2026, swinging into the red with a net loss of Rs149.35m compared to a net profit of Rs247.98m in the corresponding period last year. Read more

• Pakistan SOE Chiefs earn up to Rs15m a month

A cache of leaked government records has exposed the astronomical monthly compensation packages enjoyed by the heads and chief executives of Pakistan's state-owned enterprises (SOEs), autonomous bodies, and public banking institutions. Read more

• Govt, tobacco industry discuss tax reforms

Pakistan’s ongoing fiscal reform drive and crackdown on undocumented economic activity came under discussion during talks between the government and the tobacco industry, as authorities continue efforts to strengthen revenue collection and improve tax compliance. Read more

• UK reaffirms support for Pakistan's economic reform agenda

Pakistan and the United Kingdom have reaffirmed their commitment to strengthening bilateral ties, with both sides expressing support for Pakistan's ongoing economic reform agenda and pledging enhanced cooperation across economic, development, and institutional sectors. Read more

• OGDC receives Rs7.7bn circular debt payment

Oil & Gas Development Company Limited received Rs7.725bn from Power Holding (Private) Limited (PHL) as the eleventh installment of interest payment under the government-approved circular debt settlement mechanism. Read more

• Gold price in Pakistan rises Rs4,600 per tola

Gold price in Pakistan increased on Monday, with 24-karat gold being sold at Rs477,762 per tola, up Rs4,600. Read more

• Iran tells US talks advance, no final deal yet

Iran said ongoing talks with the United States have produced preliminary understandings on several key matters, though officials cautioned that a comprehensive agreement remains distant. Read more

• The higher oil climbs, the harder Pakistan’s market falls

The Pakistan Stock Exchange's benchmark KSE-100 index has delivered one of the most spectacular emerging-market returns of the past half-decade. Since December 2020, the index has gained more than 300%, transforming it into a global outlier at a time when most frontier and emerging markets struggled for momentum. Read more

• CLOV enters LPG sector with 40% stake in Quick Gases (Private) Limited

Clover Pakistan Limited (PSX: CLOV) has declared a strategic investment in the LPG sector through the proposed acquisition of a 40% equity stake in Quick Gases (Private) Limited, a company engaged in LPG Storage, Marketing and Distribution, according to the company’s filing on PSX revealed today. Read more

• Halal power race: Who will define the $1.8tr standard?

Halal certification, once a niche religious compliance matter, has quietly evolved into one of the most strategically charged regulatory battlegrounds in global trade. Read more

• Gold rises over 1% on softer dollar, easing inflation

Gold prices climbed more than 1% on Monday as easing inflation expectations and a weaker US dollar supported demand for the safe-haven metal. Read more

• PM Shehbaz courts Chinese investment in energy, EV, pharma sectors

Prime Minister Shehbaz Sharif has arrived in Beijing following the conclusion of his official engagements in Hangzhou, where he is set to hold high-level meetings with Chinese leadership, including President Xi Jinping and Premier Li Qiang, aimed at advancing cooperation under CPEC Phase-II and strengthening Pakistan–China economic and strategic ties. Read more

• Oil retreats to $97, U.S.-Iran negotiations show signs of breakthrough

Crude oil prices tumbled sharply as President Donald Trump signaled that diplomatic efforts to reopen the Strait of Hormuz are making meaningful progress. Read more

• Avanceon approves Rs7.5bn capital increase

Avanceon Limited (PSX: AVL) approved an increase in the company’s authorized capital from Rs5 billion to Rs7.5bn at its 23rd Annual General Meeting. Read more

• PSX Opening Bell: Green Lights Flash Early

The benchmark KSE-100 Index opened the week on a strong positive note on Monday, climbing 3,611.88 points or 2.15% to reach 171,456.12 by 9:37am, as investor sentiment improved sharply following developments pointing toward a possible breakthrough in Middle East peace negotiations. Read more

• NBP issues foreign exchange rates

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

• Asia markets surge on falling oil prices

Asian equities rallied sharply on Monday, led by a historic surge in Japan’s benchmark index, after easing geopolitical concerns in the Middle East triggered a steep decline in oil prices and improved global risk appetite. Read more

• Gwadar Port handles 53,000-ton steel shipment in deep-draft milestone

Gwadar Port has marked a significant operational achievement after successfully berthing a large deep-draft vessel loaded with over 53,000 metric tons of steel billets, signaling the port's rising stature as a regional transshipment hub. Read more

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