MG Morning Breeze: Updates to Skim before Market

June 03, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• No additional sales tax for Poultry: FCC

Pakistan's Federal Constitutional Court (FCC) has handed the country's poultry sector a decisive legal victory, ruling that feed manufacturers cannot be charged a 4% further tax for supplying farmers who are exempt from sales tax registration. Read more

• Pakistan manufacturing activity turns positive: HBL PMI

The HBL Manufacturing PMI, compiled by S&P Global, edged up to 50.9 in May 2026 from 49.9 in the previous month, signaling an uptick in manufacturing activity, according to the press statement issued today. Read more

• Pakistan suffers $1.4bn trade loss on Afghan border closure

Pakistan’s trade sector has absorbed a blow of more than $1.4 billion in recent months as twin disruptions, the closure of the Afghan border and logistical turmoil across Gulf trade routes- squeezed exports and transit earnings, officials informed a parliamentary panel on Tuesday. Read more

• PSX invites public comments on LSE SPAC-II listing

The Pakistan Stock Exchange (PSX) has placed the draft prospectus of LSE SPAC-II Limited on its website to seek feedback from the general public. Read more

• Pakistan cuts mango export target by nearly 30%

Pakistan’s mango export season has begun under significant strain, with exporters reducing this year’s export target by nearly 30% due to escalating geopolitical tensions in the Middle East, soaring freight charges, climate-related challenges, and declining fruit production. Read more

• PSX Closing Bell: Bulls Keep the Trophy

The benchmark KSE-100 Index staged a modest recovery on Tuesday, closing at 171,021.77, up by 421.57 points or 0.25%, as investors returned to selective buying following the previous session's sharp decline, with banking, fertilizer, and energy stocks leading the advance. Read more

• PKR edges higher against USD

The Pakistani rupee (PKR) continued its appreciating trend against the US dollar, posting a marginal gain of 0.94 paisa in Tuesday’s interbank session to close at PKR 278.46 per USD compared with the previous close of 278.47. Read more

• Pakistan's fertilizer sector achieves 8% growth in 5MCY26

Pakistan's fertilizer sector achieved an 8% year-on-year growth in cumulative urea sales during the first five months of 2026, with overall offtakes climbing to 1,908k tons. Read more

• Pakistan budget likely on June 8 or June 12

The meeting of the National Economic Council (NEC), scheduled for tomorrow under the chairmanship of Prime Minister Shehbaz Sharif, has been postponed. Read more

• Pakistan’s pine nut exports to China double

Pakistan’s pine nut exports to China have recorded strong growth in recent years, supported by rising Chinese demand for premium and nutritious food products, according to a report by China Economic Net (CEN). Read more

• Pakistan’s business confidence drops to 13%

Business confidence in Pakistan deteriorated significantly in the second quarter of 2026, with the overall Business Confidence Index (BCI) dropping 9 percentage points to a positive 13% from 22% in the previous survey, according to the latest Wave 29 survey released by the Overseas Investors Chamber of Commerce and Industry (OICCI). Read more

• Crescent Fibres clears Spinning Unit-1 asset sale

Shareholders of Crescent Fibres Limited approved the sale and disposal of plant, machinery, equipment and related assets of its Spinning Unit-1 located in Nooriabad, Jamshoro during an extraordinary general meeting held on June 2, 2026. Read more

• Gold price in Pakistan rises Rs4,600 per tola

Gold price in Pakistan increased on Tuesday, with 24-karat gold being sold at Rs476,362 per tola, up Rs4,600. Read more

• Pak Leather Crafts rents out vacant building again from August 1

Pak Leather Crafts Limited (PSX: PAKL) has entered into a new agreement with another party for the vacant building, with rent becoming effective from August 01, 2026. Read more

• Treet Battery Limited Signs MOU with CNTE

Treet Battery Limited (PSX:TBL) has officially entered into a Memorandum of Understanding (MOU) with China-based Contemporary Nebula Technology Energy Co., Ltd. ("CNTE") to explore long-term strategic cooperation opportunities in Pakistan's energy storage sector. Read more

• SECP registers 3,161 new companies in May

The Securities and Exchange Commission of Pakistan (SECP) registered 3,161 new companies during May, taking the total number of registered companies in the country to 297,239. Read more

• Gold holds ground amid Middle East uncertainty

Gold prices traded in a narrow range on Tuesday as investors monitored evolving geopolitical developments in the Middle East and awaited a series of key U.S. economic reports that could provide fresh clues on the Federal Reserve’s policy outlook. Read more

• PM fast-tracks $7.5bn China MoUs

Pakistan-China private sector business engagements have entered a new era of economic partnership, as Prime Minister Muhammad Shehbaz Sharif noted that enhanced industrial, agricultural and technological cooperation with China would boost the country's exports and generate new employment opportunities. Read more

• NEC set to approve Rs4.46tr 'Development Plan'

Pakistan’s National Economic Council (NEC), the apex body for economic policymaking, is set to convene on June 3 to deliberate on a proposed national development program worth Rs4.464 trillion for fiscal year 2026-27, according to officials familiar with the matter. Read more

• Refinery uplift drops 7% in May

Pakistan's overall refinery upliftment declined by 7.0% YoY to 927,000 tons in May 2026, compared to 997,000 tons in the same month last year, according to data compiled by Arif Habib Limited. Read more

• OMC sales plunge 14% MoM in May 2026

Oil Marketing Companies (OMCs) posted a 23% year-on-year (YoY) decline in May 2026, with total offtake falling to 1.17 million tons (mt) from 1.53mt in May 2025. Read more

• Oil tops $94 on Trump's no urgency signal on Iran talks

Oil prices surged after US President Donald Trump said he was indifferent to whether negotiations with Iran collapse, raising fears that a deal to reopen the Strait of Hormuz, a critical artery for global crude shipments may be out of reach. Read more

• Dandot Cement seeks shareholder nod for Rs150m related-party loan

Dandot Cement Company Limited (PSX: DNCC) is seeking shareholder approval to extend a short-term unsecured loan of up to PKR150 million to an associated company. 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

• PM orders tax refund clearance by June 15

Prime Minister Shehbaz Sharif has assured the country's business community that the government will maintain its focus on policies aimed at strengthening economic growth, promoting exports, and encouraging industrial expansion, while directing the tax authorities to settle all outstanding tax refund claims by June 15. Read more

• Asia markets trade lower amid geopolitical jitters

Asian markets mostly moved lower on Tuesday as investors assessed rising geopolitical uncertainty surrounding U.S.-Iran relations, while record-setting gains on Wall Street provided some support to broader market sentiment. Read more

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