MG Morning Breeze: Updates to Skim before Market

June 23, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• Pakistan hails breakthrough in US Iran talks in Switzerland

Prime Minister Shehbaz Sharif has declared the successful conclusion of the first High-Level Committee meeting held under the Islamabad Memorandum of Understanding (MoU) in Bürgenstock, Switzerland, describing the discussions as positive, constructive, and encouraging. Read more

• BISP budget soars to Rs716bn as coverage expands nationwide

The Benazir Income Support Programme has been allocated Rs716 billion for the current financial year 2025-26, with a proposed budget of Rs844bn for 2026-27, as the programme expands its reach and reforms across multiple social protection streams. Read more

• National Foods eyes 40% upside to Rs515

National Foods Limited (NATF) is projected to reach a target price of Rs515 per share from its current market price of Rs370, implying an upside of approximately 40%, by June 2027. Read more

• PKR gains marginally against USD

The Pakistani rupee posted a marginal gain against the US dollar in the interbank market on Monday, appreciating by 3.28 paisa to close at PKR 278.22 per dollar, compared to the previous session’s closing level of PKR 278.25. Read more

• China backs Pakistan's mediation efforts

China has expressed support for diplomatic mediation efforts led by Pakistan, Qatar and other stakeholders aimed at easing regional tensions, while calling for continued engagement between the United States and Iran to achieve positive outcomes through dialogue. Read more

• PSX Closing Bell: Bulls Fumble the Lead

The Pakistan Stock Exchange (PSX) closed marginally lower on Monday as profit-taking in heavyweight sectors outweighed positive sentiment stemming from renewed diplomatic progress between the United States and Iran. Read more

• Cherat Packaging expands Flexible Packaging Capacity

Cherat Packaging Limited (PSX: CPPL) has successfully installed and commissioned its second Extrusion Plant a Barrier Film Extrusion Line along with related auxiliary equipment for its Flexible Packaging Division. Read more

• Court suspends Quice EOGM oversight order

An appellate court in Karachi has suspended a lower court's order that had placed Quice Food Industries Limited's (PSX: QUICE) Extraordinary General Meeting (EOGM) under judicial supervision, while simultaneously restraining the company from restricting minority shareholders' participation in the meeting. Read more

• Kier Starmer steps down as British Prime Minister

British Prime Minister Keir Starmer stepped down as both Labour Party leader and head of government on Monday, drawing a curtain on a turbulent tenure that began with a landslide election victory less than two years ago. Read more

• Peugeot 2008 price slashed by up to Rs1.3m in Pakistan

The Peugeot 2008 has received a significant price reduction in Pakistan, with the SUV's variants now available at markedly lower rates amid an increasingly competitive local auto market. Read more

• SECP introduces “Khudmukhtar Khatoon” for women entrepreneurs

The Securities and Exchange Commission of Pakistan (SECP) has approved a new digital financing product titled “Khudmukhtar Khatoon” aimed at supporting women entrepreneurs. Read more

• Gold price in Pakistan rises Rs4,643 per tola

Gold price in Pakistan increased on Monday, with 24-karat gold being sold at Rs442,636 per tola, up Rs4,643. Read more

• Engro Corp maintains AA+ rating with stable outlook

PACRA has maintained Engro Corporation Limited's long-term rating at AA+ and short-term rating at A1+, with a Stable outlook, as of June 19, 2026. The rating watch remains clear. Read more

• China hits American companies with export, procurement curbs

China has moved to restrict dozens of American companies from accessing Chinese exports and government contracts, responding to Washington's decision to blacklist several Chinese tech giants. Read more

• VIS assigns long-term rating of 'A-' to TBL

VIS Credit Rating Company Limited has assigned initial entity ratings of 'A-/A2' (Single A Minus/A Two) to Treet Battery Limited (TBL), with a Stable outlook. Read more

• Pakistan Egypt ties reviewed in Cairo talks

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar visited Cairo from 20–21 June 2026 at the invitation of Egypt’s Foreign Minister Badr Abdellaty, where he participated in the R4 Ministerial Meeting alongside the foreign ministers of Egypt, Saudi Arabia and Türkiye to exchange views on key regional and international developments. Read more

• Loads inks non-binding MOU with Xinhuida to explore copper ventures

Loads Limited (PSX: LOADS) has entered into a non-binding Memorandum of Understanding with Anhui Xinhuida New Material Technology Co., Ltd., a China-based company engaged in recycling, processing, manufacturing and trading of copper, advanced copper materials and technology-intensive industrial products. Read more

• Pakistan, Switzerland scale up bilateral cooperation

Pakistan and Switzerland discussed expanding bilateral investment ties and explored new avenues for economic cooperation, with the two sides expressing keenness to deepen engagement in pharmaceuticals, tourism, information technology, cybersecurity, and climate change and disaster risk reduction. Read more

• National Assembly clears Rs4.28tr spending plan

The National Assembly on Sunday approved 12 demands for grants totaling Rs4.282 trillion for the fiscal year ending June 2027, while rejecting all 100 cut motions submitted by opposition members during the budget proceedings. Read more

• Lucky Group Chairman urges fair auto policy taxes

Muhammad Ali Tabba, CEO of Lucky Cement and Chairman of Lucky Group, has urged policymakers to adopt a pragmatic approach in Pakistan's upcoming auto policy. Read more

• Gold gains on diplomatic breakthrough hopes

Gold prices recovered on Monday after touching their lowest level in more than a week during the previous session, supported by easing geopolitical uncertainty following signs of progress in negotiations between the United States and Iran. Read more

• Oil slips following US-Iran agreement on 60-Day framework

Oil prices retreated Monday after Qatar and Pakistan, serving as mediators, confirmed that American and Iranian officials had agreed on a framework aimed at finalising a peace agreement within 60 days. 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

• Asian markets mixed; Japan scales fresh record

Asian markets traded on a mixed note on Monday, with Japanese equities leading regional gains as the benchmark Nikkei 225 surged 1.95% to a record high above the 72,000 level, while the broader Topix index advanced 1.29%. Read more

• Pakistan, Qatar set 60-day roadmap for US-Iran deal

Pakistan and Qatar have outlined significant progress in high-level negotiations between the United States and Iran, with the parties agreeing on a roadmap aimed at reaching a final agreement within 60 days following the conclusion of the Lake Lucerne Summit in Switzerland. Read more

• Select Technologies IPO book-building opens at PSX today

Book-building for the Initial Public Offering of Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, opens today at the Pakistan Stock Exchange and will continue on June 23, 2026, marking another important technology-sector listing at the local bourse. Read more

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