MG Morning Breeze: Updates to Skim before Market

July 02, 2026 (MLN): Morning Breeze aims to lessen the load for its readers by curating noteworthy updates from the preceding day.

• PSX in FY26: Rides Out the Storm

FY26 will be remembered as another landmark year for Pakistan's equity market. Riding on improving macroeconomic fundamentals and renewed investor confidence, the KSE-100 Index surged by 54,674 points, or 43.52%, to settle at a record 180,301.70 points. Read more

• World Bank urges fiscal reforms in Pakistan

Pakistan needs to overhaul its fiscal federalism framework by improving coordination between the federal, provincial and local governments to safeguard macroeconomic stability, strengthen public service delivery and meet the needs of its expanding population, according to the World Bank's latest report, Strengthening Fiscal Federalism in Pakistan. Read more

• CARE Pakistan calls for climate, women partnerships

Pakistan needs stronger partnerships between the public and private sectors to effectively address climate change and advance women's economic empowerment, speakers emphasized during CARE Pakistan's flagship "Partners for Impact: Building Pakistan's Future Together" event in Islamabad. Read more

• Govt to invest above Rs8bn in footwear sector upgrade

The government is set to invest Rs8.4 billion over five years to overhaul Pakistan's footwear industry through the upgradation of the Pakistan Institute of Fashion and Design (PIFD) and allied training institutions, which currently lack the equipment, curricula and international linkages needed to meet global standards. Read more

• Meezan Bank crosses Rs1tr in market cap

Meezan Bank Limited (PSX:MEBL) has crossed Rs1 trillion in market capitalization, marking another historic milestone for Pakistan's third largest listed company and reinforcing its position as a leading force in the country's Islamic banking sector. Read more

• Kia global sales climb in June

South Korean automaker Kia recorded a 9.5% year-on-year increase in global vehicle sales during June 2026, supported by sustained demand for its sport utility vehicle (SUV) lineup. Read more

• K-Electric gets Dec-end timeline for pending AGMs

K-Electric Limited (PSX: KEL) has received advice from the relevant authority that it may hold its Annual General Meetings (AGMs) for the years ended June 30, 2024, June 30, 2025, and June 30, 2026, latest by December 31, 2026. Read more

• Select Technologies IPO opens for public subscription

The general public subscription for the Initial Public Offering (IPO) of Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, will remain open from July 2 to July 3, 2026, following the successful completion of the book-building phase. Read more

• PSX Closing Bell: Bulls Ring the Bell

The Pakistan Stock Exchange (PSX) extended its bullish momentum on Wednesday, with the benchmark KSE-100 Index soaring nearly 3,750 points as aggressive institutional buying in heavyweight banking stocks, strong investor confidence and continued optimism over the country's macroeconomic outlook powered the market to fresh record highs. Read more

• SPCL takeover filing gets SECP-driven correction

Saudi Pak Consultancy Company Limited has issued a corrigendum to the Public Announcement of Intention following observations communicated by the Securities and Exchange Commission of Pakistan. Read more

• Lucky Cement boosts Karachi plant capacity by 300,000 tons

Lucky Cement Limited (PSX:LUCK) has successfully completed and commissioned a Process Optimization and Capacity Enhancement Project at its Karachi Plant, taking the plant's annual cement production capacity up by approximately 300,000 tons to 5,350,000 tons per annum from 5,050,000 tons per annum. Read more

• Panther Tyres redeems Rs2bn Sukuk

Panther Tyres Limited (PSX: PTL) has successfully redeemed its privately placed short-term Sukuk certificates worth Rs2 billion, along with the payment of all accrued profit and principal obligations upon maturity on June 30, 2026. Read more

• PSX in June

The KSE-100 Index staged a powerful rally in June 2026, surging 6,338.88 points, equivalent to a gain of 3.64%, to close the month at 180,301.70 points. This marked a significant recovery from the May 2026 closing level of 173,962.82 points. Read more

• AGP shareholders approve restructuring plan

Shareholders of AGP Limited have approved a scheme of arrangement for the corporate reorganization and restructuring of the company and its associated entities at the company's 7th Extraordinary General Meeting (EOGM). Read more

• OICCI members' CSR spending rises to Rs15bn

The Overseas Investors Chamber of Commerce and Industry (OICCI) has released its Corporate Social Responsibility (CSR) Report 2025, highlighting that its member companies collectively invested Rs15bn in social welfare initiatives during fiscal year 2025, marked a 10% increase compared to the previous year. Read more

• Gold price in Pakistan falls Rs5,200 per tola

Gold price in Pakistan decreased on Wednesday, with 24-karat gold being sold at Rs419,636 per tola, down Rs5,200. Read more

• June inflation rises 11.1% YoY

Pakistan's headline Consumer Price Index (CPI) inflation came in at 11.1% year-on-year (YoY) in June 2026, down from 11.7% in May 2026 but still sharply higher than the 3.2% recorded in June 2025, data released by the Pakistan Bureau of Statistics (PBS) showed. Read more

• BOP achieves highest AAA credit rating

The Bank of Punjab's (BOP) long-term entity rating has been upgraded to AAA from AA+ by the Pakistan Credit Rating Agency (PACRA), with the short-term rating maintained at A1+ and a Stable Outlook, making it the first and only provincial bank in Pakistan to achieve the country's highest credit rating. Read more

• SECP unveils framework for ESG mutual funds

SECP issues Pakistan's first ESG mutual funds framework, which marks a significant step in the country's push toward sustainable investment. Read more

• HBL PMI eases to 50.8 in June

HBL Manufacturing PMI eased slightly to 50.8 in June 2026 from 50.9 in May, marking a second consecutive month of modest expansion in the sector. Read more

• Gold stays on the back foot ahead of U.S. jobs data

Gold prices continued to slide on Wednesday, extending losses after touching a seven-month low in the previous session, as rising U.S. Treasury yields and a stronger dollar reduced the appeal of the non-yielding metal. Read more

• PPL gets nod for Adhi Field development, production lease

Pakistan Petroleum Limited (PSX:PPL) has received regulatory approval for the grant of a Development and Production Lease over Adhi Field, covering an area of 212.86 sq. kms located in the districts of Rawalpindi and Chakwal, Punjab Province. Read more

• Pakistan taps spot market for LNG

Pakistan turned to the costlier LNG spot market this week, purchasing a single cargo as renewed tensions in the Strait of Hormuz raised concerns over the country's energy supply security, an official tender document showed. Read more

• Pakistan, KOEN review hydropower project progress

Pakistan and Korea South-East Power Company (KOEN) discussed the company's proposed investment in the country's hydropower sector, along with matters relating to its two projects in Swat, Read more

• PKR FY26 Review: A Year of Unbroken Strength

The Pakistani rupee wrapped up fiscal year 2026 as one of the best-performing and most stable currencies in the region, extending its longest winning streak on record against the US Dollar. Read more

• Govt stresses need for water reservoirs to meet future needs

The Government has stressed the urgent need to construct water reservoirs to address Pakistan's future water and energy challenges, warning that dams were essential to meet the growing needs of the agriculture sector, which supports nearly half of the country's population. Read more

• COMMENTARY ON FINANCE ACT 2026-27

The Finance Bill, 2026 was presented in the National Assembly on 12 June 2026 as part of the Federal Budget 2026–27. Following deliberation and approval by Parliament, the President of Pakistan, under Article 75 of the Constitution of the Islamic Republic of Pakistan, assented to the Bill, which has now become the Finance Act, 2026 and is effective from 1 July 2026. Read more

• STL secures Rs1bn hardware, services contract

Supernet Technologies Limited (PSX:STL) has been awarded a contract valued at approximately Rs1 billion for the provision of hardware and services to a leading organization in Pakistan. Read more

• PHDL Liquidators file fresh plea for winding-up continuation

Pakistan Hotels Developers Limited's (PSX:PHDL) Liquidators have filed an application before the High Court of Sindh at Karachi, seeking continuation of the Company's voluntary winding-up proceedings under the supervision of the Court. Read more

• SLGTrax's LogiServe signs lending deal with Mobilink Microfinance Bank

Secure Logistics Trax Group Limited's (PSX:SLGL) wholly owned subsidiary LogiServe (Private) Limited has executed a Lending Facility Agreement with Mobilink Microfinance Bank Limited ("MMBL") to establish a digital lending mechanism for merchants operating within SLGTrax's e-commerce and logistics ecosystem. Read more

• PTC gets IHC approval to merge Telenor Pakistan into PTML

Pakistan Telecommunication Company Limited (PSX:PTC) has received approval from the Islamabad High Court for the amalgamation of Telenor Pakistan (Private) Limited into Pak Telecom Mobile Limited (PTML), both wholly owned subsidiaries of the state-run telecom operator. Read more

• Oil holds above $73 on Iran-US talks setback

Oil prices climbed on Wednesday as fears grew that a breakdown in talks between Iran and the United States over a final agreement to end their war could prolong supply disruptions from the key Middle East producing region. Read more

• FBR collects over Rs13tr in FY26, meets revised target

Pakistan’s Federal Board of Revenue (FBR) collected Rs13.601tr in gross tax revenue during fiscal year 2025-26, exceeding its revised annual target of Rs12.983tr and achieving 100.2% of the goal, according to the tax authority's collection dashboard. Read more

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