Karachi: The KSE-100 Index experienced a significant boost, gaining 985 points to close at 143,037, with a trading volume of 985 million shares. This upward movement was primarily driven by strong performances in cement, investment companies, and technology sectors. Among the top gainers were Nestle, NML, and FHAM, while GHGL, LCI, and CNERGY saw declines.
In other developments, hundreds of workers were detained during a protest by the Pakistan Tehreek-e-Insaf (PTI), which failed to gather significant momentum. Meanwhile, electricity prices in the country are expected to decrease further, contributing to a positive outlook for consumers.
The Pakistani rupee continued its upward trend, marking the tenth consecutive session of gains. Additionally, the non-tax revenue boom has pushed the tax-to-GDP ratio to a 21-year high.
Prime Minister's direct instructions to the Federal Board of Revenue (FBR) aim to dismantle bureaucratic hurdles, potentially easing business operations. In a move to enhance economic ties, the Gwadar Port Authority (GPA) signed a Letter of Intent with a Chinese firm, indicating deepening cooperation between the two nations.
In the financial sector, the government plans to raise Rs6.175 trillion through treasury bills and bonds. Meanwhile, a revised Capital Gains Tax rate will be implemented in the fiscal year 2026, as announced by the National Clearing Company of Pakistan Limited (NCCPL).
Efforts to boost the economy include a commitment to support small farmers with easy access to loans and initiatives to combat cartel behavior in the fertilizer sector. The Economic Coordination Committee (ECC) has approved the rollout of subsidies for electric vehicles, alongside other financial grants.
In the export arena, Pakistan's chemical exports to China have tripled in the first half of 2025. Textile exports also saw a 33.7% year-on-year increase in July, reaching $1.69 billion.
Despite these positive indicators, the Pakistan Telecommunication Company Limited (PTCL) has not yet addressed the Competition Commission of Pakistan's (CCP) concerns regarding its merger with Telenor, indicating ongoing challenges in the telecommunications sector.