Key Pakistan-Afghanistan border crossing reopens after nearly a month

KARACHI: Pakistani home appliances giant Pak Elektron Limited (PEL) plans to increase its exports to $100 million by the end of 2026, a senior official of the company said on Wednesday, days after announcing it had begun its export operations to the United States. 

The Lahore-based manufacturer of home appliances has been one of the most-traded scrips at the Pakistan Stock Exchange (PSX) so far this week. It had the second-most traded stock on Wednesday, registering a 3.2 percent gain and over 36 million volumes.

On Monday the company announced it has expanded its global footprint and will be now exporting its products to the US. PEL’s new American client is Maddox Industrial Transformer LLC, which supplies new and remanufactured power transformers to commercial and industrial clients in the US.

“We are exporting distribution transformers for now and the majority of our exports, say 90 percent, are going to the US,” Nadeem Asghar, the general manager of finance at PEL, told Arab News. 

PEL plans to increase its exports up to $50 million this year by December and double the same to $100 million by the end of 2026, Asghar said. 

The company’s current exports stand at $3 million, with most of its shipments going to the United Kingdom, Jordan and African countries. 

PEL’s stock price appears to have increased steadily in recent days. Its recent announcement of beginning export operations to the US has contributed to a notable increase in its stock price, Sana Tawfik, the head of research at the Karachi-based brokerage firm Arif Habib Ltd., said.

“The stock price has witnessed a gain of 13 percent in the last three days,” Tawfik told Arab News.

The company has already sent its first consignment of distribution transformers to the US on Mar. 13 as part of its business expansion strategy to explore new international markets.

Asghar, meanwhile, said this is the first time that PEL has received a “major order” from the US.

“The majority of our products will be exported to America now,” he said, adding that PEL would keep increasing its exports even beyond $100 million after 2026 as “sky is the limit.”

PEL entered into a strategic partnership last month with Swedish giant Electrolux AB, a global leader in multi-category home appliances brands such as Electrolux, AEG and Frigidaire, to leverage its strength to drive sustainable growth.

In 2024 Electrolux Group had sales of Swedish Krona 136 billion and the company employed 41,000 people worldwide. 

After tapping the US market, Asghar said the Pakistani company plans to expand its reach to the Middle East as well, particularly Saudi Arabia. 

“We would look to tap the Saudi Arabian market where we see enough demand for our products,” Asghar said, adding that talks with the company’s potential clients from Saudi Arabia were underway. He did not mention their names. 

“We will tap all these markets, the UK, Saudi Arabia and others. Our negotiations are ongoing with the Saudi Arabian clients,” Asghar added. 

Pakistan’s Prime Minister Shehbaz Sharif has repeatedly said his government is prioritizing exports to ensure sustainable economic growth for the country’s fragile $350 billion economy. Sharif has recently said his government aims to increase Pakistan’s exports to $60 billion in five years. 

Pakistan is trying to stabilize its economy through sustainable reforms agreed with the International Monetary Fund (IMF) in exchange for a financial bailout program. 

ISLAMABAD: A leading international rights organization urged Pakistan on Wednesday not to “coerce” Afghan refugees into returning to their country, saying many risked persecution and would face dire economic conditions.
The appeal came as the government directed all Afghans without residence documents, along with Afghan Citizen Card holders, to leave by the March 31 deadline.
The interior ministry’s announcement earlier this month formed part of a broader repatriation drive targeting foreign nationals that began in 2023, with more than 800,000 Afghans expelled from Pakistan since. The campaign against “illegal immigrants,” mostly Afghans, was launched following a surge in militant violence from armed groups the government said had found sanctuary in neighboring Afghanistan.
Officials in Islamabad have maintained that many Afghan nationals in Pakistan were involved in attacks on civilians and security forces while blaming the interim Taliban administration for “facilitating” cross-border attacks. Afghan authorities in Kabul, however, have denied the allegations.
“Pakistani officials should immediately stop coercing Afghans to return home and give those facing expulsion the opportunity to seek protection,” Elaine Pearson, Asia director at Human Rights Watch (HRW), said as the rights organization released a report on the situation of those repatriated so far.
“The Taliban authorities in Afghanistan should prevent any reprisals against returning Afghans and reverse their abusive policies against women and girls,” she added.
HRW accused Pakistani police of raiding the houses of Afghan refugees, beating and arbitrarily detaining people, and confiscating their refugee documents, including residence permits.
Based on its interviews with Afghans who recently returned to their country, it said Pakistani authorities had demanded bribes to allow them to stay in Pakistan, adding that most Afghan nationals chose to return due to fear of detention in Pakistani cities.
Officials in Islamabad have dismissed such allegations in the past, saying they have carried out the repatriation process in a humane way.
The international rights organization also warned that the situation in Afghanistan has continued to deteriorate since the Taliban takeover in August 2021, with women and girls banned from post-primary education, while rights defenders, journalists, and former government personnel remain at particular risk.
“All of those returning struggle to survive amid Afghanistan’s soaring unemployment, broken health care system, and dwindling foreign assistance,” it added.