Pakistan stocks post 2.5% weekly gain as IMF talks fuel investor confidence

Pakistan stocks post 2.5% weekly gain as IMF talks fuel investor confidence
In this file photo, taken on October 9, 2018, Pakistani pedestrians walk past a bronze bull statue outside the Pakistan Stock Exchange (PSE) building in Islamabad. (AFP/File)
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Updated 21 March 2025
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Pakistan stocks post 2.5% weekly gain as IMF talks fuel investor confidence

Pakistan stocks post 2.5% weekly gain as IMF talks fuel investor confidence
  • The bullish sentiment was triggered by a recent IMF visit, raising hopes for a staff-level agreement
  • Analysts expect the market to remain positive as Pakistan seeks $1.5 billion in IMF climate financing

KARACHI: Pakistan’s stocks ended the week on Friday with a 2.5 percent weekly gain, with the benchmark KSE-100 Index hitting a record high as investors expected a positive outcome from the country’s ongoing talks with the International Monetary Fund (IMF) under the first review.
The last trading session of the week witnessed the stocks gauge rising to 119,405 points during the day before closing in the red at 118,442 points, 0.3 percent lower than the last close due to profit-taking.
An IMF staff mission left Pakistan last week after concluding a visit that lasted for over half a month, with its chief, Nathan Porter, issuing a statement saying the two sides “made significant progress toward reaching a Staff Level Agreement,” triggering a bull run at the Pakistan Stock Exchange.
“The week commenced with the completion of the IMF mission’s visit to Pakistan for the first review of the ongoing $7 billion Extended Fund Facility, though a staff-level agreement remains awaited,” he said.
Pakistan, he continued, was also in the process of securing an arrangement under the Resilience and Sustainability Facility (RSF) with the IMF for additional financing to address the impacts of climate change.
Pakistan is one of the world’s most affected nations by climate change and has witnessed extreme weather events like floods, droughts and heatwaves. The country is seeking about $1.5 billion in climate financing from the global lender, which is currently evaluating the country’s request.
The Karachi-based brokerage research firm Arif Habib Ltd. said the market remained “jubilant” during the week as investor sentiment was supported by expectations of a staff-level agreement between Pakistan and the IMF that will lead to the disbursement of $1.1 billion to Pakistan.
The IMF, it said, shared a draft of the Memorandum of Economic and Financial Policies with the authorities in Pakistan, which signaled progress.
“Furthermore, potential resolution of power circular debt charged up the overall sentiment,” it said.
The IMF has also allowed the government to recalibrate its Rs12.97 trillion tax collection target for the current fiscal year to Rs12.35 trillion.
“We expect the market to remain positive in the upcoming week,” said the research firm. “The equity investors will closely follow developments leading up to Pakistan’s pact with the IMF that is projected to keep the momentum at the bourse buoyant.”


Pakistan’s tailors measure up against Eid craze for pret 

Pakistan’s tailors measure up against Eid craze for pret 
Updated 16 sec ago
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Pakistan’s tailors measure up against Eid craze for pret 

Pakistan’s tailors measure up against Eid craze for pret 
  • Customer preferences are shifting toward ready-to-wear fashion, impacting tailoring businesses
  • Women say they opt for pret for its convenience, affordability and accessibility over custom tailoring 

ISLAMABAD: With a measuring tape draped around his neck, Muhammad Shafiq cut through a piece of fabric, expertly following along yellow chalk markings he had made according to the exact size of a client. 

Each year, the demand for custom-made clothing skyrockets ahead of the Muslim festivals of Eid Al-Fitr and Eid Al-Adha, with tailoring shops in Islamabad and other cities of Pakistan bustling with women eager to get their dresses made in time. The exercise requires long shopping trips to malls and bazaars to buy cloth in various fabrics and prints, or ordering them online, and then giving them to tailors to fashion into outfits as per customized measurements and styles.

But in the past few years, many tailoring businesses have had to contend with a growing preference for ready-to-wear fashion, chosen for its convenience, affordability, and accessibility, allowing women and men alike to easily find stylish and fashionable garments without the need for custom tailoring or extensive shopping trips.

“It’s not that there is no work at all but earlier we would have advanced bookings almost a month before Eid,” Shafiq, 53, who has been a tailor for four decades, told Arab News at his cramped shop in the Pakistani capital earlier this month.

A worker at Muhammad Shafique's tailoring shop stitches clothes in Islamabad, Pakistan, on March 2025, 2025. (AN Photo)

“But now it’s down to around 10 days [of advanced bookings]. Many people don’t have the time to get clothes stitched and opt for boutique-made, ready-to-wear outfits.”

“CONVENIENCE”

Ready-to-wear clothing is widely available at Pakistani stores, department stores, and online platforms, making it easier to find and purchase. Pret collections also often reflect current fashion trends, allowing consumers to stay up to date with the latest styles. And instead of scheduling fittings and waiting for custom-made garments, consumers can simply try on and purchase ready-to-wear pieces on the go.

Arslan Haider, a designer and store manager, said boutiques and designer brands were certainly reshaping fashion preferences on holidays like Eid.

“During events like Eid, the market sees a surge in business and new fashion trends emerge in stores, which helps businesses flourish,” Haider told Arab News. 

A customer sifts through stitched clothes on display at a retail clothing shop in Islamabad on March 25.2025. (AN Photo)

But tailoring still worked as a cheaper option in some cases, he said, and the older generation, more concerned with perfect fittings, preferred bespoke clothing while younger people were more inclined toward pret.

“Stitched clothes come with stylish designs and they eliminate the need for multiple visits to tailors to provide measurements and other accessories,” Haider said, adding that the convenience was a serious consideration for many customers.

“Unstitched clothes require at least seven to eight days with a tailor, and there’s always a risk of error. With stitched clothing, customers get a standardized product, whether they buy online or from a store,” he said.

Farida Qureshi, a UK-based customer visiting Pakistan for Eid, said she preferred ready-to-wear fashion as it saved time and effort. Getting an outfit stitched, on the other hand, did not just require buying the cloth and paying a visit to the tailor, but also purchasing matching accessories such as laces, beads and buttons, which was a time-consuming task. 

“Finding everything in one place, ready-made is far easier than visiting different shops and then waiting for a tailor,” Qureshi said. 

But there are still those who want the personalized touch of a tailor on their Eid dresses. 

“I do buy ready-made clothes, but I often face size issues,” Qureshi said. “With my tailor, I get exactly what I want.”

Which is why business still thrives for many tailors like Shafiq, who work up to 16 hours daily during Ramadan to complete Eid orders. 

“Some people want a perfect fit, something that ready-made clothes can’t always provide,” he said. 

“I have customers who have been coming to me for years because they know I already have their measurements and can tailor their Eid clothes exactly to their liking.”
 


Pakistan’s Punjab to deploy over 47,000 police personnel for security on Eid Al-Fitr

Pakistan’s Punjab to deploy over 47,000 police personnel for security on Eid Al-Fitr
Updated 3 min 32 sec ago
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Pakistan’s Punjab to deploy over 47,000 police personnel for security on Eid Al-Fitr

Pakistan’s Punjab to deploy over 47,000 police personnel for security on Eid Al-Fitr
  • Eid-Al-Fitr is widely expected to take place in Pakistan on Monday, subject to sighting of the moon
  • Attacks during Eid are rare in Pakistan, however, country has seen surge in militant attacks recently 

ISLAMABAD: Over 47,000 police personnel will be deployed across Pakistan’s eastern Punjab province during the Eid Al-Fitr holidays to ensure security for its citizens, a statement from the provincial police said on Sunday. 

Eid Al-Fitr is widely expected to take place in Pakistan on Monday, subject to the sighting of the moon. The three-day holiday marks the end of Ramadan, Islam’s holy month of fasting.

Though attacks during Eid are rare in Pakistan, the country has seen a surge in militant attacks in its western provinces of Khyber Pakhtunkhwa and Balochistan that border Afghanistan in recent months. 

“More than 47,000 officers and personnel will be deployed for more than 29,000 Eid gatherings across the province on Eid-Al-Fitr,” Punjab Police wrote on social media platform X. 

“Mosques, imambargahs, markets and important places will be continuously monitored with CCTV cameras,” it added. 

It said over 21,000 officers and personnel, including women cops, will be deployed at markets and important places across the province on the eve of Eid. 

The statement said regional police officers (RPOs) and district police officers (DPOs) will monitor security arrangements during the three-day Muslim holiday. 

“Strict action will be taken against miscreants harassing women and families,” Punjab Police warned. “One-wheeling, aerial firing, hooliganism and kite flying are not allowed.”

Separately, Islamabad Police said it would deploy over 3,500 police personnel in the capital during Eid Al-Fitr for security arrangements. 

It said over 500 traffic officials will manage the smooth flow of traffic in the city during the holidays. 


Pakistan’s Balochistan bans night travel on key highways amid surge in militant attacks

Pakistan’s Balochistan bans night travel on key highways amid surge in militant attacks
Updated 42 min 57 sec ago
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Pakistan’s Balochistan bans night travel on key highways amid surge in militant attacks

Pakistan’s Balochistan bans night travel on key highways amid surge in militant attacks
  • Balochistan bans travel across highways in Zhob, Nushki, Gwadar, Musakhel and Kachhi districts from 6:00 am to 6:00 pm
  • Militant violence, including a train siege, suicide blast and ethnic killings, have increased in Balochistan this month 

QUETTA: The government in Pakistan’s restive southwestern Balochistan has banned people from traveling at night on major highways across the province, notifications from multiple deputy commissioners said this week, as it grapples with surging militant attacks.

As per notifications dated Mar. 27 from the deputy commissioners of districts Zhob, Nushki, Gwadar, Musakhel and Kachhi, public and private transport have been banned from traveling across major highways in Balochistan from 6:00 p.m. to 6:00 am. 

The ban covers several significant highways, including the Quetta-Taftan highway which connects Pakistan to Iran, the Loralai-Dera Ghazi Khan Road, the Sibi Road, the Coastal Highway, and the Zhob-Dera Ismail Khan Road. 

“As per directives from the Balochistan Home Department and in light of the current situation, from Mar. 27 until further notice, all citizens are informed that they should avoid traveling on the Zhob-DI Khan National Highway from 6 p.m. to 6 am,” a notification from the district’s deputy commissioner said. 

“Passengers and transporters will be stopped at the New Bus Stand.”

The decision has been taken amid a surge in militant attacks in Balochistan, including an alleged suicide blast on Saturday that targeted a protest camp in Mastung. The blast followed a deadly train siege earlier this month that ended in around 60 deaths, half of whom were separatists behind the assault.

Pakistan has been battling a separatist insurgency in Balochistan for decades, where militants target state forces and foreign nationals in the mineral-rich southwestern province bordering Afghanistan and Iran.

A suicide blast in Nushki district this month killed five, including three paramilitary soldiers, in the province. Militants in Balochistan have also frequently targeted laborers and commuters from the eastern Punjab province. 

At least five passengers from Punjab were forcibly offboarded from passenger buses heading to Karachi from Gwadar on Wednesday, after gunmen checked their identity cards and killed them near the southwestern town of Pasni. 


World Bank approves $300 million loan to support Pakistan province’s plan to curb smog

World Bank approves $300 million loan to support Pakistan province’s plan to curb smog
Updated 30 March 2025
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World Bank approves $300 million loan to support Pakistan province’s plan to curb smog

World Bank approves $300 million loan to support Pakistan province’s plan to curb smog
  • Every year, thick smog triggered by factory and traffic emissions blankets cities in Punjab province
  • Punjab’s smog action plan aims to improve air quality in transport, agriculture, energy, other sectors

ISLAMABAD: The World Bank has approved a $300 million concessional loan to support efforts by Pakistan’s eastern Punjab province to improve air quality and battle smog, state-run media reported this week. 

Lahore, the provincial capital of Punjab, often ranks as the most polluted megacity in the world during the winter season between November and February. Experts say the pollution is primarily caused by factory and traffic emissions. It worsens in winter as farmers burn crop stubble and cooler temperatures and slow-moving winds trap the deadly pollutants.

Lahore’s 14 million residents spent six months breathing concentrations of PM2.5 — tiny particles that can penetrate the lungs and bloodstream — at levels 20 times or more than recommended by the World Health Organization last year, as per data analyzed by AFP.

“The World Bank has approved a concessional loan worth 300 million dollars under the International Development Association (IDA) to support the Punjab Clean Air Program (PCAP),” state broadcaster Radio Pakistan reported on Saturday. 

It said the initiative aims to strengthen air quality management and combat pollution across the province, adding that the PCAP will assist Punjab in implementing its Smog Mitigation Action Plan (SMAP). 

The SMAP will seek to introduce several measures to improve air quality, particularly in the transport, agriculture, industry, energy, and municipal services sectors, the state-run media said. 

As per the report, World Bank Country Director Pakistan Najy Benhassine described the program as a “landmark initiative” for improving air quality and public health. 

“He said the cleaner air will reduce respiratory and cardiovascular diseases, leading to a healthier and more livable environment,” Radio Pakistan said. 

The report added that the program will enhance air quality management infrastructure, strengthen regulatory institutions and promote public awareness about pollution control.

“Key interventions under the program include the introduction of 5,000 super seeders to curb crop residue burning, which is one of the main causes of seasonal smog, along with the deployment of 600 electric buses to encourage public transport use,” Radio Pakistan said. 

The loan will also be used to increase regulatory-grade air quality monitoring stations across Punjab, with two new fuel testing laboratories to be established to improve fuel quality standards.

The program will promote behavioral change through educational campaigns and citizen engagement, with schools and hospitals, along with other vulnerable groups, to receive targeted adviseries on air pollution health impacts and prevention measures.

This year the smog in Punjab was so thick it could be seen from space and prompted authorities to close schools serving millions of students across the province, including Lahore.

Air pollution can cause sore throats, stinging eyes and respiratory illnesses, while prolonged exposure can trigger strokes, heart disease and lung cancer

With inputs from AFP


Pakistan’s central moon sighting committee to meet today to sight Eid crescent 

Pakistan’s central moon sighting committee to meet today to sight Eid crescent 
Updated 30 March 2025
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Pakistan’s central moon sighting committee to meet today to sight Eid crescent 

Pakistan’s central moon sighting committee to meet today to sight Eid crescent 
  • Dates for Ramadan, Eid are confirmed by committee via visual observations, testimonies
  • Ramadan in Pakistan began on Mar. 2, a day later than in most other Muslim countries

ISLAMABAD: Pakistan’s central moon sighting committee will meet in the country’s capital today, Sunday, to sight the Shawwal moon and announce the date for Eid Al-Fitr, state-run media reported. 

In Pakistan, the Ruet-e-Hilal Committee is tasked with sighting the moon for new Islamic months. Dates for Ramadan and Eid festivals are confirmed by the committee through visual observations and based on testimonies received of the crescent being sighted from several parts of the country.

The sighting of the new moon, or the Shawwal crescent, signifies the end of the fasting month of Ramadan and the beginning of Eid Al-Fitr and its festivities. 

“The meeting of the Central Ruet-e-Hilal Committee will be held this evening to sight the Moon of Shawwal,” state broadcaster Radio Pakistan reported.

It said RHC Chairman Maulana Syed Muhammad Abdul Khabir Azad will preside over the meeting, which will be held at the rooftop of the Ministry of Religious Affairs and Interfaith Harmony in Islamabad. 

The state broadcaster said zonal meetings of the committee to sight the moon will simultaneously be held in Pakistan’s provincial capitals. 

Ramadan in Pakistan began on Mar. 2, a day later than in most other Muslim countries, and Eid is thus widely expected to fall on Mar. 31.

The Shawwal moon was sighted in Saudi Arabia on Saturday, marking the end of the month of Ramadan. Eid Al-Fitr is being celebrated in the Kingdom, United Arab Emirates and other Middle Eastern countries today.