ISLAMABAD: As part of his two-day visit to Saudi Arabia, Pakistan’s Prime Minister Imran Khan began his trip from Madinah, following which he was expected to lead the country’s delegation at a key investment conference in Riyadh on Tuesday.
PM Khan and his coterie of officials arrived in Madinah on Monday night where they were received by Governor Faisal bin Salman bin Abdulaziz Al Saud. The group prayed together at the Prophet's Mosque in Madinah before heading to Riyadh to attend the Future Investment Initiative (FII) conference.
Foreign Minister Shah Mahmood Qureshi, Finance Minister Asad Umar, Information Minister Chaudhry Fawad Hussain and Adviser to the Prime Minister on Commerce, Abdur Razak Dawood are part of the delegation accompanying the prime minister.
In a statement released earlier, Pakistan’s Foreign Ministry said that PM Khan was visiting the Kingdom on the special invitation of King Salman to participate in the prestigious business conference from October 23 to 25. Also known as “Davos in the desert”, the event is expected to host leading businesspersons, investors, corporate giants, representatives of the hi-tech industry and major media outlets on one platform.
“Prime Minister Imran Khan’s participation in the first day of the conference is aimed at projecting Pakistan’s economic and investment potential and his vision for the country in the five years to come,” the statement added.
“The conference provides an opportunity to interact with important business leaders who are interested in investing in Pakistan.”
As part of his visit, PM Khan is also expected to call upon King Salman and Crown Prince Muhammad Bin Salman.
The FII conference is now an annual feature in Saudi Arabia. It was held for the first time last year and witnessed the participation of 3,800 people from 90 countries. This year’s conference is also likely to attract a large number of leading figures.
“The prime minister’s participation in the conference signifies our solidarity with the Kingdom in its efforts to become an emerging hub of international business and investment,” the statement concluded.
PM Khan arrives in Madina in first leg of visit
PM Khan arrives in Madina in first leg of visit
- Khan will attend the Future Investment Initiative (FII) conference in Riyadh
- PM to interact with important business leaders at the conference
Pakistani companies likely to raise over $89 million in new stock listings this year
- Farrukh H. Sabzwari says approvals for two listings already granted while 10 more Initial Public Offerings are expected over next 12 months
- Economists expect KSE-100 index to reach 208,000 points by Dec., reflecting pent-up demand, strategic expansions and broader investor appetite
KARACHI: The Pakistan Stock Exchange (PSX) expects at least a dozen new listings this year, the PSX chief executive officer said on Monday, with the new entrants likely to raise as much as Rs25 billion ($89.3 million) in funding through the equity market.
Pakistan’s benchmark KSE-100 index has rallied to new highs and recorded returns of around 50 percent in Calendar Year (CY) 2025. The market closed at 182,384 points on Monday.
Around 135,000 new investors have also joined the PSX over the last 18 months, according to Pakistani state media.
“Continuing with the momentum, in CY2026, approvals for two Main Board listings have been granted,” PSX CEO Farrukh H. Sabzwari, who has previously served as a local partner of BoA Merrill Lynch and country head of CLSA Emerging Markets in Pakistan, told Arab News.
“PSX is expecting 10 more IPOs (Initial Public Offerings) over next 12 months across various sectors.”
Pakistan’s growing stocks mirror the country’s stabilizing economy which Prime Minister Shehbaz Sharif’s government expects would expand 3.9 percent this fiscal year through June with the help of the International Monetary Fund’s reforms-oriented $7 billion loan program.
The new IPOs would cover food, pharmaceutical, real estate investment trust (REIT), engineering, technology, oil and gas marketing, insurance, auto parts, manufacturing and energy sectors of the economy, according to Sabzwari.
Last year, the PSX listed Zarea Limited, Barkat Frisian Agro Limited, Image REIT, Pak Qatar Family Takaful, Blue-Ex Limited, Nets International Communication Limited and the Pakistan Credit Rating Agency Limited. These listings helped companies raise Rs4.3 billion ($15.4 million) of funding.
In addition, the PSX debt market witnessed seven issuances, valuing Rs10.5 billion ($37.5 million). Pakistan’s finance ministry raises funds through PSX by selling borrowing instruments like Islamic sukuk.
The PSX recorded the highest eight IPOs in a single year in 2021, according to Shankar Talreja, head of research at Topline Securities Ltd. It would be a record if the market lists 12 new entrants this year.
Sana Tawfiq, an economist at Karachi-based brokerage research firm AHL, described the market performance last year as “exceptional.”
“With projected fundraising of up to Rs25 billion ($89.3 million), the upcoming pipeline reflects pent-up demand, strategic expansions, and a broader investor appetite,” she said.
Tawfiq expects the KSE-100 index to reach 208,000 points by Dec. this year.
“As we look toward 2026, Pakistan’s equity market is entering a phase defined by stability, depth, and sustainable growth,” the economist said.
“The market is now transitioning toward a more measured trajectory.”
Key drivers in 2026 would likely include sustained domestic liquidity in equities, strengthening foreign reserves and a contained current account deficit, successful completion of the Pakistan International Airlines (PIA) privatization alongside accelerating progress on privatization and restructuring of power distribution companies (DISCOs), continued efforts to resolve circular debt in both power and gas sectors, and supportive global commodity prices, according to Tawfiq.
In a recent note to its clients, Topline Securities said the current IPO momentum was driven by macroeconomic stability under the IMF program, improving investor confidence and a declining interest rate environment.
Pakistan’s central bank last month cut its interest rate by 50 basis points to 10.5 percent in a surprising move aimed at boosting economic growth in the inflation-hit country.
“Despite ongoing geopolitical and macroeconomic uncertainties, investor sentiment continues to improve,” it said.
