Egyptian authorities clear ten Pakistani suppliers for meat imports

This photograph taken on April 9, 2015, shows Pakistani health inspectors as they certify meat by placing stamps at a government slaughterhouse in Lahore, Pakistan. (AFP/File)
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Updated 19 November 2021
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Egyptian authorities clear ten Pakistani suppliers for meat imports

  • Pakistan's exports of meat and meat preparations went up by 10% in the last fiscal year to $334 million
  • Last month, Jordan allowed three Pakistani producers to export meat to the kingdom

ISLAMABAD: Egyptian veterinary authorities have cleared for imports 10 meat producers from Pakistan, the Pakistani prime minister’s commerce adviser said on Friday.
Pakistan ranks in the top 20 countries in the global halal meat exports, and a 2017 study by the Karachi Chamber of Commerce and Industry (KCCI) showed the industry was growing 27 percent annually.
The country’s exports of meat and meat preparations went up by 10 percent in the last fiscal year to $334 million, though they declined by 4 percent during the first two months of the current fiscal year to $49.55 million, according to the Pakistan Bureau of Statistics.
“Congratulations to ten slaughterhouses from Pakistan which have been approved by the Egypt’s Veterinary Quarantine Department for export of meat to Egypt. This has been done as a result of audit conducted by the Egyptian Veterinary authorities,” Abdul Razak Dawood said in a tweet as he shared the names of the companies.

Pakistani meat producers have lately seen a series of import clearance notifications coming from the Middle East.
Last month, Jordan allowed three Pakistani producers, including The Organic Meat Company Limited (TOMCL), to export meat to the kingdom.
TOMCL last year became the first Pakistani company to get approval from Saudi Food & Drug Authority to export frozen meat via sea to kingdom, as it won a contract of $3.9 million to export 100 metric tons of frozen boneless meat to Saudi Arabia. 
In September, the Karachi-based halal meat processing and export enterprise secured a $1 million contract to supply frozen boneless meat to Saudi Arabia for a period of 10 months.


Pakistan stocks hit record high on hopes of rate cut, improved US ties

Updated 19 January 2026
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Pakistan stocks hit record high on hopes of rate cut, improved US ties

  • Benchmark index gains 2,662 points, or 1.44 percent, to close at an all-time high of 187,761 points
  • Engro, UBL, Hub Power, Fauji Fertilizer, Meezan Bank and Service Industries added 1,554 points to index

ISLAMABAD: The Pakistan Stock Exchange (PSX) hit a record high as it surpassed the 187,500-point mark on Monday, with analysts citing improving ties with the United States and expectations of an imminent interest rate cut.

The benchmark KSE-100 index gained 2,662.86 points, or 1.44 percent, to close at an all-time high of 187,761.69 points, up from the previous close of 185,098.83 points, according to PSX data.

The stock gains came a day after President Donald Trump invited Prime Minister Shehbaz Sharif to join the so-called “Board of Peace” for Gaza, amid increasing Pakistan-US diplomatic and economic engagement since Trump’s rise to presidency.

“Falling government bond yields and improving Pakistan-US relations played a catalyst role in record close at PSX,” Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News.

Meanwhile, Karachi-based market research firm Topline Securities said bulls extended their rally as hopes of a rate cut by the State Bank of Pakistan (SBP) fueled investor sentiment.

“Investor sentiment remained upbeat, largely fueled by rising expectations of an imminent interest rate cut,” it said in a post on X. “Market participants increasingly priced in a 50bps reduction in the upcoming monetary policy, which kept buying interest alive and underpinned broad-based gains.”

In December, the SBP cut its key policy rate by 50 basis points to 10.5 percent, resuming monetary easing after four meetings in a move that surprised many despite International Monetary Fund guidance to keep policy “appropriately tight” to anchor inflation expectations.

Engro Holdings Limited (ENGROH), United Bank Limited (UBL), Hub Power Company Limited (HUBC), Fauji Fertilizer Company Limited (FFC), Meezan Bank Limited (MEBL) and Service Industries Limited (SRVI) collectively added 1,554 points to the benchmark index on Monday, according to Topline Securities.

“Total market volumes stood at 1,195 million shares, while the value of shares traded amounted to Rs63.7 billion,” the research firm said. “[Bank Makramah Limited] BML led the volume chart, emerging as the most actively traded stock with 246 million shares.”