ISLAMABAD: At least five workers were killed and three injured on Tuesday after the roof of a warehouse collapsed on the outskirts of Islamabad, prompting the district administration to seal the property and initiate an inquiry.
According to the top district administration official, a committee has been constituted to investigate how the roof of the building in the Humak area caved in and to determine if there were any precautionary measures in place that could have prevented the incident.
“It was an under-construction building that has been sealed now, but unfortunately, five workers have lost their lives in the tragic incident,” Deputy Commissioner Irfan Memon told Arab News.
The district administration has shifted the injured to a hospital for treatment. Three of the deceased have been identified as residents of Taunsa Sharif in Dera Gazi Khan district in Punjab and one from Malir in Karachi.
“The inquiry has been initiated to ascertain the cause of the incident, and further action will be taken in light of the inquiry report,” Memon said.
Rescue officials arrived at the scene soon after the incident, saying they saved the lives of at least two workers by timely pulling them out of the rubble.
Roof collapses are not uncommon in Pakistan, especially during the monsoon season, though such incidents are mostly reported from remote parts of the country where people live in mud houses.
An incident like this in Islamabad can raise concerns about building safety standards in the capital city.
Five workers killed as roof of warehouse collapses in Islamabad
https://arab.news/jm7th
Five workers killed as roof of warehouse collapses in Islamabad
- Officials have sealed the property, launched an inquiry to determine the cause of the roof collapse
- Rescue officials say they saved the lives of at least two workers by timely pulling them out of the rubble
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.
