Pakistan stock market sees ‘slower’ activity as investors remain cautious before budget

Stockbrokers interact during a trading session at the Pakistan Stock Exchange (PSX) in Karachi on May 12, 2025. (AFP/File)
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Updated 19 May 2025
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Pakistan stock market sees ‘slower’ activity as investors remain cautious before budget

  • KSE-100 index surges 40.49 points or by 0.03 percent to reach 119,689.63 points
  • Pakistan is set to unveil its federal budget for the upcoming fiscal year 2025–26 in June

ISLAMABAD: The Pakistan Stock Exchange (PSX) surged by only 0.03 percent when trading ended on Monday, with a financial analyst attributing it to “slower trading activity” as investors remain cautious ahead of the upcoming federal budget to be announced by the government. 

Pakistan’s federal budget for the next fiscal year, starting July, will be finalized within the next three weeks. Pakistan’s scheduled budget talks with the International Monetary Fund (IMF), which began on May 14 are scheduled to take place till May 23, the finance ministry had said.

The KSE-100 index surged by 40.49 points or 0.03 percent to reach 119,689.63 points when the market closed at 4 p.m. on Monday, data from the Pakistan Stock Exchange (PSX) said. 

“The KSE100 has started the week on a muted note, which is reflecting in slower trading activity,” Raza Jafri, head of Intermarket Securities, told Arab News.

“It is possible that investors are waiting for the FY26 Budget, expected in early June, before they become more active.”

Pakistan’s stock market suffered an upheaval triggered by the most intense military row between Pakistan and India in years earlier this month. The two nuclear-armed nations agreed to a US-brokered ceasefire on May 10 after pounding each other with missiles, drones, artillery and fighter jets for four days. 

The crisis triggered a 12 percent decline in the Pakistani stock market from April 23 till May 8.
However, the market recovered nearly all of its losses last week, climbing more than 3,500 points.


Pakistan approves halal meat export policy, targets expansion in Muslim, global markets

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Pakistan approves halal meat export policy, targets expansion in Muslim, global markets

  • Pakistan’s total production of halal meat stands at six million metric tons annually, PM Office says
  • Pakistan exported meat such as beef, mutton and poultry worth $512 million in 2024, official data states

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday approved Pakistan’s halal meat export policy, directing authorities to draw up a three-year action plan aimed at targeting Muslim and global markets, his office said.

Pakistan has attempted in recent months to increase its halal meat exports to other Muslim countries, such as Malaysia. Both countries announced they had agreed to a $200 million halal meat trade quota during Sharif’s visit to the country in October. 

Sharif chaired a meeting on Thursday to review Pakistan’s halal meat export policy, in which officials informed him that Pakistan’s halal meat production stands at 6 million metric tons. Officials told the prime minister that after fulfilling local demand, a substantial quantity of the meat is available for export. 

“A coordinated and comprehensive strategy, developed in collaboration with all relevant federal ministries and provincial governments, is essential to secure a significant share for Pakistan in the halal meat markets of Muslim countries and worldwide,” the Prime Minister’s Office (PMO) quoted Sharif as saying. 

A 2024 report by the Pakistan Bureau of Statistics (PBS) said the country exported meat worth $512 million last year, which included beef, mutton and poultry.

The new export strategy outlines regulatory reforms, disease control measures and upgraded slaughterhouse standards that fulfill the global criteria. 

Sharif directed authorities to present a proposal within two weeks to improve cold storage facilities and halal meat production in accordance with global standards. He also called for the establishment of centers, in cooperation with the government, to enhance meat production and its nutritional value.

The prime minister assured that his government would provide support for international certification of local slaughterhouses and for their bilateral registration with other countries.

“Special steps will be taken to ensure slaughterhouses are disease-free and meet international hygiene and sanitation standards, the prime minister directed,” the PMO statement said. 

According to the PBS, the United Arab Emirates (UAE) remained Pakistan’s top meat export market in 2024 with exports to the Gulf nation reaching $201 million. Meanwhile, meat exports to Saudi Arabia recorded a growth of 65.1 percent last year at $141 million. 

Other major destinations for meat exports include Kuwait, Qatar, Uzbekistan, Vietnam and Kazakhstan, while China and Kyrgyzstan are among new markets where Pakistan exports meat.

Private Pakistani companies have also stepped up efforts recently to boost meat exports to Muslim countries and other nations. 

In September, Karachi-based private company, The Organic Meat Company Limited (TOMCL), secured a $7.5 million order to export cooked or heat-treated frozen boneless beef to China, followed by an $8.1 million contract with Gold Crest Trading FZE for frozen boneless beef exports to the UAE for industrial and household processing.

In November, TOMCL said it was targeting the Gulf Cooperation Council (GCC), Chinese, Canadian and Commonwealth of Independent States (CIS) markets to expand its global footprint.