KARACHI: The Pakistan Stock Exchange (PSX) on Monday crossed the 133,000-point barrier to hit a record high, market data showed, with analysts attributing the rally to hopes of banking dividend payouts and a United States-Pakistan trade deal.
The benchmark KSE-100 index rose by 1,421.08 points, or 1.08 percent, to close at 133,370.14 points, compared to the previous day’s close of 131,949.06 points, according to the PSX website.
“The rally persisted throughout the day, with the index hitting an intraday high of 133,862, fueled by strong performance in banking stocks amid expectations of robust earnings and dividend payouts for the June quarter,” Naveed Nadeem, senior equity trader at Karachi-based Topline Securities brokerage firm, said in their market review.
“Textile stocks also advanced, likely supported by optimism over a potential tariff agreement with the US.”
US President Donald Trump imposed in April steep tariffs on a number of countries, a move widely viewed as a setback for the global economy still recovering from the coronavirus pandemic.
There have been reports that the US and Pakistan, which faced 29 percent tariff on its goods that was paused for three months, have reached an understanding on a deal ahead of a July 9 deadline that could shape the future of the South Asian country’s key export sectors.
While optimism prevailed over a possible trade tariff deal, positive developments over the macroeconomic front also played a key role in driving the bulls at the market.
“Stocks closing to new all-time high showed recovery on receding fears over US trade tariff after a trade agreement was [reportedly] reached, preventing 29 percent trade tariff on Pakistan,” Ahsan Mehanti of Arif Habib Corporation told Arab News.
“Investors weigh surging foreign exchange reserves. Rupee stability and government’s deliberation for privatization of SOEs (state-owned enterprises} played a catalyst role in record surge.”
Pakistan’s stocks have surged as Islamabad moves to consolidate its financial recovery after years of economic turbulence, with the country’s foreign exchange reserves rising to $14.5 billion in June.
In recent years, the South Asian country has implemented tough structural reforms under the International Monetary Fund (IMF) loan programs, aimed at reducing fiscal deficits and restoring investor confidence.
“The regional and geopolitical issues also subsided last month which has further given confidence to local investors,” Shankar Talreja, head of research at Topline Securities, told Arab News, referring to the Pakistan-India and Iran-Israel conflicts.
“We expect the index to touch 160,000 [points] by June 2026.”
TALAGANG: Maaz bin Majid walked toward his laptop in his bedroom in the eastern city of Talagang, moving slowly as he navigated the usual stiffness in his muscles. He turned it on and began surfing websites for scholarship opportunities to continue his studies.
Born with cerebral palsy, a neurological condition affecting muscle coordination and movement, the 25-year-old earned the gold medal in his master’s degree in Special Education from Allama Iqbal Open University (AIOU).
The news of his winning the gold medal came as a “shock” to both Majid and his mother, Nighat Malik, after the university informed them of his achievement.
“For three days, I was in complete shock,” Majid told Arab News. “When a person has a problem and he suddenly finds out that he is getting a gold medal.”
Maaz Majid, Gold Medalist in Master's in Special Education (right) poses for a group photo with his father Malik Majid Jahangir (center) at his home in Talagang, Pakistan, on December 10, 2025. (AN)
According to the 2023 census, Pakistan has 7.4 million persons with disabilities, though independent organizations say the number is likely higher. They often face barriers in education, economic participation, legal recognition, and access to clinical resources.
In Islamabad, there are 73,022 persons with disabilities, including 6,304 school-age children. Yet only 1,900 students are enrolled across five public-sector special education institutes, a mere 30 percent.
The education ministry, which took charge of these institutes from the Ministry of Human Rights in June 2024, reports that 85.7 percent are critically understaffed, 100 percent lack non-teaching support personnel, and 85.7 percent lack essential specialists such as psychologists, speech therapists, and audiologists.
The federal government claims it is addressing these gaps. Contracts have been awarded for upgrades to special education institutions in Islamabad. A project to equip university students with special needs has been added to the Public Sector Development Programme (PSDP) for 2025-26.
“It’s a Rs1.8 billion [$6.4 million] project where electric wheelchairs, computers with braille technology, and other assistive devices will be provided to students in various universities across Pakistan,” Federal Secretary of Education Nadeem Mahbub told Arab News.
Maaz Majid, Gold Medalist in Master's in Special Education, works on his laptop at his home in Talagang, Pakistan, on December 10, 2025. (AN photo)
Punjab, Pakistan’s most populous province, is home to 1.73 million children with disabilities, aged 5 to 17. According to “Pakistan Education Statistics,” a 2023-24 report by the federal education ministry, Punjab operates 293 special education institutes serving 38,478 students. In contrast, Sindh enrolls 4,283 students across 65 institutes, Khyber Pakhtunkhwa (KP) serves 432 students in three institutes, and Balochistan has 891 students across 16 facilities.
Dr. Hina Noor, head of AIOU’s Special Education Department, acknowledged Punjab’s relative progress compared to other provinces.
“They (KP, Sindh and Balochistan) have not been able to do as much progress as Punjab has done,” she said.
In its 2021-22 report, the federal education ministry noted that Punjab allocates the highest budget and share for special education, followed by other provinces.
While it indicates recognition of the importance of special education in the country’s most populous province, the infrastructure gap extends beyond the school level.
A recent survey by Dr. Noor’s department found that across all of Punjab, only a little over 100 students with special needs are enrolled in higher education programs.
In 2021, Pakistan’s Higher Education Commission introduced a policy requiring universities to reserve at least one seat for students with disabilities.
“With these directives, accessibility and enrollment will increase in the future,” Dr. Noor said, stressing that teachers need training to educate students with disabilities, using adapted methods rather than the same curriculum applied to all students.
‘PROBLEM WITH MYSELF’
Malik knows the stigma attached to her son’s condition. When she first took Majid to a private hospital in Islamabad, a doctor said he would “never be able to do anything,” suggesting that at best he might learn to care for himself. The mother paused treatment for six months but later sought a second opinion in Lahore, where doctors reassured her that physiotherapy could help him improve significantly.
Watching her son navigate a system not designed for him, Malik pursued a master’s degree in Special Education and is now a principal at a government-run school in Chakwal where she applies those lessons to help other families.
“I wanted to tell [others] how difficult it is for parents to have a special child,” she said.
Maaz Majid, Gold Medalist in Master's in Special Education (right) poses for a group photo with his father Malik Majid Jahangir (center) at his home in Talagang, Pakistan, on December 10, 2025. (AN)
Majid was first enrolled in a mainstream school in Talagang, where the administration and fellow students facilitated his early education. But during 10th grade, a medical treatment intended to improve his condition backfired dramatically, according to his mother.
He spent weeks recovering, struggling to speak or perform basic daily activities. The medical treatment eventually restored his mobility and speech, but the aftermath left his facial muscles weakened and his writing ability severely compromised.
Malik said her son, who required scribes to write in examinations and relied on the AIOU’s distance learning program to avoid the challenges of regular travel after intermediate, had a relentless study routine: waking up early, studying throughout the day, with no time for entertainment.
For Majid, choosing the same field as his mother came from first-hand experience of the challenges.
“Because I have a problem with myself, I thought that I should do something for other special kids as well,” he added.
