Officials estimate losses after fires gut factory, damage four other plants in Pakistan’s Karachi

A Fire truck is seen parked at the site in Karachi where a fire broke out in the garment factory on August 7, 2025. (Rescue 1122)
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Updated 08 August 2025
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Officials estimate losses after fires gut factory, damage four other plants in Pakistan’s Karachi

  • Factory fires are common in Karachi, where industrial zones often suffer from poor safety standards and inadequate enforcement of regulations
  • In Nov., a blaze killed around a dozen people at a shopping mall, while more than 250 people were killed in the deadliest such incident in 2012

KARACHI: Officials were assessing damages after two fires gutted a garments factory and damaged four other manufacturing plants in Pakistan’s commercial capital of Karachi, they said on Friday.

In the first incident, a blaze broke out at the MashaAllah Factory, which processes imported second-hand clothing, and led to the total collapse of the building, according to Hasaan Khan, a spokesperson of Sindh Rescue 1122 service.

At least seven people were injured who were shifted to hospital, while the blaze later engulfed three nearby plants located within the Landhi Export Processing Zone.

“During the cooling-off period, another factory, named Home Furnishings, caught fire at around 11:30pm on Thursday,” Khan told Arab News.

“Our teams were present close to the site and immediately doused the blaze.”

The official said they were estimating losses and ascertaining the causes of the fires.

Factory fires are common in Karachi, a city of over 20 million, where industrial zones often suffer from poor safety standards, lack of fire exits, and inadequate enforcement of regulations.

In Nov. last year, a blaze at a shopping mall killed around a dozen people and injured several others. In April 2023, four firefighters died and nearly a dozen others were injured after a blaze erupted at a garment factory, while 10 people were killed in a massive fire at a chemical factory in the city in August 2021.

In the deadliest such incident, 260 people were killed in 2012 after being trapped inside a garment factory when a fire broke out.

Despite frequent incidents, industrial safety remains a persistent concern in the city, putting thousands of laborers and residents at ongoing risk.


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

Updated 05 March 2026
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Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

  • Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
  • Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity

ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said. 

Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday. 

The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.

Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday. 

“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.

He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.

An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.

However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days. 

Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.

The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.

Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.

Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.