At least five killed as massive fire guts dozens of shops at Pakistan mall — rescue official

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Firefighters douse a fire that broke out at a shopping mall in Karachi on January 18, 2026. (AFP)
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Firefighters douse a fire that broke out at a shopping mall in Karachi on January 18, 2026. (AFP)
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People gather as firefighters try to control a massive fire that broke out in a multi-story shopping mall, in Karachi, Pakistan, on January 18, 2026. (AP)
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Firefighters douse a fire that broke out at a shopping mall in Karachi on January 18, 2026. (AFP)
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Updated 18 January 2026
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At least five killed as massive fire guts dozens of shops at Pakistan mall — rescue official

  • More than 20 fire trucks were busy dousing the fire at Karachi’s Gul Plaza
  • The cause of the fire, which injured 15 people, was not immediately known

ISLAMABAD: A massive fire tore through a multi-story shopping mall in the southern Pakistani port city of Karachi late Saturday and killed at least five people, rescue officials said.

Firefighters and rescue workers rushed to Gul Plaza in Karachi’s Saddar business district upon receiving information about the blaze at around 10pm, according to a Rescue 1122 spokesman.

Television footage showed firefighters in protective gear battling the flames as several fire trucks used ladders, water cannons and hoses to douse the building’s floors, where flames shot out of windows and balconies.

The cause of the fire was not immediately known.




Firefighters douse a fire that broke out at a shopping mall in Karachi on January 18, 2026. (AFP)

“More than 20 fire brigade trucks, water bowsers and snorkels are present at the scene and additional firefighting resources have been called in,” the spokesman said early Sunday.

“Over 20 people were injured in the fire and the death toll has now reached five.”

Police said an investigation would be launched once the blaze was extinguished. However, most structures in Karachi, and other parts of the country, lack fire prevention and firefighting systems, which often result in damages and casualties.

Authorities said the fire spread rapidly after erupting in an area of the mall where shopkeepers had stored imported garments, clothing and plastic household goods, which helped fuel the flames.

“Due to the old nature of the building, there is a risk of its collapse after being affected by the severe fire,” the Rescue 1122 spokesman said. “The operation is being carried out with extreme caution.”

Karachi is the capital of southern Sindh province, where such incidents are common. In November 2023, a fire tore through a shopping mall in the city, killing 10 people and injuring 22 others.


Pakistan regulator amends law to facilitate capital raising by listed companies

Updated 19 January 2026
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Pakistan regulator amends law to facilitate capital raising by listed companies

  • The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
  • Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,

The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.

This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.

“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.

The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.

The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.

“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.

“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”

The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.