🚨 Risk 💰 Pressure 📊 Markets

Another Week, Another Pulse!

If last week had a theme, it was this: pressure building from all sides with geopolitics heating up, economic screws tightening, and policy signals getting harder to ignore.

The political noise didn’t ease up. Iranian FM Abbas Araghchi was back in Pakistan over the weekend after a stop in Oman, part of a quiet but deliberate attempt to keep communication open between Iran and the United States. Pakistan stepping into a facilitator role is familiar, but doing so in the middle of an active conflict raises the stakes. Around the same time, Donald Trump was evacuated from an event in Washington after gunshots were reported nearby. Different situation, same signal. Instability is not limited to one region anymore.

Back home, the economic reality remained front and centre. Fuel prices were increased by Rs26.77 per litre in a single move. Global oil prices explain part of it, but the broader context matters more. With the fiscal year nearing its end and targets to meet, revenue collection is taking priority. This runs directly into Pakistan’s ongoing engagement with the International Monetary Fund. The programme is not just continuing, it is becoming more demanding. Additional conditions have been introduced, and a decision on the next 1.2 billion dollar tranche is expected in early May. The direction is becoming clearer with stricter controls, fewer incentives, and deeper structural adjustments.

That tightening is visible in policy actions. Around 300 billion rupees is being consolidated into the national treasury by closing government department accounts, improving control over public funds. External support is still playing a central role. Pakistan completed repayment of 3.45 billion dollars to the UAE, received another 1 billion dollars from Saudi Arabia, and saw foreign exchange reserves move slightly above 15 billion dollars. These steps help maintain stability, but they do not change the underlying position.

Access to global markets remains open, though not cheaply. The government raised 750 million dollars through a Eurobond at nearly seven percent, even increasing the size of the issue. Demand exists, but so does the cost, and that cost reflects how international markets continue to view risk.

Expectations within the market are shifting accordingly. There is increasing belief that interest rates may rise again. Inflation pressures linked to fuel, combined with IMF-linked adjustments, leave limited room for easing.

At the same time, gradual tightening continues elsewhere. Vehicle import rules are expected to become stricter from July, aimed at improving compliance and transparency. Electricity shortages also resurfaced during peak hours due to lower hydropower generation, quietly affecting both households and economic activity.

Looking ahead, early signals around the upcoming budget point in the same direction. The 2026 to 2027 budget, expected in early June, is unlikely to provide broad relief. Tax exemptions are expected to narrow, pressure on salaried individuals may persist, and energy pricing adjustments could become more frequent in line with IMF commitments.

One development that stood out came from Punjab, where a feasibility study suggested cattle markets could be developed into a source of climate finance by converting animal waste into energy, fertiliser, and tradable carbon credits. It is not an immediate solution, but it reflects a shift toward exploring alternative sources of value.

Here’s your five minute recap of everything you should know. 

The Pakistan Stock Exchange (PSX) remained under pressure during the outgoing week, with the KSE-100 index falling over 3,200 points, or 2%, to close at 170,672.

Sentiment was driven lower by rising geopolitical uncertainty after delays in US–Iran negotiations, higher global oil prices amid tensions near the Strait of Hormuz, and concerns over fresh IMF conditions. Domestic energy constraints added further weight, keeping investors cautious throughout the week.

SECP proposes stricter money laundering rules

The Securities and Exchange Commission of Pakistan (SECP) has proposed stricter Anti-Money Laundering and Counter Financing of Terrorism rules to tighten investor verification and improve transaction transparency in capital markets. The new framework would allow digital onboarding but require IBAN-based verification, multi-biometric authentication, and the use of only verified bank accounts or e-wallets for all transactions, making it easier to trace funds and reduce misuse. This matters because it significantly raises compliance standards for brokers, asset managers, and investors, aiming to curb financial crime while modernising onboarding. If implemented, the changes will likely make account opening more secure but slightly more structured, with stronger checks built into every transaction from the start.

Three PSX Firms to Be Delisted After Failure to Clear Outstanding Dues

The Pakistan Stock Exchange (PSX) has ordered mandatory buybacks in Haseeb Waqas Sugar Mills (Haseeb Waqas Sugar Mills Limited), Dadabhoy Construction Technology (Dadabhoy Construction Technology Limited), and Imperial Limited (Imperial Limited) after prolonged non-payment of dues and regulatory non-compliance.

Majority shareholders must offer an exit to minority investors within 90 days, with PSX setting the buyback price. Failure to comply could lead to SECP winding-up proceedings and eventual delisting.

The move highlights tighter enforcement on non-compliant listed companies and stronger protection for minority shareholders.

SECP approves two more IPOs

The Securities and Exchange Commission of Pakistan (Securities and Exchange Commission of Pakistan) has approved two more IPOs on the Pakistan Stock Exchange (Pakistan Stock Exchange), taking FY26’s total to 11.

Sitara Petroleum Service Ltd will raise up to Rs4.8 billion to expand its fuel, logistics, and storage business, while LSE SPAC-I Ltd will raise funds through a fixed-price IPO for future acquisitions, including a stake in a renewable energy company. The approvals highlight continued momentum in Pakistan’s equity capital market.

Beyond markets and macro data, personal financial planning continues to gain attention in different forms. A recent Behtari guide on building a wedding fund in three years highlights how structured saving and goal-based investing are becoming more relevant for younger earners navigating rising wedding costs and inflation pressures.

Read now: https://behtari.com/blog/article/how-to-build-your-wedding-fund-in-3-years/59

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