Comment by Riaz Haq on December 27, 2025 at 8:56am

Sensex lags Pakistan, China and other major global markets this year by wide margin — what to expect in 2026?
Story by Saloni Goel


https://www.msn.com/en-in/money/markets/sensex-lags-pakistan-china-...


After displaying sharp outperformance over the last few years, the Indian stock market has taken a back foot in 2025. The returns offered by major global peers have eclipsed Sensex's performance as the index remained in consolidation mode amid several headwinds like steep tariffs, record FII outflows and fading earnings growth.

The extent of India's underperformance is such that it's also lagged its neighbour Pakistan, whose stock market has not only given high double-digit returns but also remains one of the top-performing global markets.

India vs Global markets

Sensex touched a record high this year. Yet, this feat was achieved after a gap of 14 months in November this year. The index has risen almost 9%, as the macro setup remained positive.

Yet, when compared to Pakistan, it's almost a sixth of the 52% return offered by the KSE 100 index this year, making it one of the best-performing markets globally. Pakistan’s surge is explained by its small market size alongside IMF support and domestic rate cuts that spurred liquidity.

Meanwhile, India’s underperformance this year is not about weak fundamentals, but about sentiment and missing foreign flows, said Harshal Dasani, Business Head at INVAsset PMS. Foreign investors have net sold Indian equities worth ₹156,852 crore in the last one year.


The weakness in the rupee, along with earnings slowdown, has reduced the Indian stock market's appeal for the FIIs. Another factor that has driven them away is the steep 50% tariff imposed by US President Donald Trump on Indian exports to the US.

Among other global markets, South Korea's KOSPI has topped the charts, with a massive 68% surge. Other Asian peers like China, Hong Kong and Japan have also delivered two or three times the returns by Sensex, having risen 16%, 28% and 29%, respectively in a year.

The mother market US has also delivered a stellar rally. Its broader S&P 500 index has seen a 15% rise. Meanwhile, the UK's FTSE 100 index has gained 21%.

Can Indian stock market reverse underperformance?

Analysts believe mojo can return to the Indian stock market once clarity emerges on the India-US trade deal front and flows return.

Dasani said that on most domestic and global parameters, India is positioned for a strong next leg. "Globally, conditions are supportive. Crude prices have remained below USD 70 per barrel, easing inflation and external pressures. Domestically, GDP growth is around 8.2%, RBI has cut rates, tax measures have supported consumption, and festive demand has lifted activity. Retail and domestic institutions continue to buy. The only overhang is FII caution, largely linked to uncertainty around India-US trade relations," he opined.

Pegging his view on when FIIs can likely return, Kranthi Bathini of Wealthmills Securities, said that earnings recovery coming to track will bring FIIs to the Indian markets again. He expects this to happen in the middle of 2026. Meanwhile, he remains bullish on the Indian stock market.

Global brokerages, too, have displayed their confidence in Indian equities, upgrading their ratings. Goldman Sachs, earlier in November, reversed its October 2024 downgrade, as it raised its rating for the Indian stock market to "overweight" from "neutral".

Similarly, in September this year, HSBC had upgraded its stance on Indian equities from "neutral" to "Overweight", citing improved valuations, supportive government policies, and resilient domestic

Comment by Riaz Haq on January 17, 2026 at 8:17pm

Pakistan’s factory output grows 10.37% in November despite continued export decline
Large-scale manufacturing expanded by 6.01% in July–November FY26; automobiles, petroleum, cement and garments drive growth despite exports fall 8.7% in H1FY26



https://profit.pakistantoday.com.pk/2026/01/17/pakistans-factory-ou...


Pakistan’s large-scale manufacturing (LSM) sector recorded a year-on-year growth of 10.37% in November, even as exports continued to decline, driven mainly by higher output in automobiles, petroleum products, garments and cement.


Data released by the Pakistan Bureau of Statistics showed that the LSM sector expanded by 6.01% during July–November FY26 compared with the same period last year. On a month-on-month basis, output edged up by 0.16%.

The strongest contributions to overall growth came from automobiles, petroleum products, garments and cement, while moderate support was also recorded from food, tobacco, textiles, paper and board, electrical equipment and other transport equipment.

However, output declined in chemicals, pharmaceuticals, iron and steel products, machinery and equipment, furniture, and leather-related segments.

During the first five months of FY26, automobile production surged 75% year-on-year, while output of coke and petroleum products rose 18.06%. Cement production increased by 13.47% and garments by 7.14%. Gains were also reported in food, beverages, tobacco, rubber products, non-metallic mineral products, fabricated metal items, electronics and electrical equipment.

In contrast, production fell in leather products, wood products, chemicals, pharmaceuticals, iron and steel, machinery and equipment, and furniture.

Comment by Riaz Haq on January 18, 2026 at 7:09pm

Pakistan To Launch 5G In 7 Cities: What IT Minister Announced in 2026


https://ldacity.com.pk/pakistan-to-launch-5g-in-7-cities/

Pakistan To Launch 5G In 7 Cities: What IT Minister Announced in 2026. Pakistan is stepping into a new era of connectivity as 5G services are set to launch in seven major cities. Federal Minister for IT and Telecommunication, Shaza Fatima Khawaja, confirmed this ambitious plan during the 26th ITCN Asia Expo in Karachi. The government’s vision aligns with the Digital Pakistan initiative, aiming to transform internet access, strengthen cybersecurity, and equip the youth with skills for the digital economy.

In this article, we will explore everything about Pakistan’s upcoming 5G rollout, the economic and technological implications, challenges, and what this means for citizens and businesses in 2026.

What 5G Means for Pakistan

5G technology is the fifth generation of wireless communication, offering:

Faster internet speeds (up to 100 times faster than 4G)
Low latency connections, enabling smoother streaming, gaming, and remote work
Enhanced connectivity for smart cities, AI applications, and IoT devices
For Pakistan, the adoption of 5G is more than just speed—it’s a pathway to digital transformation, increased economic growth, and improved government services. The seven cities selected for the initial rolloutare major urban hubs that will benefit first from ultra-fast mobile internet.
——————-

Benefits of 5G Rollout in Pakistan

The 5G rollout in Pakistan is expected to bring multiple benefits:

High-Speed Mobile Internet: Seamless streaming, faster downloads, and improved online gaming.
Smart City Development: Enhanced IoT, traffic management, and urban planning.
E-Government Services: Faster and reliable online services for citizens.
Business Growth: Opportunities for startups, e-commerce, and fintech innovation.
Global Competitiveness: Align Pakistan with other digital economies in Asia.

Comment by Riaz Haq on January 20, 2026 at 10:24am

Post

See new posts
Conversation
Topline Securities Ltd
@toplinesec
Topline Economy Alert
Jan 20, 2026

Pakistan’s high-frequency indicators and economic indicators reflected broad-based momentum in Dec 2025, driven by robust performance across autos, cement, urea, and power generation.

During Dec-25, the Cement dispatches remained healthy at 4.3mn tons, supported by ongoing infrastructure development and sustained private sector construction activity. Urea offtake reached an all-time high monthly sales of 1.4mn tons (+37% YoY), primarily on the back of improved farm economics. Auto sector activity remained robust, with passenger car and motorcycle sales rising 35% YoY to 13.3k units and 158.2k units, respectively, aided by new model launches and improved supply. Power generation also increased by 8.8% YoY to 8,487 GWh, indicating higher industrial and commercial demand.

On the macro front, economic activity remained resilient, supported by strong remittance inflows of US$3.6bn (+17% YoY) and LSM growth of 10% YoY. Reflecting easing inflationary pressures and improved monetary conditions, the 6M T-bill yield declined to 10.41% (-13% YoY), signaling a softer interest rate environment. However, external pressures resurfaced as the current account posted a US$244mn deficit, driven by imports substantially outpacing exports.

Regards,
Topline Research

@Financegovpk

@StateBank_Pak

@PBSofficialpak


#PakistanEconomy #EconomicOutlook #PakistanMarkets #CapitalMarkets #InterestRates
#TBillYields #Inflation #ToplineResearch #Industry

https://x.com/toplinesec/status/2013561301784756361?s=20

Comment by Riaz Haq on January 22, 2026 at 12:27pm

Nestle announces $60m additional investment in Pakistan, to expand operations in country

https://www.dawn.com/news/1968435

Nestle on Thursday announced that it would invest an additional $60 million in Pakistan and would also “undertake a robust expansion of its operations in the country”.

The development came as Finance Minister Muhammad Aurangzeb met Remy Ejel, the executive vice president and chief executive officer for Asia, Oceania, and Africa at Nestle, on the sidelines of the World Economic Forum (WEF) in Davos, according to a statement issued by the finance ministry.

https://x.com/kschehzad/status/2014290099211751513?s=20

The ministry said Aurangzeb chaired a high-level business roundtable on the sidelines of the WEF, bringing together chief executive officers and senior leaders of leading global corporations to discuss Pakistan’s reform trajectory, investment climate, and long-term growth potential.

“The roundtable formed part of the government of Pakistan’s ongoing engagement with multinational investors to promote policy predictability, economic formalisation, and sustainable, export-oriented growth,” it said.


“A major highlight of the discussion was the announcement by Ejel … of an additional investment of $60 million in Pakistan. Ejel stated that Nestle will undertake a robust expansion of its operations in the country, reaffirming its long-term commitment to Pakistan,” the statement said.

“He further announced that Nestle intends to use Pakistan as a regional manufacturing and export hub, exporting products to 26 countries from Pakistan. Expressing strong confidence in Pakistan’s economic outlook, Ejel foresaw robust growth in Nestle’s business in Pakistan in the coming years,” the statement said.

According to the finance ministry, the announcement builds on the company’s recent engagement with the minister in Islamabad, where the company had “outlined its strategy centered on localisation, advanced manufacturing, sustainability, and agricultural transformation”.

The statement further said that Ejal noted that Pakistan’s demographic profile, growing nutrition needs, and underpenetrated value-added food segments closely mirrored successful growth trajectories seen in Southeast Asia.

Meanwhile, Aurangzeb welcomed the announcement and described it as a “strong vote of confidence in Pakistan’s economic reforms and formalisation drive”.

“He reaffirmed the government’s commitment to strengthening the tax ecosystem, ensuring policy consistency, and facilitating responsible long-term investment through continued engagement with the private sector, including via the Tax Policy Office established within the Finance Division,” the statement said.

The minister also emphasised that Pakistan offered compelling opportunities in affordable nutrition, climate-resilient dairy, localised sourcing, and export-oriented manufacturing, and reiterated the government’s resolve to position Pakistan as a competitive base for regional production and global value chains.

Azerbaijan’s Socar signals investment in Pakistan’s oil and gas sector
A separate handout by the ministry said that following the high-level business roundtable chaired by Aurangzeb, the State Oil Company of the Republic of Azerbaijan (Socar) announced that it was set to finalise its investment in Pakistan’s oil and gas sector in February.

https://x.com/Financegovpk/status/2014294512278048786?s=20

The announcement was made by Socar’s president, Rovshan Najaf, during the roundtable, the statement said.

Socar viewed Pakistan as a natural long-term energy partner, pointing to the country’s market depth, rising energy demand, and reform momentum in the oil and gas sector, the statement quoted him as saying.

He added that Socar’s planned investment would build on its existing commercial footprint in Pakistan and expand cooperation across the energy value chain, it said.

He noted that the company was already in a commercial engagement in Pakistan through Socar Trading, providing Pakistan with flexible liquefied natural gas arrangements.

Comment by Riaz Haq on January 22, 2026 at 12:27pm

Nestle announces $60m additional investment in Pakistan, to expand operations in country

https://www.dawn.com/news/1968435

Nestle on Thursday announced that it would invest an additional $60 million in Pakistan and would also “undertake a robust expansion of its operations in the country”.

The development came as Finance Minister Muhammad Aurangzeb met Remy Ejel, the executive vice president and chief executive officer for Asia, Oceania, and Africa at Nestle, on the sidelines of the World Economic Forum (WEF) in Davos, according to a statement issued by the finance ministry.

https://x.com/kschehzad/status/2014290099211751513?s=20

The ministry said Aurangzeb chaired a high-level business roundtable on the sidelines of the WEF, bringing together chief executive officers and senior leaders of leading global corporations to discuss Pakistan’s reform trajectory, investment climate, and long-term growth potential.

“The roundtable formed part of the government of Pakistan’s ongoing engagement with multinational investors to promote policy predictability, economic formalisation, and sustainable, export-oriented growth,” it said.


“A major highlight of the discussion was the announcement by Ejel … of an additional investment of $60 million in Pakistan. Ejel stated that Nestle will undertake a robust expansion of its operations in the country, reaffirming its long-term commitment to Pakistan,” the statement said.

“He further announced that Nestle intends to use Pakistan as a regional manufacturing and export hub, exporting products to 26 countries from Pakistan. Expressing strong confidence in Pakistan’s economic outlook, Ejel foresaw robust growth in Nestle’s business in Pakistan in the coming years,” the statement said.

According to the finance ministry, the announcement builds on the company’s recent engagement with the minister in Islamabad, where the company had “outlined its strategy centered on localisation, advanced manufacturing, sustainability, and agricultural transformation”.

The statement further said that Ejal noted that Pakistan’s demographic profile, growing nutrition needs, and underpenetrated value-added food segments closely mirrored successful growth trajectories seen in Southeast Asia.

Meanwhile, Aurangzeb welcomed the announcement and described it as a “strong vote of confidence in Pakistan’s economic reforms and formalisation drive”.

“He reaffirmed the government’s commitment to strengthening the tax ecosystem, ensuring policy consistency, and facilitating responsible long-term investment through continued engagement with the private sector, including via the Tax Policy Office established within the Finance Division,” the statement said.

The minister also emphasised that Pakistan offered compelling opportunities in affordable nutrition, climate-resilient dairy, localised sourcing, and export-oriented manufacturing, and reiterated the government’s resolve to position Pakistan as a competitive base for regional production and global value chains.

Azerbaijan’s Socar signals investment in Pakistan’s oil and gas sector
A separate handout by the ministry said that following the high-level business roundtable chaired by Aurangzeb, the State Oil Company of the Republic of Azerbaijan (Socar) announced that it was set to finalise its investment in Pakistan’s oil and gas sector in February.

https://x.com/Financegovpk/status/2014294512278048786?s=20

The announcement was made by Socar’s president, Rovshan Najaf, during the roundtable, the statement said.

Socar viewed Pakistan as a natural long-term energy partner, pointing to the country’s market depth, rising energy demand, and reform momentum in the oil and gas sector, the statement quoted him as saying.

He added that Socar’s planned investment would build on its existing commercial footprint in Pakistan and expand cooperation across the energy value chain, it said.

He noted that the company was already in a commercial engagement in Pakistan through Socar Trading, providing Pakistan with flexible liquefied natural gas arrangements.

Comment by Riaz Haq on January 23, 2026 at 9:34am

Raqami Bank to Launch in Pakistan With $100m Investment Plan

https://www.bloomberg.com/news/articles/2026-01-22/raqami-bank-set-...


Pakistani financial firm Raqami Islamic Digital Bank plans to invest $100 million over the next five years as it gears up to start operations next month.

The Karachi-based lender, which is backed by the Kuwait Investment Authority sovereign wealth fund, has completed its pilot phase and will start commercial operations in February, according to Chief Executive Officer Umair Aijaz. The digital bank aims to attract at least a million customers within three years with a focus on small commercial lending.

“We are very excited to explore this opportunity of a digital bank in the small- and medium-sized enterprise space,” Aijaz said in an interview in Karachi Wednesday. “Globally, it has already picked up with a lot of traction.”

Pakistan is seeing a new wave in its financial sector after the central bank granted licenses to five new digital banks in 2023. The liberalization drive pits lenders with overseas backing, such as Telenor ASA’s Easy Paisa and the United Arab Emirates’ Mashreqbank PSC, which has already started operations, against local lenders Hugo Bank and Buraq Bank Pakistan. The lenders will initially operate under certain limitations but will be eligible to upgrade to a fully fledged digital bank license in three years that will allow them to do corporate banking.

Raqami intends to invest most of the planned $100 million in people, technology and information security. It has already spent 8 billion rupees ($28.6 million) to bring it to the launch phase. The bank will focus on lending to small- and medium-sized enterprises, independent entrepreneurs and others segments that find it difficult to get loans, said Aijaz. The bank plans to break even in four years.

Kuwait’s sovereign wealth fund owns a stake in one of Pakistan’s largest lenders, Meezan Bank Ltd. and Raqami through Pakistan Kuwait Investment Co.

Comment by Riaz Haq on January 23, 2026 at 9:41am

73% of foreign firms in Pakistan see it as a viable investment destination — survey

OICCI survey highlights improved investor optimism since 2023, when it stood at 61%
Regulatory unpredictability, high costs continue to keep foreign investors cautious

https://www.arabnews.com/node/2630395/pakistan

ISLAMABAD: Seventy-three percent of overseas investors operating in Pakistan now recommend the country as a viable destination for direct investment, up from 61% in 2023, according to a survey of more than 200 multinational companies released on Friday, signaling a measurable improvement in investor sentiment following Pakistan’s 2022–23 foreign exchange crisis.

The 2025 Perception and Investment Survey, conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI), which represents multinational firms in the country, found that improving macroeconomic indicators and recent policy reforms have begun to restore confidence, though investors remain cautious about regulatory unpredictability and rising business costs.

“The 2025 Perception and Investment Survey ... provides a cautiously optimistic snapshot of investor sentiment in

Pakistan,” the report said, noting that “improvements in macroeconomic indicators and recent policy reform initiatives have begun to rebuild confidence among foreign investors.”

The survey pointed to relative exchange-rate stability after a period of steep rupee depreciation, alongside credit rating upgrades by international agencies.

“73% of OICCI members now recommend Pakistan as a viable FDI destination, compared to 61 percent two years earlier,” it added.

Despite the improved macro picture, the survey warned that structural and regulatory challenges continue to weigh on investment decisions.

“The broader regulatory landscape remains complex and unpredictable,” it said, highlighting delays in tax refunds, inconsistent enforcement and weak coordination between federal and provincial authorities.

Foreign direct investment, while showing some positive movement, “remains concentrated in cautious brackets,” with most investors opting for modest commitments despite a decline in the proportion of firms planning no future investment.

Rising costs were a major concern, with nearly all respondents reporting increases in energy prices, wages and raw material costs. Political instability, sudden regulatory changes and an unclear fiscal roadmap were listed among the top investor apprehensions.

The survey warned that despite the positive outlook among multinationals operating in Pakistan, international perception of the country has improved only marginally, adding that “negative global coverage continues to influence investment decisions significantly,” and underscoring the need for a more proactive international communication strategy.

Comment

• ‹ Previous
• 1
• 2
• Next ›
• Page