MH Insights

Executive Summary This briefing synthesizes key economic, corporate, and market developments as of December 24, 2025. In Pakistan, the government has finalized the landmark privatization of Pakistan International Airlines (PIA), selling a 75% stake to the Arif Habib consortium for Rs135 billion. This move is complemented by significant policy initiatives aimed at modernizing the economy, including the approval of the country's largest-ever spectrum auction to facilitate a 5G rollout and the launch of a cloud support program for tech startups. The domestic energy sector received a major boost with Pakistan Petroleum Limited (PPL) announcing a groundbreaking unconventional gas discovery in Sindh, signaling potential for increased energy self-sufficiency. Globally, markets are exhibiting a buoyant, risk-on sentiment driven by expectations of Federal Reserve rate cuts and strong corporate performance. European shares reached a new record high, largely powered by pharmaceutical giant No...

Executive Summary This briefing synthesizes critical developments across Pakistan's economic landscape, regulatory environment, and financial markets as of December 23, 2025. The nation's cotton and textile sector is navigating an unprecedented crisis, marked by widespread mill closures due to prohibitive costs and competition from cheap imports. Concurrently, the government is advancing its privatization agenda with a fresh bidding process for Pakistan International Airlines (PIA) scheduled. In the regulatory sphere, significant updates to Pakistan's tax code for 2026 are highlighted, establishing new requirements for advance tax payments, inter-regional tax recovery, and liabilities for residents departing the country. The energy sector is also at a pivotal juncture, with proposed regulations for solar prosumers sparking concern over the future of renewable energy adoption. Financial markets exhibit a mixed but telling picture. The Pakistan Stock Exchange (PSX) shows sign...

This briefing synthesizes critical developments across Pakistan's economic, regulatory, and corporate landscapes as of December 22, 2025. The day is marked by a bullish equity market, significant regulatory clarifications from the Federal Board of Revenue (FBR) for the upcoming tax year, and major strategic initiatives by leading corporations. Key takeaways include the Pakistan Stock Exchange reaching all-time highs, driven by an unexpected policy rate cut by the State Bank of Pakistan (SBP) and improving foreign exchange reserves. Concurrently, the FBR has detailed stringent enforcement and recovery mechanisms for Tax Year 2026, outlining the personal liability of liquidators, the process for third-party fund recovery, and severe penalties for defaulters, including property seizure and arrest. Sectoral performance shows a stark contrast, with the automotive industry demonstrating a robust recovery evidenced by a 92% year-on-year increase in tax collection for November 2025, while ...