Author: dailybalochistantimes.com

Islamabad: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) staged a recovery on Friday, gaining 546.13 points, a positive change of 0.31 percent, to close at 176,094.12 points against 175,547.98 points recorded in the previous trading session.

The ready market witnessed a trading volume of 880.951 million shares, compared to 711.201 million shares traded in the previous session, while the traded value slipped to Rs24.957 billion from Rs25.396 billion. Market capitalisation increased to Rs19.756 trillion from Rs19.718 trillion recorded a day earlier.

Out of 493 companies that traded in the ready market, 273 posted gains, 185 suffered losses, while 35 remained unchanged, reflecting a predominantly bullish trend across the market.

Trust Brokerage led the volume chart with 178.797 million shares, followed by Dadabhoy Cement with 81.741 million shares and Cnergyico PK with 50.457 million shares.

Among the top gainers, The Thal Industries Corporation Limited surged by Rs104.68 to close at Rs1,151.46, while Nestle Pakistan Limited advanced by Rs91.49 to settle at Rs7,913.37.

On the losing side, PIA Holding Company LimitedB declined by Rs372.50 to close at Rs17,627.50, while Khyber Textile Mills Limited fell by Rs74.65 to Rs2,002.81.

In the futures (DFC) market, turnover stood at 582.375 million shares with a traded value of Rs24.919 billion, compared with 382.309 million shares worth Rs17.732 billion in the previous session.

Of the 307 companies traded in the futures market, 136 advanced, 157 declined and 14 remained unchanged.

Islamabad: The Board of Directors of the Institute of Financial Markets of Pakistan (IFMP) has approved the relocation of the Institute’s head office to Islamabad as part of a major strategic transformation aimed at making IFMP the country’s premier institution for financial market education, continues professional training, and capacity building.

The Institute will, however, maintain a regional office in Karachi.

The Board unanimously elected Dr. Kabir Ahmed Sidhu, Chairman of the Securities and Exchange Commission of Pakistan (SECP), as Chairperson of the IFMP Board, while Mr. Muhammad Ali Farid Khawaja, Commissioner, Securities Market Division (SMD), SECP, joined the Board as SECP’s nominee member, said a release issued here on Friday.

The meeting was attended by Dr. Mubbashar Sadiq, Chief Executive Officer (CEO), IFMP; Mr. Jawad Hashmi, Chief Operating Officer (COO), Pakistan Stock Exchange (PSX); Mr. Shariq Jaffrani, Chief Financial Officer (CFO), Central Depository Company (CDC); Dr. Ahmed Junaid, Dean, Karachi School of Business and Leadership (KSBL); Mr. Shahrukh Usmani, Company Secretary, IFMP; and Mr. Ahmad Javed, Manager Finance, IFMP.

Addressing the meeting, Dr. Kabir Ahmed Sidhu said that with 64-67% of Pakistan’s population under 30, the country has immense potential to expand financial inclusion, retail investment, entrepreneurship, and employment. He said SECP has set a target of increasing Pakistan’s capital market investor base from around 500,000 to 2.5 million, emphasizing that financial literacy and skills development will be fundamental to achieving this objective.

He said IFMP will lead a nationwide financial literacy initiative by taking financial education to schools, universities, and professional communities across Pakistan. The Institute will equip youth and professionals with the knowledge and skills needed to participate in the formal financial sector, strengthen investor confidence, and impart professional courses to develop qualified human capital for the capital market and insurance industries.

Commissioner SECP Mr. Muhammad Ali Farid Khawaja said the Pakistan Stock Exchange must expand its reach across Pakistan, noting that a growing number of new investors are emerging from Punjab and other regions of the country. He said IFMP will significantly expand its mandate by introducing free online financial literacy courses, continuous professional development programmes, certification courses for capital market and insurance intermediaries, and specialized industry training to build a skilled financial services workforce.

The Board also placed on record its appreciation for the valuable contributions of outgoing SECP nominee directors Mr. Osman Syed and Dr. Yasir Mahmood, and acknowledged the dedicated leadership of Mr. Shoaib Javed Hussain during his tenure as Chairperson of the IFMP Board.

Islamabad: The Organisation of Islamic Cooperation (OIC) Standing Committee on Scientific and Technological Cooperation (COMSTECH), in collaboration with the Embassy of the Federal Republic of Somalia in federal capital, on Friday launched the second phase of the COMSTECH-Consortium of Excellence (CCoE) Somalia Programme to strengthen the capacity of Somali scientists, researchers and professionals through fully funded fellowships, research, and technical training.

Speaking at the launching ceremony held here at the OIC-COMSTECH Secretariat, Coordinator General OIC-COMSTECH Prof. Dr. Muhammad Iqbal Choudhary said human resource development remained one of COMSTECH’s highest priorities, stressing that sustainable development in the Muslim world depended on investment in education, scientific research, innovation and advanced technical skills.

He said the COMSTECH-CCoE Somalia Programme marked another significant milestone in COMSTECH’s efforts to empower Somali youth, researchers, scientists and professionals through quality education, specialized training and institutional collaboration.

He appreciated the cooperation of the Embassy of Somalia and member institutions of the COMSTECH Consortium of Excellence for supporting the initiative and expressed confidence that it would contribute significantly to Somalia’s socio-economic development and institutional capacity.

Somalia’s Ambassador to Pakistan, Sheikhnur Mohamed Hassan, thanked COMSTECH, the Government of Pakistan and member institutions of the COMSTECH Consortium of Excellence for their continued support to Somalia in higher education, science, technology and capacity building.

He said the fellowship programme would enable Somali scientists, researchers and professionals to acquire advanced knowledge and practical skills to strengthen the country’s academic, scientific and development sectors. He described the initiative as a reflection of the longstanding brotherly relations between Pakistan and Somalia and appreciated COMSTECH’s leadership in promoting scientific cooperation among OIC member states.

Under the second phase of the programme, 25 fully funded fellowships have been announced for Somali nationals currently living and working in Somalia. The fellowships are being offered by leading member institutions of the COMSTECH Consortium of Excellence in collaboration with the Association of Private Sector Universities of Pakistan (APSUP).

The programme includes three- and six-month research fellowships in STEM disciplines and public health, technical training in industrial settings, short courses in allied health sciences and nursing, and specialized training in Artificial Intelligence, Data Science, Geographic Information Systems (GIS), Cyber Security, Remote Sensing, Biotechnology, Digital Skills, Precision Agriculture, Food Processing and Agricultural Research.

It also promotes faculty exchanges, joint research supervision, curriculum development, laboratory support, institutional partnerships and academic collaboration between Pakistani and Somali universities.

The programme is open to Somali nationals pursuing or holding Master’s, PhD and postdoctoral qualifications, with the objective of equipping them with advanced knowledge, research expertise and practical skills to contribute to Somalia’s national development.

The capacity-building initiative will be jointly coordinated by COMSTECH and the Embassy of the Federal Republic of Somalia to ensure transparent application processing, selection and placement of candidates.

The ceremony was attended by vice chancellors and rectors of leading public and private universities, ambassadors of Sudan, Tajikistan, Yemen and Rwanda, senior officials of the Somali Embassy, representatives of partner institutions and senior officials of OIC-COMSTECH.

Islamabad: Federal Minister for Board of Investment, Qaiser Ahmed Sheikh on Friday emphasized the need for collective efforts to ensure rapid progress and prosperity for the people of Pakistan.

Speaking to a news channel program, the minister said that all political parties, including the opposition, have a shared responsibility to work together for the country’s development and to improve the living standards of the common people. He urged the opposition, particularly the Pakistan Tehreek-e-Insaf (PTI), to move beyond political differences and engage in constructive dialogue on the key challenges faced by the nation.

Commenting on the proposal for creating new provinces or administrative units, he said such reforms could strengthen governance, improve administrative efficiency, and enhance the delivery of public services across the country. He reiterated that national development required cooperation among all stakeholders and stressed the importance of prioritizing the public interest over political divisions.

In reply to a question, he said the government under the leadership and dynamic vision of the prime minister Shehbaz Sharif was working to increase foreign investment in the country.

Islamabad: Lahore Electric Supply Company (LESCO), Pakistan’s largest power distribution company, has saved the national exchequer more than Rs58 billion by reducing its financial gap from Rs79 billion to Rs21 billion over the past two years through aggressive loss reduction, improved recoveries and power sector reforms, setting a new national benchmark for performance, according to a statement issued by the Ministry of Energy (Power Division) on Thursday.

The company achieved a recovery rate of 101.05pc during the period, surpassing the 100pc benchmark set by the National Electric Power Regulatory Authority (NEPRA) for the first time.

Distribution losses declined from 15.8pc to 11.86pc, marking a four percentage point reduction , the largest two year loss reduction recorded by any electricity distribution company in the country’s history.

The achievement carries significant financial weight as LESCO, with an annual revenue base exceeding Rs1 trillion, generates an estimated Rs10bn improvement for every one percentage point reduction in losses.

The four point decline has therefore translated into one of the biggest efficiency gains ever recorded in Pakistan’s power distribution sector.

Federal Minister for Power Sardar Awais Ahmed Khan Leghari said LESCO’s performance demonstrated that sustained oversight, accountability and data driven management could deliver tangible results in the power sector.

The ministry said the minister had closely monitored loss and recovery trends across distribution companies, ensuring management teams remained focused on meeting targets and improving field level enforcement.

According to the statement, the turnaround was driven by the vision of Prime Minister Shehbaz Sharif and supported by reforms introduced by the Power Division, including digitisation of billing and recovery systems, stricter anti theft measures, network modernisation, continuous performance monitoring and customer focused initiatives.

The ministry said independent boards of directors and a policy of non interference in operational matters had enabled professional management to implement reforms without political pressure.

It added that LESCO’s performance offered a model for other distribution companies and strengthened efforts to curb circular debt while improving the financial sustainability of the power sector.