psx retreats profittaking
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PSX retreats as profit-taking, oil prices hit sent…

The Pakistan Stock Exchange (PSX) came under pressure on Friday as investors opted to book profits after the market’s recent gains.

The benchmark KSE-100 Index fell sharply during early trading, reflecting cautious investor sentiment amid rising global oil prices and uncertainty over developments surrounding the Strait of Hormuz.

The index dropped 771.05 points, or 0.42%, to 181,005.54 by 9:39am. Selling was reported across several major sectors, putting pressure on the overall market.

By noon, the KSE-100 had recovered some of its losses and was trading at 181,326.54 points, down 450.05 points, or 0.25%, from Thursday’s close of 181,776.59.

During the session, the index moved between an intraday high of 181,647.27 and a low of 180,620.08 points.

Trading activity remained moderate, with around 146.05 million shares changing hands. The total value of traded shares stood at approximately Rs10.06 billion.

Selling was visible in several heavyweight sectors, including automobile assemblers, cement companies, commercial banks, fertiliser firms, oil and gas exploration companies and oil marketing companies.

Market sentiment was also affected by the continued rise in international crude prices. Investors remained cautious over possible disruptions to energy supplies amid tensions surrounding the Strait of Hormuz.

Analysts attributed the decline largely to profit-taking following the market’s recent strong performance. Investors appeared reluctant to make fresh aggressive positions while global oil prices and geopolitical risks remained elevated.

Despite Friday’s decline, the KSE-100 remained above the 181,000-point level, indicating that the broader market continued to retain much of its recent gains.

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    Imran’s sister allowed to meet him at Adiala

    Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan’s sister Noreen Niazi was allowed to proceed to Adiala Jail on Tuesday to meet him after the Supreme Court directed authorities to facilitate family meetings. Noreen, along with Imran’s sisters Aleema Khan and Dr Uzma Khanum, reached the Dahgal checkpoint on the road leading to the prison. Police initially stopped all three women but later allowed Noreen to continue towards the jail. The development came shortly after a three-member Supreme Court bench ordered weekly meetings between Imran and his family. The court was hearing petitions concerning his access to relatives and personal physicians, as well as his medical condition. Noreen told reporters before leaving for the prison that she would inform Imran about the Supreme Court’s decision and the efforts made by his supporters. She did not respond when asked whether she would speak to the media after the meeting. Separately, Bushra Bibi’s daughter and sister-in-law were also permitted to meet her at Adiala Jail. The meeting was attended by Musarrat Khawar Maneka and Mehrunnisa, according to jail officials. The Supreme Court’s decision followed medical reports raising concerns about Imran’s fluctuating blood pressure, anxiety and other symptoms. The court said family access should not be treated as a favour and directed authorities to facilitate regular meetings. The court also ordered Imran’s transfer to Shifa International Hospital for treatment. A medical board comprising an eye specialist, general physician and cardiologist will examine him, while his personal physician Dr Faisal Sultan will also be given access. His sister Dr Uzma is to be associated with the medical board. PTI representatives have agreed to comply with the court’s condition that political activity and media statements should not be conducted after meetings with Imran. Speaking at the Dahgal checkpoint, Aleema Khan welcomed the court’s decision and said the family had been demanding Imran’s hospital treatment for months. She also confirmed that Noreen had been allowed to meet him. Aleema rejected allegations that the family was using Imran’s health for political purposes. She said they were raising concerns as his sisters and seeking what they considered to be his legal rights. She further argued that Bushra Bibi should also have received similar relief. According to Aleema, the family had already given its commitment before the Supreme Court that it would not gather outside the prison or hospital and address the media following meetings. Imran’s spokesperson Niazullah Khan Niazi said the PTI founder had a right to meet his family regularly. He welcomed the Supreme Court’s directions and said the party would fully comply with the restrictions imposed by the court. The Supreme Court also directed authorities to arrange telephone communication between Imran and his children and ordered that his medical records remain confidential. The latest medical report submitted to the court stated that Imran had experienced fluctuating blood pressure, palpitations, headaches, restlessness and anxiety. A cardiologist who examined him earlier this month recommended measures to reduce stress, including increased family interaction. A four-member medical board later recorded his blood pressure at 140/80mmHg and recommended walking, relaxation and more frequent interaction with his immediate family and wife. The report said Imran had undergone dozens of medical examinations since his imprisonment and was being monitored regularly by jail medical staff. It also stated that his ECG was normal and that his eyesight had improved following treatment. PTI has questioned the adequacy of the medical reports and continued to demand examinations by Imran’s personal physicians and an independent medical board. The government, however, has rejected allegations that Imran is being denied medical treatment. Government officials have maintained that he is receiving healthcare from qualified specialists and that prison meetings are being conducted according to court orders and applicable law. Imran and Bushra Bibi remain incarcerated at Adiala Jail. The former prime minister has been in custody since August 2023 and is also facing several legal cases.

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    ‘I will not apologize’: Maulana Fazlur…

    A political controversy surrounding Jamiat Ulema-e-Islam (F) chief Maulana Fazlur Rehman has intensified after the veteran politician refused to apologize for remarks he made earlier this month regarding security issues and the role of state institutions. The comments have drawn criticism from government officials and prompted legal proceedings. Addressing lawyers affiliated with his party on Sunday, Maulana Fazlur Rehman stated that he would not withdraw or apologize for his remarks. Instead, he argued that those who, in his view, launched a propaganda campaign against him should offer an apology. The controversy stems from a speech delivered during a party rally in Kasur, where the JUI-F leader spoke about the deteriorating security situation in Khyber Pakhtunkhwa and Balochistan. During the address, he questioned calls for political workers to take up arms against militant groups, saying he would not form a private force or militia. In the same speech, Maulana Fazlur Rehman also criticized the involvement of individuals in politics while serving in uniform, suggesting that anyone wishing to participate in politics should first leave official service and contest elections as civilians. The remarks quickly became the subject of nationwide political debate. The speech also led to legal action. On July 15, a local court in Gujranwala issued a notice to the National Cyber Crime Investigation Agency (NCCIA) in response to a petition filed over the remarks. The court has sought a reply from the agency by August 17 as the matter proceeds through legal channels. Senior members of the federal government strongly criticized the JUI-F chief’s comments. Defence Minister Khawaja Asif said linking the sacrifices of Pakistan’s armed forces to their salaries was unfair and disrespectful to military personnel, particularly the families of fallen soldiers. He maintained that while political leaders have the right to criticize policies or procedures, they should avoid statements that undermine the sacrifices of security forces. The controversy has sparked wider debate across Pakistan’s political landscape, with supporters arguing that Maulana Fazlur Rehman was expressing a political opinion on national security, while critics believe his remarks crossed acceptable boundaries. As political reactions continue, the legal process is expected to determine whether any further action will be taken. The issue remains a prominent topic in national politics, highlighting ongoing tensions between opposition leaders and the government over security, governance, and political accountability.

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    Naqvi: ‘Cockroach’ youth can overturn …

    Interior Minister Mohsin Naqvi has called for the creation of new administrative units and provinces, saying Pakistan’s current governance system has failed and requires fundamental reforms to meet the country’s future needs. Speaking at Pakistan’s first Economic Summit in Islamabad, Naqvi said the existing administrative structure could no longer effectively address the country’s growing challenges. He stressed that establishing new administrative units was essential for improving governance and ensuring sustainable development. “The system we are living under has collapsed,” he said. “New administrative units or provinces are the only way forward.” Naqvi said Pakistan would continue facing the same problems even a decade from now unless major structural reforms were introduced. He urged policymakers to focus on fixing the country’s basic governance framework instead of relying on temporary solutions. The interior minister also highlighted the concerns of Pakistan’s youth. He said young people are no longer satisfied with receiving laptops, scholarships or financial assistance alone. Instead, they want employment opportunities based on merit and a transparent system that guarantees fairness. He warned that growing frustration among young people should not be ignored. Referring to the younger generation, he said if they unite, they could bring significant political and social change. Naqvi also pointed to Pakistan’s financial challenges, saying the country continues to rely heavily on borrowing while its debt burden keeps increasing. He argued that meaningful economic improvement would remain difficult unless the overall governance system was reset. He praised Prime Minister Shehbaz Sharif’s commitment to work, saying the prime minister spends long hours addressing national issues. However, he added that even working 18 hours a day would not be enough if the country’s underlying system remained unchanged. The interior minister said political parties must set aside their differences and work together to introduce reforms. He urged all major stakeholders, including the government and opposition, to sit together and develop a long-term national strategy. Later, while speaking informally with journalists, Naqvi said the country’s institutions and political leadership must improve the system if Pakistan is to achieve lasting progress. He said the efforts of the military leadership alone would not be sufficient without governance reforms. He also said all political parties, including the Pakistan Tehreek-e-Insaf (PTI), should participate in efforts to improve the country’s governance structure. Responding to a question about the PTI founder, Naqvi said the matter would be decided by the courts. He also dismissed speculation about becoming foreign minister, saying he would continue serving as interior minister.

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    NAB clarifies Rs500 million jurisdiction threshold

    ISLAMABAD: The National Accountability Bureau (NAB) has internally clarified that inflation-based adjustments to the value of liabilities cannot be used retrospectively to bring older, lower-value corruption cases under its jurisdiction. The clarification follows the enforcement of the National Accountability (Amendment) Act 2026 on March 5. NAB has issued internal guidance for prosecutors and investigators to ensure a uniform legal position on the revised Rs500 million threshold. Under the amended law, an offence falls within NAB’s jurisdiction when it involves corruption or misconduct involving at least Rs500 million. The law also links the financial threshold to annual inflation indicators issued by the Pakistan Bureau of Statistics, with the adjustment taking effect from July 1, 2026. However, NAB’s internal interpretation distinguishes between the statutory jurisdictional threshold and the inflation-adjusted value of liabilities. The Rs500 million figure remains the basic test for determining jurisdiction. Inflation adjustment is applied only after the actual liability involved in a case has been finally determined. The guidance identifies three situations based on when the alleged offence occurred. For offences committed before July 2022, the original amount involved will be assessed according to the year in which the offence took place. No inflation adjustment will be applied retrospectively. If the final liability is Rs500 million or more, NAB will retain jurisdiction. If it is below Rs500 million, the case will fall outside NAB’s jurisdiction and may be transferred to the ordinary courts. For offences committed after July 2022, the Rs500 million threshold will initially determine NAB’s jurisdiction. Once an inquiry or investigation establishes the final amount involved, the relevant inflation index for the year in which the case reaches its final stage will be applied if the original liability is at least Rs500 million. The final reference will therefore contain both the original liability and its inflation-adjusted value. If the original liability is below Rs500 million, no inflation adjustment will be made and NAB’s jurisdiction will cease. The third category concerns continuing offences that began before July 2022 but continued after that date. Such cases will be treated in the same manner as offences committed after July 2022. The guidance further states that once the original liability has been finally established and the inflation-adjusted amount has been calculated, the resulting figure will be considered final. It will not be repeatedly revised on the basis of inflation increases in subsequent years. According to the internal legal position, linking the financial threshold to inflation was intended to keep the threshold realistic and relevant over time and prevent inflation from reducing its practical value. NAB has also clarified that the amendment was not intended to retrospectively expand the bureau’s jurisdiction or disadvantage accused persons. The 2026 amendments made another significant change by expanding provisions concerning the transfer of cases falling outside NAB’s jurisdiction. The relevant provision now extends to pending appeals as well, whereas the earlier framework was primarily limited to inquiries, investigations and trials.

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    Khanewal farmers protest delay in lease letters

      KHANEWAL: Eleven farmers selected under Punjab Chief Minister Maryam Nawaz Sharif’s “Apna Khet, Apna Rozgar” initiative have protested over the delay in receiving lease letters for approximately 950 kanals of agricultural land in Chak 63/10-R. The farmers allege that the transfer process is being delayed because of the influence of an influential local figure who, they claim, is supporting people occupying the land. The affected farmers recently held a demonstration outside the Revenue Department office at the District Complex in Khanewal. They demanded that the authorities issue their lease documents immediately and complete the process of handing over the land allotted to them through the government’s official balloting process. According to the protesting farmers, nearly 950 kanals of agricultural land in Chak 63/10-R was designated for lease to 11 deserving applicants who were selected through a formal draw under the provincial government’s scheme. However, they claimed that the land has remained in the possession of alleged illegal occupants for almost 40 years. The farmers said the occupants had earlier approached the Lahore High Court and obtained a stay order regarding the disputed property. They claimed that the relevant bench of the Lahore High Court dismissed the stay order on August 3, 2026, which, according to them, removed a major legal hurdle in the way of implementing the government’s allotment decision. Despite the dismissal of the stay, the protesting farmers alleged that the Punjab Revenue Department and the Khanewal district administration had not yet issued the required lease letters. They further alleged that the individuals occupying the land had the support of an influential political figure in the area. The farmers claimed that political pressure was contributing to the delay and preventing the concerned departments from completing the formalities required for the transfer of the land. The applicants also pointed out that their names and allotment information are already available on the Punjab government’s official online portal for the “Apna Khet, Apna Rozgar”scheme. They questioned why the authorities had not issued the lease documents despite their successful selection through balloting and the reported dismissal of the court stay. The Additional Deputy Commissioner (Revenue), Khanewal, was contacted to obtain the administration’s position on the matter, including the delay in issuing the lease letters, the current legal status of the disputed land and the allegations of political interference. However, an official response from the ADCR was not available at the time of filing the report. The administration’s version will be included once an official response is received. The affected farmers have appealed to Chief Minister Maryam Nawaz Sharif, Deputy Commissioner Khanewal Dr Hina Arshad Commissioner Multan Aamir Karim and the Senior Member Board of Revenue Punjab to take immediate notice of the issue. They demanded that the lease letters be issued without further delay and that possession of the allotted land be handed over to the successful applicants according to the balloting results, government policy and applicable legal procedures. The protesters also urged the provincial government to ensure transparent implementation of the “Apna Khet, Apna Rozgar” scheme and prevent any political or external influence from affecting the rights of successful applicants.

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