Second-Hand Home Sales Lead Thailand’s Real Estate Market Recovery

The Economic Coordination Committee (ECC) has approved a Rs4.188 billion compensation package for employees of the Pakistan Agricultural Storage and Services Corporation (PASSCO). The decision is part of the government’s plan to wind up PASSCO. The process is also linked to the disposal of the corporation’s wheat stocks. The government has set December 2026 as the deadline for completing the process. The ECC directed that the winding-up process must be independently reviewed. A third party will validate the process to ensure transparency and compliance with the approved plan. The committee also stressed the need to dispose of PASSCO’s wheat stocks as soon as possible. Officials said the early disposal of the stocks would help implement the employee compensation package on time. The Ministry of National Food Security and Research assured the ECC that the process would be completed by December. The government began work on the closure of PASSCO in 2025. The Prime Minister’s Office had directed the finance minister to oversee the process in consultation with the relevant ministry. A meeting chaired by the finance minister later decided that a severance package should be prepared for PASSCO employees. The package was designed along the lines of the voluntary separation scheme approved for employees of the Utility Stores Corporation. PASSCO’s Board of Directors subsequently approved the revised compensation package. The scheme covers regular employees as well as contractual and daily-wage workers. It includes severance compensation and several terminal benefits. These include leave encashment and a farewell grant. The package also provides maintenance support for widows and retired employees through PASSCO’s Benevolent Fund. The ECC had previously approved the winding up of PASSCO. It also approved the creation of a Special Purpose Vehicle called the Wheat Stock Management Company (WSMC) Public Limited. The federal cabinet later ratified the decision. The total cost of the employee package is estimated at Rs4.188 billion. Around Rs3.967 billion has been allocated for severance compensation and terminal benefits for PASSCO employees. Another Rs221 million has been set aside for maintenance grants. The amount will benefit 38 widows and 236 retired employees.

The Pakistan Stock Exchange started the week with a strong rally on Monday. The benchmark KSE-100 Index gained more than 5,000 points during intraday trading. The sharp rise came as investors welcomed the pause in fighting between the United States and Iran. The index opened with strong buying activity. By 9:50am, it had risen 4,501 points to reach 175,522.53 points. The previous close was 171,021.20 points. The upward movement continued during the morning session. By 10:30am, the index had gained 5,069 points and reached 176,090.08 points. The improved geopolitical situation boosted investor confidence. The United States and Iran have paused their military strikes. The development has raised hopes for renewed diplomatic efforts. Investors also expect the easing of tensions to support shipping activity through the Strait of Hormuz. The waterway is important for global energy supplies. Any prolonged disruption can push oil prices higher and increase pressure on economies that depend on imported fuel. The latest development also affected global oil markets. Crude prices fell sharply as investors reacted to the temporary halt in hostilities. Brent crude briefly dropped below $90 per barrel. It fell more than 7% at one stage during early trading. US West Texas Intermediate crude also declined. The fall in international oil prices could provide some relief to Pakistan’s economy. Pakistan spends a significant amount on energy imports. Lower oil prices can therefore help reduce pressure on the country’s import bill and external account. Market analysts said the improvement in geopolitical conditions could also influence the State Bank of Pakistan’s monetary policy decision. Awais Ashraf, director of research at AKD Securities, said investors were expecting the central bank to maintain the policy rate. The State Bank is also expected to assess developments in the Middle East. The impact of recent floods on Pakistan’s economy will also remain under consideration. Analysts said the continuing decline in inflation and a relatively comfortable external account could support monetary easing in the coming months. However, economic activity and money supply trends remain important factors for policymakers. The strong rally follows a difficult week for the PSX. The KSE-100 Index had fallen by around 2.7% last week. The index lost 4,782 points and closed at 171,021.20 points. Rising tensions between the United States and Iran had increased uncertainty in financial markets. Higher international oil prices also added pressure. Investors had remained cautious because of concerns that the conflict could expand across the region. Monday’s sharp recovery shows how quickly market sentiment can change when geopolitical risks decline. Despite the strong gains, analysts remain cautious about the outlook. Further developments between Washington and Tehran will remain important. Global oil prices will also influence investor sentiment. The State Bank’s monetary policy decision is another key factor for the market.

The Pakistan Stock Exchange (PSX) remained under pressure during Tuesday’s trading session as investors adopted a cautious approach. The benchmark KSE-100 Index opened on a weak note and stayed in negative territory during the first half of the session. By 1pm, the index had dropped 279.65 points, or 0.16%, to 177,982.68 points. It had closed at 178,262.33 points in the previous session. The market witnessed further pressure shortly after opening. At around 9:39am, the KSE-100 fell to 177,914.38 points, losing 347.95 points, or 0.20%. The index later recovered some of its early losses but remained below the previous close. Trading remained volatile during the session. The index reached an intraday high of 179,123 points and a low of 177,903.87 points. Despite the decline in the benchmark index, market activity remained relatively strong. Around 339.48 million shares were traded during the session. The total value of shares traded stood at approximately Rs19.71 billion. Investor sentiment remained subdued as market participants appeared cautious about taking fresh positions. Profit-taking also contributed to the pressure on the benchmark index. The partial recovery from the morning low indicated some buying interest at lower levels. However, it was not enough to push the index back into positive territory by midday. Investors continued to monitor market developments and broader economic indicators for direction. The afternoon session was expected to determine whether the index could recover its losses or close the day in negative territory.

Pakistan has renewed its commitment to strengthening relations with Belarus and Central Asian countries. Deputy Prime Minister and Foreign Minister Ishaq Dar held separate meetings with the foreign ministers of Belarus, Kazakhstan, Tajikistan and Uzbekistan in Cholpon-Ata, Kyrgyzstan. The meetings were held on the sidelines of the Shanghai Cooperation Organisation (SCO) Council of Foreign Ministers meeting.The discussions focused on bilateral relations, trade, investment, regional connectivity and security. Dar met Belarusian Foreign Minister Maxim Ryzhenkov and reviewed the progress of relations between the two countries.The two sides agreed to expand cooperation in several important areas. These include trade, investment, defence, agriculture, technology and workforce exchanges.They also discussed ways to strengthen economic ties and increase bilateral business activity. Pakistan and Belarus are also preparing for the next session of their Joint Ministerial Commission.The ninth session is scheduled to take place in Islamabad on August 11 and 12, 2026. The two countries are expected to use the meeting to explore new areas of cooperation.Dar and Ryzhenkov also discussed regional developments. The Belarusian foreign minister appreciated Pakistan’s diplomatic efforts to support dialogue and promote peace and stability in the region. Dar also met Kazakhstan’s Foreign Minister Yermek Kosherbayev.The two ministers reviewed the positive progress in relations between Pakistan and Kazakhstan. They agreed to accelerate the implementation of agreements reached during recent high-level exchanges.A key focus was the implementation of 37 memorandums of understanding signed during a high-level visit. The two countries also agreed to increase cooperation in trade, investment, transport, energy and regional connectivity. People-to-people contacts and cooperation at international forums were also discussed.Kosherbayev appreciated Pakistan’s efforts to support regional peace and diplomacy. He also invited Dar to visit Kazakhstan.The Pakistani foreign minister accepted the invitation and said the visit would take place at a mutually convenient time. In another meeting, Dar held talks with Tajik Foreign Minister Sirojiddin Muhriddin.Both sides described Pakistan-Tajikistan relations as close and longstanding. They agreed to further expand cooperation in several sectors.These include trade, investment, energy, connectivity and culture. The two ministers also highlighted the importance of stronger people-to-people contacts.They agreed that regular high-level exchanges could help deepen bilateral relations. The two sides also discussed regional and global developments.They stressed the importance of cooperation through international and multilateral platforms. Tajikistan also expressed support for Pakistan’s efforts to promote peace and the peaceful resolution of regional issues.Dar also met Uzbek Foreign Minister Bakhtiyor Saidov. The two ministers reaffirmed the importance of the Pakistan-Uzbekistan strategic partnership. They reviewed progress in bilateral cooperation.Trade, investment, connectivity, energy, culture and people-to-people relations were among the key areas discussed. Dar and Saidov also stressed the importance of stronger links between the business communities of both countries. They said closer business engagement could help increase trade and investment.The two ministers also discussed the implementation of understandings reached during Uzbek President Shavkat Mirziyoyev’s recent visit to Pakistan. They agreed that existing agreements should be converted into practical projects through timely implementation. Regional and global developments were also discussed.Saidov appreciated Pakistan’s diplomatic efforts to promote regional peace and stability. Both sides expressed hope that dialogue and diplomacy would continue to support lasting peace in the region. Dar’s meetings took place during his visit to Kyrgyzstan for the SCO Council of Foreign Ministers meeting. Pakistan used the diplomatic engagement to highlight its longstanding relations with SCO member states. Islamabad also reaffirmed its readiness to assume the SCO chairmanship for 2026–27.Pakistan has expressed its intention to promote greater cooperation among member states. The focus will include socioeconomic development, regional connectivity and mutual economic benefits. Dar also attended an informal dinner hosted by Kyrgyz Foreign Minister Zheenbek Kulubaev for visiting dignitaries. During the visit, Dar met Kyrgyz President Sadyr Zhaparov and conveyed greetings from Pakistan’s leadership.He expressed Islamabad’s desire to strengthen cooperation with Kyrgyzstan across different sectors. Dar later led Pakistan’s delegation at the SCO ministerial meeting. In his national statement, he reaffirmed Pakistan’s commitment to the SCO Charter and the principles of the Shanghai Spirit.These principles include mutual trust, mutual respect, shared prosperity and development. Pakistan has also invited SCO member states to attend the SCO Council of Heads of State summit in Pakistan next year.The government says Islamabad’s upcoming SCO leadership will provide an opportunity to strengthen regional cooperation and deepen economic and diplomatic ties with member states.