Wafi Energy Pakistan Limited (WEPL) reappointed Ghassan Al Almoudi as Chairperson and Zubair Shaikh as CEO for three-year terms. Profit after tax rose 148% to Rs2.16bn, per its PSX notice.
HeadlinesDefence Minister Khawaja Asif told the National Assembly Pakistan is moving from insolvency to stability and may grow 6–7% in 1–2 years, urging parties to unite on security and governance.
HeadlinesMuhammad Aurangzeb met UK Parliamentary Under-Secretary Hamish Falconer to discuss Pakistan’s economic reform programme, Budget 2026-27 priorities, macro outlook, and expanded UK-Pak cooperation amid regional stability efforts.
HeadlinesPrime Minister Shehbaz Sharif orders early completion of a 100MW solar project in Gilgit-Baltistan, demanding independent third-party validation. The move aims to expand solar power and improve electricity supply across the region.
HeadlinesPakistan’s FY27 budget faced sharp Senate scrutiny as lawmakers warned debt servicing now consumes about 42.8% of spending. They cited Rs97 trillion public debt, SOE losses, and calls for tax and fiscal reforms.
HeadlinesThe government withheld the fiscal cost of its tax relief package from lawmakers, citing IMF negotiations. A committee estimates the impact at about Rs360 billion, including property and salaried tax concessions.
HeadlinesThe government and SBP expanded the Prime Minister’s Apna Ghar Programme, bringing Overseas Pakistanis with NICOP/POC cards into subsidised first-home financing, while speeding processing and widening lending channels.
HeadlinesService Long March Tyres (SLM) debuted on the PSX with the shares hitting the 10% upper circuit, helping Servis Group’s market value top $1 billion. The listed firm plans a $120M passenger tyre line by Dec 2027.
World Business NewsSpaceX shares surged more than 20% in their Nasdaq debut, pushing its valuation past $2 trillion after a record $75 billion IPO. Markets watch demand for the next mega-listings and potential Nasdaq 100 inclusion.
HeadlinesIn Pakistan’s National Assembly budget debate, Information Minister Attaullah Tarar defended the plan as a reform-led relief budget, citing Rs800bn recoveries and expanded tax breaks for the salaried class amid opposition concerns over inflation and revenue targets.
HeadlinesPunjab’s excise and taxation department struggles to meet its FY2025-26 property tax target despite revised valuations and enforcement. Officials seal 362 properties and recover Rs9.3m, with Zone-IV leading as staff remain on recovery duty until June 30.
HeadlinesThe Cabinet Committee on Privatisation reviewed progress on the steps needed for the first closing of Pakistan International Airlines’ divestment and made decisions to move the sale forward.