Lalpir Power (PSX:LPL) terminated its agreement with the Pakistan government in October 2024 and plans to enter the electricity market (CTBCM) to sell power as a merchant plant. With Rs. 9,774 million in surplus funds, it aims to explore new business opportunities, subject to board and shareholder approval.

TLP Properties site being developed near Korangi Creek, encountered a pocket of underground gas that as per initial investigations will dissipate if allowed to burn.

PSX Strongly Rebounds

The Pakistan Stock Exchange (PSX) reacted positively to the conclusion of the IMF staff-level agreement and has now recovered a substantial part of the losses sustained on Monday. Today, out of the 1,139-point gain in the KSE-100 Index, around 800 points were contributed by UBL, OGDC, PPL, and Meezan Bank.

IMF Pakistan Staff Level Agreement

The IMF has reached a staff-level agreement with Pakistan for the first review of its 37-month Extended Fund Facility (EFF) and a new 28-month Resilience and Sustainability Facility (RSF), granting a total of $1.3 billion. The agreement, following discussions in February–March 2025 in Karachi and Islamabad, is subject to IMF Executive Board approval. If approved, Pakistan will receive $1 billion under the EFF, increasing total disbursements to $2 billion.

Packages Ltd (PSX: PKGS) Reports Financial Results for Year Ending December 2024. The company announced a profit after tax of Rs. 1,912 million (Earnings Per Share of Rs. 20.7), representing a decline of 32% compared to the previous year. 

Service Industries (PSX: SRVI) Reports Financial Results for Year Ending December 2024. The company announced a profit after tax of Rs. 324 million (Earnings Per Share of Rs. 6.9), representing a significant decline of 76% compared to the previous year. 

Pak Electron (PAEL) announced its annual financial results for year ending Dec 2024. It posted a EPS of Rs 2.72 (last Year Rs 1.5). No cash payout. Price closed at Rs 45.9. Last week the price had gained 13%.

 A Snapshot of Exchange Traded Funds at PSX

Today, the KSE100 Index closed at 116,440, losing 2,003 points (-1.7%) after reaching an all-time high last week. The market faced pressure amid rollover week and upcoming Eid holidays next week.

Systems Ltd. Annual Results, announces Stock Split

Systems Limited (PSX:SYS) reported its financial results for the year ending December 2024.