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Noman Ali and Sajid Khan Dominate as Pakistan Takes Control in Multan Test

Khashif Sarfraz
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Noman Ali and Sajid Khan Dominate as Pakistan Takes Control in Multan Test

Pakistan Tightens Grip on Multan Test Against West Indies

Noman Ali and Sajid Khan led a stunning spin assault on the second day of the opening Test in Multan, dismantling the West Indies’ batting lineup. The visitors were bowled out for just 137 runs in response to Pakistan’s first-innings total of 230, giving Pakistan a vital 93-run lead.

Spin Masterclass

  • Noman Ali claimed a brilliant 5-39, his seventh five-wicket haul in Tests.
  • Sajid Khan supported with 4-65, as the spinners ran riot.
  • The West Indies’ innings lasted just 25.2 overs, marking a rapid collapse after a solid start.

West Indies’ Collapse

The visitors began well with an opening stand of 67 between Muhammad Hurraira and Shan Masood. However, wickets fell quickly:

  • Jomel Warrican dismissed Hurraira (29) and Babar Azam (5), before running out Shan Masood (52), who had earlier struck two sixes and two fours.

Pakistan Extends Lead

By the close of play, Pakistan had built a commanding 202-run lead, reaching 109-3 in their second innings.

  • Kamran Ghulam (9*) and Saud Shakeel (2*) were at the crease when bad light stopped play, 25 minutes before the scheduled close.

What’s Next?

Pakistan looks to capitalize on their lead and set a challenging target for the West Indies on Day 3. With Noman and Sajid in form, the spinners could play a decisive role in the second innings as well. Stay tuned for updates as the Multan Test unfolds!

Aftab Khan: The Unsung Hero of Pakistan Cricket Coaching

Khashif Sarfraz
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Aftab Khan: The Unsung Hero of Pakistan Cricket Coaching

A Dedicated Coach Ready to Serve Pakistan Cricket

Aftab Khan, one of Pakistan’s most efficient and qualified cricket coaches, remains steadfast in his commitment to serving Pakistan cricket. Despite currently working with the Knight Riders in Houston, Aftab has urged the Pakistan Cricket Board (PCB) to recognize his abilities and engage him for more coaching assignments at both domestic and international levels.

A former under-19 player who represented Pakistan in 2000, Aftab has built a stellar reputation as a hardworking and diligent coach. Players and experts alike commend his efforts in transforming teams and delivering results, making him one of the most sought-after coaches in the country.

Rising Through the Ranks: Aftab’s Journey in Coaching

Hailing from Peshawar, Aftab began his coaching career with a bang. In 2023, he was hired as the fielding coach for Pakistan’s tour of Sri Lanka, where the team achieved a 2-0 victory in the Test series. His innovative coaching techniques and untiring efforts were widely appreciated.

Following the Sri Lanka tour, Aftab played a pivotal role in Pakistan’s campaigns during the Asia Cup, the T20 series against New Zealand, and the prestigious 50-over World Cup in India. Reflecting on the World Cup, Aftab remarked:

“The World Cup in India was an unforgettable experience. Competing with the top teams under immense pressure helped me grow both personally and professionally.”

In 2024, Aftab continued his impressive coaching journey, accompanying the Pakistan team on back-to-back tours to Ireland and England, followed by the much-anticipated T20 World Cup held in the United States and the West Indies.

Domestic Success: A Proven Track Record

Aftab has also showcased his coaching prowess at the domestic level. While coaching the Habib Bank Limited (HBL) team, he guided them to win both the one-day departmental tournament and the four-day tournament titles.

Reminiscing about his time with HBL, Aftab shared:

“HBL has always been close to my heart as it’s the team I played for during my First-Class career. Winning the thrilling day-night Quaid Trophy final against PIA in 2010-11 remains one of my most cherished memories.”

In 2020, the PCB appointed Aftab as the coach of the KP outfit, where he worked under the legendary Abdul Razzaq. Aftab’s tenure with KP was nothing short of remarkable, as the team clinched the National T20 title, the one-day cup, and became joint winners of the Quaid Trophy.

A Key Role in PSL

Aftab is also a vital part of the Peshawar Zalmi coaching staff in the Pakistan Super League (PSL). Speaking about his role, he said:

“Working with Javed Afridi and the Zalmi setup has been an incredible experience. I am excited for the tenth season of PSL and look forward to contributing to the team’s success.”

A Call for PCB’s Support

Aftab’s unwavering dedication to Pakistan cricket is evident in every aspect of his career. His successful stints, both domestically and internationally, highlight his capabilities as a coach.

However, despite his impressive track record, Aftab is awaiting further opportunities from the PCB.

“Challenges are the tonic that keeps me motivated as a coach,” Aftab stated. “I am thankful for the opportunities provided by the PCB, and I hope to serve Pakistan cricket again soon.”

The PCB would be wise to utilize Aftab Khan’s expertise consistently. His passion for Pakistan cricket and ability to deliver results make him an invaluable asset. Providing him with regular assignments will not only benefit Pakistan cricket but also ensure that Aftab remains committed to serving his homeland, rather than seeking opportunities abroad.

Shan Masood Supports Two-Tier Test System

Khashif Sarfraz
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Shan Masood Supports Two-Tier Test System

Pakistan Captain Advocates for Two-Tier Test System

Ahead of the first Test against the West Indies in Multan, Pakistan’s captain Shan Masood expressed his support for the proposed two-tier Test system, describing it as an exciting way to increase competition and create more opportunities for lower-ranked teams in the World Test Championship (WTC).

Masood emphasized the importance of a promotion and relegation system between tiers, which would ensure more Test matches for all teams and, ultimately, elevate the quality of the game globally.

Pakistan Aims for Strong Finish in WTC Cycle

As Pakistan prepares to face the West Indies, the team is determined to finish the current WTC cycle on a strong note. The two-match series, starting on Friday, is seen as an important opportunity to maintain momentum after their recent home success. Pakistan is currently ranked eighth in the 2023-25 WTC cycle but is eager to build on their 2-1 series win over England in October.

Captain Masood highlighted the significance of this series, hoping to continue their unbeaten run on home soil and push for a higher position in the standings.

West Indies Look to Turn Their Fortunes Around

The West Indies, also struggling in the WTC standings, are eager to turn their fortunes around. Ranked eighth in both previous WTC cycles, they are focused on starting the year strong. Captain Kraigg Brathwaite emphasized the importance of the upcoming series, noting, “This series is very important with two Tests left in this cycle… we want to start the year strong, and that is our focus.”

Brathwaite expressed confidence in his team’s ability to face Pakistan’s spin attack, led by Noman Ali and Sajid Khan, who combined to take 39 wickets against England. The West Indies’ experience with spin-friendly conditions in Bangladesh has given them confidence, and Brathwaite urged his players to be disciplined and brave in their approach.

Multan Test Conditions

In preparation for the series, Pakistan has made special preparations to manage the pitch conditions in Multan. After heavy rain in previous series, Pakistan used industrial fans and patio heaters to dry the pitch, a tactic they may use again if needed.

The second Test will also be held in Multan from January 25.

West Indies’ Practice Match and Injury Concerns

In a recent three-day practice match in Islamabad, the West Indies faced similar conditions, with Alick Athanaze scoring half-centuries in both innings and Amir Jangoo remaining unbeaten on 63.

The West Indies have deployed a three-pronged spin attack featuring Kevin Sinclair, Jomel Warrican, and Gudakesh Motie, but will be without their pace spearhead Kemar Roach, who is sidelined due to illness. Additionally, wicketkeeper-batter Joshua Da Silva was also left out of the squad.

Conclusion

As both teams prepare for this crucial series, the upcoming tests in Multan promise to be highly competitive. Pakistan looks to build on their recent success, while the West Indies aim to start the year on a positive note. The series will be crucial for both teams as they aim to finish the World Test Championship cycle strongly.

Pakistan Announces Preliminary Squad for ICC Champions Trophy 2025

Khashif Sarfraz
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Pakistan Announces Preliminary Squad for ICC Champions Trophy 2025

Over 20 Players Named in Initial Line-Up

Pakistan has unveiled its initial squad of over 20 players for the highly anticipated ICC Champions Trophy 2025. The preliminary list, submitted to the International Cricket Council (ICC) two days ago, includes several notable names and emerging talents.

One of the most exciting inclusions is opener Saim Ayub, a promising player who could bring fresh energy to Pakistan’s batting line-up.

Key Players in the Preliminary Squad

The squad features some of the biggest names in cricket, alongside emerging stars who may play a crucial role in Pakistan’s campaign:

  • Mohammad Rizwan (Captain)
  • Babar Azam
  • Tayyab Tahir
  • Irfan Khan Niazi
  • Sufyan Muqeem
  • Mohammad Hasnain
  • Abdullah Shafiq
  • Naseem Shah
  • Usman Khan
  • Shaheen Shah Afridi
  • Haris Rauf
  • Abrar Ahmed
  • Kamran Ghulam
  • Salman Ali Agha
  • Imam-ul-Haq
  • Fakhar Zaman
  • Hasibullah
  • Abbas Afridi

This diverse mix of players reflects the team’s strategy of combining experience with young talent.

Uncertain Inclusions

As Pakistan gears up to finalize the squad by 10th February, speculation surrounds the inclusion of certain players. Openers Abdullah Shafiq and Usman Khan are reportedly uncertain, with selectors likely to make adjustments based on current form and fitness.

Building Hopes for the Champions Trophy

The ICC Champions Trophy is a pivotal event for cricketing nations, and Pakistan’s selectors are leaving no stone unturned to field a competitive team. With seasoned players like Shaheen Afridi, Haris Rauf, and Babar Azam, coupled with emerging talent like Saim Ayub, Pakistan aims to make a strong impact in the tournament.

The final squad announcement is eagerly awaited by fans, as it will reveal the team’s strategy and approach for this global event.

Pakistan and Bangladesh Forge New Trade Ties After 12 Years

Khashif Sarfraz
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Pakistan and Bangladesh Forge New Trade Ties After 12 Years

Strengthening Bilateral Relations Through Trade

A Pakistani trade delegation, led by Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), visited Bangladesh after a 12-year gap. The historic visit aimed to strengthen bilateral economic ties and encourage mutual investments between the two nations.

High-Level Meetings to Boost Cooperation

During the visit, the delegation held discussions with Sheikh Bashiruddin, Bangladesh’s Minister for Commerce. Both sides underscored the importance of expanding trade and fostering investment opportunities.

Atif Ikram Sheikh remarked, “This marks the beginning of a new era, and Pakistan will stand by Bangladesh at every step.” The Commerce Minister of Bangladesh reaffirmed their commitment to prioritizing trade relations with Pakistan, signaling a mutual intent to deepen economic cooperation.

Visa Facilitation for Business Growth

The easing of visa policies was a significant focus of the talks. FPCCI Senior Vice President, Saqib Fyaz Magoo, welcomed Bangladesh’s decision to relax visa conditions for Pakistani nationals. He also urged the issuance of long-term visas for the Pakistani business community to encourage smoother collaboration.

In response, Bangladesh highlighted Pakistan’s reciprocal relaxation of visa restrictions for Bangladeshi nationals, further paving the way for enhanced mobility between the two countries.

Joint Efforts to Explore Trade Opportunities

Sheikh Bashiruddin stated, “We will work together to explore economic, industrial, and trade opportunities with Pakistan.” Both sides agreed to prioritize increasing mutual trade volumes and encouraging participation from Pakistani businesses in Bangladesh.

The meeting also witnessed the active participation of Syed Ahmed Maroof, Pakistan’s High Commissioner to Bangladesh, who reinforced Pakistan’s commitment to fostering stronger economic partnerships with its South Asian neighbor.

A Step Toward Regional Cooperation

This visit signifies a pivotal moment in regional trade dynamics, as Pakistan and Bangladesh look to rejuvenate their economic relationship after over a decade. The collaborative efforts are expected to unlock new opportunities for businesses and enhance trade connectivity in the region.

KSE-100 Starts the Week with a 1.13% Decline Amid Mixed Sector Performance

Khashif Sarfraz
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KSE-100 Starts the Week with a 1.13% Decline Amid Mixed Sector Performance

 

KSE-100 Index Update: January 6, 2025

The Pakistan Stock Exchange (PSX) began the new trading week on a negative note, with the KSE-100 Index falling 1.13% DoD.

  • Market Performance:
    • 27 shares advanced, while 70 shares declined.
    • Top contributors to index gains included:
      • HMB PA: +3.02%
      • AICL PA: +10.0%
      • MCB PA: +0.96%
    • Major drags on the index:
      • OGDC PA: -3.84%
      • PSO PA: -5.12%
      • FFC PA: -1.29%

World Bank’s USD 20 Billion Loan Package for Pakistan

The World Bank has announced plans to approve a USD 20 billion loan package for Pakistan as part of a 10-year strategy (2025–2035). Key highlights include:

  • Focus on addressing health, education, and climate resilience.
  • Aimed at long-term development, protecting projects from political instability.
  • The strategy ensures continuity despite expected changes in government during the period.

This development reflects a significant commitment to Pakistan’s sustainable growth, with an emphasis on resilience and infrastructure improvement.

Market Outlook

Despite Monday’s decline, the KSE-100 remains within its recent range. Technical support at 115.5k for January is expected to stabilize the market and potentially lead to an upside resumption.

Market participants will keep a close watch on sectoral developments and external factors, including World Bank funding and macroeconomic updates, which are likely to influence sentiment.

Stay tuned for further updates and trends from the trading floor!

Inflation Eases to 80-Month Low at 4.1% in December 2024

Khashif Sarfraz
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Inflation Eases to 80-Month Low at 4.1% in December 2024

 

CPI Hits Record Low in December 2024

Pakistan’s Consumer Price Index (CPI) dropped to an 80-month low of 4.1% YoY in December 2024, the lowest since April 2018 (3.96%). This marks a sharp decline from 29.7% in December 2023 and 4.9% in November 2024, signaling a major easing of inflationary pressures.

For the first half of FY25, average inflation stood at 7.22%, significantly lower than 28.8% in the same period last year. On a calendar-year basis, average inflation fell to 13.13% in 2024, compared to 30.92% in 2023.

Key Drivers of December Inflation

Year-on-Year Changes:

  • Primary contributors to the 4.1% YoY CPI increase:
    • Housing: +3.4%
    • Restaurants and Hotels: +7.9%
    • Household Equipment: +5.2%
    • Clothing and Footwear: +14.4%
    • Health: +13.3%
    • Education: +10.3%
    • Miscellaneous categories such as Recreation and Culture (+8.0%) and Communication (+12.2%).
  • Transport prices fell by 2.5%, while Food prices increased marginally by 0.3%.

Month-on-Month Changes:

  • Inflation rose by 0.1% MoM.
    • Food prices remained flat due to declining costs of chicken, pulses, onions, and vegetables.
    • Transport costs increased by 1.1% MoM due to higher domestic fuel prices.
    • The Housing Index dropped 0.8% MoM, driven by:
      • A 5.7% MoM drop in electricity prices.
      • The reduction in Fuel Cost Adjustment (FCA) to PKR 1.14/KWh and the Quarterly Tariff Adjustment (QTA) to PKR 0.2/KWh.

Core Inflation Trends

Core inflation eased to 9.1% YoY in December 2024, down from 9.8% in November 2024:

  • Urban Core Inflation: 8.1% YoY (down from 8.9% in November).
  • Rural Core Inflation: 10.7% YoY (down from 10.9% in November and 25.1% in December 2023).

On a month-on-month basis:

  • Urban areas saw a 0.2% MoM increase in core inflation.
  • Rural areas recorded a 0.6% MoM increase in core inflation.

Future Implications

The sharp decline in inflation offers relief for households and businesses, improving purchasing power and fostering a stable economic environment. However, rising transport costs and MoM core inflation increases warrant monitoring, as they may signal underlying pressures.

With a steep drop in average inflation for the first half of FY25, Pakistan’s economic outlook remains cautiously optimistic, supported by government efforts to stabilize energy tariffs and curb food price volatility.

The December 2024 inflation data underscores Pakistan’s success in taming inflationary pressures, marking a significant milestone in the country’s economic recovery.

Banking Sector Gains Clarity Amid New Tax Ordinance

Khashif Sarfraz
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Banking Sector Gains Clarity Amid New Tax Ordinance

Confidence and Clarity for Banks Amid Tax Policy Changes

Pakistan’s federal cabinet has introduced significant revisions to the banking sector’s tax structure through a newly approved ordinance. The changes include:

  1. Elimination of the ADR-related tax (10–16%) on income from government securities.
  2. Increase in the corporate tax rate for banks from 39% to 44% for the tax year ending December 31, 2024.

The Corporate Tax Hike: A Mixed Outcome

While removing the ADR tax alleviates pressure on banks, the corporate tax increase brings new challenges. Here’s what the updated tax policy entails:

  • Corporate tax rate:
    • 44% in 2024
    • Gradually reduced to 43% by 2026 and 42% by 2027
  • Sector-wide earnings impact:
    • CY24: Estimated 10% reduction in banking sector earnings.
    • CY25: 8% earnings reduction.
    • CY26: 6% earnings reduction.

The government expects to generate PKR 62–65 billion in additional revenue from banks in 2024, helping meet its tax collection targets.

Clarity Restored: A Positive Sign for Investors

The removal of the ADR-related tax has brought much-needed stability to the banking sector. Over the past two years, banks have faced uncertainty due to shifting tax policies and regulatory changes. This reform allows banks to focus on core operations rather than meeting ADR targets to avoid penalties.

Key benefits include:

  • Predictable earnings trajectories, giving investors confidence.
  • Enhanced flexibility in managing lending activities.

While higher corporate taxes will negatively affect earnings per share (EPS) in the short term, the sector is better positioned for sustained growth with greater clarity.

Return on Equity (ROE) Outlook

The revised tax structure has led to an adjustment in expectations for the sector’s return on equity (ROE):

  • Earlier projection: 20%
  • Revised projection: 18.8%

Although this represents a decline, the newfound clarity provides a strong foundation for long-term performance.

A Balanced Perspective on the Future

The banking sector’s immediate challenges are offset by a clearer regulatory environment and the government’s commitment to gradually reduce corporate tax rates. This combination creates room for cautious optimism.

With the elimination of ADR-related tax burdens, banks can refocus on growth-oriented strategies, enhancing their lending portfolios and strengthening their market positions.

While short-term profitability may dip, the sector is well-equipped to navigate these changes and capitalize on future opportunities.

Pakistani Rupee Marginally Declines Against US Dollar

Aarooj Manzoor
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Pakistani Rupee Marginally Declines Against US Dollar

Pakistani Rupee Registers Marginal Decline Against US Dollar

The Pakistani rupee decline by 0.04% against the US dollar on Wednesday in the inter-bank market. The currency closed at 277.96, a decline of Re0.12 compared to the previous day’s rate of 277.84, as reported by the State Bank of Pakistan (SBP).

In the open market, the rupee showed mixed trends, losing 6 paise for buying and 7 paise for selling, closing at 277.15 and 278.97, respectively.

Pakistani currency exchange rates

Globally, the US dollar steadied against major currencies as investors reacted to President-elect Donald Trump’s tariff pledges targeting the US’s largest trading partners: Canada, Mexico, and China. The greenback remained little changed against the Canadian dollar at C$1.4052 and showed slight recovery against the Mexican peso after hitting its highest levels since July 2022 in earlier sessions.

The US Dollar Index, which measures the currency against six major rivals, dipped slightly by 0.07%, standing at 106.83.

Oil Prices and Currency Parity

Oil prices, a significant factor influencing currency parity, rose modestly. Brent crude futures increased by 0.4% to $73.10 per barrel, while US West Texas Intermediate crude climbed to $69.03 per barrel. These movements come amidst discussions around a ceasefire between Israel and Hezbollah and an upcoming OPEC+ meeting, where a potential delay in oil output increases may be announced.

Key Exchange Rates on Wednesday

  • Inter-Bank Market:
    • Bid: Rs 277.96
    • Offer: Rs 278.16
  • Open Market:
    • USD: Buying at Rs 277.15, Selling at Rs 278.97
    • Euro: Buying at Rs 289.77, Selling at Rs 292.51
    • UAE Dirham: Buying at Rs 75.27, Selling at Rs 75.97
    • Saudi Riyal: Buying at Rs 73.52, Selling at Rs 74.18

Conclusion

The rupee’s marginal depreciation reflects a cautious market environment, both domestically and globally. As global economic events unfold, particularly those influenced by US policies and oil market dynamics, currency markets remain volatile, demanding close attention from investors and policymakers.

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