*📢 NEWS UPDATE – Wednesday, June 18, 2025* *Macroeconomic & Trade Developments:* • PM’s China Visit Expected in August: Minister and Chinese envoy discuss strategic economic cooperation – Positive 🔗 Read more • Current Account Posts $1.8bn Surplus (Jul-May FY25) – Positive 🔗 Read more • Pakistan & US Eye Bilateral Trade Deal Through Constructive Engagement – Positive 🔗 The News 🔗 Profit *Industry & Production:* • Large-Scale Manufacturing (LSMI) Output Rises 2.29% YoY in April – Positive 🔗 Read more • Revised Penalty Structure for Tax Fraud Announced – Neutral 🔗 Read more *External Sector & Commodities:* • REER Index Drops to 97.8 in April (lowest since Sep’23) – Neutral 🔗 Mettis Global • Petroleum Imports Down 16% YoY in May – Neutral 🔗 Mettis Global *Policy & Corporate Updates:* • NA & Senate Panels Reject 18% GST on Imported Solar Panels – Neutral 🔗 Dawn • K-Electric Plans Rs3bn Sukuk Listing on PSX – Neutral 🔗 Profit • Reko Diq Rail Link to be Developed by 2028 – Neutral 🔗 The News • Power Sector Cuts RLNG Use by 28% Due to SNGPL Shortfall – Neutral 🔗 Business Recorder *Agriculture & Exports:* • Fertilizer Sales Up 5% in May, But Urea Falls 31% & DAP Down 21% – Neutral 🔗 Profit • Textile Exports Decline by ~5% YoY in May – Negative 🔗 Mettis Global • SBP Eases Reporting Requirements for IT Exporters & Freelancers – Neutral 🔗 Business Recorder • LUCK, DGKC, MLCF, SNGP & GAL Added to Meezan Pakistan Index – Neutral 🔗 Mettis Global *Global Market Snapshot:* • Oil Prices Climb Near 5-Month High on Mideast Tensions • WTI: $74.08 | Brent: $75.67 | Arab Light: $72.61 🔗 Bloomberg (June 17) • Global Stocks Dip Amid Israel-Iran Escalation 🔗 Bloomberg (June 16) *Currency & Commodities:* • USD/PKR (Interbank): 283.41 • USD/PKR (Open Market): 285.40 • R Bay Coal: $91.25/ton