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Express Tribune
01-05-2025
- Business
- Express Tribune
South Asia's longest 12.5km river bridge under construction in Sindh
Listen to article Pakistan is constructing what will be the longest river bridge in South Asia, the Ghotki-Kandhkot Bridge, spanning 12.5 kilometers across the Indus River in Sindh province. The project, which is expected to be completed by 2028 at an estimated cost of Rs30.5 billion, aims to enhance regional connectivity and spur economic development. 'This is going to be the longest river bridge in the entire South Asian region,' said Syed Qasim Naveed Qamar, Special Assistant to the Chief Minister of Sindh on Investment and Public-Private Partnership, during a meeting with members of the business community on Thursday. Qamar noted that construction work has been in progress for the past two years and is currently advancing at full pace. 'We aim to complete and inaugurate the bridge by 2028,' he added. Strategically located at the tri-junction of Sindh, Punjab, and Balochistan, the bridge is expected to drastically cut travel time across the Indus from 2.5 hours to just 15 minutes. Beyond improving mobility, it is also seen as a solution to persistent law and order issues and kidnapping incidents in the katcha areas, the underdeveloped low-lying regions near the riverbanks. 'While Ghotki has experienced some industrial development and better road infrastructure, Kandhkot has lagged behind. This bridge will help open up job opportunities and improve livelihoods in Kandhkot,' Qamar said. During the meeting, Qamar and his team also presented nearly a dozen infrastructure and social sector projects, including roads, schools, hospitals, and special economic zones, with a combined investment potential of over Rs616 billion. The aim, he said, is to attract private sector investment through public-private partnerships. Prominent business leaders in attendance included MNA Mirza Ikhtiar Baig, KCCI's Zubair Motiwala, industrialist Arif Habib, and other key stakeholders such as Arif Elahi, Danish Khan, Junaid Naqi, Zahid Saeed, Sameer Chinoy, and Danish Elahi.
Business Recorder
01-05-2025
- Business
- Business Recorder
Pakistan builds South Asia's longest 12.5KM river bridge in Sindh
Pakistan is constructing the longest river bridge in South Asia — the Ghotki-Kandhkot Bridge — in Sindh province. Spanning 12.5 kilometers, the bridge is expected to be completed by 2028 at a cost of Rs30.5 billion, a Sindh government official told Business Recorder. 'This is going to be the longest river bridge in the entire South Asian region,' said Syed Qasim Naveed Qamar, Special Assistant to the Chief Minister of Sindh on Investment and Public-Private Partnership, on the sidelines of his meeting with the business community on Thursday. According to Qamar, work on the project has been progressing at full scale for the past two years. 'We aim to complete the construction and inaugurate the bridge by 2028,' he said. Situated at a strategic junction connecting the provinces of Balochistan, Punjab, and Sindh, the bridge is expected to significantly enhance regional connectivity. 'This will not only bring prosperity to Pakistan but to the broader region as well,' Qamar added. The bridge will drastically reduce travel time across the river — from the current 2.5 hours to just 15 minutes. 'It will help address long standing issues such as law and order and incidents of kidnapping in katcha areas — the underdeveloped low-lying regions along the riverbanks,' he said. Qamar noted that while Ghotki has seen some industrial growth and improved highway connectivity, similar development has been lacking in Kandhkot. 'The bridge will open up job opportunities for people in Kandhkot and improve their livelihoods.' During the meeting with the business community, Qamar and his team showcased around a dozen projects — including initiatives for special economic zones, roads and bridges, schools, and hospitals — with a combined estimated cost of over Rs 616 billion. The objective of the meeting was to attract private sector participation in these initiatives through public-private partnerships. Prominent businessmen who attended included Member of the National Assembly Mirza Ikhtiar Baig, Karachi Chamber of Commerce and Industry leader Zubair Motiwala, and renowned industrialist and stockbroker Arif Habib. Other notable attendees included Arif Elahi, Danish Khan, Junaid Naqi, Zahid Saeed, Sameer Chinoy, and Danish Elahi.
Express Tribune
22-04-2025
- Business
- Express Tribune
PSX holds ground amid cautious sentiment
Shares of 340 companies were traded. At the end of the day, 93 stocks closed higher, 233 declined and 14 remained unchanged. PHOTO: FILE Listen to article The Pakistan Stock Exchange (PSX) ended marginally higher on Tuesday as late-session selling pressure, driven by a bearish trend in global equities, a weakening rupee, and falling international crude oil prices capped earlier gains. The KSE-100 index opened on a positive note amid news of Finance Minister Muhammad Aurangzeb's reassurance to continue the IMF-guided reform agenda during the opening day of the World Bank Group's Spring Meetings. The index hit an intra-day high of 119,217 points before profit-taking pulled it down to an intra-day low of 118,162 points. At the close of trading, the index stood at 118,430.35 points, reflecting an increase of 46.97 points or 0.04%. Traded volume and value remained strong, with 740.9 million shares exchanged and a total turnover of Rs30.5 billion. According to Ahsan Mehanti of Arif Habib Corp, the market closed flat as late-session pressure weighed on sentiment. The downtrend was attributed to weakness in global markets, currency depreciation, and declining global crude oil prices. However, strong financial results supported the index. Mehanti noted that reports of an expected easing in the State Bank of Pakistan's monetary policy, the government's resolve on US tariff issues, and the anticipated release of the IMF support tranche next month also contributed to the positive close. Topline Securities, in its market review, stated that investor sentiment was supported by corporate earnings announced during the session, although activity remained subdued due to cautious trends in international markets. The index's performance was largely underpinned by gains in Fauji Fertiliser Company, Engro Holdings, Habib Metropolitan Bank, AGP Limited, and Atlas Honda Limited, which collectively contributed 733 points, Topline added. Investor participation remained robust, with 740 million shares traded and overall market turnover at Rs30 billion, the brokerage noted. Arif Habib Limited (AHL), in its commentary, observed that the index continues to trade within the "Tariff Gap," keeping the near-term outlook exposed to downside risks. Among the top gainers, Fauji Fertiliser Company rose 4.9%, Habib Metropolitan Bank climbed 5.78%, and AGP Limited gained 7.25%. On the other hand, UBL fell 4%, Meezan Bank declined 3.26%, and Engro Fertiliser dropped 1.8%, acting as major drags on the index. The Bank of Punjab shed 8.49% after announcing its 1QCY25 earnings per share (EPS) at Rs0.53, a 5% increase year-on-year. However, the absence of a dividend surprised the market, noted AHL. Engro Fertiliser also reported its 1QCY25 EPS at Rs2.17, down 63% year-on-year, alongside an interim cash dividend of Rs2.25 per share. Additionally, the brokerage highlighted that Pakistan's headline inflation for April 2025 is projected to fall sharply to 0.45% year-on-year, a historic low, down from 0.69% in March, based on SBP data across various base years. Ali Najib of Insight Securities described the session as a "Battle of Wills" between bullish and bearish forces, with both sides vying for dominance. Ultimately, the bulls gained the upper hand, albeit by a slim margin, as the index closed with a 47-point gain. Najib added that the market opened on a positive note, buoyed by news of Finance Minister Aurangzeb's assurance to IMF Managing Director Kristalina Georgieva regarding Pakistan's commitment to IMF-guided reforms. This pushed the benchmark to an intra-day high of 119,217 before profit-taking dragged it down to a low of 118,162 points. A total of 451 companies' shares were traded, of which 214 stocks closed higher, 196 fell, and 41 remained unchanged. The Bank of Punjab led in volume with 116.7 million shares traded, falling Rs0.97 to close at Rs10.45. It was followed by Power Cement, which gained Rs0.72 to close at Rs14.26 on a volume of 67.9 million shares, and Pakistan International Bulk Terminal, which declined Rs0.66 to close at Rs9.92 on 58.8 million shares. Foreign investors purchased shares worth Rs102.5 million during the day, according to data from the National Clearing Company of Pakistan Limited (NCCPL).
