The Pakistan Stock Exchange (PSX) opened positive on the second trading day of the week with the benchmark index surging again above 171,000 level.

The 100-index climbed almost 550 points, trading at 171,150 points in early business hours against the previous day’s close of 170,600 points.

The stock market had a bearish trend a day earlier with 3,362.62 points loss, a negative change of 1.93 percent closing at 170,600.20 points against 173,962.82 points on the past trading day according to PSX statistics.

Meanwhile, the rupee gained against the US dollar, which extended losses in the interbank market.

The dollar declined by 2 paisas to Rs278.45, according to the Exchange Companies Association.

Asian equities steadied in choppy trade on Tuesday as investors shrugged aside uncertainties about the sustainability of a Middle East peace to return to favorite AI plays.

MSCI’s broadest index of Asia-Pacific equities outside Japan (.MIAPJ0000PUS) was up 0.4% after seesawing between gains and losses at the start of trading.

Regional falls were led by Korean shares (.KS11) falling as much as 3.3% following an initially higher open, while gains for equities in China and Hong Kong steadied the regional benchmark. S&P 500 e-mini futures slipped 0.3% as Japan’s Nikkei 225 (.N225) tumbled 0.7%.

In response to the fact that one of Pakistan’s most lucrative fruit exports is being threatened by conflict-related interruptions across the Middle East, skyrocketing freight costs, and climate-related crop losses, Pakistan’s mango exporters have reduced their export objective for this year by 30,000 tonnes, which is roughly 30 percent.

According to the Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA), exporters now anticipate shipping 80,000 tonnes of mangoes this season, which is a decrease from 110,000 tonnes the previous year. Additionally, export earnings are projected to fall to between $75 million and $80 million, which is a decrease from approximately $110 million the previous year.

It was on Sunday that the first shipments of mangoes from Pakistan were sent to markets outside of Pakistan, marking the official beginning of the export season.

There are a number of mango varieties that are native to Pakistan, including Sindhri, Chaunsa, and Anwar Ratol. Pakistan is the fourth largest mango grower in the world. One of the most significant horticultural exports from the country is the fruit, and the Gulf states are the country’s most important trading partners in the international market.

According to a statement released by the Patron-in-Chief of the PFVA, Waheed Ahmed, “the export target has been reduced to 80,000 tonnes from 110,000 tonnes last year.” This decision was made in light of the enormous problems that are currently being faced by the trade.

As a result of tensions involving Iran, Israel, the United States, and the wider Middle East, shipping routes have been disrupted, cargo movements have been delayed, and transportation costs have sharply increased across a region that serves as Pakistan’s most important mango market. This reduction comes at a time when exporters are struggling to deal with the fallout of these tensions.

Approximately 35 percent of Pakistan’s mango exports are destined for the Gulf region. In addition, exporters utilise overland trade routes that pass through Afghanistan, which is Pakistan’s neighbour, in order to access Central Asian markets.

According to Ahmed, exporters have become cautious as a result of the uncertainty surrounding regional crises.

His statement was that the Gulf crisis was the primary cause of this situation.

“Access to Afghanistan is absolutely restricted. There is also a crisis in Iran. In addition, there is a conflict going on in the Middle East.

“We are unable to predict what will take place tomorrow.”

Exporters have reported that the unrest in the region has resulted in a significant increase in the expenses of shipping.

According to the PFVA, the number of dollars charged for sea freight to Gulf destinations increased from approximately $1,200 to $1,400 per container during the previous season to as high as $6,000 to $7,000. The prices of air freight have also increased by more than twofold, reaching approximately two dollars per kilogram.

The federal government is also examining tax relief measures for the real estate industry in the next Budget 2026-27. Proposed cuts in transaction taxes on property purchase and sales for tax payers are being evaluated.

Official sources said the budget may also decrease transaction taxes imposed on taxpayers involved in property transfers. The suggested reforms are intended at providing relief to the real estate sector and promoting verifiable economic activity.

The withholding tax on property transactions under section 236K could be decreased from 1.5 per cent to 0.25 per cent, sources in the Finance Ministry indicated. The suggested cut is being discussed as part of broader moves to alleviate the tax burden on property buyers.

The withholding tax under section 236C on the sale of property can also be reduced in a similar way. The existing rate of 4.5 percent is likely to be reduced to 1.5 percent under the proposed budget measures.

Sources at the Federal Board of Revenue (FBR) said the International Monetary Fund (IMF) has been told about the proposed changes in the taxes on property sector.

But the non-filers are not expected to get any relief in the 2019 budget. Sources said non-filers presently pay a combined 10.5 percent on property purchases and transactions, and the rates are likely to remain constant.

Officials said the collection of withholding tax rose by 29 percent during the current fiscal year from July to March over the same time of the previous year. Sources said that despite the increase in revenue from withholding tax, revenue from gain tax dipped from the previous fiscal year due to the impact of greater taxing on property transactions.

The reforms are expected to be finalised as part of the release of the federal budget for the next fiscal year.