The Pakistan Stock Exchange (PSX) opened Tuesday’s trading session on a positive note, with the benchmark KSE-100 Index climbing more than 1,300 points.

The index surged to 164,368 points during early trading, reflecting a strong upward movement in the market.

In the previous session, the benchmark index had settled at 163,038 points.

The latest rally marks a positive start to the trading day, with the market gaining momentum after the previous session’s close.
 

Pakistan latest change in government gasoline prices has caused an increase in petrol and high-speed diesel prices and the cost of both major petroleum products has been increased ahead of Tuesday (October 27).

An official statement released by the Petroleum Division stated that the petrol price has been hiked by Rs1.54 per litre while high speed diesel (HSD) has become costlier by Rs2.16 per litre.

The price of petrol will be Rs379.25 per litre after the modification, while the new price of high speed diesel has been fixed at Rs395.82 per litre. The Oil and Gas Regulatory Authority (OGRA) has changed the ex-depot prices for October 27, 2026, and the revised rates have been calculated as per the petroleum pricing system of the government.

Pakistan is the only major cotton-producing country to have had such a dramatic loss and its production has fallen by more than 60% in the past decade, said Ehsanul Haq, chairman of the Cotton Ginners Forum.

Haq added in a statement that lax enforcement of agricultural zoning laws, too much sugarcane planting in designated cotton-growing areas and setting up of new sugar mills were the main causes for the fall.

He urged on enforcement of crop zoning restrictions and preventing sugarcane cultivation in cotton belts to bring back local cotton production. He added after efficient execution of the zoning laws, enhancements should be made to cotton research stations and other supporting measures.

Haq further demanded to provide a legal structure to the planned Pakistan Cotton Board under the leadership of All Pakistan Textile Mills Association (APTMA. He advocated that the Pakistan Central Cotton Committee (PCCC) and its subordinate institutions should be placed under the proposed board.

The reduction in domestic cotton production and quality has created a crisis in the local cotton sector, making Pakistan more dependent on imported cotton and edible oil, putting more pressure on foreign exchange reserves, Haq said.

He claimed the government has failed to come up with a viable strategy to reverse the drop despite a high-level meeting chaired by the Deputy Prime Minister Ishaq Dar approximately a year ago, which decided to establish a cotton board under the direction of APTMA.

Signs have emerged that the decision has started to be implemented after a year of delay, he said.

The proposed board could include representatives of the Pakistan Cotton Ginners Association (PCGA), the Karachi Cotton Association (KCA), the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the National Textile Education Council, private seed companies and concerned government institutions.

Haq also called upon the federal and provincial governments to focus the enforcement of crop zoning restrictions and improve the Pakistan Meteorological Department so that it could deliver prompt and accurate weather forecasts to farmers.

“Cotton prices came under pressure last week due to financial difficulties in the sector, limited buying by textile mills, imports of yarn and fabric under the Export Facilitation Scheme and government inspections of cotton ginning factories,” he said.

Cotton prices fell to Rs18,500 from Rs18,500 per maund, a drop of Rs200, Haq said.

He also expressed concern over the reports of financial scandals involving billions of rupees in the yarn market of Faisalabad and millions of rupees in several cotton ginning facilities in Sindh, saying these developments have added to the uncertainty across the sector.