S&P Global upgraded Pakistan’s sovereign credit rating from B- to B, its first such move since 2016, citing stronger external buffers and improved fiscal metrics. Foreign exchange reserves rose to $25.3 billion from $6.7 billion in December 2022, while the fiscal deficit narrowed to 4% from nearly 8% in FY2022-23. The agency also pointed to IMF-backed reforms and greater institutional stability, but warned that debt-servicing costs, security risks and regional tensions remain constraints, according to S&P Global.

Pakistan LNG Limited (PLL) has approved the purchase of a spot liquefied natural gas cargo for July delivery at $21.88 per million British thermal units (MMBtu). The cargo is scheduled to arrive on July 27–28 after PLL received just one bid. TotalEnergies Gas & Power submitted the sole offer at $21.88 per MMBtu for the fifth LNG cargo to be delivered in July, according to sources.

The Pakistan Stock Exchange and the finance ministry held an investor briefing outlining Pakistan’s debt management strategy, reporting FY2026 Sukuk issuance of Rs3.5 trillion, up nearly 60% from the prior year. The debt-to-GDP ratio fell to 68.5% while the average time to maturity rose to 3.9 years. Officials also said Pakistan completed Rs4.7 trillion in replacements of high-cost debt over the past two years.

Retail food prices in Lahore remain well above the government’s daily notified rates, with vegetables, poultry and fruit commonly selling at premiums of 30% to 100%. Some items, including Chinese garlic and Thai ginger, are priced more than 100% higher than the official benchmarks. Even after recent cuts in petrol and diesel prices that would normally reduce transport costs, shop prices have largely held firm or moved higher. The continued gap points to weak price pass-through and local supply-demand imbalances, keeping near-term pressure on agricultural spot markets and supply chains.