Forecast
Pakistan 2026: Five Trends That Will Define the Year
Reserves are stabilising, the security picture is not. Our framing of the five dynamics — fiscal, political, security, regional, and energy — that will shape Pakistan's year.
Read →Geopolitical Research & Advisory
Margalla Global analyses the political, economic, and security forces reshaping the global order — and Pakistan’s place within it.
Independent geopolitical analysis from a Pakistani vantage point, for investors, policymakers, and institutions navigating a shifting world.
From the wire
NPR World China hits back at U.S. sanctions restricting its exports to American defense firms Al Jazeera ‘Encouraging progress’ made as first round US-Iran talks end BBC World First round of US-Iran talks ends with 'encouraging progress', mediators say Al Jazeera New York City welcomes the summer solstice with Times Square yoga Al Jazeera Colombia presidential candidate De la Espriella celebrates preliminary lead Al Jazeera Qatar LNG factory explosion injures 54, leaves 18 missing, gov’t says
World → Featured Analysis
All Analysis → Briefing
Protectionism Returns: Global Tariffs and Pakistan's Export Math
As the world's largest economies rediscover tariffs and industrial policy, the open-trade assumptions behind Pakistan's export model are quietly eroding. The window is narrowing.
Forecast
The Middle-Power Moment: Can Pakistan Use a Multipolar World?
A fragmenting global order theoretically hands middle powers more leverage. Whether Pakistan can convert that theory into advantage is a question of capacity, not opportunity.
Commentary
The PSX Rally Meets the Real Economy
Pakistani equities have been among the world's best performers on the back of stabilisation. The question for the second half of the year is whether earnings and growth can validate the re-rating.
Focus Areas
About our coverage →Great-Power Competition
US–China rivalry, multipolarity, and how a fracturing order reshapes the room middle powers have to move.
8 pieces →Pakistan–China & CPEC
The corridor, the debt, and the partnership that anchors Pakistan to Beijing — and to the wider China question.
3 pieces →South Asia & India
Deterrence, the Line of Control, Afghanistan, water, and the regional security web Pakistan sits inside.
4 pieces →Global Economy & Trade
The IMF, capital flows, supply chains, and the external forces that set the limits on Pakistan’s economy.
13 pieces →Middle East & Energy
Gulf realignment, oil and gas, remittances, and the Middle East’s shifting pull on Pakistan and the region.
3 pieces →Climate & Security
Water stress, the energy transition, climate shocks, and the slow-moving risks that compound every other.
4 pieces →Featured Research · The Margalla Monitor
A live read on Pakistan's economy and CPEC.
Our signature tracker: key macro indicators and the status of every major corridor project, kept current. The exchange rate refreshes automatically; everything else we verify by hand.
Open the Monitor PKR / USD● 280.25
FX Reserves $11.5bn
CPI (YoY) 3.2%
CPEC operational 5/8
Advisory Services
All services →Our research informs our advisory work for investors, institutions, and firms operating in Pakistan. The same analysis you read here underpins the briefings we deliver behind closed doors.
Political Risk Assessment
Structured briefings on political stability, policy direction, and security risk for boards, lenders, and investment committees weighing Pakistan exposure.
Market Entry Advisory
Regulatory, fiscal, and stakeholder mapping for firms entering or expanding in Pakistan — from sector licensing to the politics that move it.
Policy Briefings for Institutions
Tailored sessions and written briefs for development institutions, missions, and funds that need a clear read of Islamabad without the spin.
Custom Research
Commissioned deep-dives — supply chains, provincial dynamics, sector outlooks — built on primary sources and on-the-ground networks.
What We're Reading
All picks →Selected analysis from across the field on global affairs and the region — external sources, credited and linked.