PSX Billion-Dollar Club Soars from 3 to 15 in Just Two Years

The Pakistan Stock Exchange (PSX) has seen a remarkable transformation in its market landscape over the past two years, with the number of companies valued at over USD 1 billion growing fivefold.

In 2023, only three companies held the prestigious billion-dollar market capitalization — Oil & Gas Development Company (OGDC), Nestlé Pakistan, and Colgate-Palmolive (COLG). This small circle represented a limited segment of the exchange’s total market value.

By 2024, the momentum started to build. Meezan Bank (MEBL), Mari Petroleum (MARI), United Bank Limited (UBL), and Pakistan Petroleum Limited (PPL) joined the elite ranks, signaling increased investor confidence, strong corporate earnings, and sector-wide growth.

Fast forward to August 2025, and the billion-dollar club has expanded to an impressive 15 companies. Alongside the earlier members, the list now includes Fauji Fertilizer Company (FFC), Lucky Cement (LUCK), MCB Bank (MCB), Habib Bank Limited (HBL), Pakistan Tobacco Company (PAKT), Bestway Cement (BWCL), National Bank of Pakistan (NBP), and Engro Fertilizers (EFERT).

This surge in high-value companies reflects not just the bullish sentiment in the equity market, but also Pakistan’s improving macroeconomic outlook, corporate profitability, and growing investor participation—both local and foreign.

From just three billion-dollar firms in 2023 to fifteen in 2025, the PSX is on a solid upward trajectory, underlining its position as a resilient and opportunity-rich investment destination.