2026 looks harder for Pak investors amid growing uncertainty

After an exceptional year in which gold prices surged and the Pakistan Stock Exchange delivered near-record returns, investors are now entering 2026 with growing uncertainty. With interest rates expected to ease, taxes rising on savings, property markets losing momentum and equities no longer cheap, the easy gains of the past three years appear to be behind.

For many Pakistanis, the challenge ahead is not how to make quick money, but how to protect hard-earned wealth in a more difficult and less forgiving investment environment. As investors now look towards 2026, attention is shifting to which asset classes still make sense in a changing economic environment.

Many Pakistanis continue to keep their money in current accounts, often due to habit or religious considerations. However, these accounts offer zero return, while banks use the same funds to earn double-digit returns by investing in government securities, according to a report by The Express Tribune.

Savings accounts are a step ahead, but returns remain modest. Typically, they offer returns slightly below the State Bank of Pakistan’s policy rate, translating to around 9 per cent annually at present. Recent tax measures have further reduced post-tax returns, especially for those with higher savings balances.

More financially aware investors often turn to low-risk fixed-income mutual funds.