Author: capital

FRANKFURT: The world’s largest home textile exhibition, Heimtextil 2026, has commenced, with Pakistani products receiving an encouraging response from international buyers. Alongside home textile manufacturers, Pakistani carpet exporters are also participating in the expo, raising hopes for the revival of the country’s declining carpet industry. Pakistan is participating in Heimtextil as the fourth-largest exhibiting country. The global exhibition, which began on January 13 in Frankfurt, Germany, features 3,100 exhibitors from 65 countries. Pakistan’s presence has expanded significantly this year, with a total of 285 companies showcasing a wide range of…

ISLAMABAD: The Speaker of the National Assembly on Tuesday referred the controversy over the federal government’s decision to fund a Rs465 billion motorway project in Punjab to a parliamentary committee, after the Pakistan Peoples Party (PPP) raised objections to financing the scheme from federal coffers. Senior PPP leader and former finance minister Syed Naveed Qamar submitted a calling attention notice on the matter of “urgent public importance regarding the federal takeover of the Rs465 billion Lahore-Bahawalnagar motorway project”. Qamar said the government’s decision to divert resources from nationally strategic projects…

Global and local gold and silver prices surged to historic highs on Wednesday, driven by strong international bullion market gains. In the international market, spot gold rose 1% to $4,632.03 per ounce by 0715 GMT after hitting a record high of $4,639.42 earlier in the session. US gold futures for February delivery climbed 0.9% to $4,639.50. In Pakistan’s local market, the price of gold per tola jumped by Rs4,300 to a record Rs486,162, while the price per 10 grams increased by Rs3,687 to Rs416,805. Read: Gold prices rise despite global dip…

KARACHI: Standing on recently gained credibility following its conflict with India, Pakistan is positioning itself among emerging global defence exporters, as the country lines up potential defence export orders worth $13 billion, a scale that could materially alter its external account dynamics and industrial landscape over the medium term. “Post the success of Bunyan-e-Marsoos, Pakistan has seen a massive boost to its diplomatic standing with geo-strategic deals and engagements; a key outcome which is emerging from these engagements is the defence deals and defence agreements,” noted KTrade Securities Research Analyst…

KARACHI: Gold prices in Pakistan climbed to a fresh record for the second consecutive day on Tuesday, tracking a strong rally in global bullion markets as softer US inflation data reinforced expectations of Federal Reserve rate cuts this year, while persistent geopolitical and economic uncertainty boosted safe-haven demand. Silver also touched a new peak alongside gold, reflecting broad-based strength across precious metals. In the local market, the price of gold per tola rose by Rs900 to reach an all-time high of Rs481,862, according to the All-Pakistan Gems and Jewellers Sarafa…

ISLAMABAD: Prime Minister Shehbaz Sharif has directed officials to introduce uniform gas prices and mulled over a plan to put a tag on fertiliser bags. The prime minister is also considering ending subsidised gas supply to fertiliser plants and extending direct subsidy to farmers through the Benazir Income Support programme (BISP). Sources told The Express Tribune that a committee on gas supply, headed by Deputy Prime Minister Ishaq Dar, was working on uniform gas prices for fertiliser plants. While considering the allocation of Mari gas to fertiliser manufacturers, the PM…

LAHORE: While Pakistan celebrates record-breaking remittances that touched $3.59 billion in December 2025, a troubling economic reality lurks beneath the surface. The country’s export sector continues its downward spiral, exposing a dangerous dependency on overseas workers rather than productive economic activity. The contrast has become evident as recent data showed remittances growing by 16.5% year-on-year in December, while exports plummeted 20.4% to just $2.32 billion during the same month. This stark divergence has raised alarm bells among industry leaders, who warn that the country cannot rely indefinitely on money sent…

ISLAMABAD: The government on Tuesday approved several supplementary grants totalling Rs24 billion, including the additional money for armed forces and Rs10 billion for building Customs posts along the Indus River. The Economic Coordination Committee (ECC) of the cabinet, which took those decisions, also constituted a committee to negotiate a settlement with Asia Petroleum, which is a joint venture between Pakistan’s government and foreign firms. A finance ministry statement said that the meeting considered several proposals and summaries submitted by ministries and divisions, including requests for technical supplementary grants, along with…