Category: bussines

ISLAMABAD: The government has projected the collection of an additional Rs132 billion annually from power consumers through fixed charges across various domestic categories. However, the net impact on cross-subsidy is estimated at Rs101 billion, as the government has reduced electricity tariffs by up to Rs1.53 per unit for CY2026. On Tuesday, the National Electric Power Regulatory Authority (NEPRA) conducted a public hearing on a petition filed by the Power Division. The hearing was chaired by NEPRA Chairman Waseem Mukhtar, while officials from the Power Planning and Monitoring Company (PPMC) briefed…

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LAHORE: Concerns over weak growth, low investment and shrinking competitiveness are pushing business leaders to renew calls for a comprehensive overhaul of the economic framework, warning that incremental fixes will no longer be enough to stabilise and revive the economy. Recent discussions among industrialists and traders have highlighted that despite periods of macroeconomic stabilisation, structural issues continue to undermine confidence. Complicated procedures, inconsistent policies and a narrow tax base are widely seen as key reasons why economic recovery has remained fragile. According to business representatives, these challenges are not new,…

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ISLAMABAD’: A Senate panel on Monday expressed serious concern over failure of the ministries concerned to introduce legislation aimed at increasing imprisonment and penalties related to liquefied petroleum gas (LPG) bowser and cylinder blasts, leading to several deaths. Senator Waqar Mehdi had taken up the matter in the Senate, which was referred to the Senate Standing Committee on Cabinet Secretariat. The panel warned that a private member bill would be introduced if the government was not serious about introducing the legislation. The standing committee, which met under the chairmanship of…

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Prime Minister Shehbaz Sharif on Tuesday described the granting of a commercial licence to Raqami Islamic Digital Bank as a major milestone for the financial sector and a significant step towards strengthening economic cooperation between Pakistan and Kuwait. Addressing the concluding session of the licence awarding ceremony, the prime minister said strong political relations must be underpinned by meaningful economic engagement, stressing that lasting partnerships could not be sustained without trade, investment and financial collaboration. “Pakistan and Kuwait are brotherly countries bound by decades of strong cultural, political, and people-to-people relations,”…

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LAHORE: United Arab Emirates (UAE) Ambassador Hammad Obaid Ibrahim Salem Al-Zaabi has announced that Pakistan and the UAE are at the final stage of signing the Comprehensive Economic Partnership Agreement (CEPA), which will significantly boost bilateral trade and remove business obstacles. He said the current trade volume of around $8-10 billion did not reflect the true strength of relations and expressed his government’s resolve to double the figure as soon as possible. Speaking at the Lahore Chamber of Commerce & Industry (LCCI), the ambassador said the UAE was rapidly shifting…

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KARACHI: Pakistan received $3.46 billion in workers’ remittances in January 2026, maintaining strong external inflows despite mixed performance across major corridors, with Europe and Western economies showing robust growth while remittances from the United States and parts of Asia weakened, according to provisional data released by the State Bank of Pakistan (SBP). The January inflows were slightly lower than the $3.59 billion recorded in December 2025, but significantly higher than the $3 billion in January 2025, reflecting continued resilience in diaspora transfers amid global economic uncertainties and evolving migration trends.…

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ISLAMABAD: Pakistan is seeking to deepen trade and investment ties with Saudi Arabia while pressing for stronger global coordination to manage rising sovereign debt risks, as Finance Minister Senator Muhammad Aurangzeb highlighted both priorities during engagements at the AlUla Conference for Emerging Market Economies 2026. Speaking to Arab News on the sidelines of the conference, Aurangzeb described Saudi Arabia as a longstanding partner and said bilateral relations had remained resilient despite global geopolitical tensions, adding that Pakistan now wants to shift the focus of the relationship from aid and support…

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ISLAMABAD: Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan on Monday discussed the revival of Pakistan Steel Mills (PSM) and cooperation during a meeting with Pakistan’s ambassador to Russia, as the government seeks foreign investment to restart the asset. According to a statement issued by the Ministry of Industries and Production, the meeting focused on strengthening Pakistan-Russia economic ties, with emphasis on the revival and modernisation of PSM. Akhtar Khan said the government was pursuing Prime Minister Shehbaz Sharif’s vision of restoring the steel mills as a viable…

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KARACHI: Against the State Bank of Pakistan’s (SBP) confidence in the banking system, Moody’s has revised down the outlook for Pakistan’s banking system from “positive” to “stable,” citing structural vulnerabilities, particularly banks’ heavy exposure to government securities. SBP Governor Jameel Ahmad, in a recent in-camera briefing, stressed that local banks are “far better capitalised than what is required by international standards” and maintain buffers well above regulatory minimums, enabling them to absorb potential shocks. Pakistan’s banking sector lending is highly concentrated in government treasuries, said Sana Tawfiq, Head of Research…

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