Category: bussines

ISLAMABAD: Year 2026 could be a defining period for Pakistan’s economy. After the hard-won stabilisation of 2025, the country faces a clear test: whether stability can be converted into lasting progress. For more than a decade, GDP growth has barely kept pace with population growth, leaving incomes stagnant and widening the gap with regional peers. If stabilisation fails to deliver jobs and rising incomes, public support for reform will inevitably weaken. The central challenge of 2026, therefore, is to pivot from stabilisation to inclusive, accelerated growth and turn fragile stability…

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HOUSTON:A day after President Nicolas Maduro said Venezuela was open to negotiating a deal with the United States to combat drug trafficking, an allegation for which US President Donald Trump has provided no evidence, the US military carried out a large-scale air strike on Venezuela and captured President Maduro on Saturday. The developments have drawn renewed attention to Venezuela’s oil industry, which holds the world’s largest proven reserves but has struggled for years with falling production, sanctions and underinvestment. Venezuela has the largest known oil reserves globally, estimated at 303…

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ISLAMABAD: Pakistanis spent two out of every three rupees on just two basic needs — food and electricity — as reliance on foreign remittances and financial assistance increased to meet growing expenditures, a new government survey showed. The expenditures increased at a faster pace than the incomes due to current economic pressure and rising cost of living, according to the Household Integrated Economic Survey 2024-25, released by the Minister for Planning Ahsan Iqbal on Thursday. The findings of the survey, conducted after a gap of over six years under pressure…

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KARACHI: The Pakistan Stock Exchange (PSX) rallied to another record high on Tuesday and appeared well-positioned for a vibrant performance in 2026, underpinned by improving investor sentiment and ample liquidity. The market began the day’s proceedings on a strong footing, swiftly scaling to the intra-day peak of 174,805 in early trading. However, profit-taking triggered a mid-morning correction, which pulled the index down to the intra-day low of 174,121. Subsequently, investor confidence strengthened with the market moving in a narrow band and making a gradual recovery through the afternoon. The rally…

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KARACHI: Gold prices in Pakistan declined sharply on Tuesday, tracking losses in the international bullion market amid profit-taking following a strong year-end rally. In the local market, the price of gold per tola dropped by Rs10,700 to settle at Rs459,462, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold fell by Rs9,174 to Rs393,914. Silver prices also came under pressure in the local market, with the price per tola falling by Rs145 to Rs7,930. Despite the day’s correction, silver has…

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ISLAMABAD: Oil and Gas Development Company (OGDC) is looking to explore hydrocarbon reserves overseas in association with Russian and Turkish energy companies. In this regard, OGDC – Pakistan’s largest oil and gas explorer – intends to forge joint ventures with Russian energy giant Gazprom and Turkish Petroleum in Libya and Vietnam in onshore and offshore exploration zones, said sources while talking to The Express Tribune. The company’s objective is to boost energy supplies from different countries to help reduce Pakistan’s energy import bill. Indian oil and gas explorers too are…

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ISLAMABAD: The State Bank of Pakistan (SBP) has released its Quarterly Report on Payment Systems, highlighting growth in digital transactions and continued expansion of the country’s payment ecosystem during the first quarter of fiscal year 2025-26. According to an official statement issued on Tuesday, total payment volumes increased to 2.8 billion transactions in the quarter, reflecting a 10% rise over the previous quarter. The value of retail payments reached Rs166 trillion, marking a 6% quarterly increase, largely driven by growing use of mobile app-based banking. Digital payment channels accounted for…

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ISLAMABAD: Pakistan on Tuesday launched its first private-capital-funded Pakistan Skills Impact Bond (PSIB), backed by a guarantee from the Ministry of Finance, to operationalise a Rs1 billion pilot tranche under a three-year instrument aimed at financing a scalable technical skills development programme. According to an official statement, the PSIB has been designed to deliver measurable outcomes, including certification, job placement and at least six-month job retention for each trainee. The initiative represents a shift from traditional input-based public spending towards outcome-driven, private-sector-enabled social investment. Under the proposed structure, subsequent tranches…

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KARACHI: The year 2025 finally delivered a long-awaited wave of locally assembled vehicles in Pakistan, spanning hybrids, SUVs, pickups, and electric models, following a series of government policy interventions aimed at revitalising the auto sector. While the expanded lineup has brought greater choice, improved technology, and renewed competition, the benefits have so far remained concentrated in the higher-income segment. Affordable options for middle- and lower-income buyers remain largely absent, raising concerns that the current progress has yet to meaningfully trickle down to the broader segments of society, limiting the inclusive…

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ISLAMABAD: The government on Tuesday approved a 3.7% economic growth rate for the first quarter of the current fiscal year on the back of growth across all major sectors of the economy, beating its own official reports of severe damage to agriculture caused by the “devastating floods”. The National Accounts Committee (NAC), the government body mandated to approve economic growth numbers, approved the overall 3.71% gross value addition for the first quarter of 2025-26. The NAC meeting was chaired by Secretary Planning Awais Manzur Sumra. However, the output figures across…

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