Category: bussines

ISLAMABAD: The government has directed the Competition Commission of Pakistan (CCP) to investigate the allegations of cartelisation in the cooking oil and ghee industry on a fast track. The National Price Monitoring Committee (NPMC), in a recent meeting, directed the CCP to submit its preliminary findings in the next meeting. The committee said that it had noticed that health issues were increasing due to the substandard quality of cooking oil and ghee. Furthermore, it stated that the issue may be taken up seriously by the relevant ministries and provincial departments.…

ISLAMABAD: Pakistan’s textile and apparel exports suffered a broad-based decline across its three largest markets, the European Union, the United States and the United Kingdom, during the first half of FY26, signalling a deepening competitiveness crisis for the country’s largest export sector. Chairman of Pakistan Textile Council (PTC) Fawad Anwar said the downturn was not confined to a single product or destination but reflected systemic weaknesses in the cost of doing business, according to a statement issued on Wednesday. Textiles and apparel, Pakistan’s biggest export-oriented industry, face immediate risks to…

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) Haroon Akhtar Khan held a meeting with representatives of Fortune 500 Chinese company Xiamen C&D, during which the company expressed strong interest in making large-scale investments in Pakistan. The meeting was attended by Chairman Export Processing Zones Authority (EPZA) Freedoon Akram Sheikh, according to a statement issued on Wednesday. Xiamen C&D conveyed its interest in investing in Pakistan’s automobile, steel and iron sectors. The SAPM said Xiamen C&D is a globally renowned company with a strong presence across international supply chains, steel,…

LAHORE: After months of improved macroeconomic indicators and relative calm in currency and inflation markets, Pakistan’s business community is raising questions about whether the current phase of economic stability can translate into long-term growth. While headline numbers suggest improvement, industrialists argue that deep structural weaknesses remain unaddressed and could resurface once external support eases. Pakistan Industry and Traders Association Front (PIAF) Chairman Syed Mehmood Ghaznavi said that despite recent fiscal inflows and improved reserves, the country continues to face high interest-related expenditures that are draining public finances. He noted that…

KARACHI: Bank Alfalah has decided to exit its operations in Afghanistan amid persistent political, economic and regulatory challenges in the country, a move that reflects both country-specific risks and a broader strategic shift underway across Pakistan’s banking sector. According to a statement and market commentary, the decision comes against the backdrop of frozen Afghan foreign reserves, uncertainty surrounding international recognition of the Taliban-led government, and prolonged disruptions to cross-border trade and financial flows. Banking sector analyst Asad Ali of Topline Securities said that, given the prevailing conditions in Afghanistan, the…

ISLAMABAD: The federal government has conditionally recommended a Rs465 billion provincial project, named Lahore-Bahawalnagar motorway, for approval in violation of the National Fiscal Pact and instructions of the Prime Minister’s Office, as well as without securing funding and firming up design. The cost is Rs201 billion, or 76%, higher than the original price tag set two years ago, and the road project “jeopardises the viability, need and up-gradation of Mainline-I project” of the China-Pakistan Economic Corridor, reveals official documents. The Central Development Working Party (CDWP), which has the mandate to…

WASHINGTON: President Donald Trump on Friday blocked US photonics firm HieFo Corp’s $3 million acquisition of assets in New Jersey-based aerospace and defence specialist Emcore, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the president to believe that it may “take action that threatens to impair the national security of the United States.” The order did not name the individual or…