Economy

ADB approves $500m disaster financing for Pakistan

The Asian Development Bank (ADB) has officially approved $500 million in contingent disaster financing for Pakistan, a strategic move designed to bolster the country's capacity to respond to natural disasters and mitigate their severe economic and fiscal impacts. This financing, sanctioned under the bank's policy-based lending framework, is structured to provide immediate budgetary support following the occurrence of eligible disaster events, ensuring that the government has the necess

Tankers, Oil Facilities Under Attack Despite Iran War De-escalation Hopes

Market hopes of an Iran war de-escalation are colliding with a fresh wave of attacks on tankers in the Strait of Hormuz and energy infrastructure across the Middle East. Crude prices hit two-month lows on Tuesday after US officials played down the need for further military action against Iran, with analysts pointing to President Donald Trump's more conciliatory tone since Republicans' defeat in the November 3 midterm elections.But there has been little sign of attacks abating this mont

Site Association Seeks Suspension Of Nepra's Incremental Power Tariff

SITE Association of Industry (SAI) President Abdul Hadi has called for the immediate suspension of the National Electric Power Regulatory Authority's (Nepra) Incremental Consumption Package, describing the revised tariff of Rs25.3 per unit as "gross injustice". He said the additional cost of supplying incremental electricity is being passed on to general consumers who have not benefited from the scheme.In comments submitted to Nepra after a public hearing, the association argued t

Payoneer Brings Marketing Agencies Together To Explore Global Opportunities

Payoneer, a global financial technology company, brought together more than 40 Pakistani marketing agencies in Lahore on Monday to discuss opportunities in international markets as the country's advertising and market research services exports continued to grow. Pakistan's exports of advertising and market research services increased 19 per cent year-on-year to $30.7 million in the first quarter of FY2026-27, compared with $25.8 million in the same period last year, according to State

Saudi Delegation Explores Investment Opportunities at Port Qasim

A high-level Saudi business delegation, led by Prince Mansour bin Mohammed Al Saud, chairperson of the Saudi chapter of the Saudi-Pakistan Joint Business Council, visited the Port Qasim Authority (PQA) on Tuesday to explore opportunities for strengthening trade and investment ties between Pakistan and Saudi Arabia.The delegation was received by PQA Chairman Rear Admiral (r) Syed Moazzam Ilyas and Federal Secretary for Maritime Affairs Captain (r) Muhammad Khurram. Welcoming the delegation, the P

Govt Plans Smart Meter Installation Across All Discos

The government plans to install smart meters on transformers across all power distribution companies (Discos) with the help of multibillion-dollar financing from multilateral lenders. It will negotiate with the World Bank and Asian Development Bank (ADB) to arrange funding for the project.According to an official announcement, Minister for Economic Affairs and Establishment Division Ahad Cheema chaired a meeting on power distribution companies. The meeting reviewed development programmes for Dis

Centre Deducts Rs34.84bn From Provinces In First 2 Months Of FY27

For the first time in the country's history, the Centre has deducted Rs35 billion as grant receipts from all the four provinces under Article 164 of the 1973 Constitution so far, out of the total projected earmarked amount of Rs1.035 trillion for the financial year 2026-27."The Centre has deducted Rs34.839 billion as grant receipts from the provinces under Article 164 as Non-Tax Revenue (NTR) during the first two months of the current financial year 2026-27," top official sources

Pakistan Seeks Cheaper LNG Under G2G Price Review, Winter Bailout in Qatar Talks

Pakistan has invoked price-review provisions under two government-to-government (G2G) liquefied natural gas (LNG) supply agreements with Qatar to secure cheaper gas, reduce annual cargo commitments and renegotiate the pricing formula, while simultaneously seeking an emergency supply bailout for the peak winter months of December and January.The clause requires both sides to review and, if necessary, adjust the pricing formula so that the contract price falls within the range of prices under comp

Cabinet Panel Approves Chairmen, Independent Directors of Power SOEs

The Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Federal Minister for Finance Muhammad Aurangzeb, has approved the appointments of chairmen and independent directors of three state-owned enterprises (SOEs), including National Engineering Services Pakistan (NESPAK), Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).The approved appointments include Shahid Ashraf Tarar as Chairman/Independent Director of NESPAK. Five independent directors wer

PM Calls For Building Economically Stronger Energy Secure Pakistan

MIANWALI: Prime Minister Shehbaz Sharif on Tuesday called for building an economically dominant, energy-independent and environmentally resilient Pakistan, declaring that the country will harness its resources, technology and human capital to secure a prosperous future. Addressing the dome placement ceremony of the Chashma-5 Nuclear Power Plant (C-5), the prime minister described the milestone as a reflection of Pakistan's determination to shape its own future through hard work, technologic

Middle East Oil Price War Heralds Post-Conflict Glut

Middle East oil producers are slashing prices to attract buyers as a sharp recovery in flows through the Strait of Hormuz tips the global crude market toward oversupply - a preview of the crowded, hyper-competitive oil market that the Iran war may leave in its wake.The slump followed the electoral rout of US President Donald Trump's Republican Party in the US midterm elections, which raised expectations that Washington could swiftly de-escalate the war that has upended energy markets since

Rs220bn Petroleum Levy Collected In July-August

The government collected Rs220 billion through the Petroleum Levy during the first two months (July and August) of the current fiscal year (2026-27). The government is still negotiating with Jamaat-e-Islami on ways to reduce the petroleum levy.However, the budgetary framework for 2026-27, agreed with the International Monetary Fund (IMF) under the $7 billion Extended Fund Facility (EFF), leaves little fiscal space for reducing the levy at this stage. It remains unclear how the government intends

Pakistan, Saudi Arabia investors launch fund to boost trade, investment

A joint council of Saudi Arabian and Pakistani investors launched a private equity fund on Monday as part of a wider push to deepen two-way private sector trade and investment. The Saudi-Pakistan Joint Business Council, formed by the governments of both countries, stated that the fund's initial size is in the hundreds of millions of dollars, with expectations for expansion based on sectoral opportunities.According to the council, 75 percent of the fund will be invested in Pakistan, while th

China Reaffirms Commitment To Completing China-Pakistan Economic Corridor (CPEC)

China has reaffirmed its commitment to completing the China-Pakistan Economic Corridor (CPEC), stating that its strategic partnership with Pakistan continues to grow and no external power can undermine the longstanding friendship between the two countries. A Chinese official stated that China is expanding facilities at Gwadar Port and undertaking infrastructure and social development projects to improve the living conditions of the local population, including the construction of a hospital, prov

PM Raises Youth Loan Ceiling To Rs25m

ISLAMABAD / LAHORE: Prime Minister Shehbaz Sharif on Sunday raised the maximum loan limit under the Prime Minister's Youth Business and Agriculture Loan Schemes from Rs7.5 million to Rs25 million, reduced the minimum eligibility age from 21 to 18 years and directed that 30pc of loans be reserved for women to promote youth entrepreneurship and economic empowerment.Chairing a review meeting on the schemes, he directed the relevant authorities to facilitate young people in establishing busines

Pakistani Drugmaker Secures Second WHO Prequalification for Manufacturing Site

A Pakistani pharmaceutical company has secured World Health Organisation (WHO) prequalification for its Astola manufacturing facility on November 2, 2026, becoming its second production site to receive international recognition, its executive chairman Khalid Mahmood announced on Saturday. Addressing physicians, surgeons, and healthcare professionals at the Astola facility, Khalid Mahmood described the achievement as a major milestone for Pakistan's pharmaceutical industry, stating it would

A Revolving Door To Economic Ruin

Pakistan has developed an unusual economic model: governments come and go, creditors stay and the debts grow larger. According to the World Bank's International Debt Report 2026, the country's external debt rose from $68.7 billion in 2015 to $135.1 billion in 2025.China remains its largest individual creditor, followed by the World Bank and Asian Development Bank (ADB). Meanwhile, public liabilities, including domestic borrowing, have crossed the psychologically alarming threshold of R

LPG Prices and Shortages Leave Consumers in the Cold

Prices and supplies of Liquefied Petroleum Gas (LPG) are under unprecedented pressure amid high winter demand, leaving hapless consumers to contend with higher costs and limited availability. Households that rely on LPG for cooking are entering winter amid a familiar squeeze: the regulator's announced price and the amount consumers actually pay have diverged sharply, with the gap widening as demand peaks.For November, the Oil and Gas Regulatory Authority (OGRA) set the official LPG price at

Hafiz Naeem Says Jamaat-e-Islami Forcing Government To Reduce Petroleum Prices

Jamaat-e-Islami Emir Hafiz Naeemur Rehman has demanded the immediate abolition of the petroleum levy, terming it an extortionist tax on the public, and rejected the federal government's token relief measures as insufficient. Addressing a press conference at the party's headquarters, Idara Noor-e-Haq, on Saturday, the Jamaat-e-Islami chief criticised the government for collecting staggering revenues while offering minimal pass-through benefits to citizens."The government collected

Experts Call For Linking Women's Skills With Jobs And Financial Support

Women empowerment programmes must go beyond training to connect women with jobs, market opportunities, and access to finance, while recognising their care responsibilities, experts said on Saturday at the 29th Sustainable Development Conference hosted by the Sustainable Development Policy Institute (SDPI). Chairing a session on women's skills and livelihoods, MNA Shaista Pervaiz Malik identified industry-relevant skills, public safety, market linkages, and access to capital as key prioritie

US Urges China To Meet Rare Earths, Agriculture Commitments Ahead Of Trump-Xi Meetings

The Trump administration warned a top Chinese official on Friday that Beijing must immediately implement its commitments under a nearly year-old trade agreement, particularly on delivery of rare earths and other critical minerals and agricultural purchases, the US Trade Representative's Office said.Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer urged Chinese Vice Premier He Lifeng in a call to implement terms of the pact agreed in Busan, South Korea, in October

Govt Unveils New Auto Policy To Promote EVs, Make Cars Affordable For Middle Class

The federal government on Friday announced a new policy with a particular focus on affordable vehicles and electric vehicles (EVs). Addressing a joint press conference in Islamabad, Information...

Government Unveils Framework for Transparent LPG Auctions

The government has rolled out a new auction system for locally produced liquefied petroleum gas (LPG), under which 90% of output will be sold through a competitive bidding process open to media scrutiny. This decision was discussed during the first meeting of a committee established to ensure transparent LPG auctions, where Minister of State for Petroleum Ali Pervaiz Malik stated that addressing public concerns over fuel availability and unfair pricing is a government priority.The minister empha

Government Introduces Transparent Auction Mechanism for Locally Produced LPG