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CategoriesNews Economy Investment Trade

Pakistan, Canada Review Trade and Investment Cooperation

ISLAMABAD: Pakistan and Canada have reviewed the status of bilateral trade and investment cooperation during a telephonic conversation between Commerce Minister Jam Kamal Khan and Canada’s Minister of International Trade Maninder Sidhu. The discussion focused on strengthening economic engagement and expanding collaboration across multiple sectors.

Both sides acknowledged ongoing trade ties and discussed measures to enhance market access and facilitate smoother commercial exchanges. Canadian authorities appreciated Pakistan’s support in enabling the resumption of canola shipments, describing it as a positive development for agricultural trade between the two countries.

The dialogue also explored opportunities to diversify trade beyond traditional areas. Pakistan highlighted its export capabilities in textiles and apparel, leather goods, agro-based products, surgical instruments, sports goods, paper, plastics, and footwear. The country’s growing capacity in value-added food processing and higher-value manufacturing segments was also outlined.

Investment prospects were discussed, particularly in the minerals and mining sector, which Pakistan identified as a priority area for industrial development. Canadian firms were encouraged to explore potential ventures in this field as part of broader economic cooperation.

Officials from both countries agreed to continue engagement at technical and policy levels to identify priority areas and address trade-related matters. The interaction reflects ongoing efforts by Islamabad and Ottawa to expand bilateral economic relations and explore new avenues for collaboration in trade and investment.

The meeting was also attended by senior officials, including representatives from diplomatic and trade missions, as part of continued dialogue between the two governments on economic cooperation.

CategoriesNews Entertainment Investment Tourism

Basant Generates Significant Short-Term Economic Activity in Lahore

LAHORE: City’s long-awaited Basant revival has triggered a remarkable surge in commercial activity, with kite and string sales surpassing Rs1.5 billion within the first five days of trading.

According to the Kite Flying Association, daily trade volumes climbed steadily from Rs160 million on the first day to Rs180 million on the second and Rs200 million on the third, before jumping sharply to Rs680 million on the fourth day alone. By the fifth day, cumulative sales had crossed Rs1.5 billion, reflecting strong consumer demand ahead of the festival’s official start on February 6.

On the fourth trading day, more than one million kites were sold in Lahore, alongside over 20,000 spools of string (pinna). Despite rising prices, demand remained resilient. A one-and-a-half tawa kite was priced at Rs700, a one tawa kite at Rs400, and a pauna tawa kite at Rs300. Two-piece string spools ranged between Rs12,000 and Rs15,000, depending on quality and length.

Traditional commercial hubs such as Mochi Gate, Islampura, Samanabad, Delhi Gate, Shah Alam Market, and Anarkali reported heavy footfall, while Liberty Chowk emerged as a prominent focal point of public celebrations. Markets remained active late into the night as buyers stocked up on kites, spools, and decorations.

The festival’s revival has extended beyond rooftops into public spaces, marked by fireworks displays, decorative installations, and large gatherings across the city. Punjab Chief Minister Maryam Nawaz visited Liberty Chowk and Mochi Gate, affirming that safety rods for motorcycles would be mandatory during Basant, though motorcycles themselves would not be banned.

After nearly 25 years, Basant’s return has not only revived a cultural tradition but also generated substantial economic momentum across Lahore’s retail and informal sectors.

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Pakistan–Uzbekistan Economic Ties
CategoriesNews Developments Economy Investment Trade

$3.4bn Agreements Boost Pakistan-Uzbekistan Economic Ties, $2bn Trade Target

ISLAMABAD: Pakistan and Uzbekistan signed Business-to-Business (B2B) agreements worth $3.4 billion at the Pakistan–Uzbekistan Business Forum in Islamabad, marking a major step forward in bilateral economic cooperation.

The forum was attended by Prime Minister Shehbaz Sharif and visiting Uzbek President Shavkat Mirziyoyev, who is on a two-day state visit to Pakistan. Addressing business leaders and ministers from both sides, Prime Minister Sharif invited Uzbek firms to explore investment opportunities in Pakistan’s textile, pharmaceutical, mining, agriculture and tourism sectors.

The private-sector agreements span multiple industries, including textiles, pharmaceuticals, leather, engineering goods, and agriculture. Both leaders assured investors of a conducive business environment and pledged zero tolerance for corruption and bureaucratic hurdles. Prime Minister Sharif described himself as the “CEO of Pakistan” for the forum and assured business leaders that any bottlenecks would be removed promptly.

The two countries also signed a protocol to raise bilateral trade to $2 billion within five years. Both sides termed the target “ambitious yet achievable,” emphasizing that structured programs and policy frameworks are already in place to facilitate growth. Uzbekistan offered 10-year tax exemptions and support to Pakistani pharmaceutical companies and invited Pakistani expertise to manage approximately 30 high-tech textile enterprises.

Connectivity remained a central focus during the visit. Both countries reaffirmed their commitment to the Uzbekistan–Afghanistan–Pakistan (UAP) Railway Project and endorsed the Termiz–Kharlachi route, recognizing its importance for regional integration and trade expansion.

In addition, the Anti-Corruption Agency of Uzbekistan and Pakistan’s National Accountability Bureau signed an MoU to strengthen cooperation against corruption. Later, President Asif Ali Zardari conferred the Nishan-e-Pakistan upon President Mirziyoyev in recognition of his efforts to strengthen bilateral ties.

The visit underscored a shared commitment to deepening strategic partnership and expanding economic collaboration between the two countries.

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CategoriesNews Economy Investment

SBP Completes Redesign of Banknotes with Enhanced Security Features

ISLAMABAD: The State Bank of Pakistan (SBP) has completed the development of new banknote designs incorporating updated security elements and has submitted them to the federal cabinet for formal approval. The progress was shared during a meeting of the Senate Standing Committee on Finance and Revenue.

According to SBP Governor Jameel Ahmad, the proposed designs have already been cleared by the central bank’s board. He informed lawmakers that the printing process will commence once the cabinet grants its approval. The introduction of the new notes into circulation will take place gradually, beginning after sufficient stock has been produced to replace existing notes.

The redesign initiative is intended to strengthen safeguards against counterfeiting and modernise Pakistan’s currency framework. Officials indicated that more than one denomination may be printed at the same time; however, no details were provided regarding which notes will be released first.

At present, currency denominations in circulation include Rs10, Rs20, Rs50, Rs75, Rs100, Rs500, Rs1,000 and Rs5,000. The committee session, chaired by Senator Saleem Mandviwala, also addressed matters related to financial oversight and regulatory administration.

In a separate development, the SBP’s Monetary Policy Committee decided to maintain the benchmark interest rate at 10.5 percent in its first meeting of 2026. The rollout of the redesigned currency will proceed once the necessary approvals are completed and production benchmarks are achieved.

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CategoriesConstruction News Urban Developments & Planning

ECNEC Clears Rs240 Billion Package for Health, Transport, Energy and Skills Projects

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) has given the green light to four public sector development projects with a total estimated cost exceeding Rs240 billion. The approvals were granted during a meeting chaired by Deputy Prime Minister Ishaq Dar, according to an official release.

One of the key initiatives involves expanding cardiac care facilities at a major medical institute in Rawalpindi, aimed at strengthening specialised healthcare services and increasing treatment capacity.

The committee also approved a nationwide youth-focused skills programme intended to enhance vocational and technical training opportunities. The initiative is designed to equip young people with market-relevant skills to improve employability.

In the transport sector, ECNEC endorsed the development of a new bus rapid transit corridor in Karachi. The project is expected to support urban mobility by providing an organised public transport system along a key route in the city.

Additionally, a hydropower project with a planned generation capacity of 34.5 megawatts in Gilgit-Baltistan received approval. The scheme is expected to contribute to regional electricity supply and support local infrastructure development.

The meeting was attended by federal and provincial officials, including representatives from finance, planning, water resources, defence, and technical training institutions. The approved projects span multiple sectors, reflecting ongoing efforts to address infrastructure, energy, healthcare, and workforce development needs through public investment.

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CategoriesNews Construction Developments Economy Investment Urban Developments & Planning

Balochistan Government Establishing Business Facilitation Centre in Gwadar

GWADAR: The Balochistan government is in the process of setting up a Business Facilitation Centre (BFC) in Gwadar to provide administrative and regulatory services to the business community. The facility is expected to become operational in the near future.

The centre will operate as a one-window platform, bringing together representatives from various government departments to process applications and approvals required for business activities. Services to be offered include the issuance of no-objection certificates (NOCs), licenses, permits, and other regulatory clearances needed to initiate or expand commercial operations.

A digital coordination system is being introduced to connect relevant departments and support the processing of applications. Business Facilitation Officers will be stationed at the centre to assist applicants and manage documentation and procedural requirements.

The initiative is part of ongoing administrative measures aimed at improving service delivery for investors and businesses operating in Gwadar. The centre is intended to centralise procedures that are currently handled by multiple offices.

The decision to establish the facility was discussed during meetings between representatives of the business community and provincial authorities responsible for investment and trade. The Business Facilitation Centre will function as a dedicated point of contact for investors seeking regulatory approvals related to business operations in Gwadar.

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CategoriesNews Developments Urban Developments & Planning

Rawalpindi Begins Major Beautification of Raja Bazaar and Commercial Market

RAWALPINDI: The Rawalpindi Municipal Corporation (RMC) is nearing completion of a large-scale urban upgrade in the historic Raja Bazaar and the city’s busy Commercial Avenue Market, with most underground utility work already finished and beautification efforts now underway.

Municipal officials report that around 80 percent of underground cabling has been completed along the key commercial stretch of Raja Bazaar, while nearly 90 percent of similar work has been finalised in Commercial Avenue Market. The project, valued at Rs875 million, is scheduled for completion by May 30, with the transformed areas expected to reopen to the public in June.

The next phase in Raja Bazaar includes restoring old building façades, installing uniform signboards, constructing tuff-tiled pedestrian walkways, upgrading pavements, and adding public washrooms and seating areas. Decorative lighting, flower pots, and greenery will also be introduced to improve the visual appeal. Once finished, the market will operate as a pedestrian-friendly walking street.

In Commercial Avenue Market, beautification has begun following the relocation of utilities. Similar improvements are planned to enhance infrastructure and create a more organised shopping environment.

Officials say the initiative, launched under Punjab’s broader urban improvement drive, aims to boost cleanliness, modernise infrastructure, and create a healthier and more attractive setting for residents and visitors. Authorities believe the revamped markets will encourage increased foot traffic and commercial activity, positioning both locations as vibrant, accessible urban destinations.

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CategoriesNews Taxes

FBR Tax Collection Rises 16% in January to Rs1.03 Trillion

ISLAMABAD: The Federal Board of Revenue (FBR) recorded a notable rise in tax collection during January, signalling renewed momentum in Pakistan’s revenue performance. The authority collected Rs1.031 trillion for the month, reflecting a 16 percent increase compared to the same period last year. Although the figure fell slightly short of the monthly target, it points to strengthening fiscal trends heading into the second half of the financial year.

Officials reported particularly strong gains in direct taxation, while indirect taxes showed moderate improvement. January’s income tax receipts posted an impressive 26 per cent year-on-year surge, indicating better enforcement and progress in resolving outstanding tax matters. Sales tax collection also grew by 12 per cent, supported by a rebound in large-scale manufacturing activity.

For the first seven months of FY26, total tax collection reached Rs7.176 trillion, representing an 11 per cent increase from the previous year, though still below the projected target. Shortfalls were largely linked to weaker domestic sales tax performance and earlier uncertainty surrounding the super tax. A recent court decision upholding the levy is expected to generate significant additional revenue, helping narrow the gap in the coming months.

Refund disbursements rose moderately during the period, reflecting improved processing and compliance mechanisms. Federal Excise Duty outperformed expectations, while income tax, sales tax, and customs duties all registered year-on-year growth despite missing individual targets.

FBR officials attribute the improved performance to ongoing structural reforms, expanded digital monitoring, and enhanced enforcement efforts that are broadening the tax base and encouraging voluntary compliance. With economic activity gradually picking up, authorities remain hopeful that sustained growth in manufacturing and trade will help the country move closer to achieving its full-year revenue objectives.

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Industrialists Welcome PM’s Relief Package
CategoriesNews Economy Investment

Industrialists Welcome PM’s Relief Package as FBR Demands Raise Concerns

KARACHI: Business leaders across Pakistan have welcomed the relief package announced by Prime Minister Shehbaz Sharif, calling it a timely intervention to ease mounting cost pressures on industry and exporters. However, foreign investors have simultaneously raised concerns over fresh tax demands issued by the Federal Board of Revenue (FBR).

The prime minister’s package includes a reduction of Rs4.04 per unit in electricity tariffs for industry, lower wheeling charges, and a cut in the export refinance scheme rate from 7.5% to 4.5%. Exporters will also receive “blue passports” to facilitate international business travel.

While domestic industry leaders described the measures as bold and supportive, the Overseas Investors Chamber of Commerce and Industry (OICCI) urged authorities to show flexibility on tax compliance deadlines. Its chief executive, M. Abdul Aleem, suggested that outstanding super tax demands be adjusted against pending tax refunds before requiring additional payments, calling for a more business-friendly approach.

Export associations echoed the positive sentiment. Representatives of the Pakistan Hosiery Manufacturers and Exporters Association said the energy and financing relief would help struggling exporters remain competitive amid high global cost pressures and liquidity constraints.

Similarly, the Korangi Association of Trade and Industry noted that lower power tariffs and cheaper financing could stimulate production, revive industrial activity, and support export growth.

Despite fiscal challenges, the relief package has been widely viewed as a step toward stabilizing industry, though tax policy uncertainties continue to weigh on investor confidence.

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CategoriesNews Economy Investment

Gold, Silver Prices Plunge After Record Rally, Wiping Out $3.4 Trillion in Value

Global gold and silver markets experienced a sharp reversal after a historic price rally earlier this week, erasing roughly $3.4 trillion in market value as investors rushed to take profits and reduce exposure to volatile assets.

Precious metals had surged to unprecedented levels in recent sessions, with gold approaching around $5,600 per ounce and silver crossing above $120 per ounce, benchmarks rarely seen outside exceptional market conditions. However, a broad sell-off in major equities, particularly in U.S. technology and artificial intelligence sectors, dampened risk sentiment and triggered significant declines in commodity trading.

Gold prices fell sharply from their record peak, retreating by nearly $500 per ounce in recent trading. Silver also surrendered gains, sliding after reaching new highs that had drawn speculative interest from investors seeking safe-haven assets amid global uncertainty.

Analysts note that the steep drop highlights how rapidly prices can adjust after an intense surge driven by speculative inflows. Bullion markets, which saw unprecedented turnover and record trading volumes in the weeks leading up to the retreat, reacted sensitively to shifts in broader financial markets as traders recalibrated positions and exited volatile holdings.

Despite the recent pullback, longer-term factors such as geopolitical tensions, inflationary pressures, and ongoing central bank purchases continue to lend structural support to gold and silver. Still, the swift reversal serves as a reminder that even traditionally defensive assets can experience dramatic price swings when market sentiment shifts.

Investors are watching closely to see whether the latest correction signals a temporary pullback or the beginning of a wider recalibration in precious metals markets.