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                        <title>Latest Business News and Business News Headlines | Business</title>
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			<title>Govt cuts petrol by Rs3.93, keeps diesel unchanged till Oct 19</title>
			<link>https://tribune.com.pk/story/2635252/govt-cuts-petrol-by-rs393-keeps-diesel-unchanged-till-oct-19</link>
			<comments>https://tribune.com.pk/story/2635252/govt-cuts-petrol-by-rs393-keeps-diesel-unchanged-till-oct-19#comments</comments>
			<pubDate>Fri, 16 Oct 26 17:34:37 +0500</pubDate>
			<dc:creator>
				<![CDATA[Web Desk]]>
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			<category><![CDATA[Pakistan]]></category>
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				<![CDATA[Petrol price decreases to Rs386.30 per litre, while HSD will cost Rs396.96 under daily price mechanism]]>
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				<![CDATA[The federal government on Friday&nbsp;decreased the price of petrol by Rs3.93&nbsp;per litre, while keeping&nbsp;the price of high-speed diesel (HSD) unchanged&nbsp;till&nbsp;October 19.

According to a notification issued by the Petroleum Division, the price of petrol was fixed at Rs386.30&nbsp;per litre, while HSD would cost Rs396.96&nbsp;per litre from October 17&nbsp;to October 19.

The latest revision comes a day after the government&nbsp;decreased the price of petrol by Rs3.63 per litre, while increasing the price of HSD&nbsp;by 31 paisas per litre for October 16.

Read:&nbsp;Govt cuts petrol by Rs3.63, increases diesel by 31 paisas for Oct 16

On July 17, the government announced a new pricing mechanism under which petroleum product prices would be reviewed and notified daily, replacing the weekly pricing mechanism, as renewed tensions between the United States and Iran continued to drive volatility in global oil markets and raise concerns over fuel supplies.

On September 13, PM Shehbaz announced a special relief scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc, in an attempt to shield lower-income consumers from the impact of rising petroleum prices.

Under the proposal, an estimated 11.8 million beneficiaries would be covered. Around 10 million two-wheeler users and 800,000 three-wheeler users would be entitled to relief on 20 litres of fuel per month, translating into a maximum monthly benefit of Rs2,000 per beneficiary.

Another one million users of cars up to 800cc would receive relief on 30 litres per month, providing them with a maximum benefit of Rs3,000 each.

On Sept 17, the government reintroduced austerity and fuel conservation measures amid rising fuel prices, tightening business operating hours and restricting public events.

Under the measures, notified with immediate effect, shops, markets, shopping malls, bazaars, departmental stores, grocery stores, general stores and kiryana shops would close by 9pm throughout the week, according to a notification issued by the Cabinet Division.

Marriage halls, marquees and other commercial venues hosting festive events would close by 10pm, while restaurants, cafes, eateries, food outlets and standalone fruit and vegetable shops would be allowed to operate until 11pm. Takeaway and home delivery services would remain exempt from the timing restrictions.

Global geopolitical developments continue to pose significant risks. International oil prices are influenced by decisions taken by OPEC+, conflicts in the Middle East, sanctions on oil-producing nations, and disruptions in critical shipping routes such as the Strait of Hormuz and the Red Sea. Any interruption in these supply chains can immediately increase crude oil prices and freight costs. Since Pakistan imports the majority of its petroleum requirements, these developments quickly translate into higher domestic fuel prices.

Oil prices gained more than 3% and were heading for weekly gains on &zwnj;continued uncertainty over Middle East supplies, and as investors kept assessing how much diesel Russia could supply to the global markets.

Brent crude futures were up $3.41, or 3.2%, at $109.34 at 12:41 pm&nbsp;ET (1641 GMT), while US West Texas Intermediate crude futures ​rose $2.74, or 2.8%, to $100.67, crossing $100 for the first time since September 21.

&quot;Conflict in the Middle East still keeps coming ⁠back, and I think it&#39;s questionable how much diesel fuel Russia can actually deliver to the markets. ​Those two factors are just continuing to have traders be buyers,&quot; said Dennis Kissler, senior vice president of ​trading at BOK Financial.

&nbsp;]]>
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			<title>Pakistan to chair IMF, World Bank boards in 2027 for first time since 1953</title>
			<link>https://tribune.com.pk/story/2635184/pakistan-to-chair-imf-world-bank-boards-in-2027-for-first-time-since-1953</link>
			<comments>https://tribune.com.pk/story/2635184/pakistan-to-chair-imf-world-bank-boards-in-2027-for-first-time-since-1953#comments</comments>
			<pubDate>Fri, 16 Oct 26 07:57:46 +0500</pubDate>
			<dc:creator>
				<![CDATA[Web Desk]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Ahad Cheema says Pakistan will work to amplify voice of developing countries, ensure provision of development finance]]>
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				<![CDATA[Pakistan will chair the boards of governors of the World Bank Group (WBG) and the International Monetary Fund (IMF) in 2027 for the first time since 1953, with Economic Affairs Minister Ahad Khan Cheema nominated to lead both institutions&rsquo; boards for the year, the Ministry of Economic Affairs said on Friday.

The announcement was made during the plenary session of the annual meetings of the WBG&nbsp;and the IMF in Bangkok, Thailand.

The ministry said Cheema had been briefed by the WBG&rsquo;s Corporate Secretariat on the responsibilities of the chairmanship. He also met WBG Vice-President and Corporate Secretary Aradhana Kumar Capoor to discuss institutional support and coordination during Pakistan&rsquo;s tenure.

Cheema also met outgoing chairman Carlos Carvalho Spalding and congratulated him on successfully completing his term. The two discussed the responsibilities of the chairmanship and priorities for the coming year, the ministry added.

Cheema said Pakistan would work to amplify the voice of developing countries and ensure the effective and predictable provision of development finance.

He said Pakistan remained committed to improving coordination among multilateral development institutions and sought to mobilise private investment to support sustainable and inclusive growth.

Pakistan would work with the WBG, the IMF and member countries to strengthen the multilateral development and financial system, Cheema said.

The annual meetings of the International Monetary Fund (IMF) and the World Bank Group are being held in Bangkok, Thailand, with Pakistan&rsquo;s delegation, led by Finance Minister Muhammad Aurangzeb, engaging with international lenders, investors and development partners on economic reforms, financing and investment opportunities.

During the meetings, Aurangzeb highlighted Pakistan&rsquo;s fiscal deficit falling to a 22-year low, three consecutive years of primary surpluses and improved foreign exchange reserves, while reaffirming the government&rsquo;s commitment to structural reforms and sustainable, export-led growth. Pakistan has also called for reforms to the international financial system to make multilateral institutions more representative and responsive to the needs of developing countries.

Aurangzeb meets World Bank chief 

Finance and Revenue Minister Muhammad Aurangzeb met World Bank Group President Ajay Banga at a dinner hosted by Thailand&rsquo;s prime minister on the sidelines of the World Bank Group&ndash;IMF Annual Meetings 2026 in Bangkok, Pakistan Television said in a post on X.



Federal Minister for Finance and Revenue Muhammad Aurangzeb met with Ajay Banga, President of the World Bank Group, during a dinner hosted by the Prime Minister of Thailand on the sidelines of the World Bank Group&ndash;IMF Annual Meetings 2026 in Bangkok. The occasion provided an&hellip; pic.twitter.com/1HmQQhjate
&mdash; Pakistan TV (@PakTVGlobal) October 16, 2026


&ldquo;The occasion provided an opportunity for informal interaction alongside the ongoing high-level engagements at the annual meetings,&rdquo; the post said.]]>
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			<title>PSX edges 233 points higher to close at 166,419 points </title>
			<link>https://tribune.com.pk/story/2635189/psx-edges-higher-to-166533-points</link>
			<comments>https://tribune.com.pk/story/2635189/psx-edges-higher-to-166533-points#comments</comments>
			<pubDate>Fri, 16 Oct 26 08:56:53 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[KSE-100 Index opened near the previous close of 166,186.16]]>
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				<![CDATA[The Pakistan Stock Exchange&rsquo;s benchmark KSE-100 Index rose 233.55&nbsp;points&nbsp;to close at 166,419.72&nbsp;on Friday.

The index had opened near the previous close of 166,186.16 and traded in a range of 165,956.51 to 166,663 during the session. Volume stood at 45.71 million shares with a traded value of roughly Rs3.53 billion at the time of suspension.

Market participants attributed the modest advance to selective buying in a handful of large-cap counters, although overall activity remained measured ahead of the midday break. The suspension is a regular feature of the trading calendar on Fridays.

With the index holding above the 166,000 level, the session reflected cautious optimism rather than aggressive risk-taking in the first half. Traders noted that further direction would depend on the tone after the resumption of trading later in the afternoon, particularly if volume picks up in key sectors.]]>
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			<title>Oil heads for weekly gain with Mideast supply risks</title>
			<link>https://tribune.com.pk/story/2635163/oil-heads-for-weekly-gain-with-mideast-supply-risks</link>
			<comments>https://tribune.com.pk/story/2635163/oil-heads-for-weekly-gain-with-mideast-supply-risks#comments</comments>
			<pubDate>Fri, 16 Oct 26 05:33:56 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Brent crude futures fall 71 cents, or 0.67%, to $105.21 a barrel]]>
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				<![CDATA[Oil prices eased on Friday ​but were heading for weekly gains on the uncertainty over Middle East supplies and a larger-than-expected crude &zwnj;stocks draw in the United States.

Brent crude futures fell 71 cents, or 0.67%, to $105.21 a barrel, while US West Texas Intermediate crude futures were down 77 cents, or 0.79%, to $97.20.

WTI settled up more than 3% on Thursday after a big US crude stock ​draw on hurricane production shut-ins.

For this week so far, Brent increased 0.44%, while WTI jumped 5.81%.

&quot;Uncertainty in the ​Middle East and concerns over the sustainability of oil flows through the Strait of Hormuz ⁠has the market pricing in a significant risk premium,&quot; ING analysts wrote in a note on Friday.

There needs to be ​some kind of agreement between the US and Iran to provide the market with more confidence that stronger oil flows ​from the region will continue, they added.

Supply jitters also rose as attacks around the Strait of Hormuz have surged over the past 10 days, with Iran saying it was stepping up strikes in response to the US blockade of its ports and tougher sanctions introduced last month.

Total Hormuz ​clearance averaged 11.62 million barrels per day over seven days to October 13, about 68% of the 17.15 million ​bpd baseline, according to ship tracking firm Kpler.

&quot;Intensified Iranian attacks drove Gulf crude flows sharply lower,&quot; Kpler analysts said in a report on &zwnj;Thursday, ⁠adding that they expected a slower and more uneven Hormuz recovery, without a comprehensive political deal.

Read:&nbsp;Oil prices climb as Iran deploys new tactics to target ships transiting Hormuz

The Houthis fired missiles at the presidential palace complex in the southern city of Aden on Thursday, killing two guards, while the Saudi-led coalition in Yemen detailed dozens of attacks on Saudi infrastructure in the escalating conflict.

The International Energy Agency agreed on Thursday to release over 20 ​million barrels of diesel to the ​market and any oil ⁠remaining from a record release of emergency reserves pledged in March to boost supply and cool soaring prices.

During the previous trading session, oil prices rose overnight in a sign that &quot;investors ​were dissatisfied with these measures,&quot; Haitong Futures said in a note on Friday.

&quot;What would ​really cool the ⁠oil market is an easing of tensions in the Middle East.&quot;

The Trump administration is considering lifting sanctions on some so-called shadow fleet vessels that have transported oil and petroleum products from countries including Russia, Iran and Venezuela, in an effort to reduce record-high ⁠global freight ​rates, a US official said on Wednesday.

The discussions come days after US ​President Donald Trump temporarily lifted sanctions on Russian diesel fuel, a move met with criticism from Ukrainian President Volodymyr Zelenskiy, European countries and some of ​Trump&#39;s fellow Republicans.]]>
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			<title>New tax agency under consideration</title>
			<link>https://tribune.com.pk/story/2635087/new-tax-agency-under-consideration</link>
			<comments>https://tribune.com.pk/story/2635087/new-tax-agency-under-consideration#comments</comments>
			<pubDate>Thu, 15 Oct 26 22:01:00 +0500</pubDate>
			<dc:creator>
				<![CDATA[Shahbaz Rana]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[FBR to present overhaul plan on Oct 19; current target being missed by Rs650b]]>
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				<![CDATA[The government is considering establishing a new tax collection agency, or further restructuring the existing machinery, after finding the Federal Board of Revenue&#39;s (FBR) performance unsatisfactory despite repeated reform attempts.

The FBR will present &quot;comprehensive proposals on HR reforms, revamping and restructuring&quot; to the prime minister on October 19, according to directives issued by the Prime Minister&#39;s Office on Thursday.

Government officials said the idea of an altogether new organisation was floated at a meeting at the highest level last Saturday. Internal discussions have since begun, with FBR Chairman Rashid Langrial tasking officers to prepare a plan for Prime Minister Shehbaz Sharif.

When asked whether a new agency was under consideration, the FBR spokesperson said: &quot;The FBR&#39;s reform is a robust and ongoing process, and dozens of ideas and proposals come under discussion.&quot; He added that &quot;until any of them becomes a formally approved policy, no comment can be made&quot;.

In a second reply on the same issue, the FBR confirmed the prime minister had directed it to bring forward comprehensive proposals for human resource reform and restructuring, adding that work was under way.

&quot;The government&#39;s aim is a stronger, more efficient and more taxpayer-friendly FBR, and the prime minister is personally overseeing an ongoing reform process to that end,&quot; it said.

The FBR further said substantial reforms had been put in place across people, technology and processes, and that to build on these and fill the remaining gaps, the prime minister had directed the FBR to bring forward comprehensive proposals. Work was under way, it said.

The FBR said the focus was on reforming the board itself and denied &quot;talk of outsourcing revenue collection function to a private company&quot;, calling it &quot;totally baseless&quot;.

Sources said discussions were at an initial stage, with no concrete proposal finalised on the future shape of the FBR or a revenue agency. Setting up a national tax agency was among the discussion points.

Any decision to transfer the FBR&#39;s powers to a new agency would require amendments to a host of laws, including the FBR Act 2007 and at least four tax laws.

Reform attempts since 2000 include restructuring the Central Board of Revenue into the FBR, merging service cadres, redefining the entity on functional lines and, in 2024, an over Rs55 billion transformation plan. During the caretaker setup, an attempt was also made to split the FBR into Customs and Inland Revenues.

According to an official involved in the deliberations, the thinking so far is that the FBR would not be dissolved, and officers who do not opt for a new body would remain until retirement.

Sources said a narrow tax base, a stagnant tax-to-GDP ratio and below-par tax collection were among the reasons behind forming a new organisation.

The FBR&#39;s tax-to-GDP ratio remained at 10.3% last fiscal year, and the FBR missed its original annual target by over Rs1.1 trillion.

This year&#39;s target of Rs15.263 trillion requires over 17% growth. The FBR surpassed its first-quarter target but grew at hardly 7%. Sources expect growth of around 12%, a shortfall of over Rs650 billion that would affect planning for over Rs1 trillion in spending under the National Economic Initiative through provincial cash grants.

On the transformation plan&#39;s outcomes, the spokesperson said collection rose from Rs9.2 trillion to Rs13 trillion in two years.However, the reply does not fully reflect ground realities, as the spokesperson has counted the impact of additional taxes and nominal economic growth towards the contribution of the transformation plan. The government imposed one of the highest taxes under the International Monetary Fund (IMF) plan, which in the first year also contributed to an increase in the tax-to-GDP ratio.

Secondly, the Economic Coordination Committee of the Cabinet had approved the first spending package of Rs32.5 billion for six months in November 2024. Out of the Rs32.5 billion, an amount of Rs5.6 billion was approved for buying 1,087 new cars of 1,300cc engine capacity. About Rs19.7 billion were for spending on anti-smuggling initiatives.

For giving up to four extra salaries, the ECC accorded approval for Rs2.5 billion for six months while another Rs3.4 billion had been given for enhancing the FBR&#39;s operational capacity. An annual Rs4 billion is also given for transformation of the Pakistan Automation Revenue Limited (PRAL), with the latest tranche approved this month.

The FBR is also struggling to broaden the tax base. Of the 19 million people who have national tax numbers, only 6.9 million submitted returns by Thursday evening. The 8.5 million returns had been filed in the last tax year.

The government had also launched the fixed tax traders&#39; scheme in the hope of bringing 3.7 million retailers into the net, including one million this year.

However, the FBR spokesperson said that as of Tuesday 137 new traders had filed their returns and paid Rs5 million in taxes, on average Rs36,465 per new trader.

The FBR said many reforms were under implementation. It said on the human resource side, to name just a few, third-party auditors have been engaged from chartered accountancy firms to add capacity, officers are being trained through programmes with institutions such as LUMS, and a new performance management regime now assesses officers on actual results rather than routine ratings.

On the technology and process side, Customs has moved to faceless assessment and Inland Revenue is moving the same way, which reduces discretion and direct contact between officers and taxpayers. Digital invoicing and POS integration now track business transactions in real time, an AI-based risk management system guides selection for audit and clearance, and third-party data is being integrated. These are only some of the many interventions under way.]]>
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			<title>PSX tests resistance after sustained recovery</title>
			<link>https://tribune.com.pk/story/2635095/psx-tests-resistance-after-sustained-recovery</link>
			<comments>https://tribune.com.pk/story/2635095/psx-tests-resistance-after-sustained-recovery#comments</comments>
			<pubDate>Thu, 15 Oct 26 22:01:00 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Extends rally with rise of 769 points as KSE-100 approaches 167,000]]>
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				<![CDATA[Pakistan Stock Exchange (PSX) extended its recovery on Thursday, with the benchmark KSE-100 index gaining almost 770 points to close near 166,190, as renewed buying in index-heavy stocks lifted sentiment. However, the market approached a key resistance zone of 167,000-168,000 points, while fluctuations in international oil prices and geopolitical uncertainties remained key risks.

At the close of trading, the KSE-100 index posted a rise of 768.66 points, or 0.46%, and settled at 166,186.17.

Arif Habib Limited (AHL) note, accompanied by a KSE-100 daily chart, reported that the benchmark index gained 0.46% on the day and continued to approach the 167,000-168,000 resistance zone. Breadth was positive, with 71 shares advancing against 29 decliners. PTCL (up 7.62%), Fauji Fertiliser Company and Systems Ltd contributed the most to the index&#39;s growth, while Engro Holdings, Mari Energies and Service Industries were the principal drags.

The commentary also noted that the ongoing rally was now testing the first significant resistance area for bulls and that, heading into the final session of the week, the KSE-100 stood 0.54% lower. Geopolitical context was included, referencing strains facing Saudi Crown Prince Mohammed bin Salman amid Houthi attacks on Saudi infrastructure and related regional developments.

Topline&#39;s market review observed that the KSE-100 index closed higher on Thursday, gaining 769 points (+0.46%) to settle at 166,186. The index traded within a range of 165,613-166,877, maintaining positive momentum throughout the session amid renewed buying interest.

The market&#39;s recovery was supported by selective accumulation in key index-heavy stocks following recent correction. However, investor sentiment remained cautious amid fluctuations in international oil prices, geopolitical developments, domestic macroeconomic indicators and institutional fund flows.

PTCL, FFC, HUBC, OGDC and SYS emerged as major contributors to the index&#39;s gains, collectively adding approximately 340 points. Market activity remained modest with total volumes reaching 518 million shares, while traded value stood at Rs23.57 billion, Topline said.

KTrade also noted that the KSE-100 extended its positive momentum, closing at 166,186 points, up 0.46% day-on-day, as sentiment improved following a decline in international oil prices. Brent crude traded around $104-105/barrel during the day.

Commercial banks, technology, fertiliser and cement stocks provided strong support to the index. PTCL, FFC, SYS, HUBC and OGDC were among the key contributors to the market momentum. Activity remained healthy, with approximately 175 million shares traded, where CNERGY, PTCL and KEL led the volumes chart with around 63 million, 14 million and 11 million shares, respectively.

&quot;Going forward, investor focus is shifting towards the upcoming results season, with September-quarter result notices beginning to emerge. However, elevated international oil prices remain a key risk to market sentiment,&quot; KTrade said.

Overall trading volumes were recorded at 517.6 million shares compared with the previous session&#39;s tally of 585.9 million. The value of shares traded during the day was Rs23.57 billion.

In the ready market, shares of 501 companies were traded. Of these, 292 stocks closed higher, 169 fell and 40 remained unchanged.

Cnergyico Pk was the volume leader with trading in 62.8 million shares, gaining Rs0.09 to close at Rs12.80. It was followed by Pakistan Refinery with 43.4 million shares, gaining Rs4.57 to close at Rs103.76 and WorldCall Telecom with 19.5 million shares, gaining Rs0.02 to close at Rs0.98. Foreign investors were sellers of a net Rs194.4 million worth of shares, according to the National Clearing Company.]]>
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			<title>Forum backs shift to gigabit universal service</title>
			<link>https://tribune.com.pk/story/2635094/forum-backs-shift-to-gigabit-universal-service</link>
			<comments>https://tribune.com.pk/story/2635094/forum-backs-shift-to-gigabit-universal-service#comments</comments>
			<pubDate>Thu, 15 Oct 26 22:01:00 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Members align USF strategies on fibre, satellite and AI readiness]]>
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				<![CDATA[The Asia-Pacific Telecommunity (APT) Symposium on Digital Transformation and the Universal Service Fund (USF) concluded in Islamabad with member states aligning on a collective roadmap to move universal service funds from traditional voice and basic coverage models towards agile, outcome-oriented frameworks supporting high-speed fibre, gigabit broadband and resilient digital ecosystems, according to a statement issued by the Ministry of Information Technology and Telecommunication (MoITT) on Thursday.

The three-day forum was co-hosted by the ministry and USF Pakistan, bringing together policymakers, regulators and telecom industry leaders from across the region. APT Secretary-General Masanori Kondo announced the conclusion, describing the symposium as a platform for practical exchanges, partnerships and advancing the Tokyo Statement 2025 commitments.

Speakers and experts engaged across 10 sessions on future-proofing universal service funds, shifting from simple infrastructure access to quality, capability and AI readiness. Discussions covered low-cost fibre backhaul, mobile broadband, satellite connectivity and green telecom infrastructure to scale deployment in underserved and rugged terrains.

The forum examined regulatory incentives, device subsidy programmes and financial mechanisms to improve affordability and sustainable financing, making connectivity accessible to low-income households, small enterprises and marginalised communities. Sessions covered targeted policy interventions, digital literacy programmes for women and girls and digital entrepreneurship support to close the gender digital divide.

Stakeholders also stressed empowering local content and ecosystems through culturally appropriate, language-specific digital services and e-government platforms to stimulate local economies and drive digital adoption.

Delegates also deliberated on harnessing emerging technologies, bridging persistent digital divides and driving equitable digital transformation across member states, reviewing regional digital progress under the Tokyo Statement 2025 and aligning regional strategies.

In his closing remarks, USF Pakistan Chief Executive Officer Chaudhary Mudassar Naveed thanked APT for partnering with Pakistan and recognised the Pakistan Telecommunication Authority (PTA), session chairs, panellists and international delegates. Special recognition went to operators and technology partners including Jazz, PTML, Zong, Huawei and GSMA.]]>
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			<title>September FPA capped at Rs2.56/unit</title>
			<link>https://tribune.com.pk/story/2635096/september-fpa-capped-at-rs256unit</link>
			<comments>https://tribune.com.pk/story/2635096/september-fpa-capped-at-rs256unit#comments</comments>
			<pubDate>Thu, 15 Oct 26 22:01:00 +0500</pubDate>
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				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Rs32.7b impact on November bills; RLNG at domestic rates eases burden by 83 paisa]]>
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				<![CDATA[The Ministry of Energy (Power Division) has averted a potential Rs5-6 per unit hike in the September 2026 Fuel Price Adjustment (FPA), limiting the projected adjustment to Rs2.56 per unit despite rising international fuel prices and constraints on liquefied natural gas (LNG) supplies.

The division said targeted load management for approximately two to two-and-a-half hours during September helped reduce reliance on costly alternative fuels, including furnace oil and high-speed diesel, saving consumers from an additional burden of up to Rs3.44 per unit. It added that the provision of imported re-gasified liquefied natural gas (RLNG) for power generation at domestic gas prices eased the burden by a further 83 paisa per unit.

Consequently, the September FPA is expected to be Rs1.45 per unit higher than August, with an estimated financial impact of Rs32.7 billion on consumers&#39; electricity bills in November 2026.

The Power Division said international fuel prices rose sharply amid regional conflict and disruptions following the closure of the Strait of Hormuz. Brent crude prices surged beyond $120 per barrel against the benchmark of around $70 assumed during determination of the base tariff.

Despite Qatar&#39;s force majeure declaration, Pakistan met its RLNG requirements through contracted supplies and additional spot cargoes.

The statement said the combined impact of fuel price and quarterly tariff adjustments during January-August 2026 was limited to 65 paisa per unit, an increase of only 1.9% over the base tariff. It attributed this partly to tariff rationalisation measures and an additional consumption package for industrial and agricultural consumers.]]>
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			<title>Brent holds near $106 as US mulls easing sanctions</title>
			<link>https://tribune.com.pk/story/2635091/brent-holds-near-106-as-us-mulls-easing-sanctions</link>
			<comments>https://tribune.com.pk/story/2635091/brent-holds-near-106-as-us-mulls-easing-sanctions#comments</comments>
			<pubDate>Thu, 15 Oct 26 22:01:00 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2635091</guid>
			<description>
				<![CDATA[US crude stocks plunge 8.6m barrels, lifting WTI prices 3%]]>
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				<![CDATA[Brent crude was little changed on Thursday as investors weighed possible US steps to ease restrictions on the world&#39;s &quot;shadow fleet&quot; of tankers, while conflict in the Middle East kept a geopolitical risk premium in the market.

The international benchmark settled down 14 cents, or 0.13%, at $105.92 a barrel.

US WTI crude futures settled up $2.88, or 3.03%, to $97.97 a barrel, after a large US crude stock draw helped support prices.

The shadow fleet discussions are happening days after President Donald Trump temporarily lifted sanctions on Russian diesel fuel to ease a surge in prices globally. The new talks centre on Washington potentially allowing &quot;legal oil&quot; to flow on previously sanctioned vessels, a US official said.

The Department of Energy said any move to relieve sanctions on the shadow fleet would not help Russia move oil or oil products. The Treasury Department referred questions to the Department of Energy.

US crude stocks and distillate inventories fell while gasoline inventories rose last week, the Energy Information Administration said on Thursday.

Crude inventories fell by 8.6 million barrels to 415.6 million barrels in the week ended October 9, the EIA said, compared with analysts&#39; expectations in a Reuters poll for a 288,000-barrel draw.]]>
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			<title>PSX rebounds, gains 641 points</title>
			<link>https://tribune.com.pk/story/2634892/psx-rebounds-gains-641-points</link>
			<comments>https://tribune.com.pk/story/2634892/psx-rebounds-gains-641-points#comments</comments>
			<pubDate>Wed, 14 Oct 26 22:19:05 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2634892</guid>
			<description>
				<![CDATA[Index-heavy stocks support late recovery following profit-taking]]>
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				<![CDATA[Pakistan Stock Exchange (PSX) staged a sound recovery on Wednesday as renewed buying towards the close lifted the benchmark index firmly into the positive territory, reversing the previous session&#39;s trend after volatile trading amid domestic political uncertainty and rising international oil prices.

The KSE-100 index gained 641.07 points, or 0.39%, and settled at 165,417.51. It touched the intra-day high of 165,629.35 and low of 164,060.34. Earlier, the market opened on a cautious note, with the index rising to 165,032.13, gaining 255.69 points, or 0.16%, by 9:33 am. However, continuous fluctuations pushed it into negative territory and the bourse hit 164,770.12 at 12:38 pm, down 6.32 points.

Sentiment remained subdued amid political uncertainty following the imposition of governor&#39;s rule in Khyber-Pakhtunkhwa. Selling pressure was evident across key sectors; however, fresh buying of index-heavy stocks of banking, oil and gas, and power sectors supported the recovery and helped the market close in the black. Internationally, oil prices climbed after two vessels were struck in the Strait of Hormuz and Iranian officials announced new tactics to target ships as Tehran sought to keep oil prices high ahead of US midterm elections.

KTrade Securities wrote in its market wrap that the KSE-100 index gained 641 points (+0.4%) as oil prices remained stable near $106/barrel and the absence of fresh negative news improved investor sentiment. Despite early gains and subsequent profit-taking, renewed buying towards the close helped the market recover and finish firmly in the green, reversing the previous day&#39;s trend.

Support came from commercial banks, investment banks, cement, fertiliser and refinery stocks, with Engro Holdings, Lucky Cement, Fauji Fertiliser, Bank AL Habib and NBP among the key contributors. Meanwhile, Cnergyico Pk, K-Electric, The Bank of Punjab and TRG Pakistan led individual stock volumes, with total turnover remaining subdued around 150 million shares.

KTrade said low volumes reflected caution due to high oil prices, geopolitical uncertainty and currency concerns, while sustained buying and higher turnover were needed to maintain momentum. &quot;Limited positive activity was observed at the PSX, driven primarily by buying interest in the refinery sector, although overall market participation remained subdued. Investors maintained a cautious stance amid a lack of fresh triggers and persistent geopolitical uncertainty,&quot; commented JS Global analyst Nawaz Ali.

Arif Habib Limited Deputy Head of Trading Ali Najib said value buying and institutional participation in select stocks drove the recovery, lifting the KSE-100 above 165,000. Oman and Iran concluded discussions on a proposed Hormuz deal, but final arrangements depended on US-Iran talks and other outstanding issues, Oman&#39;s foreign minister said. Engro Holdings, Lucky Cement, Fauji Fertiliser, Bank AL Habib and NBP collectively contributed 382 points to the index&#39;s gains, while MCB, Hub Power, Pakistan Oilfields, PTCL and National Foods eroded 134 points.

Najib said the KSE-100&#39;s recovery above 165,000, alongside improved volumes, may offer near-term support, though US-Iran tensions, high oil prices and domestic political uncertainty could fuel volatility and restrict gains.

Overall trading volumes jumped to 585.9 million shares against Tuesday&#39;s total of 383.7 million. The value of traded shares stood at Rs20 billion.]]>
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			<title>Electric bus JV signed with Chinese group</title>
			<link>https://tribune.com.pk/story/2634888/electric-bus-jv-signed-with-chinese-group</link>
			<comments>https://tribune.com.pk/story/2634888/electric-bus-jv-signed-with-chinese-group#comments</comments>
			<pubDate>Wed, 14 Oct 26 22:19:05 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2634888</guid>
			<description>
				<![CDATA[Proposed venture aims to promote technology transfer, develop local manufacturing capabilities]]>
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				<![CDATA[GU GO Motors and Shengtang Group signed a memorandum of understanding for a proposed joint venture to manufacture electric buses in Pakistan, at an event marking the 77th anniversary of the founding of the People&#39;s Republic of China in Islamabad.

Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, who attended as chief guest, said Pakistan and China enjoyed a longstanding friendship founded on mutual trust and respect, and that the next phase of cooperation must translate the relationship into industrial investment, technology transfer, manufacturing and export growth. The proposed venture aims to promote technology transfer, develop local manufacturing capabilities and explore production of export-ready vehicles under the Made in Pakistan banner.

The adviser said electric mobility offered Pakistan opportunities to expand its manufacturing base and develop local supply chains, adding that cooperation with Chinese companies could move the country towards higher-value production.

The event was attended by about 150 dignitaries and a 14-member Chinese business delegation.]]>
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			<title>FinMin presses lenders to cut costs</title>
			<link>https://tribune.com.pk/story/2635092/finmin-presses-lenders-to-cut-costs</link>
			<comments>https://tribune.com.pk/story/2635092/finmin-presses-lenders-to-cut-costs#comments</comments>
			<pubDate>Thu, 15 Oct 26 22:01:00 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2635092</guid>
			<description>
				<![CDATA[ITFC to renegotiate terms as credit profile improves; M6 loan pending signature]]>
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				<![CDATA[Pakistan has secured agreement from the International Islamic Trade Finance Corporation (ITFC) to renegotiate the pricing and volume of its remaining financing tranche, with technical teams set to explore adjustments that align borrowing costs with the country&#39;s improved market conditions, according to statements issued by the Ministry of Finance on Thursday.

The understanding was reached at a meeting between Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and ITFC Chief Executive Officer Adeeb Y Al Aama on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok. Both sides agreed to find a mutually acceptable solution, as Pakistan seeks to replace costly short-term borrowing with longer-maturity financing without increasing external debt.

Separately, discussions with the OPEC Fund for International Development covered M6 motorway financing, including the approved first tranche, the pending loan agreement and subsequent tranches. Fund President Dr Abdulhamid Alkhalifa invited the minister to visit and sign the project agreement, with ML-1 railway modernisation and power transmission infrastructure identified as priorities.

With Chinese Finance Minister Lan Fo&#39;an, the minister reviewed Pakistan&#39;s inaugural Panda Bond issuance, including regulatory support, credit enhancement from the Asian Infrastructure Investment Bank (AIIB), a 2.5% coupon and strong investor demand. He reiterated Pakistan&#39;s intention to be a repeat sovereign issuer in the Chinese capital market, and discussions covered Pakistan&#39;s return to the Eurobond market after four years and further Panda Bond issuances under the approved RMB 7.2 billion programme.

Both discussed Pakistan&#39;s Shanghai Cooperation Organisation (SCO) chairmanship, including the forthcoming summit and the preceding SCO Finance Ministers&#39; Meeting in Islamabad, which Lan said he would attend. They exchanged views on the proposed SCO Development Bank, with China seeking Pakistan&#39;s active participation in consultations and support for consensus. Infrastructure cooperation covered progress towards consensus on proposed changes to the route of a China-Pakistan highway project.

In an interview with Channel News Asia, the minister said Pakistan is shifting from aid to trade and investment across bilateral partnerships, acknowledging support from longstanding partners, particularly Gulf Cooperation Council (GCC) countries. Remittances reached $41.6 billion last year and are expected to rise to $44 billion this year. He said CPEC Phase II focuses on monetising existing infrastructure through business-to-business collaboration, joint ventures and export-oriented production. Pakistan seeks stronger ties with both China and the United States under an &quot;and-and&quot; approach, while expanding engagement with GCC countries, Central Asian republics and ASEAN to unlock regional trade.

In a meeting with Moody&#39;s, the minister welcomed the recent rating upgrade and improved fiscal and external indicators, highlighting renewed access to international capital markets, rising foreign exchange reserves and reduced State Bank forward liabilities. He sought the rating agency&#39;s views on achieving a stronger rating and striking the right balance between political risk and economic performance.

At the JP Morgan Investment Seminar, titled &quot;Pakistan: The Road to Resilience in a Turbulent Global Economy Landscape&quot;, the minister highlighted fiscal consolidation, revenue mobilisation and sustained primary surpluses, alongside strong remittances and a contained current account deficit. Discussions also covered federal-provincial fiscal coordination.

At the Bank of America Small Talks Symposium, he outlined tax administration reforms, broadening the tax base and privatisation, alongside tariff reforms, competitive inputs and targeted financing to promote export-led growth. Discussions covered managing regional conflict, energy-price pressures and climate-related shocks.

With United Nations (UN) Deputy Secretary-General Amina J Mohammed, the minister discussed development financing, debt sustainability and climate resilience. He emphasised a stronger Global South voice, simpler access to climate finance, local currency financing and strengthening the Borrowers&#39; Forum through peer learning and an effective virtual Secretariat. He thanked her for appreciating Pakistan&#39;s mediation in the recent US-Iran crisis.

With Alibaba International Digital Commerce (AIDC) leadership, discussions covered digital payments, a cashless economy and social protection payments. Both sides discussed rationalising e-commerce taxation, accelerating the Pakistan Single Window platform, tracking cross-border payments, and cooperation on cloud infrastructure, artificial intelligence (AI) and tax administration. They explored modernising Pakistan Post&#39;s sorting systems and expanding agricultural exports to China through Alibaba&#39;s retail network.

With International Organization for Migration (IOM) Deputy Director-General SungAh Lee, discussions covered climate mobility, early warning systems, skills training aligned with labour-market demand and safe migration pathways.

With Thai Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, the two discussed increasing bilateral trade, cultural ties, two-way tourism and resuming high-level exchanges.

In the Atlantic Council conversation, the minister said tax revenues rose 40% over two fiscal years, with the tax-to-GDP ratio at approximately 10.3%, supported by digitalisation and structural reforms. Privatisation of power distribution companies and airport outsourcing are advancing, alongside growing private-sector and foreign investor interest. Rs838 billion has been allocated to the Benazir Income Support Programme (BISP). He said Pakistan is moving towards investment- and export-led growth rather than consumption-driven expansion, and will assume the G-24 chairmanship on November 1 while chairing the Borrowers&#39; Platform Governing Council.]]>
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			<title>India expected to overtake Japan as world's 4th largest economy in 2027: IMF</title>
			<link>https://tribune.com.pk/story/2635056/india-expected-to-overtake-japan-as-worlds-4th-largest-economy-in-2027-imf</link>
			<comments>https://tribune.com.pk/story/2635056/india-expected-to-overtake-japan-as-worlds-4th-largest-economy-in-2027-imf#comments</comments>
			<pubDate>Thu, 15 Oct 26 16:46:42 +0500</pubDate>
			<dc:creator>
				<![CDATA[AFP]]>
			</dc:creator>
			<category><![CDATA[Business]]></category><category><![CDATA[World]]></category>
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			<description>
				<![CDATA[Japan to remain the fourth-largest country by nominal gross domestic product this year]]>
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				<![CDATA[India is expected to become the world&#39;s fourth-largest economy by 2027, overtaking Japan, according to International Monetary Fund (IMF) projections that on Thursday laid out the Asian nations&#39; contrasting trajectories.

The IMF said Japan would remain the fourth-largest country by nominal gross domestic product this year, but in 2027 India is set to take its place, with a GDP reaching $4.52 trillion.

Japan is slated to slip to sixth place that year, falling behind both India and the United Kingdom, the projection showed.

India has shown strong growth in recent years despite global economic headwinds, with the IMF this week raising its forecasts for 2026 growth to hit 7%.



IMF Growth Forecast 2026:
🇺🇸 US: 2.3%
🇩🇪 Germany: 1.3%
🇫🇷 France: 0.4%
🇮🇹 Italy: 0.8%
🇪🇸 Spain: 2.5%
🇬🇧 UK: 1.3%
🇯🇵 Japan:0.7%
🇨🇦 Canada: 1.1%
🇨🇳 China:4.5%
🇮🇳 India: 7.0%
🇷🇺 Russia:0.9%
🇧🇷 Brazil: 2.2%
🇲🇽 Mexico: 1.5%
🇸🇦 Saudi Arabia: -3.3%
🇳🇬 Nigeria: 4.2%
🇿🇦&hellip; pic.twitter.com/NROY5TCdjY
&mdash; IMF (@IMFNews) October 13, 2026



Japan, by contrast, is plagued by an ageing population and other structural problems that have seen the Asian giant&#39;s growth stagnate.

The United States is the world&#39;s largest economy, followed by China and Germany.

Releasing the IMF&#39;s regional economic outlook for Asia-Pacific on Thursday, Asia Director Krishna Srinivasan said India entered the current energy price shock caused by the US-Israel war on Iran from a strong position.

&quot;India entered this with very strong fundamentals,&quot; he said. &quot;Growth was strong, fiscal prudence was pretty much enshrined, they had lots of reserves and so on. And so in that context, they have responded well to the shock.&quot;

Growth in Japan, by contrast, is projected to slow to 0.7% in 2026, with the country hard hit by an increase in energy prices -- and wider inflation -- that has seen the Bank of Japan raise interest rates to their highest level in three decades.

Read:&nbsp;Influential Hindu group urges India to block Starlink amid Musk-Ambani feud

The country, long haunted by deflation, has seen a sustained increase in consumer prices since the spring of 2022, and spiking energy prices from the Iran war have further fueled those rises.

The fall of the yen, which hit its lowest level in 40 years against the dollar over the summer, is further driving up the cost of imports.

Japan&#39;s ageing population is also weighing on economic activity.

The IMF&#39;s Srinivasan said Japan&#39;s economy was benefiting from the boom in artificial intelligence investments, but not as much as its regional neighbours.

The benchmark Nikkei index in Tokyo fell by nearly 5% on Thursday, dragged down by a plunge in technology stocks amid doubts over the profitability of the AI sector.]]>
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			<title>Marble industry urged to opt for modern processing</title>
			<link>https://tribune.com.pk/story/2635093/marble-industry-urged-to-opt-for-modern-processing</link>
			<comments>https://tribune.com.pk/story/2635093/marble-industry-urged-to-opt-for-modern-processing#comments</comments>
			<pubDate>Thu, 15 Oct 26 22:01:00 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2635093</guid>
			<description>
				<![CDATA[Value addition, improved standards will help sector expand global footprint]]>
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				<![CDATA[Adviser to Prime Minister for Industries and Production Haroon Akhtar Khan has emphasised that Pakistan&#39;s marble industry has significant potential to contribute to industrial growth, employment generation and foreign exchange earnings, provided the sector moves beyond conventional extraction practices towards modern processing, quality finishing and higher value-added products.

He chaired a meeting of the Steering Committee on the National Marble and Natural Stone Policy to review the challenges facing the marble industry and discuss measures to enhance value addition, improve finishing standards, modernise production processes and increase exports.

Khan pointed out that the steering committee had been constituted to address the longstanding challenges facing the marble and natural stone sector, unlock its export potential and modernise the industry in line with international standards.

The adviser informed the meeting that four technical groups had been formed under the steering committee to develop focused recommendations on marble finishing, technology up-gradation, value addition and export promotion. These groups will work towards identifying practical solutions to industry-specific challenges and developing a roadmap for strengthening the sector&#39;s competitiveness in international markets.

Khan underscored the government&#39;s commitment to working closely with the private sector to address operational bottlenecks, improve the industry&#39;s business environment and facilitate sustainable growth. He said the committee would provide a platform for identifying challenges and formulating actionable solutions in consultation with industry stakeholders.

Private sector representatives, who were present in the meeting, highlighted several structural constraints affecting the industry&#39;s performance, particularly outdated extraction techniques, inadequate access to modern technology, logistical challenges, limited value addition and insufficient outreach to international markets.

They observed that conventional blasting methods used in quarrying often resulted in substantial wastage of valuable marble, reducing the quantity of usable stone and undermining the industry&#39;s overall productivity. They stressed the need for adopting modern extraction technologies and improving processing techniques to minimise wastage and maximise the commercial value of natural stone resources.

The participants emphasised that improving finishing standards, product quality and processing capabilities was essential to making Pakistani marble more competitive in international markets. They called for paying greater attention to logistics, market development and export facilitation to enable local producers gain access to new buyers and expand their international footprint.]]>
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			<title>Pakistan eyes double-B rating: FinMin</title>
			<link>https://tribune.com.pk/story/2634885/pakistan-eyes-double-b-rating-finmin</link>
			<comments>https://tribune.com.pk/story/2634885/pakistan-eyes-double-b-rating-finmin#comments</comments>
			<pubDate>Wed, 14 Oct 26 22:19:05 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2634885</guid>
			<description>
				<![CDATA[Aurangzeb cites 22-year-low fiscal deficit, three years of primary surpluses]]>
			</description>
			<content:encoded>
				<![CDATA[Pakistan is aiming to enter the double-B sovereign rating category through sustained economic improvements, Finance Minister Muhammad Aurangzeb has said, citing a fiscal deficit at a 22-year low, three consecutive years of primary surpluses and foreign exchange reserves at a historic high covering three months of imports, according to an official statement issued by the Ministry of Finance on Wednesday.

The minister held a series of engagements with international investors, credit rating agencies, multilateral financial institutions and US officials on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok.

At the Citi Macro Forum and Standard Chartered Bank&#39;s Sovereign Investor Roundtable, he outlined a capital market strategy including further Panda bond issuances, Sukuk and a proposed rupee-denominated, dollar-settled international bond, emphasising lower borrowing costs, longer debt maturities and reduced rollover risks. He said economic growth could reach or exceed 4% this fiscal year.

In a meeting with S&amp;P Global Ratings, the minister highlighted the September bond issuance, strong investor participation and progress under the IMF programme, along with improved tax collections, reserve accumulation and reduced swap and forward liabilities. He noted S&amp;P&#39;s emphasis on policy continuity, reform implementation, a lower interest burden and stronger external buffers.

Addressing the MENAP meeting with the IMF managing director, he cited economic growth of 3.7% and the October 7 staff-level agreement. He reaffirmed commitment to targeted, budget-neutral and time-bound subsidies to protect low-income groups, and called for diversified energy sources, deeper regional integration and investment in logistics and food systems.

In a meeting with Asian Infrastructure Investment Bank (AIIB) President Zou Jiayi, the minister identified power transmission and railway modernisation as priorities, with AIIB targeting approval of a transmission project before the end of the year. Discussions covered the Karachi-Rohri section of the ML-1 railway project, possible co-financing with the Asian Development Bank (ADB) and emergency budget support for energy and food security pressures.

With MIGA Managing Director Tsutomu Yamamoto, he said financing terms should reflect Pakistan&#39;s improved ratings and renewed market access, expressing satisfaction that MIGA had revised its pricing. The meeting reviewed a hydropower-related case before the UK Supreme Court.

Meeting IMF Deputy Managing Director Nigel Clarke, the minister emphasised political ownership and sustained reform implementation, noting stronger reserves and a declining debt-to-GDP ratio. He also met US State Department Ambassador Yon to review a trade framework agreement, energy diversification, Reko Diq, critical minerals, Boeing aircraft acquisition, digital asset regulation and DFC and EXIM Bank financing.]]>
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			<title>Pharma market access tops Pak-Ethiopia talks</title>
			<link>https://tribune.com.pk/story/2634686/pharma-market-access-tops-pak-ethiopia-talks</link>
			<comments>https://tribune.com.pk/story/2634686/pharma-market-access-tops-pak-ethiopia-talks#comments</comments>
			<pubDate>Tue, 13 Oct 26 20:24:43 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2634686</guid>
			<description>
				<![CDATA[Commerce minister highlighted Pakistan's growing pharmaceutical industry]]>
			</description>
			<content:encoded>
				<![CDATA[Federal Minister for Commerce Jam Kamal Khan called for expediting regulatory approvals for Pakistani pharmaceutical companies seeking access to the Ethiopian market, as the two countries discussed expanding bilateral trade, investment and economic cooperation.

Ethiopian Ambassador to Pakistan Dr Oumer Hussein Oba called on the minister in Islamabad. The commerce minister highlighted Pakistan&#39;s growing pharmaceutical industry and its interest in expanding exports to African markets, stressing that timely approvals and transparent procedures were essential to building exporter confidence.

The Ethiopian ambassador said he had taken up pending pharmaceutical registration issues with Ethiopian health authorities and received positive assurances regarding early resolution. The meeting also reviewed Ethiopia&#39;s ongoing World Trade Organisation accession process, with the commerce minister underscoring the importance of reciprocal market access. Both sides discussed a proposed visa waiver agreement for diplomatic and official passport holders.]]>
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			<title>Pakistan showcases AI innovations at UAE fair</title>
			<link>https://tribune.com.pk/story/2633366/pakistan-showcases-ai-innovations-at-uae-fair</link>
			<comments>https://tribune.com.pk/story/2633366/pakistan-showcases-ai-innovations-at-uae-fair#comments</comments>
			<pubDate>Tue, 06 Oct 26 21:08:26 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2633366</guid>
			<description>
				<![CDATA[Pakistani pavilion was inaugurated by Ambassador Shafqat Ali Khan]]>
			</description>
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				<![CDATA[Pakistan is showcasing its growing capabilities in artificial intelligence and emerging technologies at the AI Everything Global 2026, one of the region&#39;s leading public-private gatherings on artificial intelligence, bringing together more than 500 exhibitors and 150 investors from 70 countries.

Pakistan has established a strong presence at the Abu Dhabi event, featuring five leading Pakistani technology companies presenting innovative AI-driven solutions and services including Al data intelligence, Al surveillance, Al sales solutions and sovereign Al. The pavilion has been established under PSEB.

The Pakistani pavilion was inaugurated by Ambassador Shafqat Ali Khan. He interacted with participating Pakistani companies and highlighted the importance of enabling Pakistan&#39;s technology sector to play a proactive role in the rapidly evolving global AI landscape.]]>
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			<title>Farmers to get access to AI in daily lives</title>
			<link>https://tribune.com.pk/story/2632507/farmers-to-get-access-to-ai-in-daily-lives</link>
			<comments>https://tribune.com.pk/story/2632507/farmers-to-get-access-to-ai-in-daily-lives#comments</comments>
			<pubDate>Thu, 01 Oct 26 21:39:07 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2632507</guid>
			<description>
				<![CDATA[Parliamentary Secretary says they will be able to forecast their yields and productivity]]>
			</description>
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				<![CDATA[The government of Punjab is working towards incorporating artificial intelligence (AI) into the daily lives of farmers as the provincial leadership believes in data and technological revolution. This was stated by Parliamentary Secretary Osama Leghari while speaking at the Pakistan Agricultural Coalition&#39;s Agri Connections Conference and Expo on Thursday.

&quot;I hope that during the remaining two and a half years of our tenure, we will successfully lay the foundation through which our farmers will have access to AI and will be able to forecast their yields and productivity,&quot; said Leghari.

He added &quot;a farmer is someone who buys wholesale, sells retail and pays carriage both ways so, we, as a government, have declared this the Year of the Value Chain&quot;. &quot;We are encouraging our partners&quot;.]]>
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			<title>AI risk warnings rattle global markets</title>
			<link>https://tribune.com.pk/story/2629308/ai-risk-warnings-rattle-global-markets</link>
			<comments>https://tribune.com.pk/story/2629308/ai-risk-warnings-rattle-global-markets#comments</comments>
			<pubDate>Mon, 14 Sep 26 22:06:07 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2629308</guid>
			<description>
				<![CDATA[Wall Street's elite tech index, the Nasdaq 100, slid 1.2% to a six-week low in early trading as chip stocks]]>
			</description>
			<content:encoded>
				<![CDATA[AI-linked stocks plunged worldwide on Monday after leaders of the biggest artificial intelligence companies warned of risks from rapid development, the starkest threat yet to the billions of dollars being poured into the industry that have driven world markets to record highs.

The selloff rippled through the industry, where companies are increasingly relying on debt and circular financing to fund ambitious AI spending plans even as global borrowing costs, reflected in multi-year-high bond yields, continue to rise.

Wall Street&#39;s elite tech index, the Nasdaq 100, slid 1.2% to a six-week low in early trading as chip stocks, which have led the AI sugar rush, fell the most.]]>
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			<title>Minister reaffirms BRI commitment at Hong Kong summit</title>
			<link>https://tribune.com.pk/story/2628622/minister-reaffirms-bri-commitment-at-hong-kong-summit-1</link>
			<comments>https://tribune.com.pk/story/2628622/minister-reaffirms-bri-commitment-at-hong-kong-summit-1#comments</comments>
			<pubDate>Thu, 10 Sep 26 20:18:01 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2628622</guid>
			<description>
				<![CDATA[CPEC was transforming country's economic landscape through cooperation in infrastructure, energy, industrialisation]]>
			</description>
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				<![CDATA[Federal Minister for Commerce Jam Kamal Khan has reaffirmed Pakistan&#39;s commitment to the Belt and Road Initiative (BRI), saying the China-Pakistan Economic Corridor (CPEC) is positioning the country as a regional hub for trade, investment and connectivity, according to a statement issued on Thursday.

Addressing the 11th Belt and Road Summit in Hong Kong, he said CPEC was transforming the country&#39;s economic landscape through cooperation in infrastructure, energy and industrialisation.

&quot;Pakistan is emerging as a vital bridge between West, Central and East Asia,&quot; he said, citing expanding rail and road links with China and transit-trade arrangements with Central Asian states.]]>
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			<title>UK fund eyes expansion of investment footprint</title>
			<link>https://tribune.com.pk/story/2628617/uk-fund-eyes-expansion-of-investment-footprint</link>
			<comments>https://tribune.com.pk/story/2628617/uk-fund-eyes-expansion-of-investment-footprint#comments</comments>
			<pubDate>Thu, 10 Sep 26 20:17:12 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2628617</guid>
			<description>
				<![CDATA[BII expresses interest in climate finance, renewable energy and power transmission]]>
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				<![CDATA[British International Investment (BII) plans to invest at least $2 billion across Asia and Africa under its 2026-31 strategy, with a significant focus on South Asia, and has identified Pakistan as an important investment destination.

BII Managing Director and Head of Asia Srini Nagarajan shared the plans with Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at a meeting to discuss expanding BII&#39;s investment footprint and mobilising private capital, according to a statement issued on Thursday. Nagarajan expressed BII&#39;s interest in significantly expanding its investment in the country over the coming years, and outlined its focus on mobilising private capital alongside its own investments in infrastructure, climate finance, financial services, technology and private markets.

Aurangzeb welcomed BII&#39;s commitment, highlighting improved macroeconomic stability and investor confidence, alongside the government&#39;s focus on structural reforms, privatisation and private-sector-led growth.

The delegation highlighted the potential of private equity, fund-of-funds structures and private credit to deepen financial intermediation. Nagarajan welcomed capital-market reforms and efforts to improve the investment and exit environment.]]>
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			<title>Americans hit with record gasoline prices</title>
			<link>https://tribune.com.pk/story/2627655/americans-hit-with-record-gasoline-prices</link>
			<comments>https://tribune.com.pk/story/2627655/americans-hit-with-record-gasoline-prices#comments</comments>
			<pubDate>Sat, 05 Sep 26 19:56:36 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2627655</guid>
			<description>
				<![CDATA[National average gasoline price will probably hit $4.03 on Labour Day]]>
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				<![CDATA[With the war in the Middle East still raising energy costs, Americans face record-high gasoline prices for Labour Day weekend, just as political campaigns kick off for midterm Congressional elections.

The national average gasoline price will probably hit $4.03 on Labour Day, far surpassing the previous record of $3.83 per gallon set in 2012, said GasBuddy analyst Patrick De Haan. &quot;Gasoline, while not at all-time records, is at its highest level ever recorded this late in the calendar year, meaning Americans could for the first time ever see a national average price of gasoline above $4 per gallon on Labour Day,&quot; De Haan wrote in a blog post.]]>
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			<title>China donates livestock vaccines for CPEC 2.0</title>
			<link>https://tribune.com.pk/story/2627156/china-donates-livestock-vaccines-for-cpec-20</link>
			<comments>https://tribune.com.pk/story/2627156/china-donates-livestock-vaccines-for-cpec-20#comments</comments>
			<pubDate>Wed, 02 Sep 26 22:10:52 +0500</pubDate>
			<dc:creator>
				<![CDATA[APP]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2627156</guid>
			<description>
				<![CDATA[Minister urges scientists to develop focused projects for modernisation]]>
			</description>
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				<![CDATA[Minister for National Food Security Rana Tanveer Hussain has called upon agricultural scientists and researchers to develop focused and innovative projects under the second phase of the China-Pakistan Economic Corridor (CPEC 2.0), saying agriculture will be a key component of the mega initiative aimed at enhancing productivity and modernising the sector.

Speaking at a vaccine handover ceremony at the National Agricultural Research Center (NARC), Hussain said the livestock sector constitutes 60% of Pakistan&#39;s agricultural economy and remains vital for rural livelihoods and food security.

The Ministry of Agriculture and Rural Affairs of China donated veterinary vaccines against lumpy skin disease and brucellosis. Hussain expressed gratitude to the Chinese government and its ministry for the donation.

Highlighting the sector&#39;s economic weight, Hussain noted that livestock contributes significantly to agricultural GDP, provides employment to millions of rural households and supplies essential commodities including milk, meat, hides and skins. He warned that lumpy skin disease and brucellosis pose serious threats to animal health, reproduction and milk production, resulting in heavy economic burdens for smallholder farmers.

Under the prime minister&#39;s directives, the government is placing paramount focus on boosting agricultural productivity. The Chinese Academy of Agricultural Sciences has been engaged to provide recommendations for modernising research institutions like PARC, with implementation slated to begin within two to three months.

Hussain noted that 1,000 Pakistani students have already returned after acquiring practical knowledge in China and are being integrated into various agricultural sectors. The process to send an additional 1,000 students to China is underway and will be completed by March.]]>
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			<title>Govt taps HK expertise for virtual assets</title>
			<link>https://tribune.com.pk/story/2626989/govt-taps-hk-expertise-for-virtual-assets</link>
			<comments>https://tribune.com.pk/story/2626989/govt-taps-hk-expertise-for-virtual-assets#comments</comments>
			<pubDate>Tue, 01 Sep 26 21:51:48 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2626989</guid>
			<description>
				<![CDATA[Finance minister appreciated efforts to engage with international policymakers]]>
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				<![CDATA[Pakistan is exploring emerging opportunities in the virtual assets and digital finance ecosystem, including the potential application of blockchain and tokenisation technologies in financial markets, following constructive engagement between the Pakistan Virtual Assets Regulatory Authority (PVARA) and Hong Kong policymakers, according to a statement issued on Tuesday.

PVARA Chairman Bilal Bin Saqib briefed Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on his recent visit to Hong Kong, where he held discussions with the Financial Services and the Treasury Bureau, Hong Kong Monetary Authority, and Securities and Futures Commission. The meetings covered international practices relating to digital assets, stablecoins, compliance frameworks and digital financial infrastructure. Saqib shared perspectives on digital financial products, tokenisation and potential areas for institutional cooperation.

Aurangzeb emphasised the importance of developing a responsible, transparent and well-structured digital assets ecosystem that supports innovation while maintaining appropriate safeguards. The finance minister appreciated efforts to engage with international policymakers and stressed the importance of building on these engagements to identify practical use cases that can contribute to the development of Pakistan&#39;s digital financial ecosystem.]]>
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			<title>Oil slips ahead of US announcement</title>
			<link>https://tribune.com.pk/story/2625659/oil-slips-ahead-of-us-announcement</link>
			<comments>https://tribune.com.pk/story/2625659/oil-slips-ahead-of-us-announcement#comments</comments>
			<pubDate>Mon, 24 Aug 26 21:06:44 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2625659</guid>
			<description>
				<![CDATA[Treasury Department announced new sanctions on 60 individuals]]>
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				<![CDATA[Oil prices fell more than $2 a barrel on Monday as investors took profits after recent gains and awaited details of expected new US sanctions on Iran, which could further disrupt supplies.

Brent crude futures were down $1.71, or 1.81%, to $92.69 at 1648 GMT, while US WTI crude was at $85.34 a barrel, down $1.72, or 1.98%. Treasury Secretary Scott Bessent said the US was launching an &quot;economic onslaught&quot; against Iran&#39;s financial connections around the globe.

The Treasury Department announced new sanctions on 60 individuals, entities and vessels but that list did not include any of the Chinese financial institutions suspected of facilitating Iran&#39;s oil trade.]]>
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