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                        <title>Latest Business News and Business News Headlines | Business</title>
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			<title>Govt slashes petrol, HSD by Rs22 in 'Eid gift' for people</title>
			<link>https://tribune.com.pk/story/2610406/govt-slashes-petrol-hsd-by-rs22-in-eid-gift-for-people</link>
			<comments>https://tribune.com.pk/story/2610406/govt-slashes-petrol-hsd-by-rs22-in-eid-gift-for-people#comments</comments>
			<pubDate>Fri, 29 May 26 14:29:44 +0500</pubDate>
			<dc:creator>
				<![CDATA[Web Desk]]>
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			<category><![CDATA[Pakistan]]></category>
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			<description>
				<![CDATA[Following the cut, petrol price was fixed at Rs381.78 and HSD at Rs380.78 per litre nationwide]]>
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				<![CDATA[The federal government on Friday reduced the prices of petrol and high-speed diesel (HSD) by Rs22 per litre, saying the move was aimed at providing relief to the public.

Following the reduction, the price of petrol was set at Rs381.78 per litre, down from Rs403.78. Similarly, the price of HSD was reduced to Rs380.78 per litre from Rs402.78.

Read: Govt cuts petrol price by Rs6, diesel by Rs6.80

According to a statement issued by the Prime Minister&rsquo;s Office on Friday, Prime Minister Shehbaz Sharif said he had promised the nation that relief would be extended to the people whenever financial space became available.

&ldquo;That promise has been fulfilled exactly as committed,&rdquo; the prime minister said, describing the reduction as an Eid gift for the people, as the announcement came on the third day of Eid.

The statement said the government had decided to reduce the prices of both petrol and diesel by Rs22 per litre.

&ldquo;Providing relief to the people is among my top priorities,&rdquo; the premier said.

The statement added that the government had also reduced fuel prices last week as part of its public relief measures.

The announcement came amid a continued decline in global oil prices on hopes of a possible ceasefire between the United States and Iran. Oil markets remained volatile this week as investors assessed the prospects of a breakthrough between Washington and Tehran that could help restore normal shipping through the Strait of Hormuz, a key global oil transit route.

This marks the third consecutive reduction in fuel prices in as many weeks. Last week, the government reduced the prices of petrol and diesel by up to Rs6.80 per litre, after cutting the rates of both fuels by Rs5 per litre earlier this month.

The US and Israel launched an attack on Iran in February, after which Tehran retaliated with strikes and closed the Strait of Hormuz, disrupting global oil supplies and triggering a sharp rise in international oil prices.

As petroleum prices surged, prompting the government to raise fuel prices by more than 50%.

Amid rising prices, the government increased petroleum product rates twice during the first week of March, noting that the hikes exceeded the increase in international market prices. However, the sharpest increase was witnessed in April this year.

Last month, the government raised the petrol price by Rs137 per litre, taking it to a record Rs458.4 per litre. A few days later, however, the prime minister, in a televised address, announced an Rs80 per litre reduction in the petroleum levy on petrol, bringing its price down to Rs378 per litre. Earlier this month, the government again increased the prices of both petrol and high-speed diesel by Rs26.77 per litre despite no corresponding increase in international rates, after imposing an additional levy of nearly Rs27 per litre on fuel. A week later, petroleum product prices were increased once again, pushing rates close to Rs400 per litre. Subsequently, the Petroleum Division issued another notification earlier this month, raising prices by nearly Rs15 per litre.]]>
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			<title>PSX jumps 2,238 points on Eid cheer, US-Iran hopes</title>
			<link>https://tribune.com.pk/story/2610392/psx-jumps-2238-points-on-eid-cheer-us-iran-hopes</link>
			<comments>https://tribune.com.pk/story/2610392/psx-jumps-2238-points-on-eid-cheer-us-iran-hopes#comments</comments>
			<pubDate>Fri, 29 May 26 12:16:59 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[KSE-100 settles past 173,000 level as FFC leads rally on $1.1 billion China deal]]>
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				<![CDATA[The Pakistan Stock Exchange (PSX) witnessed strong bullish momentum on Friday, after the break of Eidul Azha holidays, with the benchmark KSE-100 Index surging 2,238 points (+1.30% DoD) to close at a fresh high of &nbsp;173,963.

The market opened on a strong footing as investor sentiment improved amid encouraging progress in ongoing United States-Iran negotiations and declining international oil prices.

According to Deputy Head of Trading of Arif Habib Ltd Ali Najib, broad-based buying emerged following positive developments over the Eidul Azha holidays, with expectations of a potential diplomatic breakthrough continuing to drive optimism across the market.

Friday&rsquo;s rally was largely driven by FFC, ENGROH, LUCK, EFERT, BAHL, HBL, MARI, TRG, SRVI &amp; MTL which collectively contributed 1,773 points to the index gain. On the corporate front, FFC surged Rs21.75 (up 4%) today after signing a $1.1 billion agreement with China&rsquo;s Hualu to establish a coal-based fertiliser project under CPEC 2.0.

Read:&nbsp;Only 14% mutual funds invested in PSX&nbsp;

Overall market participation remained stable, with traded volume clocking in at 550.4 million shares and turnover settling at Rs40.8 billion. TRG led the volume chart with 34.1 million shares traded.

The KSE-100 Index posted a handsome weekly gain of 6,119 points (+3.65%) to settle at 173,963. The benchmark touched an intra-week high of 174,106 and a low of 170,162, respectively.

Moving forward, developments in US&ndash;Iran negotiations will remain a key market trigger, with improving diplomatic momentum and easing oil prices supporting investor sentiment. However, uncertainty around a final agreement may keep regional markets volatile in the near term.]]>
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			<title>Oil falls more than 1% on reports of possible US-Iran ceasefire deal</title>
			<link>https://tribune.com.pk/story/2610367/oil-falls-more-than-1-on-reports-of-possible-us-iran-ceasefire-deal</link>
			<comments>https://tribune.com.pk/story/2610367/oil-falls-more-than-1-on-reports-of-possible-us-iran-ceasefire-deal#comments</comments>
			<pubDate>Fri, 29 May 26 07:32:48 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2610367</guid>
			<description>
				<![CDATA[Brent crude futures for July fell 1.32% or $1.24 to $92.47 a barrel]]>
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				<![CDATA[&nbsp;Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following ​reports that the US&nbsp;and&nbsp;Iran&nbsp;had reached a potential deal to &zwnj;extend a ceasefire.

Brent crude futures for July fell 1.32% or $1.24 to $92.47 a barrel at 0656 GMT. US&nbsp;oil futures fell $1.38, or 1.55%, to $87.52 a barrel.

Brent has plunged 10.5% this week - the steepest ​fall since the week that ended on April 6, while WTI has ​dropped 9.2% - the biggest weekly loss since the week that ended ⁠on April 13.

Ceasefire agreement

The US&nbsp;and Iran&nbsp;reached an agreement&nbsp;on Thursday to extend a ​ceasefire and lift restrictions on shipping through the Strait of Hormuz, sources told Reuters, ​though US&nbsp;President Donald Trump has yet to approve it and Iranian state media said it had not been finalised.

&quot;Consensus remains that the conflict is over, and a deal is coming. As ​long as this narrative holds, crude oil has room to extend its decline ​toward trendline support in the low $80s,&quot; IG analyst Tony Sycamore said.

Read:&nbsp;Oil surges after Iran targets US airbase in retaliation

Prices have been volatile in recent &zwnj;sessions, swinging ⁠by as much as $6 for both benchmarks on conflicting signals over a possible end to the three-month-old Iran war and the&nbsp;potential reopening&nbsp;of the Strait of Hormuz, a conduit for roughly a fifth of the world&#39;s oil and liquefied natural gas ​supplies.

Recovery remains uncertain

Traffic through ​the maritime chokepoint ⁠remains a&nbsp;small fraction&nbsp;of the pre-war level. Analysts at ING said a reopening of the waterway would offer some immediate relief ​to the oil market, but a recovery is still uncertain.

&quot;Upstream ​oil production ⁠has fallen significantly since the war, with producers shutting in production in order to manage storage constraints,&quot; ING said in a note. &quot;The recovery in upstream production will be gradual ⁠rather than ​immediate&quot;.

&quot;Refineries in the region need to ramp up ​output. This will take time, given that some of this infrastructure was targeted in attacks earlier in the ​conflict&quot;.]]>
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			<title>Oil surges after Iran targets US airbase in retaliation</title>
			<link>https://tribune.com.pk/story/2610313/oil-surges-after-iran-targets-us-airbase-in-retaliation</link>
			<comments>https://tribune.com.pk/story/2610313/oil-surges-after-iran-targets-us-airbase-in-retaliation#comments</comments>
			<pubDate>Thu, 28 May 26 05:42:45 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2610313</guid>
			<description>
				<![CDATA[Brent crude futures rise $3.51, or 3.72%, to $97.8 a barrel]]>
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				<![CDATA[Oil prices jumped more than 3% on Thursday after Iran&#39;s ​Revolutionary Guards said they&nbsp;targeted&nbsp;a US&nbsp;airbase in response &zwnj;to a U.S. attack near Bandar Abbas airport.

Brent crude futures rose $3.51, or 3.72%, to $97.8 a barrel by 0344 GMT, while the more active August contract gained $3.35 or ​3.63%, to $95.6. The July contract is set to expire on Friday.

The ​US&nbsp;West Texas Intermediate futures were up $3.31, or 3.73%, at $91.99.

Both ⁠benchmarks slipped more than 5% to touch their lowest in a ​month in the previous session on the possibility of a US-Iran ​deal to end their war and reopen the Strait of Hormuz.

Iran&#39;s Revolutionary Guards said on Thursday they targeted a US&nbsp;airbase after what they described as an ​early morning US&nbsp;attack near Bandar Abbas airport, Tasnim news agency ​reported.

They warned that any repeat of what they called aggression would draw a &quot;more decisive&quot;.

Read:&nbsp;Oil rises, stocks waver as new US strikes dampen peace deal hopes

The &zwnj;US&nbsp;⁠military launched&nbsp;new strikes&nbsp;in Iran targeting a military site that officials believed posed a threat to US forces and commercial maritime traffic in the strait, a US&nbsp;official told Reuters.

&quot;Oil supply remains constrained, and ​key sticking points ​have yet ⁠to be resolved,&quot; ANZ commodity strategist Daniel Hynes said in a note.

In the US, crude oil stockpiles ​fell by 2.8 million barrels last week, the sixth ​straight ⁠week of declines, according to American Petroleum Institute data.

Official inventory data from the US&nbsp;Energy Information Administration are due on Thursday, a day later ⁠than ​usual due to the Memorial Day holiday ​on Monday.]]>
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			<title>Three-year biotech policy drafted</title>
			<link>https://tribune.com.pk/story/2610198/three-year-biotech-policy-drafted</link>
			<comments>https://tribune.com.pk/story/2610198/three-year-biotech-policy-drafted#comments</comments>
			<pubDate>Tue, 26 May 26 17:32:43 +0500</pubDate>
			<dc:creator>
				<![CDATA[ZAFAR BHUTTA]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Policy designed to enhance agricultural output, adopt global farming practices]]>
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				<![CDATA[Following a historic slump in cotton harvest, the Ministry of National Food Security and Research has drawn up a draft three-year National Agricultural Biotechnology Policy (NABP) &ndash; 2025 aimed at enhancing the production of crops while aligning local farming practices with international standards.

A few years ago, Pakistan registered an annual cotton production of just five million bales, the lowest in the past 40 years and compared to the historical average output of around 12 to 15 million bales. Textile mills running in the country require around 16 million bales every year to produce various types of products.

Farmers endured the lowest cotton harvest during the tenure of the earlier Pakistan Muslim League-Nawaz (PML-N) government. Before that, the output dropped to nine million bales.

PML-N administrations are considered pro-industrialists while they seem to pay less attention to the farming community. The Special Investment Facilitation Council, an investment promotion body, in 2023 directed the food ministry to draft a biotechnology policy, which was finalised and approved in 2026.

During discussions in a cabinet meeting, its members were apprised that many countries had already prepared biotechnology policies and, therefore, it was imperative that Pakistan should also formulate a similar policy for the promotion of genetically modified crops, which would enable the country to take advantage of the opportunities arising from latest advancements in the field, while protecting against risks associated with genetic engineering.

The cabinet, after comprehensive deliberations on the matter and keeping in view the submissions made, approved the proposed National Agricultural Biotechnology Policy (NABP) &ndash; 2025.

The Ministry of National Food Security informed the forum that agricultural biotechnology was significantly transforming global farming practices, with genetically modified (GM) crops now covering nearly 3% of the world&#39;s arable land. It said that Pakistan possessed strong potential in the field, supported by a sizeable pool of scientific expertise, an established regulatory framework and well-equipped biotechnology research centres.

Similarly, on the policy front, several key documents highlight the importance of biotechnology, including the Science and Technology Policies of 2011 and 2024, the National Food Security Policy of 2018, the National Seed Policy of 2025 and the Pakistan Vision 2030. However, despite those institutional strengths and supportive policies, the food ministry shared that Pakistan had yet to fully capitalise on the opportunities offered by agricultural biotechnology, the primary reason for which was the absence of a clear, comprehensive and unified strategic direction.

The ministry further stated that in order to embark on the strategic direction, the Special Investment Facilitation Council in its sixth Executive Committee meeting held on October 23 and 24, 2023 gave directives to develop and finalise a proposal for the Genetically Modified Organism (GMO) Policy. In response, the ministry constituted a committee, headed by the Pakistan Agricultural Research Council (PARC), on November 20, 2023 to draft the policy.

After preparing an initial draft, another committee was set up under the leadership of the National Seed Development and Regulatory Authority chairperson on April 22, 2025, which comprised technical experts, to refine and improve the draft policy.

The food security ministry told the cabinet that a consultative meeting of the second committee was held on May 7, 2025, where the draft National Agricultural Biotechnology Policy (NABP) &ndash; 2025 was finalised for submission to the federal cabinet.

Subsequently, a meeting was held with provincial secretaries on June 2, 2025, chaired by the food security ministry secretary, to evaluate the draft policy, following which the secretary issued directives on the annual biotechnology component of the policy and to organise a consultative session with private-sector stakeholders regarding the policy implementation.

Consequently, two focused consultations were held &ndash; the first on agricultural biotechnology on June 25, 2025 and the other with private-sector stakeholders on June 27, 2025.

The cabinet considered a summary dated December 4, 2025, titled &quot;National Agricultural Biotechnology Policy (NABP) &ndash; 2025&quot; and submitted by the Ministry of National Food Security, and approved the proposal.]]>
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			<title>LCCI urges fair tax targets, higher PSDP</title>
			<link>https://tribune.com.pk/story/2610092/lcci-urges-fair-tax-targets-higher-psdp</link>
			<comments>https://tribune.com.pk/story/2610092/lcci-urges-fair-tax-targets-higher-psdp#comments</comments>
			<pubDate>Mon, 25 May 26 20:33:16 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Proposes 4?5% FBR revenue increase, 10?12% defence rise, and removal of infrastructure cess]]>
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				<![CDATA[The Lahore Chamber of Commerce and Industry (LCCI) has presented its shadow budget for fiscal year 2026?27 and urged the government to design a balanced, business?friendly federal budget, according to a statement issued on Monday.

LCCI President Faheemur Rehman Saigol said the business community is under severe pressure from high energy costs, high interest rates, heavy taxation and inflation. He stressed the need for a budget that provides real relief to industry, trade and the general public. Saigol said the federal budget size for 2025?26 was Rs17,573 billion, with a deficit of Rs6,501 billion. He suggested the next budget remain around the same size to maintain financial discipline.

The FBR tax target for 2025?26 was Rs14,131 billion. LCCI recommended only a 4?5% increase in the next budget, setting the target at about Rs14,700?14,800 billion. Unrealistic targets would further hurt industry and trade, he warned.

Indirect taxes such as customs duty, sales tax and federal excise duty increase the cost of doing business and fuel inflation. LCCI proposed customs duty at Rs1,650?1,660 billion, sales tax at Rs4,950?4,980 billion, and federal excise duty at Rs920?930 billion.

On income tax, Saigol said the government should bring new sectors into the tax net instead of increasing pressure on existing taxpayers, especially salaried individuals and industries. Without expanding the tax base, sustainable revenue growth is not possible.

Given the regional situation, a reasonable increase in defence spending is necessary. LCCI proposed raising the defence budget by 10?12% to about Rs2,800?2,860 billion. The Public Sector Development Programme (PSDP), currently at Rs1,000 billion, is not sufficient. LCCI recommended increasing it to Rs1,200?1,300 billion to speed up development projects, create jobs and support private sector growth.

Saigol also stressed that interest rates should be further reduced and expensive domestic debt refinanced to lower financial pressure. Along with the Benazir Income Support Programme, he proposed allocating Rs100?150 billion for technical and vocational training to help young people gain employment.

On petroleum levy, he said high fuel taxes create difficulties for industries and the public. He called for reducing the petroleum levy target and finding alternative revenue sources. LCCI also demanded the immediate removal of the Punjab Infrastructure Development Cess, stating it increases the cost of doing business and negatively affects industry, imports, exports and supply chains.

Saigol expressed hope that the government will seriously consider the business community&#39;s recommendations. Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi and former FPCCI and LCCI President Mian Anjum Nisar also attended the press conference.]]>
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			<title>FinMin, British envoy discuss economic ties, reforms</title>
			<link>https://tribune.com.pk/story/2610093/finmin-british-envoy-discuss-economic-ties-reforms</link>
			<comments>https://tribune.com.pk/story/2610093/finmin-british-envoy-discuss-economic-ties-reforms#comments</comments>
			<pubDate>Mon, 25 May 26 20:33:16 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Assess regional developments, economic and humanitarian implications]]>
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				<![CDATA[Federal Minister for Finance Muhammad Aurangzeb on Monday held a meeting with British High Commissioner Jane Marriott at the Finance Division. The meeting focused on Pakistan-United Kingdom bilateral cooperation, economic reforms, regional developments and continued engagement on matters of mutual interest.

The finance minister shared the government&#39;s perspective of the evolving global economic environment and its implications for Pakistan&#39;s economy, particularly in the context of regional geopolitical developments and energy market volatility. He outlined Pakistan&#39;s ongoing efforts to maintain macroeconomic stability, manage external-sector pressures and sustain the momentum of economic reforms aimed at ensuring long-term growth and resilience. Aurangzeb highlighted improvements in key economic indicators, including stability in the external account, continued strength in remittance inflows and growing investor confidence.

Regional and global developments, including their economic and humanitarian implications, also came under discussion. Both sides acknowledged the importance of dialogue, international cooperation and coordinated efforts to address emerging challenges affecting economic stability and global supply chains.

The British high commissioner appreciated Pakistan&#39;s continued engagement on regional issues and reaffirmed the UK&#39;s support for Pakistan&#39;s economic reform efforts and development priorities.]]>
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			<title>Gold jumps Rs4,600 on Iran peace hopes</title>
			<link>https://tribune.com.pk/story/2610098/gold-jumps-rs4600-on-iran-peace-hopes</link>
			<comments>https://tribune.com.pk/story/2610098/gold-jumps-rs4600-on-iran-peace-hopes#comments</comments>
			<pubDate>Mon, 25 May 26 20:33:16 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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				<![CDATA[Safe-haven asset surges over 1% globally; rupee edges up to 278.51/$]]>
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				<![CDATA[Gold prices on Monday registered an increase in Pakistan, mirroring gains in the international market, where the precious metal rose more than 1% amid hopes of a peace deal to end the US-Iran war. The development eased pressure on the dollar and oil prices, reducing fears of higher inflation and interest rates for an extended period.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola reached Rs477,762 after registering a rise of Rs4,600 during the day. Similarly, the 10-gram gold was sold for Rs409,603, reflecting an increase of Rs3,943.

On the global front, spot gold climbed 1.2% to $4,561.51 an ounce by 1319 GMT, and gold futures for June delivery gained 0.9% to $4,563.60, according to Reuters. US markets were closed for the Memorial Day holiday.

Adnan Agar, Director of Interactive Commodities, commented that the market was standing almost at its high and the reason was that the US-Iran deal was almost closed. &quot;The closing of the deal is a bit positive for gold.&quot;

Supporting factors included oil prices falling below $100 a barrel, while the dollar eased as investors moved away from the safe-haven currency. These shifts contributed to the positive momentum in gold trading.

Meanwhile, silver prices in Pakistan also moved upwards, increasing by Rs236 to reach Rs8,270 per tola.

In related international mining news, Ghana&#39;s government announced its commitment to renewing the mining lease for Gold Fields&#39; Tarkwa mine. The South African miner will undergo fresh scrutiny of its plans before any renewal is granted. Furthermore, at least 28 people were killed when a landslide struck an illegal gold mining site in Angola&#39;s northwestern Bengo province. Local authorities described it as one of the country&#39;s deadliest illegal mining accidents.

Meanwhile, the Pakistani rupee recorded a slight appreciation against the US dollar to Rs278.51, up a marginal Rs0.01. It had closed at Rs278.52 on Friday. In the international market, the US dollar weakened 0.2% against the Japanese yen, trading at 158.87 yen. Meanwhile, the euro strengthened 0.3% to $1.1642, while the British pound rose 0.4% to $1.3485.]]>
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			<title>Stocks rally sharply in Eid-shortened week</title>
			<link>https://tribune.com.pk/story/2610099/stocks-rally-sharply-in-eid-shortened-week</link>
			<comments>https://tribune.com.pk/story/2610099/stocks-rally-sharply-in-eid-shortened-week#comments</comments>
			<pubDate>Mon, 25 May 26 20:33:17 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
			</dc:creator>
			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[Index surges nearly 3,900 points over regional optimism, robust investor interest]]>
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				<![CDATA[In yet another powerful recovery, Pakistan equities on Monday extended their bullish momentum as strong buying interest lifted the benchmark KSE-100 index sharply higher, which gained nearly 3,900 points amid improving regional situation and investor optimism during a trading week shortened by upcoming Eidul Azha holidays.

The market opened on a volatile note, when the index recorded sharp swings due to profit-taking. However, buying interest quickly emerged, helping the market to wipe out losses and advance on a firm upward trajectory for the rest of the session. Investor sentiment remained upbeat after reports indicated progress towards a peace agreement between the United States and Iran, which lifted confidence across regional markets and improved risk appetite.

The benchmark touched the intra-day high of 171,920.81 points while the day&#39;s low was 170,161.66. At close, the KSE-100 index registered a significant growth of 3,881.05 points, or 2.31%, to settle at 171,725.29.

KTrade Securities, in its report, observed that the KSE-100 index rose 3,881 points (+2.31%) as broad-based buying returned and lifted sentiment across the market. Activity improved following positive developments over the weekend in US-Iran peace talks and expectations of reaching an interim understanding in the coming days. Easing geopolitical concerns supported a decline in international oil prices, with Brent trading around $94-98 per barrel, a sigh of relief for oil-importing economies such as Pakistan, it said.

Taking cue from Asian markets, the PSX traded positive since the opening. Sector-wise, gains were led by commercial banks, cement and oil &amp; gas, with major contribution coming from Fauji Fertiliser, United Bank, Habib Bank, Engro Holdings, Lucky Cement, Bank AL Habib and Meezan Bank. Looking ahead, KTrade expected the market direction to remain linked with developments on the US-Iran front and oil prices.

Arif Habib Limited (AHL) commented that the KSE-100 hit a pre-Eid target of 171.5k in a strong session where it surged 2.31%. A total of 92 shares rose while five fell with Fauji Fertiliser (+1.98%), UBL (+2.34%) and HBL (+4.52%) contributing the most to the index gains.

In geopolitical developments, the US and Iran were inching closer to a deal to extend their ceasefire and reopen the Strait of Hormuz, but officials from both sides signalled they still needed to negotiate certain points. A consensus was reached on many of the topics discussed, but no one could claim that the signing of an agreement was imminent, said the spokesman for Iran&#39;s Foreign Ministry.

Meanwhile, Prime Minister Shehbaz Sharif in his meeting with Chinese Premier Li Qiang said strategic cooperative partnership with China remained the cornerstone of Pakistan&#39;s foreign policy. &quot;We should see further developments ahead of the market reopening on Friday as positive news flow during the holiday period can help the market open gap up and through 175k,&quot; AHL concluded.

According to Topline Securities, investor confidence improved significantly following positive developments over the weekend regarding negotiations between the United States and Iran, with reports indicating that discussions may reach a conclusion in the near term. Sentiment was further bolstered by a sharp decline in international oil prices, which fell by nearly $6 per barrel.

The bullish momentum was primarily driven by heavyweight stocks including Habib Bank Ltd, Fauji Fertiliser, United Bank Ltd, Engro Holdings and Lucky Cement, which collectively contributed 1,315 points.]]>
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			<title>Oil slips to two-week low</title>
			<link>https://tribune.com.pk/story/2610095/oil-slips-to-two-week-low</link>
			<comments>https://tribune.com.pk/story/2610095/oil-slips-to-two-week-low#comments</comments>
			<pubDate>Mon, 25 May 26 20:33:16 +0500</pubDate>
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				<![CDATA[Reuters]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Brent crude futures were down $6.12, or 5.9%, at $97.42 a barrel]]>
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				<![CDATA[Oil prices fell almost 6% to two-week lows on Monday as optimism grew that the United States and Iran were moving closer to a peace deal that would reopen the Strait of Hormuz, even though Washington and Tehran played down hopes for an imminent breakthrough.

Brent crude futures were down $6.12, or 5.9%, at $97.42 a barrel at 1643 GMT and US WTI futures were down $5.72, or 5.9%, at $90.88. Both contracts traded at their lowest since May 7. Iran&#39;s top negotiator and its foreign minister were in Doha for talks with Qatar&#39;s prime minister on a potential deal with the US to end the three-month-old war, an official briefed on the visit said Monday.]]>
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			<title>Textile, mining ties pitched to Chinese firms</title>
			<link>https://tribune.com.pk/story/2610100/textile-mining-ties-pitched-to-chinese-firms</link>
			<comments>https://tribune.com.pk/story/2610100/textile-mining-ties-pitched-to-chinese-firms#comments</comments>
			<pubDate>Mon, 25 May 26 20:33:17 +0500</pubDate>
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				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Meetings focus on yarn imports, cotton seed quality, mineral exploration, e-commerce]]>
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				<![CDATA[Federal Minister for Commerce Jam Kamal Khan has held a series of high-level business engagements with leading Chinese enterprises during his official visit to China, aimed at strengthening bilateral trade, attracting investment and expanding Pakistan&#39;s export footprint across priority sectors including textiles, agriculture, mining, chemicals, e-commerce and food processing, according to a statement issued on Monday.

The minister met senior representatives of eight Chinese companies to explore concrete avenues for sectoral collaboration.

In a meeting with Zhong Heng Textile, discussions focused on yarn imports and enhancement of Pakistan&#39;s cotton seed quality through advanced Chinese technology. The minister highlighted Pakistan&#39;s strategic location and reaffirmed the government&#39;s commitment to facilitating long-term Chinese investment.

During discussions with Fortune Tech, both sides explored opportunities in organic products, seed development and technology-driven quality enhancement. With Shanghai Zhongken Xinshen Technology, talks centred on integrated mining sector collaboration, exploration opportunities and financing mechanisms.

In his meeting with Nanjing Jinshan Chemical Technology, the minister discussed expanding exports of Pakistani copper, lead-zinc, iron ore, guar gum and sugar. The Chinese company expressed interest in establishing long-term procurement arrangements.

Engagement with Shanghai Pingyuan?Tech focused on strengthening digital trade cooperation and e-commerce connectivity. Discussions with AHCOF Neochains Holdings reviewed opportunities in sesame trade, with emphasis on quality assurance and reliable supply arrangements.

Meeting with Zhejiang Grain, Oil and Food explored expanding exports of competitively priced Pakistani agricultural products.]]>
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			<title>Tariff protection hurts consumers</title>
			<link>https://tribune.com.pk/story/2609906/tariff-protection-hurts-consumers</link>
			<comments>https://tribune.com.pk/story/2609906/tariff-protection-hurts-consumers#comments</comments>
			<pubDate>Sun, 24 May 26 20:13:32 +0500</pubDate>
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				<![CDATA[Aadil Nakhoda]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Open competition forces firms to invest in productivity and innovation, not rent-seeking]]>
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				<![CDATA[As the announcement of the budget for the upcoming fiscal year, FY27, draws near, lobbies and special interest groups representing their respective industries and trade associations make a push for favourable fiscal policies to policymakers.

Although the main focus is to lower taxes, which is indeed a valid contention, and increase subsidies and handouts in return for a promise of higher industrial growth, many industry representatives wary of competition from imported goods also lobby for higher customs duties, regulatory duties and other forms of internal taxes on imports to increase the price of competing imported goods.

The higher the price of imported goods, the lower the quantity demanded and consequently lower the competition for local producers in the domestic market. Therefore, analysis on the performance of key industries and the impact of government policies becomes increasingly common as the new budget approaches.

The auto industry, which struggled during the recent economic downturn in Pakistan, has reported significant growth in 2026. The advent of new cars, such as electric vehicles, and new variants of SUVs, crossovers and hybrids have provided major impetus for the auto industry. Total sales are likely to reach 300,000 in this fiscal year, which is reportedly the highest volume of sales since 2018.

However, the composition of carmakers in the market has significantly changed since then. In 2018, the three Japanese automakers dominated the Pakistani automobile market, contributing to more than 80% of total sales. This has changed in recent years as Chinese and Korean carmakers have penetrated the domestic market.

With the new auto policy set to be implemented at the start of the next fiscal year, the sales of cars in Pakistan are not only likely to rise, but the composition is likely to further tilt towards the Chinese carmakers as their capabilities and efficiency in manufacturing electric vehicles will give them a clear advantage over their counterparts.

Consumer preferences regarding better quality, modern designs and competitive pricing are taking precedence, as they should. Consumers today have greater choice of varieties available in the market than they did a decade ago. Hence, the recovery in the auto industry is accompanied by greater dynamism in the market as new manufacturers are increasingly capturing a larger share.

However, even though sales in the auto industry are recovering from the slump of recent years, car ownership, at 11 per 1,000, is dismal. It is more than 22 per 1,000 in India and 173 per 1,000 in China. India had an average of more than 4.5 million cars sold in recent years, with Maruti reporting more than 180,000 sales in April 2026. Similarly, Indonesia, with a population slightly higher than that in Pakistan, had an average of more than 1 million cars sold in recent years.

The low sales and the low per capita car ownership rates in Pakistan are worsened by high inflation and taxes, a weak currency and restrictive import policies via high import duties. This results in uncompetitive prices of products, both finished and unfinished goods, across the supply chains in the industry.

The National Tariff Commission introduced the National Tariff Policy 2025-2030 which is set to transform the tariff structure on imports in Pakistan. It aims to liberalise the imports of several products by capping customs duties at 15% and eliminating the complex web of regulatory duties and additional duties. These are often imposed via statutory regulatory orders, which create significant distortions in the domestic market.

Policymakers also plan to phase out high surcharges on imported used cars, while increasing the sales of electric vehicles. The market composition of the auto industry is likely to evolve with the new policies. However, unfortunately, the increased competition and the availability of new cars threaten the sales and viability of traditional manufacturers, hence their resistance to change by pushing to keep the status quo.

It is often promulgated by those favouring tariff protection that lower tariffs do not necessarily increase exports. However, higher tariff rates are not only a tax on exports as they create anti-export bias, but they also tend to artificially inflate prices of otherwise cheaper imports that could benefit the economy vis-a-vis higher consumer welfare.

Imports allow firms to discover the most effective prices in global markets, especially if the goods are imported from more competitive markets that are major suppliers to the world market. Therefore, as highlighted by Nobel laureates Philippe Aghion and Peter Howitt, imports can drive much-needed competition within an industry. This fosters innovation, compelling firms to make productivity-enhancing investments rather than relying on rent-seeking lobbying to guarantee their profit margins.

Further, cheaper imports are not necessarily driving the balance-of-payments deficit; it is rather the over-dependence on imported fuel and the volatility in its prices, making it even more important for this transition towards electric vehicles and more fuel-efficient cars.

Lastly, the increased import competition in the market creates a &#39;selection effect&#39;, which boosts aggregate performance in the industry. It not only lowers prices in the industry but forces the least productive firms &ndash; which often pay the lowest wages and struggle to make profits &ndash; out of the industry.

A more dynamic industry that is open to competition, where the least performing firms are replaced by better performing counterparts, improves national welfare. This allows new innovative products to be added and old redundant products to be dropped.

Average productivity levels increase as firms become more competitive and more innovative with newer products that are more efficiently produced and more beneficial to consumers. This also leads to higher wages in industries as better performing firms offer higher wages to their workers. The share in capital investments by more productive firms also increases, leading to higher overall returns in the industry. Thus, it is imperative to bring about this dynamism in the business sector driven by more openness towards competition.

The focus should now shift towards implementing complementary reforms that improve the business environment, allowing both the easier entry of productive firms and exit of redundant firms, rather than neutralising the efforts of policymakers introducing more dynamism and innovation in the economy via the national tariff policy.

For instance, investments in improving human capital and the quality of research and development by ensuring better skill-based training will not only be a boon for industries but also ensure a more adaptable workforce to the changing business environment across industries.

THE WRITER IS AN ASSISTANT PROFESSOR OF ECONOMICS AND RESEARCH FELLOW AT CBER, IBA]]>
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			<title>SMEDA, FPCCI discuss MSME development</title>
			<link>https://tribune.com.pk/story/2609736/smeda-fpcci-discuss-msme-development</link>
			<comments>https://tribune.com.pk/story/2609736/smeda-fpcci-discuss-msme-development#comments</comments>
			<pubDate>Sat, 23 May 26 20:10:08 +0500</pubDate>
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				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Zaki Ijaz cites limited finance, high costs and regulatory hurdles as key challenges]]>
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				<![CDATA[Small and Medium Enterprises Development Authority (SMEDA) CEO Nadia Jahangir Seth has said the authority is working to create an enabling ecosystem for micro, small and medium enterprises (MSMEs) to grow and contribute more effectively to the national economy, according to a statement issued on Saturday.

Speaking during a visit by a SMEDA delegation to the regional office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in Lahore, Seth highlighted the vision of Prime Minister Shehbaz Sharif to boost economic growth through SME development. She said SMEDA has undertaken strategic initiatives aimed at unlocking the potential of MSMEs across the country.

&quot;SMEs are the backbone of Pakistan&#39;s economy and hold tremendous potential for job creation, innovation and export growth. SMEDA is fully committed to equipping them with the tools, opportunities and policy support needed to thrive in an increasingly competitive environment,&quot; she stated.

The CEO highlighted key interventions including dedicated initiatives for women entrepreneurs, SME registration and formalisation, export promotion support and improved facilitation services. She noted that special measures had also been introduced to help ease financial constraints and improve access to economic opportunities.

FPCCI Regional Chairman and Vice President Zaki Ijaz said MSMEs are globally recognised as a key driver of economic growth. He noted that Pakistan&#39;s SME sector continues to play a vital role despite facing structural challenges, including limited access to finance, rising cost of doing business, complicated regulatory procedures, technological adaptation barriers and export?related constraints. &quot;Pakistan&#39;s sustainable economic progress depends on a strong and resilient SME sector. Strengthening SMEs is essential for enhancing productivity, creating jobs and improving the country&#39;s export competitiveness,&quot; he remarked.

Ijaz also noted that Seth had been conferred the Tamgha?e?Imtiaz by the government in recognition of her services in SME development, public policy and women entrepreneurship promotion. SMEDA and FPCCI reaffirmed their commitment to pursuing collaborative initiatives aimed at strengthening MSMEs and enhancing their contribution to Pakistan&#39;s economic growth. Senior officers of SMEDA accompanied the CEO during the visit.]]>
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			<title>'Budget relief limited by IMF commitments'</title>
			<link>https://tribune.com.pk/story/2609739/budget-relief-limited-by-imf-commitments</link>
			<comments>https://tribune.com.pk/story/2609739/budget-relief-limited-by-imf-commitments#comments</comments>
			<pubDate>Sat, 23 May 26 20:10:08 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Minister says PIA privatisation completed, three power distribution companies next]]>
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				<![CDATA[Minister of State for Finance Bilal Azhar Kayani has said the government intends to reduce the tax burden on the salaried class in the upcoming budget, but limited fiscal space under the International Monetary Fund (IMF) programme restricts major relief, according to a statement issued on Saturday.

Speaking at a pre?budget seminar at the Rawalpindi Chamber of Commerce and Industry (RCCI), Kayani said the budget is expected in the first week of June. He assured zero tolerance for harassment by tax authorities.

Over the past two years, the government has achieved economic stability through fiscal discipline, improving foreign exchange reserves and restoring confidence among international financial institutions. Despite regional conflicts, the rupee remained stable and Pakistan did not face fuel shortages, he added.

Kayani said increasing exports and strengthening the economy are top priorities so that Pakistan can eventually move away from dependence on IMF programmes. Special measures are being introduced for small and medium enterprises, and the utilisation period for imported goods by small exporters has been extended to 18 months.

On privatisation, the minister said the process is progressing rapidly. The privatisation of Pakistan International Airlines (PIA) has been completed, and three power distribution companies are currently being privatised.]]>
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			<title>IMC to invest $335m over five years</title>
			<link>https://tribune.com.pk/story/2609737/imc-to-invest-335m-over-five-years</link>
			<comments>https://tribune.com.pk/story/2609737/imc-to-invest-335m-over-five-years#comments</comments>
			<pubDate>Sat, 23 May 26 20:10:08 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[CEO highlights localisation-led growth of auto sector]]>
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				<![CDATA[Indus Motor Company (IMC) Chief Executive Ali Asghar Jamali has said that Toyota has made a direct investment in Pakistan of $736 million in the past 35 years, and the company has planned to further invest $335 million over the next five years.

These investments will make IMC the first automotive company in Pakistan to invest more than $1 billion in the automotive industry.

&quot;The company has also contributed approximately $6.3 billion in taxes to the national exchequer over the past three and a half decades, accounting for around 1% of total government tax collection annually,&quot; said Jamali while speaking at a ceremony to celebrate Toyota&#39;s 35 years in Pakistan, held at its manufacturing plant at Port Qasim.

He added that today IMC&#39;s extensive network of dealers and suppliers supports more than 55,000 jobs across its value chain, where local parts makers supply over Rs210 million worth of parts every working day to support the production of Toyota vehicles for Pakistan. The company&#39;s &quot;Make-in-Pakistan&quot; expedition has protected the outflow of $6.5 billion in import bill through localisation and import substitution.

Indus Motor was incorporated in 1989 as a joint venture between the House of Habib, Toyota Tsusho Corporation, and Toyota Motor Corporation, and is the manufacturer and assembler of Toyota vehicles, parts, and accessories in Pakistan.

&quot;We are celebrating a legacy of manufacturing excellence, localisation, and sustained contribution to the country&#39;s automotive industry, with over 1.2 million vehicles sold nationwide since the start of operations.

&quot;Nearly three and a half decades ago, the first Toyota Corolla was rolled out, which today stands at IMC&#39;s headquarters. From an initial annual manufacturing capacity of 5,000 vehicles to 76,000 vehicles per year today, IMC has grown significantly over the past 35 years,&quot; Jamali said.]]>
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			<title>MoU inked with Changfa Group for agri-machinery</title>
			<link>https://tribune.com.pk/story/2609734/mou-inked-with-changfa-group-for-agri-machinery</link>
			<comments>https://tribune.com.pk/story/2609734/mou-inked-with-changfa-group-for-agri-machinery#comments</comments>
			<pubDate>Sat, 23 May 26 20:10:08 +0500</pubDate>
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				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Delegation tour StarCharge Group, a global leader in EV charging and smart energy technology in more than 60 countries]]>
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				<![CDATA[Special Assistant to the Prime Minister Haroon Akhtar Khan and Federal Minister for National Food Security Rana Tanveer Hussain have visited leading industrial enterprises in Changzhou to strengthen industrial collaboration with China.

The delegation toured StarCharge Group, a global leader in EV charging and smart energy technology operating in more than 60 countries. The delegation also visited Changfa Group, a major manufacturer of tractors, agricultural machinery and diesel engines. Kingsbridge Ventures and Changfa signed an MoU.]]>
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			<title>Gold steady despiteglobal slide</title>
			<link>https://tribune.com.pk/story/2609604/gold-steady-despiteglobal-slide</link>
			<comments>https://tribune.com.pk/story/2609604/gold-steady-despiteglobal-slide#comments</comments>
			<pubDate>Fri, 22 May 26 20:10:47 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Stronger dollar weighs on bullion globally; rupee edges up]]>
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				<![CDATA[Gold prices in Pakistan remained unchanged on Friday despite a decline in international bullion markets, where stronger oil prices and a firmer US dollar weighed on investor sentiment and increased expectations of another US interest rate hike.

In the local market, the price of gold per tola stayed steady at Rs475,362, according to rates issued by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10-gram gold remained unchanged at Rs407,546. On Thursday, the domestic gold market had recorded a sharp increase of Rs5,000 per tola amid earlier global gains and currency-related adjustments.

Internationally, spot gold fell 0.9% to $4,502.59 per ounce by 1457 GMT after touching an intraday low of around 1%, according to Reuters. Bullion was also headed for its second consecutive weekly decline, losing nearly 0.8% during the week.

US gold futures for June delivery also dropped 0.9% to $4,502.70 per ounce, as investors reassessed the outlook for US monetary policy amid persistent inflationary pressures and elevated energy prices.

Market analysts said rising oil prices have intensified concerns that inflation could remain sticky in major economies, particularly in the United States, prompting traders to increase bets on further tightening by the US Federal Reserve. According to market expectations, there is now a 58% chance of at least one US interest rate hike by the end of 2026.

Higher interest rates generally reduce the appeal of non-yielding assets such as gold, while a stronger dollar makes bullion more expensive for overseas buyers.

Meanwhile, silver prices in Pakistan remained unchanged at Rs8,034 per tola.

Commenting on market activity, Adnan Agar, Director at Interactive Commodities, said the bullion market remained sluggish ahead of a US bank holiday on Monday.

&quot;Gold is currently trading around $4,510 to $4,515 per ounce. The market is slow because of the US holiday and investors are also monitoring the final stages of Iran-US developments,&quot; he said.

Agar noted that despite current weakness, gold may find strong support at lower levels. &quot;Even if gold declines further, there is a strong possibility it will not fall below the $4,100-$4,200 range and could rebound from there,&quot; he added.

Analysts said geopolitical developments, particularly negotiations involving Iran and the United States, would remain a key trigger for bullion prices in the coming sessions.

Meanwhile, the Pakistani rupee edged up 0.01% against the US dollar in the inter-bank market on Friday, gaining Rs0.03 to close at 278.52, compared to Thursday&#39;s closing of 278.55, according to State Bank data.

In global markets, the US dollar hovered near a six-week high amid volatile trading triggered by conflicting signals over a potential US-Iran peace deal, though hopes of progress lent some support to sentiment. The dollar index stood at 99.24, slightly below the recent peak of 99.515, its highest level since April 7.]]>
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			<title>Oil prices rise on investor doubt</title>
			<link>https://tribune.com.pk/story/2609601/oil-prices-rise-on-investor-doubt</link>
			<comments>https://tribune.com.pk/story/2609601/oil-prices-rise-on-investor-doubt#comments</comments>
			<pubDate>Fri, 22 May 26 20:10:47 +0500</pubDate>
			<dc:creator>
				<![CDATA[Reuters]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Brent crude futures were up 82 cents, or 0.8%, at $103.40 a barrel by 1653 GMT]]>
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				<![CDATA[Oil prices rose on Friday as investors doubted the prospect of a breakthrough in US-Iran peace talks, but prices remained on track for a weekly loss.

Brent crude futures were up 82 cents, or 0.8%, at $103.40 a barrel by 1653 GMT. US West Texas Intermediate futures were 54 cents, or 0.56%, higher at $96.89. Both had risen over 3% earlier in the session.

On a weekly basis, Brent was more than 5% lower and WTI was down by more than 8%, with prices fluctuating sharply as expectations for a peace deal between Iran and the US shifted.

A senior Iranian source told Reuters earlier that gaps with the US have narrowed, and US Secretary of State Marco Rubio spoke of &quot;some good signs&quot; in talks.]]>
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			<title>Govt invites bids for privatisation of three Discos</title>
			<link>https://tribune.com.pk/story/2609068/govt-invites-bids-for-privatisation-of-three-discos</link>
			<comments>https://tribune.com.pk/story/2609068/govt-invites-bids-for-privatisation-of-three-discos#comments</comments>
			<pubDate>Tue, 19 May 26 22:11:43 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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				<![CDATA[Investors can acquire between 51% and 100% shareholding with management control]]>
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				<![CDATA[The government has formally invited expressions of interest from local and international investors for the privatisation of three major electricity distribution companies(DISCOs): Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO), according to a statement on Tuesday.

Investors can acquire between 51% and 100% shareholding with management control in each Discos. The three companies collectively serve more than 14 million consumers across major industrial, commercial and urban centres of Punjab and the Islamabad region.]]>
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			<title>SBP forex reserves increase $17m</title>
			<link>https://tribune.com.pk/story/2608174/sbp-forex-reserves-increase-17m</link>
			<comments>https://tribune.com.pk/story/2608174/sbp-forex-reserves-increase-17m#comments</comments>
			<pubDate>Thu, 14 May 26 20:47:17 +0500</pubDate>
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				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2608174</guid>
			<description>
				<![CDATA[Local gold inches up as global tensions hold bullion steady]]>
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				<![CDATA[Pakistan&#39;s foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $17 million on a weekly basis to $15.87 billion during the week ended May 8, 2026, the central bank said on Thursday.

The country&#39;s total liquid foreign reserves stood at $21.34 billion. Of these, the net reserves held by commercial banks amounted to $5.47 billion.

Earlier, the SBP reported that it had received around $1.3 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). The IMF Executive Board completed the third review under the EFF on May 8 and approved the disbursement of SDR 760 million for Pakistan. In addition, the board also approved the second tranche of SDR 154 million under the RSF.

According to the central bank, Pakistan received a total of SDR 914 million, equivalent to around $1.3 billion, on May 12, 2026. The SBP said the inflow would be reflected in the foreign exchange reserves data for the week ending May 15, 2026.

Furthermore, the Pakistani rupee continued its strengthening streak with a marginal rise of 0.01% against the US dollar in the interbank market on Thursday, closing at 278.62, up Rs0.03 from Wednesday&#39;s close at 278.65.

Meanwhile, gold prices in Pakistan edged higher, tracking slight gains in the international market, where bullion remained broadly steady as investors weighed developments in the US-Israel conflict with Iran and signals from high-level diplomatic engagements between the United States and China.

In the local market, the price of gold per tola rose by Rs1,000 to settle at Rs492,362, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association. Similarly, the price of 10-gram gold increased by Rs858 to Rs422,121.

On Wednesday, gold had closed at Rs491,362 per tola after declining by Rs1,100, reflecting continued volatility in the domestic bullion market in line with shifting global cues. In the international market, spot gold was little changed at $4,689.99 per ounce at 1043 am EDT (1443 GMT), while the US gold futures for June delivery slipped 0.2% to $4,695.80. The US dollar index edged up 0.2%, making dollar-denominated bullion relatively more expensive for holders of other currencies and slightly capping the upside momentum.

The global sentiment remained cautious as investors monitored geopolitical risks, including tensions in the Middle East. Oil markets also reacted to reports from Iran regarding vessel movement through the Strait of Hormuz, while diplomatic discussions between the US and Chinese leadership added to broader uncertainty.

Silver prices in Pakistan also moved higher, gaining Rs65 to reach Rs9,204 per tola, mirroring the upward bias in precious metals despite mixed global trading signals.]]>
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			<title>Pakistan, Vietnam discuss PTA to cut tariffs</title>
			<link>https://tribune.com.pk/story/2608177/pakistan-vietnam-discuss-pta-to-cut-tariffs</link>
			<comments>https://tribune.com.pk/story/2608177/pakistan-vietnam-discuss-pta-to-cut-tariffs#comments</comments>
			<pubDate>Thu, 14 May 26 20:47:17 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
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			<description>
				<![CDATA[The ambassador noted that Vietnam remains one of Asia's fastest-growing economies]]>
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				<![CDATA[Evolving geopolitical and trade dynamics in the region have created new opportunities for Pakistan, particularly for Karachi, which has the potential to rapidly emerge as a regional trade and logistics hub owing to the strategic importance of Karachi Port, Vietnamese Ambassador Pham Anh Tuan has said, according to a statement issued on Thursday.

Speaking during a visit to the Karachi Chamber of Commerce and Industry (KCCI), the ambassador observed that global supply chain disruptions caused by Middle East tensions have compelled businesses to explore alternative trade and transhipment routes. Karachi Port could play a vital role in connecting regional markets, especially the Middle East, through enhanced maritime activities.

The ambassador noted that Vietnam remains one of Asia&#39;s fastest-growing economies. Bilateral trade stands at about $850 million, which falls significantly short of its potential. Both countries have initiated discussions on a preferential trade agreement (PTA), under which tariffs on more than 100 product lines are expected to be reduced to zero. Negotiations are progressing positively.

The ambassador invited KCCI to send a high-powered trade delegation to Vietnam to explore investment opportunities, joint ventures and commercial partnerships.]]>
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			<title>Pakistan, China expand cooperation</title>
			<link>https://tribune.com.pk/story/2607966/pakistan-china-expand-cooperation</link>
			<comments>https://tribune.com.pk/story/2607966/pakistan-china-expand-cooperation#comments</comments>
			<pubDate>Wed, 13 May 26 21:33:08 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2607966</guid>
			<description>
				<![CDATA[Challenge SEZ attracts $150m investment as EV manufacturing tops trade talks]]>
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				<![CDATA[Pakistan and China are expanding cooperation across 21 priority sectors with investments exceeding $1.5 billion, reflecting the growing strength of the strategic economic partnership between the two countries, Ambassador to China Khalil Hashmi has said, according to statements issued on Wednesday.

Speaking at a high?level interaction organised by the Foreign Affairs Liaison Office (FALO) Karachi, Hashmi said Chinese investment in Pakistan continues to grow in sectors including defence production, information technology, agriculture, education, medical equipment, infrastructure development, pharmaceuticals and manufacturing. Joint ventures between Pakistani and Chinese companies are also increasing steadily.

The ambassador highlighted growing demand for Pakistani food products and agricultural goods in Chinese markets and said the government is making focused efforts to further enhance exports to China. Describing the China?Pakistan Economic Corridor (CPEC) as a transformational project, he said it has laid the foundations for prosperity, regional connectivity and economic growth, while future phases will create greater opportunities in industrialisation, agriculture, technology, logistics and human capital development. &quot;Pakistan will not allow hostile elements or terrorists to undermine bilateral cooperation,&quot; Hashmi said, adding that the government is fully committed to ensuring foolproof security for Chinese engineers, technical experts and personnel working in the country.

Earlier, FALO Karachi Director General Muhammad Irfan Soomro described the interaction as a strategic conversation about Pakistan&#39;s economic future and Karachi&#39;s growing role as a bridge between the two countries. He said influence today is shaped by innovation, connectivity, supply chains, technology and economic strength, making economic diplomacy the new frontline of global competition. Pakistan must learn from China&#39;s success in industrialisation, export competitiveness, technological innovation, smart infrastructure and agricultural modernisation, he added.

Sindh Investment Advisor Syed Qasim Naveed Qamar assured participants that investors in Karachi and across Sindh would receive full facilitation and security support, reiterating the provincial government&#39;s commitment to domestic and foreign investors. Chinese Consul General Yang Yundong praised the interaction as an important platform for strengthening economic and people?to?people ties, describing Pakistan and China as &#39;iron brothers&#39; whose friendship has withstood the test of time over 75 years.

Commerce minister discusses trade, EV cooperation

Separately, Federal Minister for Commerce Jam Kamal Khan held a detailed meeting with Chinese Minister Counsellor Yang Guangyuan to discuss bilateral trade, industrial cooperation, agriculture modernisation, logistics connectivity, supply chain resilience and emerging investment opportunities under the broader framework of the strategic economic partnership, said a statement issued on Wednesday.

Kamal highlighted the evolving global trade environment, noting that supply chain disruptions have reinforced the importance of resilient regional trade corridors. Pakistan&#39;s geographic location positions it as a natural gateway connecting China, Central Asia, the Middle East and emerging markets, he said.

A major focus of the discussion was Pakistan?China industrial cooperation, particularly in electric vehicles (EVs), renewable energy, battery manufacturing and advanced industrial technologies. Kamal noted that Chinese automotive brands have established a growing presence in Pakistan through assembly operations, and the next phase should focus on deeper industrial collaboration, localisation, technology transfer and joint ventures in EV manufacturing. Pakistan offers not only a growing domestic market but also significant export potential for regional and African markets.

The Chinese side appreciated Pakistan&#39;s interest in expanding industrial cooperation and acknowledged the strong participation of Pakistani companies in emerging sectors such as IT, EVs, energy technologies and manufacturing.

Agriculture cooperation also featured prominently. Kamal said changing weather patterns, fertiliser supply disruptions and food security concerns have made agricultural modernisation an urgent global priority. He highlighted Balochistan&#39;s potential for drought?resistant crops such as olives, pistachios, almonds, dates and pine nuts, stressing the importance of shifting towards sustainable, climate?resilient agriculture.

The meeting also explored community?focused development cooperation, including water security solutions, renewable energy applications, solar?powered community infrastructure, women&#39;s vocational empowerment and rural welfare initiatives. Gwadar&#39;s emerging role as a regional trade hub was also discussed.

Challenge SEZ project reviewed

Federal Minister for Board of Investment Qaiser Ahmed Sheikh held a productive meeting with a high?level delegation of Challenge Fashion (Private) Limited, led by Chairman Huang, to discuss progress on the Challenge Special Economic Zone (SEZ) in Lahore.

Sheikh welcomed the delegation and appreciated Challenge Group&#39;s continued confidence in Pakistan&#39;s economy, terming the SEZ a landmark initiative. According to the statement issued on Wednesday, the project, with a proposed investment of $150 million, reflects a strong commitment to export?oriented industrialisation, employment generation and technology transfer. Its success will serve as a model for other international investors, particularly Chinese enterprises.

Both sides discussed development status, including progress on infrastructure, utilities and regulatory facilitation. The minister assured full government support for timely resolution of outstanding matters. The discussion also focused on SEZs in other countries, particularly Vietnam, where streamlined procedures have attracted large?scale foreign investment. WITH ADDITIONAL INPUT FROM APP]]>
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			<title>Data-driven policymaking key to growth</title>
			<link>https://tribune.com.pk/story/2607968/data-driven-policymaking-key-to-growth</link>
			<comments>https://tribune.com.pk/story/2607968/data-driven-policymaking-key-to-growth#comments</comments>
			<pubDate>Wed, 13 May 26 21:33:08 +0500</pubDate>
			<dc:creator>
				<![CDATA[APP]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2607968</guid>
			<description>
				<![CDATA[IT minister stresses e-commerce, digitisation can help expand economy significantly]]>
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				<![CDATA[Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja on Wednesday said Pakistan&#39;s ongoing digital transformation under CPEC 2.0 carries significant potential to expand the national economy through data-driven policymaking, digitisation and growth in e-commerce.

Addressing the inauguration ceremony of the IBI Pakistan Digital Economy Headquarters, she said the initiative followed the prime minister&#39;s visit to China in September last year, which led to consultations with relevant stakeholders and the establishment of the Digital Economy Headquarters at a Special Technology Zone.

She said the headquarters was a flagship initiative to strengthen high-priority economic cooperation between Pakistan and China. Operating under the China-Pakistan Economic Corridor (CPEC) framework, it integrates trade facilitation, investment promotion, supply chain digitisation, SME empowerment and policy dialogue under a unified execution platform.

She pointed out that Pakistan&#39;s engagement with CPEC began in 2013 and Islamabad and Beijing had continued to deepen their partnership, with relations now extending beyond traditional diplomatic ties.

Fatima emphasised that Pakistan had entered a new phase of cooperation focused on improved execution of development initiatives. The completion of the Digital Economy Headquarters is part of a whole-of-government approach, supported by the Special Investment Facilitation Council (SIFC), which has helped address longstanding administrative and operational bottlenecks.

Outlining the Digital Nation Pakistan Act, the IT minister said it was built on three pillars &ndash; digital economy, digital society and digital governance, with the digital economy being the government&#39;s top priority.

Pakistan&#39;s gross domestic product (GDP) &ndash; the total size of the economy &ndash; exceeds $400 billion, with nearly half of it still within the informal sector. Citing industry estimates, she said digital transformation across sectors could add 5% to 7% to GDP by 2030, strengthening the case for accelerated digital adoption.

She highlighted Pakistan&#39;s expanding digital ecosystem, including more than 200 million mobile subscribers and over 157 million mobile internet users, saying &quot;this provides a strong foundation for e-commerce growth&quot;.

Emphasising the importance of data-driven governance, the minister said future policymaking in both government and business sectors must rely on accurate data to ensure efficiency, transparency and improved planning.]]>
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			<title>Textile sector presents budget proposals</title>
			<link>https://tribune.com.pk/story/2607791/textile-sector-presents-budget-proposals</link>
			<comments>https://tribune.com.pk/story/2607791/textile-sector-presents-budget-proposals#comments</comments>
			<pubDate>Tue, 12 May 26 20:51:47 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2607791</guid>
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				<![CDATA[FinMin seeks industry cooperation to extend digital monitoring from sugar, cement sectors]]>
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				<![CDATA[Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting on Tuesday with a high level delegation representing Pakistan&#39;s textile and apparel sector, which presented a comprehensive set of proposals for the Federal Budget 2026 27 aimed at strengthening the sector&#39;s competitiveness, according to an official statement.

The delegation highlighted the textile sector&#39;s vital contribution to exports, employment and foreign exchange earnings. It emphasised the need for a stable, growth oriented policy environment to cope with global market dynamics and increasing regional competition. Key proposals focused on taxation reforms, energy affordability, export facilitation, industrial modernisation, liquidity management, investment promotion and ease of doing business.

The representatives stressed that timely policy support would strengthen export competitiveness, promote value added manufacturing and attract fresh investment. They called for efficient refund mechanisms, rationalised energy pricing structures, facilitation for exporters and reduced compliance burden.

Aurangzeb appreciated the sector&#39;s engagement and reaffirmed the government&#39;s commitment to regular consultations through the Tax Policy Office. He discussed ongoing efforts to promote transparency and documentation through digital monitoring systems already introduced in sugar, cement, beverages and tobacco sectors across the board, including in units owned by the prime minister&#39;s family.

The finance minister invited the textile sector to extend cooperation towards similar digital monitoring mechanisms. Representatives acknowledged the importance of transparency and agreed to continue consultations to explore workable solutions for the industry&#39;s unique operational structure.]]>
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			<title>Pak-China sign $13b in MoUs, JVs in 2 years</title>
			<link>https://tribune.com.pk/story/2607601/pak-china-sign-13b-in-mous-jvs-in-2-years</link>
			<comments>https://tribune.com.pk/story/2607601/pak-china-sign-13b-in-mous-jvs-in-2-years#comments</comments>
			<pubDate>Mon, 11 May 26 20:32:28 +0500</pubDate>
			<dc:creator>
				<![CDATA[Our Correspondent]]>
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			<category><![CDATA[Business]]></category>
			<guid isPermaLink="false">https://tribune.com.pk/?p=2607601</guid>
			<description>
				<![CDATA[A separate MoU was signed between KCCI and China's IBI Group]]>
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				<![CDATA[Pakistan and China have signed more than 300 memorandums of understanding (MoUs) and over three dozen joint venture agreements over the last two years, with a cumulative value exceeding $13 billion, Pakistan&#39;s Ambassador to China Khalil Hashmi has said, according to a statement issued on Monday.

Speaking at a meeting with a 70?member Chinese delegation at the Karachi Chamber of Commerce and Industry (KCCI), Hashmi said the government has established a comprehensive mechanism to ensure effective implementation of MoUs. Pakistan&#39;s realisation rate from MoUs to formal contracts has reached nearly 30%.

A separate MoU was signed between KCCI and China&#39;s IBI Group, a leading industrial internet and digital trade platform, to promote digital economy and industrial development.

The ambassador also disclosed that Pakistan is in active discussions with CATL, one of the world&#39;s largest battery manufacturers, to establish cooperation and investment initiatives.]]>
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