Business

ISLAMABAD — Shahid Imran, Convener of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Committee on Food, highlighted the crucial role of modern livestock management in boosting Pakistan’s halal meat exports. He emphasized the need for comprehensive reforms across the supply chain in a statement made on Sunday. Essential Reforms in Livestock Management Imran stressed the importance of advancements in key areas. These include improvements in production processes, enhancement of cold storage infrastructure, and adopting advanced breeding techniques. Enhancing disease control measures is also critical to success. Meeting export market requirements involves aligning with international certification standards. This modernization is essential for improving the quality and safety of meat products. Potential for Global Trade Expansion By focusing on these strategic improvements, Pakistan aims to significantly increase its presence in the expanding global halal meat market. With the rising worldwide demand for halal meat, substantial opportunities exist for trade growth and increased revenue.

BEIJING — Pakistani publishers are actively seeking stronger copyright ties with China to enhance their collaboration within the publishing sector. Current Collaboration and Future Potential China and Pakistan collaborate across multiple sectors. There’s significant potential for growth in publishing, according to Daniyal Salam, Director at Ferozsons (Pvt.) Ltd. Insights from the Beijing International Book Fair The 32nd Beijing International Book Fair (BIBF) was instrumental in showcasing the strong ties between the two nations. Salam underscored the necessity for increased joint efforts in publishing. The fair became a platform for discussing potential collaborations, particularly in strengthening copyright mechanisms between Pakistani and Chinese publishers. Broader Cultural and Educational Efforts Strengthening copyright cooperation is part of a larger mission to bolster cultural and educational exchanges. This initiative aims to promote literature dissemination and appreciation between the countries. These efforts could assist Pakistani publishers in securing a significant presence within the influential Chinese market.

PESHAWAR — The release of the Khyber Pakhtunkhwa budget for 2026-27 has sparked conversations across the bustling markets of Peshawar. Residents are emphasizing the need for tangible improvements in service delivery rather than just budget declarations. Demand for Effective Service Delivery Zakir Khan, a 55-year-old fruit seller, captures this common view. Browsing through headlines at Hashtnagri Bazaar, Khan stressed that effective service delivery is more important than promises in budget speeches. He noted that citizens face several challenges, prioritizing improved infrastructure and public services over financial allocations on paper. Need for Concrete Government Actions Local residents are urging the provincial government to implement actions that have a positive impact on their daily lives. They argue that the budget’s success should be measured by real-world improvements. Key Areas for Development Priority Sectors Healthcare Education Transportation Advancements in these sectors will reveal the budget’s true effectiveness, moving the focus away from its financial narrative.

ISLAMABAD — Pakistan has secured a $700 million policy-based loan from the Asian Development Bank (ADB) aimed at supporting significant insurance reforms. The agreement was signed in Islamabad by Secretary Economic Affairs Muhammad Humair Karim and ADB Deputy Country Director Hussain Haider. Transformative Insurance Sector Reforms The loan is geared towards bringing transformative changes to Pakistan’s insurance sector. Key structural reforms are designed to: Promote sectoral growth Increase financial inclusion Improve risk management practices This initiative is expected to enhance financial stability and deliver better services to consumers across the country. Broader Economic Impact Officials highlight that the program will have broader economic benefits. It aims to establish effective insurance regulations and foster overall market development. Commitment to International Cooperation This partnership between Pakistan and the ADB underscores a strong commitment to enhancing economic sectors through international collaboration and continuous support. It signifies a dedication to promoting economic growth and stability.

ISLAMABAD — Pakistan and the Asian Development Bank (ADB) have signed a $700 million policy-based loan agreement aimed at reforming Pakistan’s insurance sector. Insurance Transformation Program Details This loan, part of the Insurance Transformation Program Sub-Program 1, includes $250 million on concessional terms, highlighting ADB’s commitment to Pakistan. Concessional Loan Terms The concessional terms are designed to ease Pakistan’s financial burden and effectively support reform initiatives. Asian Development Bank’s Support Muhammad Humair Karim Kidwai, Secretary of the Economic Affairs Division, thanked ADB for its ongoing support, recognizing ADB as a crucial development partner for Pakistan. Goals of the Insurance Reforms The reforms focus on enhancing the regulatory environment in the insurance industry. These efforts aim to boost growth and ensure financial stability within Pakistan’s economy. Impact on Pakistan’s Economy Enhancement of regulatory frameworks Promotion of economic growth Strengthening of financial stability This agreement marks an important step toward achieving sustained economic development in Pakistan.

PESHAWAR — Khyber Pakhtunkhwa Chief Minister Sohail Afridi announced the province’s plan to address a Rs 48 billion budget shortfall by leveraging savings, thus avoiding new taxes. The announcement was made during the 2026-27 financial year budget presentation titled “Khushal Khyber Pakhtunkhwa,” delivered to the Provincial Assembly on Friday. Commitment to Fiscal Discipline Chief Minister Afridi highlighted the government’s commitment to tackling the fiscal deficit through careful financial management. By refraining from implementing additional taxes, the government aims to maintain economic stability across the province. Focus on Economic Growth The strategy prioritizes stimulating economic growth and development within the region. The government’s approach underscores its dedication to sustainable and responsible fiscal practices, which are vital for ensuring long-term prosperity. Strategic Resource Allocation The proposed budget details a strategic resource allocation plan to boost economic prosperity in Khyber Pakhtunkhwa. It guarantees that resource management is fully aligned with the province’s broader growth goals.

ABBOTTABAD — The Khyber Pakhtunkhwa government has announced a Rs 2.170 trillion budget for the fiscal year 2026-27. This budget allocates substantial funds to key areas such as development, education, healthcare, social welfare, and law and order. However, the stakeholders in the Hazara Division have shown mixed reactions, particularly emphasizing concerns about regional development. Reactions from Hazara Division While the budget plans to foster growth throughout the province, many residents and officials in Hazara feel that their region’s needs are overlooked. They have expressed dissatisfaction due to a perceived imbalance in the distribution of funds. They worry that this imbalance may inadequately support local infrastructure and welfare projects. Government’s Commitment to Development The government representatives assert that the budget aims to promote equitable development across Khyber Pakhtunkhwa. They have recognized the feedback from Hazara and promised to consider these regional demands in future planning. This mixed reaction highlights the ongoing challenge of balancing provincial and regional development objectives.

PESHAWAR — The Khyber Pakhtunkhwa government has pledged Rs8.4 billion for the Education Sector Endowment Fund (ESEF) and the Free Textbooks Programme for the fiscal year 2026-27. This substantial allocation demonstrates the province’s dedication to providing accessible and equitable education. Highlights of the 2026-27 Budget The funding was announced as part of the 2026-27 budget, reflecting the government’s focus on educational initiatives. The budget aims to remove barriers to quality education for students throughout the region. Significant Educational Initiatives The ESEF and the Free Textbooks Programme play a pivotal role in this initiative. These programs are essential for delivering free educational materials and offering financial assistance to students who need it most. Expected Impact on Education Officials are optimistic about the positive impact of these investments on educational outcomes. The provision of complimentary educational resources and financial grants is expected to benefit a larger number of students, enhancing their educational experience.

KARACHI — Port Qasim is witnessing a significant surge in shipping activity. At present, container vessels Albert-P and Nile Dutch Lion are docked at Container Terminals 1 and 2. Additionally, the ships Aquavita Trust and Dayra Anita, carrying 101,759 tonnes of coal, arrived at the outer anchorage within the last 42 hours. Recent Departures and Arrivals Over the past 24 hours, nine ships have been active at the Port Qasim Authority (PQA) berths. On Friday morning, Nile Dutch Lion and Kouros Diamond set sail. Meanwhile, Rhine, Metro Mistral, and Meghna Venus are scheduled to depart by the afternoon. Cargo Volume and Shipments Port Qasim handled a cargo volume of 197,148 tonnes in the past 24 hours. This includes 170,819 tonnes of imported goods and 26,329 tonnes of export cargo. Containerized cargo comprised 5,966 containers, with 5,172 TEUs for imports and 1,815 TEUs for exports. Upcoming Shipping Activity Currently, 11 ships are stationed at the port’s outer anchorage. On Friday, Obe Grande, Aquavita Trust, and MSC Tia V are scheduled to berth at Pakistan International Bulk Terminal, Hutchison Ports Qasim, and Qasim International Container Terminal, respectively. Furthermore, two container ships, MSC Maxico V and Safeen Power, are expected to arrive at Port Qasim on Saturday.

FAISALABAD — The National Textile University Faisalabad (NTUF) collaborated with the State Bank of Pakistan (SBP) to host an insightful seminar on the dual banking system. This event aimed to bridge the gap between conventional and Islamic banking for budding finance leaders. Objectives and Audience Held at the Faisalabad Business School, the seminar targeted students in the BS Accounting & Finance and Bachelor of Business Administration (BBA) programs. It served as an educational platform for participants to grasp the complexities of both banking systems. Insights into Banking Systems Participants engaged in discussions that provided a comprehensive overview of the operational dynamics and regulatory frameworks distinguishing conventional banking from Islamic banking. This exploration aimed to deepen their understanding of the financial sector. Collaboration with Industry Experts Partnering with the SBP offered students a unique opportunity to interact with industry experts. Participants explored potential finance career paths and gained valuable insights into the financial industry’s opportunities.