Business

ISLAMABAD — The Pakistani Rupee experienced a modest gain, appreciating by 3 paisa against the US Dollar during interbank trading on Wednesday. The Rupee closed at Rs 278.27, up from the previous day’s rate of Rs 278.30. US Dollar Rates in Open Market The Forex Association of Pakistan reported the US Dollar’s open market buying rate at Rs 279.00 and the selling rate at Rs 279.35. International Currency Movements The Euro’s value against the Rupee decreased by Rs 0.23, settling at Rs 322.96, as per the State Bank of Pakistan. Stable and Varying Exchange Rates The Japanese Yen’s exchange rate held steady at Rs 1.73. Meanwhile, the British Pound saw a minor increase of Rs 0.02, ending at Rs 373.37. The Emirate Dirham’s rate remained consistent at Rs 75.77. The Saudi Riyal experienced a slight decline of 1 paisa, closing at Rs 74.15.

ISLAMABAD — Dr. Kabir Ahmed Sidhu, Chairman of the Securities and Exchange Commission of Pakistan (SECP), emphasized the transformative impact of financial technology on capital market investments for all Pakistanis. Speaking on Wednesday, he stressed that fintech solutions are crucial for simplifying, securing, and making investment processes more user-friendly for ordinary citizens. Fintech Boosting Investment Accessibility Dr. Sidhu described how technology could enhance public participation in economic growth and wealth creation. The SECP aims to use digital advancements to remove entry barriers, allowing more individuals to benefit from engaging with capital markets. Commitment to Financial Inclusion The SECP chairman affirmed his dedication to expanding financial inclusion through technological innovations. This strategy supports the Commission’s goals to advance Pakistan’s economic development.

ISLAMABAD — The Retailer Tax Scheme has initiated a one-year pilot phase. This move helps the government assess the scheme’s effectiveness and resolve any implementation issues. Syed Naveed Qamar, Chairman of the National Assembly Standing Committee on Finance and Revenue, announced this initiative. Objectives of the Pilot Phase The key objective of the pilot phase is to identify and fix any shortcomings ahead of the scheme’s full-scale implementation. A smooth rollout process remains a primary focus. Emphasis in Committee Meeting In a recent committee meeting, Qamar stressed the need to identify potential challenges during the trial period. This proactive strategy aims to ensure the scheme’s successful deployment. Part of Broader Fiscal Reforms The Retailer Tax Scheme is a component of broad fiscal reforms aimed at improving tax compliance and boosting revenue collection in the retail sector. Such reforms are crucial for sustaining a robust market economy.

OTTAWA — A high-level Pakistani delegation led by Additional Secretary of the Board of Investment, Zulfiqar Ali, has arrived in Ottawa. The team is set to discuss the proposed Foreign Investment Protection and Promotion Agreement (FIPPA) with Canadian officials. Objective of the Bilateral Investment Treaty The Bilateral Investment Treaty (BIT) seeks to enhance economic cooperation between Pakistan and Canada. This agreement aims to strengthen bilateral ties and boost investment opportunities in both countries. Delegation Composition and Importance The Pakistani delegation consists of senior officials from various sectors. Their presence highlights the importance both nations place on strengthening economic connections. The inclusion of diverse sectors demonstrates the comprehensive approach to these negotiations. Key Discussion Points During the talks, the parties are expected to address mutual interests and concerns. The framework aims to promote investment flows between Pakistan and Canada. Key discussion areas include: Investment agreements and frameworks Legal protections for investors Economic growth opportunities Anticipated Outcomes The negotiations mark a significant step in fortifying bilateral relations. The proposed treaty is expected to offer legal protection for investors from both countries. It should encourage greater economic engagement and foster a robust economic partnership.

RAWALPINDI — Engineer Aamir Khattak, the Commissioner of Rawalpindi Division, has emphasized the urgent need to complete the Rawalpindi Master Plan and the Commercial Market rehabilitation project. In a recent meeting, Khattak highlighted their critical role in supporting planned growth and sustainable urban development. Importance of the Rawalpindi Master Plan The Rawalpindi Master Plan is a vital framework for managing urban expansion and directing essential infrastructure improvements. Khattak urged stakeholders to collaborate effectively to ensure timely and accurate implementation of all project elements. Efforts in the Commercial Market Rehabilitation The Commercial Market rehabilitation project is an extensive initiative aimed at rejuvenating key urban areas. This effort strives to boost commercial activities and enhance the city’s aesthetic appeal. Commissioner Khattak emphasized the importance of sticking to set timelines to achieve these objectives efficiently.

ISLAMABAD — Nelson Azeem, the Parliamentary Secretary for National Health Services, Regulations and Coordination, has lauded the federal budget for its strategic direction amidst challenging times. He expressed appreciation for the finance team’s relief efforts aimed at stimulating the economy. Budget Debate Highlights During the budget debate, Azeem noted that no new taxes were introduced that would burden the population significantly. This strategy aims to maintain public trust and encourage economic activity. Call for Population Control Policy Azeem stressed the necessity of a comprehensive population control policy. According to him, such a policy is vital for securing long-term sustainable economic growth. This strategy aligns population trends with available resources, promoting economic stability.

QUETTA — The Balochistan government has unveiled significant investments to enhance youth education and skill development. During a recent budget session, Provincial Finance Minister Shoaib Nosherwani announced these pivotal initiatives. Commitment to Education and Skill Development The government is committing Rs 54 million to the Shaheed Benazir Bhutto Scholarship (SBBS). This scholarship fund is designed to support deserving students in achieving their educational aspirations. Investment in Digital Skills An additional Rs 1.7 billion is being allocated to the Digibizz program. This strategic initiative focuses on developing digital competencies among the youth, meeting the rising demand for tech-savvy professionals across diverse industries. Comprehensive Regional Development Strategy These educational initiatives are part of a broader strategy to enhance the region’s educational infrastructure. Furthermore, Rs 2 billion has been devoted to the Low Cost Housing Project, reflecting a comprehensive commitment to improving both housing and educational opportunities in the region.

QUETTA — The Balochistan government has declared a 7 percent salary and pension increase for provincial employees for the financial year 2026-27. This step follows the federal model despite the province’s ongoing economic challenges. Commitment to Employee Welfare In the Annual Budget 2026-27 session, Finance Minister Shoaib Nosherwani emphasized the government’s commitment to employee welfare through this raise. He highlighted the importance of enhancing the living standards for public sector workers and their families. Strategic Employment Plans Minister Nosherwani outlined strategies to generate new jobs for the youth of Balochistan. These initiatives focus on driving economic growth and empowering the younger population. Economic Relief for Government Employees The salary and pension increase aims to provide economic relief for government employees. This reflects the provincial administration’s dedication to public sector welfare, even amidst financial constraints.

QUETTA — The Balochistan government has achieved a remarkable milestone by utilizing 115 percent of its development budget for the fiscal year 2025-26. This marks a significant achievement in the province’s financial history. Record Development Fund Utilization Provincial Finance Minister Mir Shoaib Nosherwani announced that Balochistan has recorded its highest ever fund utilization rate. The funds have been strategically directed towards projects aimed at improving infrastructure and enhancing public services. Promoting Economic Growth The government’s financial strategies have been instrumental in promoting economic growth within the province. By focusing on strategic allocation, there are expected improvements in economic infrastructure, which will contribute significantly to public welfare. Implementing Digital Reforms In conjunction with effective fund usage, the Balochistan government has introduced digital reforms to streamline governance. These initiatives aim to enhance service delivery, improve operational efficiency, and increase transparency within government operations.

ISLAMABAD — Pakistan Single Window (PSW) has been recognized as a winner at the Asia-Pacific Trade Facilitation Innovation Awards 2026. The announcement came via a press release on Wednesday. Award Ceremony at Paperless Trade Week The prestigious award was presented during the Paperless Trade Week 2026 held in Bangkok. This significant event was organized by the Asian Development Bank (ADB) along with international partners. The focus was on innovations that enhance trade facilitation processes. PSW’s Impact on Trade Facilitation Winning this award on a global stage highlights PSW’s essential role in improving trade facilitation processes. It is a testament to PSW’s commitment to pioneering innovation throughout the Asia-Pacific region.