Business

A World Bank delegation, led by Pakistan Country Director Bolorma Amgaabazar, visited the under-construction Tarbela Fifth Extension Hydropower Project. The team expressed satisfaction with the project’s pace and quality, underscoring its importance as a key energy initiative for Pakistan. Importance of the Tarbela Project The Tarbela Fifth Extension project plays a critical role in Pakistan’s strategy to expand renewable energy capacity. The support from the World Bank highlights the project’s significant impact on enhancing the national power supply. World Bank’s Active Involvement Throughout their visit, World Bank officials inspected various stages of the construction process. They attended comprehensive briefings on the project’s progress. Their positive evaluation signals continued commitment to bolstering Pakistan’s energy infrastructure.

ISLAMABAD — Federal Minister for Finance and Revenue, Muhammad Aurangzeb, announced on Saturday the Federal Budget 2026-27’s focus on export-led growth. This strategy aims to boost the country’s exports and secure sustainable economic development. Focus on Industrial Expansion The finance minister emphasized the budget’s plan to create a competitive environment that promotes industrial expansion. By focusing on these areas, the government intends to enhance economic competitiveness and drive substantial industrial growth. Strategic Economic Objectives The announcement reflects a continued commitment to policies supporting economic vitality through increased export activities. These efforts align with Pakistan’s broader goals of achieving long-term growth and prosperity.

SARGODHA — The Faisalabad Electric Supply Company (FESCO) has intensified its crackdown on electricity theft, leading to the arrest of 14 individuals in Sargodha on Saturday. Coordinated Task Force Operation Task force teams carried out coordinated raids across various districts to address unauthorized power usage. These strategic initiatives resulted in multiple arrests, highlighting FESCO’s commitment to reducing electricity theft. Apprehended Suspects Among those arrested were: Tanveer Khan Hakeem Khan Saqlain Bakht Khan Abdul Saboor Waleed Khan Hafizullah Farzand Arain Tariq Jameel Additional suspects were detained as the operation continued. Legal Measures Local police have filed cases against those detained, strengthening the ongoing efforts to prevent power pilferage in the region. These legal actions are part of a broader initiative to enhance compliance and maintain the integrity of the electricity supply.

BAHAWALPUR — Sardar Ramesh Sing Arora, Punjab Minister for Human Rights and Minorities Affairs, commended the Pakistan armed forces. He noted the significant support from minority communities in safeguarding national security. The statements were made during a ceremony at Islamia University Bahawalpur. National Unity and Youth Empowerment Minister Arora praised the armed forces for their dedication to the nation, stressing unity in supporting them. He encouraged youth to enhance Pakistan’s global image through education and commitment. Reinforcing the Punjab government’s stance, he underscored the importance of supporting citizens from various religious backgrounds. Support for Minority Communities Minister Arora detailed initiatives to aid minority communities. These include providing financial aid during religious festivals to families in need. He highlighted the crucial role minorities play in Pakistan’s society and reaffirmed the government’s dedication to their social and economic growth. Promoting Tolerance and Cooperation Arora addressed the need for tolerance and interfaith harmony. He stated that Pakistan’s sustainable progress depends on cooperation among all citizens. He urged the youth to engage with modern education and technology. Additionally, he outlined government programs aimed at empowering them to face future challenges.

ISLAMABAD — Atif Ikram Sheikh underscored the significance of media-business collaboration in fostering economic growth. This topic was emphasized during the inaugural meeting of the FPCCI Central Standing Committee on Media & Broadcasting. Meeting Overview and Participants This meeting was held at the FPCCI Capital Office, directed by Faisal Zahid Malik, Chairman and CEO of Pakistan Observer. The main objective was to enhance media-business partnerships as a means to advance economic development. Challenges in the Media Sector Crisis management in the media industry was a primary concern addressed. Participants confronted various challenges, such as: Advertisement difficulties Delayed financial recoveries Strategies for sustainable sector growth Advantages of Strong Partnerships Sheikh highlighted the mutual benefits of a robust media-business alliance. He emphasized its crucial role in substantially boosting economic development. Moving forward, the committee plans to strengthen these partnerships for the benefit of both sectors.

ISLAMABAD — The price of 24 karat gold in the local market has surged by Rs 4,370 per tola. It now stands at Rs 444,336, an increase from Rs 439,966 on the previous trading day. This update is reported by the All Pakistan Sarafa Gems and Jewellers Association. Impact of Market Conditions The rise in gold prices is largely attributed to fluctuating market conditions and global trends in the trade of precious metals. These factors play a significant role in shaping purchasing decisions for local jewelers and investors. Frequent Rate Updates The All Pakistan Sarafa Gems and Jewellers Association provides regular updates on gold rates. These updates consider variations in international gold prices and shifts in currency exchange rates, ensuring they reflect current market conditions accurately.

Positive Reception of Federal Budget FAISALABAD — The Pakistan Textile Exporters Association (PTEA) has praised the federal budget, describing it as balanced and growth-oriented. They affirm that it aligns well with the nation’s economic realities. The association is optimistic about the budget’s pro-industry initiatives and supportive policy measures. These features are crucial for stimulating economic activity and fostering growth in the textile sector. Impact on Industrial Growth PTEA officials express confidence that the budget can significantly boost industrial growth. It focuses on supporting sustainable economic development nationwide. By enhancing economic prospects, the budget is considered a crucial step toward strengthening the Pakistani economy. Textile Sector’s Outlook The association highlights a positive outlook within the textile sector regarding the government’s fiscal approach. This optimism exists despite ongoing economic challenges in the country.

ISLAMABAD — Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, and Minister of State for Finance Bilal Azhar Kayani discussed the Federal Budget 2026–27 during a press briefing at P-Block, Pakistan Secretariat. Key Budget Priorities Finance Minister Aurangzeb highlighted the government’s primary fiscal strategies for the coming year. Facilitating comprehensive economic growth Increasing public investment levels Ensuring long-term fiscal sustainability Government Commitment Information Minister Attaullah Tarar emphasized the government’s commitment to transparency and accountability. These principles will guide the budget’s implementation. Initiatives for Investment and Welfare Minister Kayani described initiatives aimed at boosting investment in critical sectors. He also outlined efforts to strengthen essential social welfare programs.

ISLAMABAD — During a press briefing at the Pakistan Secretariat in Islamabad, Information Minister Attaullah Tarar, Finance Minister Muhammad Aurangzeb, and Minister of State for Finance Bilal Azhar Kayani discussed the Federal Budget 2026–27. They emphasized the government’s focus on sustainable economic growth and fiscal stability. Strategic Budget Allocation Finance Minister Aurangzeb detailed essential aspects of the financial plan, concentrating on the strategic allocation of resources to vital sectors. The key sectors addressed include: Health Education Infrastructure development These initiatives are designed to bolster economic resilience and enhance the living standards of citizens. Commitment to Transparency Minister Tarar underscored the government’s commitment to transparency and accountability, ensuring effective fund utilization to achieve economic objectives. During the session, ministers fielded media questions, offering insights into allocation strategies and future economic prospects. Fiscal Policies and Economic Objectives The briefing highlighted the government’s fiscal policies and economic goals for the next year. The ministers presented detailed strategies outlining the economic framework set to guide Pakistan’s growth.

ISLAMABAD — The trader community has warmly embraced the 2026-27 budget, applauding its business-friendly initiatives. The government’s decision to exempt small traders from the ‘super tax’ is seen as a crucial move to enhance economic stability and stimulate nationwide commercial activity. Trader Optimism and Economic Growth During an interview on PTV News, representatives of small traders expressed their optimism about the budget’s potential to spark economic growth. They emphasized that the tax exemption is expected to keep the economic wheels turning, providing essential support to small businesses across Pakistan. Support for Small and Medium-Sized Enterprises This decision marks a significant step toward creating a supportive environment for small and medium-sized enterprises (SMEs). These businesses play a pivotal role in driving the nation’s economic development, and the government’s initiatives aim to bolster their contribution further.