Business

ISLAMABAD — Federal Minister for National Food Security and Research, Rana Tanveer Hussain, held a crucial meeting addressing the challenges in fertilizer availability, pricing, and supply. This session included provincial agriculture ministers, fertilizer manufacturers, importers, and senior officials. Fertilizer Supply for Key Seasons The meeting reviewed the supply of Urea and DAP fertilizers for the ongoing Kharif season and planning for the upcoming Rabi season. Officials reported that all ten national fertilizer plants are operational, collectively providing over one million tonnes of Urea. This production effectively meets farmers’ demands, avoiding shortages. Maintaining Stable Urea Prices Despite rising international fertilizer prices and market fluctuations, Pakistan has successfully maintained stable Urea prices. Minister Hussain emphasized this stability in contrast to global trends and stressed its importance for economic stability. Addressing Price Hikes Minister Hussain addressed the issue of rising fertilizer prices in some markets, instructing companies and authorities to stop unjustified price increases. He warned against profiteering and the creation of artificial shortages. Industry Cooperation Fertilizer company representatives reassured the government that Urea prices would not increase significantly. They committed to cooperating with the government to ensure stable supplies across Pakistan, supporting the agricultural economy.

ISLAMABAD — Dr. Muhammad Farooq Sattar, a senior leader of the Muttahida Qaumi Movement (MQM), praised the government for allocating funds to the Greater Karachi Bulk Water Supply Scheme, also known as the K-IV project. He stressed that this financial support is vital to easing Karachi’s persistent water scarcity issues. Increased Investment Needed for Karachi Dr. Sattar highlighted the necessity of boosting financial investments to effectively tackle infrastructure challenges in Karachi. The city’s rapid expansion demands a comprehensive strategy to enhance its water supply systems. Importance of the K-IV Project in Urban Development The K-IV project is integral to improving Karachi’s utility services amid a booming population. This initiative aims to satisfy the water needs of the expanding urban area and is crucial for the city’s long-term development strategy.

Praise for Pakistan Budget 2026-27 The Consumers Association of Pakistan has expressed commendation for the 2026-27 federal budget. The association emphasized that the consumer-focused initiatives are poised to deliver substantial benefits to the public. Efforts Toward Economic Growth Chairman Kaukab Iqbal voiced approval for the budget measures aimed at fostering economic growth. He particularly highlighted the budget’s emphasis on industrial development, deeming it crucial for advancing national progress. Key Budget Strategies Investment and Development Initiatives Boosting investment across various sectors Enhancing export activities Advancing digital transformation These strategies are intended to create job opportunities and support sustainable economic progress. Expected Economic Benefits The association highlighted the anticipated positive impact on both consumers and the broader economy, as outlined in the budget proposals.

ISLAMABAD — Malik Rasheed Ahmed Khan, the Minister of State for National Food Security and Research, commended the new federal budget on Friday. He highlighted its significant support for the salaried class, agriculture, and the business sectors. Khan described the budget as balanced and people-friendly. Economic Challenges Addressed The budget was crafted amid challenging economic conditions. Khan noted the strategic decision to refrain from imposing new taxes on the general public. This decision forms the foundation of the budget’s strategy. Relief Initiatives for Multiple Sectors The budget outlines various measures designed to provide relief across multiple sectors. These initiatives aim to ease the financial burdens on citizens, promoting economic growth proactively. Commitment to Stability and Growth The minister reiterated the government’s commitment to ensuring economic stability and growth. The budget tackles ongoing fiscal challenges, demonstrating a proactive effort to strengthen the economy.

RAWALPINDI — The business community in Rawalpindi has expressed strong support for the 2026-27 federal budget, endorsing key measures. However, business leaders call for clearer economic policies to help reduce business costs. Key Budget Highlights and Reactions Usman Shaukat, President of the Rawalpindi Chamber of Commerce and Industry (RCCI), praised a 7% increase in salaries and pensions. He welcomed the removal of the Federal Excise Duty on medicines for cancer and other serious illnesses. Despite these positives, Shaukat pointed out the lack of a clear export policy and initiatives to promote a more business-friendly environment. He emphasized the importance of ongoing consultations with the business community to develop a beneficial policy framework. Real Estate Tax Reductions Sohail Altaf, Group Leader and Former President of RCCI, appreciated the reduction in property purchase taxes. Rates for filers have decreased from 2.5% to 1.25%, and from 5.5% to 2.75% for sellers. He also praised the exemption from super tax for businesses earning up to Rs. 0.5 billion and a tax rate reduction from 10% to 8% for higher incomes. Call for Policy Clarity Altaf highlighted current ambiguities in GST policies and urged lawmakers to lower operational costs for businesses. He commended Prime Minister Shehbaz Sharif for incorporating business chamber input into budget discussions. With prevailing tax rates between 50% to 60% creating barriers to investment, adjustments are necessary. The business community advocates expanding the government’s tax net with a clear and practical strategy, especially to support small traders.

Government employees and pensioners in Khyber Pakhtunkhwa have expressed their appreciation for the salary and pension increases announced in the Federal Budget for 2026-27. These raises provide significant relief amidst rising living costs and economic challenges. Essential Financial Relief for Public Sector Workers The decision to increase pay is crucial for delivering financial relief to public sector employees and pensioners. With inflation rising, these budgetary measures are indispensable for reducing economic burdens on households. Addressing Inflation and Economic Challenges Officials highlight the importance of these financial adjustments as part of broader efforts to support citizens facing ongoing economic issues. The enhanced budget allocation highlights the government’s commitment to the welfare of its employees and retirees.

ISLAMABAD — The federal government has unveiled a comprehensive Rs3.675 trillion development plan for the fiscal year 2026-27. This ambitious initiative targets a 4 percent increase in the national GDP and aims to achieve a substantial current account surplus. Key Focus Areas The development plan highlights strategic growth in exports, remittances, and investments. These sectors are vital for strengthening the economic framework and achieving the plan’s ambitious goals. Optimistic Economic Outlook The strategy lays out a positive economic outlook, focusing on enhancing financial stability and driving growth. These measures are expected to boost economic activities and support long-term sustainable progress. Growth Drivers Exports Remittances Investments Commitment to Economic Milestones The Annual Plan emphasizes the government’s commitment to vital economic milestones. It is structured to steer the country towards recovery and expansion in the upcoming fiscal year.

ISLAMABAD — Prime Minister Shehbaz Sharif led a crucial Federal Cabinet meeting on Wednesday, focusing on key national and economic issues. Meeting Agenda in Islamabad The session, held at Parliament House, concentrated on examining recent economic trends and policy initiatives. The main objective was to synchronize the cabinet’s goals with the prevailing economic necessities of the country. Strategies for Economic Growth Cabinet members delved into discussions on important strategic areas such as: Promoting economic growth Addressing financial and infrastructural challenges Adapting financial policies to current economic scenarios Annual Budget Approval for 2026-27 Following extensive discussions, Prime Minister Shehbaz Sharif reviewed and signed the Annual Budget for 2026-27. This budget highlights the government’s dedication to sustainable development and maintaining fiscal stability.

ISLAMABAD — The federal government has secured Rs2,699.339 million in funding for the Islamabad Safe City project under its Public Sector Development Programme (PSDP) for the 2026-27 fiscal year. This significant funding aims to improve surveillance, enhance public safety, and advance smart policing in Islamabad. Funding to Enhance Public Safety The funds are essential for initiatives focused on strengthening the safety and security infrastructure in the federal capital. The project focuses on multiple objectives: Improving current surveillance systems Enhancing effectiveness in crime prevention Boosting overall security within the city Integrating Advanced Technology The Safe City project is integral to Islamabad’s urban development strategy, emphasizing the integration of advanced technologies in law enforcement. This financial boost shows the government’s dedication to modernizing public safety measures and effectively responding to urban growth challenges.