The federal cabinet, chaired by Prime Minister Muhammad Shehbaz Sharif, approved a 15% increase in pensions under the Employees’ Old-Age Benefits Institution (EOBI), effective from January 1, 2025, and extended a five-year duty exemption for importing life-saving drugs for cancer, heart diseases, and critical care. According to a statement from the Prime Minister’s Office Media...
Prime Minister Muhammad Shehbaz Sharif hailed the Pakistan Stock Exchange (PSX) reaching its historic peak as a testament to growing investor confidence, highlighting the government’s collective efforts toward economic progress. Addressing a federal cabinet meeting on Wednesday, Sharif announced that every ministry’s performance will be evaluated every two months, with commendations for excellence and disciplinary...
The Public Accounts Committee (PAC) of the Sindh Assembly, chaired by Nisar Khuhro, on Tuesday ordered the blacklisting of eight non-governmental organizations (NGOs), including HANDS and SRSO, and the cancellation of their registrations and licenses for failing to provide audit records for over Rs. 800 million in funding under the Community Development Program. The Social...
Sugar prices in Sindh, particularly in Karachi, have spiked again, with wholesale rates rising from Rs. 180 to Rs. 183 per kg and retail prices reaching Rs. 190–195 per kg, according to Abdul Rauf Ibrahim, Chairman of the Grocers and Wholesalers Association. The sudden halt in sugar supply from interior Sindh has disrupted market balance,...
Federal Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal, chaired a high-level meeting in Islamabad on Sunday to finalize sector-specific action plans based on a comprehensive report by Chinese experts, aimed at boosting economic cooperation between Pakistan and China. The report, compiled after a visit by Chinese delegations, outlines recommendations to enhance collaboration...
Federal Minister for Commerce Jam Kamal Khan announced measures to strengthen trade relations between Pakistan and Vietnam, emphasizing increased bilateral trade and Pakistan’s exports. Speaking with the media on Saturday, Khan highlighted Vietnam’s dynamic economy, with a 7.5% GDP growth rate and a trade volume nearing $800 billion, projected to reach $1 trillion soon. He...
Prime Minister Muhammad Shehbaz Sharif reaffirmed the government’s commitment to economic recovery through comprehensive reforms and a merit-based system during his address at the “Uraan Pakistan Summer Scholars Program” on Saturday. Congratulating the students, whom he called a “galaxy of stars,” he praised Ahsan Iqbal for launching the initiative, expressing confidence that participants would gain...
In a significant stride toward meeting Pakistan’s energy demands and exploring domestic oil and gas reserves, Mari Energies Limited has entered into a pivotal partnership with Orient Petroleum Inc., securing stakes in three strategic hydrocarbon exploration blocks. The company formally notified the Pakistan Stock Exchange (PSX) of this development, highlighting its commitment to enhancing Pakistan’s...
Marking a significant step towards reviving Pakistan’s industrial sector, Pakistan and Russia have formalized an agreement to restore and modernize the long-dormant Pakistan Steel Mills (PSM) in Karachi. The protocol, signed on July 11, 2025, at the Pakistan Embassy in Moscow, signifies a renewed chapter in the historic industrial partnership between the two nations. The...
Pakistan’s automotive sector, which faced economic pressures and import restrictions in recent years, witnessed a remarkable recovery in June 2025, according to data released by the Pakistan Automotive Manufacturers Association (PAMA). Car sales soared to 21,773 units, marking a 64% year-on-year (YoY) increase and a 47% month-on-month (MoM) rise, reaching the highest level since March...