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Syeda Mubeena Hashmi Posted in Business

Govt Plans Technical Audit of Power Distribution Firms

The government has decided to conduct a comprehensive technical audit of former Wapda distribution companies to assess power theft and distribution losses. The audit will examine their scale, causes and geographical concentration. Authorities will soon invite qualified experts, while work on advanced metering infrastructure will be accelerated to improve monitoring and protect consumers from potential overbilling. Read More…

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Syeda Mubeena Hashmi Posted in Business

Basra Faces Economic Strain as Oil Exports Falter

Iraq’s oil hub Basra is facing mounting economic pressure as disruptions to Gulf oil exports reduce activity across the city. Workers and contractors report layoffs, pay cuts and fewer jobs, while oil trucks remain idle as storage fills. With crude accounting for most of Iraq’s foreign revenue, the disruption has highlighted the country’s heavy dependence on oil exports through the Gulf. Read More…

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Syeda Mubeena Hashmi Posted in Business

SBP Faces Tough Call on Interest Rate

ISLAMABAD: Pakistan’s central bank faces a difficult decision on its policy rate amid rising inflation and higher global fuel prices linked to the prolonged Gulf conflict. The current rate stands at 11.5 per cent, with bankers expecting no change while some analysts foresee a 50-basis-point increase. Inflation rose to 11.1pc in August, adding pressure on the State Bank. Read More…

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Syeda Mubeena Hashmi Posted in Business

Business Community Seeks Review of Fuel Pricing Policy

KARACHI: The business community has urged the government to review taxes, levies and the daily fuel pricing mechanism. KATI President Muhammad Ikram Rajput said frequent price changes were increasing uncertainty and making production costs difficult to calculate. He called for immediate relief when global oil prices decline, saying consumers and industry should not bear higher costs while reductions are delayed. Read More…

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Syeda Mubeena Hashmi Posted in Business

Pakistan Moves to Ease Pension Verification Process

ISLAMABAD: The finance ministry has removed commercial banks from the administrative process of verifying pensioners’ proof-of-life certificates, aiming to simplify pension payments. Under revised SOPs, Nadra will electronically transmit digital life signals to the Controller General of Accounts and Military Accountant General through a secure API. Banks will only disburse pensions and will not handle verification or biometric data. Pension accounts will also be exempt from dormancy requirements. Read More…

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Syeda Mubeena Hashmi Posted in Business

Pakistan approves sugar export plan amid rising imports

Pakistan has decided to export imported sugar, with the Trading Corporation of Pakistan inviting bids for 107,739 tonnes. Bids will remain open until September 28 and be opened the same day. The move follows a sharp rise in sugar imports during the current fiscal year. Official data showed imports surged significantly, while overall food imports also increased, including major purchases of palm oil, tea and dried fruits. Read More…

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Syeda Mubeena Hashmi Posted in Business

Gul Plaza Fire Case Takes a New Turn

KARACHI: Police have submitted a fresh charge sheet in the Gul Plaza fire case, blaming building management for negligence. The blaze, which erupted on January 17, killed at least 73 people and destroyed more than 1,100 shops. The new document names four accused, including the traders association president and two members. It says emergency services worked hard to contain the fire but the building lacked adequate firefighting equipment. Read More…

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Syeda Mubeena Hashmi Posted in Business

Adidas campaign sparks backlash over Israeli soldier

Adidas has faced online criticism after featuring an Israeli soldier in a campaign promoting its Single Shoe service in Israel. The service allows amputees and people with limb differences to buy only the footwear they need at half price. The campaign featured Shalev Biton, an Israeli soldier who lost a leg during the 2021 Gaza offensive. Critics, including Palestinian-American writer Susan Abulhawa and Pakistani columnist Fatima Bhutto, condemned the campaign and called for a boycott. Read More…

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Syeda Mubeena Hashmi Posted in Business

Govt Moves to Streamline Cross-Border Trade

Prime Minister Shehbaz Sharif has approved the establishment of a Trade Facilitation Board to streamline cross-border trade and support trade promotion, the PM Office said Thursday. The board will handle non-tariff issues, improve supply-chain efficiency and develop strategies linked to the Trade Facilitation Index. It will also prepare a roadmap for boosting trade and monitor progress. The prime minister will personally chair the board, which was approved during a meeting in Islamabad. Read More…

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Syeda Mubeena Hashmi Posted in Business

Pakistan, Kyrgyzstan Seek Stronger Economic Ties

Pakistan and Kyrgyzstan agreed Wednesday to take practical measures to significantly expand bilateral trade, with leaders aiming for a major increase over the next two years. Kyrgyz President Sadyr Japarov said talks with Prime Minister Shehbaz Sharif reflected strong mutual trust and a shared commitment to deepen relations. Sharif said both countries would work to raise trade from around $16 million to $200 million. The leaders also stressed the importance of the CASA-1000 energy project. Read More…

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