Author: S.M. Inam

The nation’s electricity distributors recorded combined losses of Rs397 billion, well under the Rs649 billion ceiling stipulated by the International Monetary Fund By S.M. Inam/Mehrab Shah Afridi ISLAMABAD: Pakistan’s recent energy sector reforms have begun yielding measurable improvements, with official records indicating substantial reductions in both electricity distribution losses and the longstanding circular debt burden over the last fiscal year. According to government documents, the combined losses of the country’s electricity distribution companies, or DISCOs, amounted to Rs397 billion, significantly below the ceiling of Rs649 billion set by the International Monetary Fund. Officials credited this performance to stricter governance measures,…

By S.M. Inam KARACHI: The federal government has decided to introduce new currency notes with enhanced security features and improved security threads. The decision was made during a cabinet meeting chaired by Prime Minister Shehbaz Sharif. Cabinet members were informed that the redesigned notes will be issued in denominations of Rs100, Rs500, Rs1,000, and Rs5,000. Officials said the new banknotes will include advanced security threads and modern features. The designs will reflect Pakistan’s regional and geographical diversity, its historical landmarks, and the contributions of women to national development. Key social themes, including climate change, will also be highlighted. A cabinet…

By S.M. Inam KARACHI: The Pakistan Stock Exchange marked a symbolic moment in Pakistan–Canada economic relations on Tuesday as Samir Dossal, president of the Canada Pakistan Business Council, rang the ceremonial opening bell, celebrating a bilateral trade relationship that had crossed the $1bn mark and was showing signs of renewed momentum. The gong ceremony, held at the PSX building in Karachi, was presented as more than a formal market ritual. It was framed by speakers as a signal of growing confidence in Pakistan’s capital markets and of deepening institutional links between the exchange and the Canadian business community. Dossal used…

The projects are designed to bolster coastal protection, promote climate-smart agriculture, and drive inclusive growth across the country By S.M. Inam ISLAMABAD: Pakistan took a significant step toward strengthening its climate resilience on Tuesday, formalizing two major development initiatives with the Asian Development Bank (ADB) that aim to protect vulnerable coastal areas and modernize agriculture with low-carbon practices. The agreements, announced by the Ministry of Finance and Revenue, encompass the $180.5 million Sindh Coastal Resilience Sector Project (SCRP) and the $124 million Punjab Climate Resilient and Low Carbon Agriculture Mechanization Project, reflecting a growing focus on sustainable development amid rising…

The IMF has urged Pakistan to end sales tax exemptions on locally made electric vehicles and bikes, recommending the standard 18 percent GST from fiscal year 2026–27 By S.M. Inam ISLAMABAD: Pakistan is facing renewed pressure from the International Monetary Fund (IMF) as new conditions tied to the country’s $7 billion loan program emerged, raising concerns about the future of its nascent electric and hybrid vehicle industry. According to sources familiar with the matter, the IMF has called for the removal of sales tax exemptions on locally manufactured electric vehicles and electric bikes, proposing the imposition of the standard 18…

The initial phase witnessed a competitive bidding round, with Lucky Cement offering 101.5 billion rupees and Airblue 26.5 billion, leaving the Arif Habib consortium firmly in the lead By S.M. Inam ISLAMABAD: The Arif Habib consortium submitted the highest bid of Rs135 billion to acquire a 75 percent stake in Pakistan International Airlines (PIA), marking a significant step in the government’s ongoing efforts to reform the national carrier. The development was confirmed by Muhammad Ali, adviser to the Privatization Commission, said the sale was part of a broader agenda aimed at reviving PIA’s operational and financial capacities. He further explained…

By S.M. Inam ISLAMABAD: A meeting on Pakistan’s lithium-ion battery policy was convened under the chairmanship of Prime Minister’s Special Assistant Haroon Akhtar Khan, with a focus on promoting local manufacturing and reducing reliance on imports. The session, attended by Minister of State for Finance and Railways Bilal Azhar Kayani, brought together senior officials including Secretary of Industries Saif Anjum and CEO of the Engineering Development Board Hammad Mansoor to review the country’s prospects in domestic battery production and assembly. Participants discussed the current state of the industry, noting that while lithium-ion batteries are widely used, Pakistan largely relies on…

By S.M. Inam ISLAMABAD: Federal Minister for Petroleum Ali Pervaiz Malik held a meeting in Kuwait with Tariq Sulaiman Al-Roumi, Kuwait’s Minister of Oil, to discuss issues of mutual interest and ways to strengthen bilateral cooperation in the petroleum sector. According to an official statement issued on Monday, the meeting was also attended by Sheikh Nawaf Al-Sabah, chief executive of Kuwait Petroleum Corporation (KPC), the chief executive of Kuwait Foreign Petroleum Exploration Company (KUFPEC), and members of their senior management teams. The Pakistani delegation included the managing director of Oil and Gas Development Company Limited (OGDCL), Ahmed Hayat Lak, and…

The finance minister said the prime minister’s clearly articulated strategic direction signaled renewed economic confidence and a forward momentum for reform By S.M. Inam ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said Pakistan was no longer seeking aid-based support and was shifting decisively towards trade- and investment-led engagement to secure long-term economic sustainability and mutually beneficial partnerships, particularly with Gulf Cooperation Council (GCC) countries. In an interview with Arab media outlet, Finance Minister said this strategic direction, clearly articulated by the prime minister, reflected renewed economic confidence and reform momentum. He noted that Pakistan had remained on…

By S.M. Inam The United States’ recent approval of a $686 million package to upgrade Pakistan’s fleet of F‑16 fighter jets represents a notable moment in the long-standing, and at times complex, military relationship between the two countries. Announced by the US Defense Security Cooperation Agency (DSCA) on 8 December, the deal is officially framed as an effort to ensure Pakistan’s ability to respond to both current and emerging security threats. Yet the significance of this development extends beyond mere equipment transfers, touching on broader strategic, regional, and political considerations that have shaped Islamabad’s defence posture for decades. At the…