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Banks To Observe Extended Working Hours On September 30 For Collection Of Taxes

The State Bank of Pakistan has directed all commercial bank branches to stay open until 10pm on Wednesday to help taxpayers make over-the-counter payments of government duties and taxes, at the request of the Federal Board of Revenue. "Further, banks are advised to keep their concerned branches open on September 30, 2026, for as long as required to facilitate the Special Clearing for Government transactions conducted by NIFT [National Institutional Facilitation Technologies]," the State Bank of

Govt Okays 0 2m Tonne Sugar Export Plan

Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar on Tuesday finalised modalities for sugar exports already announced by the federal government. A meeting of the Cabinet Committee for the Export of Surplus Sugar finalised modalities for 0.2 million tons of sugar export and approved a monitoring committee for keeping regular check on sugar prices. Dar directed all concerned ministries to expedite the process and complete pending formalities immediately in order to support the suga

Four Refineries Sign Upgrade Deals But Projects Still Await Isgs Submission

Four Pakistani refineries that signed agreements with the government on September 24 to undertake major brownfield upgrades have yet to formally submit their detailed projects to Inter State Gas Systems (ISGS), the state-owned company designated to monitor implementation of refinery-upgrade projects and regulate the associated upgrade incentive accounts. The refineries - Attock Refinery Limited (ARL), National Refinery Limited (NRL), Pakistan Refinery Limited (PRL) and Cnergyico Pakistan Limit

Pakistan Outlines Fy27 Borrowing Plan As Imf Raises Debt Concerns

With a rising debt burden, the visiting IMF mission has asked Pakistan for fiscal consolidation, curtailing the circular debt in the energy sector and finding alternative ways if it proposes a reduction in the petroleum levy. Meanwhile, the Ministry of Finance released its annual borrowing plan for FY27, indicating that the federal fiscal deficit is projected to hover around Rs7 trillion during the ongoing fiscal year.Federal Minister for Finance Muhammad Aurangzeb held a virtual meeting with th

Fbr Says No Extension In Tax Filing Deadline Warns Taxpayers Of Hefty Penalties

An Federal Board of Revenue (FBR) spokesperson said that September 30 is the final date for filing returns, urging taxpayers to submit all relevant supporting documents along with their returns According to sources, the government will abolish the late.

Shehbaz becomes first Pakistani PM to open trading at London Stock Exchange

Prime Minister Shehbaz Sharif on Tuesday became the first Pakistani chief executive to open a trading session at the London Stock Exchange (LSE). During his visit to the stock exchange, the prime minister formally inaugurated Pakistan's landmark $3 billion dual-tranche sovereign Eurobond. In his address at the LSE headquarters in Paternoster Square, the prime minister highlighted Pakistan's immense potential to attract high-yield, safe and mutually beneficial foreign investments. He said in rece

Gold Prices Drop Rs12,800 Per Tola

Gold prices fell by Rs12,800 per tola on Monday, following a decline in the international bullion rates. The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said 24-karat gold dropped to Rs438,136 per tola, while the price of 10-gram gold fell Rs10,973 to Rs375,631. The prices dropped by $128 in the international market, where gold settled at $4,156 per ounce. Local prices in Pakistan are typically benchmarked to global rates with a premium of $20 per ounce. Silver rates decreased by

Finmin Aurangzeb Kicks Off Talks With Imf Mission For Eff Rsf Reviews

Finance Minister Senator Muhammad Aurangzeb on Tuesday held an opening meeting with the International Monetary Fund (IMF) mission as part of the negotiations for the fourth review of Pakistan's $7 billion Extended Fund Facility (EFF) and climate programme. The IMF mission, led by Iva Petrova, is in Islamabad for the fourth review of Pakistan's EFF arrangement and the third review of the Resilience and Sustainability Facility (RSF), the Ministry of Finance said in a statement.During the meeting,

Business Community Seeks One Month Extension Of Tax Return Deadline

The business community on Monday sought a one-month extension to the income tax return filing deadline, proposing that the cutoff date be moved to October 31, 2026, to facilitate traders, industries and other taxpayers. Atif Ikram Sheikh, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), formally urged the federal government and the Federal Board of Revenue (FBR) to extend the deadline by one month.The apex trade body said the extension is not a concession but a

Is Trump Banning US Diesel Exports Heres Everything To Know

U.S. President Donald Trump has said the White House is "very seriously" considering a diesel export ban as U.S. fuel prices soar ahead of November's midterm elections.Talking to a Fox reporter on Sunday, September 27, he said: "We're thinking about it very seriously. That can oftentimes lead to a little bit of an increase in gasoline prices for cars, so we're looking at it very seriously. We may do it." Diesel prices have soared to record highs amid conflicts between the U.S.and Iran, and Russi

Diesel Price Cut By Rs3 56 Petrol Rs2 27

The government cut the price of high-speed diesel by Rs3.56 per litre and petrol by Rs2.27 effective for Sept 29, as the government adjusted fuel prices in response to changes in global petroleum markets. The price of high-speed diesel will fall to Rs404.97 per litre from Rs408.53, while the price of petrol will decline to Rs389.03 from Rs391.30, according to a notification issued by the Petroleum Division on Monday.The Oil and Gas Regulatory Authority revised the ex-depot prices under the feder

Imf Nod To Be Sought For Single Gas Tariff Regime

The Petroleum Division will seek the International Monetary Fund's approval to introduce a single gas tariff from July 1, 2027, requiring the government to allocate around Rs162 billion to replace the existing cross-subsidy mechanism with targeted financial assistance for low-income households. The proposed reform would abolish the existing 12-slab tariff structure. All consumers would move towards a uniform average tariff of around Rs1,708 per MMBtu, while vulnerable households would receive di

Amid Security Crisis Kp Received Rs2 347bn Under Nfc Award Intwo Years

The federal government transferred Rs2,347 billion to Khyber-Pakhtunkhwa (KP) under the National Finance Commission (NFC) Award over the past two fiscal years, even as the province continues to face serious security challenges. The province also receives an additional one per cent of resources under the NFC Award to support its efforts in the war against terrorism. According to documents of the Ministry of Finance, the federal government transferred Rs1,103 billion to KP under the NFC Award duri

New Rules Notified To Overhaul Public Procurement

After scrapping the procurement rules of 2004, the government has notified the new Public Procurement Regulatory Authority (PPRA) Rules 2026 in a bid to satisfy the International Monetary Fund (IMF). However, the government has allowed direct contracting with State-Owned Entities (SOEs) through newly notified rules. These new PPRA Rules are going to deal with 20 to 25 per cent of Gross Domestic Product (GDP) of the public sector procurement, ranging into trillions of rupees on an annual basis.Th

10 000 Govt Officials To Declare Assets By Oct 30 Imf Told

The government on Monday briefed the visiting IMF review mission on digitisation of the Asset Declaration Scheme, in which 10,000 federal government employees are bound to declare their assets till October 30. The review mission reached the federal capital after spending the last week in Karachi where they discussed monetary policy, inflation and exchange rate with the State Bank of Pakistan (SBP) high-ups. In Islamabad, the review mission was briefed that the ongoing Gulf war had slowed down ec

Mesabi Metallics Full Details About Company Behind 15b Iowa Steel Plant

Mesabi Metallics is a Minnesota-based steel and mining company which is set to build a $15 billion steel plant in Iowa. This makes it the largest of its kind in U.S. President Donald Trump is set to unveil the project at a White House event on Monday, September 28.The company is owned by the Indian conglomerate Essar Group, chaired by Rewant Ruia. The current president and CEO is Joe Broking. The planned Iowa steel plant will be fully vertically integrated, using iron ore from Mesabi's Minnesota

NVDA stock rises 3% after Nvidia boost buyback by record $150 billion

Nvidia has announced a massive $150 billion increase to its share repurchase program. This marks the largest authorization increase in corporate history. The move raises the company's total remaining buyback authorization to $235 billion, which it expects to complete through fiscal year 2028.The AI chip giant's board approved the increase as CEO Jensen Huang expressed his confidence in the company's continued growth. Huang said: "NVIDIA's growth is being driven by a once-in-a-generation platform

Viral Tea Seller Turned Entrepreneur Arshad Khans Caf Chaiwala Expands In Uk

Pakistan's viral tea seller-turned-entrepreneur Arshad Khan's Café Chaiwala brand has opened a new branch in Sutton, South London, with several more outlets planned as the brand increases its footprint across the UK, putting behind it recent legal issues both in the UK and Pakistan. The expansion is being led by British-Pakistani businessman Asif Khalique, the UK master franchise holder, who previously launched the brand's Tooting branch with his brother Yousuf Khalique around 16 months ago.The

Pakistan China Firms Eye Rs20bn Investment In Gas Upstream Energy

Pakistan's Shaheen Energy (Pvt) Limited and China's Anton Oilfield Services Group have signed a memorandum of understanding (MoU) to explore investment opportunities of around Rs20 billion over the next three to five years in Pakistan's gas and upstream energy sector. The proposed cooperation follows amendments to the Petroleum (Exploration and Production) Policy 2012, which allow exploration and production companies to sell up to 35 per cent of their pipeline-quality gas to licensed Under the M

What to really learn from China

After decades of cooperation, and more than a decade of China-Pakistan Economic Corridor (CPEC), Pakistan should ask a question that is uncomfortable precisely because it is so obvious: why have we absorbed so much Chinese capital, infrastructure and technical assistance, but so little of the institutional discipline that made China's own development possible? This is not an argument that Pakistan should 'copy China'. It is an argument that we have concentrated on importing Chinese outputs roads

Why Economy Trapped In A Recurring Hard To Escape Inflation

The underlying structural deficiencies and fundamental causes of the inflation crisis must be addressed promptly to prevent further deterioration, if the nation aims to strengthen its economic foundations, according to prominent economists and data gathered by While mainstream discourse characterises inflation through the lens of macroeconomic stability indicators, rigorous data examination and specialist analysis reveal a more profound, internally generated crisis. The significant supply chain

Pakistan Selling Discos Investors Also Pricing The Risk

For anyone looking to buy a Pakistani power distribution company, the question is not simply how much the Disco is worth. It is the certainty of returns that comes with it. The commercial opportunity is obvious.Unlike the Pakistan Steel Mills case, the journey for Disco privatisation has moved at considerable pace, currently testing investor appetite with expressions of interest (EOIs) for Faisalabad Electric Supply Company (Fesco), Gujranwala Electric Power Company (Gepco) and Islamabad Electri

Aurangzeb S US Exim Talks Cover Financing For Boeing Aircraft Adviser

Pakistan's finance minister discussed potential US Export-Import Bank financing for Boeing aircraft for privatised PIA, refinery upgrades and Reko Diq, a copper and gold mining project in southwestern Balochistan, his adviser Khurram Schehzad said in a post on X on Sunday. Schehzad said the government was helping PIA access financing and suppliers, but was not buying aircraft and had announced no sovereign guarantee or taxpayer-funded loan.US EXIM could secure financing against the aircraft and

Sasta Petrol Scheme May Continue For 10 Months Petroleum Minister

Federal Minister for Petroleum Ali Pervez Malik said on Sunday that the government would continue Prime Minister Shehbaz Sharif's Sasta petrol scheme for another 10 months, if required, even by allocating Rs400-500 billion from its own resources. Speaking at a ceremony here, the minister said the government would not retreat from providing relief to the people despite difficult economic circumstances and would curtail its own expenditures, if necessary, to finance the scheme.He said the prime mi

Pakistan Corruption Score Rises Data Raises Questions

Pakistan's score on Transparency International's Corruption Perceptions Index (CPI) has improved by one point, but an examination of the data and methodology behind the ranking raises questions about how the score is produced, how much of it can be independently verified and how closely international perceptions correspond with the live experience of ordinary Pakistanis. The questions matter beyond the ranking itself. Corruption and governance indicators form part of the wider information availa

Gas Load Management Begins As Pakistan Faces Winter Lng Supply Risks

Gas load management has begun for domestic consumers as Pakistan faces growing uncertainty over LNG supplies from Qatar amid the ongoing Strait of Hormuz crisis, with authorities restricting household gas supply to key cooking hours. The force majeure declared by Qatargas on March 4, 2026, following the attack on its LNG production plant at Ras Laffan has not yet formally been lifted due to a lack of tangible progress between Iran and the United States on reopening the Strait of Hormuz and endin

Pakistan's solar revolt

Pakistan is witnessing one of the fastest and most unusual energy transitions in the developing world. It is not being led primarily by government policy, public investment or climate targets. Households, farmers and businesses are driving it in response to electricity prices and reliability.The numbers are extraordinary. According to the International Energy Agency's September 2026 Electrification Special Report, Pakistan imported about 51GW of solar panels between 2021 and 2025. Installed dist

Byd Reaches 10 000 Vehicle Milestone In Pakistan

BYD has reached 10,000 vehicles on Pakistani roads, Mega Motor Company (MMC), its local partner, said in a statement on Friday, as the Chinese electric-vehicle maker expands its presence in the country's growing new-energy vehicle market. BYD entered Pakistan with the Atto 3 and Seal and has since expanded its range to five models, including the Atto 2, the Sealion 7 and the Shark 6 plug-in hybrid pickup. MMC Chief Executive Officer Aly Khan said the company is preparing to establish a NEV assem

Nepra Proposes Grid Sharing Charges For Industrial Consumers

Pakistan's power regulator has proposed making high-rise buildings requiring transformers above 500 kVA liable for grid-sharing charges and allowing industrial consumers to obtain multiple connections up to a combined 15 megawatts. The National Electric Power Regulatory Authority (Nepra) has sought public comments on proposed amendments to its Consumer Service Manual (CSM) that will also revise charges for industrial and steel-furnace consumers, tighten rules for temporary disconnections and pot

Japan Says Trump Voiced Concern Over Weak Yen In Summit With Takaichi

TOKYO: US President Donald Trump raised concerns about yen weakness at a summit with Japanese Prime Minister Sanae Takaichi, Japan's Finance Minister Satsuki Katayama said on Friday, offering an unusually detailed account of the leaders' talks on currencies. 'At the recent Japan-US summit, US President Trump expressed concern about the yen's weakness," Katayama said at a regular news conference, adding that she was disclosing the exchange for the first time after consulting with the Prime Minist

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