Day: August 28, 2025

Mian Zahid welcomes new US reciprocal tariff framework

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KARACHI: Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum, Chairman National Business Group Pakistan (NBG), has welcomed the new U.S. reciprocal tariff framework introduced under the “America First Trade Policy”. The new framework moves away from system of uniform trade rules toward country-specific tariffs. Pakistan secured a 19% reciprocal tariff on its U.S. exports, a diplomatic win compared to India’s 25%, plus another 25 percent as penalty for the purchases of Russian oil. In exchange, Pakistan will withdraw its 5% digital services tax and pursue a joint oil reserve…

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PM vows to provide facilities to Japanese investors

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ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday reaffirmed his government’s commitment to facilitating Japanese investment, highlighting promising opportunities in sectors such as agriculture, information technology, and textiles. During a meeting with Taro Kato, Director General of Mining and Metal Finance at Japan’s International Cooperation Bank, Sharif underscored Pakistan’s competitive labour market and the sustained support it receives from international investors for major development projects. The prime minister stressed the importance of deepening bilateral diplomatic and economic ties between Pakistan and Japan, describing the longstanding cooperation between the two countries in…

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ADB president hails Pakistan’s economic reforms

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ISLAMABAD: As the government plans to launch the inaugural Panda Bond by the end of current calendar year, the Asian Development Bank (ADB) on Wednesday pledged its readiness to assist in the launch as well as other innovative financing instruments. The ADB president expressed appreciation for Pakistan’s economic reforms and resilience, commending the progress achieved in stabilizing the economy and advancing structural reforms. A meeting was held on Wednesday between Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, and Masato Kanda, President of the Asian Development Bank (ADB), at…

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Exporters’ travails

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Pakistan Bureau of Statistics (PBS) has revealed a significant rise in exports of 8.44 percent in July 2025 over June 2025 and 16.43 percent over July 2024 in dollar terms. However, trade deficit increased by 29.43 percent in July 2025 against July 2024 and by 10.57 percent over June 2025 — a rise that is attributable to an increase in imports by 23.13 percent in July 2025 as opposed to July 2024 and 9.58 percent against June this year. This indicates that the boom-bust cycle remains in force — a…

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Floods could strain Pakistan’s economy and disrupt food supplies, warns finance ministry

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The finance ministry on Thursday warned that Pakistan’s economy faces risks from flood-related damages, which may add fiscal pressures and disrupt food supplies in affected areas. The ministry, in its latest monthly economic outlook, said that Pakistan’s economy entered FY2026 with stable macroeconomic conditions and improved growth prospects, supported by a stronger external and fiscal position. “On a YoY basis, LSM [large scale manufacturing] has been on a steady recovery since April 2025, peaking in June, and is expected to gain further momentum with improvements in automotive and fertiliser output,”…

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