Day: January 23, 2026

ISLAMABAD: The government is in talks with International Financial Institutions (IFIs) and Saudi Arabia to secure loans worth $36 billion over 13 years starting FY2027 to refinance the power sector’s mounting debt-servicing burden, a move aimed at lowering electricity tariffs—particularly for industry, well-informed sources told Business Recorder. According to the sources, discussions with IFIs, including the World Bank and the Asian Development Bank (ADB), are centered on financing at an interest rate of around 2 per cent, while funding from Saudi Arabia is being explored at a lower rate of…

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DAVOS: The State Oil Company of the Republic of Azerbaijan (SOCAR) is set to finalise its investment in Pakistan’s oil and gas sector in February, following a high-level business roundtable chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on the sidelines of the World Economic Forum (WEF) Annual Meeting. According to an official statement issued on Thursday, the announcement was made by SOCAR President Rovshan Najaf during his engagement with the finance minister. Najaf said SOCAR views Pakistan as a long-term energy partner, citing the country’s market…

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KARACHI: China has finalised new joint venture agreements worth $1.5 billion with Pakistan and signed memoranda of understanding (MoUs) valued at around $9 billion in the agriculture, automotive and minerals sectors, Federal Minister for Investment Qaiser Ahmed Sheikh said on Thursday. Speaking to The Express Tribune, the minister said China is also expected to make an additional $10 billion investment in Pakistan in the near future, as global interest in the country continues to grow and broader foreign investment inflows are anticipated in the coming years. He disclosed that a…

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QUETTA: Heavy rain and snowfall swept across the Quetta valley and large parts of northern and central Balochistan on Thursday, ending a prolonged dry spell but bringing routine life to a standstill across the province. The severe weather led to the closure of major highways, effectively cutting off the provincial capital, while strong Siberian winds caused temperatures to plunge sharply across the region. Authorities reported that six members of a family were injured when their vehicle skidded off the Quetta–Karachi national highway in the Surab area of Kalat district due…

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ISLAMABAD: The cost of doing business in Pakistan is approximately 34 per cent higher than in comparable regional economies, creating a severe competitiveness crisis for local industry, the Pakistan Business Forum (PBF) warned on Thursday. In a statement, the PBF said elevated operating costs—driven by irrational taxation, excessive energy prices and currency instability—have significantly undermined the ability of Pakistani industries to compete in international markets. As a result, exports have remained largely stagnant since 2022, despite a recovery in global trade across several sectors. PBF Chairman Ahmad Jawad said Pakistani…

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