As one of ten students from the Gwadar Institute of Technology selected for a nine-month study program at Hebei Jiaotong Vocational and Technical College, Anas embarked on a journey that would prove transformative in ways he could never have imagined.

According to a report carried by China Economic Net (CEN) on Tuesday, the program, which brought future road and bridge construction engineers from Balochistan to China, was an eye-opening experience from the very first day.

China’s vast and sophisticated transportation network, with its prowess in railways, highways, bridges and tunnels, impressed Anas and his fellow students.

“We are truly fortunate to come to China and study engineering technology here,” Anas recalls, his voice still carrying the warmth of that experience.

For a young man from a region where infrastructure development holds the key to economic progress, every lesson felt personal.

Anas chose civil engineering with a clear purpose. “The China-Pakistan Economic Corridor is an opportunity for our local people,” he says with conviction.

“I see myself playing a part in the CPEC framework in the future, contributing meaningfully to its success through the skills and knowledge I have acquired.”

That sense of mission drove him through intensive coursework, site visits and hands-on training.

The students visited real construction sites, including the metro system in Shijiazhuang, where they witnessed how advanced bridge and tunnel construction techniques are applied in urban transit projects.

“I was exposed to many new technologies that I had never encountered before. Everything is run on digital platforms, yet historic traditions are preserved alongside modernity.

We used advanced tools for our research, and during site visits, I had the opportunity to operate machinery that was entirely unfamiliar to me.” Anas says.

Yet what made Anas’s journey truly remarkable was not just the technical knowledge he gained, but the cultural connection he forged along the way.

Before arriving in China, he had spent six months learning Chinese in his hometown, driven by a lifelong fascination with Chinese culture. “Since my childhood, I have loved Chinese history, Chinese culture, and Chinese traditions very, very much,” he shares.

As a child, he often watched Chinese movies and dreamed of seeing the country in reality.

That dream came true in Shijiazhuang, where he combined his studies with his passion for soccer, a sport he took to heart partly because of movies like “Shaolin Soccer”.

When the opportunity arose to participate in the 3rd “My Hebei Story” Chinese speech contest for foreigners, Anas seized it.

Clad in his traditional Balochi dress, he spoke passionately about his journey in China and his profound respect for his people and culture. His heartfelt presentation earned him an award.

Since his return to Pakistan, Anas has continued his academic pursuits without interruption.

He is now in the third semester of his bachelor’s program in library and information science at Karachi University. Reflecting on his time abroad, he acknowledges both the technological gap and the vast potential for growth in his home country.

The tools and techniques he gained in China have already become integral to his research and hands-on work.

Anas Shakoor’s journey continues to unfold. His time in China was not merely an academic chapter but the foundation of a lifelong mission.

He cherishes every moment he spent here and is now working diligently to enhance his skills, with his sights set on securing another opportunity to return for further studies.

“I am always ready to contribute to my hometown’s development and to CPEC,” he affirmed.

Credit: Independent News Pakistan (INP) — Pak-China

The representative noted that Pakistan was one of the company’s overseas markets for rice-sorting equipment, and that the firm seeks deeper local cooperation in Pakistan, including possible partnerships with local firms, the representative said.

The machines are used to identify and remove defective grains and impurities during rice processing.

They use optical sensors and AI-based recognition to detect discoloured, broken or defective grains, as well as non-rice impurities such as glass, plastic or stones.

The company says the technology can also help reduce processing losses by improving the separation of usable grains from lower-quality material and impurities.

Pakistan is a major producer and exporter of long-grain rice, including basmati varieties.

The representative said the country’s rice-processing sector had demand for technology that could improve efficiency and quality control.

The company’s Pakistan push comes as China and Pakistan seek to expand agricultural cooperation, including in agricultural machinery, technical collaboration and local manufacturing.

Such cooperation has increasingly focused on moving beyond trade in farm products to processing, mechanisation and higher-value agricultural supply chains.

The firm is considering introducing a cloud-based factory management system to Pakistan, the representation told CEN.

The system is designed to connect sorting machines with production-line management, rather than having each machine operate separately.

Credit: Independent News Pakistan (INP) — Pak-China

Gilgit-Baltistan is implementing a Rs50 million trout farming project in District Ghizer as part of efforts to strengthen food security and support economic growth in the region.

According to official documents available with Wealth Pakistan, the Government of Gilgit-Baltistan has directed its development resources towards food and nutrition security through fisheries, trout farming, modern agriculture and early childhood development programmes.

According to the report, the project titled "Ensuring Food Security and Economic Growth through Extension of Trout Farming in District Ghizer" is under implementation with a total cost of Rs50 million and an allocation of Rs22.8 million during the current year.

Gilgit-Baltistan is also implementing the "Targeting Blue Revolution towards Food, Nutrition and Livelihood Security through Conservation of Local Species in Gilgit-Baltistan" project with a total cost of Rs80 million and an allocation of Rs2.97 million.

Another project, "Improving Rural Livelihood and Food Security through Modern Agricultural Techniques in District Ghizer", is being implemented with a total cost of Rs30 million and an allocation of Rs5.3 million.

According to the report, these initiatives form part of the region's broader strategy to improve food and nutrition security through investments in fisheries, agriculture and related sectors.

The report also highlights several other nutrition-related programmes currently under implementation in Gilgit-Baltistan. These include the Food Fortification Programme of the Food Department with a total cost of Rs99 million and an allocation of Rs5.5 million, and the School Meal Programme for Female Primary Schools with a total cost of Rs112.7 million and an allocation of Rs6.5 million.

The Gilgit-Baltistan Scaling Up Nutrition (SUN) Programme Phase-II is also under implementation with a total cost of Rs72.7 million and an allocation of Rs2.4 million.

Gilgit-Baltistan's development priorities reflect the region's distinct ecological and geographic context, with a focus on food and nutrition security through fisheries, trout farming, modern agriculture and early childhood development initiatives. The Rs50 million trout farming project in District Ghizer is among the key interventions currently being implemented to support food security and economic growth in the region.

Credit: INP-WealthPk

Sindh is implementing a Rs61.6 billion health and population initiative aimed at improving maternal and child health outcomes as part of its broader nutrition and human capital development strategy.

According to official documents available with Wealth Pakistan, the Government of Sindh directed its development portfolio towards integrated health, maternal and child care, human capital and poverty reduction as key pathways for improving nutrition outcomes.

According to the report, the Sindh Human Capital Investment: 1000 Days — Integrated Health and Population Project is under implementation with a total cost of Rs61.6 billion and an allocation of Rs2.5 billion during the year.

The report highlights the project as the largest programme among several nutrition-related initiatives currently being implemented by the provincial government.

Sindh is also implementing the Sindh Health Support Programme with a total cost of Rs3.91 billion and an allocation of Rs150 million.

Work is underway on the establishment of a Maternal and Child Health Care Centre at Liaqat University Hospital, Jamshoro, with a total project cost of Rs4.96 billion and an allocation of Rs20.8 million.

The province is also implementing the Expansion of People's Poverty Reduction Programme (PPRP), which carries a total cost of Rs6.58 billion and an allocation of Rs1 billion.

These initiatives form part of Sindh's efforts to improve nutrition outcomes through integrated investments in health, population welfare, maternal and child care, human capital development and poverty reduction.

The provincial government has prioritized these sectors as part of its broader development strategy aimed at improving health and nutrition indicators.

The combined portfolio reflects Sindh's focus on addressing health and nutrition challenges through targeted development interventions across multiple sectors.

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The Pakistan Textile Council (PTC) has welcomed the export-focused measures announced in the Finance Bill 2026-27, saying the budget reflects the government's commitment to strengthening investment, boosting competitiveness and promoting export-led growth.

In letters sent to Finance Minister Senator Muhammad Aurangzeb and Minister of State for Finance Bilal Azhar Kayani, PTC Chairman Fawad Anwar appreciated the government's efforts to balance economic growth objectives with fiscal discipline and to introduce reforms to improve the business environment.

He praised the restructuring of income tax slabs for salaried individuals, noting that higher disposable incomes could bolster domestic demand and strengthen the workforce in Pakistan's export industries.

Mr Anwar also welcomed the rationalisation of the super tax for companies with taxable income of up to Rs500 million, describing the measure as a positive step for the production sector. He said the relief would support business expansion, encourage reinvestment and improve investor confidence.

He highlighted the government's decision to abolish the super tax on exporters, saying the move would reduce the tax burden on export-oriented businesses, improve competitiveness and send a positive signal to both local and foreign investors.

Mr Anwar further appreciated the reduction in the combined levy on export proceeds from 2% to 1.25%, saying the measure would ease liquidity constraints and improve cash flows for exporters operating in an increasingly competitive global market.

While expressing support for the overall direction of the budget, the PTC chairman proposed additional measures to maximise the benefits of the government's export agenda.

He urged policymakers to consider treating the reduced 1.25% turnover tax as a full and final discharge of income tax liability for exporters. He argued that such a framework would simplify compliance, reduce disputes and provide businesses with greater certainty for long-term planning and investment.

As an alternative, the PTC chairman proposed reducing the corporate income tax rate on export income to 15% if a final tax regime cannot be implemented immediately. He noted that a lower rate would bring Pakistan's tax structure closer to that of regional competitors such as Bangladesh and Sri Lanka, thereby attracting export-oriented investment.

Anwar said the Finance Bill 2026-27 demonstrates the government's recognition of the export sector's role in economic growth and foreign exchange earnings. He added that targeted refinements to the tax regime would further strengthen the sector's ability to expand exports, attract investment and contribute to sustainable economic development.

The textile industry remains Pakistan's largest export sector and a key source of employment and foreign exchange. Industry representatives believe that a predictable and competitive tax framework will be essential for maintaining export momentum and supporting the country's broader economic objectives in the years ahead.

Credit: INP-WealthPk

The Asian Infrastructure Investment Bank's (AIIB) plans to explore non-sovereign and private-sector financing in Pakistan could help mobilise long-term investment for critical infrastructure projects and reduce pressure on public finances, experts say.

The prospect gained attention after AIIB President Ms. Zou Jiayi, during a recent meeting with Federal Minister for Economic Affairs Ahad Cheema, indicated the bank's interest in expanding its engagement in Pakistan beyond sovereign lending. According to the AIIB president, the bank's overall portfolio in Pakistan stands at nearly $3.5 billion.

Experts believe the move reflects a broader shift among multilateral development banks toward mobilising private capital alongside traditional sovereign lending, creating new opportunities for countries facing fiscal constraints.

Speaking with Wealth Pakistan, Irfan Bukhari, founding member of the Export Import (EXIM) Bank of Pakistan, said AIIB's private financing push could help attract international capital that has traditionally remained cautious about entering Pakistan.

"Private capital, when properly structured, deployed and monitored, can be mobilised at a scale and speed no multilateral borrowing can match," he said.

Bukhari noted that AIIB's private-sector window could serve as a quality signal and risk mitigant for international investors. He said participation by a multilateral development bank often encourages commercial lenders to enter markets they might otherwise avoid.

"Done well, AIIB's non-sovereign instruments can deliver blended finance structures that de-risk projects enough to attract capital that would otherwise shun Pakistan's risk profile," he said.

He added that such financing could provide longer-tenor funding of 15 to 25 years, which domestic banks generally struggle to offer for large infrastructure projects.

However, Bukhari cautioned that Pakistan's experience with public-private partnerships highlights the need for stronger institutions and improved governance before new financing models can achieve their full potential.

He pointed to the power sector's circular debt challenge as an example of how policy and planning shortcomings can undermine otherwise viable investment frameworks.

"Capacity payments did not cause the circular debt crisis. Excess generating capacity installed caused it, and excess capacity is the direct consequence of demand projections the government made, approved and never realised," he said.

Bukhari stressed that private capital cannot substitute for public accountability and can only function effectively alongside sound policymaking and project management.

Imran Ur Rahman, Associate Professor and Senior Research Fellow at the Center for Trans-Himalaya Studies, School of Economics and Management, Leshan Normal University in Sichuan, China, said AIIB's private-sector financing could unlock substantial investment opportunities in Pakistan's infrastructure sector without adding to the government's debt burden.

"It can mobilise long-term capital for critical infrastructure projects in energy, transport and water without adding to Pakistan's public debt," he said.

Rahman noted that blended finance and credit enhancement mechanisms could make projects more attractive to commercial lenders by lowering perceived investment risks.

He said successful non-sovereign transactions backed by a credible multilateral institution such as AIIB would also send a positive signal to global investors.

"Successful deals demonstrate that reputable multilateral institutions are willing to back commercially viable projects in Pakistan, which can encourage other international investors to reassess their risk perceptions," he said.

According to experts, the success of any expansion in private-sector financing will depend on Pakistan's ability to strengthen regulatory frameworks, improve project preparation, and channel investment into sectors capable of generating economic returns and foreign exchange earnings.

As infrastructure financing needs continue to outpace available public resources, they believe greater participation by institutions such as AIIB in private-sector projects could provide Pakistan with an important source of long-term development capital while reducing reliance on sovereign borrowing.

Credit: INP-WealthPk

The rapid rise of artificial intelligence (AI)-powered factories across major industrial economies is transforming global manufacturing and creating an opportunity for Pakistan to boost productivity, strengthen competitiveness and improve export performance through greater adoption of digital technologies.

Manufacturers around the world are increasingly using AI to automate production processes, enhance quality control, reduce machine downtime and optimize supply chains. The trend is accelerating as industries seek greater efficiency and resilience amid intensifying global competition.

The World Economic Forum recently added 17 new members to its Global Lighthouse Network, bringing the total number of manufacturing sites recognized for advanced Fourth Industrial Revolution technologies to 189. Of the new additions, 13 sites were designated as Fourth Industrial Revolution Lighthouses for achieving significant operational improvements through digital transformation, while five received Sustainability Lighthouse status for reducing environmental impacts through advanced technologies.

According to the United Nations Industrial Development Organization (UNIDO), artificial intelligence, industrial automation and digital manufacturing technologies are emerging as key drivers of productivity growth and industrial competitiveness, particularly in export-oriented sectors. Countries investing in smart manufacturing are benefiting from faster production cycles, lower operating costs and improved product quality.

The momentum behind AI-driven manufacturing has continued to strengthen globally. In April 2025, leading industrial technology companies expanded investments in AI-enabled manufacturing platforms capable of real-time process monitoring, predictive maintenance and automated quality inspection, reflecting growing demand for intelligent production systems.

For Pakistan, the global shift comes at a critical juncture. According to the Pakistan Economic Survey 2025-26, manufacturing accounted for 12.1% of the country's GDP, while the large-scale manufacturing sector continued to face challenges stemming from high production costs and structural inefficiencies.

Industry experts believe the wider adoption of AI-based production systems could help address these challenges by improving efficiency, reducing waste and enhancing the competitiveness of Pakistani products in international markets.

Pakistan's digital infrastructure is also expanding. The Economic Survey reported that broadband subscribers reached approximately 161 million, while 3G and 4G subscribers exceeded 143 million, providing a stronger foundation for industrial digitalization and technology adoption.

The government has increasingly prioritized digital transformation through initiatives aimed at promoting information technology exports, digital skills development and industrial modernization.

Speaking to Wealth Pakistan, Muhammad Bilal, Assistant Manager for Digital Transformation at Nishat Mills Limited, said AI-powered manufacturing is rapidly becoming an industrial necessity rather than merely a source of competitive advantage.

"Manufacturers around the world are using artificial intelligence to optimize production schedules, reduce machine downtime and improve product consistency. Companies that fail to adopt these technologies risk losing competitiveness in international markets where efficiency and quality standards continue to rise," he said.

Bilal noted that Pakistan's textile sector could particularly benefit from AI-enabled solutions.

"Predictive maintenance systems, automated quality inspection and intelligent inventory management can significantly reduce costs and waste. These technologies are becoming more accessible and can deliver measurable productivity gains even for medium-sized manufacturers," he said.

Saad Ahmed, Deputy Manager of Supply Chain Analytics at Lucky Cement Limited, said smart manufacturing can help Pakistani industries improve operational efficiency and resilience.

"AI-driven systems enable companies to analyze large volumes of production and logistics data in real time. This improves decision-making, reduces inefficiencies and allows manufacturers to respond more quickly to changes in demand or supply-chain disruptions," he said.

Ahmed emphasized that successful adoption would require investment not only in technology but also in workforce development.

"The technology itself is important, but companies also need skilled workers capable of managing digital systems and interpreting data. Industrial training and digital skills development will therefore be essential to realizing the full benefits of AI-powered manufacturing," he said.

Analysts believe the global expansion of AI-powered factories represents a major shift in industrial production. As countries compete to strengthen manufacturing competitiveness, Pakistan has an opportunity to leverage its expanding digital connectivity, large industrial base and growing technological capabilities to modernize production systems.

Greater adoption of artificial intelligence could help local manufacturers improve productivity, lower operating costs and enhance export competitiveness, supporting broader industrial growth and economic development in the years ahead.

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China's newly unveiled urban renewal strategy under its 15th Five-Year Plan (2026-2030) offers valuable lessons for Pakistan as the country struggles with housing shortages, overstretched municipal services and growing climate-related challenges, experts say.

The discussion has gained momentum following the release of China's first national-level urban renewal blueprint by the State Council in late May. The plan integrates green infrastructure, climate resilience and urban governance reforms into a single development framework rather than treating them as separate policy areas.

The Chinese initiative is expected to attract investment of more than 15 trillion yuan ($2.2 trillion) over five years and includes the upgrading of 200,000 kilometres of gas pipelines, 175,000 kilometres of drainage networks and the renovation of 500,000 dilapidated housing units.

Experts believe the strategy's focus on revitalising existing urban areas instead of continuous outward expansion is particularly relevant for Pakistan, where rapid urbanisation has placed mounting pressure on infrastructure and public services.

According to the World Bank, 38.36% of Pakistan's population lived in urban areas in 2024. Meanwhile, Karachi ranked 170th out of 173 cities in the Economist Intelligence Unit's 2025 Global Liveability Index, highlighting the challenges facing the country's largest urban centres.

Speaking with Wealth Pakistan, Muhammad Ibrahim, an urban development specialist working on a World Bank-funded project in Khyber Pakhtunkhwa, said Pakistan could benefit significantly from adopting green urban planning principles.

He noted that cities such as Lahore and Peshawar are increasingly affected by the urban heat island effect, where dense concrete development traps heat and worsens air quality. Nature-based solutions, including urban forests and green corridors, could help lower temperatures and improve environmental conditions at relatively low cost.

Ibrahim also stressed the need to redirect Public Sector Development Programme (PSDP) and provincial Annual Development Programme (ADP) spending from urban sprawl toward upgrading ageing water, gas and sewerage networks in existing city centres.

He further advocated zoning reforms that promote mixed-use development, enabling residents to access schools, hospitals and commercial facilities within walking distance of residential areas.

On housing, Ibrahim highlighted the Green Building Code of Pakistan (GBCP-2023) as an underutilised tool for improving sustainability in urban development.

He suggested making internationally recognised green building certifications, including LEED, EDGE and BREEAM, mandatory for new high-rise and commercial projects. Such standards encourage the use of rooftop solar systems, rainwater harvesting and energy-efficient building materials, reducing pressure on power infrastructure.

To strengthen climate resilience, Ibrahim recommended adopting the Sponge City concept, which uses permeable pavements, rain gardens and bioswales to absorb stormwater naturally, reduce urban flooding and replenish groundwater reserves.

Arfa Ijaz, an environmental engineer and energy researcher at the Sustainable Development Policy Institute (SDPI), said Pakistan's urban centres face a combination of rapid population growth, climate vulnerability and infrastructure deficits that became particularly evident during the devastating floods of 2022.

She argued that cities unable to manage flood risks or provide reliable energy services struggle to attract investment, retain skilled workers and sustain economic growth.

According to Ijaz, China's urban renewal framework offers two key lessons for Pakistan.

The first is policy integration. She said housing, municipal services, climate resilience and governance should be treated as interconnected components of a single urban system rather than managed separately by different institutions.

Pakistan's urban planning framework, she noted, often suffers from fragmentation, resulting in gaps between housing development and drainage systems, energy planning and building standards, and master plans and their implementation.

"The second lesson is sequencing," Ijaz said, explaining that China's approach prioritises upgrading existing infrastructure before expanding into new urban areas.

She added that Pakistan's secondary cities, including Faisalabad, Multan, Peshawar and Quetta, still have an opportunity to incorporate green building standards, resilient drainage systems and low-carbon energy solutions at the planning stage instead of retrofitting them later at much higher cost.

Experts agree that physical infrastructure investment alone will not be enough to transform Pakistan's cities. Stronger municipal institutions, integrated planning frameworks and financing mechanisms linked to measurable climate outcomes will be essential if the country is to build more liveable, sustainable and climate-resilient urban centres.

Credit: INP-WealthPk

Guyana's rapid economic transformation through the development of its natural resources is drawing attention across the developing world, offering valuable lessons for Pakistan as it seeks to unlock the potential of its vast but largely unexplored mineral reserves.

The South American nation has emerged as one of the world's fastest-growing economies following the discovery and development of offshore energy resources. According to the International Monetary Fund (IMF), Guyana's economy expanded by 43.6% in 2024 after growing 33% in 2023, while real GDP is projected to increase by a further 10.3% in 2025.

The IMF attributes the growth primarily to resource-sector expansion and related investment activity, highlighting how effective management of natural resources can transform economic prospects.

The country's resource revenues have also significantly strengthened public finances. According to Guyana's Ministry of Finance, the Natural Resource Fund closed 2024 with assets exceeding $3 billion, providing resources for infrastructure development, healthcare, education and economic diversification initiatives.

Although Guyana's growth has largely been driven by oil production, experts say its broader success stems from creating a policy environment that attracted foreign investment, ensured regulatory certainty and facilitated long-term resource development.

The experience is particularly relevant for Pakistan, which possesses substantial deposits of copper, gold, iron ore, lithium, rare earth elements and other industrial minerals.

Speaking at the Pakistan Minerals Investment Forum (PMIF) 2025, officials noted that more than 95% of Pakistan's mineral wealth remains unexplored despite the country's significant geological potential. The forum brought together international investors, mining companies and policymakers to explore opportunities in the sector.

Signs of improvement are already emerging. According to the Pakistan Economic Survey 2025-26, the mining and quarrying sector recorded growth of 0.4% in FY2025-26, marking the first positive growth following four consecutive years of contraction.

Production of several minerals posted strong increases during July-March FY2025-26. Magnesite production surged 164.8%, rock salt 109.9%, gypsum 67.0%, iron ore 41.5%, ocher 31.7%, limestone 25.1% and coal 6.5%.

One of the most significant developments has been growing international interest in Pakistan's copper and gold resources, particularly the Reko Diq project, which is expected to become one of the world's largest undeveloped copper-gold mines.

Industry experts believe the project has the potential to generate substantial export earnings, attract foreign investment and create employment opportunities over the coming decades.

Speaking to Wealth Pakistan, Muhammad Ahsan, Manager Mining Projects at Descon Engineering Limited, said Guyana's experience demonstrates that natural-resource wealth alone is not enough to guarantee economic success.

"The key lesson from Guyana is that resource development must be supported by consistent policies, investor confidence and institutional capacity. Investors need regulatory certainty and long-term visibility before committing capital to large-scale mining projects," he said.

Ahsan stressed that expanding geological exploration and improving resource mapping should be among Pakistan's immediate priorities.

"A large portion of Pakistan's mineral potential remains underexplored. Better geological data can help reduce investor risk and accelerate the development of commercially viable projects," he said.

Faisal Raza, Supply Chain Manager at Mughal Iron & Steel Industries Limited, said rising global demand for critical minerals has created new opportunities for resource-rich countries.

"The transition toward clean energy, electric vehicles and advanced manufacturing is increasing global demand for copper, lithium and other strategic minerals. Countries that can develop reliable supply chains will be better positioned to attract investment and strengthen exports," he said.

Raza emphasized the need to move beyond the export of raw materials.

"Pakistan should focus on developing processing facilities and industrial ecosystems around mining projects. Greater value addition can generate higher export earnings, create skilled jobs and support broader industrial development," he said.

Analysts believe Pakistan's mining sector could emerge as a major driver of economic growth if exploration, investment and downstream processing continue to expand.

As global demand for minerals increases and investors seek new resource opportunities, Guyana's experience demonstrates how effective resource management, investor-friendly policies and value-added development can transform natural wealth into long-term economic growth and national competitiveness.

Credit: INP-WealthPk

The federal government has proposed a new sovereign mobile communication project for officials to enhance digital sovereignty, strengthen cybersecurity infrastructure and secure official communications against evolving cyber threats, according to a document available with Wealth Pakistan.

The project – Pakawaaz Secure Mobile Communication Ecosystem – has an estimated cost of Rs708.71 million. It has been included among ongoing public sector development initiatives for FY2026-27, with an initial allocation of Rs100 million proposed for the upcoming fiscal year. The project is expected to be completed within 12 months once formally approved by the Central Development Working Party (CDWP).

The initiative seeks to create a sovereign and secure mobile communication ecosystem for government users by deploying a private cellular network isolated from public communication infrastructure. The proposed system will incorporate centralised multi-factor authentication using user credentials, SIM verification and device authentication to strengthen cybersecurity safeguards.

Under the project, the government plans to develop a dedicated secure communication platform capable of providing end-to-end encrypted voice and video calls, secure messaging and protected file-sharing services. The platform will be supported by dedicated administration and network operations systems and hosted at the National Telecommunication Corporation (NTC) Data Centre.

The project also envisages the provision of 10,000 hardened mobile devices featuring hardware-based security architecture and a locally developed hardened operating system. The move will reduce dependence on foreign communication platforms for sensitive government communications.

In addition, the initiative includes the establishment of sovereign software development environments, a secure chat application, controlled digital directories and a private application store to facilitate the secure delivery of government applications, including e-office services.

The government expects the project to play a key role in building a secure national communication framework for public institutions once regulatory and development approvals are obtained.

Credit: INP-WealthPk

Pakistan’s merchandise trade deficit narrowed significantly in May 2026, as a sharp contraction in imports combined with modest export growth eased pressure on the country’s external account, according to provisional data released by the Pakistan Bureau of Statistics (PBS).

Exports rose to $2.69 billion in May, up 9.0 percent from $2.47 billion in April and 0.71 percent from $2.67 billion in the same month last year. In rupee terms, exports increased 8.83 percent month-on-month to Rs749.45 billion from Rs688.66 billion, although they edged down 0.39 percent compared to May 2025.

Imports, meanwhile, fell sharply to $5.48 billion, registering a decline of 18.66 percent from $6.73 billion in April and 3.30 percent from $5.66 billion a year earlier. In local currency terms, imports dropped 18.30 percent to Rs1.54 trillion from Rs1.88 trillion in the previous month.

As a result, the monthly trade deficit narrowed to $2.79 billion, equivalent to Rs787.10 billion. The improvement was driven primarily by a steep reduction in imports across several key categories. Petroleum crude imports declined 41.07 percent month-on-month, petroleum products fell 48.11 percent, while imports of iron and steel, electrical machinery and palm oil dropped 28.35 percent, 27.91 percent and 20.61 percent, respectively.

On the export side, growth was led by value-added textile products, reinforcing the sector’s role as Pakistan’s principal foreign exchange earner. Readymade garment exports increased 17.94 percent month-on-month, bedwear rose 20.12 percent, towels gained 17.80 percent and basmati rice exports climbed 18.93 percent, while knitwear also recorded growth.

The improvement was not limited to monthly performance. Compared with May 2025, the trade deficit also narrowed, supported by both higher exports and lower imports. However, the broader picture for the fiscal year remains less encouraging.

During July-May FY2025-26, exports declined 5.67 percent to $27.89 billion from $29.56 billion in the corresponding period of the previous year. In contrast, imports increased 6.26 percent to $62.85 billion from $59.15 billion, pushing the cumulative trade deficit to $34.96 billion.

In rupee terms, the July-May trade gap widened to Rs9.84 trillion, as exports fell 5.08 percent to Rs7.83 trillion while imports rose 7.04 percent to Rs17.67 trillion.

Among the leading export categories in May were knitwear worth Rs124.25 billion, readymade garments at Rs115.41 billion, bedwear at Rs79.51 billion and cotton cloth at Rs40.64 billion. On the import side, crude petroleum remained the largest import item at Rs195.54 billion, followed by petroleum products at Rs141.63 billion, despite substantial month-on-month declines in both categories.

Although the resilience of value-added textile exports is encouraging, broader challenges remain. Pakistan continues to rely heavily on imported energy and industrial inputs, while export growth remains concentrated in a narrow range of products.

The contrast between May’s improvement and the wider fiscal-year trend highlights the fragility of the country’s external sector. Sustained progress will depend on maintaining export momentum, expanding value-added and diversified exports, and keeping imports at manageable levels without undermining industrial activity.

Credit: INP-WealthPk

The government is set to launch a Rs283 billion programme to build a secure, sovereign, and innovation-driven artificial intelligence ecosystem over the next five years.

According to the Public Sector Development Programme (PSDP) documents available with Wealth Pakistan, the National AI Ecosystem Development Programme (NAIEDP) will be implemented from 2026 to 2031.

The government has proposed an initial allocation of Rs185 million for FY2026-27 to start work on the programme.

The initiative is expected to serve as a cornerstone of Pakistan’s broader digital transformation agenda and help position the country to benefit from the growing global AI economy.

Among its key objectives, the programme aims to promote economic transformation and growth by adopting artificial intelligence across sectors.

In addition, it plans to provide support for AI startups and innovation, encouraging the growth of a domestic technology ecosystem and fostering entrepreneurship in emerging technologies.

Sector-specific modernization through AI applications forms another major component of the programme. The initiative is expected to facilitate the use of artificial intelligence in public services, industry and other economic sectors to improve efficiency and productivity.

The documents also highlight the development of AI governance and ethical frameworks to ensure responsible use of the technology. A strategic funding window is proposed under the programme to enable swift responses to emerging technological opportunities and challenges.

With a projected outlay of Rs283 billion through 2031, the NAIEDP represents a significant step towards strengthening Pakistan’s technological competitiveness and long-term digital development.

Credit: INP-WealthPk

Pakistan’s value-added textile exports recorded strong growth in May 2026, helping lift overall exports during the month despite continued pressure on the country’s cumulative export performance, according to provisional commodity-wise data released by the Pakistan Bureau of Statistics (PBS).

The textile group remained the largest contributor to Pakistan’s export earnings, with knitwear, readymade garments and bedwear leading the increase in export receipts. Overall exports rose to $2.69 billion in May from $2.47 billion in April, reflecting a 9.0 percent month-on-month increase.

Among the major export categories, knitwear generated Rs124.25 billion in export proceeds during May, up 7.62 percent from April and 0.92 percent from the same month last year. Readymade garments recorded one of the strongest performances, rising 17.94 percent month-on-month and 9.47 percent year-on-year to Rs115.41 billion.

Bedwear exports climbed 20.12 percent from April to Rs79.51 billion, while towel exports increased 17.80 percent to Rs29.23 billion. Cotton cloth exports remained largely stable at Rs40.64 billion, declining marginally by 0.11 percent compared with the previous month but registering a 6.54 percent increase over May 2025.

The strong performance of these categories highlights the continued importance of value-added textile products in Pakistan’s export basket. Together, knitwear, garments, bedwear and towels accounted for a substantial share of the country’s export earnings during the month.

Not all segments, however, performed equally well. Cotton yarn exports declined 23.97 percent month-on-month to Rs16.73 billion, although they remained 39.72 percent higher than a year earlier. Similarly, exports of made-up articles excluding towels and bedwear increased 6.34 percent over April but remained below last year’s level.

The May data suggests that demand for value-added textile products remained relatively resilient compared to lower value-added segments. This helped offset weakness in some other export categories and contributed to the overall increase in exports during the month.

The resilience of value-added textiles was also evident in the cumulative July-May FY2025-26 data. The textile group generated export earnings of $16.67 billion during the first 11 months of the fiscal year, compared with $16.37 billion in the corresponding period last year, reflecting an increase of 1.83 percent.

Within the sector, knitwear exports rose 1.03 percent to $4.60 billion, readymade garments exports rose 5.43 percent to $3.97 billion, bedwear increased 2.23 percent to $2.90 billion, and cotton yarn exports climbed 13.35 percent to $701.10 million. However, tents, canvas & tarpulin exports slipped by 4.29 percent to $112 million, while cotton cloth exports declined 7.47 percent to $1.56 billion.

The improvement also comes as the government seeks to accelerate export growth under the FY2026-27 budget. Measures announced in the budget include the extension of the final tax regime for exporters until June 2029 and a reduction in advance tax on exports from 2 percent to 1.25 percent, aimed at improving liquidity and competitiveness for export-oriented industries.

Despite the encouraging monthly performance, broader export trends remain challenging. During July-May FY2025-26, Pakistan’s total exports declined 5.67 percent to $27.89 billion from $29.56 billion in the corresponding period of the previous fiscal year, indicating that exporters continue to face a difficult external environment.

Nevertheless, the latest PBS figures reinforce the textile sector’s position as the backbone of Pakistan’s export economy. Continued growth in value-added segments such as garments, knitwear and home textiles will be critical to boosting export earnings, narrowing the trade gap and strengthening the country’s external account position in the coming fiscal year.

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Pakistan's large-scale manufacturing (LSM) sector expanded 6.44% during the first 10 months of FY26, driven by a sharp recovery in automobile production and solid growth in garments, food processing, cement and other consumer-linked industries, according to provisional data released by the Pakistan Bureau of Statistics (PBS).

The latest figures indicate that industrial activity continued to strengthen during July-April FY26, supporting expectations of a broader economic recovery despite persistent weakness in some segments of heavy manufacturing.

The Quantum Index of Manufacturing (QIM) stood at 122.19 during July-April FY26, compared with 114.79 in the corresponding period of last year. On a year-on-year basis, LSM output rose 6.06% in April 2026. However, production declined 8.32% compared with March, suggesting some moderation after stronger growth in the previous month.

The automobile sector remained the biggest driver of manufacturing growth, contributing 1.61 percentage points to overall expansion. Vehicle production surged 64.33% during July-April FY26, while output in April alone jumped 83.88% compared with the same month last year.

Garments emerged as another major contributor, adding 1.19 percentage points to overall growth as production increased 7.34% during the review period. Food industries contributed 1.60 percentage points, reflecting stronger consumer demand and higher processing activity.

Growth was broad and spanned a wide range of industries. Cement production increased 9.13%, beverages 7.87%, tobacco 12.74%, electrical equipment 13.46%, furniture 27.89%, and other transport equipment recorded a robust 42.30% rise.

At the product level, sugar production posted a notable 31.60% increase during July-April FY26, reflecting improved raw material availability and stronger industrial activity. Cement, garments and several consumer-oriented manufacturing segments also maintained positive momentum throughout the fiscal year.

The data suggest that consumer demand and construction-related activity are increasingly supporting industrial growth. Rising automobile production, higher cement output and expansion across several consumer industries signal improving business conditions and stronger investment activity compared with the previous year.

Despite the encouraging headline numbers, the recovery remained uneven across the manufacturing landscape.

Several sectors continued to contract during the period. Pharmaceutical production declined 6.55%, iron and steel products 6.98%, chemicals 2.30%, fertilizers 1.98%, and machinery and equipment 4.18%, highlighting ongoing challenges in parts of the industrial sector.

PBS data showed positive growth in food, beverages, tobacco, textiles, wearing apparel, paper and board, petroleum products, rubber products, non-metallic mineral products, fabricated metal products, electrical equipment, automobiles, transport equipment and furniture. In contrast, leather products, chemicals, pharmaceuticals, iron and steel products, and machinery and equipment remained in negative territory.

While the month-on-month decline in April indicates that industrial momentum softened after March, cumulative growth during July-April FY26 suggests Pakistan's manufacturing sector has entered a firmer recovery phase, supported by stronger domestic demand, improving business activity and a sustained rebound in automobile production.

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Pakistan’s large-scale manufacturing (LSM) sector showed mixed performance in April 2026, as a sharp rebound in automobile production contrasted with a broader decline in overall industrial activity, according to data released by the State Bank of Pakistan (SBP).

The Quantum Index of Large-Scale Manufacturing (QIM), a volume-based measure of industrial output using 2015-16 as the base year, stood at 114.56 in April 2026, down from 124.96 in March and 131.72 in February. The index reached a recent high of 144.49 in January before losing momentum in the following months.

Despite the overall slowdown, the automobile sector emerged as the standout performer. Its index surged to 160.41 in April from 108.78 in March, reflecting an increase of more than 47% month-on-month and marking the highest reading during the six-month period under review.

The strong rebound in vehicle manufacturing provided a significant boost to industrial activity at a time when several other sectors remained under pressure.

Performance across other industries was mixed. The paper and board sector improved to 144.73 in April from 140.69 in March, while cigarette production rose to 91.61 from 83.11. Jute goods also recorded growth, increasing to 19.68 from 14.24.

Cotton cloth production remained largely unchanged at 84.57 compared with 84.56 in March, indicating stable output levels. Tea blending activity remained broadly steady during the month.

However, a number of key industries recorded weaker performance. Vegetable ghee production declined to 107.23 in April from 112.15 in March. Cement output slipped to 99.77 from 100.93, extending a downward trend from the higher levels recorded earlier in the fiscal year. Fertiliser production also eased to 104.36 from 113.92, while cotton yarn output remained subdued at 79.26.

The latest data highlights the uneven nature of Pakistan’s industrial recovery during FY26. While the automobile sector demonstrated strong resilience and robust growth, weakness in construction-related industries and some consumer goods segments continued to weigh on overall manufacturing performance.

The divergence suggests that industrial growth remains concentrated in selected sectors rather than broadly distributed. Although the sharp rise in automobile production offers an encouraging signal for manufacturing activity, sustained expansion across a wider range of industries will be necessary to strengthen industrial output and support Pakistan’s broader economic growth objectives in the coming months.

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The successful listing of Service Long March Tyres Limited (SLM), the first Chinese-owned company to go public on the Pakistan Stock Exchange (PSX), marks a significant milestone in Pakistan-China industrial cooperation and highlights the growing role of Chinese investment in developing Pakistan's tyre manufacturing industry and strengthening its position in international export markets.

SLM recently completed Pakistan's largest-ever initial public offering (IPO), raising Rs7.78 billion and attracting approximately 35,565 applications from institutional and retail investors. The company said the book-building portion was oversubscribed by 16.7 times and was fully subscribed within five seconds, while the retail portion was oversubscribed by 7.6 times, reflecting strong investor confidence in the company's growth prospects and Pakistan's manufacturing sector.

The IPO comprised 389.7 million ordinary shares, representing five percent of SLM's post-IPO paid-up capital. While the floor price was set at Rs14.25 per share, strong demand during the book-building process resulted in a strike price of Rs19.95 per share, increasing the transaction size from Rs5.55 billion to Rs7.78 billion.

The offering attracted participation from commercial banks, mutual funds, development finance institutions, insurance companies, investment banks, pension and employee funds, brokerage houses, high-net-worth individuals, foreign investors and retail investors.

SLM’s ownership structure consists of a 51 percent stake held by Servis Group, 44 percent by China’s Chaoyang Long March Co. Ltd., and 5 percent by Myco Corporation. Pakistan has designated the $300 million venture as a Sole Enterprise Special Economic Zone (SESEZ).

The company represents one of the most prominent industrial partnerships between Pakistan and China. The venture established a state-of-the-art tyre manufacturing facility at Nooriabad in Sindh and has emerged as Pakistan's largest truck and bus radial tyre manufacturer.

Beyond the record-breaking size of the offering, the listing carries strategic significance for Pakistan-China economic cooperation. Service Long March Tyres has become the first Chinese-owned company to be listed on the Pakistan Stock Exchange, marking a new milestone in the evolution of bilateral industrial and financial ties.

Observers describe the transaction as a landmark development because it brings a major Chinese-backed manufacturing enterprise into Pakistan's public capital market for the first time. They believe the listing could provide a model for future Chinese industrial investments seeking to expand operations and raise capital in Pakistan as CPEC enters a more industry-led phase.

The listing also reflects the growing diversification of Pakistan-China economic cooperation into manufacturing and industrial investment. Unlike many earlier collaborations that focused on infrastructure and energy, the Service Long March venture represents a partnership in value-added manufacturing aimed at serving both domestic and international markets.

The successful IPO is seen as evidence that Chinese-backed industrial projects in Pakistan are beginning to attract wider investor interest and participation through the country's capital market.

A gong ceremony was held in Karachi on Monday to commemorate the listing, where Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb described the project as a proud milestone that was developed during the COVID-19 period with Chinese expertise and investment.

He said the company is on track to achieve exports of $100 million next year, adding that Service Long March had demonstrated how Pakistan can pursue industrial growth through an export-led model.

Aurangzeb noted that Pakistan recorded 11 IPOs during the current fiscal year, reflecting growing investor confidence in the country's economy and capital markets.

Speaking at the ceremony, YOU Hang, Executive Vice President of China Financial Futures Exchange and Shareholder Director at PSX, said the success of the IPO demonstrated confidence in Pakistan-China cooperation and would contribute to strengthening industrial capacity, creating employment opportunities and reducing foreign exchange expenditures. He said the achievement could serve as a model for other Chinese enterprises seeking to invest and grow their businesses in Pakistan.

Pakistan Stock Exchange Chairman Ruhail Muhammad said the listing underscored the importance of Pakistan-China collaboration as the China-Pakistan Economic Corridor (CPEC) moves into a more industry-led phase.

He noted that while the first phase of CPEC focused primarily on addressing Pakistan's energy shortages, the next phase is expected to promote industrial and financial integration. According to him, Service Long March Tyres, as a Pakistan-China joint venture listed on the PSX, represents a significant milestone in that transition.

SECP Commissioner Ali Farid Khwaja described the listing as a celebration of both the success of CPEC and the growth of Pakistan's capital markets. He said the IPO set records in demand and subscription while demonstrating strong investor confidence in the company and its future prospects.

SLM Chief Executive Officer Omar Saeed said Pakistan had established itself as a tyre-exporting country and that the company intended to enter new international markets every year. He said the fresh capital raised through the IPO would support expansion plans and help strengthen Pakistan's position in both truck and passenger car tyre segments.

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Pakistan’s federal budget has drawn a mixed response from economists and market experts, who see targeted relief measures and incentives for key sectors but caution that ambitious revenue targets and persistent fiscal pressures could hamper implementation of the key proposals announced in the Finance Bill 2026-27.

The budget projects total expenditure of Rs18.8 trillion and sets a Federal Board of Revenue tax collection target of Rs15.3 trillion, representing an 18% increase over the previous year. The government has also projected a fiscal deficit of Rs7.02 trillion, while aiming to maintain fiscal consolidation under its ongoing reform programme.

Analysts noted that the budget largely continues the government's fiscal consolidation agenda, seeking to balance revenue mobilisation with targeted relief measures while operating within limited fiscal space. However, concerns persist over the heavy debt-servicing burden, with interest payments alone consuming more than 42% of total expenditure and over half of projected tax revenues.

Speaking to Wealth Pakistan, Waqas Ghani, Head of Equity Research at JS Global Capital Limited, noted that the government had provided relief to businesses and taxpayers, which the market has received positively. Among the key measures is the reduction in super tax from 10% to 8% for companies with income exceeding Rs500 million, excluding banks, exploration and production firms, and fertiliser companies. According to him, the move could boost corporate earnings by 3-3.4%.

He also highlighted relief for salaried individuals through revised tax slabs, higher income thresholds and the abolition of the 9% surcharge on incomes above Rs10 million.

From a sectoral perspective, Ghani highlighted construction, automobiles, textiles and IT as the major beneficiaries. Reduced transaction taxes in the property sector are expected to support construction activity, while textile exporters stand to gain from the reduction in advance tax on exports from 2% to 1.25%. He further noted that extension of the Final Tax Regime (FTR) for the IT and IT-enabled Services sector until June 2029 would provide policy continuity and support export growth in the technology sector.

Meanwhile, Dr Sajid Amin Javed, Deputy Executive Director (Research) at the Sustainable Development Policy Institute, offered a more cautious assessment, arguing that the budget remains focused on fiscal stabilisation rather than structural economic transformation.

He said the government’s 4% GDP growth target appears achievable, but warned that much of the projected expansion could come from real estate activity, which generates limited employment and has weak linkages with the broader industrial sector.

Dr Javed also questioned the official inflation forecast of 8.2%, arguing that inflation could remain between 11% and 13% due to higher petroleum prices, a record petroleum development levy target, elevated energy costs and uncertainty in global oil markets.

While he described the FBR revenue target as attainable through economic growth, inflation and improved compliance, he expressed reservations about the expected contribution from the retailers’ taxation scheme.

According to Dr Javed, further reforms are needed to broaden the tax base and reduce inflationary pressures. He suggested increasing the tax exemption threshold for salaried individuals to Rs1.2 million, lowering the highest income tax slab to 30%, providing direct support to the construction sector and reducing reliance on petroleum levies.

The budget projects gross revenues of Rs20.6 trillion, including Rs5.3 trillion in non-tax revenues, while current expenditure is estimated at Rs17.5 trillion. Mark-up payments remain the single largest expenditure item, followed by defence spending, subsidies and grants, highlighting the narrow fiscal space available for development spending.

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Pakistan's minor crop sector recorded a mixed but largely encouraging performance during 2025-26, with strong gains in the production of gram, potato and mung bean helping offset declines in some other crops.

The latest agricultural data presented in the Annual Plan 2026-27 available with Wealth Pakistan shows that several crops registered significant increases in both cultivated area and output, reflecting positive momentum in important segments of the agriculture sector.

Gram emerged as one of the best-performing crops during the year. The area under cultivation increased by 10.6% to 782,240 hectares from 707,000 hectares in 2024-25. Production grew even faster, rising by 52.4% to 262,030 tonnes compared to 171,950 tonnes in the previous year. The substantial increase in output indicates a much stronger harvest despite gram remaining one of the smaller crops in terms of overall production volume.

Potato maintained its position as the standout performer among minor crops. The cultivated area expanded by 23.4% to 466,560 hectares from 378,100 hectares a year earlier. Production climbed by 23.2% to 12,171,000 tonnes from 9,880,240 tonnes in 2024-25. The increase of nearly 2,290,760 tonnes in output underscores the crop's growing importance and its contribution to agricultural production.

Mung bean also delivered a strong performance during the year. The area under cultivation increased by 13.9% to 211,380 hectares from 185,610 hectares, while production rose by 15.2% to 151,090 tonnes from 131,200 tonnes. The simultaneous increase in acreage and production points to a steady growth in the crop's cultivation.

Chilies posted a modest but positive growth. The cultivated area increased by 3.3% to 33,210 hectares from 32,150 hectares, while production also rose by 3.3% to 89,360 tonnes compared with 86,470 tonnes in the previous year. Although the gains were relatively small, the crop remained on a positive growth trajectory.

Not all crops performed equally well during the year. Onion recorded a slight decline, with cultivated area falling by 1.5% to 163,750 hectares from 166,280 hectares.

Production decreased by 1.7% to 2,701,780 tonnes compared with 2,747,120 tonnes a year earlier.

Lentil production also weakened. The area under cultivation declined by 4.8% to 5,770 hectares from 6,060 hectares, while production fell by 10.2% to 3,870 tonnes compared with 4,310 tonnes in 2024-25. The decline in output outpaced the reduction in cultivated area, indicating a weaker overall performance for the crop.

Similarly, mash cultivation contracted during the year. The cultivated area decreased by 13.6% to 6,530 hectares from 7,560 hectares, while production slipped by 3.6% to 5,630 tonnes compared with 5,840 tonnes in the previous year.

Tomato was another crop that faced challenges. The area under cultivation declined by 12.1% to 41,990 hectares from 47,790 hectares, while production dropped by 11.9% to 555,720 tonnes from 630,680 tonnes in 2024-25.

Despite declines in onion, lentil, mash, and tomato, the strong gains recorded in gram, potato, and mung bean provided a positive overall picture for the minor crop segment. The sharp rise in gram production and the substantial increase in potato output were among the most notable developments of the year, highlighting the resilience of several important crops and their contribution to agricultural growth.

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The federal government utilized 63.4 percent of its authorized PSDP allocations during the first 11 months (July–May) of FY2025-26, shows the Ministry of Planning, Development and Special Initiatives data available with Wealth Pakistan.

The development expenditure reached Rs529.82 billion, compared with Rs596.61 billion, reflecting a utilization rate of around 57.6 percent during the corresponding period of FY2024-25.

According to the latest data, among the federal ministries and divisions, the expenditure amounted to Rs391.02 billion against authorized allocations of Rs575.63 billion. The largest spending was recorded under the Provinces and Special Areas, where the expenditure reached Rs153.86 billion against an authorization of Rs197.47 billion.

Water Resources emerged as the second-largest spending head among federal ministries, posting an expenditure of Rs69.88 billion during the July-March 2025-26 period against an authorized allocation of Rs106.64 billion. The Cabinet Division spent Rs44.21 billion, while the Higher Education Commission (HEC) utilized Rs27.79 billion during the review period.

The Federal Education and Professional Training Division recorded expenditure of Rs20.91 billion, followed by the Railways Division at Rs15.69 billion and the Planning, Development and Special Initiatives Division at Rs14.41 billion.

The other significant expenditures included the Interior Division (Rs6.31 billion), Information Technology and Telecommunication Division (Rs4.94 billion), Defence Division (Rs4.80 billion), Revenue Division (Rs4.51 billion) and National Health Services, Regulations and Coordination Division (Rs3.89 billion).

At the corporate sector level, the expenditure stood at Rs138.80 billion against an authorized allocation of Rs260.01 billion. The National Highway Authority (NHA) accounted for the largest share, utilizing Rs85.07 billion, while the Power Division entities, including NTDC and PEPCO, spent Rs53.73 billion.

The expenditure pattern indicates that infrastructure-related sectors continued to dominate PSDP spending during the first 11 months of FY2025-26, with provinces and special areas, water resources, NHA, education, and railways accounting for a substantial portion of overall development expenditures.

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Pension expenditure in Punjab has emerged as one of the fastest-growing components of current expenditure, underscoring the need for sustained reforms and prudent liability management.

According to the Punjab government’s White Paper for FY2026-27, pension expenditure increased from Rs36.4 billion in FY2010-11 to an estimated Rs452.16 billion in FY2025-26, representing a more than 12-fold rise over the past 15 years.

The provincial government operates a defined-benefit pension scheme for its permanent employees, under which pension payments are financed from current revenues on a pay-as-you-go basis.

The White Paper notes that pension expenditure has historically outpaced both current expenditure and revenue growth. However, recent reforms have helped moderate the pace of increase, with revenue growth beginning to outstrip pension expenditure growth.

According to the document, the implementation of pension reforms and other rationalisation measures is expected to improve this trend further and gradually reduce the pension burden. An actuarial evaluation of the Punjab Pension Fund (PPF) showed that the government's accrued pension liability declined from Rs11.883 trillion to Rs6.385 trillion, reflecting a 43 percent reduction.

To support the management of future pension obligations, the government established the PPF as a dedicated investment vehicle for accumulating resources to meet long-term pension liabilities. Despite fiscal constraints, the government has continued to prioritise the fund's capitalisation and has contributed Rs63.1 billion since its inception.

Budget documents reveal that PPF assets are expected to reach approximately Rs197 billion by June 30, 2026, comprising both government contributions and investment earnings. The fund has also contributed Rs19.8 billion towards meeting pension obligations.

Since its inception, the fund has generated a cumulative return of 14 percent, reflecting prudent investment management. The government believes ongoing pension reforms will strengthen the fund’s long-term sustainability and enhance the province’s capacity to meet future pension obligations.

Budget documents show that FY2025-26 marked the first full year of implementation of the Punjab government’s pension reform framework, a key component of its broader fiscal sustainability and public financial management agenda.

During the year, the government focused on operationalising the Defined Contribution Pension Scheme (DCPS) for new entrants, while the fiscal effects of parametric reforms introduced in the Defined Benefit Pension Scheme (DBPS) during FY2024-25 also began to materialise.

According to an independent actuarial assessment commissioned by the PPF, the reform measures have significantly strengthened the long-term sustainability of the pension system. The future service cost of the legacy DBPS declined substantially, with the contribution rate required to fund future pension accruals falling from 45.46 percent to 19.26 percent of pensionable payroll, a level considered consistent with global benchmarks for pension sustainability.

Implementation during FY2025-26 focused on establishing institutional readiness for the DCPS through extensive coordination with administrative departments, district administrations, drawing and disbursing officers (DDOs), and pension fund managers. These efforts facilitated the onboarding of new employees and the operationalisation of pension accounts across the province.

As a result, all employees appointed or regularised on or after January 8, 2024, are now enrolled under the DCPS, preventing the accumulation of additional unfunded liabilities under the legacy DBPS. Since January 2024, approximately 22,000 employees have been enrolled in the scheme.

With the government’s contribution fixed at 12 percent of basic pay under the DCPS, compared with 19.14 percent under the reformed DBPS, the new scheme is expected to reduce long-term pension costs and deliver progressively larger savings as membership expands.

The fiscal impact of the reforms has already begun to appear in the province’s expenditure profile. Pension expenditure for FY2026-27 has been budgeted at Rs505.8 billion. Official estimates suggest that, in the absence of these reforms, pension expenditure for the year could have reached Rs590.399 billion.

The reforms have therefore played a significant role in moderating expenditure growth and creating additional fiscal space for development priorities and essential public service delivery.

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Pakistan recorded a current account surplus of $459 million in May 2026, reversing a deficit of $276 million in April and highlighting the growing role of remittance inflows in supporting the country's external account, according to State Bank of Pakistan (SBP) data.

The improvement came despite a widening trade deficit, as a sharp increase in workers' remittances more than offset pressures arising from imports and income payments.

Data released by the SBP showed workers' remittances reached $4.25 billion in May, the highest level in the past six months and up from $3.54 billion in April. Total secondary income inflows increased to $4.42 billion during the month from $3.75 billion a month earlier, providing a significant boost to the external sector.

The latest figures indicate that Pakistan's current account has remained in surplus for four of the first five months of 2026. After posting surpluses of $68 million in January, $231 million in February and $1.13 billion in March, the current account slipped into a deficit in April before returning to surplus in May.

The country's merchandise trade position, however, remained under pressure. Exports of goods stood at $2.37 billion in May compared with $2.62 billion in April, while imports amounted to $5.69 billion. As a result, the trade deficit in goods widened to $3.32 billion from $3.37 billion in April, remaining the largest drag on the external account.

Services trade continued to provide limited support. Exports of services were recorded at $837 million during May, while imports stood at $809 million, resulting in a modest surplus of $28 million. Although lower than the $59 million surplus recorded in March, the positive balance helped partially offset the merchandise trade gap.

Primary income outflows, which include profit repatriation and investment income payments, also remained significant. The primary income deficit stood at $634 million in May, compared with $657 million in April, reflecting continued external payment obligations.

Despite these pressures, strong remittance inflows lifted the balance on secondary income to $4.38 billion, up from $3.72 billion in April. This enabled the balance on goods, services and primary income to improve substantially and ultimately helped push the current account back into surplus territory.

The financial account also showed improvement during the month. It recorded a net inflow of $516 million in May, compared with $365 million in April. Within the financial account, direct investment in Pakistan increased to $214 million from $54 million a month earlier, indicating a recovery in foreign investor interest.

Other investment flows also strengthened considerably, generating a net inflow of $947 million compared with a marginal outflow of $31 million in April. Government-sector disbursements reached $466 million during the month, while inflows related to IMF credit and loans amounted to $211 million.

The improvement in external flows contributed to a strengthening reserve position. According to SBP data, reserve assets increased by $1.21 billion in May, compared with a $551 million decline in April. Consequently, the central bank's gross foreign exchange reserves rose to $18.47 billion by the end of May from $17.20 billion a month earlier.

The latest data suggest that remittances remain the most important stabilising factor for Pakistan's external account. While exports and foreign investment showed mixed performance and imports remained elevated, strong inflows from overseas Pakistanis helped offset external imbalances and supported reserve accumulation. Hence, posting that the sustainability of the current account position will depend on the country's ability to strengthen exports, attract higher levels of foreign investment and maintain robust remittance inflows amid evolving global economic conditions.

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Pakistan's Real Effective Exchange Rate (REER) rose to 106.15 in May 2026 from 105.84 in April, indicating a slight appreciation in the rupee's inflation-adjusted value against the currencies of the country's major trading partners, according to data released by the State Bank of Pakistan (SBP).

The REER is a widely used measure of a country's external competitiveness because it compares the value of the domestic currency against a basket of trading-partner currencies while accounting for inflation differentials. A higher REER generally indicates that domestic goods are becoming relatively more expensive in international markets, while a lower REER suggests improved export competitiveness.

The latest increase extended the upward trend seen in recent months. The REER stood at 103.11 in February, then rose to 104.29 in March and 105.84 in April, reaching its highest level in six months in May.

Meanwhile, the Nominal Effective Exchange Rate (NEER), which measures the rupee's value against the currencies of major trading partners without adjusting for inflation, remained largely stable. The index stood at 37.90 in May, compared with 37.89 in April, reflecting only a marginal movement in the currency's nominal value.

Month-on-month data showed that the REER increased by 0.3% in May, while the NEER recorded a marginal rise of 0.03%. The relatively small changes suggest that exchange-rate movements remained broadly stable during the month, with inflation differentials accounting for most of the increase in the real exchange rate.

The latest figures come at a time when Pakistan's external sector has shown signs of improvement. The country recorded a current account surplus of $459 million in May, supported by strong remittance inflows and an increase in foreign exchange reserves.

Workers' remittances reached $4.25 billion during the month, providing a significant boost to foreign exchange earnings and helping strengthen the country's external position. At the same time, SBP's gross foreign exchange reserves increased to $18.47 billion by the end of May.

The increase in the REER reflects the combined impact of exchange-rate stability and inflation trends relative to Pakistan's trading partners. As a key measure of the rupee's competitiveness in international markets, the REER is closely monitored by economists, while the NEER tracks the currency's nominal value against a basket of major trading-partner currencies without adjusting for inflation.

The latest data hence suggest that Pakistan's currency remained relatively stable during May, supported by improving external-sector indicators. However, maintaining competitiveness in export markets will require a balance between exchange-rate stability, productivity gains and inflation management.

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Pakistan's trade deficit in goods and services narrowed to $3.29 billion in May 2026 from $3.34 billion in April, as a continued surplus in services trade helped offset part of the country's large merchandise trade gap, according to State Bank of Pakistan (SBP) data.

The improvement came despite lower export earnings, as a decline in imports and positive contributions from services exports helped reduce pressure on the external sector.

SBP data showed that total exports of goods and services stood at $3.21 billion in May, down from $3.52 billion in April. Imports of goods and services also declined during the month, falling to $6.50 billion from $6.86 billion, resulting in a modest improvement in the overall trade balance.

Merchandise trade remained the principal source of pressure on the external account. Goods exports amounted to $2.37 billion in May, down from $2.62 billion a month earlier, while imports stood at $5.69 billion compared with $5.99 billion in April. Consequently, the trade deficit in goods remained high at $3.32 billion.

In contrast, Pakistan maintained a surplus in services trade for the third consecutive month. Services exports reached $837 million, while imports totalled $809 million, resulting in a surplus of $28 million in May. Although lower than the surpluses recorded in March and April, the positive balance continued to provide support to the country's external position.

Information technology-related services remained the largest contributor to services exports. Telecommunications, computer and information services generated export earnings of $373 million during the month, accounting for nearly 45% of total services exports. Other business services contributed $174 million, while government goods and services exports stood at $83 million.

Travel services generated export earnings of $116 million, followed by transport services at $69 million. Together, these sectors continued to strengthen Pakistan's services export base and diversify foreign exchange earnings beyond traditional merchandise exports.

On the import side, transport services remained the largest component at $360 million, reflecting shipping and logistics costs associated with international trade. Travel services imports amounted to $132 million, while other business services and telecommunications, computer and information services imports stood at $103 million and $59 million, respectively.

The latest figures highlight the growing role of services exports in moderating Pakistan's external-sector pressures. While the merchandise trade deficit remained substantial, earnings from information technology, business and travel services helped cushion the impact of the goods trade imbalance.

A comparison with recent months shows that the overall deficit in goods and services narrowed from $3.39 billion in December 2025 to $3.34 billion in April 2026. However, it remained significantly higher than the $2.31 billion recorded in March, when both imports and the goods trade deficit were comparatively lower.

Overall, the latest figures show that while Pakistan's merchandise trade deficit continued to weigh on the external account, a sustained surplus in services trade helped limit the overall trade gap. The performance of information technology and other services exports provided an important buffer against external-sector pressures and supported a more balanced trade position during the month.

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Two key development projects of the Ministry of Climate Change and Environmental Coordination are set for completion on June 30, 2026, focusing on strengthening Pakistan’s water quality monitoring systems and enhancing biosafety regulations related to genetically modified organisms (GMOs).

According to a document available with Wealth Pakistan, these projects, implemented with domestic and international support, have focused on enhancing environmental governance, regulatory oversight and compliance with international commitments.

The first project, “Capacity Building on Water Quality Monitoring and SDG-6 Reporting,” has a total cost of Rs1.289 billion, including a PSDP allocation of Rs102 million and in-kind support of $7.42 million from the Korea International Cooperation Agency (KOICA).

According to the project details, the initiative has strengthened national and provincial capacities for water-quality monitoring and SDG-6 reporting through infrastructure support, training and digital management systems.

Under the project, 45 laboratories across Punjab and Khyber Pakhtunkhwa have been upgraded with modern testing equipment and trained human resources. The project also established a water-quality Management Information System (MIS) along with mobile testing laboratories to improve data collection and monitoring.

The project’s major achievements include the development of standard operating procedures (SOPs), training more than 250 laboratory staff, improving provincial data systems for SDG-6 monitoring, and supporting the formulation of the National WASH Policy.

The second project, “Pakistan Biosafety Clearing House (Pak-BCH) for Regulation of GMOs,” with a total cost of Rs200 million, is also set to be completed by June 2026.

The project was established to help Pakistan meet its obligations under the Cartagena Protocol on Biosafety and serves as a national regulatory platform for GMO-related activities, including approvals, monitoring, and compliance mechanisms.

According to project details, Pak-BCH issued 870 import permits for genetically modified soybean and 129 permits for GM canola. The initiative also generated more than Rs1.5 billion in regulatory fees.

The project further contributed to updating the Biosafety Rules and Guidelines in 2024 and laid the groundwork for establishing a permanent National Biosafety & Regulatory Centre (NBRC) to maintain regulatory continuity beyond the project period.

The completion of both projects marks progress in strengthening environmental governance, water resource monitoring, and biosafety regulation frameworks in Pakistan.

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Pakistan's major crops sector posted a largely positive performance in 2025-26, with wheat, rice and sugarcane recording higher production than the previous year, according to the latest official assessment of area and production targets.

Wheat, the country's staple crop, showed a notable improvement during the year, says the Annual Plan 2026-27 available with Wealth Pakistan.

The cultivated area increased to 9.478 million hectares from 9.074 million hectares a year earlier, while production rose by 4.3% to 29.605 million tonnes from 28.396 million tonnes. The crop also came very close to the official production target of 29.678 million tonnes, highlighting strong output despite agricultural challenges.

Rice production also remained encouraging. Although the cultivated area declined by 3.6% to 3.759 million hectares, the output increased by 2.8% to 9.998 million tonnes compared with 9.723 million tonnes in 2024-25. The production figure exceeded the target of 9.170 million tonnes, reflecting improved productivity and crop management.

Sugarcane emerged as one of the strongest performers among major crops. The area under cultivation expanded by 2.4% to 1.222 million hectares, while production surged 6.2% to 89.450 million tonnes from 84.238 million tonnes a year earlier. The output significantly surpassed the target of 80.320 million tonnes, underscoring robust growth in the sector, the plan noted.

The overall performance of these key crops indicates resilience in Pakistan's agricultural sector and supports food supplies and agro-based industries. Strong wheat and rice harvests are particularly important for food security, while higher sugarcane output is expected to benefit the sugar and allied industries.

Maize and cotton, however, faced a more challenging year, the plan noted. Maize cultivation remained almost unchanged at 1.587 million hectares, while production declined 2.7% to 8.794 million tonnes from 9.037 million tonnes. The output remained below the target of 9.775 million tonnes.

Cotton also continued to struggle, with cultivated area falling 1.5% to 2.012 million hectares. Production slipped marginally by 0.5% to 7.052 million bales compared with 7.084 million bales in the previous year, remaining well below the target of 10.128 million bales.

Despite these setbacks, gains in wheat, rice, and sugarcane helped offset weaknesses in other crops and contributed to a generally positive picture for the agricultural sector.

The results suggest that productivity improvements and better crop performance in several key segments enabled agriculture to maintain momentum during 2025-26.

According to the comparative analysis, wheat and sugarcane recorded both higher cultivated area and production, while rice achieved higher output despite a reduction in acreage. These trends indicate improved efficiency in some crop segments and highlight the sector's capacity to sustain growth under varying conditions.

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Agriculture will remain a major driver of economic activity during the upcoming financial year 2026-27, supported by projected growth across crops, livestock, fisheries and forestry under the government's sustainability and export agenda.

According to the Annual Plan 2026-27 available with Wealth Pakistan, the government has set an overall agriculture growth target of 3.6% for the next fiscal year, reflecting confidence in the sector's ability to support food security, rural incomes and economic expansion.

The plan, aligned with URAAN Pakistan and the 13th Five-Year Plan, seeks to transform agriculture through higher productivity, climate resilience, digitalisation and greater participation of the private sector. It covers crops, livestock, poultry and aquaculture, while emphasising sustainable resource management and the promotion of high-value exports.

To support these objectives, Rs4.183 billion has been earmarked for the Ministry of National Food Security and Research under the Public Sector Development Programme (PSDP) for FY2026-27. The allocation will finance nine ongoing schemes and one new initiative aimed at strengthening the sector's growth momentum.

The outlook envisages growth across all major segments of agriculture. Crop production is projected to expand by 3.1%, driven by a 2.9% increase in major crops and 3.5% growth in other crops. Cotton ginning is expected to grow by 1.5%.

Livestock, which accounts for the largest share of agricultural value addition, is targeted to grow by 3.9%, while forestry and fisheries are projected to expand by 1.9% and 1.7%, respectively. These gains are expected to boost overall agriculture growth and strengthen the sector's role in the economy.

The Annual Plan also highlights the importance of research and development, evidence-based planning and increased investment in crops, livestock and aquaculture. It also calls for cluster-based development models to improve productivity and enhance export competitiveness.

Climate resilience remains a central pillar of the strategy. The government plans to integrate climate-change considerations into agricultural planning and promote sustainable farming practices to ensure long-term food and water security.

Input availability projections indicate continued support for agricultural production. Fertiliser offtake has been projected at 4.926 million tonnes on a nutrient basis, including 3.774 million tonnes of nitrogen, 1.096 million tonnes of phosphate and 57,000 tonnes of potash. Product-wise estimates show demand for 6.572 million tonnes of urea and 1.837 million tonnes of DAP.

The government projects a requirement of about 1.19 million tonnes of improved wheat seed in FY2026-27, while cotton seed availability is estimated at 34,537 tonnes against a requirement of 39,536 tonnes. Paddy seed availability is projected at 60,191 tonnes, exceeding the estimated requirement of 54,916 tonnes.

The livestock sector is expected to maintain its upward trajectory, with total meat production targeted at 6.661 million tonnes. This includes 2.720 million tonnes of beef, 873,000 tonnes of mutton and 3.069 million tonnes of poultry meat. Milk production is projected at 77,035 million litres.

Egg production is expected to reach 29,862 million numbers, while hides and skins production is projected at 22.125 million and 69.821 million, respectively. Wool production is targeted at 51,400 tonnes.

The Annual Plan underscores the government's commitment to strengthening food security, promoting exports and reducing the food-sector trade deficit through investment, innovation and sustainable agricultural development. With growth projected across multiple subsectors, agriculture is expected to remain a major contributor to economic activity in FY2026-27.

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Foreign investment in Pakistan rebounded sharply to $445.95 million in May 2026 after recording net outflows in the previous two months, driven by stronger foreign direct investment (FDI) and a recovery in portfolio inflows, according to data released by the State Bank of Pakistan (SBP).

The latest figures mark a significant turnaround from net foreign investment outflows of $379.05 million in April and $285.35 million in March, indicating improved investor confidence and renewed foreign interest in Pakistan's economy.

Data released by the SBP show that foreign private investment reached $197.79 million in May, up from $55.16 million in April. The increase was primarily driven by higher FDI inflows, which rose to $214.29 million from $54.46 million a month earlier.

Gross FDI inflows stood at $295.07 million in May, compared with $273.38 million in April. At the same time, FDI outflows declined sharply to $80.78 million from $218.92 million, helping lift net FDI to its highest level in three months.

The improvement suggests that foreign investors expanded their investment commitments while profit repatriation and capital withdrawals moderated during the month.

Portfolio investment by the private sector, however, remained negative. The segment recorded a net outflow of $16.5 million in May, although this was a marked improvement from outflows of $184.66 million in March and $78.04 million in February.

A major contribution to the recovery came from foreign public investment, which recorded a net inflow of $248.16 million during May after posting outflows of $434.21 million in April and $268.33 million in March.

The inflow was entirely concentrated in debt securities, reflecting renewed foreign participation in government debt instruments. Foreign public portfolio investment recorded inflows of $199.16 million in January and $51.17 million in February before turning negative in March and April.

Overall, foreign investment remained volatile during the first five months of 2026. The country recorded net inflows of $310 million in January and $186.65 million in February before investor sentiment weakened in March and April amid external uncertainties and portfolio outflows.

The May recovery brought total foreign investment to its highest monthly level since January and reversed much of the weakness recorded during the preceding two months.

The latest data also underscore the growing importance of FDI in supporting Pakistan's external financing needs. The rebound in May suggests that foreign investors responded positively to improving macroeconomic indicators and greater stability in the country's external sector. Higher FDI inflows, lower outflows and renewed interest in debt securities collectively helped restore overall foreign investment to positive territory.

Overall, SBP data show that Pakistan attracted nearly $446 million in foreign investment during May, with gains driven by stronger direct investment and a recovery in public-sector portfolio inflows, providing support to the country's external account and investment landscape.

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Expanding healthcare cooperation between Pakistan and China is expected to strengthen cancer treatment, improve access to advanced medical technologies, and enhance clinical research and physician training in Pakistan, health experts believe.

The growing collaboration gained fresh momentum with the recent signing of a Memorandum of Understanding (MoU) between Modern Cancer Hospital Guangzhou, Watim Medical & Dental College (WMDC), and the China Pakistan Medical Association (CPMA) under the emerging Health Corridor initiative linked to the China-Pakistan Economic Corridor (CPEC).

According to the World Health Organization (WHO), Pakistan records approximately 185,000 new cancer cases and 125,000 cancer-related deaths each year. With the disease burden projected to rise significantly in the coming decades, experts say international partnerships and technology transfer will be critical to improving diagnosis, treatment, and patient outcomes.

Speaking with Wealth Pakistan, Dr Muhammad Shahbaz, President of the China Pakistan Medical Association (CPMA), said late diagnosis, cultural barriers, and limited screening programmes continue to undermine cancer survival rates in Pakistan.

He said the recently signed MoU is expected to facilitate access to advanced oncology technologies, specialized treatment protocols, and expert clinical training from leading Chinese institutions.

“Through collaborative research, telemedicine support, and knowledge transfer, Pakistani hospitals will enhance early diagnosis and precision-based therapies, which are critical for improving long-term survival outcomes,” he said.

Dr Shahbaz noted that the partnership could also help reduce treatment costs by minimizing the need for overseas medical travel while expanding the local availability of modern cancer therapies.

He said the agreement helps Pakistani medical professionals through advanced screening techniques, standardized treatment planning, physician exchange programmes, specialized clinical training, joint research initiatives, telemedicine collaboration, and curriculum development support.

According to him, technology transfer and access to advanced diagnostic and treatment protocols will strengthen Pakistan’s oncology ecosystem, improve the standardization of cancer care, and support collaborative cancer data management systems.

He added that these institutional linkages would gradually reduce Pakistan’s reliance on overseas treatment facilities while enhancing local clinical research capacity.

Similarly, Dr Sohail Attaur Rasool, Professor and Head of the Department of Physiology at Quaid-e-Azam Medical College, Bahawalpur, told Wealth Pakistan that the MoU has the potential to generate substantial benefits by improving access to advanced treatments, enhancing affordability, and increasing survival outcomes.

He said closer cooperation between Pakistani and Chinese medical institutions would strengthen joint research activities, facilitate technology transfer, and support physician training programmes.

Dr Sohail noted that many Pakistani patients currently seek expensive cancer treatment abroad, particularly in Western countries. Greater collaboration with Chinese healthcare institutions could provide more affordable alternatives while improving the quality of treatment available locally.

Healthcare cooperation between Pakistani and Chinese institutions has expanded steadily in recent years, creating new opportunities for knowledge sharing, technological advancement, and institutional collaboration. Experts believe such initiatives can play an important role in strengthening Pakistan’s healthcare infrastructure and improving outcomes for cancer patients while further deepening Pakistan-China relations through health diplomacy.

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The State Bank of Pakistan's (SBP) decision to introduce Naya Pakistan Certificates (NPCs) in Saudi riyals (SAR) and UAE dirhams (AED) is expected to attract greater investment from overseas Pakistanis in the Gulf by eliminating currency conversion risks and making investment more convenient, experts say.

The move comes as Pakistan's remittance inflows continue to reach record levels. During the first 11 months of fiscal year 2025-26 (11MFY26), workers' remittances rose to $38.1 billion, up 9.2% from the same period last year, with Saudi Arabia and the UAE remaining Pakistan's two largest remittance corridors, according to SBP data.

In May 2026 alone, remittances from Saudi Arabia stood at $1.025 billion, while inflows from the UAE reached $1.007 billion, together accounting for nearly half of the month's total remittances.

Against this backdrop, offering investment instruments in the currencies most Gulf-based Pakistanis earn and save in is viewed as a natural step in strengthening the country's engagement with its overseas workforce.

Speaking with Wealth Pakistan, Dr Vaqar Ahmed, an Islamabad-based senior economist, said the introduction of SAR- and AED-denominated certificates removes one of the key barriers preventing Gulf-based workers from investing more actively in Pakistan.

"Previously, these workers had to worry about the rupee losing value or deal with the hassle of converting their money into US dollars. Now, they can invest their hard-earned money in the exact same currency they get paid in while earning an attractive return," he said.

He noted that the initiative simplifies investment decisions for overseas Pakistanis and could help Pakistan tap a larger share of savings currently parked in Gulf banking systems.

Under the SBP's latest circular, conventional NPCs will now be available in SAR and AED alongside the existing US dollar, British pound, euro and Pakistani rupee-denominated certificates.

Returns on the new Gulf-currency certificates range from 6.5% for three months to 7.5% for five years. Since the launch of the Roshan Digital Account (RDA) initiative in 2020, total inflows have reached $12.746 billion, with more than 62% invested in NPCs, according to SBP EasyData.

However, Dr Ahmed cautioned that while diaspora-funded instruments provide valuable support for external-sector stability, they should not be viewed as a long-term substitute for broader economic reforms.

"On the plus side, money from overseas Pakistanis is generally more stable than foreign portfolio investment, which can leave quickly during periods of uncertainty. However, paying relatively high returns in foreign currency can become costly over time," he said.

He described the certificates as an effective tool for easing short-term financial pressures but stressed that sustainable economic stability would ultimately require stronger exports, higher foreign direct investment and improvements in Pakistan's trade balance.

Meanwhile, Yahya Mohiuddin, an equity researcher at Ismail Iqbal Securities, told Wealth Pakistan that the introduction of riyal- and dirham-denominated NPCs is well aligned with Pakistan's remittance profile.

"In 11MFY26, approximately 23% of total remittances came from Saudi Arabia and 21% from the UAE, reflecting the strong earning and saving capacity of Pakistanis living in these countries. Offering NPCs in SAR and AED would help address currency conversion concerns and improve ease of investment for overseas Pakistanis," he said.

Mohiuddin noted that Gulf-currency NPCs could help transform a portion of recurring remittance flows into longer-term investment inflows, thereby providing a more stable source of foreign exchange.

Since remittances from Saudi Arabia and the UAE already account for a substantial share of Pakistan's external inflows, he said dedicated investment products in those currencies could broaden the investor base and encourage greater use of formal financial channels.

Experts believe the introduction of SAR- and AED-denominated NPCs could help convert a portion of Pakistan's large remittance inflows into longer-term investment capital. However, they stress that sustained external-sector stability will ultimately depend on stronger exports, increased foreign direct investment and broader economic reforms that reduce reliance on external borrowing.

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Pakistan's total liquid foreign exchange reserves increased to $22.74 billion during the week ended June 12, 2026, supported by a steady buildup according to official data released by the State Bank of Pakistan's (SBP).

The country's liquid foreign exchange reserves stood at $22.74 billion, comprising $17.22 billion held by the SBP and $5.52 billion maintained by commercial banks.

The latest figures reflect a continued improvement in Pakistan's external sector position. Total liquid reserves rose from $19.27 billion at the end of June 2025 to $21.33 billion by March 2026 before reaching $22.74 billion in mid-June. During the same period, the SBP's reserves increased from $14.51 billion to $17.22 billion.

The central bank remained the main contributor to the reserve accumulation, with its holdings increasing by about $2.72 billion over the past year. The growth reflects stronger foreign currency inflows and improved external account management.

On a weekly basis, SBP-held reserves maintained a gradual upward trend. The central bank's reserves increased from $17.08 billion on May 15 to $17.15 billion on May 22 and further to $17.19 billion on May 29. They rose to $17.22 billion by June 5 and remained at that level during the week ended June 12.

Similarly, total liquid foreign exchange reserves increased from $22.59 billion in mid-May to $22.74 billion by June 12, indicating continued stability in the country's foreign exchange position.

The latest reserve level represents a significant recovery from the lows recorded during FY2022-23, when Pakistan's total liquid foreign exchange reserves had fallen to $9.16 billion and SBP reserves had dropped to $4.45 billion amid severe external financing pressures.

Since then, the country's reserve position has improved steadily. Total liquid reserves increased to $14 billion by the end of FY2023-24 and further to $19.27 billion at the close of FY2024-25 before rising to the current level.

The strengthening reserve position has enhanced Pakistan's ability to meet external financing obligations, support exchange rate stability and maintain adequate foreign currency liquidity within the financial system.

The improvement comes amid stronger remittance inflows, higher foreign exchange earnings and continued efforts to strengthen the country's external account. The latest data suggest that Pakistan's reserve position remains on a gradual upward trajectory, providing a larger buffer against external shocks and improving confidence in the economy's external sector.

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The Pakistani rupee remained broadly stable against major international currencies during the third week of June, posting a slight gain against the US dollar as improving external-sector indicators and stronger foreign exchange reserves continued to support the currency market.

According to the State Bank of Pakistan (SBP), the US dollar stood at Rs278.0267 for buying and Rs278.4518 for selling on June 15. The greenback gradually eased during the week, closing at Rs277.9714 and Rs278.3965, respectively, on June 19, reflecting a modest appreciation in the rupee.

The euro recorded comparatively larger fluctuations during the week. It opened at Rs322.5667 for buying and Rs323.0531 for selling on June 15 before declining to Rs317.6590 and Rs318.1475, respectively, by June 19. The British pound followed a similar trend, moving from Rs373.6426 for buying and Rs374.2033 for selling to Rs366.3412 and Rs366.8991 over the same period.

Regional currencies remained largely stable. The Saudi riyal edged down slightly from Rs74.0766 for buying and Rs74.1864 for selling on June 15 to Rs74.0547 and Rs74.1628, respectively, by the end of the week. The UAE dirham also showed limited movement, closing at Rs75.6742 for buying and Rs75.7814 for selling on June 19.

The Chinese yuan weakened marginally during the week, falling from Rs41.1505 for buying and Rs41.2070 for selling on June 15 to Rs41.0541 and Rs41.1076, respectively, on June 19. Meanwhile, the Japanese yen remained broadly stable, ending the week at Rs1.7226 for buying and Rs1.7252 for selling.

The rupee's relative stability coincided with continued improvement in Pakistan's external-sector position. According to Arif Habib Limited (AHL), the local currency appreciated by 0.02% week-on-week against the US dollar, supported by manageable external financing pressures and improving foreign exchange inflows.

Pakistan's foreign exchange reserves also strengthened during the period. Total liquid foreign exchange reserves increased by $70 million to $22.7 billion as of June 18. SBP-held reserves rose by $5.8 million to $17.2 billion, while commercial bank reserves increased by $64.2 million to $5.5 billion. The country's reserve position provided import cover of approximately 2.71 months.

Recent external account data further supported market confidence. Pakistan recorded a current account surplus of $459 million in May 2026, compared with a deficit of $276 million in April and a deficit of $44 million in May last year. The improvement reflected stronger inflows and continued resilience in the external sector, although the cumulative current account surplus during the first eleven months of FY26 narrowed to $255 million from $1.62 billion a year earlier.

Meanwhile, the State Bank of Pakistan kept the policy rate unchanged at 11.5% during its latest Monetary Policy Committee meeting. The decision reflected a balancing of moderating economic activity and persistent inflationary pressures against a relatively stable external-sector outlook.

Overall, the rupee's performance during the third week of June reflected a balanced foreign exchange market, supported by stronger reserve holdings, a return to a current account surplus, and stable macroeconomic conditions. While global uncertainties and inflationary pressures remain important risks, improving external-sector fundamentals helped keep currency movements within a narrow range against both major and regional currencies.

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Pakistan’s weekly inflation, measured by the Sensitive Price Indicator (SPI), increased by 0.46% during the week ended June 18, 2026, driven mainly by sharp increases in the prices of tomatoes, potatoes and chicken, according to data released by the Pakistan Bureau of Statistics (PBS).

The SPI, which monitors the prices of 51 essential commodities across 50 markets in 17 urban centres, is used to gauge short-term inflationary trends and the cost of living faced by consumers.

According to PBS, tomato prices recorded the steepest weekly increase, rising 16.65% compared to the previous week. Potato prices increased by 6.82%, while chicken prices rose 5.60%, making them the largest contributors to the weekly rise in inflation.

Among other items, washing soap prices increased by 1.16%, while gur increased by 0.65%. Prices of LPG and mutton each rose by 0.51%, while shirting and long cloth increased by 0.48% and 0.43%, respectively. Egg prices edged up 0.35%, fresh milk 0.29% and curd 0.26%.

The overall increase in weekly inflation was partly offset by declines in several food and fuel items.

Onion prices recorded the largest weekly decrease, falling 2.98%, followed by garlic at 2.51% and bananas at 1.28%. Petrol prices declined by 1.06%, while pulse mash fell by 1.04%. Salt powder prices decreased by 0.95%, pulse moong by 0.61%, wheat flour by 0.53%, and high-speed diesel by 0.51%.

PBS data showed that inflationary pressures remained broad-based during the week. Of the 51 items in the SPI basket, prices for 25 items increased, 11 declined, and 15 remained unchanged.

On a year-on-year basis, weekly inflation rose by 15.28% compared with the corresponding week last year, indicating that food and energy costs continue to put pressure on household budgets.

Among the major contributors to annual inflation, onion prices surged 79.76%, followed by tomatoes at 68.59%. Electricity charges for the first quarter remained 59.40% higher than a year ago, while wheat flour prices increased by 58.72%. LPG prices rose 52.66%, petrol 44.73% and diesel 44.39%. Mutton prices were up 16.30%, chilli powder 15.20%, beef 12.86%, garlic 10.74% and bread 8.67%.

At the same time, several essential commodities remained cheaper than a year earlier. Potato prices declined by 41.09%, followed by eggs at 26.98% and pulse gram at 22.32%. Sugar prices were 17.51% lower compared to the same week last year, while salt powder declined 14.09%, pulse masoor 12.25%, pulse moong 5.48% and chicken 4.24%.

The data also showed differing inflation trends across expenditure groups. Weekly inflation for the lowest expenditure quintile increased by 0.64%, the highest increase among all income groups. The second expenditure group recorded a rise of 0.61%, followed by 0.53% for the third group, 0.51% for the fourth group and 0.39% for the highest expenditure group.

On an annual basis, inflation was 13.30% for the lowest-expenditure group and 14.48% for the highest-expenditure group. The second expenditure group recorded the highest annual inflation of 16.00%, while the third and fourth groups posted annual inflation rates of 14.00% and 13.68%, respectively.

The latest SPI data indicate that food prices remain the principal driver of short-term inflation, with fresh vegetables and poultry exerting upward pressure despite declines in some fuel products and staple food items. Annual inflation also remains elevated, reflecting the continued impact of higher food, energy and household costs on consumers across income groups.

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Female school attendance in Pakistan has risen to 57%, reflecting continued progress in expanding educational opportunities for girls across the country.

According to official documents available with Wealth Pakistan, the proportion of females aged 10 years and above who have ever attended school increased from 50% in 2018-19 to 57% in 2024-25. The improvement contributed to a rise in the overall school attendance rate, which increased from 61% to 67% during the same period.

The documents show that gains in female education were recorded across provinces and regions. In Punjab, female school attendance increased from 59% to 65%, while Sindh recorded an improvement from 45% to 49%. In Khyber Pakhtunkhwa, the rate rose from 38% to 47%, and in Balochistan from 24% to 34%, indicating broader access to education for girls.

The improvement was particularly notable in rural areas, where female school participation continued to increase, reflecting ongoing efforts to reduce disparities in access to education between urban and rural communities. Nationally, rural school attendance rose from 53% in 2018-19 to 59% in 2024-25.

The documents further show progress in educational attainment among women. The proportion of females aged 10 years and above who had completed at least primary education increased from 42% to 48% during the period under review. Female completion rates also improved across provinces, boosting overall educational outcomes.

Pakistan's literacy indicators likewise showed improvement. The literacy rate among females aged 10 years and above reached 54% in 2024-25, while rural female literacy recorded one of the most significant improvements among all population groups.

The documents indicate that the expansion of educational access for girls has driven broader progress in the education sector. During the same period, the national out-of-school children rate declined from 38% in 2023 to 28% in 2025, while the overall literacy rate for people aged 10 years and above increased from 61% to 63%.

According to the documents, the continued improvement in female school attendance and educational attainment reflects ongoing efforts to enhance access to education and promote greater participation of girls in the country's education system.

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The government will launch a Rs2.8 billion workforce development initiative to systematically enhance workforce productivity and technical competence across the sectors of surgical instruments and emerging medical devices by upgrading technical training centres in Sialkot and allied cluster areas, according to a document available with Wealth Pakistan.

The initiative “Workforce Development for Surgical Sector” will be executed by the Ministry of Industries and Production through Small and Medium Enterprises Development Authority (SMEDA), in partnership with the National Vocational and Technical Training Commission (NAVTTC) and provincial Technical Education and Vocational Training Authorities (TEVTAs).

The proposed programme will focus on skills gap assessment, curriculum development, rehabilitation and expansion of training centres, provision of modern training equipment, short-course certification programmes, and trainer development.

Pakistan’s surgical instruments sector is largely concentrated in Sialkot, contributing around 90 per cent of the country’s activity in this category. The sector recorded exports of approximately $449 million in 2024, making Pakistan one of the largest exporters of surgical instruments globally. However, the sector’s share in the global market remains limited, mainly due to slow progress towards higher-value product categories and gaps in precision manufacturing, quality assurance and compliance documentation.

The official document notes that while countries such as India and Vietnam have grown faster in the surgical and medical instruments market, Pakistan’s share declined from 0.43 per cent to 0.33 per cent between 2015 and 2024. The sector has a long-term export target of $2 billion by 2039, which would require a major shift from basic surgical instruments towards higher-value medical, dental and ophthalmic instruments.

Under the project, a detailed occupational skills analysis will be conducted across the surgical instruments value chain, including forging, CNC (Computer Numerical Control) machining, grinding and polishing, electro-polishing, passivation, quality control and documentation.

Competency-based curricula will be developed for priority trades, incorporating compliance documentation skills, ISO 13485 quality management principles, basic Medical Device Regulation (MDR/CE) awareness and traceability requirements demanded by international buyers.

Technical training centres in Sialkot will be rehabilitated, expanded and re-equipped with modern facilities, including precision machining labs, grinding and polishing workshops, quality control stations and compliance documentation training facilities.

The programme also proposes procurement of CNC machines, powder metallurgy-based machine tools, casting metal-in-mould technology, extreme low-temperature quenching equipment, bench tools, metrology equipment, hardness and surface testing instruments, and modern quality documentation systems.

Structured short-course, certificate and supervisory-level training will be delivered to workers across forging, precision manufacturing, heat treatment, machining, less fabrication, quality assurance and export documentation. The initiative will benefit both new entrants and mid-career workers.

The project will also develop in-country trainers through partnerships with technical institutions and, where required, through international collaboration with medical devices training bodies.

As per the proposed financing plan, the total PSDP requirement is Rs2.8 billion, with no foreign exchange component. The project will be implemented in phases over five financial years, starting with Rs280 million in FY2026-27, followed by Rs840 million in FY2027-28, and Rs560 million each year from FY2028-29 to FY2030-31.

SMEDA will lead project coordination and implementation, while NAVTTC will provide national skills framework alignment. Provincial TEVTAs will coordinate training delivery at Sialkot-based institutions. Industry associations, including the Sialkot Surgical Instruments Manufacturers Association, will be engaged for skills gap assessment, curriculum validation and trainee placement.

The expected outcomes include upgraded technical training centres equipped with modern machinery, updated compliance-aligned curricula for surgical sector trades, increased availability of trained and certified workers in the Sialkot cluster, improved productivity, better quality consistency, and stronger regulatory documentation discipline across firms.

The initiative can help Pakistan move beyond traditional low-margin surgical instruments and strengthen its position in higher-value regulated medical product categories, provided the project is implemented with strong industry participation and export-focused monitoring.

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The Pakistan Stock Exchange (PSX) posted a strong recovery during the third week of June, with the benchmark KSE-100 Index gaining 6,523 points, or 3.79% week-on-week, to close at 178,923 points, as investor sentiment improved following the FY27 budget announcement, easing geopolitical tensions in the Middle East and supportive macroeconomic developments.

The market remained firmly positive for most of the week as investors responded favourably to supportive budget measures, expectations of progress in US-Iran negotiations and a decline in international oil prices. However, some of the gains were pared on the final trading day amid reports of delays in talks over a permanent US-Iran peace agreement and renewed regional hostilities, triggering profit-taking in heavyweight stocks.

According to Arif Habib Limited (AHL), banking stocks emerged as the largest contributors to the benchmark index, adding 2,047 points during the week. Cement companies contributed 732 points, followed by investment banks with 663 points, exploration and production companies with 634 points and power sector stocks with 416 points.

Only a few sectors weighed on the market. Property stocks shaved off 53 points from the benchmark index, while automobile parts, sugar, woollen and synthetic and rayon sectors made marginal negative contributions.

At the company level, United Bank Limited remained the biggest positive contributor, adding 1,018 points to the index. Engro Holdings contributed 529 points, followed by Hub Power Company with 399 points, Pakistan Petroleum Limited with 377 points and Oil and Gas Development Company with 300 points.

Among the laggards, JVDC reduced the benchmark index by 53 points, while TRG Pakistan eroded 38 points. Mari Petroleum, Pakistan Oilfields and Habib Metropolitan Bank also contributed negatively to overall market performance.

AKD Securities attributed the rally to a combination of domestic and international factors. It noted that optimism surrounding a potential US-Iran understanding pushed international oil prices below $80 per barrel, their lowest level in three months, improving the outlook for Pakistan's external account and inflation trajectory.

The brokerage house also highlighted the FY27 federal budget as a major positive catalyst, noting that several sectors, including cement, steel, refineries, textiles, pharmaceuticals and technology, benefited from proposed fiscal measures. Investor sentiment was further supported by the State Bank of Pakistan's decision to maintain the policy rate unchanged during its latest Monetary Policy Committee meeting.

Market participation improved significantly during the week. According to AHL, average daily trading volumes increased 47.8% week-on-week to 1.15 billion shares, while average daily traded value surged 118% to $226 million. AKD Securities estimated average daily volumes at 1.4 billion shares compared with 900 million shares in the preceding week, reflecting strong investor interest across the market.

Despite the strong weekly performance, the market ended the week on a cautious note. Ali Najib, Deputy Head of Trading at Arif Habib Limited, said investors opted for profit-taking ahead of the weekend as uncertainty resurfaced regarding the timing of negotiations on a permanent US-Iran peace agreement and Tehran's nuclear programme.

The KSE-100 Index recorded an intraday high of 182,186 points and a low of 175,086 points during the week, highlighting the sharp swings in investor sentiment driven largely by geopolitical developments.

Looking ahead, analysts expect the market to remain sensitive to developments in the Middle East, particularly the evolving US-Iran situation. However, improving macroeconomic indicators, stable interest rates, expectations of lower energy prices and attractive market valuations are expected to continue supporting investor confidence. According to AHL, the KSE-100 Index is currently trading at a price-to-earnings ratio of 8.3 times and offers a dividend yield of 6.1%, suggesting valuations remain favourable despite the recent rally.

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China’s experience in urban planning, particularly the concept of the 15-minute community life circle, offers valuable lessons for developing countries such as Pakistan as they pursue more sustainable and people-centered urbanization.

The model, which has been widely implemented in cities such as Shanghai, is based on the idea of creating compact and accessible neighbourhoods where residents can meet most of their daily needs—including education, healthcare, shopping, cultural facilities, recreational spaces and public transport—within a 15-minute walk from their homes.

It also demonstrates how urban planning can simultaneously improve economic productivity, social cohesion, public health and quality of life. For Pakistan, the model offers practical lessons not only in promoting walkable and inclusive communities but also in leveraging digital governance and data-driven planning to build more efficient, resilient and sustainable cities.

Speaking to Wealth Pakistan, Dr Faizaan Qayyum, a faculty member at the University of Illinois Urbana-Champaign in the United States, said that China’s 15-minute community life circle has generated significant social, environmental and economic benefits.

He noted that greater walkability encourages foot traffic and stimulates local trade, sales and business activity, while reducing dependence on motorized transportation and lowering mobility barriers for residents.

According to Dr Faizaan, frequent social interactions within walkable communities create opportunities for the exchange of ideas and knowledge, fostering innovation and expanding economic opportunities. As accessibility improves, demand for local goods and services increases, creating new avenues for entrepreneurship and business growth.

He further explained that such neighbourhoods also contribute to public health by encouraging physical activity and reducing reliance on vehicles. Beyond economic gains, walkable communities strengthen social cohesion, promote inclusivity and help build more resilient urban environments.

Drawing a parallel with Pakistan, Dr Faizaan pointed out that traditional neighbourhoods such as Andrun-e-Lahore already embody some of the principles associated with the 15-minute community concept, where concentrated pedestrian activity supports vibrant local markets and strong social networks.

However, he cautioned that any effort to adopt similar models in Pakistan should be carefully planned. He stressed that urban densification and vertical expansion must be implemented in an inclusive manner to avoid displacement of existing communities, demolition of settlements and infringement of residents’ rights.

While walkability and mixed-use neighbourhoods form the physical foundation of the 15-minute community life circle, experts believe that successful implementation also requires strong digital infrastructure and data-driven governance systems.

Speaking to Wealth Pakistan, Dr Naveed Iftikhar, a senior urban policy expert and founder of Atomcamp, said that the effectiveness of such urban planning models depends significantly on the state’s capacity to develop digital systems that support informed decision-making and efficient public service delivery.

He noted that digital governance can improve transparency and accountability by decentralizing information, reducing opportunities for corruption and making public data more accessible. This, in turn, helps bring government institutions closer to communities and improves citizen engagement.

According to Dr Naveed, tools such as Geographic Information System (GIS)-based mapping, open-source maps and digital data layers can strengthen urban management and public service delivery. Such technologies enable evidence-based planning by providing accurate information on population density, households, land use and infrastructure requirements.

He added that digital tools can also enhance public safety and improve resource allocation, allowing policymakers to respond more effectively to the needs of rapidly growing urban populations.

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Pakistan's planned coal-to-urea project under the China-Pakistan Economic Corridor (CPEC) 2.0 framework could diversify the country's fertiliser feedstock base and reduce long-standing supply vulnerabilities linked to natural gas shortages, experts say.

The prospect gained attention after Fauji Fertiliser Company signed a Front-End Engineering Design (FEED) agreement with China's Hualu Engineering and Technology Co. Ltd. for a $1.12 billion coal-to-fertiliser project under the CPEC 2.0 framework. The proposed plant is expected to produce 717,000 tonnes of urea annually, consume around 2.1 million tonnes of indigenous coal each year, and begin commercial operations in 2030-31.

The proposed facility is expected to become Pakistan's first major coal-to-urea project and could help reduce the fertiliser industry's dependence on natural gas, which remains the primary feedstock for domestic urea production.

The project is being discussed at a time when farm input costs remain central to Pakistan's food-security debate. According to the Pakistan Economic Survey 2025-26, agriculture contributes 23.44% to the national gross domestic product (GDP) and accounts for 33.1% of employment. The survey also notes that an uninterrupted and affordable supply of farm inputs remains important for sustaining agricultural performance.

Recent fertiliser-sector data highlights the importance of ensuring adequate domestic supplies to meet agricultural demand. During July-March FY2025-26, fertiliser nutrient offtake stood at 3.795 million tonnes, up 11.4% from the same period last year. Domestic fertiliser production in nutrient terms declined 0.5%, while fertiliser availability fell 2.8%. Urea availability during Rabi 2025-26 stood at 4.382 million tonnes against offtake of 3.564 million tonnes.

A recent Competition Commission of Pakistan (CCP) study on the fertiliser sector highlighted structural challenges, including reliance on natural gas supplies, high capital costs and plant-location constraints, factors that could increase the importance of alternative feedstock projects in the future. The study noted that Pakistan's fertiliser plants have a combined production capacity of 9.4 million tonnes per year.

Speaking with Wealth Pakistan, Muhammad Umar Farooq, Senior Research Associate at the Pakistan-China Institute, said Pakistan's first coal-to-urea project could strengthen fertiliser security by diversifying an industry that still depends heavily on natural gas as its primary feedstock.

He said domestic urea production has periodically faced gas shortages, seasonal demand pressures and import requirements. A coal-based production route using indigenous resources could provide a more predictable supply during sowing seasons while reducing exposure to international fertiliser prices and foreign-exchange pressures.

Farooq said the project's broader value would depend on whether additional output reaches small and medium-sized farmers through timely distribution, competitive pricing and reliable access, rather than merely increasing national production figures.

He emphasized that Pakistan needs an integrated policy framework covering feedstock security, mining, transport, water, power, investment governance and environmental performance. Project incentives, he added, should be transparent, time-bound and linked to local employment, domestic procurement, workforce training and participation by Pakistani engineering and service firms.

Farooq also stressed that the partnership with Hualu Engineering should facilitate technology transfer in coal gasification, chemical processing and plant management, helping build domestic expertise rather than creating long-term dependence on imported technology and equipment.

He noted that coal gasification is capital-, water- and carbon-intensive, making it essential to incorporate pollution controls, water recycling systems, continuous emissions monitoring and a credible carbon-management plan from the design stage.

Talha Nasir, Research Associate at Engro Fertilisers, told Wealth Pakistan that the project could enhance fertiliser security by reducing dependence on imported natural gas and urea while ensuring a more stable domestic supply for farmers.

He said stronger local production could support price stability, improve agricultural productivity and reinforce Pakistan's food-security framework through greater self-reliance in fertiliser manufacturing.

Nasir added that policymakers should encourage local resource utilization through transparent and consistent industrial policies, a stable investment environment, stronger infrastructure and logistics networks, environmental safeguards and continued technology upgrades. Long-term policy continuity and support for domestic manufacturing, he said, would be essential for building a resilient fertiliser sector.

If implemented successfully, the project could become a significant component of Pakistan's fertiliser supply chain while advancing CPEC 2.0's industrial cooperation agenda. Its long-term success, however, will depend on policy consistency, environmental stewardship, technology transfer and distribution mechanisms that ensure the benefits of additional production reach farmers, particularly small growers, when fertiliser demand peaks.

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Pakistan’s power sector has recorded a significant expansion of 1,820.66 MW in generation capacity during the fiscal year 2025-26, with the total capacity reaching 46,275.36 MW.

According to official figures of the Power Division available with Wealth Pakistan, the country’s total installed capacity increased from 44,454.7 megawatts (MW) in July 2025 to 46,275.36 MW by June 2026, reflecting a net addition of 1,820.66 MW, with renewable energy emerging as the primary driver of growth.

According to the latest data, most of the newly added capacity came from clean energy sources, underscoring the country’s gradual shift toward a more sustainable and diversified energy mix. Of the total additions made during the year, 1,663.44 MW were contributed through solar net-metering systems, while 157.22 MW came from hydropower projects.

The data revealed the rise in net-metering capacity as a strong indication of increasing consumer confidence in renewable technologies. The installed capacity under solar net-metering grew from 5,492.7 MW at the start of the fiscal year to 7,156.14 MW by June 2026. This substantial increase highlights the growing adoption of rooftop solar systems by households, commercial establishments, and industrial consumers seeking relief from rising electricity costs.

Hydropower also registered modest growth, with installed capacity increasing from 11,707 MW to 11,864.22 MW during the year. The data noted that hydropower remains a critical component of Pakistan’s long-term energy strategy due to its low operating costs and renewable nature.

In contrast, capacities of most conventional power generation sources remained unchanged during the period. Coal-fired generation maintained a capacity of 7,920 MW, including 3,300 MW from local coal projects and 4,620 MW from imported coal plants. Similarly, gas-based power generation stood at 3,422 MW, while RLNG-based plants retained a capacity of 6,973 MW.

Oil-fired generation continued at 2,515 MW, bagasse-based plants remained at 400 MW, and nuclear power capacity stayed stable at 3,530 MW. Wind power also showed no change, maintaining an installed capacity of 1,845 MW, while utility-scale solar projects remained at 650 MW.

The figures suggest that while large-scale thermal and conventional generation assets have largely reached a plateau, distributed renewable energy systems are becoming an increasingly important part of Pakistan’s electricity landscape.

The rapid expansion of net-metering demonstrates both the affordability of solar technology and the public’s desire for greater energy independence.

The increasing share of renewable energy is essential for reducing fuel import bills, improving energy security, and lowering carbon emissions. The latest capacity additions align with national efforts to encourage cleaner energy sources and reduce reliance on imported fossil fuels.

With total installed capacity now exceeding 46,000 MW, Pakistan’s power sector enters the next fiscal year with a stronger renewable energy footprint.

Credit: INP-WealthPk

Balochistan recorded the largest reduction in the proportion of out-of-school children among Pakistan's provinces, with the rate declining from 69% in 2023 to 45% in 2025.

According to official documents available with Wealth Pakistan, improvements in school participation have been observed across the country, with the national out-of-school children rate falling from 38% in 2023 to 28% in 2025.

According to the report, Balochistan achieved the most significant improvement during the period under review, reducing its out-of-school children rate by 24 percentage points.

All provinces and regions recorded progress in reducing the number of children outside the education system. Punjab's out-of-school children rate declined from 32% in 2023 to 24% in 2025, while Sindh's rate fell from 47% to 36%. Khyber Pakhtunkhwa recorded a decline from 30% to 24% during the same period. The documents also report improvements recorded in Islamabad Capital Territory, Azad Jammu and Kashmir and Gilgit-Baltistan.

The reduction in out-of-school children reflects progress in expanding access to education and increasing school participation. Besides, the literacy rate also reached 63% during the year under review.

With the out-of-school children rate falling from 69% to 45% between 2023 and 2025, Balochistan recorded the largest reduction among Pakistan's provinces, contributing to the nationwide decline in the number of children outside the education system.

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The Government of Balochistan is implementing a Rs1.58 billion school meal programme for primary school students in Quetta as part of its efforts to address nutrition challenges and improve child health outcomes. According to the official documents available with Wealth Pakistan, Balochistan has focused its development investments on maternal and child health, school nutrition, water, sanitation and hygiene (WASH) infrastructure, and deworming as priority intervention areas.

The School Meal Programme for Students of Primary Schools in Quetta is being implemented on a pilot basis with a total project cost of Rs1.579 billion and an allocation of Rs315.9 million during the year. The programme is one of several nutrition-focused initiatives currently under implementation in the province. Balochistan is also implementing the Comprehensive Maternal and Child Health Programme with a total cost of Rs2 billion and an allocation of Rs228.8 million.

A separate project for the provision of WASH facilities in schools is under implementationto provide WASH facilities in schools is under implementation, with a total cost of Rs2 billion and an allocation of Rs200 million. According to the report, a Maternal, Newborn and Child Health (MNCH) facility has been established at Eastern Bypass Quetta with a total project cost of Rs400 million and an allocation of Rs200 million.

These projects form part of Balochistan's broader nutrition-specific interventions aimed at improving health and nutrition outcomes across the province. The provincial government has identified nutrition, maternal and child health, school-based interventions and sanitation infrastructure as key development priorities.

Credit: INP-WealthPk

Azad Jammu and Kashmir (AJK) is expanding its Early Childhood Development (ECD) Programme to 300 middle schools as part of broader efforts to strengthen education, nutrition and child development services. According to the official documents available with Wealth Pakistan, the Government of AJK has directed its development investments towards maternal and child health, early childhood development, livestock development, agricultural diversification and food safety infrastructure.

The Early Childhood Development Programme (Phase-III) in 300 middle schools is under implementation with a total project cost of Rs90.1 million and an allocation of Rs43.6 million during the year. The programme is one of several nutrition-sensitive initiatives currently being implemented in the region. According to the report, AJK is also implementing Maternal, Newborn and Child Health (MNCH) Services with a total cost of Rs397.3 million andat a total cost of Rs397.3 million, with an allocation of Rs59.1 million.

The Sheep and Goat Development Programme is under implementation with a total project cost of Rs60.15 million and an allocation of Rs45.8 million. The Agro-Ecological Based Fruit, Vegetable and Agriculture Development as Enterprise project carries a total cost of Rs64.8 million and an allocation of Rs4.01 million.

The documents further highlight the establishment of three Mobile Food Testing Laboratories at divisional headquarters across AJK with a total project cost of Rs107.2 million and an allocation of Rs18.2 million. These initiatives form part of AJK's broader development strategy focused on child development, nutrition, food safety, agriculture and health services.

Credit: INP-WealthPk

Officials said that under the new monitoring plan, cameras will be installed at marriage halls, marquees, farmhouses and major food chains. Strict action will be taken against those issuing fake receipts or concealing sales.  The Chief Minister said that if the world can move from cash to digital systems, Pakistan can also follow the same path. She emphasized a zero-tolerance policy on tax evasion, adding that both surveillance cameras and digital systems would be used to detect irregularities. 

Maryam Nawaz Sharif directed authorities to submit weekly reports on tax collection and sector-wise mapping. She also instructed the Punjab Revenue Authority to increase enforcement capacity, expand human resources, and adopt modern technology.  She further ordered strengthening the media wing of the Punjab Revenue Authority to improve public awareness about taxation, and said that whenever enforcement actions are taken, the reasons behind them should be clearly communicated to the public through the media.

Credit: Independent News Pakistan (INP)
  

He said that the people of Indian illegally occupied Jammu and Kashmir are also taking guidance from the great message of Imam Hussain (RA) and are continuing their struggle for freedom from Indian occupation and the realization of their right to self-determination.  Safi stated that for the past seven decades, the Kashmiri people have been facing brutal atrocities by Indian forces, including sieges, search operations, arrests and serious violations of human rights.

He added that India has imposed restrictions on Muharram processions and religious gatherings in occupied Jammu and Kashmir and is raiding homes to arrest youth. He emphasized that the message of Karbala is not only for Muslims but serves as a beacon of guidance for all freedom-loving people across the world. The event of Karbala proved that the forces of truth and justice always triumph over falsehood.  Other speakers described the martyrdom of Imam Hussain (RA) as an eternal tale of truth, justice, patience and sacrifice.   

The speakers said the Kashmiri people are continuing their struggle while keeping the principles of Karbala in view, adding that the day is not far when Kashmiris will achieve freedom and success.  At the conclusion, Convener Ghulam Muhammad Safi offered special prayers for the elevation of the ranks of the martyrs of Karbala, martyrs of Kashmir and all martyrs of Islam. He prayed for the Kashmiri people to achieve their goal of freedom.

The seminar was attended by senior Hurriyat leaders including Muhammad Farooq Rahmani, Mahmood Ahmad Saghar, Mir Tahir Masood, Shameem Shawl, Sheikh Abdul Mateen, Sheikh Dawood Khan, Javed Iqbal Butt, Syed Ijaz Rahmani, Haji Muhammad Sultan, Mian Muzaffar, Zahid Safi, Mushtaq Ahmad Butt, Muhammad Ashraf Dar, Muhammad Shafi Dar, Kifayat Hussain Rizvi, Syed Gulshan, Manzoor Ahmad Dar, Abdul Majeed Lone, Zahid Mujtaba, Abdul Majeed Mir, Shabbir Ahmad, Raees Mir, Qazi Imran, Imtiaz Butt, Abdul Rashid Butt, and Imtiaz Wani. 

Credit: Independent News Pakistan (INP)
 

Pakistan and Qatar participated in the dialogue as mediators. “Pakistan made every sincere effort to help bridge the gap between the two sides,” the prime minister said, noting that negotiations, which began on Sunday, continued late into the night and concluded after midnight on Monday. PM said a ceasefire has been established between Iran and the United States, while technical-level discussions will continue over the next two months.

Key issues under discussion include Iran's nuclear programme, ballistic missile capabilities, sanctions relief and the release of frozen assets. He said Pakistan's diplomatic engagement had contributed to easing regional tensions and demonstrated the country's constructive role in promoting peace and stability. "If the ongoing negotiations succeed, the memorandum of understanding could evolve into a permanent and long-lasting agreement within 60 days," he said. 

The prime minister congratulated the nation, parliament and opposition parties, describing Pakistan's contribution to the negotiations as a major diplomatic achievement that had received international recognition. Shehbaz also announced that Iranian President Masoud Pezeshkian was expected to arrive in Pakistan later on Tuesday at Islamabad's invitation.

The visit will include discussions on bilateral relations, economic cooperation, regional peace and other issues of mutual interest. He reaffirmed Pakistan's commitment to maintaining strong and friendly relations with all neighbouring countries and supporting efforts aimed at regional stability and prosperity. 

Credit: Independent News Pakistan (INP)

The court ordered the vessel to pay $5.3 million in restitution to the Nigerian government, while the three principal officers were directed to pay $100,000 each and the remaining crew $50,000 each, along with additional fines.  This latest conviction of Indian nationals abroad once again highlights the deep involvement of Indian crews and commercial vessels in international drug trafficking networks.

While the Indian establishment frequently tries to portray Pakistan as the source of all problems, the reality is that India itself has emerged as a significant transit and facilitation hub for drugs, including cocaine, heroin, methamphetamine, and cannabis.  India’s own Narcotics Control Bureau seized over 1,33,965 kg of narcotic drugs in 2025 alone, valued at nearly Rs 2,000 crore. Major seizures, including the record heroin haul at Mundra Port, have repeatedly exposed serious loopholes in India’s port security and maritime oversight. 

Credit: Independent News Pakistan (INP)

The embassy said it is coordinating with Qatari authorities for early repatriation of the bodies and extending all possible assistance to the affected families. Authorities completed search operations at the site and said no gas leak or environmental hazard was detected.  Ras Laffan, one of the world’s largest LNG and petrochemical hubs, is now under investigation to determine the exact cause. The incident is among the deadliest involving Indians in the Gulf in recent years.  

It was worth mentioning here that eight Indian Navy officers, who had been detained in Qatar on spying charges since 2022, remain a point of concern for New Delhi. The naval personnel were initially sentenced to death in October 2023, but the Court of Appeal later commuted their sentences to jail terms ranging from 3 to 25 years in December 2023.  The cases underscored the complexities of India-Qatar ties even as both nations cooperate closely on energy security and worker welfare in the Gulf.  

Credit: Independent News Pakistan (INP)

ہمارا فوکس ٹیم پر ہے، ہم مثبت سوچ کے ساتھ میدان میں اترنا چاہتے ہیں۔ ٹیم پہلے سے زیادہ متحد ہے۔انہوں نے اگرچہ کسی کھلاڑی کا نام نہیں لیا، لیکن تنقید کو غیر منصفانہ قرار دیتے ہوئے کہا کہ بعض باتیں انصاف کے خلاف ہیں۔میچ کے بعد کرسٹیانو رونالڈو نے میڈیا سے بات نہیں کی، تاہم انہوں نے سوشل میڈیا پر دو پوسٹس کیں۔ پہلی پوسٹ میں انہوں نے لکھا تھا کہ یہ وہ آغاز نہیں تھا جو ہم چاہتے تھے، لیکن یہ ابھی ختم نہیں ہوا۔ اگلے میچ پر توجہ دیں۔ ایک اور پوسٹ میں انہوں نے ٹریننگ کی تصاویر شیئر کرتے ہوئے لکھا کہ مشن پر فوکس ہے۔رونالڈو اس ٹورنامنٹ میں ارجنٹائن کے لیونل میسی کے ساتھ ریکارڈ چھ ورلڈ کپ کھیلنے والے کھلاڑی بن گئے ہیں۔ وہ اس بار بھی کوشش کریں گے کہ چھ مختلف ورلڈ کپ میں گول کرنے والے پہلے کھلاڑی بن جائیں۔اگرچہ پہلے میچ میں ان کی کارکردگی کمزور رہی اور صرف 25 ٹچز ملے، اس کے باوجود ہیڈ کوچ روبرٹو مارٹینز کا کہنا ہے کہ وہ اب بھی ٹیم کے لیے اہم ہیں۔ ان کا مزید کہنا تھا کہ رونالڈو بہترین کھلاڑی ہیں جو فائنل تھرڈ میں موقع بنانے اور گول کرنے کی صلاحیت رکھتے ہیں۔ گزشتہ 32 میچز کے اعداد و شمار بھی یہی بتاتے ہیں کہ وہ جگہیں بنا کر ٹیم کو فائدہ دیتے ہیں۔

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

ناروے کے ایرلنگ ہالینڈ نے بھی شاندار کارکردگی دکھاتے ہوئے سینیگال کے خلاف 2 گول کیے اور اپنی ٹیم کو اگلے مرحلے تک پہنچایا۔ وہ اپنے پہلے ہی ورلڈ کپ میں مسلسل دو میچز میں 2، 2 گول کرنے والے چند کھلاڑیوں میں شامل ہو گئے ہیں۔ماہرین کے مطابق یہ تینوں اسٹارز نہ صرف گولڈن بوٹ بلکہ ورلڈ کپ کے مجموعی گولز کے ریکارڈ کو بھی چیلنج کر رہے ہیں۔ اس کے ساتھ انگلینڈ کے ہیری کین بھی اس دوڑ میں شامل ہو سکتے ہیں، جنہوں نے پہلے میچ میں 2 گول کیے تھے۔اس ٹورنامنٹ میں کئی ریکارڈز ٹوٹ رہے ہیں۔ ایمباپے فرانس کے لیے سب سے زیادہ ورلڈ کپ گول کرنے والے کھلاڑی بن چکے ہیں، جبکہ ہالینڈ محض 2 میچز کے بعد ناروے کے ٹاپ اسکورر بن گئے ہیں۔ ہیری کین نے بھی انگلینڈ کے لیے گیری لائنکر کے ریکارڈ کی برابری کر لی ہے۔تجزیہ کاروں کے مطابق 48 ٹیموں کے نئے فارمیٹ اور اضافی میچز کی وجہ سے گولز کی تعداد میں اضافہ ہوا ہے، جس سے ٹاپ اسٹرائیکرز کو مزید مواقع مل رہے ہیں۔گولڈن بوٹ کی یہ دوڑ اب اس سوال پر آ کر رک گئی ہے کہ آیا میسی اپنی برتری برقرار رکھ پائیں گے یا ایمباپے اور ہالینڈ انہیں پیچھے چھوڑ دیں گے۔

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی

فرانس کی ٹیم کا پلہ بھاری رہا۔صرف 14ویں منٹ میں ہی اسٹار کھلاڑی ایمباپے کو گو ل کرنے کا موقع مل گیا جو انہوں نے ضائع نہیں کیا۔ عراق کی ٹیم بھی گول برابر کرنے کی کوشش کرتی رہی لیکن کامیابی نہیں مل سکی۔پہلے ہاف کے دوران ہی بارش ہوئی ، جب ہاف ٹائم ہوا تو بارش مزید تیز ہوگئی اور موسم خراب ہوگیا جس کے سبب دوسرا ہاف شروع ہونے میں 2 گھنٹے 15منٹ لگے۔کھیل شروع ہونے پر ایمباپے ایک مرتبہ پھر ایکشن میں نظر آئے اور 54ویں منٹ میں ایک اور گول کردیا، یہ ورلڈ کپ میں ان کا مجموعی طور پر 16واں گول تھا ، یوں وہ 16 گول کے ساتھ جرمنی کے میرو سلاو کلوزے کے برابر آگئے ہیں۔فرانس کی جانب سے تیسر ا گول عثمان ڈیمیبلے نے 66 ویں منٹ میں بنایا۔یوں فرانس نے 0-3 سے کامیابی حاصل کرکے ناک آٹ مرحلے میں جگہ بنالی ۔

کریڈٹ: انڈیپنڈنٹ نیوز پاکستان-آئی این پی