Prime Minister Shehbaz Sharif launches Pakistan’s National Solar Energy Plan to reduce power costs and promote clean energy.
Prime Minister Shehbaz Sharif announced the launch of Pakistan’s National Solar Energy Plan 2025, aimed at cutting electricity costs and reducing dependency on imported fuels.
The project includes the installation of 10,000 megawatts of solar power across major cities, replacing expensive thermal generation units. The government will provide subsidies for home-based solar panels and net-metering systems.
Shehbaz Sharif said, “This is Pakistan’s step toward a green and sustainable energy future.” The plan also supports local solar equipment manufacturing and foreign investment partnerships.
Energy experts believe the project could save billions in fuel imports annually while reducing load-shedding. Implementation will begin in early 2026 under the supervision of the Ministry of Energy.
ISLAMABAD: The Price Control Department has attributed the recent surge in tomato prices to temporary supply disruptions caused by adverse weather and logistical challenges.
A department spokesperson said that heavy rains in Khyber Pakhtunkhwa had damaged tomato crops, creating a temporary shortage in the market.
The spokesperson added that delays in tomato imports from Afghanistan and Iran further strained supply, resulting in short-term price increases.
“The recent hike in tomato prices is primarily due to seasonal changes, rainfall, and transport constraints,” the statement said.
According to the department, the price surge is temporary, and rates are expected to decline next week as supply normalizes. The spokesperson also noted that Sindh’s tomato harvest in November and Punjab’s crop in April–May will ensure ample availability in the coming months.
Sindh’s new 1.8% infrastructure cess on oil imports may push fuel prices higher by Rs 3 per litre, sparking economic concerns nationwide.
The Sindh government’s decision to impose a 1.8% infrastructure cess on oil imports has raised alarm among economists and transport associations, who warn of potential fuel price hikes of up to Rs 3 per litre across Pakistan.
The cess, announced earlier this week, aims to generate funds for infrastructure maintenance and development within Sindh. However, oil marketing companies say the added cost will likely be passed on to consumers, worsening inflation at a time when the rupee remains under pressure.
According to industry sources, Pakistan’s current account deficit has widened again, and any additional tax burden could further slow industrial output. Transport unions have already threatened protests if the increase is not withdrawn or adjusted.
The Petroleum Division is in talks with provincial authorities to reconsider the levy or develop a shared revenue mechanism that would not burden end-users. Sindh officials, however, argue that the cess is “necessary to maintain critical logistics infrastructure used by the oil industry.”
Economists suggest that such regional levies could complicate federal-provincial fiscal coordination. With global oil prices fluctuating, even minor tax changes can have cascading effects on transportation, manufacturing, and household budgets.
The federal government has yet to issue an official statement on whether it will intervene or offer a subsidy to offset the increase.
A major Amazon Web Services outage disrupted websites, apps, and streaming platforms worldwide, exposing internet infrastructure vulnerabilities.
A massive outage affecting Amazon Web Services (AWS) caused widespread disruption across major global websites, financial apps, and media streaming services on Monday. The incident impacted platforms such as Netflix, Spotify, Slack, and several government portals that rely on AWS for cloud hosting.
Amazon confirmed that an internal network configuration error caused the downtime, affecting multiple regions including North America, Europe, and parts of Asia. Services began gradually returning online after several hours, though some users continued to report issues.
Cybersecurity experts said the incident highlights the risks of over-reliance on centralized cloud infrastructure. AWS powers nearly one-third of the world’s cloud-based applications, making such disruptions critical for business continuity.
In a statement, Amazon apologized for the inconvenience and pledged to “strengthen its backup and recovery systems.” Industry observers say the outage may prompt regulators to examine the resilience of cloud service providers.
Stock markets showed limited reaction, but several companies reported temporary operational losses. The event reignited discussions about decentralization and the need for multi-cloud strategies in the digital economy.
KARACHI: In a major upward movement, gold prices across Pakistan hit new all-time highs on Friday, reflecting strong gains in both local and global markets.
According to the All Pakistan Gems and Jewellers Association, the price of per tola gold soared by Rs14,100, reaching an all-time high of Rs456,900.
Similarly, the rate of 10 grams of gold increased by Rs12, 089, pushing it to Rs391,718.
In the international bullion market, gold prices surged by $141, touching a record high of $4,358 per ounce.
Meanwhile, the price of silver rose by Rs167 per tola, settling at Rs5,504.
Gold prices in Pakistan have risen sharply by Rs54,800 per tola over the past month following the suspension of gold imports, according to official data.
Documents from the Pakistan Bureau of Statistics (PBS) indicate a likelihood of further price hikes, as gold imports have remained at zero for the fourth consecutive month.
The report revealed that the ongoing import ban has driven up gold prices by nearly Rs86,000 per tola in just four months. In June 2025, the per tola price stood at Rs356,900 in local bullion markets.
Official data also showed that gold imports fell by 100% year-on-year in September, with no gold imported during the first quarter of the current fiscal year.
The documents stated that not a single tola of gold was imported in September, whereas the last import occurred in May 2025, amounting to 9 kilograms. During the same month last year, Pakistan had imported 55 kilograms of gold worth over $4.6 million.
The report further noted that February 2025 recorded the highest gold imports of the year, with 43 kilograms valued at more than $4.06 million.
KARACHI: The Federal Board of Revenue (FBR) has temporarily halted Afghan Transit Trade operations from Karachi ports, citing capacity constraints at customs stations in Quetta and Peshawar.
The decision was taken during a key meeting held at the Directorate of Transit Trade Headquarters, Customs House Karachi, chaired by the Director General of Afghan Transit Trade. Directors of Afghan Transit Quetta and Peshawar attended the session via Zoom.
Following the meeting, the FBR issued Customs General Order No. 98/2025, stating that the movement of Afghan Transit Trade consignments has been suspended indefinitely due to severe congestion and lack of storage capacity at the Quetta and Peshawar customs stations, where no additional space is available to accommodate containers.
The order directed that all terminals unload Afghan Transit containers already placed on vehicles, cancel gate passes, and halt all transportation activities related to Afghan Transit Trade until further instructions are issued.
As a result of this directive, terminals at Karachi Port and Port Qasim have suspended the clearance of Afghan Transit consignments.
According to customs sources, long queues of Transit Procedure (TP) containers have formed at the South Asia Pakistan Terminals (SAPT), with hundreds of containers already loaded on trucks and many more stranded en route to Quetta and Peshawar, where drivers are waiting for the border to reopen.
ISLAMABAD: The Petroleum product prices in Pakistan are expected to decline from October 16, offering slight relief to inflation-hit consumers.
According to sources in the petroleum sector, the price of petrol is likely to be reduced by Rs6.10 per litre.
Industry estimates submitted to the Oil and Gas Regulatory Authority (OGRA) also indicate a possible decrease of 97 paisas per litre in the price of high-speed diesel.
Officials believe the expected price revision will provide marginal relief to the public amid persistent inflationary pressures.
ISLAMABAD: In a major development on the economic front, Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement under the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) reviews.
According to an IMF statement, Pakistan will receive $1.2 billion following approval by the Fund’s Executive Board. The IMF noted that Pakistan’s IMF-supported economic reform program continues to make steady progress toward macroeconomic stability and restoring market confidence.
The statement highlighted that for the first time in 14 years, Pakistan’s current account recorded a surplus in fiscal year 2025, while fiscal consolidation efforts exceeded program targets. Inflation has moderated, and foreign exchange reserves have improved. The Fund projected Pakistan’s economic growth between 3.25% and 3.5% for the fiscal year.
The IMF also praised Pakistan’s climate resilience and reform efforts, acknowledging the severe impact of recent floods that affected millions, caused over a thousand deaths, and inflicted widespread damage to crops and housing. It emphasized the need for continued implementation of comprehensive climate and structural reforms to mitigate future risks.
The Fund further acknowledged the government’s commitment to advancing reforms in the energy sector, improving fiscal discipline, and pursuing structural adjustments for long-term stability.
Earlier, Finance Minister Senator Muhammad Aurangzeb said that Pakistan’s talks with the IMF mission had been “constructive and forward-looking.” In an interview with an international news agency, he revealed that Pakistan plans to issue its first Green Panda Bond before the end of this year.
The minister also confirmed progress on the privatization of Pakistan International Airlines (PIA) and three power distribution companies, noting that five investor groups have expressed interest in acquiring the national carrier. He added that the resumption of flights to Europe and the UK has further enhanced PIA’s investment appeal.
Karachi – September 30, 2025: Pakistan’s leading textile manufacturer, Gul Ahmed Textile Mills Limited (GATM), has announced the closure of its export apparel business after years of financial strain and mounting operational challenges.
In a notice to the Pakistan Stock Exchange (PSX), the company stated that its board of directors approved the decision during a meeting held on September 29, 2025. The move comes after a strategic review that highlighted continued losses in the export apparel segment.
According to the company, the export unit has been struggling with rising input costs, especially nominated fabrics, along with higher energy tariffs, policy-driven tax burdens, and a volatile exchange rate that has reduced competitiveness in global markets. Intense competition from regional textile exporters has further squeezed margins.
By shutting down this business line, Gul Ahmed expects to reduce borrowing levels, improve cash flows, and strengthen its focus on profitable areas such as home textiles, spinning, and weaving, which remain operational.
Gul Ahmed, a household name in Pakistan, traces its roots back to the early 1900s as a textile trader and began manufacturing under GATM in 1953. Listed on the PSX since 1955, the company also runs one of the country’s largest retail networks, with more than 40 outlets offering fashion, apparel, and home accessories.
The closure of its export apparel division marks a major restructuring step for the textile giant as it navigates Pakistan’s challenging economic and industrial landscape.
Pakistan’s Ministry of Finance commenced high-level discussions with the International Monetary Fund (IMF) in Islamabad to review the country’s fiscal performance and outline the government’s economic roadmap. The meetings, chaired by Finance Minister Muhammad Aurangzeb, brought together key officials including Finance Secretary Imdadullah Bosal, State Bank of Pakistan (SBP) Governor Jameel Ahmed, and Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial.
The discussions form part of a broader review under Pakistan’s $7 billion Extended Fund Facility (EFF) and an additional $1.4 billion loan approved earlier this year to support climate resilience initiatives. The IMF delegation is tasked with assessing Pakistan’s progress on key fiscal targets, including revenue generation, governance reforms, and anti-corruption measures. Officials from the Ministry of Finance emphasized the need for transparency and detailed reporting to ensure that the ongoing economic programs remain on track.
“The talks are essential for both sides to review Pakistan’s fiscal health and evaluate progress under the EFF program,” said a senior official in the Ministry of Finance. “This engagement will help us align our policies with IMF guidelines while ensuring the government’s priorities for economic growth and fiscal stability are maintained.”
Key areas of focus during the meetings include strengthening the tax collection framework, improving governance across federal institutions, and monitoring measures related to anti-money laundering and anti-corruption. The IMF delegation has also requested detailed updates on the implementation of structural reforms, particularly those designed to enhance fiscal discipline and ensure efficient utilization of financial resources.
Experts say these discussions are crucial not only for the continuation of IMF financial support but also for Pakistan’s broader economic stability. “The IMF reviews provide both oversight and technical guidance that can help Pakistan address revenue shortfalls, improve fiscal management, and attract foreign investment,” said an economic analyst based in Islamabad. “These talks will set the tone for future disbursements and the government’s ability to manage debt and budgetary priorities.”
The outcome of the IMF talks will be pivotal in determining the release of subsequent tranches under the bailout program. These funds are vital for Pakistan as the country navigates economic challenges, including fiscal deficits, inflationary pressures, and external debt obligations. Analysts note that timely implementation of agreed measures can bolster investor confidence and strengthen Pakistan’s macroeconomic position.
Apart from fiscal reforms, the IMF discussions are also expected to cover climate-related financing, following the $1.4 billion loan approved to support Pakistan’s climate resilience programs. The focus will be on ensuring that financial flows are efficiently utilized for projects addressing climate risks, sustainable development, and disaster management.
While the government has expressed optimism regarding the discussions, the IMF has reiterated the importance of strict compliance with agreed reforms, regular monitoring, and transparent reporting mechanisms. Both sides have committed to continued dialogue to ensure that fiscal targets are met and economic stability is maintained.
With these talks underway, Pakistan aims to reinforce fiscal discipline, enhance governance structures, and secure critical funding necessary for sustaining economic growth. The successful conclusion of the discussions is expected to pave the way for continued financial support from the IMF and strengthen Pakistan’s prospects for macroeconomic stability in the coming years.
