Pakistan Business & Finance News

Pakistan moves to improve port efficiency through maritime reforms

August 26, 2026 by Business Desk

ISLAMABAD: The Prime Minister’s Task Force on Maritime Reforms is taking practical steps to improve the performance and efficiency of Pakistan’s ports, with a focus on modern facilities, administrative reforms and faster cargo handling.

The reforms are aimed at boosting trade activity by upgrading the port system and introducing more effective management measures. A specialized training institute meeting international standards is also being planned to develop skilled workers for the maritime and port sectors.

An enhanced monitoring system will be established for annual and surprise inspections of ports, off-dock terminals, customs stations and other trade-related facilities. Authorities also plan to upgrade inspection centers, introduce 24-hour operations and provide modern scanning equipment under customs rules.

The Prime Minister’s Task Force on Maritime Reforms, along with the National Logistics Cell (NLC) and other relevant institutions, is coordinating efforts to improve the port system. Proposals include modern equipment, CCTV surveillance and enhanced security to make cargo inspection faster and more transparent.

Authorities are also working on measures including portable weighing scales, regular calibration and expansion of high-value cargo areas. Improved facilities and better operational scheduling are expected to address bottlenecks and increase cargo-handling efficiency.

Officials said upgrading port infrastructure and implementing administrative reforms would strengthen Pakistan’s trade capacity and improve its competitiveness in international markets.

Pakistan shifted from banning virtual assets to regulated oversight, PVARA Chairman says

August 26, 2026 by Business Desk

TASHKENT: Pakistan has shifted from banning virtual assets toward a framework of regulated oversight, Pakistan Virtual Assets Regulatory Authority Chairman Bilal bin Saqib said.

Speaking at the Silk Road Finance and Technology Forum, bin Saqib said governments need to develop regulatory and institutional capacity that can keep pace with rapidly evolving technology.

He said Pakistan has significant opportunities to develop its digital financial infrastructure and that an effective regulatory framework for virtual assets could create new investment opportunities.

Bin Saqib said restrictions introduced in 2018 did not eliminate virtual asset activity in Pakistan. Instead, he said, such activity moved to offshore platforms and peer-to-peer channels, highlighting the need for regulation and oversight.

Under the Virtual Assets Act 2026, PVARA was established as Pakistan’s regulatory body for the sector. Bin Saqib said State Bank Circular 10 allows licensed virtual asset service providers to maintain bank accounts.

He added that PVARA has implemented licensing regulations for virtual asset service providers and activated a licensing portal.

Pakistan is also exploring tokenization to modernize access to sovereign debt, with an initial focus on tokenizing government securities, bin Saqib said.

Moody’s upgrades Pakistan’s sovereign credit rating to B3

August 24, 2026 by Business Desk

ISLAMABAD: Global ratings agency Moody’s has upgraded Pakistan’s sovereign credit rating, raising it from Caa1 to B3, citing improvements in governance, stronger foreign exchange reserves and lower domestic borrowing costs.

Moody’s said continued macroeconomic stabilization was also among the factors behind the upgrade.

The agency said improvements in these areas were expected to strengthen Pakistan’s external position and improve fiscal indicators.

The latest decision marks a two-notch improvement in Pakistan’s Moody’s rating over roughly 12 months.

Prime Minister Shehbaz Sharif welcomed the upgrade, saying it reflected growing international confidence in the government’s economic policies and reform agenda.

Sharif praised the efforts of Deputy Prime Minister and Field Marshal Asim Munir in supporting the economy. He said the government had taken effective measures to stabilize the economy and improve the country’s external sector.

The prime minister said continued government efforts and reforms had increased the confidence of international institutions in Pakistan, adding that improved ratings from global agencies were clear evidence of that confidence.

Gold price rises by Rs 5,700 per tola in Pakistan

August 22, 2026 by Business Desk

ISLAMABAD: The price of gold in Pakistan increased by Rs. 5,700 per tola on Saturday, taking the price to Rs. 482,936, according to the All Pakistan Gems and Jewellers Association.

The latest increase means gold prices have risen by more than Rs. 10,000 per tola over the past two days. The price had increased by Rs. 5,200 on Friday.

The price of 10 grams of gold also rose by Rs. 4,972 to Rs. 414,039, according to the association.

Miftah Ismail questions govt’s sugar import and export strategy

August 21, 2026 by Business Desk

ISLAMABAD: Awam Pakistan Party leader Miftah Ismail has strongly criticized the government’s sugar policy, alleging that sugar was first exported to create an artificial shortage, then imported at a higher cost and is now being re-exported.

In a statement on social media, Ismail said the government had allowed the export of 750,000 metric tons of sugar last year, which he claimed contributed to a Rs50 per kilogram increase in sugar prices.

He said the government subsequently directed the Trading Corporation of Pakistan (TCP) to import 300,000 tons of sugar. According to Ismail, TCP imported the commodity at $40 per ton above the prevailing price in the Pakistani market.

Ismail alleged that the government then pressured industrialists, chain stores and wholesalers to sell the imported sugar at prices higher than the market rate.

He said TCP was unable to sell all of the sugar held in its stocks and was now attempting to export the imported commodity back to the international market.

“This entire loss is ultimately being borne by the people of Pakistan,” Ismail said.

Pakistan considers income tax on farmers to meet IMF targets

August 20, 2026 by Business Desk

ISLAMABAD: The Pakistani government is considering imposing income tax on farmers as part of efforts to meet International Monetary Fund requirements and achieve targets for agricultural income tax collection, according to government sources.

Sources said the federal government has begun preparing an alternative strategy in consultation with the provinces to ensure that agreed agricultural tax collection targets are met.

The move comes as Pakistan seeks to fulfill commitments under its IMF program and improve revenue collection from the agricultural sector.

According to sources, the government is expected to give provincial authorities until Sept. 30, 2026, to meet targets related to agricultural income tax collection and the filing of tax returns.

The federal and provincial governments are expected to coordinate on the implementation of the agricultural income tax framework as Islamabad works to satisfy the IMF’s revenue-related requirements.

Officials have not yet disclosed details of the proposed tax structure or how the potential measures would affect farmers across different income and agricultural categories.

Pakistan govt decides to cut diesel price by up to Rs. 32 per liter

August 19, 2026 by Business Desk

ISLAMABAD: Federal government has decided to significantly reduce the price of diesel, with refineries agreeing to cut the per-liter price by Rs. 30 to Rs. 32, Petroleum Minister Ali Pervaiz Malik said.

Malik said the government understands the difficulties and hardships being faced by the public and is making every effort to provide immediate relief wherever possible.

He said the decision to subsidize petroleum products was also part of the government’s efforts to ease the burden on consumers.

“The difficult period will pass,” Malik said, adding that the government would make every possible effort to protect the public from the impact of rising fuel prices.

The petroleum minister said the escalation in the intensity of the war had pushed up prices of petroleum products and caused diesel supply problems in several countries.

He said refineries had decided to reduce the price of diesel by more than Rs. 30 to Rs. 32 per liter, providing significant relief to consumers.

Oil prices hit three-week high for fourth straight day

August 19, 2026 by Business Desk

WASHINGTON: Global crude oil prices rose to three-week highs for a fourth consecutive day Wednesday as uncertainty over a ceasefire between the United States and Iran and disruptions to oil shipments through the Strait of Hormuz continued to weigh on markets.

According to Reuters, Brent crude futures for October delivery rose 45 cents, or 0.49%, to $91.47 a barrel. U.S. West Texas Intermediate crude also gained 45 cents, or 0.53%, to $85.39 a barrel.

Later in the session, Brent climbed further to $91.56 a barrel, while WTI rose to about $85.53.

Investors remained focused on when commercial shipping through the Strait of Hormuz would return to normal. Reuters reported that shipping activity through the strategic waterway remained well below normal levels, with several shipowners avoiding the route because of security risks.

The disruption has also created difficulties for Russia, while rising gasoline prices are adding to political pressure on President Donald Trump ahead of the U.S. midterm elections.

Trump has repeatedly accused oil companies of making excessive profits amid rising gasoline prices and has threatened to impose additional taxes on them. Oil companies have rejected the allegations.

The Strait of Hormuz is one of the world’s most important oil transit routes, carrying more than 20% of global oil and gas supplies. Iran has closed the waterway in response to U.S. and Israeli attacks, further increasing uncertainty in global energy markets.

Oil prices hit highest level since July as Strait of Hormuz attacks

August 18, 2026 by Business Desk

LONDON: Global oil prices climbed to their highest levels since July on Tuesday as attacks on vessels near the Strait of Hormuz and a lack of progress in U.S.-Iran negotiations heightened concerns over disruptions to crude supplies.

Brent crude rose above $91 a barrel, while U.S. West Texas Intermediate crude approached $85 a barrel. Reuters reported that Brent reached $91.07 a barrel, marking its third consecutive session of gains, while WTI traded around $84.99. Other market reports put Brent as high as $91.60 a barrel.

The latest price increase followed a report by the United Kingdom Maritime Trade Operations that a commercial vessel was struck by a projectile of unknown origin while departing the Strait of Hormuz.

The incident reportedly damaged the vessel’s engine room. One crew member was reported killed or injured, while other crew members were rescued by the Omani coast guard.

No group has claimed responsibility for the incident. Iran’s Revolutionary Guard and Yemen’s Houthi movement have neither confirmed nor denied involvement.

US-Iran tensions fuel oil market concerns

Oil prices have also been supported by uncertainty surrounding a 60-day ceasefire between the United States and Iran and the lack of progress toward extending the truce or resuming negotiations.

U.S. President Donald Trump has rejected an extension of the ceasefire, while Iran has indicated it could adopt a more aggressive military posture if negotiations fail.

Iran has said the Strait of Hormuz will not be fully reopened until the United States meets the terms of an agreement, while Washington continues to maintain pressure on Tehran.

The developments have disrupted the movement of petroleum products through the Strait of Hormuz and the Bab el-Mandeb, raising concerns over fuel and gas supplies and pushing prices higher.

Saudi Arabia seeks alternative oil routes

Saudi Arabia has resumed some crude oil loading operations from inside the Strait of Hormuz using ship-to-ship transfers near Fujairah for Asian buyers, Reuters reported.

Between Aug. 12 and Aug. 16, about 6 million barrels of Saudi crude were loaded onto three large oil tankers through the alternative arrangement, according to the report. However, the method does not fully replace normal shipping routes.

Meanwhile, several major shipping operators have begun avoiding the Strait of Hormuz and Bab el-Mandeb because of heightened security risks.

Chinese state-owned shipping companies have also reduced operations through key regional waterways and shifted some vessels toward alternative routes near Fujairah and Oman.

Federal govt debt rises by more than Rs18.8 trillion in 28 months

August 17, 2026 by Business Desk

ISLAMABAD: Federal government debt increased by more than Rs18.8 trillion during the first 28 months of the period from March 2024 through June 2026, according to State Bank of Pakistan data.

State Bank documents showed that the government’s domestic debt rose by Rs16.766 trillion during the period, while external debt increased by Rs2.066 trillion.

The overall increase translates into an average rise of more than Rs22.4 billion per day, according to the documents.

The federal government’s total debt stood at Rs64.810 trillion by February 2024, the final month of the caretaker government. After the increase over the following 28 months, the debt reached Rs83.642 trillion by June 2026.

According to the State Bank, the central government’s domestic debt increased from Rs42.675 trillion in February 2024 to Rs59.441 trillion by June 2026.

Meanwhile, the federal government’s external debt rose from Rs22.134 trillion to Rs24.201 trillion during the same period.