Browse older Business stories through permanent, crawlable archive pages.
The FBR has sealed an alleged illegal cigarette factory in Karachi's Malir area and seized machinery, tobacco and finished goods valued at more than Rs200 million. Officials estimate the facility could have caused around Rs1.2 billion in annual revenue losses, while criminal proceedings and further investigations are under way.
Pakistan and Saudi Arabia have agreed to work towards raising Pakistani agricultural and food exports to $3 billion over the next two years, with rice, red meat, fruits, green fodder and agricultural technology identified as priority sectors. The two sides plan to expand business links, investment cooperation and certification arrangements while advancing food-security partnerships.
The government has apologised for temporary night-time loadshedding after a delayed RLNG cargo contributed to a 3,600MW generation shortfall, compounded by lower output from Mangla Dam. The Power Division says outages will be reduced once delayed gas supplies arrive and has urged consumers to limit peak-hour electricity use.
Pakistan's Power Division has rejected claims that the 4,500MW electricity-generation component of Diamer-Bhasha Dam was cancelled, saying it remains included in existing and future IGCEP planning. The clarification follows a report suggesting authorities could prioritise water storage while postponing power and transmission infrastructure.
Pakistan has reduced petrol by Rs0.58 per litre to Rs342.02 and high-speed diesel by Rs0.17 to Rs371.44, with the new rates effective from August 29 through August 31. The modest cuts come as the government uses a more frequent pricing mechanism amid continued volatility in international oil markets.
Pakistan's five major oil refineries are preparing to sign upgradation agreements expected to unlock around $6 billion in investment and enable greater domestic production of Euro 5-compliant fuels. The programme is aimed at reducing dependence on imported petrol and diesel while strengthening the country's energy security and supply resilience.
Pakistan has reduced petrol by Rs0.50 per litre to Rs342.60 and high-speed diesel by Rs0.19 to Rs371.61, with the new rates effective August 28. The adjustment was made under the government's revised petroleum pricing mechanism as authorities continue responding to volatility in international energy markets.
National Refinery Limited returned to profitability in FY26 with earnings of Rs6.16 billion, reversing a Rs14.87 billion loss a year earlier as revenue and refining margins improved sharply. Net revenue rose to Rs440.84 billion, while earnings per share recovered to Rs77.09.
A Saudi business delegation led by Prince Mansour bin Mohammad Al Saud has held talks with Pakistan’s SIFC and stakeholders to explore opportunities in energy, privatisation, industry, communications and highways. The engagement supports efforts by Islamabad and Riyadh to convert their close bilateral relationship into a broader strategic economic partnership backed by investment and business agreements.
Prime Minister Shehbaz Sharif has formed a high-level committee to seek a negotiated resolution of the stalled Iran-Pakistan gas pipeline project as Pakistan faces potential liabilities from arbitration in Paris. The panel will assess legal risks, financial exposure and the country's future energy needs before recommending a way forward.
The State Bank of Pakistan has proposed discontinuing the Rs10 banknote when the country's redesigned currency series is introduced, citing rising production costs. The denomination would continue through the existing Rs10 coin, while current paper notes are not being withdrawn immediately.
Finance Minister Muhammad Aurangzeb says Pakistan is not seeking additional Chinese financing as the government diversifies its external funding strategy and works toward renewed access to international capital markets. Islamabad is simultaneously pursuing a proposed $10 billion US exchange stabilisation facility intended to support foreign-exchange confidence and encourage private investment.
