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NEPRA Grants Pakistan's First Private Dual Electricity Distribution and Supply Licence to DHA City
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NEPRA Grants Pakistan’s First Private Dual Electricity Distribution and Supply Licence to DHA City

In a landmark decision aimed at advancing Pakistan’s power sector reforms, the National Electric Power Regulatory Authority (Nepra) has granted DHA Energy Supply Company (Desco) the country’s first-ever dual licences to operate as both an electricity distribution company and a Supplier of Last Resort (SoLR). The licences, issued on Friday, are valid for 21 years and represent the first time a privately owned company has been authorised to perform both functions under Pakistan’s evolving Competitive Trading Bilateral Contract Market (CTBCM) framework. The approval marks another step towards opening Pakistan’s electricity market to greater private sector participation following regulatory reforms that ended the exclusive control previously enjoyed by traditional distribution utilities. Desco to Serve DHA City Karachi Under the licences, Desco will initially provide electricity distribution and supplier services exclusively within DHA City Karachi (DHACK), a large residential development located approximately 56 kilometres from Karachi on the M-9 Motorway in Malir district. According to its application submitted to NEPRA, DHA City is currently not connected directly to either the national transmission grid or K-Electric’s distribution infrastructure. To ensure electricity supply for the project, Desco informed the regulator that it had reached an agreement with Lucky Cement Limited to procure six megawatts (MW) of electricity. The power will be delivered to consumers within DHA City through K-Electric’s network until further infrastructure is developed. The electricity will be supplied to residential, commercial and other consumers located within the boundaries of DHA City Karachi. NEPRA Rejects Objections by KE, CPPA and Gepco The application faced opposition from several major power sector entities, including the Central Power Purchasing Agency (CPPA), K-Electric (KE) and the Gujranwala Electric Supply Company (Gepco). The objecting parties questioned Desco’s financial position, technical capability and lack of operational experience, arguing that the company did not yet have a proven track record in electricity distribution. However, NEPRA rejected those objections after reviewing the application. The regulator concluded that Desco had established sufficient grounds to qualify for both licences and approved them strictly for operations within DHA City Karachi. The authority also clarified that Desco would be permitted to charge consumers only those tariffs, system-use charges and connection fees approved by NEPRA. Decision Supports Power Sector Liberalisation In its detailed ruling, NEPRA said the amendments to the NEPRA Act were specifically designed to liberalise Pakistan’s electricity sector by encouraging competition and reducing exclusive control over different segments of the power supply chain. The regulator noted that recent reforms include: Liberalisation of electricity generation through de-licensing.Allowing provincial grid companies to participate in transmission.Separating electricity supply from the distribution (wire) business.Ending exclusive distribution rights previously held by electricity utilities. NEPRA said these reforms were intended to facilitate a competitive electricity market under the CTBCM model and encourage greater private investment across the sector. The approval of Desco’s licences is viewed as one of the first practical implementations of these market reforms. Financial Concerns Addressed Responding to concerns regarding Desco’s financial capacity, NEPRA acknowledged that the company was newly established and had not yet commenced commercial operations. However, the regulator said this should not prevent the company from receiving licences. NEPRA pointed out that Desco’s parent organisation, DHA Karachi, possesses strong financial credentials and would be able to provide financial support whenever required. The authority also observed that it is common corporate practice in Pakistan for companies to begin with the minimum paid-up capital required by the Securities and Exchange Commission of Pakistan (SECP) before increasing capital once commercial operations begin. According to the regulator, Desco’s financial position is expected to strengthen after the licences become operational and revenue generation begins. Licence Comes with Regulatory Obligations NEPRA emphasised that despite approving the licences, Desco would remain subject to all regulatory standards governing electricity distribution and supply. The authority said additional provisions would be incorporated into the standard terms and conditions of the distribution licence, making the company legally responsible for complying with technical, operational and consumer service standards applicable to licensed electricity distributors. The decision is expected to serve as an important precedent for future private-sector participation in Pakistan’s electricity market as the country gradually transitions towards a more competitive and diversified power sector.

Petrol Price Raised to Rs335.18/Litre, Diesel Hits Rs383.46 Under Daily Pricing Mechanism
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Petrol Price Raised to Rs335.18/Litre, Diesel Hits Rs383.46 Under Daily Pricing Mechanism

The federal government on Friday increased the prices of petrol and high-speed diesel (HSD) by Rs3.66 and Rs4.80 per litre, respectively, reflecting fluctuations in international oil markets amid renewed tensions in the Persian Gulf. According to a notification issued by the Petroleum Division, the revised prices came into effect on July 25, 2026 (Saturday) under Pakistan’s newly introduced daily fuel pricing mechanism. Following the latest revision, the ex-depot price of petrol has increased to Rs335.18 per litre, while high-speed diesel (HSD) now costs Rs383.46 per litre. The government continues to collect substantial taxes and duties on petroleum products. It is currently charging Rs110 per litre in taxes and duties on petrol and Rs96 per litre on diesel, making petroleum products a major source of federal revenue. Global Oil Market Volatility Drives Price Increase The latest adjustment follows continued volatility in international crude oil markets after renewed hostilities in the Persian Gulf disrupted market sentiment and raised concerns over global oil supplies. The government said the revised prices reflect changes in international petroleum prices and import costs, which are regularly reviewed to align domestic fuel prices with global market trends. Fuel prices in Pakistan have remained highly volatile in recent months as geopolitical tensions continue to influence international crude oil markets. Fuel Prices Remain Below Earlier Peaks Despite the latest increase, current fuel prices remain significantly below the record levels witnessed earlier this year. High-speed diesel had reached a historic high of Rs520.35 per litre on April 3, after climbing steadily from around Rs281 per litre following the outbreak of the US-Iran conflict on February 28. Similarly, petrol prices peaked at Rs458.41 per litre on April 3, after rising from approximately Rs266 per litre during the first week of March. Although prices have eased considerably from those record highs, they remain elevated compared with levels seen before the regional conflict intensified. Pakistan Shifts to Daily Fuel Pricing The latest revision is part of Pakistan’s transition from weekly to daily petroleum price adjustments. Earlier this month, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be determined on a daily basis, replacing the weekly review system introduced earlier in the year. The minister said the federal cabinet and Prime Minister Shehbaz Sharif had authorised the Oil and Gas Regulatory Authority (OGRA) to determine daily fuel prices based on international market movements. The government introduced the new pricing mechanism to respond more quickly to changes in global oil prices and reduce distortions in the domestic petroleum market. Since early March, Pakistan had been announcing weekly fuel price revisions while also implementing fuel conservation measures amid concerns over possible supply disruptions linked to the Middle East conflict. The government had also introduced targeted fuel subsidy measures in April to provide limited relief to eligible consumers during the period of exceptionally high international oil prices. Dealers Oppose Daily Price Changes The new daily pricing system has faced opposition from petroleum dealers. The All Pakistan Petroleum Dealers Association has rejected the government’s decision, arguing that frequent price revisions create operational difficulties for filling stations and uncertainty for consumers. The association has announced that it will consider a protest strategy during the coming week against the implementation of daily fuel price adjustments. Higher Fuel Prices Affect Consumers and Businesses Petrol remains the primary fuel used by private vehicles, motorcycles, rickshaws and small commercial transport, meaning any increase directly affects millions of middle- and lower-middle-income households. Higher petrol prices also increase commuting expenses and transportation costs for businesses and consumers alike. Meanwhile, high-speed diesel is widely used by heavy transport vehicles, agricultural machinery, power generation facilities and industrial equipment. As a result, increases in diesel prices often lead to higher freight charges, rising production costs and additional inflationary pressure across multiple sectors of the economy. Petroleum Products Remain Major Revenue Source Petrol and high-speed diesel continue to be Pakistan’s largest-selling petroleum products and generate significant tax revenue for the government. Combined monthly sales of petrol and HSD range between 700,000 and 800,000 tonnes, making them the backbone of the country’s petroleum market. By comparison, monthly demand for kerosene remains relatively low at around 10,000 tonnes, highlighting the dominant role of petrol and diesel in Pakistan’s energy consumption and government revenue collection.

MQM-P to Launch Street Movement Against 'Injustice' to Karachi, Announces Mustafa Kamal
Pakistan

MQM-P to Launch Street Movement Against ‘Injustice’ to Karachi, Announces Mustafa Kamal

Muttahida Qaumi Movement-Pakistan (MQM-P) leader and Federal Health Minister Mustafa Kamal on Saturday announced that his party would launch a street movement against what it described as the continued injustice towards Karachi, saying all protests would remain within the framework of the Constitution and the law. Addressing a press conference in Karachi, Kamal said the MQM-P had exhausted constitutional and parliamentary avenues to raise the city’s issues and had now decided to take its campaign directly to the public. “MQM-P has decided that it will no longer stay quiet,” Kamal said. “We spoke in the assemblies, but they did not agree. We presented constitutional amendments, but they did not agree. Now we will come onto the streets with the people while remaining within the law and the Constitution.” He stressed that peaceful public protests were a constitutional right and said the party would exercise that right to highlight Karachi’s longstanding governance and development issues. According to Kamal, Pakistan had reached a stage where the existing governance structure could no longer effectively address public concerns. The MQM-P leader criticised what he called the failure to implement meaningful devolution of powers under the 18th Constitutional Amendment. He argued that although provinces receive substantial financial resources from the federation, those funds do not adequately reach local governments or district administrations. Referring to federal resource distribution, Kamal said the federation allocated around Rs8.4 trillion among the provinces, with Sindh receiving approximately Rs2.2 trillion. He alleged that the money remained concentrated at the provincial level instead of being distributed to cities and districts. “These funds are allocated in the name of the people, but they remain confined to the Chief Minister House instead of reaching Karachi, Hyderabad, Sukkur or Larkana,” he claimed. He further alleged that Sindh lacked an effective system for transferring financial resources to union councils, limiting the ability of local governments to provide essential public services. MQM-P Demands Greater Devolution of Powers Kamal reiterated the MQM-P’s longstanding demand for administrative reforms and greater decentralisation, including the creation of new administrative provinces. He said the party would support every constitutional measure aimed at devolving powers to local governments, arguing that the objectives of the 18th Amendment had not been fully implemented. “The 18th Amendment has not been enforced properly,” he said, adding that administrative restructuring was necessary to improve governance and public service delivery across Sindh. The MQM-P leader maintained that stronger local governments would allow cities to manage their own development priorities and respond more effectively to residents’ needs. Karachi Being Prevented From Playing Its Economic Role, Says Kamal During the press conference, Kamal described Karachi as Pakistan’s economic engine and questioned why the country’s largest city continued to face severe infrastructure and governance challenges. He alleged that the Sindh government was preventing Karachi from making its full contribution to Pakistan’s economic growth. “Who can pull Pakistan out of this economic quagmire? It is Karachi, but the current Sindh government is not allowing the city to contribute as it should,” he said. Kamal clarified that his criticism was not directed at the development of other cities but argued that Karachi should have received priority investment because of its central role in Pakistan’s economy. “We are happy for Lahore, but if development was to take place anywhere first, it should have happened in Karachi,” he remarked. According to Kamal, improved governance in Karachi could significantly strengthen Pakistan’s economic performance. Civic Problems Highlighted The federal minister also accused the provincial administration of failing to provide Karachi’s residents with basic municipal services. He claimed that many areas continued to suffer from shortages of clean drinking water, inadequate sewerage infrastructure and poor public education facilities. Kamal further alleged that several girls’ schools lacked basic sanitation facilities, including toilets, while the province continued to face high rates of child stunting and out-of-school children. He also raised concerns over recurring incidents involving uncovered manholes in Karachi, saying children had repeatedly lost their lives after falling into open drains. “Sindh is the only place where children are losing their lives after falling into manholes,” he alleged. The MQM-P leader also referred to the high number of reported dog-bite cases in the province, describing them as further evidence of weak municipal governance. Calls for Governance Reforms Calling Karachi Pakistan’s “economic capital,” Kamal said the city generated a significant share of national revenue and hosted the country’s major seaports but continued to struggle with poor infrastructure and public services. He criticised what he described as the absence of meaningful police reforms and shortcomings in managing primary and secondary education. Comparing Karachi with developments elsewhere, Kamal said that while other cities were discussing modern transport systems and advanced emergency medical services, Karachi was introducing bicycle ambulances. “I want to tell those running the country not to mistake our silence for weakness,” he said, adding that cities across Sindh deserved better governance and public services. Kamal said the MQM-P had previously introduced constitutional amendments intended to address governance issues but lacked sufficient parliamentary numbers to secure their passage. He concluded by accusing the current political arrangement of preventing meaningful reforms and said the party would now intensify its campaign through peaceful constitutional means, including public demonstrations.

US Announces Global Visa Restrictions Targeting Cybercriminals and Online Fraud Networks
World

US Announces Global Visa Restrictions Targeting Cybercriminals and Online Fraud Networks

The United States has unveiled a new global visa restriction policy targeting foreign nationals involved in cybercrime and cyber-enabled criminal activities, including online investment scams and sextortion, as part of a broader effort to protect American citizens from growing digital threats. The policy, announced on Friday by US Secretary of State Marco Rubio, allows the US government to deny visas to individuals found responsible for or complicit in cyber-enabled crimes. The restrictions may also extend to the immediate family members of those involved. According to the US State Department, the measure is part of the Trump administration’s wider campaign to disrupt international cybercriminal networks that target American citizens through sophisticated online fraud schemes. New Policy Targets Online Investment Scams and Sextortion In a statement announcing the new policy, Rubio said President Donald Trump had directed his administration to take stronger action against online financial fraud through an executive order aimed at combating cyber-enabled crime. He said online investment scams had become an unprecedented threat to Americans, causing billions of dollars in losses and supporting wider criminal activities. “President Trump has made clear that his administration is taking action to counter an unprecedented threat from online investment scams,” Rubio said. According to the State Department, many of these scams are allegedly orchestrated by Chinese transnational criminal organisations, which officials say defrauded US citizens of at least $10 billion during 2024. The department added that proceeds from these scams are believed to finance other illegal activities, including money laundering, corruption and human trafficking. Immediate Family Members May Also Face Restrictions Under the new policy, visa restrictions can be imposed not only on individuals directly involved in cybercrime but also on those considered complicit in facilitating such activities. In addition, immediate family members of designated individuals may also become ineligible for US visas. The State Department said the expanded approach is intended to discourage participation in organised cybercrime and prevent criminals from benefiting from international travel. Officials believe stronger immigration measures will complement existing law enforcement efforts aimed at dismantling transnational criminal organisations. US Plans Broader Crackdown on Cybercrime Alongside visa restrictions, the United States said it would continue using multiple legal and financial tools to combat cyber-enabled crime across international borders. According to the State Department, these measures include: Criminal prosecutions.Economic sanctions.Asset seizures.Extradition requests.Enhanced cooperation with international law enforcement agencies. US officials said the coordinated strategy is designed to identify, disrupt and prosecute criminal networks responsible for online fraud targeting Americans. “By restricting visa issuance to those who are responsible for or complicit in these criminal enterprises, we are sending a clear message: the United States will go after those who prey on our citizens,” Rubio said. Growing Concern Over Sextortion Cases The State Department also highlighted the growing threat posed by overseas sextortion schemes targeting American children and teenagers. Officials said these crimes have caused significant emotional, psychological and financial harm to victims and their families. Sextortion typically involves criminals coercing victims into sending explicit images or money through threats of exposing private material online. US authorities said combating these crimes has become a major law enforcement priority because of their increasing frequency and severe impact on victims. Global Policy, Not Limited to One Country Although the State Department specifically referred to Chinese criminal organisations allegedly involved in large-scale online investment fraud, the new visa restriction policy applies globally. The policy is not directed at any single country and can be used against foreign nationals from any nation who are found to have participated in cybercrime or cyber-enabled criminal activities. The United States said the new measures demonstrate its commitment to strengthening international cooperation against digital crime and protecting individuals from increasingly sophisticated online scams. The announcement reflects Washington’s broader effort to curb cross-border cybercrime by combining immigration enforcement with criminal investigations and international partnerships.

Govt Cuts Mark-Up on Development Loans to 11.89% for FY2025-26
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Govt Cuts Mark-Up on Development Loans to 11.89% for FY2025-26

The federal government has reduced the mark-up rate on development loans and advances to provincial governments, public sector entities and other government institutions by nearly six percentage points for the fiscal year 2025-26, following a sharp decline in the State Bank of Pakistan’s policy rate. According to a notification issued by the Ministry of Finance (MoF) on Friday, the mark-up rate has been fixed at 11.89% for the fiscal year ending June 30, 2026, compared with 17.74% in 2024-25 and 17.84% in 2023-24. The reduction comes after the State Bank lowered its benchmark policy rate from a peak of 22% to 11.5%, significantly reducing the government’s borrowing costs. Lower Policy Rate Drives Reduction The revised mark-up reflects the government’s annual adjustment based on its own debt servicing costs, which are linked to yields on Pakistan Investment Bonds (PIBs) and Treasury Bills (T-bills). Although the latest reduction amounts to 5.85 percentage points compared with the previous fiscal year, the current rate remains around 15.4% higher than the 10.30% charged in 2020-21. The notification also confirmed that the same 11.89% annual mark-up will apply to government loans and advances provided for house building and vehicle purchases during FY2025-26. Loans Cover Provinces, SOEs and Public Institutions The mark-up applies to Cash Development Loans (CDLs) extended by the federal government to: Provincial governments.Azad Jammu and Kashmir (AJK).Gilgit-Baltistan.Local government bodies.State-owned enterprises (SOEs).Autonomous organisations.Public sector financial institutions.Non-financial public sector institutions.Commercial departments of the federal government. These loans are provided to finance development projects, infrastructure schemes and social sector programmes across the country. The federal government also extends foreign re-lent loans obtained from international development partners to eligible public sector institutions. Major Source of Federal Revenue Interest earned on these loans has become an increasingly important source of federal government revenue over the past decade. According to official figures, the government collected approximately Rs164 billion in mark-up on development loans and cash advances during 2025-26, when the applicable rate stood at 17.74%. In the previous fiscal year, the federal government earned around Rs245 billion through mark-up charges at a rate of 17.84%. Of that amount: Rs95.45 billion was collected from provincial governments.Approximately Rs155 billion came from state-owned enterprises and other public sector entities. The decline in the mark-up rate is expected to reduce borrowing costs for provinces and public institutions, although it may also lower federal revenue generated from interest income. Rates Have Increased Significantly Over the Decade Despite this year’s reduction, the mark-up charged on federal development loans remains substantially higher than historical levels. The rate stood at 6.54% in 2016-17, meaning it increased by nearly 175% over the following years as Pakistan experienced high inflation and elevated interest rates. It reached more than 17% during the past two fiscal years after the State Bank aggressively tightened monetary policy to curb inflation and stabilise the economy. With inflation easing and interest rates declining, the government has now adjusted lending rates accordingly. Government Borrows Cheaply, Lends at Higher Rates The federal government generally secures long-term development financing from international lenders at relatively low interest rates, often around 2%, before extending those funds to provinces and public sector institutions through cash development loans at significantly higher mark-up rates. The Ministry of Finance said the applicable mark-up is determined under the terms of each loan agreement but is reviewed annually in line with the government’s own borrowing costs in domestic financial markets. The revised rate for FY2025-26 is expected to provide some financial relief to provincial governments, local bodies and state-owned entities undertaking development projects while aligning federal lending rates with the broader easing cycle in Pakistan’s monetary policy.

Pakistan Railways Hits Record Rs115bn Revenue; Ml-1, Thar Link Called Vital For Growth
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Pakistan Railways Hits Record Rs115bn Revenue; Ml-1, Thar Link Called Vital For Growth

Record Financial Turnaround Pakistan Railways has recorded its highest-ever annual revenue of Rs115.157 billion in financial year 2025-26, marking a 24% rise from the previous year, while the minister for railways underlined that ML-1, ML-3 and the Thar coal connectivity projects remain critical for the organisation’s sustained growth. Briefing the federal cabinet, Minister for Railways Hanif Abbasi said the state-run entity would continue modernising infrastructure, strengthening regional connectivity, improving passenger and freight services, and accelerating digital transformation. Prime Minister Shehbaz Sharif expressed satisfaction over the financial turnaround and asked the minister to share details with the cabinet. Revenue rose to Rs115,157 million in FY26 from Rs92,728 million in FY25 and Rs80,732 million in FY24, reflecting a 42% increase over two years. Freight earnings reached Rs40,783 million, passenger earnings stood at Rs50,590 million, and sundry earnings climbed to Rs16,401 million. Income from property and land jumped from Rs5,022 million to Rs11,956 million, driven by better commercial use of railway assets. The cumulative operating surplus improved sharply from 1% in FY24 to 4% in FY25 and further to 15% in FY26. Abbasi attributed the gains to a focused strategy covering financial sustainability, stronger governance, public-private partnerships and digitalisation of processes. These reforms, he said, had restored commercial viability, improved operational efficiency and modernised service delivery. Key Projects For Future Growth The minister told the meeting that the implementation of ML-1, ML-3 and Thar coal rail link projects is essential for the long-term growth of Pakistan Railways. The cabinet appreciated the efforts of the railways minister and his team under the prime minister’s guidance. Officials noted that the broad-based growth across freight, passenger and commercial streams signals a more stable financial base for the organisation. Continued progress on the major infrastructure projects will be needed to lock in these gains and expand the railways’ role in trade facilitation and regional integration. The minister reaffirmed the resolve to build on the recent improvements and raise the contribution of Pakistan Railways to national economic growth. Key Messages from the Report:

SBP Appoints 10 Primary Dealers For FY2026-27 As Govt Relies On Domestic Borrowing
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SBP Appoints 10 Primary Dealers For FY2026-27 As Govt Relies On Domestic Borrowing

The SBP Primary Dealers for fiscal year 2026-27 have been announced, with the State Bank of Pakistan (SBP) appointing 10 financial institutions and two Special Purpose Primary Dealers (SPDs) to facilitate the government’s domestic borrowing programme. The appointments underscore the critical role commercial banks and financial institutions play in financing Pakistan’s fiscal deficit through the domestic debt market. According to a notification issued by the central bank on Thursday, United Bank Limited (UBL), National Bank of Pakistan (NBP) and Bank Alfalah emerged as the top three performing Primary Dealers during FY2025-26 based on their overall performance in the government securities market. The appointments come at a time when the federal government continues to rely heavily on domestic borrowing to meet its financing requirements, making Primary Dealers essential participants in the issuance, distribution and trading of government debt instruments. SBP Names 10 Primary Dealers After evaluating applications submitted under the Primary Dealer System Rules, the SBP selected the following institutions as Primary Dealers (PDs) for FY2026-27: In addition, the Central Depository Company of Pakistan Limited (CDC) and the National Clearing Company of Pakistan Limited (NCCPL) have been appointed as Special Purpose Primary Dealers (SPDs) for the new fiscal year. The SBP said the appointments were made after assessing applications against the eligibility criteria outlined in the Primary Dealer System Rules. UBL, NBP And Bank Alfalah Lead Performance Rankings The central bank recognised UBL, NBP, and Bank Alfalah as the best-performing Primary Dealers during FY2025-26. According to the notification, these three institutions achieved the highest overall performance among participating dealers in supporting the government’s domestic debt programme. The SBP added that detailed performance rankings of the remaining Primary Dealers and Special Purpose Primary Dealers will be communicated individually to the respective institutions. Key Role In Government Borrowing Primary Dealers play a central role in Pakistan’s financial system by acting as intermediaries between the government and investors in the domestic debt market. They participate in auctions conducted by the State Bank of Pakistan for Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs), enabling the government to raise funds for budgetary financing. Beyond participating in auctions, Primary Dealers also help distribute government securities among banks, financial institutions and other investors while supporting liquidity in the secondary market. Their active participation contributes to efficient price discovery and ensures that government securities remain tradable after issuance. Supporting Pakistan’s Debt Market The government’s growing reliance on domestic borrowing has increased the importance of the SBP Primary Dealers system. As Pakistan finances a significant portion of its fiscal deficit through Treasury Bills and long-term Pakistan Investment Bonds, Primary Dealers serve as the backbone of the domestic debt market. By purchasing government securities during auctions and facilitating their subsequent trading, these institutions help maintain liquidity and investor confidence in the market. Financial analysts note that an efficient Primary Dealer network strengthens the government’s ability to secure financing at competitive market rates while ensuring the smooth functioning of Pakistan’s debt market. Selection Made Under SBP Rules The appointments were made under the Primary Dealer System Rules issued through DMMD Circular No. 07, dated April 12, 2021. Earlier this year, the SBP invited applications for the appointment of Primary Dealers (PDs), Prospective Primary Dealers (PPDs) and Special Purpose Primary Dealers (SPDs) for FY2026-27 through a circular issued on May 7, 2026. Following a comprehensive evaluation process, the central bank finalised the appointments based on prescribed eligibility requirements and performance criteria. Broad Representation Across Financial Sector The latest list of Primary Dealers reflects broad participation from Pakistan’s banking and financial services industry. The selected institutions include large commercial banks, an investment company, an international bank operating in Pakistan, and two major financial market infrastructure organisations. The inclusion of the Central Depository Company (CDC) and the National Clearing Company of Pakistan Limited (NCCPL) as Special Purpose Primary Dealers highlights the growing importance of financial market infrastructure in supporting the government’s debt management framework. Why Primary Dealers Matter Primary Dealers perform several important functions in Pakistan’s government securities market. They participate directly in government debt auctions, ensuring sufficient demand for Treasury Bills and Pakistan Investment Bonds. They also facilitate the distribution of these securities to institutional investors and support trading in the secondary market, helping maintain market liquidity. Their role is particularly significant at a time when the government continues to depend on domestic borrowing as a major source of budget financing. An active and competitive network of SBP Primary Dealers enables the government to mobilise funds efficiently while promoting transparency, liquidity and stability in Pakistan’s domestic debt market.

UNOPS Water Infrastructure Worth $7.6m Handed Over To Sindh, KP
Pakistan

UNOPS Water Infrastructure Worth $7.6m Handed Over To Sindh, KP

The UNOPS water infrastructure project has officially been transferred to the Public Health Engineering Departments (PHEDs) of Sindh and Khyber-Pakhtunkhwa (KP), marking a significant step toward improving access to clean drinking water and sanitation in underserved communities. Valued at $7.6 million, the infrastructure includes solar-powered water supply systems designed to reduce long-term operating costs while expanding access to safe water for nearly 300,000 people. Funded by the United States Department of State, the project delivered critical water and sanitation facilities across Umerkot district in Sindh and Tank district in KP. Officials said the handover ensures provincial governments will now manage and maintain the infrastructure, helping deliver sustainable public services while lowering future maintenance expenses through renewable energy solutions. Solar-Powered Water Systems To Reduce Costs A key feature of the UNOPS water infrastructure project is the installation of more than half a megawatt of solar power capacity across the newly developed water supply schemes. The solar-powered systems allow the facilities to operate independently of Pakistan’s national electricity grid, significantly reducing recurring electricity and diesel costs that typically burden public water utilities. By relying on renewable energy, the project is expected to lower operational expenses for provincial governments while also reducing carbon emissions and supporting Pakistan’s broader climate resilience and clean energy objectives. Officials said the shift to solar energy will make the water supply systems more reliable, particularly in rural areas where electricity shortages and rising fuel prices often disrupt public services. Clean Water For Nearly 300,000 People Under the project, UNOPS completed six drinking water supply schemes, installed more than 40 kilometres of water distribution pipelines, and established over 1,300 water collection points across the two districts. The infrastructure now provides improved access to safe drinking water for almost 300,000 residents, many of whom previously faced limited or unreliable water supplies. In addition to expanding water access, UNOPS handed over a fully equipped water-testing laboratory that will support continuous water quality monitoring for approximately 164,000 people, helping ensure that drinking water remains safe and meets public health standards. The project also strengthened sanitation facilities by constructing six toilet blocks in schools, providing improved sanitation services to around 6,440 students. Economic Benefits For Rural Communities Officials highlighted that the project is expected to generate broader economic and social benefits beyond improving public health. With clean water now available closer to their homes, women in local communities are spending significantly less time collecting water, freeing up hours that can be devoted to productive economic activities. According to project officials, many women are now able to engage in handicrafts, kitchen gardening, small-scale agriculture, and other income-generating activities, creating new opportunities to supplement household earnings. The reduction in unpaid domestic labour is expected to improve livelihoods and strengthen the economic resilience of families living in some of Pakistan’s underserved rural districts. Provincial Departments To Manage Operations Following the handover, the Public Health Engineering Departments of Sindh and Khyber-Pakhtunkhwa will assume responsibility for operating and maintaining the water supply infrastructure. To support the transition, UNOPS has planned a series of capacity-building programmes aimed at strengthening institutional capabilities. The training will focus on key areas including operation and maintenance of water systems, water quality monitoring, and project management to ensure the infrastructure continues delivering reliable services over the long term. Officials said building technical capacity within provincial departments is essential for protecting the investment and ensuring sustainable service delivery for local communities. Sustainable Infrastructure For Long-Term Development The transfer reflects a broader development approach that combines international financial assistance with local ownership and institutional strengthening. By integrating solar-powered technology, provincial management, and technical training, the UNOPS water infrastructure project aims to reduce future operating costs while ensuring the facilities remain functional for years to come. Development experts say investments in clean water, sanitation, and renewable energy not only improve public health but also contribute to economic development by lowering government expenditures, increasing productivity, and creating more resilient rural communities. The project demonstrates how international partnerships can help expand access to essential public services while promoting environmental sustainability and long-term economic benefits for Pakistan’s rural population.

Pakistan To Establish First Center For Industrial Innovation And AI At NUTECH
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Pakistan To Establish First Center For Industrial Innovation And AI At NUTECH

Pakistan has taken a major step toward advancing industrial technology and digital transformation with the signing of a Memorandum of Understanding (MoU) to establish the country’s first Center for Industrial Innovation and AI (CIINAI). The initiative aims to integrate artificial intelligence, advanced manufacturing technologies, applied research and technical training under a single platform to improve industrial productivity and strengthen Pakistan’s global competitiveness. Landmark Initiative for Industrial Development Speaking at the signing ceremony, Special Assistant to the Prime Minister Haroon Akhtar Khan described the establishment of the Center for Industrial Innovation and AI as a historic milestone for Pakistan’s industrial sector. He said the government is committed to strengthening partnerships between industry, universities and research organisations to accelerate innovation, enhance manufacturing capabilities and promote sustainable industrial growth. According to the statement, the new centre will serve as a national hub for industrial innovation by bringing together modern technologies, research expertise and workforce development initiatives under one roof. Centre to Be Established at Korangi Creek Industrial Park The Center for Industrial Innovation and AI (CIINAI) will be established by the Pakistan Industrial Development Corporation (PIDC) at its Korangi Creek Industrial Park in Karachi. The facility will function as a common resource centre for industries, offering advanced technological services and specialised training programmes to manufacturers and industrial enterprises. Officials said the centre will support businesses by providing industrial artificial intelligence solutions, advanced manufacturing technologies, research and development (R&D) services, and technical capacity-building programmes. The project is expected to help local industries adopt modern production methods, improve operational efficiency and enhance product quality in line with international standards. Focus on AI and Advanced Manufacturing A key objective of the Center for Industrial Innovation and AI is to promote the integration of artificial intelligence into Pakistan’s manufacturing sector. The centre will facilitate the use of AI-driven technologies to optimise production processes, improve quality control, reduce operational costs and increase industrial efficiency. In addition to AI applications, the facility will support research in advanced manufacturing technologies, helping industries embrace automation, digitalisation and smart manufacturing practices. Experts believe that adopting these technologies can significantly improve productivity while enabling Pakistani manufacturers to compete more effectively in international markets. Strengthening Industry-Academia Collaboration The initiative also seeks to strengthen collaboration between higher education institutions and the industrial sector. Through the partnership, NUTECH and NED University will contribute academic expertise, research capabilities and technical knowledge to develop practical industrial solutions. The collaboration will encourage applied research that directly addresses the technological needs of local industries while providing students and researchers with opportunities to work on real-world industrial challenges. Officials said closer cooperation between universities and industry is essential for developing a skilled workforce capable of supporting Pakistan’s industrial modernisation agenda. Training and Research Opportunities Besides research and technology development, the centre will offer specialised technical training programmes aimed at enhancing workforce skills. These programmes are expected to help engineers, technicians and industrial professionals gain expertise in artificial intelligence, automation, advanced manufacturing systems and other emerging technologies. The centre will also support innovation by providing businesses with access to modern equipment, research facilities and expert guidance to develop new products and improve manufacturing processes. Officials believe these initiatives will contribute to higher productivity, greater innovation and increased industrial competitiveness. MoU Signed by Three Institutions The Memorandum of Understanding was signed by PIDC Chief Executive Officer Rizwan Ahmed Bhatti, NUTECH Registrar Brigadier Salman Zafar (Retired) and NED University Vice Chancellor Professor Dr Muhammad Tufail. The agreement formalises cooperation among the three institutions for the establishment and operation of the Center for Industrial Innovation and AI, which is expected to become a key platform for promoting technological advancement and industrial innovation in Pakistan. The initiative reflects the government’s broader strategy to encourage digital transformation, strengthen research and development, and build a technology-driven industrial ecosystem capable of supporting long-term economic growth. Key Messages from the Report:

H1: Insurance Association Of Pakistan Presents Partner Awards At Mohatta Palace
Pakistan

Insurance Association Of Pakistan Presents Partner Awards At Mohatta Palace

Twenty-One Institutions Recognised For Strengthening Pakistan’s Insurance Sector KARACHI: The Insurance Association of Pakistan (IAP) honoured 21 leading public sector, private sector and development institutions at the IAP Partner Awards 2026, held at the historic Mohatta Palace. The awards celebrated organisations for their significant contributions to the growth and development of Pakistan’s insurance ecosystem. H3: Public And Private Sector Organisations Receive Recognition Among the award recipients were the Prime Minister’s National Health Program (Sehat Card), the Asian Development Bank (ADB), Sindh Police, Sindh Revenue Board, Central Depository Company (CDC), 1LINK, and several other institutions. They were recognised for their leadership in innovation, financial inclusion, digital transformation, public service, and advancing the insurance industry in Pakistan. Awards Presented By Government And IAP Leadership The awards were presented by Rana Ahsan Afzal Khan, Coordinator to the Prime Minister on Commerce, alongside Shoaib Javed Hussain, Chairman of the Insurance Association of Pakistan (IAP), during the ceremony at Mohatta Palace.

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