Author name: Web Desk

Cement Exports Increase 28.58% to $134.516 Million in 4 Months
Business

Cement Exports Increase 28.58% to $134.516 Million in 4 Months

ISLAMABAD:The exports of cement witnessed an increase of 28.58 percent during the first four months of the current financial year 2025-26 as against the exports of the corresponding months of last year.The cement exports from the country were recorded at US $134.516 million during July-October (2025-26) against the exports of US $104.617 million during July-October (2024-25), according to the Pakistan Bureau of Statistics (PBS).In terms of quantity, the cement export also rose by 20.40 percent from 2,857,679 metric tons to 3,440,737 metric tons, the data revealed.Meanwhile, year-on-year basis, the cement exports witnessed a decrease of 9.92 percent during the month of October 2025 as compared to the same month of last year.The exports of cement from the country during October 2025 were recorded at US $35.511 million against the exports of US $39.423 million in October 2024.On a month-on-month basis, cement exports increased by 35.18 percent during October 2025 when compared to the exports of US $26.270 million in September 2025, the PBS data revealed

Crypto Market Extends Retreat as Bitcoin Plunges Below $86,000
World

Crypto Market Extends Retreat as Bitcoin Plunges Below $86,000

The cryptocurrency market deepened its month-long slide during Asian trading Friday, with bitcoin tumbling as much as 2.1% to below $86,000 for the first time since April amid evaporating momentum and risk-off sentiment.Bitcoin traded at $85,350.75 at one point, down from recent highs, while ether dropped over 2% to $2,777.39, its lowest in four months. The broader sell-off mirrors weakness in tech stocks, fueled by concerns over elevated valuations and fading hopes for aggressive Federal Reserve easing.U.S. spot bitcoin ETFs saw billions in outflows this month, exacerbating the decline. Whales following four-year cycle patterns are selling heavily, thinning liquidity.Total crypto market cap has shed over $1 trillion recently. Volatility remains elevated as macro factors dominate. Fundstrat’s Sean Farrell calls current levels a “potential value zone” for buyers, with oversold signals flashing.Analysts warn of further downside if panic intensifies, but a rebound could target prior supports. Institutional interest persists long-term despite short-term pain.

PM’s Committee Moves to Document Gemstone Trade and Boost Exports
Pakistan

PM’s Committee Moves to Document Gemstone Trade and Boost Exports

Islamabad: A meeting of the Prime Minister’s Committee on Gemstone Policy was held today, chaired by Special Assistant to the Prime Minister, Haroon Akhtar Khan. Minister of State for Finance and Railways Bilal Azhar Kayani and Adviser to the Prime Minister Rana Ihsan Afzaal also attended the meeting. During the briefing, it was highlighted that Pakistan’s actual gemstone exports remain undocumented and will soon be formally registered. The Committee noted that nearly half of the total gemstone output is wasted due to outdated mining practices and obsolete technology. The Committee further observed that 30–40% of precious stones are lost because of non-scientific blasting and drilling methods. It was also emphasized that a significant portion of gemstones is exported in raw form without value addition, reducing Pakistan’s export potential. The Committee pointed out that the sector faces serious challenges due to the lack of international cooperation and investment. Haroon Akhtar Khan stated that the use of modern mining technologies can substantially enhance both gemstone production and exports. He added that comprehensive value addition to gemstones could multiply export figures. Pakistan currently holds an undocumented export potential of USD 2 billion in the gemstone sector, while only USD 7 million worth of gemstone exports are formally recorded at present. Haroon Akhtar Khan also noted that nephrite exports remain largely undocumented and directed stakeholders to present a clear five-year export analysis for the gemstone sector.

Cloudflare Outage Shuts Down Pakistan Online — Urgent Need for Local Internet Strength
Pakistan

Cloudflare Outage Shuts Down Pakistan Online — Urgent Need for Local Internet Strength

A recent Cloudflare outage that disrupted digital services nationwide has once again underscored Pakistan’s deep dependence on foreign internet infrastructure and highlighted the need for a comprehensive national resilience strategy. Officials from the Federal Ministry of IT and Telecommunication (ITT) told The Express Tribune that Pakistan maintains a 24/7 vigilance system through the National Cyber Emergency Response Team (NCERT). While the system continuously monitors cyber risks, authorities offered limited clarity on the country’s preparedness for failures originating in global networks. With ITT Minister Shaza Fatima Khawaja abroad, further comment could not be obtained. Cloudflare—a major U.S.-based provider of cybersecurity and content delivery services—faced a technical fault that rendered numerous essential websites inaccessible, including the Pakistan Stock Exchange, Sindh High Court, X, and OpenAI. The incident slowed browsing speeds and interrupted routine online transactions for millions of users. Industry specialists noted that although the glitch did not originate in Pakistan, its impact was felt almost instantly, exposing how vulnerable the country remains to disruptions outside its control. IT experts argue that Pakistan must urgently invest in indigenous infrastructure—local data centres, Internet Exchange Points (IXPs), and content-caching systems—to keep critical digital traffic within national borders. Noman Ahmed Said, CEO of Sai Global, described the outage as evidence of a structural imbalance: Pakistan’s rapid digital expansion has outpaced the infrastructure required to sustain it. Past disruptions—subsea cable faults, regional routing issues, and political shutdowns—have already caused substantial economic losses. In 2024 alone, internet restrictions cost Pakistan an estimated $1.6 billion. In contrast, P@SHA Chairman Sajjad Syed downplayed the incident, likening it to routine global outages experienced by major platforms like Google, Facebook, and Microsoft. He stressed that Pakistan was not at fault and that Cloudflare-dependent websites were temporarily affected like elsewhere in the world. The Pakistan Telecommunication Authority (PTA), however, faced criticism for its muted response. While Cloudflare issued detailed updates and apologies, the PTA released only a brief statement acknowledging a “global outage,” offering little guidance to affected users. Experts now call for a more strategic approach—treating internet access as essential national infrastructure, enforcing stronger redundancy standards, building domestic capacity, and developing a unified cyber-resilience framework. Without such measures, they warn, Pakistan will continue to experience nationwide disruption from even minor international technical failures.

Daraz Pakistan Extends 11.11 Excitement with Big Friday Sale from 21 to 30 November
Pakistan

Daraz Pakistan Extends 11.11 Excitement with Big Friday Sale from 21 to 30 November

After powering one of the biggest online shopping moments of the year with 11.11, Daraz Pakistan is extending the celebration with its Big Friday Sale, live on the Daraz app and website from 21 November (8 PM onwards) until 30 November. The extension gives customers across Pakistan more time to enjoy major savings, explore new brands and take advantage of high-value deals during one of the busiest shopping periods of the year. This year’s 11.11 delivered discounts of up to 90%, savings worth more than PKR 1 billion, free delivery on eligible orders and one of the largest assortments ever offered on the platform. The event brought together top national and international brands across fashion, electronics, home appliances, beauty, lifestyle and groceries, making it the biggest sale of 2024 for Pakistani shoppers. With demand peaking, Daraz is extending the experience through Big Friday to keep offers accessible for customers who want to complete their November and wedding season shopping. Big Friday carries forward the most loved mechanics of 11.11 while adding fresh surprises throughout the campaign. Customers can continue playing the 1 Rupee Game, unlock Rs. 11 deals at 3 PM and enjoy themed days for Electronics, Beauty, Fashion, Grocery and Lifestyle. These curated days bring focused assortments, new product drops and additional vouchers that can be stacked on top of existing discounts. Surprises such as Shop & Win prizes, app-only flash vouchers and short window Rush Hour deals keep the campaign dynamic throughout the week. The sale also features strong value through partner bank and wallet promotions. During 11.11, customers enjoyed grand savings through partner banks for digital payments. These incentives remain central to Big Friday, with multiple partners continuing to unlock additional savings at checkout. For customers who want to shop with the confidence of verified products, DarazMall continues to offer an authenticity guarantee backed by up to 3X moneyback if an item is proven to be counterfeit. More than 200 new brands joined DarazMall during 11.11, giving customers a wider assortment of official stores to choose from. The 14-day return policy on eligible products remains active during Big Friday, making it easier for shoppers to upgrade electronics, appliances or fashion items with peace of mind. “11.11 has become a national shopping moment in Pakistan and customers turned it into a celebration this year,” said Ehsan Saya, Managing Director, Daraz Pakistan. “Big Friday allows that excitement to continue. We want people to enjoy more days, more deals and more chances to save, whether they are restocking essentials or buying something special for themselves or their families.” The Daraz Big Friday Sale runs from 21 November (8 PM onwards) to 30 November, exclusively on the Daraz app and website.

IMF Says Pakistan Could Unlock 6.5% GDP Boost by Tackling Corruption and Governance Issues
World

IMF Says Pakistan Could Unlock 6.5% GDP Boost by Tackling Corruption and Governance Issues

KARACHI – The International Monetary Fund (IMF) has revealed that Pakistan could achieve an additional 5-6.5% growth in its gross domestic product (GDP) over the next five years if it effectively addresses entrenched corruption and governance shortcomings, according to a newly released diagnostic report.The joint IMF-World Bank assessment, uploaded by Pakistan’s Finance Ministry, provides the most comprehensive analysis in recent years of how fragmented regulations, non-transparent budgeting, and political influence are deterring investment and undermining revenue collection. The report serves as a reform benchmark under Pakistan’s ongoing $7 billion IMF Extended Fund Facility programme.Key recommendations include overhauling the complex and distortionary tax system plagued by excessive exemptions and arbitrary statutory orders, restructuring the Federal Board of Revenue (FBR) with stronger internal controls and audits, and curbing reliance on supplementary grants that evade parliamentary scrutiny.The IMF also highlighted severe governance risks in state-owned enterprises, which control assets worth nearly half of Pakistan’s nominal GDP, citing political interference, opaque procurement practices, and weak oversight. Despite progress in exiting the FATF grey list in 2022, challenges persist in securing convictions for corruption-related money laundering. Additionally, judicial delays, case backlogs, and inconsistent rulings hamper contract enforcement. The Fund called for greater transparency regarding the Special Investment Facilitation Council (SIFC), established in 2023 to streamline investments.Pakistan aims for 4.2% growth this fiscal year and claims to be advancing digitisation of tax administration and state firm restructuring. However, the report underscores the urgent need for deeper structural reforms amid politically sensitive changes, including the recent 27th constitutional amendment. The Finance Ministry offered no official comment on the findings, while the IMF declined to respond to queries.

Manufacturing Sector Carries 60% Tax Burden, Four Times Higher Than Rest of Economy: Hafiz Pasha
Business, Pakistan

Manufacturing Sector Carries 60% Tax Burden, Four Times Higher Than Rest of Economy: Hafiz Pasha

LAHORE: Former federal finance minister Dr Hafiz A Pasha has revealed that Pakistan’s large-scale manufacturing (LSM) sector shoulders a staggering 60% of the country’s total tax revenue – four times the burden borne by all other sectors combined – pushing the vital industry toward decline instead of growth.Speaking at the Lahore Chamber of Commerce and Industry (LCCI), Pasha highlighted the glaring tax imbalance, noting that high-potential sectors like agriculture contribute almost nothing despite 1% of landowners controlling 22% of prime farmland. Under IMF pressure, the government expects to collect a mere Rs4 billion from agriculture next year against Rs4,500 billion from manufacturing.He warned that investment in LSM has plummeted to levels lower than 25 years ago, with depreciating capital stock going unreplaced, choking sustainable expansion. Meanwhile, the non-productive real estate sector attracts the lion’s share of investment while contributing just 0.2% in taxes – 12 times less than industry.Pasha painted a grim socio-economic picture: 2.1 million unemployed youth, 2.6 million out-of-school children, and a record 22% workforce jobless. Only 6% of bank credit reaches three million small enterprises, with 80% diverted to government borrowing.LCCI President Faheemur Rehman Saigol blamed poor policies and governance for failing to harness Pakistan’s true economic potential, stressing that manufacturing and exports remain the real backbone of the economy.

Winter Demand Triggers Massive Dry Fruit Price Hike Amid Tension with Afghanistan
Pakistan

Winter Demand Triggers Massive Dry Fruit Price Hike Amid Tension with Afghanistan

ISLAMABAD: As winter sets in, dry fruit prices have skyrocketed in Pakistan including Rawalpindi and Islamabad amid tensions with Afghanistan, leaving consumers frustrated over unchecked profiteering and weak enforcement by district price control authorities. Residents report that shopkeepers are arbitrarily inflating rates, exploiting the seasonal surge in demand, particularly in colder and hilly regions. Common complaints highlight the absence of official price lists at most outlets, allowing traders to charge whatever they deem fit. Current market rates show peanuts at Rs450-650 per kg, pine nuts Rs7,000-14,000, almonds and cashews Rs3,000-4,000 each, walnuts Rs800-2,000, pistachios Rs3,000-4,000, raisins Rs700-1,000, and sesame sweets Rs600-800 per kg. Citizens allege many items are smuggled from Afghanistan and Iran, bypassing quality checks and enabling sale of substandard stock at premium prices. Major markets in Rawalpindi (Narnkari Bazaar, Canning Road, Bank Road) and Islamabad (Aabpara, Jinnah Super, F-10, Bara Kahu) remain hotspots for overpricing. Consumers Shakil Sheikh, Zahid Khan, and Rizwan Abbasi urged immediate activation of price control committees to curb exploitation. Despite earning $100 million annually by exporting just 10,000 tons against global demand of 1.05 million tons, domestic consumers continue to bear the brunt of unregulated pricing and poor oversight this winter.

PM Shehbaz Orders Urgent Monsoon Preparations, Approves Climate Resilience Plan
Pakistan

PM Shehbaz Orders Urgent Monsoon Preparations, Approves Climate Resilience Plan

ISLAMABAD: With devastating monsoon floods now an annual reality, Prime Minister Shehbaz Sharif on Wednesday directed federal and provincial authorities to immediately begin preparations for the 2026 monsoon season, approving the Ministry of Climate Change’s short-term resilience plan for instant rollout.Chairing a high-level review meeting as winter grips the country, the premier warned that Pakistan cannot endure another cycle of avoidable catastrophe. He ordered seamless integration of planning, data-sharing, and response systems across all institutions and stressed coordinated efforts between the Ministry of Climate Change, Ministry of Planning, NDMA, and provincial governments.PM Shehbaz also instructed preparations for an early meeting of the National Water Council to formulate comprehensive national water management strategies.Highlighting the economic toll, he lamented that Pakistan, despite contributing less than 1% to global emissions, is forced to divert significant GDP portions toward climate damage control instead of development. “We face severe consequences of climate change we did not create,” he said.Ministers Ahsan Iqbal, Ahad Khan Cheema, Muhammad Aurangzeb, Musadik Malik, Attaullah Tarar, and senior officials were briefed on global weather forecasts and short-, medium-, and long-term preparedness measures. The prime minister demanded visible progress before the next monsoon to protect lives and infrastructure nationwide.

US Congress Report Praises Pakistan’s ‘Military Success’ Against India, Credits Chinese Weapons
World

US Congress Report Praises Pakistan’s ‘Military Success’ Against India, Credits Chinese Weapons

ISLAMABAD: A newly released report by the US-China Economic and Security Review Commission has described Pakistan’s performance in the May 2025 four-day aerial conflict with India as a “military success,” attributing the outcome primarily to the first-ever combat deployment of advanced Chinese weaponry.Submitted to the US Congress on Tuesday, the document states that Pakistan’s downing of up to seven Indian aircraft — with Islamabad claiming zero losses — showcased the battlefield effectiveness of Beijing’s HQ-9 air-defence systems, PL-15 air-to-air missiles, and J-10C fighters operated by the Pakistan Air Force. The clash, triggered by Indian air strikes on Punjab and Azad Jammu & Kashmir on May 7 following a terrorist attack in IIOJK, ended with US mediation on May 10.The commission noted that China seized the opportunity to demonstrate its arms superiority over Western systems, including French Rafale jets, and subsequently offered Pakistan 40 fifth-generation J-35 stealth fighters, KJ-500 AWACS, and ballistic missile defence systems in June 2025. The report also accused Beijing of running AI-generated disinformation campaigns to exaggerate the performance of its platforms.Highlighting deepening Sino-Pakistani military ties, it revealed China supplied 82% of Pakistan’s arms imports between 2019-2023, with joint exercises intensifying in 2024-2025. Pakistan responded by hiking its defence budget 20% to $9 billion despite overall fiscal constraints.

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