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ABHI Microfinance Bank Seeks PSX Listing After Strong Profit Turnaround
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ABHI Microfinance Bank Seeks PSX Listing After Strong Profit Turnaround

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Bank Targets Growth With IPO Following Financial Recovery ABHI Microfinance Bank Limited is preparing for a public listing on the Pakistan Stock Exchange (PSX) after staging a significant financial turnaround under its new ownership. Formerly operating as FINCA Microfinance Bank, the institution was acquired in early 2025 by ABHI Private Limited and TPL Corp Limited. The planned initial public offering (IPO) is expected to strengthen the bank’s capital base and support future lending growth. Nationwide Network Supports Digital and Branch Banking Established in 2008 as a licensed deposit-taking microfinance bank, ABHI operates a network of 114 branches across more than 108 cities, covering all provinces, Islamabad, Gilgit-Baltistan and Azad Jammu & Kashmir. The bank provides micro-credit, savings, deposit and payment services to low-income individuals, salaried employees, micro-entrepreneurs and small businesses through a combination of physical branches and digital banking channels. Pakistan’s microfinance banks account for approximately 77 percent of the country’s total microfinance gross loan portfolio. Unlike many non-bank microfinance institutions that depend on donor funding or wholesale financing, ABHI primarily relies on customer deposits. Profitability Improves After Ownership Change Following the acquisition, management focused on improving asset quality, reducing costs and strengthening the balance sheet. The strategy delivered a notable turnaround in profitability: The bank’s equity position also improved significantly, moving from a deficit of Rs397 million at the end of 2025 to a surplus of Rs3.11 billion by June 2026. Meanwhile, its capital adequacy ratio improved from negative 20.28 percent to negative 6.26 percent, although it remains below regulatory requirements. Gold-Backed Financing Drives Lending Strategy Gold-backed financing has become the cornerstone of ABHI’s lending model and is expected to account for around 87 to 89 percent of its average gross loan portfolio in the near term. The secured financing portfolio is projected to generate yields of around 38 percent, while management aims to keep the portfolio-at-risk ratio near 2 percent. The remainder of the loan book consists of unsecured branch lending and digital earned wage access (EWA) products linked to payroll financing. The State Bank of Pakistan has granted the bank a five-year exemption, valid until November 2029, allowing gold-backed financing to exceed the normal regulatory cap of 35 percent of the loan portfolio. In addition, regulatory relief on the minimum 15 percent capital adequacy ratio remains in place until October 2027, providing the bank with additional time to strengthen its capital position. IPO Aims to Strengthen Capital Base ABHI Microfinance Bank plans to raise approximately Rs1.98 billion through its IPO at the floor price. The additional capital is expected to support future loan growth while improving regulatory capital ratios. Despite the recent financial recovery, the bank’s capital adequacy ratio remains negative, highlighting the importance of fresh equity to support sustainable expansion. Investors to Assess Growth Prospects and Risks While the turnaround has significantly improved the bank’s financial position, investors will closely monitor several key risks. The microfinance sector remains sensitive to inflation, economic conditions, borrower repayment capacity and potential changes in regulatory treatment of gold-backed financing once existing exemptions expire. The draft prospectus has been published on the Pakistan Stock Exchange website for public comments until August 10, after which investors will closely watch the book-building process and the bank’s ability to maintain profitability while expanding its lending operations.

Riyadh Air Launches Islamabad and Lahore Flights, Opens Ticket Sales
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Riyadh Air Launches Islamabad and Lahore Flights, Opens Ticket Sales

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Riyadh Air has officially expanded its network into Pakistan by opening ticket sales for new services connecting Riyadh with Islamabad and Lahore, marking another milestone in the airline’s rapid growth across Asia. Saudi Arabia’s new national carrier announced that daily flights between Riyadh and Islamabad will begin on August 14, 2026, while three weekly flights between Riyadh and Lahore will commence on August 18, 2026. The expansion strengthens air connectivity between Pakistan and Saudi Arabia while supporting growing demand from business travellers, tourists, and the large Pakistani expatriate community living in the Kingdom. Daily Islamabad Flights and Lahore Services Begin This Month Public ticket sales for both routes are now open. Under the initial schedule, Riyadh Air will operate: The airline said the new routes have been designed to provide seamless onward connections through Riyadh to destinations across Europe, the Middle East, and Saudi Arabia’s domestic network. The expansion also aims to facilitate family visits, labour mobility, business travel, and tourism between the two countries. Pakistan Becomes Key Part of Riyadh Air’s Asian Expansion The launch of Islamabad and Lahore services forms an important part of Riyadh Air’s broader strategy to strengthen its presence across Asia. The airline said the new routes support the longstanding cultural and economic relationship between Saudi Arabia and Pakistan while reinforcing Riyadh’s position as an emerging global aviation hub. For Pakistani travellers, the new services will provide additional options for connecting to Europe and other international destinations through Riyadh, reducing travel times and expanding connectivity. Officials noted that the routes are expected to serve both leisure and corporate travellers as well as the sizeable Pakistani diaspora residing in Saudi Arabia. Modern Boeing 787-9 Fleet to Serve Pakistan Routes Passengers travelling on the new Pakistan routes will fly aboard Riyadh Air’s Boeing 787-9 Dreamliners. The aircraft will feature four cabin classes: According to the airline, passengers can expect ergonomic seating, enhanced privacy, advanced in-flight entertainment powered by Panasonic Avionics’ Astrova platform, wireless audio connectivity, improved onboard dining, Saudi-made Kayanee amenities, children’s Disney travel kits, and a wellness programme designed to improve passenger comfort on long-haul flights. Sfeer Loyalty Programme Offers Additional Benefits Alongside the route launch, Riyadh Air is promoting its loyalty programme, Sfeer, for travellers using the new Pakistan services. The programme’s name combines the Arabic word for “Ambassador” with the English word “sphere,” reflecting the airline’s vision of building a global travel community. Members receive several benefits, including: The airline said the programme is designed to reward frequent travellers while enhancing the overall customer experience. Pakistan-Saudi Air Connectivity Continues to Grow The launch of Islamabad and Lahore flights reflects the continued expansion of air connectivity between Pakistan and Saudi Arabia, one of the country’s most important travel and employment corridors. The new services are expected to benefit business travellers, overseas Pakistanis, tourists, and passengers connecting onward to Europe and the Middle East through Riyadh. As Riyadh Air continues expanding its international network, Pakistan has become one of the airline’s early strategic markets, underlining the strong economic and people-to-people ties between the two countries.

RLNG Import Cost Hits Record High as Pakistan Relies Entirely on Spot LNG Cargoes Pakistan's RLNG Import Cost reached a record high in July 2026, highlighting the growing financial burden of relying solely on expensive spot liquefied natural gas (LNG) cargoes. With no long-term LNG shipments received under existing contracts with Qatar, Pakistan State Oil (PSO) was forced to depend entirely on spot market purchases, exposing the country to elevated global gas prices. The latest figures have renewed concerns over Pakistan's LNG procurement strategy, as industry experts warn that excessive reliance on the volatile spot market could increase energy costs for industries, power producers, and consumers. RLNG Import Cost Climbs to Historic Level According to data compiled by Arif Habib Limited, Pakistan LNG Limited (PLL) procured five spot LNG cargoes during July 2026 at an average Delivered Ex-Ship (DES) price of $18.98 per mmbtu, equivalent to a Brent slope of 20.07%. After adding $4.72 per mmbtu in additional costs, the overall RLNG Import Cost rose to $23.70 per mmbtu, the highest delivered RLNG cost ever recorded in Pakistan. Despite the sharp increase in procurement costs, the five cargoes supplied around 428 million cubic feet per day (mmcfd) of RLNG, keeping overall import volumes broadly stable during the month. No Long-Term LNG Cargoes Received A key feature of the July import data was the continued absence of long-term LNG cargoes under Pakistan's agreements with Qatar. Long-term LNG contracts are generally designed to provide greater price stability and reduce exposure to fluctuations in international spot markets. However, PSO did not receive any contracted cargoes during July, forcing the country to rely entirely on spot purchases at a time when global LNG prices remained elevated. This procurement pattern has significantly increased Pakistan's import bill while adding pressure to the country's energy sector and foreign exchange reserves. Reliance on Spot Market Raises Policy Questions The latest data has reignited debate over Pakistan's LNG procurement strategy. While spot purchases provide flexibility in managing supply, depending exclusively on the spot market leaves Pakistan vulnerable to sudden price spikes and supply disruptions. Energy analysts have consistently argued that a balanced procurement approach—combining long-term contracts with selective spot purchases—offers greater protection against international market volatility while ensuring supply security. The continued absence of long-term cargoes has also prompted questions about contract utilisation, procurement planning, and the long-term management of Pakistan's LNG supply portfolio. Higher Energy Costs Could Affect the Economy The record RLNG Import Cost is expected to have wider implications for Pakistan's economy. Higher imported gas costs may eventually translate into increased electricity generation costs, higher industrial production expenses, and additional inflationary pressure if the increased procurement costs are passed on to consumers. Industries dependent on natural gas, particularly export-oriented manufacturers, could face rising operating costs that reduce their competitiveness in international markets. At a time when Pakistan is managing fiscal pressures and foreign exchange constraints, record-high LNG import costs add another layer of economic challenges. Long-Term Planning Becomes Increasingly Important The July 2026 figures highlight the importance of strengthening Pakistan's long-term energy procurement strategy. While maintaining adequate LNG supplies remains essential, reducing excessive dependence on volatile spot markets could help stabilise import costs and improve energy security. A more balanced procurement framework, supported by efficient contract management and diversified supply sources, may help Pakistan minimise future price shocks while ensuring a reliable supply of natural gas for power generation and industrial consumption. Focus Keyword: RLNG Import Cost SEO Optimized Keywords: RLNG Import Cost, Pakistan LNG imports, PSO LNG imports, Pakistan State Oil, Pakistan LNG Limited, LNG spot market, Qatar LNG, RLNG prices Pakistan, LNG procurement Pakistan, natural gas Pakistan, energy sector Pakistan, LNG cargoes, Pakistan economy, industrial gas supply, July 2026 LNG imports Meta Description: Pakistan's RLNG Import Cost reached a record $23.70 per mmbtu in July 2026 as PSO relied entirely on expensive spot LNG cargoes, with no long-term shipments received from Qatar.
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RLNG Import Cost Hits Record High as Pakistan Relies Entirely on Spot LNG Cargoes

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Pakistan’s RLNG Import Cost reached a record high in July 2026, highlighting the growing financial burden of relying solely on expensive spot liquefied natural gas (LNG) cargoes. With no long-term LNG shipments received under existing contracts with Qatar, Pakistan State Oil (PSO) was forced to depend entirely on spot market purchases, exposing the country to elevated global gas prices. The latest figures have renewed concerns over Pakistan’s LNG procurement strategy, as industry experts warn that excessive reliance on the volatile spot market could increase energy costs for industries, power producers, and consumers. RLNG Import Cost Climbs to Historic Level According to data compiled by Arif Habib Limited, Pakistan LNG Limited (PLL) procured five spot LNG cargoes during July 2026 at an average Delivered Ex-Ship (DES) price of $18.98 per mmbtu, equivalent to a Brent slope of 20.07%. After adding $4.72 per mmbtu in additional costs, the overall RLNG Import Cost rose to $23.70 per mmbtu, the highest delivered RLNG cost ever recorded in Pakistan. Despite the sharp increase in procurement costs, the five cargoes supplied around 428 million cubic feet per day (mmcfd) of RLNG, keeping overall import volumes broadly stable during the month. No Long-Term LNG Cargoes Received A key feature of the July import data was the continued absence of long-term LNG cargoes under Pakistan’s agreements with Qatar. Long-term LNG contracts are generally designed to provide greater price stability and reduce exposure to fluctuations in international spot markets. However, PSO did not receive any contracted cargoes during July, forcing the country to rely entirely on spot purchases at a time when global LNG prices remained elevated. This procurement pattern has significantly increased Pakistan’s import bill while adding pressure to the country’s energy sector and foreign exchange reserves. Reliance on Spot Market Raises Policy Questions The latest data has reignited debate over Pakistan’s LNG procurement strategy. While spot purchases provide flexibility in managing supply, depending exclusively on the spot market leaves Pakistan vulnerable to sudden price spikes and supply disruptions. Energy analysts have consistently argued that a balanced procurement approach—combining long-term contracts with selective spot purchases—offers greater protection against international market volatility while ensuring supply security. The continued absence of long-term cargoes has also prompted questions about contract utilisation, procurement planning, and the long-term management of Pakistan’s LNG supply portfolio. Higher Energy Costs Could Affect the Economy The record RLNG Import Cost is expected to have wider implications for Pakistan’s economy. Higher imported gas costs may eventually translate into increased electricity generation costs, higher industrial production expenses, and additional inflationary pressure if the increased procurement costs are passed on to consumers. Industries dependent on natural gas, particularly export-oriented manufacturers, could face rising operating costs that reduce their competitiveness in international markets. At a time when Pakistan is managing fiscal pressures and foreign exchange constraints, record-high LNG import costs add another layer of economic challenges. Long-Term Planning Becomes Increasingly Important The July 2026 figures highlight the importance of strengthening Pakistan’s long-term energy procurement strategy. While maintaining adequate LNG supplies remains essential, reducing excessive dependence on volatile spot markets could help stabilise import costs and improve energy security. A more balanced procurement framework, supported by efficient contract management and diversified supply sources, may help Pakistan minimise future price shocks while ensuring a reliable supply of natural gas for power generation and industrial consumption.

Mari Energies Spinwam Gas Deal Signals Major Energy Opportunity but Regulatory Delays Could Slow Progress
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Mari Energies Spinwam Gas Deal Signals Major Energy Opportunity but Regulatory Delays Could Slow Progress

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Pakistan’s energy sector received another important development as the Mari Energies Spinwam Gas Deal entered its next phase following the award of a gas sales contract for the Spinwam Gas Discovery in Khyber Pakhtunkhwa. The announcement has generated interest among investors and industry experts, as the project has the potential to increase domestic gas availability at a time when Pakistan continues to struggle with declining indigenous gas production and rising dependence on expensive imported energy. Mari Energies Limited informed the Pakistan Stock Exchange (PSX) that it has issued a Letter of Award to Universal Gas Distribution Company (Pvt) Ltd for the sale of up to 17.5 million standard cubic feet per day (MMscfd) of natural gas from the Spinwam Gas Discovery located in the Waziristan Block. The award follows the successful completion of a competitive bidding process that began with an Invitation to Bid issued on May 15, 2026. Mari Energies Spinwam Gas Deal Moves to Regulatory Approval Stage Although the commercial award marks significant progress, the Mari Energies Spinwam Gas Deal cannot move into execution immediately. Both companies must now secure regulatory approvals under Pakistan’s Framework for Sale of Gas to Third Parties, issued through S.R.O. No. 11(I)/2025 on January 7, 2025. This regulatory phase will determine how quickly the gas can enter Pakistan’s energy supply chain. Historically, approvals for similar projects have often taken longer than anticipated, delaying much-needed energy production and affecting investor confidence. While the government’s third-party gas sale framework was introduced to encourage private-sector participation, its effectiveness will ultimately depend on how efficiently regulators process approvals. For Pakistan, speed matters. Every month of delay means additional pressure on industries already facing gas shortages and increased reliance on imported fuels. Why the Spinwam Gas Discovery Matters The Spinwam Gas Discovery represents more than another exploration success. It highlights the growing importance of untapped hydrocarbon resources in Khyber Pakhtunkhwa, particularly in areas that have historically remained underdeveloped because of security and infrastructure challenges. Mari Energies serves as the operator of the Waziristan Block with a 55 percent working interest. Its joint venture includes Oil and Gas Development Company Limited with a 35 percent stake and Orient Petroleum Inc. holding the remaining 10 percent. If developed on schedule, the project could contribute additional domestic gas supplies, helping reduce Pakistan’s import bill and partially easing pressure on industrial consumers facing supply constraints. Investor Confidence Strengthens The market responded positively to the announcement. Mari Energies shares traded at Rs653.59 during Monday’s trading session, gaining Rs7.19 or 1.11 percent. While the increase was modest, it reflected investor optimism that the company continues to monetize new discoveries despite broader challenges facing Pakistan’s upstream energy sector. Investors are increasingly rewarding companies capable of converting exploration success into commercial production. However, the sustainability of this optimism will largely depend on whether regulatory approvals and infrastructure development proceed without unnecessary delays. A Positive Step That Must Deliver Real Results The Mari Energies Spinwam Gas Deal is undoubtedly a positive development for Pakistan’s energy landscape, but the announcement should not be viewed as a completed success. Pakistan has witnessed numerous energy projects lose momentum after initial announcements due to bureaucratic bottlenecks, policy uncertainty, and delayed implementation. The real measure of success will be when gas from Spinwam begins flowing into the national energy system rather than remaining tied up in regulatory procedures. Efficient execution will be essential if the project is to contribute meaningfully to Pakistan’s energy security, industrial growth, and economic stability. For policymakers, the project presents an opportunity to demonstrate that reforms allowing third-party gas sales can translate into timely commercial outcomes instead of becoming another example of administrative delays slowing strategic investments.

Pakistan Inflation Falls to 9.2% in July 2026 as CPI Returns to Single Digits
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Pakistan Inflation Falls to 9.2% in July 2026 as CPI Returns to Single Digits

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Pakistan’s headline inflation returned to single digits in July 2026, with the Consumer Price Index (CPI) easing to 9.2% year-on-year, according to data released by the Pakistan Bureau of Statistics (PBS). The latest reading marks a significant decline from 11.1% in June, although it remains higher than the 4.1% recorded in July 2025. The slowdown broadly matched market expectations and the Finance Division’s forecast, reflecting favourable base effects despite continued pressure from energy and food prices. Pakistan Inflation Returns to Single Digits The July inflation reading confirms that Pakistan’s CPI has fallen below the double-digit mark after three consecutive months of elevated inflation. On a month-on-month basis, the Consumer Price Index increased 1.2% in July. This followed a 0.3% decline in June and compared with a 2.9% monthly increase in July last year. The Finance Division had earlier projected inflation to remain between 9% and 10% during July, citing rising international oil prices and domestic pricing adjustments. Urban and Rural Inflation Both Decline Inflation moderated across both urban and rural areas during July. Urban CPI inflation stood at 8.7% year-on-year, down from 11.2% in June, though still above the 4.4% recorded in July 2025. On a monthly basis, urban prices rose 1.2%, reversing the 0.5% decline recorded in the previous month. Meanwhile, rural inflation eased to 9.9% year-on-year, compared with 10.9% in June and 3.5% a year earlier. Rural prices also increased 1.2% month-on-month, after remaining unchanged in June. SBP Maintains Policy Rate at 11.5% The latest inflation figures come shortly after the State Bank of Pakistan (SBP) decided to keep its policy rate unchanged at 11.5% during its first Monetary Policy Committee meeting of the new fiscal year. SBP Governor Jameel Ahmad had earlier indicated that inflation was expected to ease during July and projected it would gradually move toward the upper end of the central bank’s 5% to 7% target range by the end of the fiscal year. The central bank continues to balance inflation risks against the need to support economic growth amid global uncertainty. Analysts Say Base Effects Drove the Decline Economists had widely expected inflation to return to single digits. Ismail Iqbal Securities projected 9.3%, while JS Global forecast 9.1% for July inflation. Analysts noted that the decline was driven primarily by favourable base effects rather than a broad-based easing in underlying inflationary pressures. They cautioned that higher energy prices, fuel costs and food inflation continue to pose risks to the inflation outlook over the coming months. Inflation Outlook Remains Uncertain While the return to single-digit inflation offers some relief for households and businesses, underlying price pressures have not disappeared. Persistent increases in energy costs, global commodity prices and food inflation continue to influence Pakistan’s economic outlook. Rising international oil prices could also place renewed pressure on domestic inflation if geopolitical tensions persist. The July data nevertheless represents an important milestone, suggesting inflationary momentum has slowed after several months of elevated readings. Whether this trend continues will largely depend on global energy markets, domestic policy decisions and the pace of economic recovery during the remainder of the fiscal year.

PayPak Cards Could Soon Become Mandatory for Government Salary Accounts in Pakistan
Pakistan

PayPak Cards Could Soon Become Mandatory for Government Salary Accounts in Pakistan

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Pakistan’s domestic payment network could soon receive a major boost after 1LINK proposed making PayPak cards mandatory for government employees, beneficiaries of subsidy programmes, and users of public sector services. The proposal aims to reduce Pakistan’s dependence on international payment networks while strengthening the country’s digital financial ecosystem. Submitted to the State Bank of Pakistan (SBP), the proposal seeks to expand the adoption of Pakistan’s home-grown payment system by integrating PayPak into government salary accounts, welfare programmes, subsidy schemes, and public transport payment systems. The initiative aligns with the SBP’s broader strategy of promoting local payment channels such as PayPak and Raast instead of relying heavily on international networks like Visa and Mastercard. Government Employees May Receive PayPak Cards by Default Under the proposal, all government employees would be issued PayPak cards linked to their salary accounts. Beneficiaries of social welfare programmes and other government assistance schemes could also receive payments through the domestic card network. The objective is to strengthen Pakistan’s financial independence by reducing transaction processing costs while limiting reliance on foreign payment infrastructure. Financial experts believe widespread adoption across the public sector could significantly increase the number of PayPak cardholders while accelerating the country’s digital banking transformation. Incentives Proposed to Boost Adoption To encourage greater usage, 1LINK has recommended several incentives for both consumers and merchants. The proposal includes tax benefits for transactions conducted through PayPak cards, particularly at point-of-sale (PoS) terminals and on e-commerce platforms. It also suggests cashback offers, discounts, and loyalty rewards on various transactions, including: Officials believe these incentives could encourage consumers and businesses to shift towards Pakistan’s domestic payment network. Government Offices Could Be Required to Accept PayPak The proposal also recommends expanding the acceptance network for PayPak cards across government institutions. Public service centres, including NADRA offices, passport offices, and excise departments, could be required to install payment terminals compatible with PayPak. Officials believe wider acceptance would make digital payments more convenient while reducing dependence on cash transactions and improving financial transparency. SBP Continues to Expand PayPak and Raast The State Bank of Pakistan has already introduced several initiatives to strengthen the country’s digital payment ecosystem. These include co-badged PayPak cards that support both domestic and international transactions, increased e-commerce acceptance, public awareness campaigns, and promotional initiatives designed to encourage wider merchant adoption. The central bank believes these efforts have already improved merchant acceptance and increased digital transaction volumes nationwide. Alongside PayPak, the SBP continues expanding Raast, Pakistan’s instant digital payment platform. Raast Merchant Payments Continue Rapid Growth According to official figures, the federal government allocated Rs3.5 billion for a Raast QR code subsidy programme during fiscal year 2025-26. Daily person-to-merchant (P2M) transactions increased from approximately 60,000 in June 2025 to around 1.1 million by June 2026, reflecting growing acceptance of QR-based digital payments. The SBP plans to continue expanding merchant participation while promoting QR code payments across Pakistan to support a more digitally connected economy. Domestic Payment Network Could Strengthen Financial Independence If approved, the proposal could significantly expand the use of PayPak cards throughout Pakistan’s public sector while supporting the government’s broader objective of strengthening domestic payment infrastructure. Greater adoption of PayPak and Raast could help reduce transaction costs, improve financial inclusion, enhance digital payment acceptance, and lessen reliance on international card networks. However, successful implementation will depend on expanding merchant acceptance, strengthening payment infrastructure, and ensuring a smooth transition for both government institutions and consumers.

AJK Elections 2026: PM Shehbaz Applauds PML-N Victory
Pakistan

AJK Elections 2026: PM Shehbaz Applauds PML-N Victory

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Prime Minister Shehbaz Sharif on Monday congratulated the Pakistan Muslim League-Nawaz (PML-N) leadership and its successful candidates after unofficial results of the AJK elections 2026 showed the party securing a commanding lead in the second phase of polling. According to unofficial results announced by the Azad Jammu and Kashmir Election Commission, the PML-N won 14 of the 18 seats contested on Sunday, significantly strengthening its position to form the next government in the region. The Pakistan Peoples Party (PPP), the PML-N’s coalition partner at the federal level, secured the remaining four seats but alleged electoral irregularities, rigging and incidents of violence during polling. The elections are being held in three phases due to security considerations. The first phase concluded in the Mirpur division, while the second phase covered the Muzaffarabad division and refugee constituencies. The third and final phase will take place in the Poonch division. PM Shehbaz Says Results Reflect Public Confidence According to a statement issued by the Prime Minister’s Office, Prime Minister Shehbaz Sharif congratulated former prime minister Nawaz Sharif, party leaders and the victorious candidates on the party’s performance. “The continuation of this success is the result of the hard work of Nawaz Sharif and the entire PML-N team,” the prime minister said. He added that the election outcome reflected the confidence of the people of Azad Jammu and Kashmir in the policies and leadership of the ruling party. The prime minister reaffirmed the federal government’s commitment to the development of AJK and pledged continued efforts to improve the welfare and living standards of the region’s residents. He also appreciated the participation of political parties in the electoral process, saying active democratic engagement would further strengthen democratic institutions. Breakdown of Unofficial Results Chief Election Commissioner Justice (retd) Ghulam Mustafa Mughal announced the unofficial results during a press conference in Muzaffarabad. According to the Election Commission, the PML-N secured victories in the following constituencies: The PPP won the following four constituencies: Polling in LA-27 and at several polling stations in LA-28 was postponed after severe weather conditions and landslides prevented election staff from reaching the affected areas. Rana Sanaullah Claims PML-N Has Secured Majority Prime Minister’s Adviser on Political Affairs Rana Sanaullah said the PML-N had secured a simple majority in the 45-member Azad Jammu and Kashmir Legislative Assembly. Speaking at a press conference alongside Minister for Kashmir Affairs Amir Muqam, he said the party had won 23 seats overall, enough to form the next government. He added that the PML-N had secured four of the seven territorial seats in the Muzaffarabad division, while the PPP won the remaining three. Rana Sanaullah rejected allegations of electoral rigging and urged the PPP to pursue legal and constitutional avenues if it had concerns regarding the electoral process. He also accused opposition parties of attempting to create instability and disrupt polling in certain constituencies. Violence and Rigging Allegations Overshadow Polling Despite the successful completion of the second phase, several incidents of violence were reported, particularly in Muzaffarabad. The PPP alleged that one of its workers, Syed Mushtaq Shah, was killed during clashes involving supporters of rival political parties. The PML-N rejected the allegation, maintaining that the individual had died after suffering a cardiac arrest rather than as a result of violence. Meanwhile, AJK Legislative Assembly Speaker Chaudhry Latif Akbar claimed there had been an attempt on his life and called for a thorough investigation into the incident. Election authorities have not yet issued an official response regarding these allegations. Outside Azad Jammu and Kashmir, polling remained largely peaceful, although voter turnout was reported to be relatively low in several areas, including Mohmand and Dera Ghazi Khan. Final Phase to Determine Complete Assembly Composition With two of the three election phases now completed, attention has shifted to the final round of polling in the Poonch division, which will determine the complete composition of the Azad Jammu and Kashmir Legislative Assembly. The Election Commission is expected to announce the official and complete results after voting concludes in the remaining constituencies. While the unofficial results have given the PML-N a significant advantage, the final phase will formally complete the electoral process and pave the way for the formation of the next AJK government.

Carmakers Force Government to Scrap EV-Focused Auto Policy
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Carmakers Force Government to Scrap EV-Focused Auto Policy

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Pakistan’s proposed Auto Policy 2026-31 has been sent back to the drawing board after local automobile manufacturers raised strong objections to its heavy emphasis on electric vehicles (EVs). The government has restarted the policy drafting process following industry concerns that the original proposal placed conventional automakers and parts manufacturers at a competitive disadvantage. The policy reversal comes at a critical time for Pakistan’s automotive sector, as the previous Auto Industry Development and Export Policy 2021-26 expired on June 30, 2026. The absence of a replacement policy has already led to higher taxes on hybrid vehicles, price increases, and uncertainty across the industry. Government Reviews EV-Focused Auto Policy After Industry Objections The Ministry of Industries and Production had prepared the draft Auto Policy 2026-31 after consultations with various stakeholders, with a strong focus on accelerating the adoption of electric vehicles. Officials viewed the transition to EVs as a strategic response to Pakistan’s growing fuel import bill, particularly after renewed geopolitical tensions highlighted the country’s dependence on imported petroleum products. Pakistan currently imports around 80 percent of its petroleum requirements, making fuel security a major economic concern. However, local automobile manufacturers approached Prime Minister Shehbaz Sharif, arguing that the proposed policy disproportionately favoured electric vehicles while creating challenges for existing manufacturers of conventional and hybrid vehicles. According to sources, the prime minister directed that the draft be withdrawn and ordered the formation of a new committee to prepare a revised policy that addresses industry concerns. Policy Delay Triggers Higher Taxes and Vehicle Prices The delay in finalising the new policy has had immediate consequences for both manufacturers and consumers. With the expiry of the Auto Industry Development and Export Policy 2021-26 on June 30, the Federal Board of Revenue automatically restored the general sales tax on vehicles to 25 percent. Hybrid electric vehicles and plug-in hybrid electric vehicles, which previously benefited from a reduced GST rate of 8.5 percent, lost that concession from July 1. As a result, several automakers, including Toyota and Honda, increased the prices of hybrid models by more than Rs1.3 million in certain cases. Some manufacturers also temporarily suspended vehicle invoicing and deliveries while awaiting policy clarity. Auto Parts Industry Calls for Gradual EV Transition The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) and other industry stakeholders have expressed disappointment over the uncertainty surrounding the new policy. Rather than opposing electric vehicles, industry representatives have called for a gradual transition that balances environmental objectives with the protection of local manufacturing. PAAPAM has proposed maintaining an 18 percent GST on hybrid vehicles until Pakistan develops sufficient EV charging infrastructure and a domestic supply chain for electric vehicle components. The association also wants government incentives to be linked to progressively higher localisation targets, encouraging manufacturers to produce batteries, electric motors and electronic components within Pakistan instead of relying on imports. Industry representatives argue that existing auto parts manufacturers should receive financial and technical support to upgrade their facilities and transition toward EV production. Concerns Over Local Manufacturing and Employment One of the industry’s biggest concerns is that excessive incentives for imported EV kits could weaken Pakistan’s domestic manufacturing base. PAAPAM warned that without a well-planned transition strategy, generous concessions for imported electric vehicle components could undermine local investment, reduce value addition and threaten thousands of jobs in the automotive supply chain. The association stressed that all existing manufacturers should be given equal opportunities to introduce electric and hybrid vehicles while continuing to expand local production capabilities. Industry leaders believe that technology transfer and localisation should remain central objectives of any future automotive policy to strengthen Pakistan’s long-term industrial competitiveness. Future Auto Policy Must Balance Innovation and Industry Growth The government’s decision to redraft the Auto Policy 2026-31 highlights the challenge of balancing Pakistan’s transition toward cleaner transportation with the need to protect domestic manufacturing and employment. While expanding electric mobility remains an important objective for reducing fuel imports and lowering emissions, industry stakeholders argue that the shift must be supported by local production, infrastructure development and a realistic transition roadmap. The revised policy will be closely watched by manufacturers, investors and consumers alike, as it will shape the future direction of Pakistan’s automotive industry for the next five years. Future Success Depends on Balanced Policy Implementation Pakistan’s next auto policy will need to strike a careful balance between promoting electric vehicles and safeguarding the country’s existing automotive ecosystem. Encouraging localisation, supporting technology transfer and providing a gradual transition framework could help ensure that the industry remains competitive while advancing toward cleaner and more sustainable transportation.

Saudi Falcon Vision Group eyes $10b investment in Pakistan
World

Saudi Falcon Vision Group eyes $10b investment in Pakistan

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Saudi Arabia’s Falcon Vision Group has expressed interest in investing up to $10 billion in Pakistan across infrastructure, construction, technology and industrial sectors, signalling growing confidence in the country’s investment potential. The announcement came during a meeting between Federal Minister for Board of Investment (BOI) Qaiser Ahmed Sheikh and a high-level Saudi delegation, where the government assured investors of full support and facilitation. The proposed investment, if materialised, would rank among the largest foreign investment commitments discussed in recent years. However, the projects remain at the expression of interest stage, with no formal investment agreements announced so far. Saudi Falcon Vision Group Explores Investment Opportunities in Pakistan According to the Board of Investment, the minister met a delegation comprising Saudi business leaders, overseas Pakistanis and media representatives. The delegation was led by Muhammad Tariq Ghaus, Vice Chairman and President of the Jeddah-based Falcon Vision Group, who briefed the minister on the company’s diversified business operations across multiple sectors. During the meeting, Ghaus said the group was seriously evaluating Pakistan as an investment destination and had earmarked up to $10 billion for potential projects spanning infrastructure, construction, technology and industrial development. Minister Qaiser Ahmed Sheikh welcomed the interest, describing it as a positive sign of growing international confidence in Pakistan’s economy and investment climate. Government Highlights Investor Incentives The BOI minister highlighted several incentives available to foreign investors, particularly within Pakistan’s Special Economic Zones (SEZs). He noted that businesses established in SEZs can benefit from income tax exemptions until 2035, along with customs duty concessions on the import of machinery and equipment. Sheikh also pointed to the government’s Business Facilitation Centres, which operate as one-window platforms enabling investors to complete company registration, licensing and other regulatory procedures at a single location. He reaffirmed that Pakistan allows 100 percent repatriation of profits and provides equal treatment to both domestic and foreign investors under existing investment policies. The minister acknowledged that concerns regarding energy costs and administrative procedures remain important issues but said the government is actively implementing reforms to improve the ease of doing business. Technology Zone and Commercial Projects Discussed The delegation also presented several potential investment proposals during the meeting. Delegation member Maqbool, associated with real estate developments including J7 Emporium, discussed plans to establish a Special Technology Zone aimed at supporting innovation and technology-based businesses. He stressed the importance of creating stronger coordination between Special Technology Zones and Special Economic Zones to maximise investment opportunities. In response, the minister noted that SEZ regulations had recently been amended to allow greater private sector participation in the establishment and management of economic zones. Separately, Colonel Jamshed briefed the minister on a proposed joint venture to develop a modern shopping mall in Chakwal, highlighting the district’s skilled workforce and relatively high literacy rate as key advantages for commercial investment. Investment Interest Reflects Growing Regional Engagement The discussions form part of Pakistan’s broader strategy to attract foreign direct investment through regulatory reforms, investor-friendly policies and streamlined approval processes. Saudi Arabia has emerged as one of Pakistan’s key economic partners in recent years, with both countries exploring opportunities across energy, mining, infrastructure and industrial development. While Falcon Vision Group’s proposed investment remains subject to detailed project evaluation and future agreements, the interest reflects continued engagement between Saudi investors and Pakistan’s expanding investment landscape. Future Progress Will Depend on Project Execution The expression of interest from Falcon Vision Group is an encouraging development for Pakistan’s investment ambitions. However, translating proposed investments into completed projects will depend on regulatory approvals, commercial feasibility and timely execution. If successfully realised, the planned investments could support infrastructure development, technology growth and industrial expansion while strengthening economic ties between Pakistan and Saudi Arabia.

Arshad Nadeem's Title Defense Ends in Disappointment, Fatima Zahra Delivers Pakistan's Only Commonwealth Games Medal
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Arshad Nadeem’s Title Defense Ends in Disappointment, Fatima Zahra Delivers Pakistan’s Only Commonwealth Games Medal

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Pakistan finally has a reason to celebrate at the Commonwealth Games 2026 after boxer Fatima Zahra secured the country’s first medal of the tournament, bringing home a historic bronze in women’s boxing. Her achievement not only ended Pakistan’s 12-year boxing medal drought at the Commonwealth Games but also highlighted the untapped potential of women’s sports in the country. While much of Pakistan’s attention was focused on Olympic javelin champion Arshad Nadeem, it was Fatima Zahra who emerged as the nation’s brightest performer. Her bronze medal offered a rare moment of celebration after Nadeem’s unexpected exit from medal contention in the men’s javelin event. Pakistan Commonwealth Games 2026 Medal Ends 12-Year Boxing Drought Fatima Zahra’s campaign has become one of Pakistan’s most inspiring sporting stories in recent years. Earlier in the tournament in Glasgow, Zahra defeated New Zealand’s Jordan Wilson by a dominant 5-0 unanimous decision in the women’s 60kg quarter-final. Under Commonwealth Games boxing rules, reaching the semi-finals guaranteed her at least a bronze medal, as both losing semi-finalists receive bronze. The achievement ended Pakistan’s 12-year wait for a boxing medal at the Commonwealth Games, according to the Pakistan Boxing Federation. It also marked another important milestone for women’s sports in Pakistan, demonstrating that female athletes can compete successfully on the international stage despite limited resources and opportunities. In the semi-final, Zahra lost to Canada’s Marie Al Mahdieh, who advanced to claim the silver medal. Although she narrowly missed a place in the final, Zahra’s bronze has already secured her place in Pakistan’s sporting history. Speaking after the bout, Zahra expressed hope that her achievement would inspire more young girls to take up boxing. She also urged authorities to provide greater support through improved training facilities, international exposure and better funding for female athletes. Fatima Zahra’s Success Highlights the Need for Greater Investment Fatima Zahra’s bronze medal is more than an individual success—it also shines a spotlight on the need for stronger institutional support for women’s sports in Pakistan. Female athletes often compete with fewer resources, limited coaching opportunities and significantly less international exposure than their male counterparts. Despite these challenges, Zahra’s performance proved that talent can flourish when given the opportunity. Sports experts believe Pakistan must now build on this momentum by investing in modern coaching programmes, grassroots talent development and equal opportunities across all sporting disciplines. Without long-term planning, individual achievements risk remaining isolated successes rather than becoming the foundation of sustained international competitiveness. Arshad Nadeem Falls Short in Javelin Title Defence While Pakistan celebrated its first medal of the Games, the men’s javelin final produced a major disappointment. Olympic champion Arshad Nadeem entered the competition as one of the favourites but failed to finish among the top eight, ending his title defence well below expectations. Instead, Sri Lanka’s Rumesh Tharanga Pathirage claimed the gold medal with an impressive throw of 89.75 metres. India’s Neeraj Chopra secured the silver medal, while fellow Indian athlete Yash Vir Singh took bronze. Nadeem finished ninth, an outcome that surprised fans given his recent international success and reputation as one of the world’s leading javelin throwers. Although one disappointing performance does not diminish his remarkable achievements, the result highlights the intense level of competition in world athletics. It also raises important questions about preparation, consistency and recovery ahead of future international events. Pakistan’s Campaign Offers Both Celebration and Reflection Pakistan’s campaign at the Commonwealth Games 2026 has delivered both encouraging moments and valuable lessons. Fatima Zahra’s historic bronze medal demonstrates the growing potential of women’s sports in Pakistan and provides inspiration for the next generation of athletes. At the same time, Arshad Nadeem’s unexpected finish serves as a reminder that sustained international success requires continuous preparation, investment and strong support systems. For Pakistan to become a consistent medal-winning nation, sporting authorities must move beyond celebrating individual achievements and focus on building a long-term strategy centred on athlete development, modern infrastructure and equal opportunities. If those foundations are strengthened, Fatima Zahra’s success could mark the beginning of a new era for Pakistani sport. Future Success Depends on Long-Term Sports Development Pakistan’s first Commonwealth Games 2026 medal is a significant achievement, but it also highlights the work that remains. Fatima Zahra’s bronze has ended a long medal drought in boxing and showcased the immense potential of female athletes, while Arshad Nadeem’s disappointing finish underlines the importance of continuous preparation at the highest level. Converting isolated successes into consistent international performances will require sustained investment, better governance and long-term planning across Pakistan’s sporting ecosystem.

The Boardroom PK delivers trusted business news, analysis, and insights from Pakistan and beyond, keeping readers informed, inspired, and ahead in the evolving world of business and leadership.

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