Author name: Web Desk

‎ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan held a meeting with a Chinese business delegation led by Mr. Huwang, Chairman of Challenges Fashion and Ms. Karen Chen, CEO of Challenge Apparel, to discuss investment in export-oriented manufacturing, industrial facilitation, tariff rationalization, and broader Pakistan-China economic cooperation.‎‎During the meeting, both sides exchanged views on the growing potential for Chinese investment in Pakistan, in the textiles, apparel and other sectors. The delegation briefed the Minister on the progress of their ongoing industrial project in Pakistan, sharing plans for significant expansion in manufacturing capacity, employment generation, and export growth.‎‎Mr. Huwang informed the Minister that the company is establishing a major manufacturing facility in Pakistan under international production standards, with the first phase expected to be completed later this year. He shared that the long-term expansion plan envisions one of the largest industrial operations of its kind, with the potential to create up to 20,000 employment opportunities and generate annual exports of approximately USD 400–500 million.‎‎The Chinese delegation highlighted Pakistan’s strategic advantages, including its competitive workforce, and geographic position linking regional and international trade routes. The investors expressed confidence in Pakistan’s industrial potential and expressed growing interest among Chinese businesses in expanding their presence in the country.‎‎Federal Minister Jam Kamal Khan welcomed the delegation and appreciated growing interest of Chinese companies to invest in Pakistan. He noted that the government is actively working to improve the investment climate, simplify regulatory procedures, and facilitate foreign investors through coordinated institutional support.‎‎The Minister highlighted the Prime Minister’s strong emphasis on attracting productive investment and promoting export-led economic growth, noting that investor facilitation remains a key government priority.‎‎During the discussion, the Minister observed that changing global economic dynamics, evolving supply chains, and growing interest in diversification are creating new opportunities for countries like Pakistan. He emphasized that Pakistan’s strategic location, industrial potential, and regional connectivity make it an increasingly attractive destination for export-oriented investment.‎‎The meeting also included discussion on regional connectivity, logistics, energy access, and the importance of secure and diversified trade corridors. The Minister stated that Pakistan’s position offers long-term opportunities for trade facilitation, industrial growth, and stronger economic integration with regional and international partners.‎‎Chinese representatives shared their positive operational experience in Pakistan while noting that international perceptions sometimes influence business decision-making abroad. Jam Kamal Khan acknowledged that perception remains an important factor and emphasized that Pakistan has made substantial progress in improving its business environment and strengthening investor protection.‎‎He stated that the government and relevant institutions remain fully committed to ensuring a stable and secure business environment, expressing confidence that continued improvements would further strengthen investor confidence.‎‎The delegation also raised specific operational requirements relating to specialized industrial construction materials and inputs that are currently not manufactured locally and to be imported to maintain international manufacturing and safety standards.‎‎Federal Minister Jam Kamal Khan assured the investors that the government remains committed to supporting industrial growth and facilitating industrial requirements. He informed the delegation that Pakistan is currently undertaking a phased tariff rationalization process aimed at improving competitiveness and reducing unnecessary costs for manufacturers.‎‎The Minister invited the delegation to formally submit details of specialized products not produced locally, along with relevant tariff classifications, so the Ministry could examine the matter within the ongoing tariff rationalization framework.‎‎He noted that facilitating such industrial requirements could also create opportunities for future local manufacturing once sufficient market demand emerges.‎‎The meeting also reviewed progress on project implementation, including land approvals, infrastructure matters, utility facilitation, and improvements in Special Economic Zone frameworks. The Minister informed the delegation that reforms are underway to reduce procedural hurdles and improve ease of doing business for industrial investors.

Karachi: Payoneer, the global financial technology company powering business growth across borders, today announced its financial results for the first quarter ended March 31, 2026, reporting continued growth across its SMB and enterprise business segments alongside strong profitability and rising global transaction volumes. Payoneer delivered $262 million in revenue in Q1 2026, representing 6% year-over-year growth, driven by strong momentum across SMB and enterprise customers. Revenue excluding interest income grew 11% year-over-year, while lower global interest rates contributed to a decline in interest income revenue. The company generated nearly $23 billion in total volume during the quarter, up 16% year-over-year, reflecting growing demand for Payoneer’s cross-border payment infrastructure across global trade and digital commerce. The company’s B2B business remained a key growth driver, with B2B volume reaching $3.9 billion during the quarter, marking a 44% year-over-year increase. Volume from SMBs selling on marketplaces reached $11.6 billion, while Checkout volume grew 53% year-over-year to $264 million. Enterprise payouts volume also continued its upward trajectory, nearing $7 billion in Q1 2026 with a 28% year-over-year increase. Payoneer also reported $30 million in operating income and $20 million in net income during the quarter, demonstrating continued operational discipline and profitability. Customer trust in the platform remained strong, with approximately $7.6 billion in customer funds as of March 31, 2026, up 15% year-over-year. Across regions, the company recorded broad-based growth, with Europe, Middle East and Africa revenue increasing 10% year-over-year to $65 million, Asia-Pacific revenue rising 14% to $58 million, and North America revenue growing 10% to $26 million during the quarter.Reflecting confidence in its long-term growth strategy and business momentum, Payoneer also raised its 2026 guidance on May 7, 2026. Commenting on the results, John Caplan, Chief Executive Officer, Payoneer, said: “In Q1 we delivered acceleration across major KPIs: revenue growth ex. interest accelerated to 11%, B2B volume growth more than doubled to 44%, and we delivered another quarter of significant core profitability expansion. We are driving broad-based momentum across our business, supported by differentiated assets that compound as we scale. We have infrastructure built on years of investment and innovation, network effects that strengthen as volumes grow, and platform depth that allows us to meet the needs of how our customers operate globally. We’re a profitable, scaled platform in a multi-trillion-dollar B2B market that’s still in the early innings of digitization, and our strong Q1 results demonstrate we’re capturing share. We are executing consistently, moving fast where we see opportunities, and building a business that’s not just larger, but structurally more valuable, with deeper strategic advantages and stronger customer relationships.” As Pakistan’s freelancer economy, exporters, and digitally enabled SMBs continue to expand globally, Payoneer remains focused on enabling seamless cross-border payments, multi-currency financial services, and international business growth for entrepreneurs and businesses across the country.

ISLAMABAD: Consumer Association of Pakistan Chairman Kaukab Iqbal has urged Senate Finance Committee Members to expand Third Schedule of Sales Tax Act to include essential grocery items such as cooking oil, dairy products, infant formula and frozen food so that retail prices are printed and consumers’ rights are protected. During the meeting, Kaukab Iqbal stated, “Under consumer protection principles, every consumer product should carry a clearly printed retail price to ensure transparency and protect consumers from overcharging.” He pointed out that these products are currently excluded from the Third Schedule requirement regarding mandatory printed prices, resulting in retailers charging different prices from consumers. He emphasized that due to unjustified price fluctuations, consumers often face sudden price jumps on essential household items, causing significant financial burden on the public. He further stated that transparent pricing is essential for safeguarding consumer rights, preventing exploitation, and creating fairness in the retail market. Senator Saleem Mandviwalla, Chairman of the Senate Standing Committee on Finance and Revenue, advised CAP to submit a detailed list of products on which retail prices are not printed, along with other grievances faced by consumers. He assured that the Committee remains available throughout the year to hear consumer concerns and welcomed continued engagement from the Consumers Association of Pakistan.