Author name: Web Desk

In the midst of an increasingly tense regional and global environment, Pakistan’s aviation sector has received a major boost with the arrival of the ferry flights of two aircraft for the newly launched SouthAir — the country’s first dedicated regional airline aimed at connecting underserved cities and towns of Balochistan, Southern Punjab, and Upper Sindh with the rest of Pakistan. At a time when international and Middle Eastern air corridors have faced serious disruptions due to the ongoing US–Israel–Iran conflict, SouthAir’s launch had temporarily slowed. However, the arrival of its much-awaited aircraft now signals a renewed momentum, with the airline expected to move rapidly towards the commencement of commercial operations. A spokesman for SouthAir stated that all key preparatory arrangements are progressing swiftly, including maintenance facilities, flight scheduling, operational readiness, and the rostering of cockpit and cabin crew. He added that a formal announcement regarding the launch of operations will soon be made in coordination with the Pakistan Civil Aviation Authority (CAA) and Pakistan Airports Authority (PAA).

Pakistan Petroleum Limited (PPL) has successfully commissioned the Faiz X-1 Deep (Basal Sand) well in Sindh’s Sanghar district after the project remained undeveloped for more than a decade due to infrastructure constraints. In a notice submitted to the Pakistan Stock Exchange (PSX) on Friday, Pakistan Petroleum Limited (PPL)announced that the well has now entered production following the completion of technical and operational upgrades. The company stated that it is the operator of the Gambat South Block and confirmed the successful commissioning of the Faiz X-1 Deep well, marking a significant development for Pakistan’s oil and gas sector at a time when the country continues to face energy challenges. Well Remained Inactive Since 2014 According to PPL, the well was originally drilled in 2014. However, the absence of nearby pipeline infrastructure prevented commercial development of the discovery for years. The company explained that the project was initially considered uneconomical because there was no connectivity available for transporting gas from the well to processing facilities. PPL later carried out a comprehensive technical and economic re-evaluation after pipeline connectivity with nearby wells became possible. Following the reassessment, the company concluded that the Basal Sand interval could now be developed commercially. As a result, the exploration and production company initiated well intervention operations and surface facility work to bring the long-delayed discovery into production. Pipeline Connectivity Enabled Commercial Production PPL stated that several key activities were completed before commissioning the well. These included isolation of deeper intervals, well intervention jobs, installation of surface facilities, and the construction of nearly 4.5 kilometres of feeder pipeline. The feeder line connected the Faiz X-1 Deep well to the existing gas gathering network for onward supply to the Gambat South Gas Processing Facilities. The company confirmed that the well officially entered production on February 25, 2026. Production levels were gradually increased in phases to optimise operational performance. According to the notice, the well is currently producing around 3.6 million standard cubic feet per day (MMscfd) of gas along with approximately 750 barrels per day (bpd) of condensate. Energy Sector Receives Boost The successful commissioning of the well is expected to support Pakistan’s domestic energy production at a time when the country remains heavily dependent on imported fuel and liquefied natural gas (LNG). Industry experts believe that increasing indigenous gas production can help reduce pressure on foreign exchange reserves and lower energy import costs in the long term. Pakistan has been struggling with declining natural gas reserves and rising demand from industrial, commercial, and domestic consumers. Several exploration and production companies have recently accelerated efforts to revive dormant discoveries and expand existing infrastructure. The development of the Faiz X-1 Deep well reflects a broader trend in the sector where companies are revisiting older discoveries using improved economic models and upgraded infrastructure. PPL’s Role in Pakistan’s Energy Sector PPL remains one of Pakistan’s largest exploration and production companies and plays a major role in the country’s hydrocarbon sector. The company is involved in exploring, developing, and producing oil and natural gas resources across multiple regions of Pakistan. It operates several key fields and contributes significantly to the national gas supply network. Over the years, PPL has focused on expanding domestic energy production through exploration activities, infrastructure development, and partnerships in strategic energy projects. The commissioning of the Faiz X-1 Deep well adds another producing asset to the company’s portfolio and highlights the importance of infrastructure connectivity in unlocking stranded energy resources.

Karachi (Staff Reporter):The Aga Khan Foundation Pakistan, in collaboration with Bank Alfalah, has launched a rehabilitation program worth Rs. 66 million aimed at improving critical infrastructure and strengthening communities in flood-affected areas of Gilgit-Baltistan. The program was initiated following the devastation caused by the monsoon floods in August 2025, which triggered flash floods, landslides, cloudbursts, and glacial lake outburst floods across the region. Under the project, multiple initiatives will be undertaken, including the restoration of clean drinking water supply systems for thousands of households, reconstruction of irrigation networks, revival of agricultural activities, and construction of flood protection infrastructure to reduce the risks of future natural disasters. In addition, disaster preparedness will be enhanced through the provision of winterized emergency tents. Bank Alfalah is contributing Rs. 50 million to the initiative, while the Aga Khan Foundation is contributing Rs. 7.05 million. The project will focus on improving access to clean water, restoring irrigation systems, implementing flood protection measures, and strengthening emergency shelter reserves. The initiative will directly benefit more than 10,600 people in the districts of Gilgit, Ghizer, and Hunza, while approximately 13,000 additional people are expected to benefit indirectly. The project also includes a contribution of Rs. 9.3 million for the installation of a 25-kilowatt solar power system at a school in Chitral, benefiting both students and teachers.President and Chief Executive Officer of Bank Alfalah Limited, Atif Bajwa, emphasized the bank’s commitment to community development in Pakistan, stating: “We are proud to launch this important rehabilitation initiative with the Aga Khan Foundation Pakistan, which reflects our commitment to responsible banking and meaningful investment in communities.”

Karachi: The Pakistan Business Forum says that the government could collect up to Rs 480 billion annually if a fixed tax of Rs 10,000 per month is imposed on shopkeepers in the upcoming budget, with no further questioning or documentation requirements, aiming to simplify compliance and broaden the tax base. In its budget proposals for the fiscal year 2026–27 to the Ministry of Finance, the forum urged a comprehensive strategy to steer the economy toward sustainable growth. President of the Pakistan Business Forum, Khawaja Mehboob ur Rehman, stated that the business community is currently facing significant frustration and uncertainty, emphasizing the need for immediate, business-friendly measures to restore confidence. The PBF has strongly recommended the complete abolition of the Super Tax, noting that it was initially introduced as a temporary measure but has effectively become permanent. The Forum underscored that Pakistan’s cost of doing business is currently estimated to be approximately 34 percent higher than that of regional competitors, making it imperative for the government to introduce targeted reforms to enhance competitiveness and attract investment.In this context, the Forum emphasized that the upcoming Federal Budget must prioritize reducing the cost of doing business while ensuring sustainable and equitable revenue generation. It stressed the need for policy measures that support economic growth, industrial expansion, and improved competitiveness in both domestic and international markets. To facilitate business activity, PBF reiterated its recommendation to repeal Sections 37AA, 37B, 14AC, and 14AD of the Finance Bill. It also proposed a gradual reduction in corporate tax rates to provide relief to the business community. To broaden the tax base and improve documentation of the economy, the Forum suggested the introduction of a fixed monthly tax of PKR 10,000 for traders, with simplified compliance mechanisms, and collection through electricity bills. As 4 million shops are in the country. The Forum further recommended rationalizing taxes and surcharges on electricity bills across domestic, industrial, and commercial sectors to reduce operational costs. It also called for improved access to credit finance, particularly for small and medium enterprises (SMEs) and startups, to promote entrepreneurship and inclusive economic growth. To support textile exports and revive the agriculture sector, PBF called for the abolition of sales tax on local cotton seed and oil cake, noting that domestic cotton production has declined sharply from approximately 15 million bales to nearly 5 million bales over the past four decades. Under the Green Pakistan Initiative, the Forum proposed a seven-year tax holiday for corporate farming to encourage large-scale agricultural investment and bring more land under cultivation. In the construction sector, the Forum recommended abolishing Section 7E and introducing amendments to Sections 8 and 8B to revive investment. The PBF also suggested reviewing the continuation of tax exemptions for FATA/PATA, noting that sufficient transitional time has already been provided under previous finance measures. Additional proposals include restricting non-filers from owning more than three vehicles, implementing effective measures to curb under-invoicing. The forum also proposed for enhancing transparency in housing societies (existing and new) all companies may directed to convert their status into a public limited structure with a requirement of 7 directors and this change would be introduced through the next Finance Bill. According to PBF, these measures will improve corporate governance, enhance tax collection, and safeguard public investment.