Business

Pakistan-based pharmaceutical giant GlaxoSmithKline Pakistan Limited reported an impressive 23% year-on-year increase in net profit for the first quarter ending March 2026, highlighting robust operational performance and improved cost efficiency. Read More: https://theboardroompk.com/govt-allocates-rs4-4-billion-to-clear-pia-retirees-dues-amid-ongoing-restructuring/ The company’s net earnings rose to Rs2.61 billion, up from Rs2.13 billion in the same period last year, while earnings per share climbed to Rs8.20 from Rs6.68. This growth was largely driven by stronger revenues and controlled production costs. Net sales increased by 9% to Rs17.03 billion, whereas the cost of sales grew at a slower pace of 4%, allowing gross profit to jump 20% to Rs6.38 billion. Despite a rise in operating expenses—including higher spending on marketing, distribution, and administration—the company maintained solid profitability. Operating profit expanded by 19% to Rs4.31 billion, supported by improved margins. A major boost came from a sharp decline in financial charges, which dropped by around 80% to just Rs23 million. This reduction significantly strengthened profit before tax, which increased by over 20% to Rs4.29 billion. Even after a higher tax burden of Rs1.68 billion, the company successfully delivered strong bottom-line growth, underscoring its resilience and operational discipline in a challenging economic environment. Overall, the results reflect a combination of steady revenue expansion, effective cost management, and reduced debt-related expenses—positioning GLAXO as a strong performer in Pakistan’s pharmaceutical sector.

KARACHI: Chairman Businessmen Group Zubair Motiwala and President Karachi Chamber of Commerce & Industry (KCCI), Muhammad Rehan Hanif have highly appreciated Federal Minister for Maritime Affairs Junaid Anwar Chaudhry, Chairman Karachi Port Trust (KPT) Rear Admiral (Retd.) Shahid Ahmed and KPT Trustee Abdullah Zaki for facilitating the country’s export sector through substantial relief in storage and demurrage charges at Karachi Port. Read More: https://theboardroompk.com/mondelez-dominates-effie-awards-2026-with-6-awards-accolades/ In a joint statement issued here, Zubair Motiwala and Rehan Hanif paid glowing tribute to Maritime Affairs Junaid Anwar Chaudhry for spearheading a series of decisive and timely measures aimed at safeguarding exporters’ interests during a period of heightened global shipping disruptions, particularly affecting Gulf-bound consignments. They also commended Chairman KPT Shahid Ahmed and KPT Trustee Abdullah Zaki for their proactive role in engaging terminal operators and ensuring swift implementation of relief measures for the business community. They noted that following effective coordination by the Ministry of Maritime Affairs and KPT, leading terminal operators including Karachi Gateway Terminal Limited (KGTL), Karachi International Container Terminal (KICT), and South Asia Pakistan Terminals (SAPTL) agreed to provide significant concessions in storage and demurrage charges for export containers, particularly those destined for Gulf countries that had been held up due to extraordinary circumstances. This pro-business step would surely provide much-needed financial breathing space to exporters struggling with rising logistics costs, they added. Zubair Motiwala and Rehan Hanif emphasized that this landmark initiative reflects the government’s strong commitment to protecting Pakistan’s export competitiveness at a time when global maritime trade has been facing unprecedented challenges, including regional tensions and supply chain disruptions.They were of the view that these measures are part of a broader reform agenda under Minister Junaid Anwar Chaudhry, who has been actively pursuing policies to transform Karachi Port into a regional transshipment hub, including incentives in port dues, berthing, and storage to boost trade activity and attract international shipping lines. The timely reduction in storage and demurrage charges has come as a major relief for exporters, particularly those dealing with Gulf markets, who were facing severe financial stress due to unexpected delays. This intervention has not only reduced cost pressures but has also restored confidence within the business community, they stated. Chairman BMG and President KCCI further remarked that such business-friendly policies are essential for enhancing Pakistan’s export performance, improving port efficiency, and strengthening the country’s position in regional and global trade corridors. They expressed hope that the Ministry of Maritime Affairs and KPT would continue to engage with stakeholders and introduce further facilitative measures to streamline port operations, reduce the cost of doing business, and fully realize the potential of Pakistan’s blue economy. While reaffirming KCCI’s full support to the government’s reform initiatives, Zubair Motiwala and Rehan Hanif reiterated the Chamber’s commitment to working closely with all relevant authorities to promote sustainable economic growth and export-led development.

Pakistan’s rapidly expanding e-commerce sector is facing a growing source of value leakage, with billions lost at the checkout stage despite strong consumer demand. Read More: https://theboardroompk.com/pakistan-power-sector-overhaul-nepra-concurrence-regulations-2026-reshape-energy-investment/ Across Asia, merchants are losing an estimated $72 billion annually to checkout inefficiencies, according to a new Payoneer white paper. Within this broader regional challenge, Pakistan alone accounts for a substantial $1.61 billion in annual revenue loss at checkout, underscoring a significant gap in the country’s digital trade ecosystem. This value gap is led by $0.97 billion lost to cart abandonment, followed by $0.46 billion in settlement delays and $0.18 billion in FX and payment-related leakage. Despite strong buyer intent, many transactions fail to convert at checkout due to payment declines, unclear costs, and delayed settlement, limiting the revenue businesses ultimately capture. Cart abandonment remains the largest contributor, accounting for over 60% of the total loss, primarily driven by friction at checkout, such as unexpected fees and payment-related drop-offs. For cross-border sellers, this challenge becomes more pronounced as global buyers increasingly expect localized payment methods and transparent pricing in their own currency. At the same time, layered payment systems and foreign exchange costs continue to erode merchant margins. As transactions move across multiple intermediaries, businesses lose a portion of their revenue at each step, reducing overall profitability. Settlement delays further compound the issue by locking up funds in transit, restricting cash flow at a time when businesses need liquidity to fulfil orders and scale operations. The findings highlight a structural gap in Pakistan’s e-commerce ecosystem. While businesses are increasingly tapping into global markets, the financial systems supporting cross-border transactions have yet to fully catch up. Industry insights suggest that addressing these inefficiencies requires a more structured approach to payments and settlement. This starts with identifying where transactions fail and where value is lost across the payment lifecycle, followed by reducing fragmentation by streamlining payment and banking relationships. Strengthening checkout through localized payment methods and clear, local-currency pricing can help improve conversion, while faster and more predictable settlement cycles are critical to unlocking liquidity and improving cash flow. As Pakistan positions itself within Asia’s fast-growing digital economy, improving checkout conversion, payment flows, and settlement efficiency could unlock significant value, turning lost revenue into realized growth for exporters and online sellers alike.

On April 24th, NextGen Auto Pvt. Ltd under the Nishat Group from Pakistan and premium new energy mobility brand iCAUR International officially signed a strategic cooperation agreement in Beijing. Both sides will combine their strengths to expand iCAURs presence in Pakistan, promoting the growth of the country’s new energy mobility ecosystem through technology integration and localized collaboration. Company representatives, industry experts, and media gathered to witness this milestone partnership. As one of Pakistan’s leading business groups, Nishat Group operates across key sectors including textiles, cement, banking, insurance, power, and agriculture. With solid industry experience and refined operations, it plays an important role in driving the country’s economic growth. The group covers a full industrial chain spanning manufacturing, finance, and energy, with strong capabilities in resource integration and market expansion. This partnership with iCAUR International marks a key step in Nishat Group’s expansion into the new energy sector. It brings in advanced technologies to support a more sustainable transformation of Pakistan’s automotive industry and strengthen its competitiveness in the local market. iCAUR focuses on creating new energy vehicles that combine classic design, smart technology, and sustainability. Built on its strengths in electrification and intelligent systems, iCAUR features industry-leading i-AWD (intelligent All-Wheel Drive) system and the Golden REEV (Range-Extended Electric Vehicle), along with global quality standards. It delivers a smooth experience for daily commuting, worry-free long-distance travel, and confident off-road performance. The brand is designed for those with a sense of style and a spirit of exploration, from urban explorers to outdoor adventurers. Together with its users, iCAUR aims to create a lifestyle that blends classic design, user-oriented technology, and shared sustainability. This strategic partnership marks the beginning of cooperation between Nishat Group and iCAUR International in Pakistan’s new energy market. Driven by innovation and focused on user needs, both sides will work together to build a complete system covering products, services, and the broader ecosystem. It aims to bring smarter and more sustainable mobility to consumers in Pakistan, while contributing new momentum to the country’s economic and environmental development. At the same time, iCAUR’s modified models and the AiMOGA robots at the Beijing Auto Show were well received.

Karachi: DIB Pakistan and Pocket Money have entered a strategic partnership to enable seamless US Dollar-to-Rupee cashouts across Pakistan, bringing a new level of speed, compliance, and convenience to both cross-border home remittances, and international transactions for freelancers. Read More: https://theboardroompk.com/fbr-suspends-valuation-hike-for-used-mobile-phones-after-sindh-high-court-intervention/ This partnership marks a significant milestone in Pakistan’s digital financial landscape, by combining DIB Pakistan’s growing presence and ethical finance with Pocket Money’s user-focused platform. The two companies aim to set a new standard for compliant, accessible cross-border payments. This initiative will bring more of Pakistan’s growing freelance and remote workforce into the formal economy. Muhammad Ali Gulfaraz, CEO, DIB Pakistan, stated “DIB is committed to enabling innovative, secure, and ethical financial solutions that meet the evolving needs of our customers. Our partnership with Pocket Money represents a meaningful step forward for Pakistan’s digital payments ecosystem, providing a seamless, regulated pathway for US Dollar inflows to reach individuals in Rupees. We believe this will empower freelancers, remote workers, and families across the country with faster, more reliable access to their earnings, while strengthening the formal economy.” Moe Jangda, CEO, Pocket Money commenting on the occasion, stated, “With DIB Pakistan’s regulated infrastructure, Pocket Money users can now process their US Dollar earnings on a secure and trusted platform. This partnership delivers a defining capability for our users, backed by a name they already know and trust.” The collaboration is underpinned by formal regulatory approval: following DIB’s application to the State Bank of Pakistan, the specific use case was sanctioned, establishing a fully compliant and regulated framework for the service. About DIB Pakistan DIB Pakistan Ltd is a regulated financial institution offering a range of banking and payment solutions in Pakistan, with a focus on innovation, compliance, and customer-centric service. About Pocket Money Pocket Money is a digital financial platform offering US Dollar Accounts and cross-border payment solutions to users in Pakistan, enabling seamless receipt and conversion of international funds.

The State Bank of Pakistan (SBP) has increased the policy rate by 100 basis points to 11.50 percent. This decision takes effect from April 28, 2026, following the Monetary Policy Committee meeting on April 27. Read More: https://theboardroompk.com/ke-ventures-appoints-adeeb-ahmad-as-ceo/ Business Community Reacts Strongly Pakistan Business Forum (PBF) expressed surprise over the rate hike. They questioned why the government continues to overlook the ease of doing business. The increase in interest rates will create further difficulties for the private sector in accessing loans. This was stated by PBF President Khawaja Mahboob-ur-Rehman. Current business costs in Pakistan are already 34 percent higher than in the region. The forum highlighted this gap as a major challenge for competitiveness. Impact on Investment and Growth Business leaders expected a single-digit interest rate to encourage both local and foreign investors. The hike has dashed those hopes. PBF urged the government to seize the opportunity to bring back Pakistani investments from Dubai. They said serious policy measures are needed for this. Just three days ago, the government raised petroleum levy by Rs27. Now this rate increase adds more pressure on businesses. Calls for Rupee Stability PBF believes the upcoming budget will focus heavily on new taxes. They see the monetary policy as a clear signal in this direction. If the IMF is effectively running the economy, the business community should be informed clearly. The forum demanded transparency. Considering current foreign exchange reserves, the rupee should be around 240 against the US dollar, according to PBF. Rapid depreciation of the rupee was a key reason for economic distortions. Strengthening the currency could resolve half the problems. Way Forward The economy now needs to shift towards growth. Bold decisions are inevitable for sustainable recovery.The government must create a business-friendly environment. In return, the business community is ready to provide full economic support. PBF also noted that while UAE investments were returned, Pakistani taxpayers continue to pay $207 million in annual interest on related debts. Keywords: SBP Policy Rate, Pakistan Business Forum, Interest Rate HikeMeta Description: SBP raises policy rate by 100bps to 11.50%. Pakistan Business Forum criticizes the move, warning of higher borrowing costs and challenges for private sector growth and investment.