Business

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

Gul Ahmed Textile Mills Limited has announced that its Board of Directors has approved the acquisition of an industrial property in the Sindh Industrial Trading Estates (SITE), Noorlabad, District Jamshoro. The decision, shared in a notice to the Pakistan Stock Exchange (PSX) on Thursday, includes the purchase of Plot No. A-44 along with the associated land, building, plant, machinery, equipment, and other assets, subject to completion of all necessary legal, regulatory, and corporate formalities. The company stated that the Chief Executive Officer has been authorised to carry out the transaction independently. Additionally, the Chief Financial Officer and Company Secretary have been empowered to act jointly to perform all tasks and formalities required to finalise and give effect to the acquisition. The board emphasised that the move forms part of the company’s strategic efforts to expand its operational footprint and strengthen its presence in the industrial sector. Gul Ahmed Textile has requested the PSX to circulate the information to its members in accordance with Section 96 of the Securities Act, 2015, and the exchange’s regulations. This acquisition marks a significant step for Gul Ahmed Textile Mills, reinforcing its commitment to growth and operational efficiency while ensuring full compliance with corporate governance and regulatory requirements.

Islamabad, November 19, 2025 – Pakistan Petroleum Limited (PPL) is set to construct the country’s first artificial island 300 km off the Sindh coast to accelerate offshore oil and gas exploration, Bloomberg reported on Wednesday.Speaking on the sidelines of an oil and gas conference in Islamabad, PPL’s General Manager Exploration Arshad Palekar said the six-foot-high platform will shield operations from high tides, enabling 24/7 drilling. Drawing inspiration from Abu Dhabi’s successful artificial islands, construction is slated for completion in February 2026, with exploration commencing immediately.The project gains momentum from PPL’s recent farm-out agreement with Turkish Petroleum Overseas Company (TPOC) for the Eastern Offshore Indus C Block, strengthening Pakistan-Turkiye energy ties. Last month, Pakistan awarded 23 offshore blocks—the first such round in nearly two decades—to consortia led by local firms, some including foreign partners like TPAO. The initiative aims to narrow the widening oil and gas supply-demand gap through aggressive offshore exploration.

Karachi: Special Assistant to the Chief Minister of Sindh on Investment and Public-Private Partnership, Syed Qasim Naveed Qamar, held a productive meeting with Türkiye’s Consul General Ergul Kadak and Commercial Attaché Murat Ozmen at the Sindh Investment Department office to explore bilateral investment prospects. Qamar delivered a comprehensive briefing on high-potential sectors, spotlighting the Dhabeji and Khairpur Special Economic Zones (SEZs), Karachi Education City, Marble City Karachi, as well as opportunities in education, agriculture, renewable energy, IT, infrastructure, water recycling, environment, and industry. He emphasized government-backed initiatives such as the Sindh Transmission and Dispatch Company and attractive tax incentives for SEZ investors. The Turkish Consul General expressed keen interest, particularly in Karachi Education City. Qamar also highlighted Khairpur’s thriving date production sector and invited Turkish investment in value-added processing. He reaffirmed the provincial government’s commitment to establishing a new SEZ in Hyderabad, noting strong interest from motorcycle and electric appliance manufacturers. Secretary Investment Raja Khurram Shahzad briefed the delegation on Sindh’s rich mineral reserves and ongoing projects, underscoring the province’s investor-friendly policies and incentives.

slamabad: In a scathing indictment of customs oversight, the Federal Tax Ombudsman (FTO) has called for a comprehensive three-year audit of all cargo sheds operated by M/s Gerry’s Dnata across Pakistan, amid allegations of a multibillion-rupee fraud at Karachi’s Jinnah International Airport (JIAP).The FTO’s directive, issued on Tuesday, instructs the Federal Board of Revenue (FBR) to immediately initiate proceedings to suspend Gerry’s Dnata’s cargo shed license at JIAP. This follows a Show Cause Notice to the company’s CEO and a mandatory hearing, with potential full cancellation pending audit outcomes.Triggered suo motu by reports of high-value electronics being illicitly removed from customs custody since March 2024, the scam involved forged Goods Declarations (GDs) and bogus importers. Fraudsters allegedly reused clearance numbers from legitimate pharmaceutical shipments, evading duties on billions in goods.The FTO highlighted “inevitable” collusion by customs officials, labeling the repeated thefts – including prior mobile phone incidents – as systemic maladministration. Separate probes into implicated customs staff could lead to disciplinary action under E&D Rules 2020.Critics say the scandal exposes deep-rooted corruption in airport cargo handling, potentially costing the exchequer billions. Gerry’s Dnata, a joint venture with UAE-based dnata, has yet to respond publicly.

Islamabad: Pakistan intensified its global outreach for mining and minerals investment by holding high-level talks with Germany on Tuesday, building on recent engagements with the United States and France. Petroleum Minister Dr. Ali Pervaiz Malik met German Ambassador H.E. Ms. Ina Lepel and Political and Economic Counsellor Janine Rohwer at the Ministry of Energy to explore bilateral cooperation in mining, critical minerals, and sustainable energy. Ambassador Lepel described Pakistan’s natural resources sector as holding “a lot of potential” and highlighted the flagship Reko Diq copper-gold project in Balochistan as a critical test case for attracting international investors. She proposed technical collaboration between the Geological Survey of Pakistan and Germany’s Federal Institute for Geosciences and Natural Resources (BGR). Minister Malik emphasised the government’s push for modern, mechanised, and responsible mining, with Reko Diq – a joint venture led by Barrick Gold – setting new standards. He announced that the next Pakistan Mineral Investment Forum will be expanded to showcase opportunities to global players. The dialogue also covered energy transition, refinery upgrades to meet higher environmental standards, and Pakistan’s first offshore exploration bidding round in nearly two decades. Both sides expressed strong interest in green energy collaboration aligned with Germany’s decarbonisation goals. The meeting follows Pakistan’s $500 million MoU with the US on critical minerals (September), its first shipment of rare earth elements and antimony to America (October), and a high-level webinar with France on mining partnerships last week. Officials reaffirmed commitment to deepen the Pakistan-Germany strategic partnership through tangible investments, technology transfer, and knowledge sharing in the minerals and energy domains.