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CCP Allows Acquisition of Ranipur Sugar Mills by Saakh Pharma, United Ethanol
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CCP Allows Acquisition of Ranipur Sugar Mills by Saakh Pharma, United Ethanol

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ISLAMABAD, APRIL 22, 2026: The Competition Commission of Pakistan (CCP) has authorized the acquisition of majority shareholding in M/s. Ranipur Sugar Mills (Private) Limited by M/s. Saakh Pharma Limited and M/s. United Ethanol Industries Limited under Phase-I review. Read More: https://theboardroompk.com/attock-refinery-shutdown-disrupts-fuel-supply-as-tanker-movement-halted-in-pakistan/ The target company, M/s. Ranipur Sugar Mills (Private) Limited, is engaged in the manufacturing and sale of sugar along with related by-products and power generation through an in-house facility. The acquirers M/s. Saakh Pharma Limited is a public listed company engaged in the manufacturing and sale of pharmaceutical and biological products, while M/s. United Ethanol Industries Limited operates in the ethanol and industrial products segment within the broader agribusiness sector. During the proceedings, it was noted that the transaction had been consummated prior to obtaining the Commission’s approval. The Commission emphasized that pre-merger approval is a mandatory statutory requirement for notifiable transactions and must be obtained before their execution. The applicants have submitted an undertaking to ensure strict compliance with the law in future. From a competition perspective, the Commission determined that the transaction constitutes a conglomerate merger, with no significant horizontal overlap between the business activities of the parties and only limited vertical interaction. The Commission observed that the target’s market presence remains limited and that there is no evidence of any significant supply dependency or competitive concern arising from the transaction. Based on its assessment, the Commission concluded that the transaction is unlikely to result in the creation or strengthening of a dominant position or to substantially lessen competition in the relevant markets. Accordingly, the CCP has authorized the transaction under the law. The merger reflects ongoing consolidation and diversification trends within Pakistan’s sugar and allied industries, particularly in value-added segments such as ethanol and bio-based products. Such integrations can enhance operational efficiencies, promote resource optimization, and support the development of downstream industries, provided they remain within the framework of competition law. The Commission remains committed to facilitating investment and business growth while ensuring that market structures remain competitive and do not harm consumer welfare.

SECP Approves IPOs of Sitara Petroleum and LSE SPAC-I, PSX Listings Expand
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SECP Approves IPOs of Sitara Petroleum and LSE SPAC-I, PSX Listings Expand

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Pakistan’s capital market witnessed fresh momentum as the Securities and Exchange Commission of Pakistan (SECP) approves initial public offerings (IPOs) of two new companies, signaling growing investor confidence and increased corporate participation. The Securities and Exchange Commission of Pakistan on Wednesday granted approval for the IPOs of Sitara Petroleum Service Limited and LSE SPAC-I. Both companies will list their shares on the Pakistan Stock Exchange, according to an official press release. With these approvals, the total number of IPOs in the fiscal year 2025–26 has now reached 11, reflecting renewed activity in Pakistan’s equity market. Growing Trend of Capital Market Funding The latest development highlights a rising trend where companies prefer the stock market to raise capital for expansion and growth. The SECP approves IPOs at a time when businesses are actively seeking alternative financing channels beyond traditional banking systems. Officials noted that this trend is opening new investment avenues for individuals and institutions. It also indicates improving confidence in regulatory frameworks and market transparency. The SECP has allowed both companies to issue and publish their prospectuses. This step clears the way for their public offerings and formal entry into the market. SECP Urges Investor Caution While approving the IPOs, the SECP advised investors to carefully review the prospectuses before making investment decisions. The regulator emphasized the importance of informed investing in a dynamic market environment. Authorities reiterated their commitment to maintaining a transparent and investor-friendly system. The SECP approves IPOs under strict regulatory oversight to ensure fairness and accountability in the process. Sitara Petroleum IPO Details Sitara Petroleum Service Limited operates in Pakistan’s energy sector. The company is involved in fuel trading, retail operations, and transportation services. It functions as a dealer of gas and oil across various regions. As part of the SECP approves IPOs initiative, Sitara Petroleum will offer 168 million ordinary shares. The company will use the book-building method for price discovery and allocation. The offering represents 16.66 percent of its post-IPO paid-up capital. Of the total shares, 75 percent will go to institutional investors and high-net-worth individuals. The remaining 25 percent will be available for retail investors. This structure aims to balance participation between large investors and the general public. LSE SPAC-I The second company approved under the SECP approves IPOs framework is LSE SPAC-I. It marks a significant milestone as Pakistan’s first Special Purpose Acquisition Company (SPAC) under the public offering regime. SPACs are investment vehicles that raise funds through IPOs to acquire or merge with other companies. LSE SPAC-I plans to use its proceeds for strategic acquisitions within a three-year period. The company intends to acquire a 19.04 percent stake in Ningbo Green Light Energy Limited. This move indicates a cross-border investment strategy aimed at expanding into the energy sector. IPO Structure of LSE SPAC-I LSE SPAC-I will offer 5 million shares to the public. Unlike Sitara Petroleum, it will adopt a fixed price method for its IPO. This simpler pricing mechanism allows investors to subscribe at a predetermined price. It also reflects the unique nature of SPAC structures, which differ from traditional operating companies. The SECP approves IPOs of such innovative financial vehicles to diversify the investment landscape and attract new types of investors. Boost for Pakistan’s Equity Market Market analysts view the latest approvals as a positive signal for Pakistan’s financial ecosystem. The increasing number of IPOs indicates a shift toward capital market-based financing. The SECP approves IPOs at a time when the government is encouraging private sector growth and investment. More listings on the stock exchange can improve liquidity, transparency, and corporate governance. Investors also benefit from a wider range of opportunities, enabling them to diversify their portfolios. Strengthening Investor Confidence The steady flow of IPOs reflects strengthening investor confidence in Pakistan’s regulatory and financial systems. The SECP’s proactive approach plays a key role in building trust among stakeholders. By ensuring compliance and transparency, the regulator aims to protect investor interests while promoting market development. The SECP approves IPOs process also supports economic growth by channeling funds into productive sectors. IPO Activity Set to Accelerate Experts expect more companies to enter the market in the coming months. The success of recent IPOs may encourage other firms to consider public listings. With improved regulations and investor awareness, Pakistan’s stock market could witness sustained growth in the IPO segment. The approval of Sitara Petroleum and LSE SPAC-I represents another step toward a more vibrant and inclusive financial market.

HUBCO Profit Declines Despite Strong Operations Amid Rising Taxes
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HUBCO Profit Declines Despite Strong Operations Amid Rising Taxes

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Pakistan’s largest Independent Power Producer, Hub Power Company Limited, reported a slight HUBCO profit decline in the third quarter of fiscal year 2025–26, as higher taxation and reduced revenues offset gains from operations and other income. According to a notice submitted to the Pakistan Stock Exchange on Wednesday, the company posted a consolidated profit of Rs12.13 billion for the quarter ending March 31, 2026. This reflects a nearly 3 percent drop compared to Rs12.48 billion recorded in the same period last year. Earnings and Dividend Announcement The HUBCO profit decline also impacted earnings per share (EPS), which fell to Rs8.33 from Rs8.51 in the corresponding period of the previous year. Despite the dip in profit, the company announced a strong interim dividend. HUBCO declared a cash dividend of Rs5 per share (50 percent) for the third quarter. This comes in addition to the earlier interim dividend of Rs10 per share (100 percent), signaling continued returns for shareholders. Revenue and Profit Margins Under Pressure The HUBCO profit decline comes amid a reduction in revenue from contracts with customers. The company’s consolidated revenue dropped nearly 4 percent to Rs16.5 billion in 3QFY26, compared to Rs17.1 billion in the same period last year. Meanwhile, the cost of revenue saw a modest decline of 2 percent, reaching Rs9.86 billion. However, the decrease in costs was not enough to offset the drop in revenue. As a result, HUBCO’s gross profit fell by 5 percent to Rs6.6 billion. The profit margin also slightly narrowed to 40.1 percent, compared to 40.9 percent in the previous year. Strong Growth in Other Income Despite the HUBCO profit decline, the company recorded a significant increase in other income. This segment surged by nearly 146 percent, reaching Rs3.96 billion compared to Rs1.61 billion last year. This sharp rise provided a cushion against declining revenues and highlights the company’s diversified income streams. Operational Performance Improves HUBCO’s core operations showed resilience during the quarter. Profit from operations increased by 18 percent to Rs9.85 billion, reflecting improved efficiency and cost management. The company also benefited from a reduction in financial expenses. Its cost of finance dropped by over 28 percent to Rs2.1 billion, easing pressure on overall profitability. Additionally, the company earned Rs11 billion from its share of profits in associates and joint ventures, marking an 8 percent increase. These gains contributed positively despite the overall HUBCO profit decline. Pre-Tax Profit Rises Sharply Interestingly, HUBCO’s profit before taxation increased by 20 percent to Rs18.8 billion. This indicates strong underlying performance before the impact of taxation. However, the significant rise in taxes reversed much of this gain, leading to the final HUBCO profit decline for the quarter. Tax Burden Weighs on Bottom Line One of the key reasons behind the HUBCO profit decline was a sharp increase in tax expenses. The company paid Rs6.7 billion in taxes during the quarter, representing a massive 127 percent rise compared to the previous year. This surge in taxation significantly impacted net profitability and offset improvements in operational and financial performance. Analysts note that rising tax burdens remain a major concern for companies operating in Pakistan’s energy sector. The latest financial results present a mixed picture for investors. While the HUBCO profit decline may raise concerns, strong operational growth, higher other income, and reduced finance costs indicate underlying stability. The continued dividend payouts also suggest confidence from management in the company’s financial health. However, the rising tax burden and declining revenues could pose challenges in the coming quarters if not addressed. Energy Sector Challenges Continue The performance of HUBCO reflects broader challenges faced by Pakistan’s power sector. Issues such as regulatory pressures, fluctuating demand, and financial constraints continue to affect profitability. Despite these challenges, HUBCO remains a key player in the country’s energy landscape. Its diversified operations and strategic investments provide some resilience against sector-wide difficulties.

Pakistan Stock Exchange Rally Gains Momentum as Investors Turn Bullish
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Pakistan Stock Exchange Rally Gains Momentum as Investors Turn Bullish

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The Pakistan Stock Exchange Rally extended on Tuesday as stocks closed higher, driven by improved external inflows and easing global oil prices. The benchmark index at the Pakistan Stock Exchange reflected strong investor sentiment, with buying interest dominating the session. The KSE-100 Index settled at 173,155.79 points, climbing 959.09 points or 0.56 percent. The market remained upbeat throughout the day, reaching an intraday high of 175,298.11 points and a low of 172,837.79 points, indicating sustained accumulation across major sectors. Trading volumes remained robust at over 524 million shares in the benchmark index. Market breadth also stayed positive, as advancing stocks significantly outnumbered decliners, reflecting a broad-based rally across the bourse. Banking Stocks Lead Pakistan Stock Exchange Rally Commercial banks played a decisive role in driving the Pakistan Stock Exchange Rally. The banking sector contributed the majority of index points, supported by strong buying in major financial institutions. United Bank Limited emerged as the top contributor, followed by Bank Al Habib, Pakistan State Oil, Meezan Bank and Attock Refinery. These heavyweights collectively pushed the index higher, offsetting declines in select energy and cement stocks. Sector-wise performance showed that commercial banks added over 844 points to the index. Oil and gas marketing companies, refineries, pharmaceuticals and textile composites also supported the upward momentum. However, exploration companies and cement stocks limited further gains. Top Gainers and Decliners in Today’s Session Among individual stocks, YOUW led the gainers with a sharp increase of over 21 percent. Other notable performers included GADT, CNERGY, NPL and UBL, all posting solid gains. On the downside, CHCC, KTML, LOTCHEM, PABC and NBP ended the session lower, reflecting selective profit-taking by investors. Despite these declines, the broader trend remained positive. The most actively traded shares included CNERGY, BOP, PRL, WTL, KEL, KOSM, UNITY, NCPL, CSIL and PIBTL. These stocks dominated volumes, highlighting strong retail participation in the market. Saudi Deposit Boosts Confidence in Pakistan Stock Exchange Rally Investor sentiment strengthened after the State Bank of Pakistan confirmed receiving one billion dollars from the Ministry of Finance of Saudi Arabia. This amount represents the second tranche of a three billion dollar deposit facility. The inflow provided crucial support to Pakistan’s foreign exchange reserves and reinforced confidence in macroeconomic stability. Analysts believe such inflows reduce external financing risks and encourage institutional investors to increase exposure to equities. Global Oil Prices Add Support to Market International developments also supported the Pakistan Stock Exchange Rally. Oil prices declined amid expectations of renewed diplomatic engagement between the United States and Iran. Lower oil prices are generally favorable for Pakistan, which relies heavily on energy imports. Market participants remain optimistic that potential diplomatic progress could ease supply constraints and stabilize energy costs. This outlook improved sentiment in oil marketing and refinery sectors, contributing to overall gains. Broader Market Performance Remains Positive The All-Share Index also closed higher at 103,349.02 points, gaining 560.51 points. Total market volume crossed 1.16 billion shares, while traded value reached Rs54.94 billion, indicating strong liquidity. Out of 489 companies traded, 279 advanced, 165 declined and 45 remained unchanged. This performance signals a healthy and broad-based market rally. Fiscal Year Performance of KSE-100 The benchmark index has gained 47,528 points during the current fiscal year, reflecting a rise of nearly 38 percent. However, on a calendar year basis, the index remains slightly down by 899 points, indicating recent volatility despite strong fiscal-year performance. Outlook: Can Pakistan Stock Exchange Rally Continue Analysts believe the Pakistan Stock Exchange Rally may continue if foreign inflows remain stable and global oil prices stay subdued. Banking sector strength, improved reserves and geopolitical easing are key factors supporting the bullish outlook. However, investors remain cautious about inflation trends, monetary policy direction and political developments. Any negative surprise could trigger profit-taking in the near term. Overall, the market tone remains optimistic, with strong participation and improving macroeconomic indicators supporting further upside potential in the Pakistan Stock Exchange.

Matco Foods Restructuring Signals Strategic Shift in Pakistan’s Food Industry
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Matco Foods Restructuring Signals Strategic Shift in Pakistan’s Food Industry

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Matco Foods restructuring has captured attention across Pakistan’s business community after the listed rice exporter announced a significant internal consolidation move. The company has approved the transfer of key operational assets in Gujranwala to its wholly owned subsidiary, Falak Foods Ltd., signaling a broader effort to streamline operations and strengthen its corporate structure. The decision, disclosed in a regulatory filing to the Pakistan Stock Exchange, reflects a strategic attempt to optimize production control while maintaining ownership within the group. Market analysts view the move as part of a growing trend among Pakistani agribusiness firms seeking operational efficiency through subsidiary based structuring. Matco Foods Restructuring: What the Board Approved The Matco Foods restructuring plan was approved by the company’s board through circulation on April 20, 2026. The decision authorizes two major steps. First, Matco Foods will participate in a rights issue of Falak Foods. Second, the company will transfer a 3.47 acre industrial property along with plant, machinery, and equipment to the subsidiary. This transfer will be executed against cash consideration. Falak Foods will fund the transaction through its upcoming rights issue, allowing capital to remain within the group. Importantly, Matco Foods confirmed it will continue to hold full ownership of Falak Foods even after the restructuring. The restructuring effectively shifts operational control of the Gujranwala unit to the subsidiary while keeping strategic oversight centralized at the parent level. Gujranwala Facility at the Center of the Restructuring The Matco Foods restructuring involves land and an operational business unit located in Tehsil Kamoki, District Gujranwala. This facility plays a key role in production and operational activities within the group’s rice processing network. By transferring the asset, the company appears to be consolidating production under Falak Foods, which may enhance operational efficiency and improve management focus. Such restructuring allows companies to separate operational execution from strategic oversight, a model increasingly used in Pakistan’s food sector. Although the company did not disclose the financial value of the transaction, analysts believe the move is primarily structural rather than driven by immediate capital gains. The absence of a timeline for completion suggests that the process may be executed in phases. Why Matco Foods Restructuring Matters The Matco Foods restructuring highlights a broader shift in corporate strategy among listed food companies. Instead of expanding through new acquisitions, firms are optimizing internal assets and reallocating capital to subsidiaries. This approach can deliver multiple benefits. It simplifies operational management by grouping production activities. It enhances financial transparency by separating business units. It also improves access to funding, as subsidiaries can raise capital independently through rights issues. In the case of Matco Foods, the restructuring also builds on earlier disclosures made in January 2026, indicating a phased and carefully planned consolidation strategy. Growing Trend in Pakistan’s Agribusiness Sector The Matco Foods restructuring reflects a growing trend among Pakistan’s agribusiness companies to streamline operations. Firms are increasingly adopting subsidiary based structures to manage risks, improve efficiency, and allocate capital more effectively. This shift is particularly relevant in a competitive export environment where margins are under pressure. By consolidating production under focused entities, companies can reduce administrative overheads and strengthen operational control. Investors often view such restructuring positively when it signals improved governance and clearer operational focus. However, the absence of financial details in this case may leave some stakeholders waiting for further disclosures. Outlook After the Restructuring The Matco Foods restructuring is expected to strengthen internal coordination while maintaining group ownership. If executed effectively, the move could enhance operational efficiency and position the company for future growth. While the market awaits details on valuation and timeline, the development underscores how Pakistani food exporters are adapting their corporate structures to remain competitive. The restructuring may also encourage other listed agribusiness firms to adopt similar strategies.

NBP Dividend Delay Raises Investor Concerns Despite Record Profit
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NBP Dividend Delay Raises Investor Concerns Despite Record Profit

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Shareholders of National Bank of Pakistan continue to wait for their long-awaited NBP dividend, even after the bank announced a historic payout nearly two months ago. The delay has triggered concern across the market. However, officials suggest that the issue is administrative rather than financial. Read More: https://theboardroompk.com/strait-of-hormuz-scam-alert-fake-messages-target-ships-as-blockade-disrupts-global-trade/ Record Profit and Historic Dividend Announcement NBP delivered an exceptional financial performance for the year ending December 31, 2025. The bank reported a profit after tax of Rs85.91 billion. This marked a more than threefold increase compared to the previous year. Following this strong result, the bank announced a final cash dividend of Rs35 per share, representing a 350 percent payout. The board approved this dividend on February 24, 2026. Later, shareholders endorsed it during the 77th Annual General Meeting held on March 31, 2026. Investors who held shares as of March 17 became eligible for the payout. Under normal corporate procedures, payments would follow shortly after such approvals. However, that has not happened in this case. State Ownership Slows the Process The delay in the NBP dividend does not stem from weak finances or liquidity constraints. Instead, it reflects the unique structure of state-owned institutions. As a government-controlled bank, NBP must secure federal approval before releasing dividends. This requirement originates from the Banks (Nationalization) Act 1974. Under this law, profit distribution by nationalized banks requires clearance from the federal government. This adds an additional step beyond standard corporate governance processes. Typically, the approval comes through the federal cabinet or the Ministry of Finance. In this case, no cabinet meeting has taken place since April 8. Meanwhile, Shehbaz Sharif has remained engaged in diplomatic commitments. As a result, the approval process has stalled. Legal Position Remains Intact From a legal perspective, the delay does not yet violate corporate laws. The Companies Act 2017 requires companies to pay dividends within 15 working days of declaration. However, in NBP’s case, the declaration is considered incomplete until the government grants approval. This means the statutory timeline has not officially started. Therefore, the bank remains compliant with legal requirements. Still, the situation highlights how regulatory frameworks can affect investor experience in state-owned entities. Market Sentiment Faces Pressure Despite legal clarity, the delay has raised concerns among investors. Shareholders locked in their positions by mid-March. The bank has already realized its earnings. Moreover, shareholders have formally approved the payout. Yet the funds remain undistributed. This gap between financial performance and payout execution has created uncertainty. Investors rely on predictable returns, especially in dividend-heavy stocks. When delays occur, confidence can weaken. The situation also reflects broader governance challenges. State-owned enterprises often face procedural delays due to multiple layers of approval. In contrast, private sector companies usually process dividends more quickly. Impact on Pakistan Stock Exchange The delay in the NBP dividend could influence sentiment at the Pakistan Stock Exchange. Timely payouts play a key role in maintaining investor trust. When large institutions face delays, it can ripple across the market. NBP holds a significant position in the banking sector. Therefore, any uncertainty surrounding its payouts attracts attention. Analysts believe such episodes may discourage short-term investors who prioritize consistent cash flows. However, some experts argue that the issue is temporary. They point out that once the government grants approval, the payout should proceed without further complications. Still, the delay has already highlighted inefficiencies in administrative processes. Administrative Delay Not Financial Weakness Market observers emphasize that the bank remains financially strong. The record profit clearly demonstrates its capacity to pay dividends. Therefore, the delay should not be interpreted as a sign of financial instability. Instead, it reflects how government oversight can slow decision-making. While such oversight aims to ensure transparency and accountability, it can also create bottlenecks. In fast-moving financial markets, these delays can carry reputational costs. What Investors Should Expect Investors now await the next federal cabinet meeting. Once approval is granted, the bank is expected to release the NBP dividend promptly. Until then, the market will likely remain cautious. The episode serves as a reminder of the structural differences between state-owned and private institutions. While both operate under the same market conditions, their internal processes can vary significantly. For now, the focus remains on when the government will finalize its approval. Until that happens, shareholders of NBP must continue to wait for one of the largest payouts in the bank’s history.

Zong & PAA Redefine Travel Connectivity with Pakistan’s First 5G Facilitation & Sales Kiosk at Islamabad International Airport
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Zong & PAA Redefine Travel Connectivity with Pakistan’s First 5G Facilitation & Sales Kiosk at Islamabad International Airport

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ISLAMABAD, April 21, 2026 – Zong, Pakistan’s leading technology service enterprise, has set a new industry benchmark by launching the country’s first dedicated 5G Customer Facilitation & Sales Kiosk at Islamabad International Airport. This milestone has been achieved through the collaborative efforts of Zong and the Pakistan Airports Authority (PAA) and forms part of a key initiative to modernize indoor airport facilities and introduce 5G-ready solutions for passengers. Read More: https://theboardroompk.com/same-platform-different-price-what-explains-the-rs1-million-gap-for-suv-buyers-in-pakistan/ As mobility and digital reliance converge, airports have become high-intensity connectivity zones where instant access to digital services is no longer optional; it is essential. This initiative underscores Zong’s leadership in next-generation connectivity and marks a strategic step in embedding 5G into Pakistan’s most critical transit ecosystems. Zong is addressing a critical moment in the travel journey: the transition from arrival to real-world connectivity. By enabling immediate access to high-speed services upon arrival, it ensures passengers can seamlessly connect to essential digital tools, including real-time communication for instant connectivity upon landing, navigation and logistics through high-speed data for ride-hailing and digital maps, digital payments with seamless integration into Pakistan’s digital ecosystem and operational flow support for timely decision-making and smooth passenger movement through the terminal; expectations Zong fulfills through its on-ground facilitation model, delivering speed, reliability, and convenience exactly when it matters most. Commenting on the initiative, Faheem Durrani, Head of Sales and Distribution, Zong, said, “Airports are critical digital touchpoints where immediate and reliable connectivity is essential. This initiative enables travelers to seamlessly integrate into Pakistan’s digital ecosystem from the moment they arrive. By strengthening our presence at key transit hubs, we are delivering connectivity where demand is most immediate and impactful.” The Director General of Pakistan Airports Authority (DGPAA) stated, “This development reflects our broader strategy to modernize airport infrastructure across Pakistan and integrate advanced digital capabilities into the aviation ecosystem. Initiatives like this 5G deployment at Islamabad International Airport are an important step toward building smarter, more connected airports that align with global aviation standards and future demand.” The realization of this 5G-ready ecosystem is a testament to the seamless collaboration between the Zong and the Pakistan Airports Authority, especially Director General PAA, Deputy Director General PAA (Airports) HQPAA, and Director Commercial & Estate HQPAA for their institutional support, along with the Airport Manager – COO and Senior Joint Director Commercial of Islamabad International Airport for their critical on-ground facilitation Zong’s 5G strategy is anchored in delivering ultimate customer experience, a diversified products & services portfolio, and AI Enablement. Building on the successful deployment in Islamabad, Zong, in collaboration with the Pakistan Airports Authority (PAA), plans to scale this initiative to other major aviation hubs, including Lahore and Karachi, further accelerating Pakistan’s digital transformation and reinforcing its position as a connected, future-ready nation.

Pakistani freelancers Earn Over $850 million in Jul-Mar
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Pakistani freelancers Earn Over $850 million in Jul-Mar

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KARACHI: Pakistani freelancers is enhancing their contribution in global freelancing market, bringing in over $850 million foreign exchange reserves in the country by the end of third quarter of the current financial year despite multiple challenges and issues of internet disruption and electricity loadshedding. Read More: https://theboardroompk.com/same-platform-different-price-what-explains-the-rs1-million-gap-for-suv-buyers-in-pakistan/ According to State Bank of Pakistan (SBP), freelancers of computer and IT services fetched $856 million by the end of third quarter of the current financial year 2025-26 as compared to $567 million reported in a similar period of the last financial year, showing a handsome 50% growth or $289 million record upsurge. Pakistan Freelancers Association (PAFLA) Ibrahim Amin said that hundreds of thousands of individuals trained by public sector initiatives and non-governmental organizations are entering the freelancing market each month, boosting the country’s foreign exchange earnings. In this regard, the role of institutions is crucial in development of freelancing ecosystem in the country, including Ministry of IT and Telecommunication, Pakistan Software Export Board, and the Special Investment Facilitation Council in developing a supportive ecosystem for freelancers. He urged the government and internet service providers to ensure uninterrupted and high-speed internet services across Pakistan to support the digitally-connected economy, including freelancers and gig economy workers nationwide. According to the Asian Development Bank, Pakistan is home to over 2.37 million freelancers, ranking among the top countries globally in terms of freelance workforce size. To address these issues, he suggested that the government introduce satellite-based internet solutions as an alternative, ensuring reliable connectivity and minimizing disruptions caused by submarine cable faults. The PAFLA chairman expressed optimism that the rollout of 5G technology will significantly improve internet speeds in near future, enhancing the productivity of freelancers, content creators, and other online professionals across the country. Dr Noman Said, a freelancers coach, said the freelancers’ contribution to the economy is visible despite multiple challenges and issues of infrastructure. The freelancing community could play a pivotal role to aid in economic stability and reducing unemployment in the country. Our freelancers should upskill themselves with emerging technologies and in-demand fields, including AI and cybersecurity to remain competitive and valuable at global level, he further stated. He mentioned that Pakistan’s over 60 percent population is consisting of youth, whom will be the country’s assets if the government and the private sector will invest in their capacity building based on a concrete plan or a roadmap. The government should further facilitate freelancers to reduce their payment and regulatory issues and encourage them to form small or medium sized firms through business-friendly policies, which will help them progress in a growing direction, he further said.

The Magnum Ice Cream Company Appoints Mert Turgut as General Manager Pakistan
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The Magnum Ice Cream Company Appoints Mert Turgut as General Manager Pakistan

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The Magnum Ice Cream Company has announced the appointment of Mert Turgut as General Manager Pakistan, effective earlier this year. The appointment supports the company’s ongoing evolution as a standalone global ice cream business, focused on accelerating competitive growth, improving productivity, and re-investing in its brands and capabilities. Mert brings more than 15 years of experience across consumer goods and ice cream, including a progression of leadership roles within Unilever’s global ice cream operations. His career spans diverse markets, including Turkey and Morocco, and includes prior experience in Pakistan, where he led a successful transformation of the Wall’s business. Since assuming the role, Mert has focused on strengthening in market execution, refining routes to market and ensuring decisions are grounded in consumer insights and market dynamics in Pakistan, where consumption patterns are established but continue to evolve in emerging occasions. “With its scale, resilience and talent, Pakistan holds incredible potential,” said Mert Turgut. “I’m thrilled to lead The Magnum Ice Cream Company in this market and excited to bring future-focused, joyful ice cream experiences to more consumers.” Looking ahead, Mert will focus on expanding accessible ice cream experiences, growing the category across every day and on the go occasions, and strengthening the company’s long term presence in Pakistan.

inDrive Joins World Economic Forum’s Unicorn Community
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inDrive Joins World Economic Forum’s Unicorn Community

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Karachi: The mobility platform inDrive has officially joined the World Economic Forum’s Unicorn Community. By becoming part of this community, inDrive aims to bring the perspective of emerging markets like Pakistan into global discussions on digital equity. Read More: https://theboardroompk.com/pakistan-ethiopia-agree-to-expand-trade-joint-ventures-and-tourism-cooperation/ The platform’s participation will focus on promoting fair access to services and expanding economic opportunities, while challenging algorithmic injustice through its “fairness-first” model. According to inDrive’s founder and CEO, Arsen Tomsky, “Joining the World Economic Forum’s Unicorn Community is a significant milestone for us as we continue to expand our global presence and impact. Our mission has always been to challenge injustice by giving people more control over their choices. We look forward to working with the Forum to contribute to discussions on building more inclusive, transparent, and fair digital economies—especially in fast-growing and underserved markets.” Membership in the World Economic Forum’s community will also support broader economic inclusion and enable the platform to promote non-profit initiatives such as empowering women entrepreneurs, as well as advancing education and digital literacy.

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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