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K-Electric Wins Gold Stevie Award for Great Employers 2026, Becomes Only Pakistani Organisation Recognised Globally

Web Desk / July 31, 2026

K-Electric (KE) has earned global recognition after winning a Gold Stevie Award at the 11th Annual Stevie Awards for Great Employers 2026, becoming the only Pakistani organisation to receive an honour at this year’s prestigious international HR awards. The recognition highlights K-Electric’s growing focus on diversity, equity and inclusion (DEI), as well as its broader efforts to build a future-ready workforce through modern people management practices. K-Electric Wins Global Recognition at Stevie Awards 2026 K-Electric secured the Gold Stevie Award in its debut participation at the Stevie Awards for Great Employers, one of the world’s leading award programmes recognising excellence in human resources, workplace culture, and employer practices. The company’s Chief People Officer, Muhammad Rizwan Dalia, received the award in the HR Individual – Diversity, Equity & Inclusion (DEI) Leader of the Year category. The annual awards celebrate organisations, HR professionals, and workplace leaders who have demonstrated outstanding achievements in creating inclusive, innovative, and employee-focused work environments. KE Highlights Commitment to Diversity and Inclusion Commenting on the achievement, Muhammad Rizwan Dalia said the recognition reflected years of dedication toward building a workplace where diversity, equity and inclusion remain central to the company’s culture. He noted that receiving international recognition was particularly significant for a company operating in Pakistan’s power sector, an industry that has faced numerous challenges over the years. According to Dalia, KE’s experience has shown that diversity drives innovation, equity builds trust, and inclusion enables employees to perform at their best. He added that representing Pakistan on the global stage was a proud moment for both the organisation and its workforce. Competition Featured Organisations From 38 Countries The 2026 Stevie Awards for Great Employers attracted more than 1,000 nominations from organisations across 38 countries. Awards were presented across a wide range of human resources categories, including Employer of the Year, Human Resources Team of the Year, Chief Human Resources Officer of the Year, Workplace Safety and Compliance, Employee Relations, and Diversity, Equity and Inclusion. Stevie Awards President Maggie Miller congratulated this year’s winners, saying the awards recognise organisations and HR professionals that continue setting global standards for workplace excellence. The winners will be formally honoured during the Stevie Awards ceremony scheduled for October 28. Recognition Supports KE’s Workforce Transformation K-Electric said the international recognition reinforces its long-term commitment to strengthening its organisational culture and adopting global best practices in human resource management. The company stated that initiatives focused on employee development, inclusion, and leadership remain an important part of its ongoing organisational transformation. The award also positions KE among internationally recognised employers that are investing in workplace innovation and talent development while strengthening employee engagement. As organisations increasingly compete for skilled professionals, global recognition through platforms such as the Stevie Awards may further enhance K-Electric’s employer brand and support its efforts to attract and retain top talent. Global Recognition Reflects Growing Focus on People Strategy K-Electric’s Gold Stevie Award marks an important international milestone for Pakistan’s corporate sector, highlighting the growing emphasis local companies are placing on diversity, employee development, and modern workplace practices. While the recognition celebrates KE’s progress in human resources and inclusion, sustaining these standards through continued investment in people and organisational culture will remain essential in the years ahead.

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AKU-IED and Sindh Government Established a Landmark Partnership for Inclusive Education

Web Desk / July 31, 2026

The Government of Sindh and the Aga Khan University’s Institute for Educational Development (AKU-IED) have launched a five-year partnership to strengthen inclusive education across the province. The initiative aims to improve educational opportunities for children with disabilities through specialised teacher training, research, and the establishment of a dedicated Special Educational Needs (SEN) Unit. Sindh Government and AKU-IED Sign Five-Year Agreement The Memorandum of Understanding (MoU) was signed at the Chief Minister House in Karachi after receiving approval from the Sindh Cabinet. Chief Minister Sindh Syed Murad Ali Shah, who witnessed the signing ceremony, described the agreement as a commitment to ensuring that children with disabilities have equal opportunities to learn and realise their potential. He said the initiative represents an important step towards creating a more inclusive education system that removes barriers faced by children with special educational needs. Dedicated SEN Unit to Be Established A key component of the partnership is the establishment of an Inclusion and Special Educational Needs (SEN) Unit at AKU-IED. The centre will serve as a hub for teacher training, research and innovation while featuring sensory rooms, therapy spaces and specialised resource centres to support inclusive learning. The unit is expected to play a leading role in developing evidence-based approaches to special education across Sindh. Thousands of Educators to Receive Specialised Training Under the five-year programme, AKU-IED will train more than 2,000 educators through modular courses, Training-of-Trainers programmes and certification pathways focused on inclusive education. The institute will also introduce a specialisation in inclusive education within its Bachelor of Education programme, with participating students receiving monthly stipends. Through these trained educators, the initiative aims to positively impact an estimated 500,000 schoolchildren across Sindh. Addressing Pakistan’s Inclusive Education Gap According to UNICEF, approximately 96 percent of children with disabilities in Pakistan remain out of school. Sindh faces a particularly significant challenge, with around 7.4 million children currently out of school, where disability, poverty, gender disparities and limited accessibility continue to restrict educational opportunities. Secretary of the Department of Empowerment of Persons with Disabilities (DEPD), Tuaha Ahmed Faruqui, said the partnership reflects a commitment to ensuring that children with disabilities are no longer excluded from the education system. Research and Policy Development Beyond teacher training, the partnership includes a comprehensive research and policy framework designed to improve inclusive education across the province. The programme will conduct baseline assessments, implementation evaluations and annual policy reviews to support evidence-based decision-making. It will also organise biennial SEN conferences, policy seminars and public awareness campaigns aimed at promoting disability inclusion through educational resources, community engagement and advocacy initiatives. AKU Reaffirms Commitment to Inclusive Education Professor Farid Panjwani, Dean of AKU-IED, described the partnership as a commitment to creating an education system where every child is recognised, supported and empowered. Meanwhile, Aga Khan University President Dr Sulaiman Shahabuddin said the strength of any education system is measured by its ability to reach children who have historically been left behind. He noted that preparing teachers and schools to educate children with special needs would help ensure that all children have the opportunity to achieve their full potential. Long-Term Vision for Inclusive Education The Government of Sindh will provide grant funding for the initiative, while AKU-IED will contribute its academic expertise and institutional resources. The newly established SEN Unit will also develop a long-term strategic roadmap designed to sustain the programme’s impact beyond the initial five-year partnership. The initiative represents one of the most significant efforts undertaken in Sindh to expand inclusive education and improve learning opportunities for children with disabilities across the province.

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Commercial Vehicle Sales Surge 37pc but Hinopak Volumes Fall

Web Desk / July 31, 2026

Pakistan’s commercial vehicle market recorded strong growth during the April–June 2026 quarter, with total industry sales rising 37 percent year-on-year, reflecting improving economic activity and stronger business confidence. However, Hinopak Motors Limited failed to benefit from the sector-wide recovery, reporting lower sales volumes and weaker financial performance despite favourable market conditions. Commercial Vehicle Market Records Strong Growth According to industry data, total commercial vehicle sales across all manufacturers reached 2,636 units during the April–June 2026 quarter, representing a 37 percent increase compared to the same period last year. The growth was supported by moderating inflation, improved liquidity, relative exchange rate stability and stronger business confidence, all of which boosted demand for trucks and buses. Hinopak Sales Decline Despite Market Recovery In contrast to the industry’s strong performance, Hinopak Motors sold just 156 trucks and buses during the quarter, compared with 180 units in the corresponding period last year. The roughly 13 percent decline suggests the company lost market share while competitors benefited from the broader recovery in commercial vehicle demand. The weaker sales performance raises questions about Hinopak’s product mix, pricing strategy and competitive positioning in an increasingly competitive market. Revenue and Profitability Under Pressure The decline in sales volumes weighed on the company’s financial performance. Revenue fell to Rs3.28 billion during the quarter from Rs3.96 billion a year earlier, reflecting the lower number of vehicles sold. Gross profit also declined significantly to Rs544.44 million from Rs845.56 million in the same quarter last year, highlighting the impact of weaker sales on profitability. Balance Sheet Shows Improved Financial Discipline Despite lower sales, Hinopak strengthened its balance sheet by reducing inventory levels and short-term borrowings. Inventories declined from Rs5.49 billion to Rs4.28 billion, while short-term borrowings were reduced substantially from Rs2.53 billion to Rs789 million. The figures indicate that management focused on improving liquidity and financial stability rather than pursuing aggressive sales growth during the quarter. Challenges Remain Despite Industry Recovery The company’s directors said elevated energy prices, market volatility and supply chain disruptions arising from geopolitical developments continue to pose challenges for the commercial vehicle industry. Management expressed cautious optimism for the coming quarters, stating that the company would continue focusing on cost optimisation, operational efficiency and disciplined financial management. Outlook While Pakistan’s commercial vehicle market continues to recover, Hinopak Motors has yet to translate improving industry conditions into stronger sales. The company’s efforts to strengthen its balance sheet are encouraging, but regaining market share will likely depend on improving competitiveness, expanding product offerings and capitalising on the broader recovery in business activity.

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Govt May Revive Fuel Subsidy Mechanism if Middle East Tensions Persist

Web Desk / July 31, 2026

The government has indicated that it may revive the fuel subsidy mechanism within days if renewed tensions in the Middle East continue to push global oil prices higher. While acknowledging the financial strain on consumers, officials also reaffirmed their commitment to petroleum price deregulation, saying the policy remains essential under Pakistan’s ongoing IMF programme. Subsidy Could Return “In a Few Days” Petroleum Minister Ali Pervaiz Malik said the government was prepared to reintroduce a targeted fuel subsidy mechanism if the current geopolitical situation did not improve soon. Speaking to journalists after attending a meeting of the Senate Standing Committee on Petroleum, Malik recalled that the prime minister had previously allocated Rs130 billion in fuel subsidies before provincial governments joined the initiative to help cushion the impact of rising fuel prices. He said the government fully understood the challenges facing ordinary Pakistanis but stressed that lasting relief would depend on an easing of global oil prices once tensions in the Middle East subsided. Fiscal Constraints Limit Government Options Malik said Pakistan’s commitments under the International Monetary Fund (IMF) programme had significantly reduced the government’s fiscal flexibility. He explained that recovering the actual cost of petroleum products from consumers remained the only sustainable option, warning that artificially suppressing prices would simply transfer the financial burden elsewhere. Defending the newly introduced daily petroleum pricing mechanism, the minister said it was designed to improve transparency and reduce sudden price shocks by gradually reflecting changes in international oil markets. He added that the Oil and Gas Regulatory Authority (Ogra) had published its pricing methodology to ensure greater public transparency. Senate Committee Debates Daily Pricing System During the Senate Standing Committee meeting chaired by Senator Umer Farooq, lawmakers expressed mixed views over the new daily pricing mechanism. While Senator Amir Chishti supported the policy, Senator Saifullah Abro criticised it, describing it as “slow poison” for consumers. Responding to concerns about replacing the previous fortnightly pricing system, Malik said the government had depoliticised fuel pricing by empowering Ogra to independently determine petroleum prices based on international market movements. Ogra Chairman Nabeel Awan explained that prices are calculated using a seven-day rolling average of Platts international benchmarks, allowing fluctuations to be absorbed more gradually and reducing volatility caused by geopolitical events such as the ongoing US-Iran conflict. Dealers Raise Operational Concerns Members of the Senate committee also questioned the heavy tax burden on petroleum products. Representatives of the Petroleum Dealers Association told lawmakers that frequent daily price revisions had created operational difficulties for fuel stations across the country. The committee directed Ogra to engage with petroleum dealers and other stakeholders to develop practical solutions that minimise disruption while maintaining transparency. Government Reviews Petroleum Pricing Reforms Separately, a government committee headed by Petroleum Minister Ali Pervaiz Malik reviewed the implementation of the daily pricing system. According to an official statement, the committee appreciated the pricing framework and its objective of improving transparency while limiting price volatility. Consulting firm KPMG also presented a comparative study of petroleum pricing and taxation models adopted by regional countries. The minister instructed oil marketing companies (OMCs) to accelerate the end-to-end digitisation of Pakistan’s petroleum supply chain in accordance with directives previously issued by the prime minister. Petroleum Sector Reforms Continue The committee also reviewed the moratorium on new oil marketing companies and discussed its implications for competition and future investment. Officials agreed that the Inland Freight Equalisation Margin (IFEM) mechanism requires a comprehensive review, particularly if petroleum price deregulation moves forward. The issue of a windfall tax also came under discussion, with the Finance Division, Federal Board of Revenue (FBR), and Petroleum Division directed to submit a joint report at the next meeting. The government said consultations would continue as it develops a broader roadmap for petroleum sector reforms focused on transparency, competition and consumer protection. Conclusion While the government remains committed to petroleum price deregulation, it has left the door open for the temporary revival of the fuel subsidy mechanism if Middle East tensions continue to drive global oil prices higher. However, with Pakistan operating under IMF fiscal constraints, any subsidy is likely to be targeted and implemented with provincial support rather than through broad-based price controls.

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IBA Graduate And Wafflix Founder Mir Raza Ali Found Murdered After Abduction In Karachi

Web Desk / July 31, 2026

Karachi’s business community has been left in shock after the abduction and murder of 25-year-old entrepreneur and IBA graduate Mir Raza Ali, founder of the popular dessert brand Wafflix. Ali, who transformed a student-run dessert stall into a recognised local business, was allegedly kidnapped before being tortured and killed. His body was later recovered from Gulistan-e-Jauhar, prompting a police investigation into the high-profile case. Entrepreneur Went Missing From PECHS Residence According to police, Mir Raza Ali left his home in PECHS Block 2 at around 4:00am on July 28 after telling his mother he would return within 10 minutes. He failed to return, and his mobile phone was later found switched off. His father subsequently registered a kidnapping case at Ferozabad Police Station on the same day after unsuccessful attempts to contact him. Body Recovered From Gulistan-e-Jauhar On July 29, police and Edhi rescue teams recovered a body from bushes near Shadi Qila Wedding Hall in Gulistan-e-Jauhar Block 1. Authorities said the body appeared to have been lying there for one to two days and had burn marks that initially made identification difficult. Mir Raza Ali’s father later identified him through the clothes he was wearing. Police also reported multiple injury marks, including wounds on his back. Police Probe Torture And Shooting According to SHO Kamran Qureshi, preliminary findings suggest the victim was tortured before being shot. The body was shifted to Jinnah Postgraduate Medical Centre (JPMC) for a post-mortem examination. Investigators are reviewing CCTV footage from the surrounding area and pursuing multiple leads to determine those responsible. Police have not yet identified the motive behind the killing, and no arrests have been made so far. Business Community Mourns IBA Graduate Mir Raza Ali was an alumnus of the Institute of Business Administration (IBA) Karachi and was widely recognised for his entrepreneurial journey. He founded Wafflix, growing it from a small student-run cart into a well-known dessert brand in Karachi while creating employment opportunities for young people. Following news of his death, tributes poured in across professional networks, including LinkedIn, where friends, entrepreneurs and former classmates remembered him as an ambitious and hardworking businessman. Many also expressed concern that the killing of a young entrepreneur received comparatively limited attention during its early stages. Investigation Continues Funeral prayers were offered in Karachi and attended by family members, friends, and members of the business community. Authorities have launched a full investigation into the abduction and murder, while police continue analysing evidence and reviewing surveillance footage. The case has once again raised concerns about the safety of entrepreneurs and ordinary citizens in Karachi, with many calling for a swift investigation and accountability for those responsible.

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US Strikes On Iran Escalate Middle East Crisis As Oil Routes Face Fresh Security Threats

Web Desk / July 30, 2026

Military Escalation Raises Concerns Over Regional Stability The latest US Strikes on Iran have pushed the Middle East closer to a broader regional conflict, raising serious concerns for global energy markets, international shipping and investor confidence. Following Iran’s attempted ballistic missile attacks against American military installations in Jordan, the United States launched what it described as a “heavy wave” of retaliatory strikes targeting dozens of military facilities linked to Iran’s Islamic Revolutionary Guard Corps. The renewed military confrontation comes after several days of apparent diplomatic calm, highlighting how fragile regional negotiations have become. While both Washington and Tehran had signalled the possibility of reducing tensions, the latest exchange of attacks demonstrates how rapidly diplomatic efforts can collapse when military escalation replaces political dialogue. US Strikes Target Iranian Military Infrastructure According to US Central Command, American forces struck multiple military command centres, missile and drone facilities, coastal defence installations, surveillance sites and maritime capabilities operated by the Islamic Revolutionary Guard Corps. US officials stated the operation was launched in direct response to Iran’s attempted missile attacks against American personnel stationed in Jordan. The Pentagon also confirmed that all Iranian missiles aimed at US forces were intercepted before reaching their intended targets. Military officials described the operation as a calculated response designed to weaken Iran’s offensive capabilities without announcing any plans for broader military action. Iranian state media, however, presented a different account, claiming the strikes caused civilian casualties, including the reported deaths of a family on Qeshm Island. Reports also indicated that oil-producing regions such as Qeshm and Abadan were among the locations affected during the overnight attacks. Strait Of Hormuz Faces Renewed Security Risks The latest escalation has once again placed the Strait of Hormuz at the centre of global attention. The strategically important waterway carries a significant share of the world’s oil exports, making any disruption a direct threat to international energy supplies and shipping costs. Iran claimed its naval forces targeted several commercial oil tankers after accusing them of using what it described as unsafe routes. Although independent verification remains limited, any military activity around the Strait immediately increases insurance premiums, freight costs and uncertainty across global commodity markets. Energy analysts warn that prolonged instability could trigger renewed volatility in crude oil prices, placing additional inflationary pressure on economies already facing slower global growth. Regional Conflict Continues To Widen The conflict has expanded beyond direct US-Iran military exchanges. Earlier this week, joint US-Saudi military operations reportedly targeted Iranian-backed armed groups operating in Iraq following dozens of drone attacks attributed to Tehran. Iran-backed Popular Mobilisation Forces reported significant casualties, while Iraqi officials condemned the strikes as a violation of national sovereignty. Washington, however, maintained that the operations were coordinated with Iraqi authorities, highlighting conflicting narratives surrounding the conflict. Meanwhile, Jordan confirmed intercepting multiple Iranian missiles targeting its territory, while Egyptian authorities investigated what they described as a drone attack that caused a fire at one of the country’s ports, raising concerns that additional regional states could become increasingly involved. Diplomatic Efforts Clash With Military Action One of the most notable aspects of the current crisis is the contrast between diplomatic messaging and military developments. Only days earlier, President Donald Trump described ongoing contacts with Tehran as “very friendly negotiations,” although Iranian officials denied any talks were taking place. Reports also suggested Saudi Arabia had privately encouraged Washington to pursue de-escalation, reflecting growing concern among Gulf states that prolonged conflict could destabilise the region’s economy and energy infrastructure. The conflicting signals have created uncertainty for governments, businesses, investors and financial markets attempting to assess geopolitical risks. Global Economic Risks Continue To Mount Beyond the humanitarian consequences, the expanding conflict presents significant economic challenges. Higher shipping insurance costs, disruptions to oil transportation, increased defence spending and declining investor confidence could collectively slow regional economic growth. Businesses dependent on Middle Eastern energy exports are closely monitoring developments, while financial markets remain sensitive to any indication that the conflict could further threaten the Strait of Hormuz. Should military exchanges continue, supply chains stretching from Asia to Europe may face additional disruptions, reinforcing inflationary pressures worldwide. The latest US Strikes on Iran demonstrate that the conflict has entered another dangerous phase despite repeated public calls for diplomacy. Whether diplomatic channels regain momentum or military operations continue to expand may determine not only the future of regional security but also the stability of global energy markets and international trade.

BingX Launches Dedicated Trust Center To Enhance Transparency Pakistan, July 29, 2026 – BingX, a leading cryptocurrency exchange and Web3-AI company, has launched its dedicated Trust Center, bringing together the platform's security framework, asset transparency, and long-term operational milestones. The initiative reflects BingX's continued investment in building a resilient platform trusted by more than 40 million users worldwide. As trust and transparency become increasingly important across the broader industry, BingX continues to strengthen the foundations that support its long-term growth. Over the past eight years, BingX has focused on building trust through consistent operations, transparent asset protection, robust risk management, and a user-first approach. Pablo Monti, Spokesperson of BingX, said trust is earned through consistent transparency, reliable operations and an unwavering commitment to users. He added that every milestone, from Proof of Reserves and global compliance to strategic partnerships and product innovation, reflects the company's commitment to building a platform users can rely on for the long term. Trust Framework Backed By Proof Of Reserves And Security Standards The platform's trust framework includes 100% Proof of Reserves through monthly Merkle Tree snapshots. According to the latest reserve report issued on July 15, 2026, BingX maintains a BTC reserve ratio of 142.82%, an ETH reserve ratio of 126.48%, a USDT reserve ratio of 131.83% and a USDC reserve ratio of 124.41%, demonstrating full backing of user assets. BingX further strengthens user protection through a US$150 million Shield Fund, together with multi-layer asset protection, multi-signature authorisation, tiered cold, warm and hot wallet architecture, real-time risk monitoring and 24/7 global customer support. The platform has also achieved internationally recognised PCI DSS 4.0.1 and ISO/IEC 27001 certifications, validating its controls across information protection, risk management, operational resilience and incident response. Regular third-party security assessments further reinforce BingX's commitment to maintaining a secure trading environment. Global Expansion Driven By Compliance And Innovation Alongside its security framework, BingX continues to expand its global footprint through regulatory progress and product innovation. The company has advanced its presence in Europe, where BingX EU has submitted an application for authorisation as a crypto-asset service provider under MiCAR, reinforcing its commitment to compliant growth. BingX is also continuing its evolution into a leading multi-asset trading platform. Through BingX TradFi, eligible users can access traditional financial markets, including stocks, commodities, forex and indices, alongside cryptocurrencies, subject to regional regulations and eligibility requirements. Strategic Partnerships Strengthen Global Presence BingX's long-term commitment to trust extends beyond its platform through partnerships with globally recognised organisations, reinforcing its credibility and strengthening its international presence. Its partnership with Chelsea Football Club has continued to grow over the past two years, evolving from Official Sleeve Partner to Official Training Wear Partner while featuring global initiatives such as the "Trained on Greatness" campaign. In 2026, BingX renewed its partnership with Chelsea FC, extending a collaboration built on shared values of discipline, excellence and continuous improvement. The company also became Scuderia Ferrari HP's first-ever crypto exchange partner in 2026 through a multi-year agreement focused on performance, innovation and delivering unique experiences to users worldwide. BingX Expands Social Impact Through Charity Initiatives BingX believes trust is built not only through technology and security but also through meaningful contributions to society. Supported by a US$10 million BingX Charity Fund, the company has contributed to humanitarian relief, education, environmental sustainability and community development initiatives since 2022. Recent projects include a year-long partnership with Save the Children supporting vulnerable children in Bosnia and Herzegovina, disaster relief efforts across Asia, assistance for communities affected by the 2025 Hong Kong fires, and ongoing educational and environmental programmes worldwide. Through BingX Charity, the company aims to translate its global reach into tangible support for people, communities and environmental causes. About BingX Founded in 2018, BingX is a leading crypto exchange and Web3-AI company serving more than 40 million users worldwide. Ranked among the world's top five crypto derivatives exchanges and recognised as a pioneer in crypto copy trading, BingX offers AI-driven products and services, including futures, spot trading, copy trading and TradFi solutions. The company has been the principal partner of Chelsea FC since 2024 and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026. Keywords: BingX Trust Center, BingX Proof of Reserves, BingX Shield Fund, cryptocurrency exchange, Web3 AI, BingX security, crypto trading platform, BingX compliance, crypto transparency, BingX partnerships Key Phrase: BingX Trust Center Meta Description: BingX has launched its dedicated Trust Center, showcasing Proof of Reserves, a US$150 million Shield Fund, internationally recognised security certifications and its commitment to transparency, compliance and global expansion.

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BingX Strengthens Market Confidence with Dedicated Trust Center

Web Desk / July 30, 2026

BingX Launches Dedicated Trust Center To Enhance Transparency Pakistan, July 29, 2026 – BingX, a leading cryptocurrency exchange and Web3-AI company, has launched its dedicated Trust Center, bringing together the platform’s security framework, asset transparency, and long-term operational milestones. The initiative reflects BingX’s continued investment in building a resilient platform trusted by more than 40 million users worldwide. As trust and transparency become increasingly important across the broader industry, BingX continues to strengthen the foundations that support its long-term growth. Over the past eight years, BingX has focused on building trust through consistent operations, transparent asset protection, robust risk management, and a user-first approach. Pablo Monti, Spokesperson of BingX, said trust is earned through consistent transparency, reliable operations and an unwavering commitment to users. He added that every milestone, from Proof of Reserves and global compliance to strategic partnerships and product innovation, reflects the company’s commitment to building a platform users can rely on for the long term. Trust Framework Backed By Proof Of Reserves And Security Standards The platform’s trust framework includes 100% Proof of Reserves through monthly Merkle Tree snapshots. According to the latest reserve report issued on July 15, 2026, BingX maintains a BTC reserve ratio of 142.82%, an ETH reserve ratio of 126.48%, a USDT reserve ratio of 131.83% and a USDC reserve ratio of 124.41%, demonstrating full backing of user assets. BingX further strengthens user protection through a US$150 million Shield Fund, together with multi-layer asset protection, multi-signature authorisation, tiered cold, warm and hot wallet architecture, real-time risk monitoring and 24/7 global customer support. The platform has also achieved internationally recognised PCI DSS 4.0.1 and ISO/IEC 27001 certifications, validating its controls across information protection, risk management, operational resilience and incident response. Regular third-party security assessments further reinforce BingX’s commitment to maintaining a secure trading environment. Global Expansion Driven By Compliance And Innovation Alongside its security framework, BingX continues to expand its global footprint through regulatory progress and product innovation. The company has advanced its presence in Europe, where BingX EU has submitted an application for authorisation as a crypto-asset service provider under MiCAR, reinforcing its commitment to compliant growth. BingX is also continuing its evolution into a leading multi-asset trading platform. Through BingX TradFi, eligible users can access traditional financial markets, including stocks, commodities, forex and indices, alongside cryptocurrencies, subject to regional regulations and eligibility requirements. Strategic Partnerships Strengthen Global Presence BingX’s long-term commitment to trust extends beyond its platform through partnerships with globally recognised organisations, reinforcing its credibility and strengthening its international presence. Its partnership with Chelsea Football Club has continued to grow over the past two years, evolving from Official Sleeve Partner to Official Training Wear Partner while featuring global initiatives such as the “Trained on Greatness” campaign. In 2026, BingX renewed its partnership with Chelsea FC, extending a collaboration built on shared values of discipline, excellence and continuous improvement. The company also became Scuderia Ferrari HP’s first-ever crypto exchange partner in 2026 through a multi-year agreement focused on performance, innovation and delivering unique experiences to users worldwide. BingX Expands Social Impact Through Charity Initiatives BingX believes trust is built not only through technology and security but also through meaningful contributions to society. Supported by a US$10 million BingX Charity Fund, the company has contributed to humanitarian relief, education, environmental sustainability and community development initiatives since 2022. Recent projects include a year-long partnership with Save the Children supporting vulnerable children in Bosnia and Herzegovina, disaster relief efforts across Asia, assistance for communities affected by the 2025 Hong Kong fires, and ongoing educational and environmental programmes worldwide. Through BingX Charity, the company aims to translate its global reach into tangible support for people, communities and environmental causes. About BingX Founded in 2018, BingX is a leading crypto exchange and Web3-AI company serving more than 40 million users worldwide. Ranked among the world’s top five crypto derivatives exchanges and recognised as a pioneer in crypto copy trading, BingX offers AI-driven products and services, including futures, spot trading, copy trading and TradFi solutions. The company has been the principal partner of Chelsea FC since 2024 and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.

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ADB-Backed Pakistan Border Connectivity Upgrade Aims to Boost Regional Trade Corridors

Web Desk / July 29, 2026

Pakistan is set to receive a major boost to its trade and transport network through an ADB-backed Pakistan Border Connectivity Upgrade, with a new financing facility expected to be approved in the coming weeks. The initiative aims to modernise border infrastructure, improve logistics, strengthen regional trade corridors and enhance Pakistan’s connectivity with neighbouring countries under the Central Asia Regional Economic Cooperation (CAREC) programme. The development was shared during a meeting between a delegation from the CAREC Secretariat and Federal Minister for Commerce Jam Kamal Khan, where both sides reviewed ongoing regional initiatives designed to expand trade, attract investment and deepen economic integration among CAREC member states. Officials said the proposed Border Connectivity and Logistics Upgrade Facility, backed by the Asian Development Bank (ADB), will play a key role in improving Pakistan’s border management systems, reducing logistical bottlenecks and facilitating faster cross-border movement of goods. ADB Facility to Modernise Border Infrastructure During the meeting, the CAREC delegation informed the Commerce Minister that the ADB-supported facility is expected to receive formal approval within the next few weeks. Once approved, the programme will support the modernisation of Pakistan’s border infrastructure through improvements in logistics facilities, customs operations and transport connectivity. Officials said better border infrastructure would enhance trade efficiency, lower transportation costs and strengthen Pakistan’s position as a regional transit and trade hub linking South Asia with Central Asia and beyond. The initiative also aligns with Pakistan’s broader objective of improving trade competitiveness by developing modern border facilities capable of handling increasing regional trade volumes. Pakistan Advances CAREC Trade Agenda The delegation also briefed the Minister on Pakistan’s active participation in implementing the Regional Trade and Investment Facilitation Partnership (CARIF) framework. According to CAREC officials, the framework is now entering its operational phase and is expected to improve regional trade facilitation, logistics cooperation and cross-border investment among member countries. The CARIF initiative aims to simplify trade procedures, strengthen customs cooperation and encourage greater private sector participation in regional commerce. Officials said Pakistan’s continued engagement demonstrates its commitment to promoting open markets, improving regional supply chains and expanding economic partnerships with neighbouring economies. CAREC Conference in Mongolia to Focus on Regional Growth The meeting also reviewed preparations for the upcoming CAREC Ministerial Conference and Business Forum, scheduled to take place in Mongolia on September 29-30, 2026. The CAREC Secretariat formally invited Commerce Minister Jam Kamal Khan to participate in the event, which is expected to bring together ministers, senior government officials, international development partners, investors and business leaders from across the region. The accompanying Business Forum will focus on key sectors driving regional economic cooperation, including logistics, energy security, critical minerals, digital connectivity, investment opportunities and private-sector collaboration. Officials believe the conference will provide an important platform for strengthening economic partnerships and identifying new investment opportunities across the CAREC region. Regional Chambers Alliance to Boost Private Sector Cooperation The CAREC delegation also shared plans to establish a Regional Chambers Alliance, an initiative supported by the ADB to strengthen business-to-business cooperation among Chambers of Commerce and Industry across member countries. The proposed alliance aims to improve networking opportunities, facilitate commercial partnerships and encourage greater private sector engagement in regional trade initiatives. Officials said stronger institutional cooperation between business organisations would help create new investment opportunities while supporting the growth of regional value chains. The initiative is expected to complement government-led trade facilitation efforts by increasing collaboration between exporters, manufacturers and investors throughout the CAREC region. Digital Corridor Study to Strengthen Regional Connectivity Another key topic discussed during the meeting was the ADB-supported Digital Corridor Study, which includes Pakistan alongside other CAREC member countries. The study seeks to identify opportunities for improving digital infrastructure, expanding cross-border digital connectivity and promoting technology-driven trade across the region. Officials said stronger digital connectivity would support modern customs systems, facilitate e-commerce, improve information sharing and enhance the efficiency of regional supply chains. The project also reflects growing regional efforts to integrate digital technologies into trade and logistics networks to support long-term economic growth. Pakistan Reaffirms Commitment to Regional Integration Commerce Minister Jam Kamal Khan welcomed the continued support of the CAREC Secretariat and the Asian Development Bank in advancing regional economic cooperation. He reaffirmed Pakistan’s commitment to strengthening trade, connectivity and investment partnerships with CAREC member countries through infrastructure development, policy reforms and enhanced regional collaboration. The Minister said initiatives such as the Pakistan Border Connectivity Upgrade, CARIF framework and Digital Corridor Study would contribute to improving Pakistan’s trade competitiveness while creating new opportunities for businesses and investors. With the ADB-backed border infrastructure programme expected to receive approval in the coming weeks, Pakistan is preparing to strengthen its transport and logistics network as part of broader efforts to expand regional commerce and economic integration.

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Power Division Blames Finance Ministry As Pakistan Circular Debt Rises To Rs1.675tr

Web Desk / July 29, 2026

Budget Cuts Push Pakistan’s Power Sector Circular Debt Higher Pakistan’s power sector circular debt increased to Rs1.675 trillion by the end of fiscal year 2025-26, with the Power Division attributing the rise to a reduction in budgeted financial support by the Ministry of Finance. According to the ministry, the Pakistan power sector circular debt would have declined further had the full budget allocation for the sector been released. In a statement issued on Tuesday, the Power Division said the circular debt, excluding K-Electric, rose to Rs1.675 trillion on June 30, 2026, compared with Rs1.614 trillion a year earlier. The division maintained that the increase was not caused by operational weaknesses but by a reduction in government funding during the fiscal year. The Power Division stated that a Rs98 billion cut in the allocated budget resulted in an additional Rs61 billion being added to the circular debt stock. The ministry has not yet released its end-of-year financial report, explaining that the document is still awaiting regulatory and statutory approvals. Budget Reduction Blamed For Circular Debt Increase The Power Division said the federal government had initially earmarked Rs893 billion for the power sector in the FY2025-26 budget. However, it said a further Rs98 billion was deducted under the government’s austerity measures before the budget was finally approved. According to the division, if the power sector had received the full amount originally allocated, the circular debt would have fallen to approximately Rs1.577 trillion instead of increasing. Budget documents presented to Parliament showed that Rs1.036 trillion had originally been proposed for power sector subsidies. The allocation was later revised to Rs893 billion during the presentation of the FY2026-27 federal budget. The Power Division now says another Rs98 billion reduction effectively lowered the subsidy allocation to Rs795 billion, limiting the government’s ability to reduce outstanding liabilities. The ministry argued that the increase in circular debt should therefore be viewed as a temporary financial consequence of reduced budgetary support rather than evidence of deteriorating sector performance. IMF Targets And Government Commitments The increase comes despite Pakistan’s commitment under its International Monetary Fund (IMF) programme to prevent any further accumulation of circular debt while gradually reducing the overall stock. The Power Division noted that Pakistan successfully achieved its end-December 2025 circular debt target, a milestone that was acknowledged and appreciated by the IMF during programme reviews. Officials maintained that the latest increase was largely driven by fiscal adjustments rather than failures in reform implementation, stressing that the government’s broader commitments under the IMF programme remain unchanged. Distribution Company Losses Continue To Decline While explaining the rise in circular debt, the Power Division highlighted improvements in the operational performance of state-owned electricity distribution companies (DISCOs). According to the ministry, distribution company losses declined significantly over the past two fiscal years. Losses stood at Rs591 billion in FY2023-24 before falling by Rs193 billion to Rs397 billion in FY2024-25. During FY2025-26, the Power Division said those losses were reduced further to Rs326 billion, representing a cumulative decline of Rs265 billion over two years. Officials described the reduction as evidence that ongoing reforms aimed at improving operational efficiency, reducing electricity theft, and strengthening financial management are beginning to deliver measurable results. Power Division Defends Reform Programme The Power Division insisted that recent financial data demonstrate continued progress in restructuring Pakistan’s electricity sector. It said the reforms introduced across the energy sector have strengthened operational performance while reducing financial losses, despite budgetary pressures faced by the government. According to the ministry, the latest increase in Pakistan power sector circular debt should not be interpreted as a reversal of reform efforts because it resulted primarily from lower-than-expected budgetary support rather than inefficiencies within power companies. Officials maintained that improvements in the financial health of distribution companies reflect sustained policy implementation and better governance across the sector. Govt Reaffirms Commitment To Sustainable Energy Sector The Power Division said it remains committed to continuing reforms designed to make Pakistan’s electricity sector financially sustainable while ensuring reliable power supply for consumers. It reiterated that the budget reduction was a temporary fiscal measure linked to broader government austerity efforts and not an indication of weakening sector performance. Going forward, officials said the government will continue implementing structural reforms aimed at reducing losses, improving recoveries, strengthening the financial position of power companies, and gradually lowering the country’s circular debt in line with commitments made under the IMF programme.

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Pakistan Palm Oil Imports Hit Record 3.48 Million Tonnes as Tax Changes Threaten Cooking Oil Prices

Web Desk / July 29, 2026

Pakistan Palm Oil Imports surged to an all-time high during fiscal year 2025-26, highlighting the country’s growing dependence on imported edible oil while exposing long-standing policy failures that continue to threaten food security and consumer affordability. According to the Pakistan Bureau of Statistics (PBS), the country imported 3.482 million tonnes of palm oil worth $3.785 billion in FY26, compared to 3.214 million tonnes valued at $3.4 billion in the previous fiscal year. The latest figures underline not only increasing domestic demand but also Pakistan’s inability to develop a sustainable edible oil production strategy despite decades of reliance on costly imports. Pakistan Palm Oil Imports Continue to Rise Despite Higher Global Prices The average import price of palm oil increased to $1,078 per tonne during FY26 from $1,056 per tonne in FY25. Although the increase appears modest, the higher import volume significantly raised Pakistan’s overall import bill, placing additional pressure on the country’s foreign exchange reserves. Industry experts believe the demand for edible oil is expanding much faster than domestic agricultural production. Population growth, urbanisation and changing consumption patterns have pushed annual edible oil consumption to approximately 4.8 million tonnes, up from around four million tonnes just five years ago. This widening gap between demand and domestic production continues to force Pakistan to rely heavily on imported palm oil, leaving consumers vulnerable to international price fluctuations and currency depreciation. Lack of an Edible Oil Policy Raises Serious Questions Pakistan Vanaspati Manufacturers Association (PVMA) Chairman Sheikh Umer Rehan criticised successive governments for failing to introduce a comprehensive edible oil policy since the country’s independence. His criticism raises an important question: how can a nation importing billions of dollars worth of edible oil every year continue without a long-term strategy to reduce dependence on imports? While policymakers frequently discuss food security, little progress has been made to encourage large-scale cultivation of oilseed crops such as sunflower, canola and soybean. Production of traditional oilseed crops, including cottonseed, has also remained weak, further widening Pakistan’s import dependence. Without structural reforms and investment in domestic agriculture, the country’s edible oil import bill is likely to continue rising year after year. New Tax Mechanism Could Increase Cooking Oil Prices Another major concern for consumers is the Federal Budget FY27, which introduced a new sales tax mechanism for the edible oil and ghee sector. Under the revised taxation framework, sales tax will now be calculated on the Maximum Retail Price (MRP) instead of the ex-mill price. Industry representatives argue that this change will substantially increase the tax burden on manufacturers. According to the PVMA, the revised mechanism could raise retail prices of ghee and cooking oil by approximately Rs10 to Rs15 per kilogram, adding another layer of inflation for already burdened households. The association has also criticised the Federal Board of Revenue (FBR), alleging that instead of simplifying tax compliance and improving the business environment, the authority is introducing additional complexities for manufacturers. Consumers Already Paying Higher Prices Market data already reflects a gradual increase in edible oil prices across Pakistan. The national average price of a five-litre cooking oil container currently ranges between Rs2,975 and Rs3,110, compared with Rs2,800 to Rs3,000 a year earlier. Similarly, 2.5-kilogram packs of ghee now sell for Rs1,500 to Rs1,565, while one-kilogram packs are priced between Rs590 and Rs610, both recording noticeable increases over the previous year. Although these increases appear moderate individually, they add significant financial pressure on millions of households already struggling with inflation and rising living costs. Pakistan Must Reduce Import Dependence The record Pakistan Palm Oil Imports should serve as a wake-up call for policymakers. Increasing imports may satisfy immediate demand, but they also expose the economy to external price shocks, exchange rate volatility and growing pressure on foreign reserves. Rather than relying almost entirely on imported edible oil, Pakistan urgently needs a comprehensive national strategy that encourages domestic oilseed cultivation, supports farmers through targeted incentives and promotes investment in modern agricultural technology. Without meaningful reforms, consumers will continue paying higher prices while the country’s import bill keeps climbing. The record-breaking Pakistan Palm Oil Imports in FY26 demonstrate both the strength of domestic demand and the weaknesses in Pakistan’s agricultural and food security policies. As new taxation measures threaten to push cooking oil and ghee prices even higher, the government faces increasing pressure to balance revenue collection with consumer protection. Unless long-overdue structural reforms are implemented, Pakistan’s dependence on imported edible oil is likely to deepen, making future price shocks even more difficult to manage.

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