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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.

HUBCO Profit Declines Despite Strong Operations Amid Rising Taxes
Business, Editor pick

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.

KCCI raises alarm over targeted attack on industrialist Warns of resurgent extortion mafia, collapsing law & order
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KCCI raises alarm over targeted attack on industrialist, warns of resurgent extortion mafia, collapsing law & order

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KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Rehan Hanif, while expressing grave concern over a brazen firing incident in New Karachi in which a prominent industrialist was critically injured, termed the attack a chilling reflection of the rapidly deteriorating law and order situation and the alarming resurgence of organized extortion networks in the city. Read More: https://theboardroompk.com/nbp-dividend-delay-raises-investor-concerns-despite-record-profit/ In a statement issued, Rehan Hanif stated that Farzand Ali, a member of the North Karachi Association of Trade & Industry (NKATI), was targeted by unidentified armed assailants within the jurisdiction of New Karachi Police Station. As a result of the attack, he sustained two bullet injuries and was immediately shifted to a nearby hospital, where his condition is reported to be critical. Rehan Hanif strongly condemned the incident and categorically described it as a direct consequence of rising extortion activities, emphasizing that the business and industrial community is increasingly being pushed into a state of fear and insecurity. He warned that such incidents are no longer isolated but indicative of a broader and more dangerous trend. He further noted that the incident triggered an immediate response from the business community, as a large number of traders and industrialists rushed to the hospital to express solidarity with the injured industrialist, reflecting the deep concern and anxiety prevailing across commercial circles. President KCCI demanded that the government and law enforcement agencies take immediate, transparent, and decisive action to address the situation. He called for the swift arrest of those involved and the strengthening of police presence and intelligence-based operations in industrial zones. He warned that any continued inaction would inflict serious and long-term damage on investor confidence, disrupt industrial operations, and further erode the already fragile economic environment of Karachi, ultimately discouraging both local and foreign investment. Emphasizing that the safety and security of businessmen and industrialists is non-negotiable, Rehan Hanif stated, “We demand a comprehensive and immediate security framework to protect industrialists, traders, and the broader business community. Every instance of an extortion call must be treated as a high-priority threat, with prompt response, effective follow-up, and strict accountability of law enforcement agencies.” He further stressed that isolated measures would not suffice, and a technology-driven, city-wide security mechanism must be urgently implemented. “The Safe City Project must be made fully operational across Karachi without any further delay, with particular focus on all industrial zones, where economic activity remains highly vulnerable to criminal elements. Integrated surveillance, real-time monitoring, and rapid response systems are essential to deter extortion networks and restore confidence among stakeholders,” he added. Rehan Hanif cautioned that if urgent corrective measures are not taken, the business community may be compelled to adopt a strong and united course of action, including protests, to safeguard their lives, investments, and economic interests.

Strait of Hormuz Scam Alert, Fake Messages Target Ships as Blockade Disrupts Global Trade
Editor pick, World

Strait of Hormuz Scam Alert, Fake Messages Target Ships as Blockade Disrupts Global Trade

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A serious Strait of Hormuz scam alert has emerged as fraudulent actors exploit rising tensions between the United States and Iran. Greek maritime risk management firm MARISKS has warned shipping companies about fake messages promising safe passage through the strategic waterway in exchange for cryptocurrency payments. Read More: https://theboardroompk.com/two-week-ceasefire-ends-us-and-iran-trade-threats-as-tensions-escalate/ Fake Messages Target Stranded Ships According to MARISKS, several shipping companies received suspicious messages while their vessels remained stranded west of the Strait of Hormuz. These messages claimed to offer secure transit through the blocked route but demanded payment in digital currencies such as Bitcoin and Tether. The firm clarified that these communications are fraudulent and have no connection to Iranian authorities. The scam attempts to take advantage of the ongoing crisis and the desperation of shipping operators facing delays and financial losses. How the Scam Operates The fraudulent messages follow a calculated pattern. They claim to represent Iranian security services and promise to assess a vessel’s eligibility for safe passage. Once approved, the sender demands a fee in cryptocurrency before granting clearance. One such message cited by MARISKS stated that after submitting documents and verification, a payment in Bitcoin or USDT would ensure uninterrupted transit at a pre-arranged time. However, experts have confirmed that this is a classic scam designed to exploit uncertainty in the region. Renewed Blockade Intensifies Crisis The Strait of Hormuz scam alert comes as Iran has once again imposed a blockade on the waterway. This move followed Washington’s decision not to lift restrictions on Iranian ports. The renewed standoff has escalated tensions and disrupted one of the world’s most critical maritime routes. The Strait of Hormuz carries nearly 20 percent of global oil and energy supplies. Any disruption in this narrow passage has immediate consequences for global trade and energy markets. Hundreds of Ships Stranded The ongoing blockade has left hundreds of vessels stranded in the Gulf. Reports suggest that nearly 20,000 seafarers are currently affected by the disruption. Shipping companies are facing mounting operational challenges, including delays, rising costs, and uncertainty over safe navigation routes. This situation has created an environment where fraudsters can easily target vulnerable operators. The promise of guaranteed transit has become a powerful lure, especially for companies under pressure to deliver cargo on time. No Official Response from Iran So far, Iranian authorities have not issued any official statement regarding the scam warning. However, MARISKS has emphasized that these messages are not linked to any legitimate government agency. Security experts advise shipping firms to ignore such communications and verify all transit-related instructions through official maritime channels. They also recommend heightened vigilance as cyber threats and financial scams often increase during geopolitical crises. Talks Expected in Pakistan Amid rising tensions, diplomatic efforts continue to prevent further escalation. Officials from the United States and Iran are expected to resume high-level talks in Pakistan. These discussions aim to find a path toward de-escalation and potentially ease restrictions affecting maritime trade. The outcome of these talks could play a critical role in determining the future of the blockade and the safety of global shipping routes. Global Impact and Growing Concerns The Strait of Hormuz scam alert highlights the broader risks associated with geopolitical instability. As tensions rise, not only do physical threats increase, but digital and financial risks also expand. Experts warn that if the blockade continues, global oil prices could surge further, while supply chains may face prolonged disruptions. At the same time, cybercriminals and rogue actors are likely to intensify their activities, targeting industries already under strain.

Two-Week Ceasefire Ends, US and Iran Trade Threats as Tensions Escalate
Editor pick, Politics

Two-Week Ceasefire Ends, US and Iran Trade Threats as Tensions Escalate

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The fragile truce between the United States and Iran is nearing a critical deadline as the two-week ceasefire ends, raising fears of renewed conflict in the Middle East. Both sides have intensified rhetoric, exchanged threats, and signaled readiness for escalation if negotiations fail to produce a breakthrough. Read More: https://theboardroompk.com/zong-paa-redefine-travel-connectivity-with-pakistans-first-5g-facilitation-sales-kiosk-at-islamabad-international-airport/ Rising Tensions Ahead of Deadline The ceasefire, which began earlier this month after weeks of intense conflict, was meant to create space for diplomacy. However, as the two-week ceasefire ends, the situation appears more volatile than ever. Leaders from both countries have issued strong warnings, reflecting deep mistrust and unresolved disputes. Iranian officials have warned that they are prepared to take decisive action if the ceasefire collapses. At the same time, US leadership has threatened severe consequences if Tehran refuses to negotiate on key issues, including its nuclear program and regional influence. Breakdown of Diplomatic Efforts Efforts to extend the truce or initiate meaningful dialogue have faced serious obstacles. Planned talks in Islamabad remain uncertain, with Iran signaling reluctance to participate. Tehran has accused Washington of violating the ceasefire through military actions and naval operations in strategic waterways. One major flashpoint emerged after US forces seized an Iranian-flagged vessel near the Strait of Hormuz. Iran condemned the move as a breach of the truce and international law. This incident has further strained already fragile diplomatic channels and cast doubt on the future of negotiations. Military Posturing and Strategic Signals As the two-week ceasefire ends, both sides have increased military readiness. Iran has hinted at unveiling new strategies on the battlefield, while the US has maintained a strong military presence in the region. The situation reflects a dangerous balance where diplomacy continues alongside preparations for conflict. Analysts note that neither side has shown willingness to compromise on core demands. These include sanctions relief, control over regional waterways, and security guarantees. The lack of progress has reinforced fears that the ceasefire may collapse without a replacement agreement. Global Economic Concerns Grow The rising tensions have already affected global markets. Oil prices have fluctuated sharply as investors react to uncertainty in the Middle East. The Strait of Hormuz remains a critical chokepoint, with disruptions threatening global energy supplies. Recent developments, including restricted shipping routes and increased military activity, have amplified concerns about a potential energy crisis. Analysts warn that prolonged instability could push oil prices significantly higher and disrupt international trade flows. Uncertain Path Forward With only hours left before the two-week ceasefire ends, the path forward remains unclear. Diplomatic efforts continue behind the scenes, but public statements from both sides suggest limited optimism. The possibility of renewed hostilities looms large, especially if negotiations fail to resume. Experts emphasize that the current ceasefire is not a permanent solution but a temporary pause in a deeper conflict. Without a comprehensive agreement, the region risks sliding back into violence, with far-reaching consequences for global stability.

Japan Earthquake Triggers Tsunami Warning After Powerful 7.4 Magnitude Tremor
Editor pick, Environment

Japan Earthquake Triggers Tsunami Warning After Powerful 7.4 Magnitude Tremor

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A powerful Japan earthquake measuring 7.4 magnitude struck northern Japan on Monday, prompting authorities to issue an urgent tsunami warning. The tremor shook coastal regions and triggered immediate evacuation alerts across vulnerable areas. According to the Japan Meteorological Agency, the earthquake hit at 4:53 pm local time in the Pacific Ocean off the coast of Iwate Prefecture. The impact spread widely, with strong shaking reported even in Tokyo, hundreds of kilometres away. Tsunami Warning Issued as Waves Threaten Coast Authorities quickly issued a tsunami warning following the Japan earthquake. Officials warned that waves could reach heights of up to three metres. The agency stated that the earliest waves could hit northern coastal areas almost immediately. Emergency alerts urged residents to evacuate without delay. Officials directed people living near the coast and rivers to move to higher ground or designated evacuation buildings. They also warned that tsunami waves could arrive in multiple surges. “Do not leave safe areas until the warning is officially lifted,” the agency emphasized. Officials stressed that repeated waves could increase the risk of damage and casualties. Government Activates Crisis Response The Japanese government responded swiftly to the Japan earthquake. Prime Minister Sanae Takaichi confirmed that a crisis management team had been established. She urged residents in affected areas to follow evacuation orders and prioritize safety. Authorities began assessing the situation to determine the extent of damage and any potential casualties. Initial reports did not confirm significant destruction, but officials remained cautious. Footage aired by NHK showed several ports in Iwate with no immediate visible damage. However, authorities continued monitoring the situation closely. Strong Tremors Felt Across Regions The Japan earthquake caused strong tremors across northern regions and beyond. Buildings swayed in several cities, including Tokyo. Residents reported panic as the shaking lasted for several seconds. Despite the intensity, early indications suggested limited immediate damage. However, experts warned that aftershocks could follow. Authorities advised residents to remain alert and prepared for further seismic activity. Japan’s High Earthquake Risk Japan remains one of the most earthquake-prone countries in the world. The nation sits along the Pacific Ring of Fire, where multiple tectonic plates meet. This location exposes the country to frequent seismic activity. The country experiences around 1,500 earthquakes each year. These account for nearly 18 percent of global seismic activity. Most quakes are minor, but larger ones can cause significant damage depending on their depth and location. Memories of the 2011 Disaster Resurface The latest Japan earthquake has revived memories of the devastating 2011 Tohoku Earthquake and Tsunami. That 9.0 magnitude quake triggered massive tsunami waves and caused widespread destruction. The disaster killed around 18,500 people and led to a nuclear crisis at the Fukushima power plant. It remains one of the most tragic events in Japan’s modern history. Concerns Over Future Megaquakes Experts continue to warn about the risk of a major earthquake along the Nankai Trough. This zone has the potential to generate a powerful megaquake. In 2024, the Japan Meteorological Agency issued its first advisory warning about such a possibility. The alert caused widespread concern and even led to panic buying and travel cancellations. Authorities estimate that a megaquake in this region could cause catastrophic damage. Government projections suggest it could lead to nearly 298,000 deaths and economic losses reaching $2 trillion. A similar advisory followed in December 2025 after a magnitude 7.5 earthquake struck off the northern coast. That event caused injuries but limited structural damage. Ongoing Monitoring and Public Safety Efforts Following Monday’s Japan earthquake, authorities continue to monitor seismic activity and tsunami risks. Emergency teams remain on high alert. Officials are also assessing infrastructure and coastal areas for potential damage. Residents have been urged to stay informed through official channels. Authorities emphasized the importance of following evacuation orders and avoiding coastal zones until conditions stabilize. The situation remains fluid. While no major damage has been confirmed yet, the risk of aftershocks and further tsunami waves keeps authorities vigilant.

Fazeela Abbasi Gets Bail Extension in Illegal Clinic Case
Editor pick, Pakistan

Fazeela Abbasi Gets Bail Extension in Illegal Clinic Case

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Islamabad court on Monday granted interim pre-arrest bail to dermatologist and social media personality Fazeela Abbasi in a case related to an allegedly illegal clinic. The development comes as legal proceedings continue against her on multiple charges. Read More: https://theboardroompk.com/us-iran-talks-in-doubt-amid-mixed-signals-ahead-of-islamabad-meeting/ The development took place during a hearing at the Special Central Court in Islamabad, where Judge Humayun Dilawar heard arguments from both sides and issued the ruling. Court Provides Temporary Protection During the hearing, the court extended interim protection from arrest and allowed Abbasi to remain on bail until the next hearing. The judge directed her to fully cooperate with investigators and join the inquiry without delay. Abbasi appeared before the court along with her counsel Naeem Bukhari. Her lawyer submitted a pre-arrest bail application and argued that his client required protection while the investigation continued. After reviewing the arguments, the court accepted the request and granted bail against surety bonds worth Rs50,000. The court also warned that the protection remained conditional on cooperation with the investigation process. The judge emphasized that Abbasi must not avoid legal proceedings and must respond to all notices issued by investigators. The case was then adjourned until May 5 for further proceedings. FIA Registers Two Cases Officials confirmed that the Federal Investigation Agency has registered two separate cases against Abbasi. Both cases relate to allegations of operating an unauthorized medical clinic. Investigators claim the clinic functioned without proper legal approval. They are currently collecting documents, statements, and operational records to verify the allegations. Authorities also stated that Abbasi faces a separate money laundering case. She is already on bail in that matter. The ongoing legal cases have placed her under increasing scrutiny from law enforcement agencies. Officials said the investigation is in an active stage. They are examining whether any regulatory or financial violations took place during the operation of the clinic. Earlier Court Developments The case has already moved through multiple judicial levels. The Islamabad High Court had earlier restored Abbasi’s interim bail in the money laundering case after a lower court rejected her request. The lower court had dismissed her bail application due to her absence during a scheduled hearing. It also rejected her request for exemption on medical grounds. The court stated that her absence amounted to misuse of the concession granted under pre-arrest bail provisions. Following that decision, Abbasi approached the Islamabad High Court. The high court granted temporary relief and directed her to pursue legal remedies before the trial court. This allowed her to continue under interim protection. Legal Proceedings Intensify The ongoing case reflects growing legal pressure as multiple investigations continue against Abbasi. Authorities are closely monitoring her compliance with court orders and investigation procedures. Legal experts say pre-arrest bail does not indicate innocence or guilt. Instead, it prevents immediate arrest while investigations continue. They note that cooperation with investigators remains a key condition for maintaining bail. Officials expect Abbasi to submit required documentation and respond to queries related to the alleged clinic operations. Failure to comply could result in cancellation of her bail and possible arrest. Next Hearing Set for May 5 The court has scheduled the next hearing for May 5. During this session, investigators may present additional evidence or progress reports. The court will review the investigation status before deciding whether to extend or modify the bail conditions. Further legal action will depend on the findings submitted by the prosecution. For now, Abbasi remains free on interim bail while legal proceedings continue. The outcome of the case will depend on evidence collected and her cooperation with authorities in the coming weeks.

Pakistan Partners with IFC for Large-Scale Smart Meters Rollout Across Power Sector
Editor pick, Pakistan

Pakistan Partners with IFC for Large-Scale Smart Meters Rollout Across Power Sector

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Pakistan has moved ahead with a major energy sector reform by appointing the International Finance Corporation (IFC) of the World Bank Group as transaction adviser for the nationwide rollout of smart meters across electricity distribution companies. Read More: https://theboardroompk.com/us-iran-talks-in-doubt-amid-mixed-signals-ahead-of-islamabad-meeting/ The initiative aims to modernize the country’s power distribution system and install 10 million smart meters across all Discos under a structured public-private partnership model. IFC to Guide Smart Meter Implementation Framework The Ministry of Energy (Power Division) confirmed on Monday that it has signed a Transaction Advisory Services Agreement with the IFC. Under this agreement, the IFC will act as the transaction adviser for the large-scale deployment of smart meters. Officials said the IFC will conduct a detailed techno-commercial assessment to design a service-provider model or public-private partnership framework. This structure will help attract both local and international investors for installation, operation, and maintenance of smart metering infrastructure. The government expects this model to reduce financial pressure on the public sector while accelerating digital transformation in the electricity network. Major Reform Push in Power Distribution System Authorities said the smart meters rollout forms a central part of Pakistan’s ongoing power sector reforms. The Ministry of Energy has accelerated efforts to replace outdated systems with modern digital infrastructure. Officials said the transformation aims to improve transparency, strengthen operational efficiency, and ensure long-term financial stability in electricity distribution companies. The reform agenda also focuses on reducing electricity theft, improving billing accuracy, and minimizing human intervention in meter reading processes. Advanced Smart Metering System to Improve Efficiency The introduction of Advanced Metering Infrastructure (AMI) will support the nationwide deployment of smart meters. Officials said the system will allow real-time monitoring of electricity consumption. Smart meters will help detect irregular usage patterns and reduce electricity theft through anomaly detection. They will also improve billing accuracy and recovery rates across distribution networks. Energy officials said the system will eliminate manual errors and increase transparency in electricity usage, benefiting both consumers and utility providers. Government Opens Door for Private Investment The government has planned to involve private investors in the smart meters project through a service-provider model. Investors will finance and manage the infrastructure under agreed commercial arrangements. Officials said this approach will help speed up deployment and reduce reliance on public funding. They added that the participation of international investors will bring technical expertise and financial strength to the project. The Power Division believes this model will improve efficiency and ensure faster rollout across the country. Nationwide Installation Plan for Discos All electricity distribution companies have been instructed to install smart meters for every new electricity connection. Authorities have also stopped the issuance of traditional meters for new consumers. In addition, existing three-phase consumers will be gradually shifted to smart metering systems. The government has set deadlines for converting commercial and industrial users into the digital system. Officials said the transition will ensure complete integration of high-consumption users into the smart grid. Cost Reduction Achieved Through Competitive Bidding The Power Division announced that it has reduced the cost of smart meters by 40 percent through international competitive bidding. Officials said this reduction will generate significant savings for the national budget. They added that the cost savings will eventually benefit consumers by improving efficiency and reducing system losses in the power distribution chain. NEPRA Supports Meter Replacement Program The National Electric Power Regulatory Authority (NEPRA) has also supported the rollout by allowing distribution companies to replace faulty meters with smart meters. This regulatory approval is expected to speed up the transition process. Officials said it will help eliminate outdated equipment and improve billing accuracy across the system. NEPRA’s decision aligns with broader efforts to digitize Pakistan’s electricity grid. Focus on Transparency and Consumer Benefits The Power Division said the smart meters initiative will improve transparency in the power sector and strengthen consumer trust. Officials emphasized that real-time monitoring will give users better control over their electricity consumption. They said the project will reduce billing disputes, improve service delivery, and enhance accountability in electricity distribution companies. Long-Term Digital Transformation Goal Authorities said the smart meters rollout represents a long-term shift toward a fully digital power system. The government aims to build a modern energy infrastructure that is efficient, transparent, and financially sustainable. Officials said the project will help reduce losses, improve revenue collection, and support broader economic stability in the energy sector. They added that the success of the initiative will depend on strong investor participation, effective regulation, and smooth implementation across all distribution companies.

Made in Pakistan: Spotify Marks 5 Years of Music Discovery and Homegrown Growth
Editor pick, Pakistan

Made in Pakistan: Spotify Marks 5 Years of Music Discovery and Homegrown Growth

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Karachi, April 16, 2026 — In Pakistan, listeners are exploring more music than ever before—moving across genres, generations, and languages in ways that are reshaping how music is discovered and experienced. Five years since its launch in the country, Spotify is marking a milestone defined not just by growth, but by a shift in how deeply audiences are engaging with music. Since 2021, Spotify has become an integral part of how music is experienced in Pakistan. Over this period, listenership on the platform has grown by more than 750%, while listeners have created over 15 million user-generated playlists, highlighting how actively audiences are curating and shaping their own music journeys. This shift is also reflected in listening behavior. Today, the average Spotify listener in Pakistan streams more than 140 different artists per year, pointing to a highly discovery-driven audience where exploring new music is the norm. A Diverse and Evolving Sound From Pakistani hip hop, Pakistani pop, and qawwali to regional sounds, listeners in Pakistan are embracing a wide range of genres, reflecting a music culture that blends tradition with contemporary influences and continues to evolve rapidly. As listening becomes more diverse, more listeners are discovering and engaging with Pakistani artists, with local music continuing to grow on Spotify. Since 2021, total plays of Pakistani artists on the platform have grown more than sevenfold, pointing to a deeper connection between audiences and homegrown talent. The artists defining this moment reflect that growth. From contemporary voices like Talha Anjum, Umair, and Hasan Raheem, to enduring icons such as Atif Aslam and Nusrat Fateh Ali Khan, listeners are moving seamlessly between new and legacy sounds—highlighting the breadth of Pakistan’s musical identity. Similarly, tracks like “Jhol” by Maanu and Annural Khalid, “Pal Pal” by Afusic and AliSoomroMusic, “Wishes” by Hasan Raheem, Umair, and Talwiinder, “Bikhra” by Abdul Hannan and Rovalio, and “Maand” by Bayaan, Hasan Raheem, and Rovalio have emerged as defining songs of the streaming era. Championing Homegrown Music This momentum is being shaped through Spotify’s continued investment in Pakistani music. Playlists like “Pakka Hit Hai” have become a home for the country’s biggest contemporary hits, while “ICON Pakistan” celebrates the legacy of Pakistan’s most influential artists. Pakistan’s music ecosystem is expanding rapidly. Since launch, the number of Pakistani artists on Spotify has grown by nearly 75%, as more creators enter the space and reach audiences both locally and globally. Supporting Artists Across Pakistan Supporting this evolution remains a key focus for Spotify. Through initiatives like “RADAR Pakistan”, “EQUAL Pakistan”, and “Fresh Finds Pakistan”, the platform continues to invest in artists at every stage, helping emerging voices break through while supporting established talent in reaching new audiences. “Music has always been at the heart of culture in Pakistan, but what we’re seeing now is a new level of connection. Listeners are exploring more, discovering faster, and showing up for homegrown artists in a way that feels truly powerful,” said Rutaba Yaqub, Spotify’s Artist & Label Partnerships Manager for Pakistan & UAE. “From emerging voices to iconic legends, there’s a real momentum behind Pakistani music today, and it’s exciting to see how that continues to grow.” Together, these shifts point to a music culture that is becoming increasingly open, dynamic, and discovery-led, where listeners are not only shaping what’s popular, but actively driving the rise of new artists and sounds across Pakistan. Listeners can explore the tracks that defined the past five years on Spotify’s “Made in Pakistan” playlist.https://open.spotify.com/playlist/37i9dQZF1DXbdNlwEdmFJI Most-Streamed Pakistani Artists in Pakistan in the Last 5 Years Most-Streamed Pakistani Tracks in Pakistan in the Last 5 Years

Pakistan-China Economic Cooperation Discussed at IMF–World Bank Meetings
Editor pick, Pakistan

Pakistan-China Economic Cooperation Discussed at IMF–World Bank Meetings

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Pakistan-China economic cooperation took center stage as Finance Minister Muhammad Aurangzeb held high-level meetings with Chinese leadership during the IMF and World Bank Spring Meetings in Washington D.C.. The engagements focused on strengthening bilateral ties, mobilising external financing, and reinforcing Pakistan’s improving economic outlook. The minister used the platform to highlight Pakistan’s macroeconomic progress and ongoing reform measures. He emphasized the government’s commitment to stabilizing the economy and expanding strategic partnerships. Meeting with Chinese Finance Minister During his meeting with Lan Fo’an, Aurangzeb expressed appreciation for China’s consistent support for Pakistan. He acknowledged Beijing’s role in facilitating Pakistan’s engagements with the International Monetary Fund. The finance minister briefed his Chinese counterpart on Pakistan’s progress under the IMF programme. He highlighted the successful Staff-Level Agreement for the third review under the Extended Fund Facility and the second review under the Resilience and Sustainability Facility. Officials expect the IMF Executive Board to approve these reviews in early May. This approval would unlock further financial support and strengthen investor confidence. Updates on Financial Stability Measures Aurangzeb informed the Chinese side that Pakistan has repaid a $1.4 billion Eurobond. He also highlighted additional financial inflows secured from Saudi Arabia, which have supported foreign exchange reserves. He shared details about Pakistan’s plan to issue its first Panda Bond. This move aims to diversify funding sources and tap into China’s capital markets. The minister also noted a growing trend in bilateral trade settlement using the Chinese Renminbi. He stressed the need to expand the currency swap facility to support increasing trade volumes between the two countries. Regional Diplomacy and Strategic Support The finance minister appreciated China’s recognition of Pakistan’s mediation efforts in ongoing regional tensions. He reaffirmed Pakistan’s commitment to promoting peace and stability in the region. Aurangzeb also reiterated Pakistan’s full support for the establishment of the Shanghai Cooperation Organization Development Bank. He noted that Pakistan will actively pursue this initiative during its upcoming presidency of the SCO. Both sides expressed satisfaction with continued coordination at international financial forums. They agreed to strengthen collaboration at both the IMF and World Bank levels. Meeting with People’s Bank of China Governor In a separate meeting, Aurangzeb met Pan Gongsheng, Governor of the People’s Bank of China. The discussion focused on Pakistan’s financing strategy and ongoing IMF programme reviews. The finance minister updated the Chinese central bank on progress related to the Panda Bond issuance. He requested faster regulatory approvals to ensure timely execution of the plan. Aurangzeb also highlighted Pakistan’s policy measures to address economic challenges linked to regional instability. These measures include targeted subsidies and demand management strategies to protect key sectors. Invitation to Strengthen Bilateral Engagement Pan Gongsheng invited the finance minister to visit Beijing in the near future. The invitation reflects China’s interest in deepening economic engagement with Pakistan. Officials see this as an opportunity to accelerate financial cooperation and expand bilateral trade frameworks. Future discussions are expected to focus on investment, infrastructure, and financial integration. Strengthening Economic Outlook The meetings underscore Pakistan’s efforts to build stronger economic partnerships while maintaining reform momentum. Engagement with China remains central to Islamabad’s strategy for long-term stability and growth. Analysts believe continued cooperation between Pakistan and China will help address external financing needs and promote sustainable development. The focus on Pakistan China economic cooperation highlights the importance of strategic alliances in navigating global economic challenges. Both countries appear committed to expanding collaboration across financial, trade, and development sectors.

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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