Pakistan

Pakistan has received a significant financial boost at a critical time, as the State Bank of Pakistan (SBP) confirmed an inflow of US$1.2 billion from the International Monetary Fund (IMF). The disbursement has arrived under the Fund’s Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF), two programs designed to support economic reforms and strengthen resilience against long-term challenges. This development marks an important milestone in Pakistan’s ongoing efforts to stabilize its economy, rebuild confidence, and strengthen its foreign exchange reserves. IMF Completes Second Review, Approves Major Disbursement: On 8 December 2025, the IMF Executive Board completed the second review of Pakistan’s Extended Fund Facility. Following the review, the Board approved: • SDR 760 million under the EFF• SDR 154 million as the first tranche under the RSF These approvals came after months of technical discussions and policy negotiations between Pakistan and the IMF teams in Karachi, Islamabad, and Washington, led by mission chief Iva Petrova. As a result, Pakistan received a total of SDR 914 million, equivalent to roughly US$1.2 billion, on 10 December 2025. Why This IMF Inflow Matters for Pakistan’s Economy: For a country grappling with sluggish economic growth, high inflation, and persistent foreign exchange shortages, the IMF’s financial support acts as a critical stabilizing anchor. Pakistan has been relying on IMF programs to restore macroeconomic stability, and earlier entered a short-term Stand-By Arrangement (SBA) to keep its economic framework intact while introducing necessary structural reforms. These reforms include restoring fiscal discipline, stabilizing the exchange rate, improving energy-sector management, and strengthening governance. A Much-Needed Boost for Reserves and Stability: The fresh IMF funds are expected to: • Strengthen Pakistan’s foreign exchange reserves• Reduce pressure on the balance of payments• Improve confidence in the country’s external financing outlook• Provide breathing room for the government to manage debt repayments• Support financial markets by enhancing currency stability For businesses, investors, and financial institutions, this inflow signals greater short-term predictability and reduced volatility, key ingredients for economic planning and investment decisions. Looking Ahead: Cautious Optimism for 2026: While the IMF inflow provides immediate relief, Pakistan’s long-term economic stability will depend on consistent implementation of reforms, improved export competitiveness, and sustained investor confidence. But for now, the US$1.2 billion boost offers a timely cushion and a clearer path as the country moves toward economic recovery.

In a promising development for Pakistan’s energy sector, Pakistan Petroleum Limited (PSX: PPL) has announced a major oil and gas discovery at the Baragzai X-01 (Slant) exploratory well, located in the Nashpa Block of district Kohat, Khyber Pakhtunkhwa. The discovery marks a significant step forward in strengthening Pakistan’s indigenous energy resources at a time when the country is seeking reliable, local solutions to its rising energy demands. A Joint Effort Led by Industry Leaders: The Baragzai X-01 well is operated by Oil & Gas Development Company Limited (OGDCL), which holds a 65% working interest in the project. PPL owns a 30% stake, while Government Holdings (Private) Limited (GHPL) carries the remaining 5%. This collaboration brings together three leading players in Pakistan’s upstream energy sector—each contributing technical expertise, capital and strategic oversight. Journey to Discovery: From Drilling to Breakthrough: Drilling operations for Baragzai X-01 began on 24 December 2024, targeting deep formations in the Nashpa Block. The drilling team eventually reached an impressive depth of 5,170 meters in the Kingriali Formation, a geological layer that had never before delivered a hydrocarbon find in this block.Following the drilling phase, experts analyzed open-hole wireline logs and moved forward with a cased-hole Drill Stem Test (DST) a critical step to evaluate the formation’s productivity. The test delivered highly encouraging results. Strong Production Flow Rates Confirm Commercial Potential: The well produced:• 2,280 barrels of oil per day• 5.6 million standard cubic feet of gas per day• Choke size: 32/64″• Wellhead flowing pressure: 2,400 psi These strong flow rates highlight the well’s commercial viability and place Baragzai X-01 among the more promising discoveries in recent years. A First for the Kingriali Formation in Nashpa: Perhaps the most remarkable aspect of this discovery is that it is the first-ever hydrocarbon find from the Kingriali Formation within the Nashpa Block. This success significantly reduces exploration risk for deeper, yet-to-be-tested prospects in the surrounding region. For exploration teams and investors, this means new opportunities and potentially new energy corridorsin previously under-estimated geological zones. Boosting Pakistan’s Energy Security and Hydrocarbon Reserves: With energy imports placing immense pressure on Pakistan’s foreign exchange reserves, this discovery couldn’t have come at a better time. The new production is expected to: • Expand Pakistan’s indigenous hydrocarbon supply• Reduce reliance on imported fuels• Strengthen national reserve levels• Support energy security through domestic production For Pakistan’s economy, the long-term impact could be substantial as more discoveries like this help stabilize the country’s energy landscape. A Milestone Discovery with Long-Term Benefits: PPL’s latest breakthrough at Baragzai X-01 is more than just another drilling success, it represents a strategic step toward a more secure and self-reliant energy future for Pakistan. As deeper prospects in the Nashpa Block are evaluated with renewed confidence, this discovery may pave the way for a new chapter in the country’s upstream exploration narrative.

Islamabad, December 11, 2025 – The Directorate General of Immigration & Passports (DGIP) has rolled out a new biometric verification system that eliminates the recurring technical glitches faced by online passport applicants, especially Pakistanis living abroad. Applicants can now complete fingerprint verification directly through NADRA’s official Pak-ID mobile app. In case fingerprints cannot be captured (due to worn ridges, poor lighting, or age-related issues), the app automatically offers a secure facial recognition alternative. Read More: https://theboardroompk.com/nadra-introduces-new-simplified-process-for-address-update-on-cnic/ Speaking on the launch, Director General Passports Mustafa Jamal Qazi said overseas Pakistanis and senior citizens had been the worst affected by the previous system’s frequent failures. “This upgrade is a game-changer for millions of Pakistanis abroad and elderly citizens at home,” he added. The new facility is part of DGIP’s aggressive push toward full digitisation and citizen-centric services. “We are introducing every possible modern tool to make passport issuance fast, transparent and hassle-free,” the DG stated. How the new process works: Begin your application on the DGIP Online Passport portal and note the Tracking ID shown at the biometric step. Open the NADRA Pak-ID app → Select “Online Passport” option. Enter your CNIC/NICOP number and the Tracking ID. Capture fingerprints using the app’s camera-guided tool. If fingerprint capture fails, switch to live facial verification. Upon successful verification, the DGIP portal is updated instantly, allowing you to proceed with fee payment and final submission. The department says the camera-based system has drastically reduced verification rejections and completely removed the need to visit embassies or NADRA centres just for biometrics.

Washington/Islamabad– The United States has formally notified Congress on December 8 of a $686 million foreign military sale to upgrade and sustain the Pakistan Air Force’s F-16 fleet, triggering the mandatory 30-day Congressional review period. The Defense Security Cooperation Agency (DSCA) stated that the package includes advanced Link-16 data-link systems, secure cryptographic equipment, avionics upgrades, pilot training, spare parts, and long-term logistical support. The upgrades will extend the operational life of Pakistan’s Block-52 and Mid-Life Update F-16s through 2040 while addressing critical flight-safety issues. Read More: https://theboardroompk.com/centre-for-aerospace-and-security-studies-demands-overhaul-pakistans-aviation-to-rescue-5-6b-gdp-lifeline/ “This proposed sale will support the foreign policy and national security objectives of the United States by allowing Pakistan to retain interoperability with U.S. and partner forces in ongoing counterterrorism efforts,” the DSCA letter read. It added that the enhancements would enable “more seamless integration” between the Pakistan Air Force and U.S. Air Force during combat operations, exercises, and training. The decision comes amid a year after the Trump administration unfroze $397 million in Foreign Military Financing for Pakistan’s F-16 sustainment programme in February 2025, with the explicit condition that the jets be used only for counterterrorism and not against India. Relations between Washington and Islamabad have visibly warmed since President Donald Trump’s recent meetings with Prime Minister Shehbaz Sharif and Chief of Defence Forces Field Marshal Syed Asim Munir. The notification revives memories of the 2019 Balakot crisis when Pakistan was accused of using U.S.-supplied F-16s in an aerial engagement with India, prompting temporary suspension of security assistance. U.S. officials say the new package includes stricter end-use monitoring provisions. Congress now has until early January 2026 to block or modify the sale, though no formal objections have been announced yet.

ISLAMABAD: The Competition Commission of Pakistan (CCP) teams has conducted raids on three entities linked with the out-of-home media advertising market in Lahore. The raids were carried out as part of an inquiry into alleged cartelization, price fixing, and coordinated bid decisions in the sector. Out-of-home (OOH) advertising includes billboards, pole streamers, bus shelters, digital screens, vehicle branding, and other public-space displays. The sector involves multiple agencies and vendors, and any collective fixing of prices, commissions, or bid decisions can distort competition and increase advertising costs. Read More: https://theboardroompk.com/competition-commission-of-pakistan-cracks-down-on-sugar-mills-for-price-fixing-cartel-in-punjab/ The raids, including those carried out at two industry associations and an advertising agency, were part of an ongoing inquiry into alleged cartelization in the advertising sector. The inquiry was launched after a complaint by an advertising agency, which alleged that the association formed a cartel to fix agency commissions and took collective decisions on bids. The association was also accused of blacklisting agencies and vendors that did not comply with its terms and conditions. Section 4 of the Competition Act, 2010 prohibits associations of undertakings from making collective decisions on prices and other business terms. CCP teams collected evidence indicating potential violations of this provision. After the investigation is completed, the findings will be placed before the Commission, and if cartelization is established, show cause notices will be issued to the concerned undertakings. Chairman CCP Dr. Kabir Sidhu said that while industry associations serve useful functions for industrial development, they must remain cautious in meetings and ensure that no anticompetitive discussions take place.

Islamabad – In a significant step to reduce the crippling circular debt in Pakistan’s energy sector, Oil and Gas Development Company Limited (OGDCL) announced on Thursday that it has received Rs41.8 billion from Uch Power (Private) Limited. The payment, disclosed through a notice to the Pakistan Stock Exchange (PSX), forms part of a broader government initiative to clear outstanding receivables plaguing the power producers and exploration companies.Sources told Business Recorder that the Central Power Purchasing Agency-Guaranteed (CPPA-G) is facilitating a total payment of Rs89.5 billion to OGDCL on behalf of Uch Power Limited and Uch-II Power through the circular debt financing facility. Notably, the amount will be disbursed as a lump sum instead of the originally planned 18 equal monthly instalments, providing immediate liquidity relief to the state-owned explorer. Read More: https://theboardroompk.com/pakistans-energy-boost-ogdc-uncovers-major-hydrocarbon-haul-in-nashpa-block-eyes-2-8-mmcfd-output/ The transaction stems from a summary titled “Rationalisation of Late Payment Interest and Potential Reduction for Nuclear Power Plants” (covering Chashma-1 to 4, K-2 and K-3), which was approved by the Economic Coordination Committee (ECC) of the Cabinet.The accelerated settlement aligns with structural reforms being driven by a high-level Task Force constituted by Prime Minister Shehbaz Sharif on August 4, 2024. The Task Force is mandated to identify and implement far-reaching changes across generation, transmission, distribution, and governance to permanently curb the circular debt, which currently exceeds Rs2.6 trillion.Market analysts welcomed the development, stating that timely cash flows to OGDCL will strengthen its balance sheet, support ongoing exploration activities, and reduce pressure on the fiscal deficit. Shares of OGDCL closed 1.8% higher on the PSX following the announcement.

Karachi: Sri Lanka has taken another confident step toward strengthening its presence in the Pakistani travel market, as Sri Lanka Tourism concluded a vibrant and highly engaging B2B Roadshow and Networking Evening in Karachi. The event marked a major milestone in the island nation’s ongoing efforts to deepen tourism, trade, and cultural ties with Pakistan. Organized by the Sri Lanka Convention Bureau (SLCB) operating under the Ministry of Foreign Affairs, Foreign Employment and Tourism in collaboration with the Consulate General of Sri Lanka in Karachi and SriLankan Airlines, the roadshow reaffirmed Pakistan’s position as one of Sri Lanka’s most valuable and fast-growing source markets. Positioning Sri Lanka as a Year-Round Destination for Pakistani Travelers The event set out with a clear message: Sri Lanka is open fully, confidently, and enthusiastically for leisure, business, and MICE (Meetings, Incentives, Conferences & Exhibitions) tourism. From pristine beaches and cultural heritage to nature, adventure, wellness travel, and premium corporate experiences, Sri Lanka is aiming to capture the attention of Pakistani travelers across all segments. The Karachi roadshow highlighted: • Sri Lanka’s year-round tourism appeal• Its versatile experience offerings for leisure and business• The country’s strong resilience and sustainable tourism revival• The warm hospitality and close proximity that make Sri Lanka a top choice for Pakistani visitors A Strong B2B Turnout and High-Value Networking A delegation of leading Sri Lankan destination management companies participated in the event, engaging directly with Pakistan’s travel and tourism sector. More than 75 travel agents, industry leaders, and tourism stakeholders attended, making it one of the most successful Sri Lanka-focused tourism engagements in Pakistan in recent years. The result?Productive B2B conversations, new partnerships, and renewed confidence in Sri Lanka as a high-potential travel destination for Pakistani tourists. Rising Tourism From Pakistan: A Market on the Move Tourist arrivals from Pakistan to Sri Lanka are steadily increasing, with 20,701 Pakistani visitors recorded in 2025. Several factors are fueling this rise:• Improved air connectivity• Simplified visa processes• A resurgence in outbound leisure and business travel• Convenience of eight weekly SriLankan Airlines flights, four from Karachi and four from Lahore to Colombo This growing accessibility has positioned Sri Lanka as a competitive and easily reachable destination for Pakistani families, honeymooners, adventurers, and corporate travelers. Cultural Performances and Media Engagements Add Vibrance A Sri Lankan traditional dance troupe brought color and cultural energy to the evening, giving Karachi’s travel community a glimpse of the island’s rich heritage. Parallel media briefings with top Pakistani outlets amplified Sri Lanka’s tourism message, expanding public awareness and reinforcing its renewed tourism momentum. Mr. Sanjeewa PattiwilaConsul General of Sri Lanka in KarachiHe highlighted the centuries-old ties between both nations—cultural, religious, and historical—and invited Pakistani travelers to explore Sri Lanka’s natural beauty, warmth, and diversity. He also expressed gratitude for Pakistan’s humanitarian assistance following Cyclone Ditwah in November 2025. Mr. Dheera HettiarachchiChairman, Sri Lanka Convention Bureau (SLCB)He emphasized Sri Lanka’s comprehensive offerings for both leisure and MICE tourism, reaffirming Pakistan as a priority market and underscoring SLCB’s efforts to support business and incentive travel groups. Mr. Ruwan WijekoonManager Pakistan, SriLankan AirlinesHe reiterated the airline’s commitment to enhancing connectivity and revealed attractive airfares designed specifically for holidaymakers. He expressed strong optimism about the rising interest in leisure, cultural, and corporate travel from Pakistan. Why Pakistan Matters to Sri Lanka Tourism Pakistan is emerging as a rapidly expanding outbound market where travelers are increasingly seeking authentic, meaningful, and value-driven travel experiences. Sri Lanka, with its: • pristine beaches• cultural heritage• wildlife and nature• adventure and wellness• business and MICE facilitiesis ideally positioned to meet this demand. Looking Ahead: A New Chapter in Pakistan–Sri Lanka Tourism Relations The Karachi Roadshow not only strengthened tourism opportunities but also deepened the bond of friendship between the two countries. It created new avenues for collaboration, trade growth, and future tourism development. As Sri Lanka continues to rebuild and expand its global footprint, Pakistan stands firmly among its most promising partners opening doors to shared growth and a new era of tourism excellence.

Islamabad: Oil and Gas Development Company Limited (OGDC), Pakistan’s flagship energy explorer, has announced a groundbreaking hydrocarbon discovery in the Nashpa Block, hailed as the largest oil-producing block in the country. The find, from the exploratory well Bargazai-X01, promises to significantly bolster national reserves and counter the depleting output from the aging Nashpa oil field. Drilled to a target depth of 5.81 meters, the Bargazai-X01 well struck hydrocarbons at 5.17 meters—above expectations—and is undergoing additional testing to confirm further potential. This discovery underscores OGDC’s commitment to unlocking untapped resources amid Pakistan’s growing energy demands. Industry analysts project that full field development in the Bargazai area could arrest the Nashpa field’s decline and elevate OGDC’s overall reserves by a meaningful margin. “This is a game-changer for Pakistan’s upstream sector,” said an OGDC spokesperson. “The Nashpa Block has long been a cornerstone of our production, and this new find positions us to sustain and expand output for decades.” Read More: https://theboardroompk.com/reko-diq-safe-despite-barrick-restructuring-talks-ogdcl-tells-investorsnovember-25-2025/ Financial projections for the discovery paint an optimistic picture, based on current market benchmarks. With crude oil priced at $62 per barrel and natural gas at $5.50 per million British thermal units (MMBTU), the realized crude price stands at $58 per barrel. At an exchange rate of 281 PKR/USD, initial gas production estimates of 2.80 million cubic feet per day (MMCFD) could generate substantial revenues. Under a projected sharing model—65% to OGDC and 30% to Pakistan Petroleum Limited (PPL)—net revenues are forecasted at 7.539 PKR million for OGDC and 2.053 PKR million for PPL in the initial phase. Net income projections follow suit, with OGDC at 3.016 PKR million and PPL at 0.821 PKR million, translating to combined earnings per share (EPS) impacts of 0.70 PKR for OGDC and 0.19 PKR for PPL. The discovery arrives at a pivotal time for Pakistan’s energy landscape, where domestic production struggles to keep pace with consumption. Nashpa, operational since 2010, has been a vital contributor to OGDC’s portfolio, accounting for a significant share of the company’s 40,000+ barrels of oil equivalent per day output. Experts believe this find could enhance energy security, reduce import reliance, and stimulate economic growth through job creation and technology transfer. Shares of OGDC and PPL saw modest gains in early trading on the Pakistan Stock Exchange following the announcement, reflecting investor confidence in the sector’s revival. As testing progresses, further updates on commercial viability and development timelines are anticipated in the coming months. This breakthrough aligns with Pakistan’s broader push for sustainable energy exploration, including incentives under the Pakistan Onshore Petroleum Policy. For OGDC, it reinforces its status as the nation’s leading explorer, with a track record of over 200 discoveries since 1961.

ISLAMABAD: As part of its ongoing Lecture Series on Competition Law, the Competition Commission of Pakistan (CCP) hosted a special session featuring Air Marshal Javaid Ahmed, HI (M) (Retd), President Centre for Aerospace and Security Studies (CASS), and Dr. Usman W. Chohan, Advisor CASS, on the theme “Role of Aviation Industry in Economic Affairs and National Development.” CASS is Pakistan’s premier centre for strategic research on aerospace, emerging technologies, security, and national policy. Welcoming the speakers, CCP Chairman Dr. Kabir Sidhu said that regulatory frameworks across major sectors in Pakistan remain outdated and require urgent modernization to meet the demands of rapidly evolving markets. He highlighted that CCP’s Centre of Excellence is conducting in-depth sectoral studies to identify regulatory gaps, market inefficiencies, and provide evidence-based recommendations for reforms. The Centre has completed studies in over fifteen key sectors, including LNG, Power, sugar, Insurance, Fertilizer, Road Infrastructure, and Gold. Read More: https://theboardroompk.com/pm-promises-live-tv-coverage-for-pia-privatization-bids-on-december-23/ Air Marshal Javaid Ahmed (Retd) delivered a comprehensive lecture on the dynamics of the global and domestic aviation industry. He cautioned that Pakistan’s aviation sector needs urgent modernization to unlock its potential in tourism, cargo movement, technology development, skilled employment, and national security, as highlighted under the Significance of Aviation Industry framework in his presentation. He outlined Pakistan’s aviation challenges, including high operational costs, weak governance structures, security constraints, sectoral inefficiencies, limited private sector participation, and shortage of skilled workforce. Highlighting opportunities, he expressed that Pakistan possesses strong aeronautical capabilities and will “soon be able to manufacture a passenger aircraft,” given its advanced fighter aircraft ecosystem. He also briefed the audience about the National Aerospace Science and Technology Park (NASTP), a multi-site initiative equipped with high-end laboratories in AI, avionics, cyber, robotics, composites, and satellite technologies. NASTP aims to build Pakistan’s first integrated aerospace ecosystem, expand dual-use technologies, and position the country as a regional innovation hub. Dr. Usman W. Chohan presented key economic indicators, noting that aviation contributes $5.6 billion to Pakistan’s GDP (1.7%), supports 684,000 jobs, and generated 22 million passengers in 2023, a figure expected to rise under the National Aviation Policy 2023. He underlined that Pakistan’s flight market revenue is projected to grow from $6.04B in 2025 to $8.17B by 2030, with users rising to 48.5 million. He emphasized aviation’s critical role in trade, connectivity, tourism, and broader economic competitiveness. The session concluded with an engaging question-and-answer discussion, attended by senior officials, researchers of the CCP, and industry stakeholders.