Pakistan Archives - Page 23 of 142

Iran Will Always Remember Pakistan’s Support and Solidarity, Iranian Commercial Attaché Murad Nemati

Web Desk / June 22, 2026

KARACHI: A high-level trade delegation from Iran’s Khorasan Province visited the Korangi Association of Trade and Industry (KATI), where both sides agreed to strengthen industrial, trade, and investment ties, promote business-to-business linkages, and enhance bilateral trade between Pakistan and Iran. Read More: https://theboardroompk.com/pia-handover-to-new-owners-targeted-for-end-of-june-as-formalities-complete/ The meeting was attended by Commercial Attaché of the Consulate of Islamic Republic of Iran Murad Nemati, Executive Director of Dispatching Trade Delegation Mohsen Fallah, members of the trade delegation from Iran’s Khorasan Razavi Province, KATI Vice President Muhammad Talha Ali, former KATI President Junaid Naqi, and other business leaders. Addressing the gathering, KATI President Muhammad Ikram Rajput said that Pakistan and Iran enjoy significant untapped potential for expanding bilateral trade and emphasized the need for practical measures to unlock these opportunities. He called for the facilitation of border trade, strengthening of banking channels, improvement of customs and logistics infrastructure, and greater participation of the private sector to ensure that the benefits of economic cooperation reach the people of both countries. Rajput proposed the activation of joint business councils and industrial forums, the regularization of business-to-business (B2B) meetings, and the promotion of joint investments in key sectors including food processing, pharmaceuticals, textiles, energy, and infrastructure. He also stressed the importance of creating collaborative platforms for young entrepreneurs and startups to foster innovation and cross-border business partnerships. Paying tribute to the Iranian nation, Rajput praised Iran’s diplomatic efforts aimed at reducing global tensions and promoting dialogue and peace. He said the Iranian people had demonstrated unity, resilience, and steadfastness under challenging circumstances, presenting an example of dignity and determination to the world. He also commended the efforts of the Prime Minister of Pakistan, Field Marshal Asim Munir, and other stakeholders for their contributions toward regional peace and stability. Iranian Commercial Attaché Murad Nemati emphasized the need for a new era of economic integration between Pakistan and Iran. He said the two brotherly countries should capitalize on their strategic geographic locations and transform their relationship into a long-term strategic economic partnership through joint ventures and enhanced economic cooperation. Nemati noted that such collaboration would open new avenues for trade, investment, and prosperity not only for Pakistan and Iran but for the wider region. He thanked the Government of Pakistan and the Pakistani people for their support and solidarity with Iran during difficult times, adding that recent developments had further strengthened the deep-rooted brotherly relations and mutual trust between the two neighboring countries. “True friends are recognized in difficult times, and Iran will always remember Pakistan’s support and solidarity,” he remarked. He further stated that greater connectivity and economic integration between the two countries would create new opportunities for trade and investment while contributing significantly to regional peace, security, and sustainable development. Former KATI President Junaid Naqi and Vice President Muhammad Talha Ali also presented various proposals aimed at expanding trade opportunities. Participants held detailed discussions on prospects for cooperation in diverse sectors, including joint investments, logistics, transportation, agricultural products, trade facilitation, and industrial partnerships. The participants described the engagement as an important milestone in advancing Pakistan-Iran economic relations and creating new opportunities for bilateral trade and investment.

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Pakistan Heart Association Demands 40% Tax on Sweetened Beverages, 20% FED on Ultra-Processed Foods

Web Desk / June 21, 2026

Murree: Pakistan is facing a growing epidemic of non-communicable diseases (NCDs), with over 41 percent of adults overweight or obese and more than 35 million people living with diabetes. Experts warn that without urgent action, diabetes cases could rise to 70 million by 2050. To address this public health crisis, the Pakistan National Heart Association (PANAH) organized a post-budget sensitization session with parliamentarians in Murree. The session aimed to highlight the burden of NCDs and seek parliamentary support for evidence-based policies to promote healthier diets and reduce disease risks. The event was attended by MNA Shazia Aslama Soomro, MNA Shahida Rehmani, MNA Ramesh Lal, MNA Nazir Ahmed Bughio, MNA Sadiq Ali MEMON, MNA Haji Rasool Buksh Chandio, MNA Khurshid Ahmed Junejo, MNA Samina Khalid Ghurki, MNA Sofia Saeed, MNA Rana Ansar, MNA Musarrat Rafique, MNA Riaz Fatiana, MNA Dr. Azim ud Din Zahid Lakhvi, MNA Muhammad Saadullah, MNA Awais Jakhar, Ex-MNA Dr. Nisar Cheema, MNA Moazzam Ali KhanMr. and PANAH General Secretary Mr. Sana Ullah Ghumman. Speaking at the session, PANAH highlighted that unhealthy diets, particularly the consumption of ultra-processed products containing excessive amounts of sugar, salt, and unhealthy fats, are among the leading risk factors contributing to obesity, diabetes, cardiovascular diseases, and other NCDs. PANAH emphasized that fiscal measures, including taxation of unhealthy products, are globally recognized and evidence-based interventions that effectively reduce consumption and improve public health outcomes. PANAH welcomed the Government’s decision in the Finance Bill 2026-27 to impose GST on several ultra-processed products, describing it as a positive step toward discouraging unhealthy consumption. However, the organization expressed concern over the taxation of certain healthier food products and urged policymakers to ensure that fiscal policies are imposed on the basis of scientific evidences. PANAH called on parliamentarians to support stronger fiscal measures, including health taxes on all sweetened beverages and other ultra-processed products. Such measures can help reduce disease burden, save healthcare costs, and generate revenue for public health initiatives. The parliamentarians attending the session expressed serious concern over the rapidly increasing prevalence of NCDs in Pakistan and recognized the urgent need for preventive interventions. They appreciated PANAH’s continued efforts to promote public health and pledged their support for evidence-based policies aimed at reducing dietary risks and protecting future generations from preventable diseases. The session concluded with a recommendation letter signed by all MNAs to Finance Minister to increase taxes on sweetened beverages including packaged and fresh fruit juices to 40 % in Finance Bill, and impose 20 % FED on other ultra-processed products to 20% in Finance Bill. They also demand Finance Minister to increase taxes on cigarette pack to Rs. 30 per packet and impose a complete ban on heated tobacco products.

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Pakistan Auto Financing Hits Fresh Record High of Rs 369 Billion in May 2026

Web Desk / June 20, 2026

Pakistan’s auto financing has reached a new all-time high. Outstanding auto loans stood at Rs 369 billion in May 2026. This figure edges past the previous peak of Rs 368 billion recorded in June 2022. It also marks a solid 36 percent year-on-year increase. A 3 percent month-on-month rise adds to the positive momentum. Topline Securities compiled the latest data based on State Bank of Pakistan figures. Key Drivers of the Auto Financing Boom Lower interest rates have made vehicle loans much more attractive. Borrowing costs have dropped, easing the monthly payment burden for buyers. Improved affordability has encouraged more families to consider financing. Many households now feel confident about taking on auto loans. Vehicle availability has also risen in the local market. Manufacturers have stepped up production to match growing demand. Expected Impact on Vehicle Sales The record financing level is expected to lift passenger car sales. Financed purchases are likely to see the biggest gains. Higher-priced vehicle segments should benefit strongly from this trend. Buyers are showing renewed interest in upgraded models. Sustained growth in auto financing will support the entire auto industry. Assemblers, dealers, and banks stand to gain from higher volumes. Consumer confidence appears to be returning after tough years. This development signals improving economic sentiment across the country. Banks are extending more credit as repayment capacity strengthens. The sector is now positioned for steady expansion in the months ahead. Overall, the latest numbers reflect a clear turnaround in consumer demand. They point to better days for Pakistan’s auto market.

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Govt Slashes Petrol Price by Rs74, Diesel by Rs67 Per Litre

Web Desk / June 19, 2026

The government announced a major petrol price reduction on Friday, cutting the price of petrol by Rs74 per litre and high speed diesel (HSD) by Rs67 per litre, the Prime Minister’s Office (PMO) said. The move, effective immediately, brings significant relief to consumers and businesses reeling from months of elevated fuel costs. With the revised rates in effect, ex-depot petrol (Motor Spirit) now costs Rs299.78 per litre, while HSD stands at Rs311.78 per litre. Rs129 Billion Used to Shield Public from Fuel Burden Prime Minister Shehbaz Sharif said the government moved swiftly to pass on the benefits of improving regional economic conditions and declining global oil prices to the public. “We are immediately passing on the benefits of improving economic conditions in the region and declining oil prices to the public,” the PMO statement quoted him as saying. The premier revealed that the government deployed Rs129 billion — drawn from savings generated through cuts to the development budget and broader austerity measures — to absorb the impact of high fuel prices and prevent the full burden from falling on ordinary citizens. “Through savings generated from the development budget and austerity measures, the federal government utilised Rs129 billion to provide relief and shield people across the country from the full impact of soaring fuel prices,” PM Shehbaz said. The scale of the subsidy underscores the fiscal commitment made by the federal government to cushion consumers at a time when global energy markets remained volatile. Stable Supply, No Disruptions Reported PM Shehbaz also pushed back against any perception of supply-side stress, asserting that the country’s petroleum distribution network had functioned without interruption throughout the period of elevated prices. There were no shortages, no long queues, and no disruptions in the supply of petroleum products to the public, he maintained — a signal that the relief measure was rolled out from a position of logistical stability rather than crisis management. The government’s ability to sustain uninterrupted fuel supply while simultaneously managing fiscal headroom for price intervention is likely to be highlighted as a key policy achievement in the months ahead. What This Means for Consumers and Businesses The petrol price reduction carries wide-ranging implications across the economy. For daily commuters and motorcycle users — who form the bulk of petrol consumers in Pakistan — the Rs74 per litre cut translates into a meaningful drop in day-to-day transport costs. The Rs67 per litre reduction in HSD is equally significant. Diesel powers the country’s freight and logistics network, agricultural machinery, and a large share of industrial generators. Lower diesel prices feed directly into the cost structures of farmers, truckers, and manufacturers, with downstream effects on food prices and consumer goods. Together, the two cuts represent one of the largest single-round fuel price reductions in recent memory, and are expected to provide a visible jolt to household purchasing power in the near term. Government Eyes Further Inflation Relief PM Shehbaz said the petrol price reduction was not a one-off measure but part of a broader policy commitment to bring inflation down and stabilise the economy. He said the government would continue taking effective measures to maintain economic stability and further reduce inflation — remarks that suggest additional relief steps could follow if global oil prices continue to ease and fiscal space permits. Pakistan’s inflation trajectory has shown signs of improvement in recent months, with the headline rate moderating from its historic peaks. A sustained decline in fuel prices, if maintained across future fortnightly reviews, could accelerate the disinflationary trend and ease pressure on the central bank.The State Bank of Pakistan has already cut its benchmark policy rate significantly over the past year as inflation cooled. Cheaper fuel adds another tailwind to that momentum.

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Pakistan SPI Inflation Rises 0.46% for Week Ended June 18 as Tomatoes, Chicken Drive Prices Up

Web Desk / June 19, 2026

Pakistan SPI inflation edged up 0.46% for the week ended June 18, 2026, driven primarily by sharp increases in perishable food items, according to data released by the Pakistan Bureau of Statistics (PBS). The Sensitive Price Index tracks weekly price movements of 51 essential commodities across 50 markets in 17 cities, serving as a near real-time barometer of short-term inflation trends. Tomatoes and Potatoes Lead Weekly Price Surge Perishable vegetables topped the list of weekly price movers. Tomatoes recorded the sharpest increase at 16.65%, followed by potatoes at 6.82%. Chicken prices rose 5.60%, adding pressure on household food budgets. Other items that recorded increases included washing soap (1.16%), gur (0.65%), mutton and LPG (0.51% each), shirting (0.48%), long cloth (0.43%), eggs (0.35%), fresh milk (0.29%), and curd (0.26%). Onions, Garlic, and Fuel Offer Some Relief Not all prices moved upward. Onions fell 2.98% on a weekly basis, while garlic dropped 2.51%. Bananas declined 1.28%. On the energy side, petrol prices fell 1.06% and diesel dropped 0.51%, offering modest relief to consumers and transporters alike. Other weekly decreases were recorded in pulse mash (1.04%), salt powder (0.95%), pulse moong (0.61%), wheat flour (0.53%), and pulse gram (0.04%). Breakdown of Price Movements Out of 51 tracked items, prices of 25 items (49.02%) increased during the week, while 11 items (21.57%) declined and 15 items (29.41%) remained stable. The data showed that price pressures remained broadly concentrated in the food segment, particularly in vegetables and proteins. Annual SPI Jumps 15.28% On a year-on-year basis, Pakistan SPI inflation stood at 15.28%, reflecting sustained upward pressure on essential commodity prices over the past 12 months. The annual breakdown painted a sharper picture of structural price stress. Onion prices surged 79.76% compared to the same period last year, while tomatoes jumped 68.59%. Electricity charges for Q1 rose 59.40%, wheat flour climbed 58.72%, and LPG increased 52.66%. Petrol and diesel posted annual increases of 44.73% and 44.39% respectively. Mutton rose 16.30%, chilli powder 15.20%, beef 12.86%, garlic 10.74%, and bread 8.67%. Some Annual Declines Provide Cushion A handful of commodities recorded significant year-on-year price declines, offering some relief to consumers. Potato prices fell 41.09% on an annual basis, eggs dropped 26.98%, pulse gram declined 22.32%, and sugar fell 17.51%. Salt powder was down 14.09%, pulse masoor dropped 12.25%, pulse moong fell 5.48%, and chicken declined 4.24%. Urea and Cement Prices Show Mixed Trends Beyond food and energy, the PBS data also tracked input costs in agriculture and construction. The average price of Sona Urea stood at Rs4,662 per 50-kg bag — up 0.25% from the previous week and 4.75% higher than a year ago, adding to the cost burden on farmers ahead of the upcoming crop cycle. Cement averaged Rs1,503 per 50-kg bag, down 0.50% from the prior week but still 6.19% above last year’s level, reflecting lingering cost pressures in the construction sector. What the Data Signals The weekly SPI reading confirms that food price volatility — particularly in vegetables and proteins — remains the primary driver of Pakistan SPI inflation in the near term. While fuel price declines and lower pulse prices provide partial offsets, the double-digit year-on-year increase of 15.28% underscores the scale of the inflation challenge facing Pakistani households. Policymakers will be watching whether perishable-led weekly spikes translate into sustained price trends in the weeks ahead.

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Pakistan, Germany Agree to Expand Agriculture Cooperation in High-Level Meeting

Web Desk / June 19, 2026

Pakistan and Germany moved to strengthen Pakistan Germany agriculture cooperation on Thursday, as Federal Minister for National Food Security and Research Rana Tanveer Hussain met German Ambassador to Pakistan Ina Lepel in a high-level bilateral meeting. The two sides agreed to explore deeper collaboration in agriculture, livestock development, food security, research, and technology transfer. Low Yields, High Stakes Minister Hussain highlighted the central role of agriculture in Pakistan’s economy, noting that the sector contributes nearly 25% to the country’s GDP. Despite its scale, low crop yields remain a persistent challenge. The minister said the government has focused on agricultural research, certified seeds, mechanisation, and climate-resilient crop varieties to lift productivity. He stressed that Pakistan needed to modernise farming practices to remain competitive and to safeguard long-term food security. Livestock Sector Takes Centre Stage A significant portion of the discussion was devoted to Pakistan’s livestock sector, which accounts for around 60% of total agricultural output. Hussain proposed bilateral cooperation in livestock genetics, breed improvement, advanced reproductive technologies, animal feed development, and Foot and Mouth Disease vaccine production. He also invited German companies and institutions to collaborate in dairy modernisation, agricultural mechanisation, food processing, and the establishment of modern slaughterhouses. Biotechnology Policy Opens New Doors The minister informed the German delegation that Pakistan is introducing its first-ever Biotechnology Policy, designed to open new avenues for research, innovation, and foreign investment. He also raised the need for collaboration on traceability systems, food safety standards, and Sanitary and Phytosanitary (SPS) compliance — steps that would help Pakistan broaden its international market access. Germany Signals Commitment and Investment Interest Ambassador Lepel welcomed Pakistan’s efforts to modernise its agriculture sector and reaffirmed Germany’s commitment to expanding Pakistan Germany agriculture cooperation in the areas of climate resilience, livestock development, and research. She acknowledged Pakistan’s Biotechnology Policy initiative and noted that several German firms are already exploring active investment opportunities in the country. PARC Stresses Research and Capacity Building Chairman of the Pakistan Agricultural Research Council (PARC) and Animal Husbandry Commissioner Dr Syed Murtaza Hassan Andrabi underlined the value of joint research and capacity building. He said Pakistan stood to gain from German expertise, particularly through the import of high-quality embryos and semen for breed improvement — a step that could deliver significant livestock productivity gains over time. A Shared Commitment to Sustainable Growth Both sides concluded the meeting with a shared commitment to strengthen bilateral ties aimed at sustainable agricultural growth and enhanced food security. The meeting marked a concrete step toward formalising cooperation between the two countries on one of Pakistan’s most critical economic sectors. With German investment interest growing and Pakistan rolling out new policy frameworks, the groundwork for a deeper partnership appears firmly in place.

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SECP Moves to Strengthen Arbitration and ADR System to Resolve Business Disputes

Web Desk / June 19, 2026

The Securities and Exchange Commission of Pakistan (SECP) has taken steps to strengthen alternative dispute resolution (ADR) mechanisms and arbitration systems to improve the settlement of commercial disputes and reduce pressure on the country’s courts. The move aims to create a more efficient and transparent business environment while lowering litigation costs and speeding up the resolution of financial and corporate cases. Key stakeholders discuss legal reforms An important meeting held under the SECP brought together judges, representatives from the Ministry of Law, members of the legal fraternity, and stakeholders from the corporate sector. Participants discussed reforms aimed at improving the country’s regulatory framework and enhancing mechanisms for resolving commercial disputes outside the traditional court system. The discussions focused on creating a faster and more effective process for handling business conflicts, which often take years to conclude through litigation. SECP chairman calls for transparent regulatory framework SECP Chairman Dr. Kabir Ahmed Sidhu stressed the need for a stronger and more transparent regulatory system to reduce the occurrence of business disputes. He said that a large number of cases remain pending in courts across Pakistan, including several involving the SECP itself. According to Dr. Sidhu, excessive litigation creates delays and increases costs for businesses. He emphasized that arbitration and mediation could offer quicker and more cost-effective solutions. He noted that alternative dispute resolution mechanisms could help ease the burden on the judiciary and accelerate recoveries for businesses and investors. Lessons from international practices Dr. Sidhu highlighted successful international models and referred to the experience of the United Kingdom, where mandatory pre-litigation mediation has delivered positive results. He said Pakistan also plans to introduce a similar system to encourage parties to resolve disputes before taking cases to court. Such measures, he added, could help reduce the backlog of cases and improve the overall efficiency of the country’s legal and commercial framework. Investor confidence expected to improve The SECP chairman stated that stronger ADR mechanisms, supported by the judiciary, could bring meaningful changes to Pakistan’s legal and business landscape. He said faster and more predictable dispute resolution would enhance investor confidence and contribute to a more business-friendly environment. Efficient mechanisms for resolving commercial disagreements are considered an important factor for attracting both domestic and foreign investment. Special Dispute Resolution Centre planned The SECP also announced plans to establish a Special Dispute Resolution Centre dedicated to Pakistan’s financial sector. The proposed centre will be developed in collaboration with the US Commercial Law Development Program (CLDP). The initiative is expected to provide specialized support for resolving disputes involving financial institutions and market participants. Officials believe the centre will strengthen the country’s financial infrastructure and support broader efforts to modernize the legal framework governing corporate and financial matters. Efforts aimed at reducing court burden With thousands of cases pending across courts, authorities view arbitration and mediation as practical tools to address delays and improve access to justice for businesses. By promoting alternative dispute resolution, the SECP hopes to create a more efficient system that delivers faster outcomes, lowers costs, and supports sustainable economic growth. The latest initiative reflects growing efforts to modernize Pakistan’s commercial dispute resolution framework and align it with international standards, making the country more attractive to investors and strengthening confidence in its financial sector.

Pakistan

BankIslami Strengthens Financial Footprint in Pakistan; Launches BIPL Exchange – A Wholly Owned Currency Exchange Subsidiary

Web Desk / June 19, 2026

BankIslami Strengthens Financial Footprint in Pakistan; Launches BIPL Exchange – A Wholly Owned Currency Exchange Subsidiary KARACHI – June 18, 2026: BankIslami, one of Pakistan’s fastest-growing Islamic banks, has launched BIPL Exchange Company Private Limited, its wholly-owned currency exchange subsidiary. This launch marks a significant step forward in the Bank’s strategic expansion plans, further strengthening the Riba-free financial ecosystem for its customers across Pakistan. BIPL Exchange, an independent subsidiary of BankIslami, commenced operations with the inauguration of its first branch by Jahangir Siddiqui, Founder of JS Group. The ceremony was attended by leadership from BankIslami and JS Group, including Group President Suleman Lalani, CEO of JSCL Asad Nasir, Dy Chief Executive Officer of BankIslami Imran H Shaikh, CEO of BIPL Exchange Muhammad Yaqoob Sheikhji, alongside other senior management members.“The launch of BIPL Exchange is a strategic step in extending our suite of financial services and advancing our commitment to a Riba-free financial system. This new venture will enable us to better serve the evolving needs of customers while contributing to the development of Pakistan’s Islamic financial landscape,” said Rizwan Ata, President & CEO of BankIslami. Muhammad Yaqoob Sheikhji, CEO of BIPL Exchange commented at the launch, “Today marks the beginning of our mission to provide transparent, Shariah-compliant currency exchange services to customers across Pakistan. We are grateful to our partners and sponsors for their confidence and trust. This launch reinforces our commitment to delivering reliable financial solutions grounded in Shariah compliance, integrity, and service excellence.’’ The launch of BIPL Exchange Company is aimed at facilitating legitimate foreign currency transactions and essential exchange services under a transparent and Shariah-compliant framework. With this inauguration, BankIslami reinforces its commitment to advancing the Riba-free financial ecosystem and serving the evolving needs of its customers across the country

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Select Technologies IPO Registration Opens; Book Building Scheduled For June 22-23

Web Desk / June 18, 2026

Karachi, June 18: Registration of eligible investors for the Initial Public Offering (IPO) of Select Technologies Limited commenced on 17th June and will continue until 3pm June 23, 2026, ahead of the company’s book building process scheduled for June 22 and June 23, 2026. Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, is engaged in the manufacturing and assembly of smartphones, smart TVs, air conditioners and other consumer appliances in Pakistan for globally recognized brands including Xiaomi and Hisense. According to the company’s prospectus, the IPO comprises 88.889 million ordinary shares, representing 10 percent of the company’s post-IPO paid-up capital. The floor price has been set at PKR 28 per share, with a maximum price band of up to 50 percent, or PKR 42 per share. At the floor price, the issue size stands at PKR 2.489 billion, while at the upper price band, the company may raise up to approximately PKR 3.7 billion. Out of the total issue size, 75 percent will be offered through the book building process, while the remaining 25 percent will be offered to retail investors through the general public portion. The proceeds will primarily be used to support SELECT’s business expansion and diversification plans, including investment in plant and machinery for air-conditioner assembly, smartphone plant upgrades, TV assembly line expansion and working capital requirements. Commenting on the transaction, Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, said the offering represents another important addition to Pakistan’s capital market. “Select Technologies provides investors exposure to Pakistan’s growing smart devices and consumer appliances manufacturing space, supported by strong sponsor backing, global brand partnerships and planned expansion into higher-margin product categories. We believe this IPO reflects the increasing role of the capital market in supporting industrial growth, import substitution and technology localization in Pakistan,” he said. SELECT holds a 15.5 percent share in the smartphone assembling sector and 7.7 percent share of total mobile devices manufactured in FY2025. The company is now expanding into smart TVs and air conditioners through its new production facility at Sundar Green Special Economic Zone, Lahore. Post expansion, SELECT’s combined annual production capacity is expected to reach 7 million smartphones, 360,000 televisions and 400,000 air-conditioner units. The IPO is being managed by Arif Habib Limited and Intermarket Securities Limited as joint consultants to the issue.

Pakistan

Al-Ghazi Tractors Limited Joins the Pakistan Agricultural Coalition to Strengthen Support for the Country’s Agriculture Sector

Press Release / June 18, 2026

One of Pakistan’s leading tractor manufacturers comes on board as a patron of PAC, reinforcing its commitment to a modern, productive and globally competitive farm economy. Lahore, 18 June 2026 — Al-Ghazi Tractors Limited (AGTL), one of Pakistan’s leading manufacturers of agricultural machinery, has joined the Pakistan Agricultural Coalition (PAC) as a patron. The partnership was formalized through a Memorandum of Understanding, bringing Al-Ghazi into a coalition of the country’s foremost business and financial groups that is working to make Pakistan’s agriculture sector private sector-led, technology-driven, entrepreneurial and globally competitive. The partnership reflects Al-Ghazi’s intent to play an active part in the national agenda for agricultural growth, working alongside government, industry and the wider development community. By joining hands with PAC, Al-Ghazi lends its decades of on-ground experience and its standing within the farming community to a shared effort to build a stronger, more competitive and self-reliant agriculture sector for Pakistan. Agriculture remains the backbone of Pakistan’s economy and a primary source of livelihood for millions across the country. Through associations such as this, Al-Ghazi seeks to support efforts that improve productivity, advance mechanization and enhance the prosperity of Pakistan’s farmers, in line with the country’s broader goals for food security and rural development. “For more than four decades, Al-Ghazi Tractors has stood alongside Pakistan’s farmers. Joining the Pakistan Agricultural Coalition allows us to bring that experience to a wider national effort. We believe the future of our agriculture lies in modernization, technology and stronger collaboration between the private sector and government, and we are proud to support an institution working toward exactly that,” said Mr. Yasin Seker, Chief Executive Officer, Al-Ghazi Tractors Limited. “We are pleased to welcome Al-Ghazi Tractors to the coalition. The presence of a leading manufacturer with deep roots in the farming community strengthens our collective ability to design and scale commercially viable solutions for the sector. This is the kind of private-sector commitment that drives lasting change in Pakistan’s agriculture,” said Mr. Kazim Saeed, Chief Executive Officer, Pakistan Agricultural Coalition.

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