Pakistan

Murad Ali Shah Reviews University Road Work as Karachi BRT Red Line Faces Delay Concerns
Pakistan

Murad Ali Shah Reviews University Road Work as Karachi BRT Red Line Faces Delay Concerns

Sindh Chief Minister Murad Ali Shah conducted an early morning visit to University Road in Karachi on Thursday to inspect ongoing development work, including progress on the much-delayed Karachi Bus Rapid Transit (BRT) project. The visit, which also included the Mayor of Karachi, aimed to assess construction quality and ensure timely completion of key infrastructure schemes across the city. Inspection of Development Work on University Road During the visit, officials from the Frontier Works Organisation (FWO) briefed the chief minister on the pace of construction and current progress. Murad Ali Shah expressed satisfaction with the overall development but stressed the importance of maintaining high-quality standards. He reiterated that improving Karachi’s major road networks remains a top priority for the provincial government. According to him, ongoing efforts are focused on upgrading the city’s infrastructure to meet modern urban requirements. Timely Completion and Quality Assurance The chief minister directed relevant departments to accelerate work on all ongoing development projects and avoid unnecessary delays. He emphasized that public convenience must remain central to all infrastructure planning and execution. Senior officials, including Karachi Commissioner Syed Hassan Naqvi and the Managing Director of the Water Board, also accompanied him during the inspection. BRT Red Line Project Under Scrutiny The Karachi BRT Red Line project, a major public transport initiative, continues to face delays and operational challenges. Earlier, Provincial Minister Sharjeel Memon acknowledged that the project could take a year or more to complete. He noted that while efforts are underway to clear and restore sections of University Road, several technical and logistical issues have slowed progress. Authorities have been directed to complete side roads before Eid to ease traffic pressure in the area. Government Commits to Completing Project Despite Delays Despite setbacks, Sindh government officials have reaffirmed their commitment to completing the Karachi BRT Red Line project. Sharjeel Memon stated that although discussions had previously considered halting the project, the government decided to move forward due to its long-term importance for Karachi’s public transport system. He added that large-scale development work is currently underway across the city, with a focus on addressing long-standing infrastructure challenges. Karachi’s Infrastructure Karachi continues to face significant urban infrastructure issues, including traffic congestion, road damage, and delays in public transport projects. The Karachi BRT Red Line project is seen as a key solution aimed at improving mobility for millions of daily commuters. However, repeated delays have raised public concern about execution timelines and project management efficiency. Push for Urban Improvement Continues The latest inspection reflects ongoing efforts by the provincial government to accelerate development and improve urban infrastructure. Officials say the focus remains on completing critical projects that can ease transportation challenges and support Karachi’s growing population.

SSGC Profit Drop 2026 Shocks Market as Earnings Crash Nearly 80 Percent
Pakistan

SSGC Profit Drop 2026 Shocks Market as Earnings Crash Nearly 80 Percent

The SSGC profit drop 2026 has stunned investors and raised serious questions about the financial stability of Pakistan’s gas distribution sector. Sui Southern Gas Company Limited, listed on the Pakistan Stock Exchange, has reported a dramatic 79.63 percent plunge in profits for the nine months ending March 31, 2026. The company’s profit shrank to just Rs1.53 billion, compared to Rs7.49 billion in the same period last year. This steep decline reflects a combination of falling revenue, rising financial costs, and mounting operational pressures that are reshaping the outlook for the energy giant. Earnings Collapse Highlights Depth of SSGC Profit Drop 2026 The scale of the SSGC profit drop 2026 becomes even clearer when looking at earnings per share. EPS fell sharply to Rs1.73 from Rs8.50, wiping out a significant portion of shareholder value. This is not just a routine dip. It signals a deeper structural issue in profitability, where core operations are no longer generating sustainable returns. Revenue Decline and Weak Gas Sales Add Pressure At the heart of the SSGC profit drop 2026 lies a sharp contraction in revenue. Net revenue fell by over 18 percent to Rs289.66 billion, driven almost entirely by a similar drop in gas sales. In simple terms, the company sold less gas and earned significantly less from its core business. While costs also declined, they did not fall fast enough to protect margins. This imbalance crushed gross profit, which dropped by nearly 72 percent. The company’s earnings foundation has clearly weakened. Rising Costs and Credit Losses Deepen the Crisis While revenue was shrinking, expenses moved in the opposite direction. Administrative and selling costs increased, adding further pressure. More alarming, however, was the surge in expected credit losses. These losses more than doubled, jumping from Rs3.11 billion to Rs7.99 billion. This reflects growing concerns over receivables and payment recoveries. As a result, total operating expenses rose by nearly 49 percent, pushing the company into a massive operating loss before accounting for other income. Other Income Saves the Day but Raises Questions One of the most striking aspects of the SSGC profit drop 2026 is that the company’s profitability was largely rescued by non-core income. Other income surged by over 51 percent to Rs27.36 billion. Without this boost, SSGC would have reported a far deeper loss. This raises a critical concern for investors. Reliance on non-operational income is not sustainable and signals underlying weakness in the core business model. Finance Costs and Taxes Further Erode Profitability The financial burden on SSGC intensified as finance costs jumped by more than 37 percent. Rising borrowing costs are becoming a major drag on profitability. At the same time, taxation nearly tripled, further squeezing already thin margins. Even before taxes, profit had already dropped significantly, highlighting the compounding impact of financial and regulatory pressures. SSGC Profit Drop 2026: What the Numbers Really Say To better understand the situation, here is a simplified breakdown: • Revenue declined by 18 percent due to lower gas sales• Gross profit plunged by 72 percent due to weak margins• Operating expenses surged nearly 49 percent• Credit losses more than doubled, indicating recovery issues• Finance costs rose sharply, increasing debt pressure• Final profit dropped nearly 80 percent These figures collectively paint a picture of a company under severe financial stress. Market Reaction and Broader Implications The SSGC profit drop 2026 comes at a time when Pakistan’s broader stock market is already under pressure. Benchmark indices like the KSE-100 have recently recorded steep declines, reflecting investor uncertainty. For the energy sector, this performance raises serious concerns about sustainability, pricing mechanisms, and operational efficiency. What Lies Ahead for SSGC The road ahead for SSGC will depend on its ability to stabilize revenues, control losses, and reduce reliance on non-core income streams. Key areas to watch include: • Improvement in gas sales volumes• Better recovery of receivables• Reduction in finance costs• Policy support from the government Without structural reforms, the SSGC profit drop 2026 may not be a one-off event but a sign of deeper challenges ahead.

Pakistan Tax System Cyber Breach: Rs. 74.8 Million Fraud Shocks FBR
Pakistan

Pakistan Tax System Cyber Breach: Rs. 74.8 Million Fraud Shocks FBR

The Pakistan Tax System Cyber Breach has sent shockwaves across the country’s financial and regulatory circles, exposing alarming vulnerabilities in the digital backbone of the tax infrastructure. In a startling revelation, the Federal Tax Ombudsman has uncovered a sophisticated cyber intrusion that resulted in fraudulent adjustments of input tax credit worth Rs. 74.8 million. This is not just another financial irregularity. It is a high-stakes digital manipulation that raises serious concerns about the security of Pakistan’s tax ecosystem. How the Pakistan Tax System Cyber Breach Happened According to official findings, unidentified cybercriminals managed to gain unauthorized access to a taxpayer’s IRIS profile by exploiting login credentials. The attackers revised the sales tax return for October 2025, inserting fake supplies worth Rs. 415.6 million. This manipulation effectively erased the taxpayer’s legitimate carry-forward input tax credit, turning a legitimate financial position into a fabricated liability. The IRIS system, managed under the Federal Board of Revenue, is a critical digital platform for tax filings. The breach highlights how even central systems can be exploited if safeguards are weak or compromised. Organized Network Behind the Fraud Pakistan Tax System Cyber Breach Spreads Across Cities Investigations revealed that this was not an isolated incident. Instead, it appears to be part of a well-organized fraud network operating across multiple cities including Karachi, Lahore, Multan, Quetta, and Islamabad. Authorities found that cybercriminals specifically targeted: • Dormant taxpayer accounts• Blacklisted entities• Accounts with large accumulated tax credits These accounts were then used to inject fake transactions, creating a web of fraudulent supply chains that benefited multiple parties. There are also troubling indications that individuals linked to the Pakistan Revenue Automation Limited and possibly internal systems may have facilitated or overlooked suspicious activities. Victim Fights Back: Ombudsman Steps In The affected taxpayer filed a formal complaint with the Federal Tax Ombudsman, demanding: • Removal of fake invoices• Restoration of legitimate tax credit• Legal action against perpetrators The Ombudsman termed the incident as clear maladministration and ordered a full-scale investigation by the Directorate General of Intelligence and Investigation (Inland Revenue). Authorities are now leveraging digital forensic tools such as IP tracking to identify those involved, both within and outside official institutions. What Authorities Are Doing Now Pakistan Tax System Cyber Breach Triggers Nationwide Probe In response to the Pakistan Tax System Cyber Breach, tax authorities across the country have been placed on high alert. Regional offices have been directed to collaborate in tracing the fraudulent supply chains and ensuring coordinated enforcement. The Federal Board of Revenue has also been instructed to submit a compliance report within 60 days. This report will detail: • Progress of the investigation• Identified suspects and legal actions• Preventive measures for future System Overhaul: Can Pakistan Prevent the Next Breach The breach has exposed critical weaknesses in the IRIS system, prompting urgent reforms. The IRS Business Process Reengineering team is now working on major upgrades, including: • Stronger controls on login credential changes• Biometric verification for sensitive actions• Enhanced supervisory monitoring These measures aim to rebuild trust in the digital tax system and prevent similar incidents. Why This Pakistan Tax System Cyber Breach Matters This incident is more than a financial scam. It is a wake-up call for Pakistan’s digital governance. The ability of cybercriminals to manipulate official tax records raises fundamental questions about data security, internal accountability, and institutional oversight. If left unaddressed, such vulnerabilities could undermine investor confidence, disrupt revenue collection, and damage the credibility of the entire tax framework. The Pakistan Tax System Cyber Breach underscores the urgent need for robust cybersecurity measures in government systems. As investigations unfold, the focus must remain not only on punishing the culprits but also on strengthening the system against future attacks. The coming weeks will be critical in determining whether Pakistan can turn this crisis into an opportunity for reform or risk facing even larger digital threats ahead.

Pakistan’s Peacemaker Role in US-Iran Conflict Sparks Economic Opportunities, PIDE
Pakistan

Pakistan’s Peacemaker Role in US-Iran Conflict Sparks Economic Opportunities, PIDE

The Pakistan Institute of Development Economics hosted a seminar titled “Economics of War & Interdependencies: Iran, Pakistan, & The Middle East” at its Islamabad campus, bringing together experts to discuss shifting geopolitical dynamics, Pakistan’s peacemaker role, and the link between security, economics, and diplomacy. The session featured Syed Hassan Akbar and Sarah Zaman, and was moderated by Fasi Zaka, focusing on Pakistan’s evolving role in global affairs. Syed Hassan Akbar highlighted how the traditional divide between security and economic policy has blurred, with geoeconomics now central to global strategy. He pointed to examples like US-China competition and tech disputes to illustrate this shift, noting its reflection in Pakistan’s 2022 National Security Policy. He also discussed the global transition from a unipolar to a multipolar world, warning of prolonged instability but emphasizing opportunities for Pakistan to maintain strategic balance through “no camp politics,” preserving ties with both China and the United States. In the second half, Sarah Zaman explored the growing influence of media and technology in shaping narratives during conflicts such as Iran and Gaza. She emphasized how social media has transformed information flows, enabling real-time tracking of military developments while also complicating verification and credibility. The ongoing internet restrictions in Iran were cited as an example of how seriously governments now treat digital information spaces. A key theme of the seminar was Pakistan’s diplomatic repositioning—from a country affected by prolonged conflict to an emerging mediator in the US-Iran dynamic. However, both speakers stressed that diplomacy alone is insufficient without structural economic reform. Zaman noted that Pakistan’s reliance on transit-route diplomacy must evolve into productive economic capacity through investment in industry, workforce development, and population management, cautioning that goodwill alone cannot sustain long-term gains. The discussion concluded with insights into potential economic benefits of Pakistan’s mediation role, including diversified energy imports, increased interest in critical minerals, support from global financial institutions, and expanded regional connectivity. Opportunities such as transit revenues, energy corridors, and projects like CPEC were highlighted, alongside challenges posed by regional instability and sanctions. On regional security, both speakers acknowledged that normalization with India remains unlikely in the near term, with immediate focus on conflict prevention. Domestic challenges—including terrorism, regional instability, and political divisions—were also discussed as key policy priorities. The seminar reaffirmed PIDE’s commitment to fostering informed dialogue on Pakistan’s economic and geopolitical trajectory.

PIA’s Acquirers form a Special Purpose Vehicle, namely PIA Equity Limited (PIAEL)
Pakistan

PIA’s Acquirers form a Special Purpose Vehicle, namely PIA Equity Limited (PIAEL)

April 29, 2026: On behalf of the Arif Habib Consortium, Arif Habib Corporation Limited (AHCL)is pleased to announce that a Special Purpose Vehicle, namely PIA Equity Limited (PIAEL), has added Fauji Fertilizer Company Limited (FFCL) as one of its shareholders. PIA Equity Limited shall own 100 percent of Pakistan International Airlines. PIA Equity Limited’s shareholding now comprises Arif Habib Corporation Limited, Fatima Fertilizer Company Limited, Lake City Holdings, AKD Group, The City School Group, and Fauji Fertilizer Company Limited. PIAEL will serve as the central platform for the acquisition and future stewardship of PIACL, bringing together a group of institutional investors under a unified structure. The consortium continues to work closely with the Privatisation Commission to advance the transaction towards successful completion.

FMCG Industry Urges Expansion of Third Schedule GST to Improve Price Transparency
Pakistan

FMCG Industry Urges Expansion of Third Schedule GST to Improve Price Transparency

Pakistan’s fast-moving consumer goods (FMCG) sector has called on the government to expand the scope of the Third Schedule GST, arguing that the move can significantly improve price transparency, reduce tax evasion, and simplify the country’s complex taxation system without introducing any new taxes. Tax Collection Method Proposal The proposal centers on bringing more essential consumer goods under the Third Schedule GST framework. These products include cooking oil, milk, dairy items, infant formula, flour, noodles, frozen foods, and condiments. While the tax rate will remain unchanged at 18 percent, the key difference lies in how the tax is collected. Under the Third Schedule, the full tax is collected upfront at the manufacturing stage rather than across multiple stages of the supply chain. Industry stakeholders stress that this is not an additional burden on consumers or businesses but a structural reform aimed at improving efficiency and compliance. Current System At present, the standard GST system involves multiple layers of taxation, from manufacturers to distributors and retailers. This multi-stage structure increases administrative complexity and creates opportunities for underreporting and tax leakages. The Federal Board of Revenue faces challenges in monitoring compliance across such a fragmented system. Industry representatives argue that practices like transfer pricing and undocumented discounts often distort the actual tax base, leading to revenue losses for the government. In contrast, the Third Schedule GST ensures that the entire tax liability is settled at the first point of supply. This simplifies enforcement and reduces the need for extensive monitoring at later stages of distribution. Existing Coverage and Proven Benefits Currently, more than Rs2.5 trillion worth of FMCG products already fall under the Third Schedule. These include beverages, tea, soaps, and personal care items. One of the most significant features of this system is the mandatory printing of retail prices on product packaging. This requirement creates a clear reference point for both regulators and consumers. It limits price manipulation and helps ensure that consumers pay the correct amount for goods. Industry leaders believe that extending the Third Schedule GST to additional essential items will replicate these benefits across a wider segment of the market. Undocumented Retail Sector The push for reform comes at a time when the government is struggling to document the retail sector. Despite imposing additional taxes, compliance remains low. Unregistered retailers currently face a 4 percent further tax, while non-filers are subject to a 2.5 percent advance income tax. However, industry estimates suggest that more than 80 percent of retailers in Pakistan remain undocumented. This highlights the limited effectiveness of current measures aimed at broadening the tax net. Additional Taxes Create Business Challenges FMCG companies argue that these additional taxes have produced unintended consequences. Instead of improving compliance, they have increased the financial burden on businesses. Manufacturers often absorb part of the extra taxes to maintain retailer margins and ensure product availability. This reduces profitability and limits the ability of companies to adjust prices in response to market conditions. Stakeholders believe that expanding the Third Schedule GST would eliminate the need for such additional taxes. By collecting the full tax at the manufacturing stage, the system would become more predictable and easier to manage. Consumer Protection Another major advantage of the proposed reform is improved consumer protection. Under the current system, companies provide price lists to retailers, but these are often not displayed or followed. As a result, consumers frequently face overcharging and inconsistent pricing. Authorities have issued notices in several cases where retailers charged higher prices than those recommended by manufacturers. This lack of uniformity undermines consumer trust and creates instability in the market. By mandating printed retail prices on packaging, the Third Schedule GST can address these issues effectively. Consumers would have clear visibility of prices, reducing the risk of exploitation at the retail level. Transparent and Efficient Taxation Industry stakeholders maintain that expanding the Third Schedule GST offers a practical solution to multiple challenges facing Pakistan’s taxation system. It simplifies compliance, reduces evasion, enhances transparency, and protects consumers without increasing the overall tax burden.

Reko Diq Mining Project Sees Renewed Global Interest as Barrick Slows Development
Editor pick, Pakistan

Reko Diq Mining Project Sees Renewed Global Interest as Barrick Slows Development

The Reko Diq mining project has once again moved into the global spotlight as the European Investment Bank (EIB) expressed strong interest in investing in Pakistan’s multibillion-dollar copper and gold venture. However, this renewed attention comes with clear conditions, including access to critical mineral supplies, while Pakistani officials push back against exaggerated claims about the country’s mineral wealth. EIB Signals Investment Interest in Reko Diq During the EU-Pakistan Business Forum, EIB representative Marco Arena highlighted the bank’s willingness to finance infrastructure linked to the Reko Diq mining project. He stressed that Europe seeks reliable access to critical minerals to support its green and digital transition. Arena clarified that the European Union does not expect exclusive rights over resources. However, he emphasized that a stable supply connection with European markets remains essential. According to him, such partnerships would strengthen Europe’s competitiveness in emerging technologies. The EIB has already re-engaged with Pakistan after a long pause. Recently, it finalized agreements worth €160 million to support water and housing sectors. This renewed cooperation signals growing European confidence in Pakistan’s economic potential, particularly in the mining sector. Pakistan Rejects $6 Trillion Mineral Claim At the same forum, Dr. Nawaz Ahmed Virk, Director General of Minerals at the Ministry of Energy, addressed widely circulated claims that Pakistan holds $6 trillion worth of mineral reserves. He categorically rejected the figure, calling it “highly exaggerated” and unsupported by scientific exploration. Virk acknowledged that Pakistan possesses vast mineral resources, especially in regions like Balochistan. However, he stressed that realistic valuations require comprehensive geological studies. His remarks signal a shift toward more evidence-based policymaking in the resource sector. Tax Issues and Investor Incentives Under Review The government continues to adjust policies to attract foreign investors to the Reko Diq mining project. Currently, Pakistan has granted tax exemptions on project income to enhance its appeal. Still, contractors have raised concerns about sales tax and withholding tax during the development phase. Virk confirmed that the Ministry of Energy is working closely with the Finance Division to resolve these issues. Officials are considering deferring such taxes until the project reaches production stage. This move could ease financial pressure on investors and accelerate development timelines. Security Risks Slow Down Project Progress Despite strong international interest, the Reko Diq mining project faces serious security challenges. Canadian mining giant Barrick Gold, which holds a 50 percent stake, recently slowed down development activities. The company cited escalating security risks in Pakistan and the broader region as the primary reason. In its February 2026 statement, Barrick announced a comprehensive review of the project. The review will continue until mid-2027, allowing the company to reassess security conditions, financing needs, and overall project scope. Although development has slowed, Barrick confirmed that the project remains under active management. However, reduced capital spending and potential cost increases could impact timelines. Massive Investment and Future Outlook The Reko Diq mining project ranks among the world’s largest undeveloped copper-gold reserves. Phase 1 alone carries an estimated cost between $5.6 billion and $6 billion. Meanwhile, Phase 2 could require an additional $3.3 billion to $3.6 billion. Initial production was expected by the end of 2028. However, delays linked to security concerns and financial adjustments may push timelines further. Ownership of the project reflects a strategic partnership. Barrick Gold controls 50 percent, while Pakistani state-owned enterprises and the government of Balochistan share the remaining stake. Policy Stability Key to Unlocking Potential Experts believe that policy consistency, regulatory transparency, and security improvements will determine the project’s success. Arena noted that engineering challenges are often easier to solve than regulatory uncertainty. He stressed that predictable policies and enforceable contracts are critical for large-scale mining investments.

FBR Intensifies Action Against Illegal Cigarette Manufacturing and Supply Chain
Pakistan

FBR Intensifies Action Against Illegal Cigarette Manufacturing and Supply Chain

Karachi: Stop Illegal Trade (SIT) has commended the enforcement efforts of the Federal Board of Revenue (FBR), which have yielded significant results over the past year. These include sealing illegal manufacturing units, seizing illicit cigarette stocks, and confiscating raw materials. Enforcement measures continue to dismantle the illicit supply chain from production to retail level. SIT also appreciated the federal government for legislative reforms that extend enforcement powers to provincial governments, calling it a structural shift that has significantly strengthened the country’s capacity to combat illicit cigarette trade. Provincial governments are now leveraging these powers to conduct retail-level operations across key distribution hubs, where non tax paid cigarettes remain widely available to consumers. “This was the right step at the right time, and the results are beginning to show,” said Ahmed Abdullah, spokesperson for SIT, adding that provincial engagement has brought enforcement closer to where the problem is most visible. However, he stressed that consistency will determine the ultimate impact. One-off operations may create temporary disruption, but only sustained and continuous enforcement can permanently dismantle the networks that sustain illicit trade

Karachi’s long-delayed Red Line Bus Rapid Transit (BRT) project has regained momentum as the Frontier Works Organisation (FWO) takes over construction on a key section following the removal of the previous contractor. The takeover comes after authorities halted work by the Lot 2 contractor—covering the Mosamiyat to Hasan Square stretch—and sealed its office due to ongoing delays and performance concerns. With the site now handed over, FWO has deployed machinery and workforce to restart construction activities across multiple نقاط along the corridor. In the initial phase, efforts are focused on repairing roads being used as alternative traffic routes to ease commuter disruptions. The organisation has also placed signage along the route to inform the public about ongoing work and acknowledge the inconvenience caused by construction. This development follows the Sindh government’s decision to cancel the earlier contract due to persistent delays, slow progress, and failure to meet required standards. Officials aim to fast-track progress under FWO’s supervision, with renewed efforts to restore public confidence in one of Karachi’s most critical urban transport projects, which has faced repeated setbacks since its launch.
Breaking News, Pakistan

FWO Steps In as Karachi Red Line BRT Work Resumes After Contractor Removal

Karachi’s long-delayed Red Line Bus Rapid Transit (BRT) project has regained momentum as the Frontier Works Organisation (FWO) takes over construction on a key section following the removal of the previous contractor. Read More: https://theboardroompk.com/imc-among-top-toyota-manufacturing-affiliates-in-asia-pacific-after-winning-three-awards/ The takeover comes after authorities halted work by the Lot 2 contractor—covering the Mosamiyat to Hasan Square stretch—and sealed its office due to ongoing delays and performance concerns. With the site now handed over, FWO has deployed machinery and workforce to restart construction activities across multiple نقاط along the corridor. In the initial phase, efforts are focused on repairing roads being used as alternative traffic routes to ease commuter disruptions. The organisation has also placed signage along the route to inform the public about ongoing work and acknowledge the inconvenience caused by construction. This development follows the Sindh government’s decision to cancel the earlier contract due to persistent delays, slow progress, and failure to meet required standards. Officials aim to fast-track progress under FWO’s supervision, with renewed efforts to restore public confidence in one of Karachi’s most critical urban transport projects, which has faced repeated setbacks since its launch.

Mehmood Arshad appointed Chairman of Economic Council by Employers’ Federation of Pakistan (EFP)
Pakistan

Mehmood Arshad appointed Chairman of Economic Council by Employers’ Federation of Pakistan (EFP)

Karachi, April 29: Mehmood Arshad has been appointed as the Chairman of the Economic Council by the Employers’ Federation of Pakistan (EFP). Read More: https://theboardroompk.com/pso-announced-net-profit-of-pkr-38-1-billion-in-9mfy26/ This decision was made by the Board of Directors during their recent meeting, which was held by the newly elected Board. Mr. Arshad is already a member of the EFP Board and has a wide range of experience in economic diplomacy, financial services, and corporate leadership. At present, he holds the position of Group Executive Director at Pak-Qatar Group and is also part of the boards of several prominent local and international organisations. The EFP leadership welcomed the appointment and expressed confidence that Mr. Arshad’s expertise and vision will enhance the Economic Council’s role in promoting policy discussions and supporting sustainable economic growth. In response to his new role, Mr. Arshad stated that the Economic Council will continue working towards its goals of promoting exports and attracting investments for Pakistan’s economy. He also pointed out that recent geopolitical developments in the region have increased Pakistan’s strategic and economic importance. In this context, he said the Economic Council will focus on identifying opportunities and supporting initiatives that help harness the country’s growing potential. The Employers’ Federation of Pakistan remains dedicated to improving the business environment, encouraging communication between the private sector and policymakers, and contributing to economic development through informed advocacy and research.

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