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APTMA URGES FBR TO ADJUST SUPER TAX LIABILITY AGAINST PENDING TAX REFUNDS
Pakistan

APTMA URGES FBR TO ADJUST SUPER TAX LIABILITY AGAINST PENDING TAX REFUNDS

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KARACHI The All Pakistan Textile Mills Association (APTMA) has urged the FBR to adjust the Super Tax liability following the recent decision of the Federal Constitutional Court against outstanding Sales Tax, Income Tax and other refunds pending for payment by the Government to manufacturers and exporters for years. Read More: https://theboardroompk.com/frontier-or-developing-countries-consumers-are-value-seekers-not-bargain-hunters-dr-zeelaf-munir-at-gulfood-2026/ In a press statement, Chairman APTMA Mr. Kamran Arshad said that the industry, especially the export-oriented textile industry which is facing serious liquidity issues since the last several months due to a slowdown in export orders and an overall poor business environment, are not in a position to make massive tax payments in one go. He further said that the payment of super tax in one tranche would not only disturb the day-to-day business activities of the ailing textile industry but would also lead to overall deterioration of the national economy. Kamran Arshad said that demanding payment of Super Tax in a single tranche is neither practical nor workable as the industry is grappling with an acute liquidity crunch due the high cost of doing business, including high energy prices, double-digit interest rates, excessive taxation, and large-scale import of raw material and intermediate inputs displacing domestic upstream segments. He further said that the immediate demand of payment of Super Tax in hundreds of billions of rupees would not only drain working capital but would also upset cash flows and make it difficult for most business to meet day to day business obligations including payment of salaries, utility bills and other financial commitments. Kamran Arshad urged the FBR, in the best interest of the economy and industry, to adjust Super Tax liabilities against long-pending income tax, sales tax and other refund claims like TUF and DLTL, and the remaining liability should be converted into easy business-friendly instalments, so that the taxpayers may meet their super tax liabilities in a reasonable period without negatively impacting their business operations. Kamran Arshad highlighted that computation of Super Tax under Section 4C in respect of exporters is required to be based on imputable income as they remained subject to the Final Tax Regime (FTR) up to Tax Year 2024. Imputable income for the purpose of Section 4C for exporters should be worked out by reverse calculation of income corresponding to the tax already paid under FTR, so as to arrive at an equivalent tax liability under the Normal Tax Regime. In view of the widespread implications for the export-oriented textile sector, FBR needs to sit with APTMA and other stakeholders to work out details about imputable income for generic clarification on the application of Super Tax under Section 4C in order to save exporters from different interpretations on imputable income. Kamran Arshad emphasized that recovery should be suspended immediately till these concerns are resolved. Kamran Arshad reiterated that if the FBR does not provide relief to the industry in paying the Super Tax liability in a workable manner, it will undoubtedly lead to large-scale closure of businesses, including SMEs and export-oriented textile mills which are the source much needed foreign exchange for the country. This would also have a further negative impact on the economy by shrinking the tax base instead of expanding it, and lead to unemployment of hundreds of thousands of workers.

ABHI Microfinance Bank Signs MoU with DigiKhata to Unlock Structured Financing for SMEs Nationwide
Pakistan

ABHI Microfinance Bank Signs MoU with DigiKhata to Unlock Structured Financing for SMEs Nationwide

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KARACHI: ABHI Microfinance Bank has signed a Memorandum of Understanding (MoU) with DigiKhata, a leading digital ledger platform used by small and medium enterprises (SMEs), to enable structured financing solutions for businesses operating on DigiKhata’s platform. Read More: https://theboardroompk.com/kse-100-index-extends-rally-as-banking-and-tech-stocks-drive-market-momentum/ The partnership is designed to connect digitally active SMEs with formal financial services, allowing eligible merchants and businesses on DigiKhata to access financing through ABHI Microfinance Bank. By combining DigiKhata’s digital business ecosystem with ABHI’s regulated banking infrastructure, the collaboration aims to help SMEs unlock working capital and accelerate business growth. DigiKhata’s platform, widely used by small retailers and traders to manage sales, credit, and inventory records, generates digital transaction trails that can support more informed credit assessment. Through this integration, ABHI Microfinance Bank will be able to extend financing solutions to SMEs based on structured evaluation processes, bringing more businesses into the formal credit landscape. Industry experts note that access to timely working capital remains one of the biggest barriers to SME growth in Pakistan. By embedding financial services within digital platforms already used by businesses, such partnerships are helping bridge the gap between informal trade and formal banking channels. The initiative is expected to support business expansion, inventory management, and cash flow stability for small merchants, enabling them to scale operations with greater financial confidence. The move also aligns with broader efforts to promote financial inclusion by bringing underserved business segments into the documented economy. The MoU was formally signed by Mariam Pervaiz, Chief Communications Officer, ABHI Microfinance Bank, and Adnan Aslam, Chief Executive Officer, DigiKhata. Also present at the ceremony was Kabeer Naqvi, Entrepreneur in Residence at ABHI Financials, along with representatives from both organisations. Mariam Pervaiz, CCO, ABHI Microfinance Bank, said the collaboration reflects the Bank’s focus on empowering small businesses through technology-driven finance. “SMEs are the backbone of Pakistan’s economy, yet many remain outside the formal financial system. By partnering with DigiKhata, we are meeting businesses where they already operate digitally and enabling access to responsible financing that can help them grow, stabilise cash flows, and scale sustainably.” Adnan Aslam, CEO, DigiKhata, highlighted the importance of linking digital record-keeping with access to capital. “Small businesses today are generating valuable financial data through digital tools, but access to formal credit has often remained out of reach. This partnership with ABHI Microfinance Bank creates a pathway for merchants on DigiKhata to turn their digital activity into financial opportunity, supporting the next phase of their growth.”

Digital Agri-Loan Initiative: .SBP and PBA Greenlight HBL Zarai as Key Agricultural Services Provider
Pakistan

Digital Agri-Loan Initiative: .SBP and PBA Greenlight HBL Zarai as Key Agricultural Services Provider

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The State Bank of Pakistan (SBP), through the Pakistan Banks Association (PBA), has conveyed it’s no objection to onboarding HBL Zarai Services Limited (HBL Zarai) as an approved Agricultural Services Provider (ASP) under the ‘Zarkhez-e’, Asaan Digital Zarai Qarza Scheme. Read More:https://theboardroompk.com/high-beam-headlights-ban-in-pakistan-signals-a-tough-new-stand-on-road-safety/ The approval enables participating banks to facilitate structured in-kind agricultural financing, strengthening transparency and improving farmer economics through productive service delivery. Under the scheme, in kind financing replaces cash disbursement with direct access to approved agricultural services. This ensures financing is utilized strictly for productive farm activities such as quality inputs, agronomic advisory, mechanization, and market linkage, reducing leakages and improving monitoring effectiveness at the farm level. Commenting on the significance of structured in-kind financing, Saleem Ullah, Deputy Governor State Bank of Pakistan, said: “The ‘Zarkhez-e’, Asaan Digital Zarai Qarza Scheme is designed to ensure that agricultural financing is deployed productively and transparently along with Agri-advisory services to enhance farmers’ productivity. In-kind financing, supported by approved service providers, strengthens oversight, improves outcomes for farmers, and enhances the effectiveness of agricultural credit.” As an approved ASP, HBL Zarai will operationalize this model through a comprehensive end to end agriculture services platform. Farmers will be able to utilize their financing limits directly at HBL Zarai locations for high quality seeds, fertilizers, and crop protection products, supported by continuous on ground agronomic advisory. In addition, farmers will have access to mechanization services on a pay per use basis and a structured crop off take mechanism uniquely offered by HBL Zarai, providing transparent market access, objective quality grading, and prompt documented payments. Together, these services form a closed loop system linking financing with production and market outcomes, ensuring responsible utilization of agricultural credit. Zafar Masud, Chairman Pakistan Banks Association, added: “The onboarding of integrated Agricultural Services Providers under the scheme enables banks to collaborate with credible execution partners. This model promotes responsible financing while supporting farmers with access to essential agricultural services through structured delivery mechanisms.” HBL Zarai is the first ever non-financial subsidiary of a leading banking group in Pakistan to be approved as an Agricultural Services Provider under a national agricultural financing scheme. It is also the largest ASP in terms of service breadth and operational scale, offering all major agricultural services under one roof through its network of Zarai Deras and Zarai Dost Shops across Punjab and Sindh. Commenting on the approval, Amer Aziz, Chief Executive Officer of HBL Zarai, said: “Approval as an Agricultural Services Provider under the ‘Zarkhez-e’, Asaan Digital Zarai Qarza Scheme reflects confidence in HBL Zarai’s integrated and execution driven model. Our role is to ensure that agricultural finance translates into real productivity, transparency, and improved farmer incomes through services delivered on ground.” Following the approval, several participating banks have initiated engagement with HBL Zarai to operationalize in kind financing under the scheme. These discussions are focused on system enablement, onboarding processes, and coordination mechanisms to facilitate seamless in-kind transactions at HBL Zarai locations. The onboarding of HBL Zarai as an Agricultural Services Provider strengthens collaboration between banks and service providers and supports national priorities for sustainable agriculture, financial inclusion, and farmer centric development.

Pak-Qatar Monthly Income Plan Maintains Strong Returns with PKR 1.200 Dividend
Pakistan

Pak-Qatar Monthly Income Plan Maintains Strong Returns with PKR 1.200 Dividend

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Karachi: Pak-Qatar Asset Management Company Limited (PQAMC), a leading dedicated Islamic asset management company in Pakistan, has announced a monthly dividend of PKR 1.200 per unit for its Pak-Qatar Monthly Income Plan (PQMIP) for January 2026. Read More: https://theboardroompk.com/frontier-or-developing-countries-consumers-are-value-seekers-not-bargain-hunters-dr-zeelaf-munir-at-gulfood-2026/ PQMIP, one of the highest-return plans in its category, continues to deliver strong performance for investors seeking Shariah-compliant income solutions. The dividend was earned as of January 28, 2026. PQAMC recently received an Asset Manager rating of ‘AM2+’ with a Stable Outlook from VIS Credit Rating Company Limited, reflecting the company’s solid market position and operational strength. Farhan Shaukat, Chief Executive Officer of PQAMC, approved the dividend distribution under authority delegated by the Board of Directors. “We are pleased to announce this distribution to PQMIP unit-holders,” said Mr. Farhan Shaukat. “This reflects our robust investment strategy and ongoing commitment to delivering value to our participants. The recent rating upgrade further validates the confidence our stakeholders place in PQAMC.” As part of Pak-Qatar Group, Pakistan’s pioneer in Islamic financial services, PQAMC remains dedicated to supporting the nation’s economy through innovative, Shariah-compliant investment solutions. Investors can view PQMIP’s performance on the Mutual Funds Association of Pakistan (MUFAP) website.

KSE-100 Index Extends Rally as Banking and Tech Stocks Drive Market Momentum
Pakistan

KSE-100 Index Extends Rally as Banking and Tech Stocks Drive Market Momentum

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The KSE-100 Index kicked off the trading week on a confident note, signaling renewed investor optimism amid selective buying across heavyweight sectors. The benchmark index closed Monday’s session at 185,057.83 points, registering a gain of 883.35 points or 0.48%, as volatility created opportunities for active traders and long-term investors alike. What made the session particularly intriguing was the wide intraday swing, reflecting both profit-taking and fresh accumulation at lower levels an indicator that the market remains highly responsive to sector-specific cues. KSE-100 Index Sees Sharp Intraday Volatility The KSE-100 Index traded within an impressive range of 2,819 points, touching an intraday high of 185,611.72 points before dipping to 182,792.39 points. Such sharp movement underscores growing participation from institutional and retail investors navigating short-term volatility. Market activity remained robust, with 215.8 million shares traded among KSE-100 constituents. Out of the 100 index companies, 49 closed higher, 50 declined, and one remained unchanged, highlighting a finely balanced session beneath the headline gains. Top Gainers and Losers Shape the KSE-100 Index Rather than listing tables, market action tells a clearer story when broken down narratively. Stocks that outperformed the market included Sazgar Engineering, which surged over 9%, followed by Fatima Fertilizer, Pakistan General Leasing, and Honda Atlas Cars, reflecting renewed interest in autos, fertilizers, and leasing plays. On the flip side, pressure was visible in select names such as Murree Brewery, Indus Motor, and Pakistan Stock Exchange Limited, as investors booked profits after recent rallies. Heavyweights Fuel KSE-100 Index Point Gains From an index contribution perspective, United Bank Limited (UBL) emerged as the single biggest supporter, adding nearly 248 points to the KSE-100 Index. It was closely followed by Engro Holdings, Systems Limited, Fatima Fertilizer, and Sazgar Engineering a clear signal that blue-chip and growth stocks were firmly in play. Conversely, Fauji Fertilizer Company (FFC) weighed heavily on the index, erasing over 230 points, while Lucky Cement, HBL, and Indus Motor also acted as drags. Sector-Wise Performance Highlights in the KSE-100 Index Sectors Supporting the KSE-100 Index The rally was largely powered by Commercial Banks, which added more than 343 points, reinforcing their leadership role in Pakistan’s equity market. Investment companies, oil & gas exploration firms, automobile assemblers, and the technology & communication sector also played pivotal roles. Sectors Dragging the Market Meanwhile, cement and fertilizer sectors came under pressure, alongside food & personal care products and insurance, reflecting selective rotation rather than broad-based selling. Broader Market Mirrors KSE-100 Index Strength The positive sentiment extended beyond the benchmark, with the All-Share Index closing at 111,198.99 points, up 473.53 points. Although total market volume dipped to 740 million shares, the session still recorded a traded value of Rs42.2 billion, suggesting sustained liquidity despite reduced turnover. Trading activity remained widespread, with 487 companies participating 214 advancing, 222 declining, and 51 closing flat. KSE-100 Index Performance: A Bigger Picture Zooming out, the KSE-100 Index has delivered a remarkable performance this fiscal year, gaining over 59,400 points, translating into a 47% surge. Even on a calendar-year basis, the index is up more than 6%, reinforcing Pakistan’s equity market as one of the stronger performers among frontier markets. What’s Next for the KSE-100 Index? With banking, technology, and energy stocks continuing to anchor the market, analysts believe the KSE-100 Index could remain range-bound in the near term, punctuated by stock-specific opportunities. As earnings season approaches and macro signals evolve, volatility may persist but so will opportunity. For investors watching from the sidelines, the message is clear: the KSE-100 Index is no longer moving quietly it’s demanding attention.

Uzbekistan Transport Ministry Karachi Port Trust Visit: A Strategic Move That Could Redefine Regional Trade
Pakistan

Uzbekistan Transport Ministry Karachi Port Trust Visit: A Strategic Move That Could Redefine Regional Trade

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The Uzbekistan Transport Ministry Karachi Port Trust visit may appear ceremonial at first glance, but beneath the protocol lies a strategic signal one that could reshape trade corridors connecting Central Asia to global markets through Pakistan. As regional economies search for faster, cost-efficient logistics routes, Karachi Port is steadily emerging as a gateway of choice. A high-level delegation from the Ministry of Transport of the Republic of Uzbekistan, led by H.E. Omarov Mamanbiy Allabergenovich, First Deputy Minister of Transport, arrived at Karachi Port Trust (KPT). The delegation was received by Rear Admiral Shahid Ahmed, SI(M), S.Bt (Retd), Chairman KPT, along with senior port officials setting the stage for discussions that went far beyond routine diplomacy. Why the Uzbekistan Transport Ministry Karachi Port Trust Engagement Matters This visit comes at a time when landlocked Central Asian states, including Uzbekistan, are actively exploring southern maritime routes to reduce dependence on longer, costlier logistics chains. Pakistan, with its deep-sea ports and improving inland connectivity, presents a compelling alternative. Chairman KPT highlighted the historical, cultural, and intellectual ties between Pakistan and Uzbekistan, underscoring how trade cooperation can build upon centuries-old connections. The message was clear: economic geography is evolving, and Karachi is positioning itself as Central Asia’s maritime bridge. Inside Karachi Port Trust’s Expansion Vision During the briefing, the Uzbek delegation was presented with a comprehensive overview of KPT’s ongoing and future-ready infrastructure projects, each designed to enhance capacity, efficiency, and multimodal connectivity. Instead of tables, these initiatives can be understood as three strategic development pillars: Karachi Port Trust is advancing major waterfront projects, including: • The East–West Connectivity Bridge, aimed at reducing congestion and improving cargo flow.• A dedicated Ferry Terminal, enhancing maritime passenger and logistics services.• The Maritime Business District at TPX, envisioned as a commercial hub integrating port operations with business and services.• South Wharf expansion, designed to accommodate larger vessels and increased cargo volumes. Together, these developments signal KPT’s ambition to compete with leading regional ports. For Uzbekistan, port access is only as good as inland connectivity. KPT emphasized projects that link sea to land seamlessly, including: • The Lyari Elevated Freight Corridor, enabling faster cargo movement from port to highways.• Karachi Northern Bypass and Malir Expressway, reducing urban bottlenecks.• Rail freight expansion under ML-1, a backbone project for long-haul cargo movement across Pakistan. These corridors directly support Central Asian transit trade, shortening delivery times and lowering logistics costs. The Uzbekistan Transport Ministry Karachi Port Trust dialogue focused on regional integration, positioning Karachi as a logistics hub for Uzbek exports and imports, spanning textiles, agriculture, minerals, and manufactured goods. A Gateway to Central Asia’s Future For Uzbekistan, access to warm-water ports has long been a strategic priority. Karachi Port offers: • Shorter routes to Middle Eastern, African, and European markets• Reliable maritime infrastructure• Expanding rail and road links into Central Asia via Pakistan For Pakistan, this partnership enhances its role as a regional transit economy, unlocking new revenue streams and strengthening geopolitical relevance. Beyond Symbolism: What This Visit Really Signals The exchange of souvenirs and group photographs marked the conclusion of the visit, but the implications extend far beyond protocol. The Uzbekistan Transport Ministry Karachi Port Trust engagement reflects: • Growing confidence in Pakistan’s port infrastructure• Rising Central Asian interest in southern trade corridors• Karachi Port’s transformation into a regional logistics powerhouse As global supply chains diversify, such engagements hint at new trade routes quietly taking shape routes where Karachi stands at the center. Conclusion: Karachi Port at the Crossroads of Opportunity The Uzbekistan delegation’s visit is more than a diplomatic courtesy; it is a strategic alignment of interests. With modern infrastructure, expanding connectivity, and regional ambition, Karachi Port Trust is positioning itself as the maritime heartbeat linking Central Asia to the world. If momentum continues, this visit may be remembered as a turning point in Pakistan–Uzbekistan trade relations one that opens new corridors of commerce, cooperation, and connectivity.

Gold Price in Pakistan Slides Sharply: What Triggered the Sudden Rs21,500 Drop?
Pakistan

Gold Price in Pakistan Slides Sharply: What Triggered the Sudden Rs21,500 Drop?

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The gold price in Pakistan stunned investors and consumers alike on Monday after registering one of the sharpest single-day declines in recent months. The sudden pullback has reignited debate across bullion markets, jewelry circles, and investor forums, is this a temporary correction or the start of a broader trend reversal? Read More: https://theboardroompk.com/gold-investors-witness-bloodbath-as-it-falls-rs35500-per-tola-to-rs537362-in-pakistan/ According to data released by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), 24-karat gold per tola fell by a massive Rs21,500, bringing the new price down to Rs490,362 per tola. The decline follows weeks of volatility driven by global economic signals and shifting investor sentiment. Gold Price in Pakistan Across Different Weights The decline was not limited to a single category. On a per-gram basis, the gold price in Pakistan also reflected heavy losses. In the domestic market: • 24-karat gold per 10 grams dropped by Rs18,433, settling at Rs420,406• 22-karat gold per 10 grams declined to Rs385,386, making it relatively more attractive for jewelry buyers This synchronized fall across weights highlights how closely Pakistan’s bullion market mirrors global price movements especially during periods of heightened volatility. Silver Prices Follow Gold’s Lead Silver also failed to escape the downward momentum. The 24-karat silver price in Pakistan fell sharply: • Per tola: Rs8,405, down Rs601• Per 10 grams: Rs7,205, down Rs516 While silver often behaves independently, its decline alongside gold suggests broader pressure on precious metals rather than metal-specific weakness. Gold Price in Pakistan: A Snapshot of Market Performance Looking at short- and long-term trends helps put the latest fall into perspective. Over a day-on-day basis, gold shed Rs21,500 per tola. Over the past month, prices are still higher by Rs34,800, indicating that the broader trend remains upward despite the correction. From the start of the fiscal year, gold has surged by over Rs140,000 per tola, underlining why many still view it as a long-term hedge. On a calendar-year-to-date basis, prices remain up by Rs33,400. Silver shows a similar pattern short-term weakness but solid gains over longer horizons. What’s Driving the Fall in Gold Price in Pakistan? The primary driver lies beyond domestic borders. Globally, spot gold slipped to around $4,590 per ounce, falling $149 or 3.14% in a single session. The decline came as: • Investors rushed to lock in profits after gold’s recent rally• The U.S. dollar strengthened, making gold more expensive for holders of other currencies• Market expectations shifted around interest rates and global liquidity Since Pakistan’s bullion prices are directly linked to international gold rates and currency movements, the global sell-off quickly transmitted to local markets. What This Means for Investors and Buyers For short-term traders, the dip introduces volatility and caution. For long-term investors, however, the correction may present a strategic entry point especially given gold’s strong fiscal-year performance. For jewelry buyers, falling prices could temporarily revive demand, particularly ahead of wedding season, when gold purchases traditionally rise across Pakistan. Final Thoughts: Correction or Calm Before the Storm? The latest drop in the gold price in Pakistan is sharp but not entirely unexpected after months of upward momentum. While global cues will continue to dictate direction, gold’s long-term appeal as an inflation hedge and safe-haven asset remains intact. As markets digest global signals, one thing is certain: gold is back at the center of economic conversation, and every move now carries implications for investors, consumers, and policymakers alike.

FIA Karachi Biggest Recovery: How a Rs47 Billion Petroleum Scandal Shook Pakistan’s Economy
Pakistan

FIA Karachi Biggest Recovery: How a Rs47 Billion Petroleum Scandal Shook Pakistan’s Economy

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The FIA Karachi biggest recovery has emerged as a landmark moment in Pakistan’s corporate accountability landscape, sending a powerful message across financial and energy sectors. In what officials are calling the largest recovery in the history of FIA Karachi, a petroleum company accused of causing a staggering Rs47 billion loss to the national exchequer has begun repaying the amount ending years of investigation, controversy, and public concern. Read More: https://theboardroompk.com/dr-kabir-ahmed-sidhu-secp-chairman-appointment-signals-strong-regulatory-push/ At a time when Pakistan’s economy remains under intense fiscal pressure, this recovery is being viewed not merely as a legal success, but as a symbol of renewed enforcement and governance. How the Rs47 Billion Petroleum Levy Case Unfolded According to official findings, the petroleum company allegedly collected petroleum levy from consumers between 2019 and 2022, but failed to deposit the funds into the government treasury. This lapse, classified as corporate financial fraud, accumulated losses amounting to Rs47 billion one of the largest sums ever linked to a single corporate inquiry in Pakistan. The investigation, registered as Inquiry No. 3/23, was conducted by FIA Karachi’s Corporate Crime Circle and led by Deputy Director Ayaz Mehr, who later submitted a detailed report to the Public Accounts Committee (PAC). Instead of listing figures in a table, the recovery structure can be explained clearly: • The company has already paid Rs1 billion in cash as the first instalment.• Post-dated cheques worth Rs46.4 billion have been submitted to ensure full repayment.• An unconditional and irrevocable bank guarantee has also been provided to safeguard government interests. This payment framework reflects one of the most comprehensive recovery mechanisms ever negotiated by FIA Karachi. Who Filed the Complaint and Who Was Named? The case was initiated following a formal complaint by Ashfaq Ahmed, Deputy Director at the Ministry of Energy and Petroleum. The investigation named 13 accused individuals, including: • The petroleum company’s owners• Members of its Board of Directors• Two women directors• High-profile corporate figures, including former KESC Managing Director Tabish Gauhar The inclusion of senior executives elevated the case from a routine inquiry to a high-stakes corporate accountability test. Why the FIA Karachi Biggest Recovery Matters for Pakistan’s Economy Beyond the headline numbers, the FIA Karachi biggest recovery carries deep implications for Pakistan’s fiscal discipline. Petroleum levy is a critical revenue stream for the federal government, directly impacting development spending, energy subsidies, and debt management. Recovering Rs47 billion helps: • Reduce pressure on public finances• Reinforce confidence in regulatory institutions• Signal stricter enforcement for large corporations• Restore public trust in financial oversight mechanisms Business analysts believe this case could become a precedent-setting model for handling future large-scale corporate fraud. A Two-Year Investigation That Changed the Narrative The inquiry passed through multiple investigating officers over nearly two years, highlighting systemic delays often associated with high-profile financial cases. However, the final outcome full recovery rather than prolonged litigation marks a rare and decisive conclusion. Confirming the development, FIA Karachi Corporate Crime Circle Head Ayaz Mehr stated that the investigation report has been formally submitted to the Public Accounts Committee, ensuring parliamentary oversight and transparency. What Comes Next After the FIA Karachi Biggest Recovery? While the recovery process has begun, experts note that this case may trigger wider audits within the petroleum and energy sectors. Regulatory authorities are now expected to tighten compliance checks to prevent similar lapses in levy collection and deposit. For businesses, the message is clear: financial non-compliance at scale will no longer go unnoticed.

Amendments to Gas Cess Approved: Path Cleared for Rs400bn Stuck Funds for TAPI
Pakistan

Amendments to Gas Cess Approved: Path Cleared for Rs400bn Stuck Funds for TAPI

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Pakistan’s Cabinet Committee on Disposal of Legislative Cases (CCLC) has approved crucial amendments to the Gas Infrastructure Development Cess (GIDC) Act, 2015, paving the way to unlock over Rs400 billion in stuck funds currently tied up in litigation across various High Courts. Read More: https://theboardroompk.com/saudi-arabia-launches-national-privatization-strategy-targets-64b-in-private-investments-by-2030/ This decision, made on a summary from the Petroleum Division dated January 1, 2026, aims to resolve long-standing legal disputes and enable the utilization of these funds for essential gas infrastructure projects. Background and Legal Challenges The GIDC was initially imposed on gas consumers, excluding domestic and commercial sectors, to finance major pipeline initiatives. Introduced under the GIDC Act 2011 and Ordinance 2014, it faced constitutional challenges and was struck down by the Supreme Court in 2014. The 2015 Act reinstated it with retrospective effect, designating funds for projects like the Iran-Pakistan Pipeline, Turkmenistan-Afghanistan-Pakistan-India (TAPI) Pipeline, and LNG developments. However, industrial, fertilizer, and CNG consumers contested its validity in High Courts, leading to prolonged appeals. In August 2020, the Supreme Court upheld the Act’s constitutionality, classifying GIDC as a fee requiring quid pro quo, and allowed recovery of arrears in installments without imposing fresh cess. Implications and Future Steps Despite the ruling, litigation persists, blocking the release of over Rs400 billion for intended projects. A high-powered GIDC Committee, formed in November 2022 under the Prime Minister and later chaired by the Finance Minister in March 2025, recommended amendments to Section 4 to address court observations. The CCLC’s approval incorporates these changes, to be refined by the Law and Justice Division before final Cabinet endorsement. This move is expected to facilitate legal resolutions, allowing gas companies to advance stalled infrastructure. For consumers, it could stabilize gas supply and pricing by enabling project progress. Failure to pursue these initiatives, as noted by the Supreme Court, might render the cess inoperative. Overall, the amendments signal a commitment to overcoming bureaucratic and judicial hurdles for Pakistan’s energy sector growth.

Pakistan's Private Sector Borrowing Jumps Rs589bn in FY26 Amid Policy Boosts
Pakistan

Pakistan’s Private Sector Borrowing Jumps Rs589bn in FY26 Amid Policy Boosts

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Pakistan’s banking sector has seen a significant uptick in private sector credit, with disbursements reaching Rs589 billion from July 1, 2025, to January 16, 2026. Read More: https://theboardroompk.com/ai-voice-command-banking-is-here-and-ubl-is-leading-the-revolution/ This growth, though lower than the Rs1.367 trillion recorded in the same period last year, signals a rebound driven by recent government and central bank measures aimed at stimulating economic activity. Government and SBP Initiatives The federal government recently slashed the export refinance rate by 300 basis points to 4.5 percent, providing much-needed relief to export-oriented industries. In parallel, the State Bank of Pakistan (SBP) held its key policy rate steady at 10.5 percent while reducing the Cash Reserve Requirement (CRR) for banks from 6 percent to 5 percent. This CRR adjustment is designed to inject additional liquidity into the banking system, encouraging more lending to businesses. Expert Insights and Future Outlook Banker Mir Bakhtiar Ali Khan praised the CRR cut as a timely intervention that could release at least Rs300 billion for lending. He noted that channelling even half of this to the private sector could accelerate growth in large-scale manufacturing, projected at around 6 percent this fiscal year. Babar Khan, Chairman of the Pakistan Hosiery Manufacturers and Exporters Association, welcomed the export incentives but urged further reductions in energy costs and taxes to enhance global competitiveness. Analyst Ibrahim Amin highlighted the need to include small and medium exporters in refinance schemes, rather than favoring large players. He also advocated for integrating e-commerce startups into formal banking to boost exports. Experts believe these steps will lower borrowing costs, improve market liquidity, and foster sustainable economic expansion. Overall, the measures reflect a commitment to supporting industrial revival and inclusive growth in Pakistan’s economy.

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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