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Pakistan Petroleum Imports Decline 1.26% to $7.98 Billion in First Half of FY26
Pakistan

Pakistan Petroleum Imports Decline 1.26% to $7.98 Billion in First Half of FY26

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ISLAMABAD: Pakistan’s imports of petroleum, oil, and lubricants (POL) group fell by 1.26% to $7,986.454 million during July–December 2025, compared to $8,088.103 million in the same period last fiscal year. Read More: https://theboardroompk.com/pakistans-digital-payments-lag-peers-despite-rapid-growth-rs11-5-trillion-is-outside-banks-and-only-15-of-bank-accounts-are-digitally-active/ The data, released by the Pakistan Bureau of Statistics (PBS), shows a modest contraction in the overall POL import bill amid mixed trends across sub-categories. Crude and Products Rise, LNG Plunges Petroleum crude imports surged 11.21% to $2,991.883 million from $2,690.363 million previously. Petroleum products also increased by 5.05%, reaching $3,122.606 million against $2,972.480 million. In contrast, liquefied natural gas (LNG) imports dropped sharply by 28.10% to $1,358.307 million from $1,889.132 million. Liquefied petroleum gas (LPG) saw a 4.18% decline to $513.537 million. December Shows Mixed Performance On a year-on-year basis, POL imports in December 2025 rose marginally by 0.31% to $1,570.275 million from $1,565.483 million in December 2024. Month-on-month, December imports jumped 23.99% from $1,266.419 million in November 2025. The overall POL group import reduction contrasts with broader import trends, where total imports grew significantly in the period. Economic Context The slight dip in POL spending may reflect lower LNG demand, possibly due to domestic production adjustments, pricing, or supply dynamics, though the report does not specify reasons. Higher crude and product imports indicate sustained energy needs for refining and consumption. POL remains a major component of Pakistan’s import bill, influencing the trade balance and foreign exchange reserves. The figures underscore ongoing efforts to manage energy imports amid global price volatility and domestic economic priorities.

After Pakistan, Telenor Sells $3.9B Stake in Thailand's True Corporation
Pakistan

After Pakistan, Telenor Sells $3.9B Stake in Thailand’s True Corporation

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OSLO/BANGKOK: After Pakistan, Norwegian telecom operator Telenor has agreed to sell its entire 33.3% stake in Thailand’s True Corporation to Charoen Pokphand Group’s investment arm for approximately $3.9 billion in cash. Read More: https://theboardroompk.com/jazzcash-reaches-57-million-customers-processes-massive-pkr-15-trillion-in-2025/ The transaction, announced on January 22, 2026, marks Telenor’s complete exit from the Thai market after more than two decades of investment. Strategic Exit from Southeast Asia Telenor CEO Sigve Brekke described the deal as a “milestone” in the company’s strategy to focus on core Nordic and Asian markets with stronger long-term potential. The proceeds will primarily fund shareholder returns, debt reduction, and reinvestment in high-growth areas such as digital services and infrastructure. Telenor first entered Thailand in 2001 through a joint venture that eventually led to the creation of dtac, which merged with TrueMove H in 2023 to form True Corporation. True Corporation Gains Full Control The sale gives Charoen Pokphand (via its affiliate) majority ownership of True Corporation, Thailand’s largest mobile operator by subscribers following the 2023 merger. True’s chairman Suphachai Chearavanont welcomed the transaction, stating it strengthens the company’s position as a leading converged telecom and digital platform provider. The deal is expected to close in the second half of 2026, subject to regulatory approvals from Thai authorities and other customary conditions. Financial Impact Telenor expects to book a gain of around NOK 20-25 billion ($1.8-2.3 billion) from the sale, depending on final adjustments. The company reiterated its commitment to a progressive dividend policy and plans to return significant capital to shareholders. Analysts viewed the exit positively, noting Telenor’s reduced exposure to competitive and regulated emerging markets.

"Sustainable tourism does not compromise needs of future generations," Muhammad Atif Hanif, CEO of Al Baraka Bank Pakistan
Pakistan

“Sustainable tourism does not compromise needs of future generations,” Muhammad Atif Hanif, CEO of Al Baraka Bank Pakistan

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Muhammad Atif Hanif, President & CEO of Al Baraka Bank Pakistan, stressed that “sustainable tourism can be simply defined as tourism that does not compromise the needs of future generations.”He said this during 2nd edition “Transforming Tourism for Community Development”, organized by the Islamic Chamber of Commerce and Development (ICCD), under the esteemed patronage of the Ministry of Commerce and the Board of Investment, Government of Pakistan, on January 21 – 22, 2026, at PC Hotel, Karachi. Read More: https://theboardroompk.com/first-panda-bond-pakistan-plans-to-raise-250-million-in-yuan-market/ CEO of Al Baraka Bank said “sustainable tourism means that the tourism we enjoy today should leave the environment in a significantly good state, allowing the next generation to experience the same benefits without losing that opportunity.”

Pakistan's Foreign Aid Surges to $4.51 Billion in H1 FY26
Pakistan

Pakistan’s Foreign Aid Surges to $4.51 Billion in H1 FY26

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Pakistan has recorded a significant influx of foreign assistance totaling $4.51 billion during the first half of the fiscal year 2025-26.This marks a 20% increase compared to the same period last year, highlighting improved international support amid ongoing economic challenges. Read More: https://theboardroompk.com/after-canada-uk-holds-business-dialogue-with-china/ The data, released by the Economic Affairs Division, excludes contributions from the IMF’s Extended Fund Facility, which are accounted separately. Breakdown of Bilateral Contributions Bilateral loans and grants formed a key part of this assistance, amounting to $1.07 billion.Saudi Arabia emerged as a major donor, providing $600 million under its oil facility. China contributed significantly with $255.6 million in guaranteed loans and an additional $72.28 million directly. Other notable bilateral loans included $71.15 million from Denmark and $15.61 million from France. Grants from bilateral sources totaled $31.68 million, with Japan leading at $11.86 million. China followed with $10.57 million in grants, and Saudi Arabia added $3.31 million. Multilateral Support and Future Projections Multilateral institutions provided $1.97 billion in loans and $28.95 million in grants. The International Development Association (IDA) was the largest lender at $580.77 million. The Asian Development Bank disbursed $549.24 million in loans and $2.65 million in grants. Note: The article mentions $265 million from ADB under multilateral grants, but this seems like a possible typo as it’s listed as USD265 million, which might be $2.65 million or $265,000; however, based on context, it’s interpreted as $2.65 million for consistency with other figures. The Islamic Development Bank offered $483.78 million in short-term loans. The International Bank for Reconstruction and Development (IBRD) contributed $221.73 million. Additional multilateral loans came from the Islamic Development Bank ($52.49 million) and the International Fund for Agricultural Development (IFAD) at $21.39 million. Grants from multilaterals included $15.40 million from IBRD and $8.18 million from IDA. In December alone, inflows reached $1.47 billion, a sharp rise from November’s $511.49 million. The fiscal year budget estimates project $147.93 million in grants and $6.4 billion in loans from these sources. Disbursements from Naya Pakistan Certificates added $1.2 billion. To bolster reserves, Pakistan maintains $9 billion in term deposits, including $5 billion from Saudi Arabia and $4 billion from China. This assistance is crucial for maintaining foreign exchange reserves and supporting economic stability. Overall, the surge reflects strengthened diplomatic ties and international confidence in Pakistan’s reforms.

Pakistan Commits Rs. 100.36 Billion to Electrify Transport by 2030 Under NEVP
Pakistan

Pakistan Commits Rs. 100.36 Billion to Electrify Transport by 2030 Under NEVP

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The Government of Pakistan has committed a substantial Rs. 100.36 billion in total subsidies through 2030 to accelerate the country’s shift toward cleaner transport under the New Energy Vehicles Policy (NEVP) 2025–2030.This ambitious initiative covers electric bikes, rickshaws, loaders, cars, buses, and trucks, aiming to reduce dependence on imported fossil fuels, curb carbon emissions, and foster domestic EV manufacturing. Read More: https://theboardroompk.com/how-this-pakistani-man-levelled-up-post-layoff-with-library-study-and-networking-in-canada/ The policy marks a pivotal step in addressing Pakistan’s energy and environmental challenges. The transport sector consumes around 79% of the nation’s oil demand, contributing heavily to foreign exchange outflows and air pollution in urban centres like Karachi and Lahore, according to Asim Ayaz, General Manager of Policy at the Engineering Development Board. By promoting electric vehicles (EVs), particularly two- and three-wheelers that dominate local mobility, the NEVP targets 30% of new vehicle sales to be electric by 2030. This is expected to save billions in fuel imports—potentially up to $1 billion annually—while cutting greenhouse gas emissions by millions of tons and creating green jobs in manufacturing and infrastructure. The flagship Pakistan Accelerated Vehicle Electrification (PAVE) Scheme, implemented by the Engineering Development Board (EDB) under the Ministry of Industries and Production, is now operational. Phase-I, launched following e-balloting in late 2025, provides subsidies for 41,000 vehicles: 40,000 electric bikes and 1,000 electric rickshaws/loaders. Successful applicants under the Self Finance Scheme receive up to Rs. 80,000 directly reimbursed by the State Bank of Pakistan after vehicle purchase and registration. The Bank Lease Scheme offers subsidized installments for easier access. As of January 21, 2026, subsidy transfers have commenced for the first verified beneficiaries, signaling the scheme’s move from planning to real-world impact. Coordination among EDB, State Bank, PITB, NADRA, banks, and approved manufacturers ensures transparent, digital verification. Only registered EVs qualify, preventing misuse. Phase-II will expand to an additional 78,170 vehicles with Rs. 8.95 billion in subsidies during 2025–26, building momentum toward broader categories like cars, buses, and trucks. The NEVP also envisions infrastructure growth, including 3,000 charging stations nationwide by 2030, battery swapping, and vehicle-to-grid integration to utilize surplus electricity. Beneficiaries have welcomed the move, citing affordable cleaner mobility amid rising fuel costs. For many in low- and middle-income groups, especially rickshaw drivers and delivery riders, subsidies make EVs viable alternatives to petrol vehicles. Experts view this as a strategic response to global trends and local needs—lowering healthcare costs from pollution, boosting local industry (with dozens of licensed EV manufacturers), and aligning with renewable energy growth. Challenges remain, including charging infrastructure rollout and battery supply chains, but the subsidy commitment underscores sustained government resolve. This policy positions Pakistan to join regional EV leaders, transforming transport into a sustainable, efficient sector for future generations.

Pakistan Debt Rating Holds Steady at 'B-': Fitch Highlights Sensitivity to Fiscal, External Shocks
Pakistan

Pakistan Debt Rating Holds Steady at ‘B-‘: Fitch Highlights Sensitivity to Fiscal, External Shocks

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Fitch Ratings has affirmed Pakistan’s long-term foreign-currency sovereign debt ratings at ‘B-‘ with a stable outlook, while assigning a new ‘RR4’ Recovery Rating and removing the ratings from Under Criteria Observation (UCO). Read More: https://theboardroompk.com/how-this-pakistani-man-levelled-up-post-layoff-with-library-study-and-networking-in-canada/ This action, dated January 21, 2026, stems from the full application of Fitch’s updated Sovereign Rating Criteria (effective September 2025), which for the first time incorporates explicit recovery assumptions into sovereign assessments. Technical Update Under New Framework The affirmation does not reflect a material change in Pakistan’s credit fundamentals but rather the completion of Fitch’s review process following the criteria overhaul. Many lower-rated sovereigns, including Pakistan, had been placed under UCO temporarily. The ‘B-‘ level—unchanged since the upgrade from ‘CCC+’ in April 2025—signals material default risk with limited margins of safety, driven by persistently high public debt, elevated interest burdens relative to revenue, and ongoing fiscal vulnerabilities. However, the rating acknowledges progress in macroeconomic stabilization, including improved external buffers, higher foreign reserves, and adherence to IMF-supported reforms. Implications for Investors and Recovery Prospects The newly assigned ‘RR4’ Recovery Rating indicates average recovery expectations in a hypothetical default scenario, with historical recoveries typically in the 31-50% range for principal and interest. This provides greater transparency to bondholders and lenders about potential losses. Overall, the action signals modest confidence in Pakistan’s trajectory: while risks tied to debt sustainability, external financing pressures, and reform continuity remain, the stable outlook and removal of UCO suggest no immediate downgrade pressure. Sustained fiscal consolidation and IMF program performance will be key to future rating momentum.

World Bank Raises Red Flag Over Proposed Changes to NEPRA's Independence
Pakistan

World Bank Raises Red Flag Over Proposed Changes to NEPRA’s Independence

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The World Bank has expressed serious concerns over proposed amendments to the NEPRA Act, 1997, and the Electricity Act, 1910, warning that changes could undermine the independence of Pakistan’s National Electric Power Regulatory Authority (NEPRA). According to reports, the amendments involve replacing references to the “Federal Government” with “Power Division” or “division concerned” in key sections, potentially allowing greater administrative control by the Power Division over NEPRA’s regulatory functions. Read More: https://theboardroompk.com/gap-widens-imf-projects-3-2-growth-for-pakistan-below-govts-4-2-target/ NEPRA serves as an independent statutory body responsible for determining tariffs, rates, charges, and terms for electricity generation, transmission, and distribution companies. It recommends these to the relevant authorities for notification. The proposed changes are described by the government as administrative in nature, aimed at removing procedural difficulties and avoiding delays, following a Federal Cabinet directive linked to past judicial rulings like the Mustafa Impex case. The Power Division has clarified that policy decisions retain the term “Federal Government,” and the amendments do not subordinate NEPRA or grant the Power Division independent policy authority. However, the World Bank conveyed its worries in a recent meeting with Pakistani authorities, with another discussion planned soon. Business and industrial sectors have echoed similar fears, arguing that diminished autonomy could affect fair tariff decisions and sector governance. Prime Minister Shahbaz Sharif has taken notice and directed the Power Minister to address the issue. World Bank’s Stance on Regulatory Autonomy The World Bank’s position aligns with broader international emphasis on independent regulators to ensure transparent, efficient power sectors free from undue executive influence. In Pakistan’s context, where the energy sector grapples with inefficiencies, high costs, and ongoing reforms, preserving NEPRA’s quasi-judicial independence is seen as crucial for investor confidence and sustainable development. Government Response and Implications Officials maintain the amendments are technical and do not alter NEPRA’s core independence or legal status. NEPRA administratively reports to the Federal Cabinet, but its regulatory role remains intact. If adopted without adjustments, the changes could impact ongoing World Bank-supported programs in Pakistan’s energy sector, potentially delaying reforms or loans tied to governance standards. The matter highlights tensions between streamlining bureaucracy and safeguarding regulatory integrity amid Pakistan’s persistent power challenges.

Aviation Services Giant Menzies Signals Major Expansion in Pakistan as Privatisation Gains Momentum
Pakistan

Aviation Services Giant Menzies Signals Major Expansion in Pakistan as Privatisation Gains Momentum

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Global aviation services giant Menzies Aviation has signalled strong intentions to deepen its presence in Pakistan, coinciding with the federal government’s aggressive push to privatise and outsource key airport operations. Read More: https://theboardroompk.com/reviving-air-links-pakistan-and-bangladesh-restore-direct-flights-after-14-years/ The development came to light during a high-level meeting on the side lines of the World Economic Forum in Davos, where Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb engaged with Hassan El Houry, Chairperson of Menzies Aviation. Discussions centred on boosting airport efficiency, service quality, and investment opportunities tied to Pakistan’s ongoing economic reforms. Strategic Interest in Pakistan’s Aviation Growth Menzies Aviation, a UK-based leader operating at over 350 airports across more than 60 countries, views Pakistan as a high-potential market for aviation-related investments. Chairperson Hassan El Houry described the country as a promising destination for business expansion, particularly highlighting Sialkot’s strategic role in aviation and logistics. The company already maintains a foothold in Pakistan through its joint venture Menzies-RAS (formed after acquiring a stake in Royal Airport Services in 2020), which employs over 2,800 people and serves multiple airports including Islamabad, Karachi, Lahore, Peshawar, Multan, Faisalabad, Quetta, and Sialkot. This existing network positions Menzies favourably to scale operations as privatisation opens new doors. Alignment with Privatisation and Economic Reforms The talks aligned closely with Pakistan’s broader agenda to outsource operations at major airports such as Islamabad, Karachi, and Lahore, alongside the recent privatisation of Pakistan International Airlines (PIA). Minister Aurangzeb briefed El Houry on these initiatives, emphasizing improvements in passenger experience and operational efficiency through private sector and international partnerships. Both parties reaffirmed their commitment to stronger cooperation, mutually beneficial investments, and sustainable growth in Pakistan’s aviation sector. This engagement reflects growing international confidence in Pakistan’s positive economic trajectory and reform momentum, potentially paving the way for enhanced global connectivity and job creation in the industry.

OGDC Announces Third Consecutive Discovery: 3,100 BOPD at Baragzai X-01 in Nashpa Block
Pakistan

OGDC Announces Third Consecutive Discovery: 3,100 BOPD at Baragzai X-01 in Nashpa Block

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ISLAMABAD: Oil and Gas Development Company Limited (OGDC), the operator of the Nashpa Exploration License, on Tuesday announced another major oil and gas discovery at its exploratory well Baragzai X-01 (Slant), located in Kohat district of Khyber Pakhtunkhwa. Read More: https://theboardroompk.com/government-quietly-jacks-up-petroleum-levy-by-rs24-to-record-rs84-27-ltr/ The discovery has been made over the Samana Suk and Shinawari formations. The well tested positive during Cased Hole Drill Stem Test (CHDST-03) in the Samana Suk and Shinawari formations, flowing 3,100 barrels of oil per day (BOPD) and 8.15 million standard cubic feet per day (MMSCFD) of gas through a 32/64-inch choke at a wellhead flowing pressure of 3,010 pounds per square inch gauge (PSIG). The latest find at the Nashpa Block is OGDC’s third discovery within a one month duration. Cumulatively, the company has discovered 9,480 barrels of oil per day during this period, representing approximately 14.5 percent of Pakistan’s current domestic crude oil production. Baragzai X-01 (Slant) was spudded on December 30, 2024, as an exploratory well to evaluate the hydrocarbon potential of multiple formations, including Lockhart, Hangu, Lumshiwal, Samana Suk, Shinawari, Datta, and Kingriali. The well was successfully drilled to a total depth of 5,170 metres into the Kingriali Formation. Earlier, based on wireline log evaluations, two cased-hole drill stem tests were conducted in the Kingriali and Datta formations, both of which also resulted in oil and gas discoveries. The new discovery will contribute towards mitigating the energy supply–demand gap through indigenous resources and will add to the hydrocarbon reserves base of OGDC, its joint venture partners, and the country as a whole. OGDC reaffirmed its commitment to accelerating exploration activities and responsibly developing the country’s energy resources to support national energy security and economic growth.

Gold Hits New Record High in Pakistan: Per Tola Reaches Rs493,662 with Rs4,300 Gain
Pakistan

Gold Hits New Record High in Pakistan: Per Tola Reaches Rs493,662 with Rs4,300 Gain

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Gold prices in Pakistan surged to a fresh all-time high on Tuesday, January 20, 2026, mirroring strong gains in the international bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola climbed by Rs4,300 to reach Rs493,662, marking a new record level. Similarly, the rate for 10 grams of gold increased by Rs3,686 to Rs423,235. Read More: https://theboardroompk.com/gold-price-in-pakistan-declines-as-market-sentiment-softens/ This upward movement followed Monday’s sharp rise of Rs7,500 per tola to Rs489,362, highlighting a consistent bullish trend in recent days. Internationally, spot gold rose by $43 to $4,713 per ounce, with a premium of $20 noted in some trading. Bullish Momentum from Global Factors The local surge was directly aligned with international gold’s performance, where prices continued to benefit from factors such as expectations of lower interest rates globally, safe-haven demand amid geopolitical uncertainties, and a relatively softer US dollar in recent sessions. Traders observed that the precious metal has been on an upward trajectory for several days, breaking previous records repeatedly. This momentum has pushed Pakistani gold prices close to the significant psychological barrier of Rs500,000 per tola, fuelling interest among investors and jewellers alike. Silver also saw gains, rising by Rs87 to Rs9,869 per tola, reflecting broader precious metals strength. The consistent increases have been driven by robust global demand, with gold futures and spot prices hitting multi-year or record highs in response to macroeconomic signals. Implications for Local Market and Investors In the domestic context, the rapid appreciation has implications for buyers, including those planning weddings or investments, as higher prices make purchases more expensive amid already elevated inflation concerns. Jewellers reported increased inquiries but cautious buying due to the volatility. Analysts suggest that if international trends persist—particularly with ongoing central bank policies favouring rate stability—local rates could test or surpass Rs500,000 soon. However, any reversal in global sentiment could lead to corrections. Overall, the rally underscores gold’s enduring appeal as a hedge in uncertain times, with Pakistan’s market closely tracking worldwide movements.

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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