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Daraz Pakistan kicks off 2026 with 1.1 “The #1 Sale” and five days of big savings
Pakistan

Daraz Pakistan kicks off 2026 with 1.1 “The #1 Sale” and five days of big savings

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As Pakistan counts down to the New Year, Daraz Pakistan has announced 1.1 ‘The #1 Sale’, a five-day shopping celebration designed to kick off 2026 with standout value across electronics, fashion, beauty, lifestyle and everyday essentials. The sale goes live at 8:00 PM on 31 December 2025 and runs till 5 January 2026, giving customers the chance to start the year by upgrading their homes, refreshing their wardrobes, stocking up on essentials, and ticking off long-awaited wish lists with exciting savings. To make the New Year shopping moment more festive and interactive, Daraz 1.1 will feature platform favourites including Shop & Win and Treasure Chest, alongside Brand Rush Hour, which unlocks time-limited offers from participating brands. Read more: Daraz Pakistan Extends 11.11 Excitement with Big Friday Sale from 21 to 30 November Built around the spirit of new beginnings, Daraz 1.1 brings together platform-wide vouchers, best-value pricing and a wide assortment from leading brands, including LG, TCL, Samsung, Xiaomi, Tecno and Haier Pakistan in electronics and home, alongside Abbott, L’Oreal, Ana & Batla, Saeed Ghani, Golden Pearl Cosmetics, Jenpharm and Philips across health, personal care and beauty. Customers can also shop household and pantry favourites from Nestle, Pepsico, Colgate Palmolive and Olper’s, while exploring fashion and accessories picks from Meclay London Official, J., and Calza during the sale. Daraz 1.1 is supported by payment partners Upaisa, MCB, Askari Bank and Soneri Bank, enabling customers to unlock additional value through partner-backed offers. The sale will also feature 100% authentic products and free delivery offers during the campaign period, supporting a smooth and trustworthy shopping experience as customers step into the New Year. “New Year’s is all about fresh starts, and we want 1.1 to feel like the first celebration of 2026 for our customers,” said a Daraz Pakistan spokesperson. “We have brought together exciting savings, a strong line-up of trusted brands, and a shopping experience that is simple and reliable, so customers can start the year by treating themselves, upgrading their homes, or stocking up on essentials, all with great value and 100% authentic products.” Daraz 1.1 “The #1 Sale” will be live nationwide via the Daraz app and website from 31 December 2025 to 5 January 2026.

Pakistan's FBR Misses Tax Target by Rs336 Billion in First Half of FY26
Pakistan

Pakistan’s FBR Misses Tax Target by Rs336 Billion in First Half of FY26

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Islamabad, January 1, 2026 – The Federal Board of Revenue (FBR) has fallen short of its tax collection target for the first half of fiscal year 2025-26 (July-December 2025) by approximately Rs336 billion, according to data from research firm Ismail Iqbal Securities. The chart highlights a cumulative collection of Rs6,154 billion against a revised target of Rs6,490 billion, raising concerns over fiscal performance amid ongoing economic challenges. Persistent Monthly Shortfalls Highlight Structural Issues The bar chart illustrates consistent underperformance across most months in 1HFY26. Notable shortfalls include December 2025 (Rs1,421 billion collected vs. Rs1,446 billion target) and peaks like June 2025 showing a surplus of Rs206 billion. However, deficits in months such as July, August, and November dominated, with figures like Rs673 billion collected in July-24 against higher targets. Analysts attribute this to lower-than-expected inflation, sluggish industrial growth, and reduced imports impacting customs duties. Despite some growth in direct taxes and corporate payments, overall revenue mobilisation remained weak. This marks the continuation of a trend where the FBR has struggled to meet ambitious targets set in consultation with the International Monetary Fund (IMF). Implications for Annual Target and Potential New Measures The Rs336 billion gap in the first half has prompted a downward revision of the full-year FY26 target from around Rs14.13 trillion to Rs13.979 trillion. With the IMF scheduled to review Pakistan’s fiscal indicators soon, experts warn of possible additional tax measures in the coming quarters to bridge the deficit. This could include enhanced enforcement, broader taxation on untaxed sectors, or mini-budgets. The shortfall underscores the need for structural reforms to widen the tax net, improve compliance, and boost economic activity. While collections showed year-on-year growth in some areas, sustained shortfalls risk widening the fiscal deficit and straining debt servicing obligations. Policymakers face pressure to balance revenue needs with growth stimulation in a low-inflation environment.

Pakistan Railways Freight Sector Generates Rs17 Billion in First Half of FY2025-26
Pakistan

Pakistan Railways Freight Sector Generates Rs17 Billion in First Half of FY2025-26

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Pakistan Railways (PR) achieved a significant milestone by earning over Rs17 billion in freight revenue during the first six months of Fiscal Year 2025-26, as announced on January 1, 2026. This robust performance highlights the department’s effective strategies in boosting cargo operations, contributing substantially to overall financial recovery. Notably, despite disruptions from several days of strikes, the freight sector alone generated more than Rs3 billion in November and December combined, demonstrating resilience and operational stability. Read More: https://theboardroompk.com/pakistan-railways-sanitation-upgrade-marks-a-turning-point/ Optimistic Projections and Comprehensive Reforms Ahead Federal Minister for Railways Muhammad Hanif Abbasi commended the management, stating that sustained momentum could push annual freight revenue beyond Rs38 billion by fiscal year-end. He expressed confidence in PR becoming the first national institution to reach Rs1 trillion in total revenue by 2026—a historic target. Future initiatives include phased upgrades of all trains by end-2026 for enhanced safety and comfort, complete CCTV installation, full digitalization, and modernized Railway Police training. Measures against ticketless travel, smuggling, and theft, along with transparent recruitment, have bolstered performance. The minister reaffirmed commitment to transforming PR into a financially strong, passenger-friendly, secure, and modern entity through accelerated reforms.

Pakistan Mobile Imports Hit $801M with 40% Growth, Local Production Thrives
Pakistan

Pakistan Mobile Imports Hit $801M with 40% Growth, Local Production Thrives

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The Pakistan Bureau of Statistics reported a robust 40.51% increase in mobile phone imports for July-November 2025-26, totaling $801.139 million against $570.184 million in the same period last year. This translates to a significant jump in value, driven by easing import policies and growing market demand. Monthly data for November 2025 showed imports at $156.565 million, up from previous months and reflecting sustained momentum. The figures underscore a recovery in consumer spending on electronics following previous years’ constraints. Read More: https://theboardroompk.com/foreign-branded-phones-surge-in-china-shipments-more-than-double-in-november/ Implications for Economy and Local Industry While imports have risen sharply, local manufacturing remains a success story, with plants assembling 25.11 million units from January to October 2025, including 13.2 million smartphones. Commercial imports in volume are minimal, suggesting much of the import value comprises components (CKD/SKD kits) for local assembly rather than finished phones. This explains lower State Bank-recorded payments ($104.5 million for July-November). The trend supports job creation in domestic production but raises concerns over foreign exchange outflow. Experts view the surge positively as a sign of economic normalization, potentially boosting digital penetration, though balanced with efforts to further localize high-value components.

Pakistan's Headline Inflation Stands at 5.6% in December 2025
Pakistan

Pakistan’s Headline Inflation Stands at 5.6% in December 2025

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According to data released by the Pakistan Bureau of Statistics (PBS) on January 1, 2026, headline Consumer Price Index (CPI) inflation stood at 5.6% on a year-on-year (YoY) basis in December 2025. This marks a decrease from 6.1% recorded in November 2025, offering relief amid ongoing economic stabilization efforts. However, it remains higher than the 4.1% registered in December 2024. On a month-on-month (MoM) basis, CPI fell by 0.4%, driven primarily by lower prices of perishable food items. Urban CPI inflation was 5.8% YoY (down from 6.1% in November), with a 0.4% MoM decline, while rural CPI stood at 5.4% YoY (down from 6.3%), showing a sharper 0.6% MoM drop. The Sensitive Price Indicator (SPI) eased to 2.5% YoY, and the Wholesale Price Index (WPI) further moderated to 0.6% YoY, reflecting subdued wholesale pressures. Core Inflation Trends and Broader Implications Core inflation, excluding volatile food and energy items (NFNE), presented a mixed picture: urban core rose slightly to 6.9% YoY from 6.6% in November, indicating persistent underlying pressures in non-food sectors, while rural core edged down to 8.1%. The monthly decline in headline CPI was largely attributed to falling perishable food prices, which dropped 1.7% MoM across urban and rural areas. This moderation aligns with government policies aimed at price stability, though analysts note that inflation for 2025 averaged low single digits, the lowest in a decade. The State Bank of Pakistan’s recent rate cuts reflect confidence in cooling pressures, but elevated core rates suggest caution against premature easing, as highlighted by IMF observations.

Pakistan Foreign Exchange Reserves Show Weekly Stability as SBP Holdings Rise
Pakistan

Pakistan Foreign Exchange Reserves Show Weekly Stability as SBP Holdings Rise

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Pakistan foreign exchange reserves recorded a marginal but positive movement during the final week of December 2025, with the State Bank of Pakistan (SBP) reporting a modest increase in its holdings despite an overall decline in total national reserves. The latest data highlights improving long-term trends in Pakistan’s external position, even as short-term pressures remain visible in commercial bank reserves. According to figures released by the State Bank of Pakistan, SBP-held foreign exchange reserves increased by $12.6 million, or 0.08 percent week-on-week, reaching $15.92 billion for the week ended December 26, 2025. Pakistan Foreign Exchange Reserves: Weekly Snapshot While SBP reserves showed improvement, Pakistan’s total liquid foreign exchange reserves declined slightly during the same period. Total reserves fell by $10.4 million, or 0.05 percent, settling at $21.01 billion. This decline was largely driven by a reduction in reserves held by commercial banks, which dropped by $23 million, or 0.45 percent, to $5.1 billion. The contrast between central bank gains and commercial bank outflows underscores the uneven distribution of foreign currency liquidity within the financial system. In simple terms, the central bank strengthened its reserve buffer, while banks experienced routine foreign exchange movements linked to trade financing, repayments, and private sector obligations. Strong Fiscal Year Recovery in Pakistan Foreign Exchange Reserves Despite short-term fluctuations, Pakistan foreign exchange reserves have posted a strong recovery during the current fiscal year. Since the start of FY2025, SBP-held reserves have risen by $6.85 billion, representing a robust 75.58 percent increase. This improvement reflects a combination of: • Multilateral and bilateral inflows• Improved current account management• External financing arrangements• Stabilization measures under economic reform programs On a calendar-year basis, SBP reserves have increased by $4.2 billion, or 35.9 percent, highlighting sustained momentum throughout 2025. Monthly Trend: Pakistan Foreign Exchange Reserves in November 2025 The SBP’s monthly data further reinforces the positive trend. In November 2025, SBP-held foreign exchange reserves increased by $85.9 million, rising to $14.59 billion from $14.50 billion in October 2025. On a year-on-year basis, SBP reserves recorded a significant jump of $2.55 billion, or 21.19 percent, compared to $12.04 billion in November 2024. This annual growth reflects a notable strengthening of Pakistan’s external buffers amid ongoing economic adjustments. Commercial Banks and Total Reserves: Mixed Signals While central bank reserves improved, net foreign reserves held by commercial banks declined on a monthly basis. In November 2025, bank-held reserves stood at $4.55 billion, down by $122.8 million from the previous month. However, when viewed annually, commercial bank reserves were still higher by $457.7 million, or 11.19 percent, compared to November 2024. This indicates that while monthly volatility persists, the broader trajectory remains positive. As a result of these movements, Pakistan’s total liquid foreign exchange reserves at the end of November 2025 stood at $19.14 billion, slightly lower than October levels but 18.66 percent higher year-on-year, translating into an annual increase of over $3 billion. Fiscal Year Perspective: A Broader Recovery Story Looking at the longer-term fiscal trend, Pakistan foreign exchange reserves have recovered significantly since early 2025. From a low of $15.6 billion in January 2025, total reserves improved by $3.54 billion, marking a 22.71 percent increase over ten months. This steady recovery highlights improving external sector management and reinforces confidence in Pakistan’s ability to meet near-term foreign obligations, support import financing, and stabilize the exchange rate environment. Outlook for Pakistan Foreign Exchange Reserves While short-term fluctuations remain inevitable, the overall trend in Pakistan foreign exchange reserves points toward gradual stabilization. Continued fiscal discipline, export growth, and sustained external inflows will be critical to maintaining this momentum into 2026. For policymakers and investors alike, the steady rise in SBP-held reserves provides reassurance, even as vigilance remains necessary to manage pressures in the broader financial system.

FIA Islamabad Zone Cracks Down on Corruption: Recovers Rs110.25m, Convicts 64 in 2025
Pakistan

FIA Islamabad Zone Cracks Down on Corruption: Recovers Rs110.25m, Convicts 64 in 2025

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The Federal Investigation Agency’s (FIA) Anti-Corruption Circle (ACC) in Islamabad Zone marked a productive year in 2025, demonstrating robust efforts to curb corruption in federal departments. The circle finalised 485 inquiries while registering 389 new ones based on public and institutional complaints. It lodged 122 criminal cases, completed investigations in 67, and submitted challans to courts. Notably, 132 accused individuals were arrested, and through rigorous enforcement, the agency recovered Rs110.25 million from corrupt practices. These figures underscore the FIA’s proactive stance in addressing graft at various levels. Landmark Convictions Including High-Profile Cases In a highlight of effective prosecution, the FIA secured convictions against 64 accused in 20 separate cases, achieving a strong conviction rate. Among the significant verdicts was the December 20, 2025, sentencing of former Prime Minister Imran Ahmed Niazi and Bushra Imran to 17 years’ imprisonment each, along with fines of Rs16.425 million each, in the Toshakhana-II reference. Other notable sentences included Qamer Zaman’s 27-year term with a Rs2 million fine (April 2025), Hamid Jalil’s 29 years and Rs20 million fine, and Nasim Masih’s 17 years with a Rs100 million fine (July 2025). An FIA official emphasised that these outcomes reflect the agency’s commitment, professionalism, and resolve to ensure accountability within federal institutions. Overall, the 2025 performance highlights FIA’s intensified fight against corruption, sending a clear message of zero tolerance.

US-Pakistan Partnership 2025 Marks a Transformational Year
Pakistan

US-Pakistan Partnership 2025 Marks a Transformational Year

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US-Pakistan Partnership 2025 stands out as a defining milestone in bilateral relations, reflecting renewed economic momentum, people-to-people engagement, and strategic cooperation between the two nations. As 2025 draws to a close, US Chargé d’Affaires Natalie Baker has highlighted the year as a powerful new chapter in the long-standing relationship between the United States and Pakistan. In a New Year’s Eve video message shared on social media, Baker described 2025 as a year filled with meaningful achievements that strengthened trust, collaboration, and mutual opportunity. Each milestone, she noted, served as a building block toward a deeper and more resilient partnership. US-Pakistan Partnership 2025 Strengthens Economic and Investment Ties One of the most prominent pillars of the US-Pakistan Partnership 2025 has been economic cooperation. Under the leadership of President Donald Trump, American companies expanded their footprint in Pakistan, investing across high-impact sectors such as technology, energy, trade, textiles, agriculture, and critical minerals. A key example of this growing economic engagement is the Reko Diq copper-gold mining project. US-linked investments in the project are generating employment opportunities in both Pakistan and the United States, while also contributing to Pakistan’s long-term resource development and export potential. In parallel, US soybean exports to Pakistan played a dual role in 2025. These exports supported American farmers while simultaneously strengthening Pakistan’s food security and poultry industry, demonstrating how trade under the US-Pakistan Partnership 2025 creates shared economic value. US-Pakistan Partnership 2025 Advances Peace, Security, and Governance Beyond commerce, the US-Pakistan Partnership 2025 made measurable progress in diplomacy, peace, and security cooperation. According to Baker, leaders from both countries continued to work closely to advance regional stability and ensure that diplomatic engagement delivers tangible results for citizens on both sides. US-funded training initiatives further strengthened Pakistan’s justice sector by enhancing law enforcement capacity and improving access to faster and fairer justice. These programmes, developed under bilateral cooperation frameworks, contributed to institutional development and community-level trust in governance systems. Education at the Heart of US-Pakistan Partnership 2025 Education and cultural exchange remained a cornerstone of the US-Pakistan Partnership 2025. The year marked 75 years of the prestigious Fulbright Programme in Pakistan, a milestone that underscores decades of academic collaboration and leadership development. To commemorate this legacy, the United States inaugurated a new building for the US Educational Foundation in Pakistan (USEFP) in Islamabad. The facility symbolizes the enduring commitment of both countries to educational exchange, research collaboration, and youth empowerment. Baker emphasized that US exchange programmes continue to create life-changing opportunities, foster lifelong friendships, and bring together future leaders who will shape bilateral relations in the decades ahead. Humanitarian Cooperation Under US-Pakistan Partnership 2025 Humanitarian assistance also defined the US-Pakistan Partnership 2025. When devastating floods struck Pakistan, the United States provided life-saving aid, supporting thousands of affected families. This assistance helped communities rebuild with dignity and resilience, reinforcing the humanitarian dimension of bilateral cooperation. Looking Ahead: A Bright Future Beyond 2025 As the United States approaches its 250th anniversary, Baker reaffirmed a shared vision for the future. The goal, she stated, remains simple yet powerful: to build a safer, stronger, and more prosperous world together. For Pakistan and the United States, the momentum generated by the US-Pakistan Partnership 2025 signals a future defined by opportunity, trust, and enduring collaboration.

Reko Diq Project Pakistan: A Global Mining Investment Transforming Pakistan’s Economy
Pakistan

Reko Diq Project Pakistan: A Global Mining Investment Transforming Pakistan’s Economy

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Reko Diq Project Pakistan has entered a decisive new phase in early 2026, transitioning from years of planning and legal complexity into high-intensity construction backed by unprecedented international financing. Located in the Chagai district of Balochistan, the project is now positioned to become one of the world’s top ten copper mines, with far-reaching implications for Pakistan’s economy, exports, and employment. As global demand for copper and gold accelerates amid the energy transition, Reko Diq is emerging as a strategic asset not only for Pakistan but also for international investors and development partners. Reko Diq Project Pakistan Financing: $1.25bn US EXIM Approval Unlocks Global Capital A major breakthrough for the Reko Diq Project Pakistan came in December 2025 with the approval of a large international debt package that significantly reduced project risk and accelerated construction momentum. The US Export-Import Bank (US EXIM) approved $1.25 billion in financing, a move expected to unlock nearly $2 billion in US-origin mining equipment and services. This financing strengthens Pakistan’s access to advanced mining technology while reinforcing trade ties with the United States. In parallel, multilateral lenders have stepped in to further de-risk the project. The International Finance Corporation (IFC) and the Asian Development Bank (ADB) have jointly committed over $1 billion in loans and credit guarantees, ensuring long-term financial stability. Adding to investor confidence, Saudi Arabia’s Manara Minerals, a joint venture between the Public Investment Fund (PIF) and Ma’aden is in advanced negotiations to acquire a 15% equity stake, signaling strong Middle Eastern interest in Pakistan’s mineral sector. Strategic Partnerships Powering the Reko Diq Project Pakistan To execute a project of this scale, Reko Diq has partnered with globally recognized engineering and mining leaders. Finland-based Metso Corporation secured a €70 million contract to supply advanced beneficiation and dewatering equipment, including energy-efficient TankCell and Concorde Cell technologies that reduce operating costs and environmental impact. US engineering giant Fluor Corporation is serving as the lead Engineering, Procurement, and Construction Management (EPCM) partner, overseeing design and execution during the construction phase. For exports, an agreement with Pakistan International Bulk Terminal (PIBT) ensures efficient handling and shipment of copper and gold concentrates starting in 2028, strengthening Pakistan’s mineral export infrastructure. Economic Impact of the Reko Diq Project Pakistan The economic footprint of the Reko Diq Project Pakistan is expected to be transformational over its estimated 37-year mine life. The project is projected to generate over $70 billion in free cash flow, significantly boosting national revenues. In its very first year of production, Reko Diq is expected to contribute $2.8 billion in exports, equivalent to nearly 10% of Pakistan’s current total export volume. Employment generation is another major benefit. During the construction phase, the project will create approximately 7,500 jobs in Balochistan, while long-term operations are expected to sustain around 4,000 permanent positions. Internationally, the US EXIM-backed supply chain alone is projected to support 6,000 jobs in the United States, highlighting the project’s global economic reach. Reko Diq Project Pakistan Timeline and Production Outlook Construction activity is already underway, with heavy machinery deployed on-site and early works initiated in 2025. The project is targeting first production by late 2028. In Phase 1, annual output is expected to reach 200,000 tons of copper and 250,000 ounces of gold. Phase 2, planned from 2034 onward, will double production, placing Reko Diq among the world’s most productive copper-gold mines. To support logistics, a $390 million railway infrastructure plan approved in September 2025 will connect Rohri to Nokundi through a 1,350-kilometer rail link, eliminating the need for nearly 28,000 truckloads annually and reducing transport costs and emissions. Ownership Structure of the Reko Diq Project Pakistan The project operates under a balanced public-private partnership model. Barrick Gold of Canada holds a 50% stake and serves as the operator. The Government of Pakistan owns 25% through state entities OGDCL, PPL, and GHPL, while the Government of Balochistan holds the remaining 25%, including a 10% free-carried interest requiring no capital contribution from the province. Reko Diq Project Pakistan as a Global Mining Benchmark The Reko Diq Project Pakistan has evolved from a prolonged legal dispute into a flagship example of international commercial diplomacy and strategic investment. With financial close expected by mid-January 2026, the project is firmly on track to reshape Pakistan’s mining sector, strengthen exports, and unlock sustainable growth for Balochistan. As global capital, technology, and policy alignment converge, Reko Diq stands as a defining milestone in Pakistan’s economic future.

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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