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KARACHI: Businessmen Panel Progressive (BMPP) Chairman and Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Senior Vice President Saquib Fayyaz Magoon has termed the recently finalized free trade agreement between India and the European Union a “serious challenge” to Pakistan’s export base. In a statement, Saquib Fayyaz Magoon said that after facing defeat on the battlefield, India has now “opened an economic front” by signing trade deals with multiple countries, including the EU. He cautioned that the agreement could erode Pakistan’s competitive edge in European markets. Despite Pakistan’s GSP Plus status, which allows duty-free access for nearly 80 percent of its exports to the EU, the country’s textile exports stand at $6.2 billion, only marginally ahead of India’s $5.6 billion exports despite India facing a 12 percent tariff. “Once India secures zero-rated access under the EU deal, Pakistan’s advantage will vanish, and our exports could suffer a severe blow,” he warned. Mr. Magoon stressed that Pakistan risks losing its foothold in the European market if urgent corrective measures are not taken. “Once a market is lost, regaining entry is extremely difficult,” he said, urging the government to act decisively. He called for immediate steps including reducing electricity tariffs to 9 cents per unit, simplifying the tax regime, and offering incentives to exporters. “The government must declare an export emergency and adopt industry-friendly policies to safeguard Pakistan’s economic interests,” he emphasized. Drawing a parallel with military success, Mr. Magoon remarked: “Just as the armed forces secured victory on the battlefield, the business community now needs government support to win this economic war.”

Nurken Rzaliyev, Head of Q-Commerce Services, inDrive said Super apps have long been portrayed as the inevitable next stage of digital evolution — a single platform that brings mobility, groceries, payments, logistics, and daily services into one seamless ecosystem. In Pakistan, however, repeated attempts have failed to gain meaningful traction. Not because the market lacks potential, but because the model has consistently been implemented the wrong way. Read More: https://theboardroompk.com/gulf-investors-file-2bn-arbitration-suit-against-pakistan-over-ke-dispute/ The failure of earlier super app experiments was not technological. It was structural. Platforms tried to do too many things at once, expanded without a strong core business, and overestimated the market’s readiness for bundled digital ecosystems. Growth was engineered from the top down, driven by ambition rather than behaviour. Sustainable platforms are not built that way. A real super app is not a product strategy — it is a trust architecture. It grows out of daily habits, fairness, and reliability. It starts with one service people use frequently, trust instinctively, and depend on daily. Without that foundation, integration becomes noise rather than value. Pakistan’s digital economy today is far more mature than it was during earlier failed attempts. Smartphone adoption has surged, digital payments have normalized, and users are more comfortable with app-based services. Systems like Raast have helped build confidence in digital transactions, while everyday services like ride-hailing and deliveries have become routine. But readiness alone is not enough. Platforms must align with local behaviour and culture. Pakistan is a price-sensitive, trust-driven society. Transparency matters. Fairness matters. Negotiation is not a feature — it is a social norm. Digital platforms that ignore this reality struggle to integrate. Those that respect it build loyalty. inDrive’s model is anchored in this principle. It is not algorithm-first — it is people-first. It gives users fair choice instead of automated price imposition. This is not just a pricing model; it is a philosophy that reflects how real markets function in emerging economies. Every successful super app begins with a dominant core utility. For inDrive, that core is ride-hailing — a high-frequency service that builds daily engagement and trust. Once that trust is established, expansion becomes organic rather than forced. Diversification must be sequenced, not rushed. Services like courier, freight, and groceries are not parallel experiments; they are extensions of daily behaviour. Each vertical must integrate naturally into existing user routines. This creates platform coherence instead of fragmentation. Groceries, in particular, represent one of the most strategic high-frequency categories in digital commerce. Food and household essentials define daily consumption. But quick commerce is not a convenience play — it is an operational discipline. Logistics density, quality control, last-mile reliability, and pricing stability determine long-term success. Speed alone does not create loyalty — consistency does. True platform advantage is not fast delivery. It is predictability, trust, and fairness. Long-term digital platforms in emerging markets must also reject unsustainable growth models. Burning capital without building loyalty creates inflated scale without real value. User trust, engagement depth, and community impact matter more than short-term financial optics. Super apps are not built by stacking services. They are built by stacking trust. Pakistan’s future super app ecosystem will not be defined by feature volume, aggressive expansion, or platform dominance. It will be defined by reliability, fairness, and daily usefulness. Platforms that grow from people’s needs — not from boardroom ambition — will endure. The next generation of digital platforms in Pakistan must be people-driven, community-rooted, and behaviour-led. That is how ecosystems are built. And that is how super apps will finally succeed in Pakistan.

China’s leading sportswear giant, Anta Sports Products, announced on Tuesday that it has reached an agreement to acquire a 29.06% stake in German athletic brand Puma for €1.51 billion ($1.8 billion). Read More: https://theboardroompk.com/facebook-parent-company-meta-inks-nuclear-deals-for-6-6-gw-to-power-ai-ambitions/ The deal, struck with the Pinault family’s investment vehicle Artemis, makes Anta the largest shareholder in the historic Herzogenaurach-based company. Anta is paying 35 euros per share in cash—a massive 62% premium over Puma’s closing price on Monday. While the acquisition cements Anta’s position as a global powerhouse, the company was quick to clarify that it currently rules out a full takeover of the German firm. A Strategic Entry into the ‘Big Three’ The acquisition is a calculated move by Anta to bridge the gap between its domestic dominance and its global ambitions. By securing a near-controlling interest in Puma, Anta now has a seat at the table with one of the world’s most recognizable sports brands, alongside Nike and Adidas. Industry analysts suggest that Anta intends to leverage its deep understanding of the Chinese retail landscape to revitalize Puma, which has seen its market share in mainland China stagnate at just 7% of its global revenue. Anta’s leadership believes that with the right operational “empowerment,” Puma’s brand heat can be restored to its former glory. Revitalizing a Struggling Icon Puma has faced a challenging 2025, marked by sluggish sales and the announcement of 900 administrative job cuts. Investors have been sceptical of recent product launches, including the Speedcat sneaker, which failed to ignite the expected consumer fervor. Anta’s investment is seen as a lifeline and a vote of confidence in Puma’s new CEO, Arthur Hoeld, and his turnaround strategy focused on “brand heat” and cost discipline. Following the news, Puma shares surged as much as 17% in Frankfurt, as the market reacted to the prospect of Anta’s proven track record in turning around Western labels like Fila and Salomon.

PSX experienced a largely uneventful session as the KSE-100 Index moved sideways and closed at 188,203, down 385 points (-0.20%). The market lacked clear direction as investors continued to digest SBP’s surprise “No-Change” policy decision announced a day earlier, leading to cautious trading behavior across most sectors. On the policy and legal front, sentiment was influenced (on a temporary basis) by the Constitutional Court’s ruling, which upheld Section 4B of the Income Tax law, reaffirming Parliament’s authority to levy income tax, declaring earlier High Court decisions related to the super tax were partially invalid, adding a layer of uncertainty for select corporates. From a macroeconomic perspective, SBP’s active presence in the foreign exchange market remained in focus. The central bank conducted net FX interventions amounting to USD 10.8bn between Jun’24 and Oct’25, with USD 1.03bn recorded in Oct’25 alone, underscoring efforts to manage external stability. On the corporate side, SAZEW announced its 2QFY26 results, posting EPS of Rs. 66.56 (up 67% YoY but down 9% QoQ), falling short of street expectations of Rs. 73–78. The company also declared a dividend of Rs. 15 per share alongside the results. Index-wise, ENGROH, EFERT, HUBC, LUCK, and MCB acted as key laggards, collectively dragging the index by 857 points. In contrast, today’s momentum saviors were FFC, MEBL, PPL, SYS, and BAFL added 952 points, helping offset downside pressure. Overall market participation remained moderate, with total volumes of 745.4mn shares and a turnover of PKR 52.9bn, while KEL led the volume chart with 90.1mn shares traded. Going forward, the market is expected to consolidate within the 185k–190k range, with 185k likely to serve as the first key support level.

Pakistan’s cement exports posted a modest value increase in the first half of fiscal year 2025-26 (July-December 2025), despite a decline in export volumes, according to data from the Pakistan Bureau of Statistics (PBS). Read More: https://theboardroompk.com/growing-stablecoin-use-challenges-global-monetary-order-warns-imf/ Overall Export Performance Cement exports reached US$173.169 million during July-December 2025-26, up 3.40% from US$167.472 million in the same period of 2024-25. In local currency, revenues grew 4.92% to PKR48.85 billion. Quantity Decline Export volumes fell 5.84% year-on-year to 4,417,399 metric tons from 4,691,454 metric tons. This divergence between value and volume suggests higher average export prices or shifts in product mix/markets. December 2025 Trends In December 2025, exports totaled US$22.035 million, down sharply by 30.92% from US$31.898 million in December 2024. However, on a month-on-month basis, December showed a strong rebound of 32.61% from US$16.617 million in November 2025. Broader Sector Context The modest export growth contrasts with stronger domestic demand trends in the period. Cement dispatches (domestic + exports) rose in various reports, driven by local sales growth in northern and southern regions. Northern exports declined notably (around 18.53% in some data to 808,506 tons), while southern exports remained nearly flat. The export slowdown has contributed to tighter local supply in some areas, with reports of price increases in northern Pakistan. Implications The value uptick reflects resilience in Pakistan’s cement sector amid global competition and domestic recovery signals. Higher export realizations helped offset volume softness. No specific reasons for the changes were detailed in the report, but sector observers note ongoing efforts to target markets in Asia, Africa, and beyond. This performance aligns with earlier FY26 trends showing export fluctuations but overall sector momentum from infrastructure and construction activity.

WASHINGTON: Rapid growth in stablecoins could place significant competitive pressure on central banks’ monetary frameworks, an International Monetary Fund (IMF) official warned on January 22, 2026. Speaking at a financial stability conference, the senior IMF representative highlighted how dollar-pegged stablecoins—led by Tether (USDT) and Circle’s USDC—are increasingly used for cross-border payments, remittances, and as stores of value in emerging markets. Erosion of Monetary Policy Transmission The official explained that widespread adoption of stablecoins can weaken central banks’ ability to transmit policy through interest rates and reserve requirements. In countries with high inflation or limited access to traditional banking, stablecoins often serve as de facto substitutes for local currency, reducing demand for domestic money and complicating liquidity management. This dynamic is especially pronounced in Latin America, sub-Saharan Africa, and parts of Asia, where dollar-based stablecoins have gained traction amid currency volatility. Regulatory Fragmentation Adds Risk The IMF stressed that uneven global regulation creates vulnerabilities. While the United States, European Union, and Singapore have advanced stablecoin frameworks, many jurisdictions still lack clear rules, enabling regulatory arbitrage and potential financial stability risks. The official noted that stablecoins’ reserve backing—often in short-term U.S. Treasuries—ties them closely to U.S. monetary conditions, amplifying spillovers when the Federal Reserve tightens policy. Call for Coordinated Oversight The IMF urged faster international coordination on supervision, reserve standards, and interoperability to mitigate risks without stifling innovation. Central bank digital currencies (CBDCs) were positioned as one potential response, though the official cautioned that CBDCs alone may not fully counter stablecoin dominance if private issuers maintain advantages in speed, cost, and user experience. The remarks reflect growing IMF concern that private digital currencies could reshape the global monetary landscape faster than anticipated.

ECAP President Zafar Paracha on Raast-Powered Remittances Pakistan’s remittance landscape is undergoing a quiet but powerful transformation. With the State Bank of Pakistan (SBP) approving the routing of home remittances through the Raast instant payment system, exchange companies are stepping into a faster, more transparent, and fully digital future. To understand what this decision really means for overseas Pakistanis, the economy, and the common citizen, theboardroompk.com spoke with Mr. Zafar Paracha, President of the Exchange Companies Association of Pakistan (ECAP), who calls this move “historic” and “long overdue.” “This Is a Historic Day for the Exchange Companies Sector” TBR: Mr. Paracha, ECAP has welcomed SBP’s decision quite strongly. Why do you see this as such an important development? Zafar Paracha: This is indeed a historic and highly positive step for the entire remittance ecosystem of Pakistan. For the first time, exchange companies are officially allowed to transfer home remittances directly into bank accounts and digital wallets through Raast, Pakistan’s instant payment system. This approval addresses long-standing challenges related to speed, transparency, and accessibility. It reflects the State Bank of Pakistan’s trust in exchange companies and its commitment to modernizing financial services. Raast and Remittances: What Changes for the Common Man? TBR: For a layperson, how does routing remittances through Raast make life easier? Zafar Paracha: In very simple terms, it means faster, safer, and cheaper remittances, Earlier, many overseas Pakistanis worried about delays or limited access in remote areas. With Raast, remittances can now be delivered instantly, even to people living in far-flung villages, directly into their bank accounts or mobile wallets. There’s no unnecessary paperwork, fewer intermediaries, and complete transparency. This is digital finance working for the common citizen. “SBP Responded Positively to ECAP’s Request” Read more: Raast QR Insurance Payments Drive Pakistan’s Cashless Insurance Ecosystem TBR: Was this something ECAP had been pushing for? Zafar Paracha: Absolutely. ECAP had formally approached the State Bank of Pakistan, and I must acknowledge that SBP responded in a sympathetic and constructive manner, Previously, SBP had already allowed exchange companies to become part of the Pakistan Remittance Initiative (PRI). Allowing remittance transfers via Raast is a logical next step and a very practical advancement for the sector. We are grateful to the central bank for understanding ground realities and future needs. Why Overseas Pakistanis Are the Biggest Winners TBR: How will this decision impact overseas Pakistanis sending money home? Zafar Paracha: Overseas Pakistanis are the biggest beneficiaries of this move. Now, their hard-earned money can reach families instantly, securely, and at very low cost. Whether the recipient lives in a big city or a remote town, Raast ensures equal access. This convenience will naturally encourage people to use formal and legal channels, which ultimately strengthens Pakistan’s economy. Will This Boost Pakistan’s Remittance Inflows? TBR: Do you expect an increase in remittance inflows because of this step? Zafar Paracha: Yes, without a doubt. When systems are fast, transparent, and affordable, people trust them. This initiative will increase remittance inflows, reduce reliance on informal channels, and improve documentation. Both senders and receivers benefit, while the country gains stronger foreign exchange inflows. Exchange Companies and the Vision of Digital Pakistan TBR: How does this align with Pakistan’s broader digital vision? Zafar Paracha: This is fully aligned with the Digital Pakistan vision and SBP’s objective of promoting a cashless economy exchange companies are committed to playing their full role in this transition. By integrating with Raast, we are embracing digital innovation while ensuring financial inclusion for millions of Pakistanis. Final Word: A Turning Point for Pakistan’s Financial Future TBR: Any final message for the public? Zafar Paracha: This decision marks a turning point. It shows that Pakistan’s financial system is evolving in the right direction towards efficiency, transparency, and inclusion. Exchange companies stand ready to support SBP in making Raast a success and ensuring that remittances remain a strong pillar of Pakistan’s economy.