Government to develop national GI protection strategy
Pakistan is working to establish a dedicated Geographical Indications (GI) Registry and is developing a National Geographical Indications Protection Strategy to guide the expansion and protection of GI products both domestically and internationally.
Federal Minister for Commerce, Jam Kamal Khan, shared these plans during the National Conference on Geographical Indications Awareness, jointly organised by the Ministry of Commerce and the Food and Agriculture Organisation (FAO). He reaffirmed Pakistan’s commitment to promoting and institutionalising its geographical indications regime.
Delivering the keynote address, the minister said GIs are more than intellectual property tools—they are powerful instruments for preserving cultural heritage, supporting rural development, and unlocking export opportunities. “We stand at a critical juncture where Pakistan can elevate its identity in global markets—not just as a producer of commodities, but as a custodian of quality and heritage,” he said.
New structural benchmarks: IMF
Pakistan said on Monday that 11 new structural benchmarks by the International Monetary Fund (IMF) were not new conditions but a “continuation” and “natural next step” of the $7 billion programme to roll out the agreed reforms agenda.
It said that some of these benchmarks, including a requirement to submit a plan for the smooth transition to an interest-free economy and debt servicing surcharge, had to be included due to developments that took place after the finalisation of the Memorandum for Economic and Financial Policies (MEFP) with the IMF in September last year.
In a detailed statement on the rationale behind adding “new structural benchmarks” by the IMF, the Ministry of Finance said these were advancing or continuing actions under the broad policy goals set at the outset of the programme.
The ministry said that actions already completed were moving to the next phase, while others were updated or reiterated to ensure that policy goals under the programme were met.
On the IMF condition to publish a new Post-2027 Financial Sector Strategy, the ministry said that, “This benchmark was set in light of the 26th constitutional amendment passed in October 2024.
Repatriation jumps 115pc YoY in April
The repatriation of profits and dividends on foreign investments in Pakistan saw a significant increase in April 2025, rising by 115 percent year-on-year (YoY) to reach $121.5 million, according to data released by the State Bank of Pakistan (SBP).
Despite the strong YoY growth, the figure was down by 23.1 percent compared to March 2025, when the outflows stood at $157.9 million, according to Arif Habib Limited (AHL).
Cumulatively, during the first ten months of FY25 (July to April), total repatriation of profits and dividends amounted to $1.83 billion, marking a robust 107 percent YoY increase from $882.6 million recorded in the same period of FY24. This surge reflects improved investor confidence, a relatively stable currency environment, and easing foreign exchange restrictions, which have allowed multinational companies to remit earnings more freely.
In terms of sectoral performance for April 2025, the financial business sector led with $74.0 million in outflows, registering a 355 percent YoY and 216 percent month-on-month (MoM) increase. Communications followed with $4.4 million, up 89 percent YoY.
Taxes on Drinks, junk food under review
A proposal is being considered to increase taxes on sugary drinks and impose federal excise duty (FED) on ultra-processed products in the upcoming budget for 2025-26.
At present, the tax rate is 20 percent, which is being considered to be enhanced to 40 percent in the budget. The rate was raised from 13 percent to 20 percent two years ago with the commitment to increasing it 10 percent every year. But the commitment was not met. Moreover, there is no tax on ultra-processed food and the health ministry wants to impose a 20 percent FED to discourage their use in order to save the lives of millions of people.
However, the multinational companies operating in Pakistan have been building pressure on governments during different tenures to ensure their sales continue to increase.
Briefing the media, Pakistan National Heart Association (PANAH) Secretary General and Director Operations Sanaullah Ghumman said that the health ministry was working on increasing taxes on sugary drinks and imposing taxes on ultra-processed food to save people from sugar-related and heart diseases.
The duty-free import of cotton
Despite the onset of the new cotton ginning season in mid-May, the duty-free import of cotton and cotton yarn has continued unabated, setting off alarm bells across the domestic industry.
The unchecked imports have caused widespread concern among farmers, ginners and industrialists, who fear that the entire cotton industry, including the ginning factories, is headed towards an unprecedented crisis.
According to industry estimates, during cotton season 2025-26, the ginning and textile sectors may run at less than 50 percent of their production capacity. This slowdown is not only expected to impact employment and production but also result in a surge in imports of cotton and edible oil worth billions of dollars.
SBP launches ‘Go Cashless’ campaign
The State Bank of Pakistan (SBP) has launched a nationwide “Go Cashless” campaign aimed at promoting digital payments in cattle markets ahead of Eidul Adha.
The campaign, which runs from May 19 to eve of Eidul Adha, is designed to reduce cash-based transactions and encourage the use of digital financial services for buying sacrificial animals and related expenses.
“In partnership with the banking industry, the SBP is enabling digital payment solutions in 54 designated cattle markets across the country,” the central bank said in a statement.
Digital transactions will be accepted for various services, including the purchase of livestock, payment for water, animal feed, and parking charges.