UBL and Shahzad Trade Link to promote mechanization of agriculture farms
UBL and Shahzad Trade Link (STL) have signed an agreement to promote the mechanization of agriculture farms in Pakistan. Both entities have agreed to ensure the availability of Belarus Tractors to the farmers through subsidized financing rate and quick delivery. The agreement focuses on joint sales promotion to encourage small and medium sized land holders to adopt farm mechanization solutions.
Under the Farm Mechanization scheme, UBL and STL will collaborate to provide direct agricultural loans at flat markup rate of 9.5%, with repayment spread over five years’ tenure. The partnership between the two entities will help promote the financial inclusion and boost farmer-economics in the country.
The signing ceremony, attended by Mr. Abdul Aleem Qureshi, Group Executive, Branch Banking and Mr. Shahzad Riaz – Proprietor, STL along with other senior executives from both organizations, was held at the UBL Head Office, Karachi.
Al-Ghazi Tractors supports Punjab government’s wheat growers scheme
Al-Ghazi Tractors Limited proudly participated in the historic launch of Punjab’s first-ever support scheme for wheat farmers, initiated by Chief Minister Punjab Maryam Nawaz. As part of this initiative, Al-Ghazi Tractors contributed tractors to empower farmers and enhance agricultural productivity.
The scheme, which aims to uplift wheat growers, provides 1,000 free tractors and cash grants worth Rs. 5,000 per acre, and was inaugurated during a ceremony held at the Rice Institute Kala Shah Kaku. During the event, Chief Minister Punjab Maryam Nawaz handed over a miniature NH-480 model and keys of the allocated tractor to farmers as part of the Wheat Growers Incentive Program.
The successful completion of the 1,000-tractor tender was made possible through the dedicated efforts of the management at Al-Ghazi Tractors, whose commitment was instrumental in bringing this initiative to fruition.
Al-Ghazi Tractors greatly appreciates Chief Minister Punjab Maryam Nawaz’s visionary leadership in launching this initiative. Sakib Eltaff, CEO of Al-Ghazi Tractors, while expressing his gratitude, said, “We are honored to support the Government of Punjab in this remarkable initiative. At Al-Ghazi Tractors, we are committed to empowering farmers and enhancing agricultural productivity. Collaborating with the government in this scheme aligns with our mission to support Pakistan’s farming community. We thank Chief Minister Punjab Maryam Nawaz for her leadership in this transformative effort.”
Al-Ghazi Tractors remains committed to supporting government initiatives that promote sustainable agriculture and improve farmers’ livelihoods across Pakistan. By collaborating with the Punjab Government on this scheme, Al-Ghazi Tractors reaffirms its resolve to continue being a key contributor to the agricultural sector’s progress.
SHRC to provide technical support to GTR Tyres for new tyre designs
A senior technical team of Shandong Hueshang Rubber Company (SHRC) recently visited Pakistan to discuss their plans of technical support to GTR Tyres.
According to details, the senior technical team of SHRC, which is a leading service provider in the global tyre industry and also a technology partner of GTR Tyres, had explored future collaboration with GTR in this visit.
The SHRC officials also discussed the current prevailing situation in detail and future prospects in meetings with different senior officials of GTR.
“The SHRC team decided to provide technical support to GTR for developing new tyre designs aligned with present and future needs both in passenger car radial and light truck radial categories,” said Hussain Kuli Khan, Chief Executive GTR Tyres.
Bahria session calls for reforms to boost economy
A pre-budget session titled “Shaping a Prosperous Future,” organized by Bahria Humanities and Social Science School, was held at Bahria University Karachi Campus, emphasiaing the need for Pakistan’s sustainable economic growth through fiscal discipline, governance reforms, and human capital investment.
The session, attended by Federal Minister for Investment Mr. Qaiser Ahmed Sheikh and esteemed panelists, recommended broadening the tax base, improving governance, and allocating budget shares to education and health. The session aimed to contribute to informed policy-making and shape a prosperous future for Pakistan.
Will IMF allow tax reduction on cigarettes and beverages?
The tobacco industry has placed two major demands before the government ahead of the upcoming budget: the introduction of a third tax tier with a reduced rate of Rs2,525 per 1,000 cigarette sticks, and a cut in the current federal excise duty (FED) from Rs5,050 to Rs3,800 per 1,000 sticks, learned from multiple sources.
These demands come at a time when the industry faces increasing scrutiny for alleged manipulation of production data and tax evasion. Speaking at a roundtable organised by the Sustainable Development Policy Institute (SDPI) on the tobacco industry’s tax tactics in Karachi, Muhammad Asif Iqbal from the Social Policy and Development Centre (SPDC) accused major players of distorting declared production figures to influence fiscal policies.
He revealed that although tobacco production increased by 19.2 per cent in the July-December period of the current fiscal year, compared to the same period in the previous fiscal year, the government’s revenue from FED declined by 2.4 per cent, and GST collection dropped significantly by 26.1 per cent.
According to Iqbal, illicit (non-tax-paid) trade is primarily driven by locally manufactured cigarettes, which account for 21.3 per cent of the market. Additionally, smuggled cigarettes contribute to 11.9 per cent of total cigarette consumption. These figures indicate that while illicit trade is a concern, it is significantly lower than the exaggerated claims made by the tobacco industry.
Mobilink Bank and Fatima Fertilizer partner to provide access to finance to empower agri-community
Pakistan’s largest digital microfinance institution, Mobilink Bank and Fatima Fertilizer, a leading player in Pakistan’s agricultural sector, have entered into a strategic partnership to digitally empower Pakistan’s underserved farming communities through enhanced access to finance and financial technology. The collaboration aims to uplift the country’s agri-community by digitizing the agricultural supply chain and providing targeted financial solutions through the integration of Mobilink Bank’s ‘Dost App’ and Fatima Fertilizer’s ‘Sarsabz Pakistan’ platform.
This partnership brings together two leaders in their respective sectors, with a shared commitment to transforming rural livelihoods. The alliance will unlock new opportunities for the farming community, and agri-based small and medium enterprises (SMEs) by combining Mobilink Bank’s inclusive financial products with Fatima Fertilizer’s strong grassroots presence in order to drive social mobility.
As part of this collaboration, farmers will be able to access a wide range of Mobilink Bank’s financial products and services, including agri tubewell financing, input lending, passbook financing, as well as digital banking through the seamless integration of the Dost App with the Sarsabz Pakistan platform.
In addition, the partnership will also focus on equipping farmers with essential financial literacy skills to help them make informed financial decisions. These offerings will be delivered not only through digital channels but also via on-ground engagements, including joint farmer community gatherings with Mobilink bank and Fatima Fertilizer designed to raise awareness, generate leads, and encourage the adoption of financial tools.
“Agriculture is the backbone of Pakistan’s economy, and its progress is vital to our national prosperity,” said Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank. “This strategic integration of our Dost App with the Sarsabz Pakistan App by Fatima Fertilizer is a leap toward building a future-ready, digitally inclusive agri-ecosystem. By simplifying access to finance for agri-inputs, we’re not just digitizing lending; we’re empowering farmers, strengthening rural economies, and paving the way for sustainable growth.”
Also sharing his thoughts, Asad Murad, Chief Operating Officer, Fatima Fertilizer Company Limited, added, “At Fatima Fertilizer, we are deeply committed to enhancing the lives of farmers through innovation, accessibility, and collaboration. Our partnership with Mobilink Bank reflects a shared vision to drive financial inclusion and strengthen the agricultural ecosystem. By integrating digital finance with our Sarsabz Pakistan platform, we are not only bridging critical gaps in agri-input financing but also enabling long-term socio-economic growth in rural communities.”
Mobilink Bank and Fatima Fertilizer’s joint efforts will extend beyond service delivery, contributing to broader financial inclusion goals through farmer education, digital access, and rural entrepreneurship development. The collaboration will not only empower the farmer community in the agri sector but also contribute to the Pakistan’s agri economy.
Current tax system stifling innovation and growth, warns Zahid Hussain
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister Mian Zahid Hussain, said on Tuesday that Pakistan’s current tax system stands as a formidable barrier to the economic growth, stifling innovation and entrepreneurship.
He said that taxation complexities and inefficiencies create a challenging environment for businesses, diminishing their potential to thrive and expand.
Mian Zahid Hussain said that the flawed system hinders the vibrant spirit of economic progress, leaving many opportunities untapped in a country rich with potential.
Talking to the business community, the veteran business leader said that the system is rooted in injustice and inequality and continues to fuel fiscal deficits, rising debt, and balance-of-payment crises.
The business leader said the government is under pressure from the IMF to reduce the budget deficit and achieve a primary surplus under the $7 billion loan programme.
However, he warned that the burden may again fall disproportionately on salaried individuals and the corporate sector, a fact that cannot be ignored and should be a cause for concern for all of us.
The tax target for the current fiscal year was initially set at PKR 12.9 trillion; later, it was revised downward to PKR 12.3 trillion, with a projected shortfall of up to PKR 1 trillion.
He said additional taxation seems inevitable to bridge this gap. The upcoming fiscal year’s tax target is expected to be PKR 14.3 trillion.
The IMF is pressing for more revenue in the new budget. Still, he said it remains unclear whether the government will continue taxing compliant sectors or finally act against powerful groups that have long remained outside the tax net, referring to industries such as retail, real estate, and agriculture.
Mian Zahid Hussain emphasised that if the government truly intends to relieve the public and the salaried class, it must eliminate unnecessary tax exemptions and take action against tax evaders. He also stressed the need to address losses from state-owned enterprises, power, and gas sectors, which are straining public finances.
He acknowledged that certain industrial and trade groups strongly resist current tax reform plans. However, he urged the government to engage these stakeholders through meaningful dialogue and integrate them into the tax system.
He further advocated completely digitalising all business transactions to curb tax evasion and improve compliance. This move requires the active participation of all stakeholders.
The business leader said it is time to stop repeatedly targeting the salaried class. Instead, the government must go after those who earn billions but contribute nothing to national development.
Mian Zahid observed that a fair and uniform tax policy is essential for justice and economic stability. He said that only a non-discriminatory taxation system where every citizen contributes according to their income can ensure sustainable development in Pakistan.
The SPDC’s findings challenge the narrative often used by tobacco companies that higher taxes drive consumers toward smuggled or counterfeit products. Instead, the data suggests the industry’s own practices contribute significantly to revenue losses and illicit trade.
As the budget season nears, public health advocates and fiscal experts warn that yielding to the tobacco industry’s demands could undermine both health policy goals and tax integrity. There are growing indications that the IMF may be inclined to accept the government’s proposals, a development that raises concerns about the Fund appearing to side with the tobacco industry. If any flexibility is granted, the tobacco sector could potentially gain an additional Rs10-20 billion annually, at the cost of a significantly higher health burden for the country, potentially ten times greater than the revenue benefit.
PMEX set to launch Deliverable Sugar Futures
Pakistan Mercantile Exchange (PMEX), the country’s only licensed, multi-commodity futures exchange, is preparing to launch Deliverable Sugar Futures after Securities and Exchange Commission of Pakistan (SECP) recently approved the contract – a landmark step towards improving transparency and efficiency in Pakistan’s sugar trade.
As one of Pakistan’s largest agro-based sectors, the sugar industry has long faced challenges including unregulated pricing, excessive speculation, hoarding, and supply chain inefficiencies. With the commencement of trading in Deliverable Sugar Futures at PMEX, the industry will gain access to a regulated, national platform that enables transparent price discovery, streamlined trading, effective risk management, and enhanced market documentation.
Ahead of the launch, PMEX conducted a roadshow in multiple cities including Sargodha and Lahore, the largest sugar trading hubs in Pakistan, bringing together sugar millers, brokers, traders, dealers, and large sugar buyers. These sessions offered the participants detailed orientation to the new contract specifications, live trading demonstrations, overview of the account opening process and training on how to conduct mock trading on PMEX before the contract launch.
Mr. Abdul Rehman Warraich, SECP Commissioner, and Mr. Muhammad Ajmal Bhatti, Secretary of the Price Control & Commodities Management Department, Government of Punjab, addressed the participants and commended the initiative, assuring the full support of the regulator and the provincial government respectively.
Speaking at the event, PMEX CEO Mr. Khurram Zafar highlighted the transformative potential of the initiative: “Sugar is one of Pakistan’s most traded commodities, yet it lacks structure and transparency. With Sugar Futures, PMEX is turning the tide—ushering in transparency, price stability, and a future where fair trade leads the way,” said PMEX CEO Khurram Zafar.
IMC-sponsored para-athletes shine at International Para Taekwondo Championship 2025
Indus Motor Company (IMC) proudly sponsored two young Pakistani Paralympic athletes, Abdullah Chand (aged 14) and Sualeh Baloch (aged 16), who showcased their talent and determination by winning accolades at the 2025 International Para Taekwondo Tour held in Japan and Malaysia.
Both athletes are students at the Karachi Vocational Training Centre (KVTC) and were selected to represent Pakistan by the Pakistan Para Taekwondo Wing, operating under the Pakistan Taekwondo Federation. Their inspiring performance on the international stage has brought pride to the nation and demonstrated the incredible potential of para-athletes in Pakistan.
“IMC remains committed to providing an equal playing field for all sporting professionals in Pakistan,” said Ali Asghar Jamali, CEO of Indus Motor Company. “Our conviction to support emerging athletes is rooted in our belief in creating opportunities that empower individuals to achieve excellence and bring honor to the country.”
This initiative is part of IMC’s Concern Beyond Cars program, which aims to foster inclusion and empower communities. It also reflects the company’s deep commitment to Diversity, Equity & Inclusion (DEI) and aligns with Toyota’s global philosophy that “no journey is taken alone.”
Indus Motor Company congratulates Abdullah and Sualeh on their remarkable achievements and remains steadfast in its mission to support Pakistan’s youth across all abilities and disciplines.
IBA Karachi hosts pre-budget seminar on Pakistan’s Economic Outlook 2025-26
IBA Karachi hosted a pre-budget seminar, “Pakistan Economic Outlook for Budget 2025-2026”, critically examining Pakistan’s economic landscape and the upcoming Federal Budget 2025–2026 at the Main Campus, organized by the Center for Business and Economics Research (CBER) at SESS.
Moderated by Dr. S Akbar Zaidi, Executive Director, IBA Karachi, the session featured insightful contributions from Dr. Miftah Ismail, Former Minister of Finance; Dr. Zehra Farooq, Secretary, Income Tax Policy, Federal Board of Revenue (FBR); Mr. Khurram Husain, Business & Economy Journalist, and Ms. Nadia J. Seth, General Manager, SMEDA, Ministry of Industries and Production.
Given the targets set, Dr. Ismail highlighted the challenge the government may face in meeting the revenue targets in the upcoming fiscal year. He emphasized that Pakistan already has higher tax rates than its regional counterparts. Dr. Farooq emphasized that FBR is committed to evidence-based policy making for targeted intervention to expand the tax base and ensure compliance. She stressed that citizens should pay taxes as it is their legal obligation, and documentation of the economy is fundamental.
Mr. Husain contextualized the budget within the broader political economy, warning that defense spending may command a significant share of the upcoming budget given the recent tensions with India. Lastly, Ms. Seth stressed that small and medium enterprises are the backbone of the economy and a much larger share of the informal economy.
The seminar explored pressing issues such as IMF conditions, post-Trump tariffs, climate vulnerabilities, and Pakistan’s fiscal autonomy.
Mobilink Bank named top employer in Pakistan for 2025
Pakistan’s leading digital microfinance bank, Mobilink Bank, has been certified as a Top Employer in Pakistan for 2025 by the prestigious Top Employers Institute, a global authority recognizing excellence in people practices. Mobilink Bank is Pakistan’s first and only bank to receive this prestigious certification, affirming its standing as one of the country’s most inclusive and diverse institutions.
The certification places Mobilink Bank among the most enterprising organizations that provide a thriving work culture and prioritize employee well-being and professional growth. The milestone elevates the bank as only the second OpCo within the VEON Group (after Beeline Uzbekistan) and among the top ten organizations across Pakistan to have achieved this distinction.
Mobilink Bank’s recognition stems from its pioneering initiatives that champion inclusivity and empowerment within the workplace and beyond. Its ‘MobilinkHer’ program is a dedicated women’s returnship initiative designed to reintegrate talented women into the workforce after career breaks, offering them tailored support and professional development opportunities, while ‘Humqadam’ focuses on creating a more accessible and accommodating environment for differently-abled persons. Meanwhile, the flagship Women Inspirational Network (WIN)’ actively promotes female leadership and financial inclusion through capacity building, mentorship, and outreach.
“This global recognition reflects our team’s drive to build an inclusive and empowering workplace,” said Haaris Mahmood Chaudhary, President and CEO Mobilink Bank. “Diversity and a strong organizational culture fuels innovation, and we’re proud to lead by example in Pakistan’s financial sector.”
Aleena Tanvir, Chief People Officer at Mobilink Bank, said, “At Mobilink Bank, our people are at the heart of everything we do. We are deeply committed to building a workplace rooted in inclusivity, growth, and continuous learning. Being recognized by the prestigious Top Employers Institute is a powerful affirmation of our efforts to cultivate and nurture a culture that inspires talent, drives innovation, and reinforces our position as an employer of choice.”
The Top Employers Institute Certification Program assesses companies through a detailed Best Practices Survey that looks at their people strategy, work environment, hiring practices, diversity and inclusion efforts, and employee well-being. In 2025, the Top Employers Institute certified over 2,400 organizations across 125 countries/regions, positively impacting more than 13 million employees globally. By securing the prestigious certification, Mobilink Bank has raised the industry benchmark for people-centric leadership and inclusive growth.
Indus Motor celebrates Sehrish Ali’s victory at USA Junior Women’s Squash Championship
Indus Motor Company (IMC), under its Concern Beyond Cars initiative, proudly congratulates Sehrish Ali on winning the Gold Medal in the U-15 category at the USA Junior Women’s Squash Championship.
IMC has been sponsoring Sehrish’s training and education since her impressive showing at the WSF Australian Junior Open Squash Championship earlier in April 2025, reaffirming its commitment to youth development and sports excellence in Pakistan.
Mr. Ali Asghar Jamali, CEO of IMC, stated: “Sehrish’s victory is a proud moment for Pakistan and a testament to the power of supporting young talent. IMC remains committed to empowering future champions through our Concern Beyond Cars program.”
This win adds to IMC’s growing legacy of backing young athletes, including Arshad Nadeem and Zainab Barkat, as part of its broader mission to inspire and uplift the nation’s youth.