Al Baraka Bank (Pakistan) Limited Launched Digital Hub and Digital Auto Finance
Al Baraka Bank (Pakistan) Limited (ABPL), marked a significant milestone in its Digital Transformation Journey with the inauguration of its Digital Hub (Design Lab) and Digital Auto Finance, reinforcing the Bank’s commitment to innovation, customer convenience, digital transformation and Shariah-compliant financial solutions.
The inauguration ceremony was attended by Syed Sohail Javaad- Executive Director, (Digital Financial Services Group), State Bank of Pakistan, Mr. Muhammad Atif Hanif – CEO, Al Baraka Bank (Pakistan) Limited, Senior Management of the Bank and esteemed guests from SBP, Business, Academia, Technology and Financial Industry including Mr. Faisal Mazhar – Head of Innovation Division, State Bank of Pakistan, Mr. Najeeb Agrawalla – CEO, 1Link, Mr. Omer Ahmed Khan, CEO – Avanza Solutions and Mr. Umar Ahsan Khan – CEO, Dawlance, Mr. Naveed Sharif, CEO Unikrew Solutions, Mr. Muhammad Mairaj Yousuf, GM Systems Limited, Ms. Lubna Ahmed, Director Industry Relations Habib University, and Mr. Muhammad Qaiser, Financial Controller Master Changan Motors.
The Digital Hub is designed to serve as a centralized ecosystem for collaboration across digital innovation, design and transformation, enabling the bank to deliver enhanced customer experiences, faster service delivery, and seamless access to the Bank’s growing portfolio of digital Islamic banking products.
LRBT hosts 9th Golf Tournament, celebrates 40 years of restoring sight
The Layton Rahmatulla Benevolent Trust (LRBT) hosted its 9th LRBT Golf Tournament, at the prestigious Karachi Golf Club, bringing together corporate leaders, golfing enthusiasts, and philanthropists in support of sight restoration. This year’s tournament held added significance as LRBT marks 40 years of restoring sight and transforming lives across Pakistan.
The event was graced by Mr. Faisal Farooq Khan, Chief Human Resources Officer, Bank Alfalah, as the Chief Guest. A longstanding partner of LRBT, Bank Alfalah continues to support the organization’s mission to eliminate curable blindness. The tournament saw enthusiastic participation from 32 teams, representing financial institutions, corporate organizations, and business houses, all contributing generously to LRBT’s cause.
Now in its ninth consecutive year, the LRBT Golf Tournament has become a valued annual fundraising platform, generating vital resources to support LRBT’s nationwide network of 20 hospitals and 63 primary eye care clinics. Through these facilities, LRBT provides free eye care services to marginalized communities, ensuring that no man, woman, or child is deprived of sight due to financial constraints.
Addressing the gathering during the closing ceremony, Mr. Salim Raza, Trustee, LRBT, expressed his gratitude to the participants and supporters for their continued commitment. He shared that proceeds from the tournament will help restore sight to over 5,000 underprivileged patients, enabling them to regain independence and lead productive lives.
Chief Guest Mr. Faisal Farooq Khan commended LRBT’s four-decade legacy of service and highlighted the organization’s transformative impact on eye care accessibility in Pakistan. He reaffirmed Bank Alfalah’s pride in supporting LRBT’s mission and emphasized the importance of sustained partnerships in creating a more inclusive and hopeful future. Mr. Khan later participated in the prize distribution ceremony, recognizing the winning teams for their outstanding performances.
The Karachi Golf Club Team emerged as champions of the 9th LRBT Golf Tournament, while a Bank Alfalah Team secured the runner-up position, reflecting the spirit of sportsmanship and collaboration that defined the event.
LRBT extends heartfelt appreciation to all participants, sponsors, and supporters who contributed to the success of the tournament. The funds raised will directly support LRBT’s mission of eradicating preventable blindness and continuing its 40-year legacy of restoring sight and transforming lives.
Mian Zahid Hussain calls for sustainable growth in 2026
Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, as well as Chairman of the National Business Group Pakistan and FPCCI Policy Advisory Board, stated during a year-end review that 2025 was a year of significant progress in macroeconomic stability for Pakistan. He noted that the stock market index witnessed a record 52% increase this year, rising from 115,000 to 174,000 points. However, he cautioned that high production costs, stagnant exports, and security concerns continue to serve as major hurdles to the nation’s progress.
The former provincial minister highlighted that inflation, which had previously reached 38%, has dropped to 6.1% as of November, 2025 due to the State Bank of Pakistan’s strict monetary policies. He observed that the Federal Board of Revenue is making progress toward its tax target of 14.13 trillion PKR for the 2025-26 fiscal year despite facing extraordinary pressure.
Furthermore, foreign exchange reserves reached 16 billion USD, supported by timely IMF tranches and rollovers from friendly countries, while foreign direct investment fell by 25% to roughly one billion USD in July-November of FY26 despite best efforts of the Special Investment Facilitation Council (SIFC).
Regarding the industrial landscape, Mian Zahid Hussain warned that electricity rates exceeding 35 PKR per unit and high policy rate @10.5% have made the cost of doing business in Pakistan the highest in the region. While he lauded the successful privatization of PIA as a positive step, he expressed concern over the delays in the privatization of power distribution companies. He noted, however, that the Privatization Commission’s shortlisting of international investors for various state-owned enterprises remains a vital step forward.
On the social front, he expressed deep concern that poverty has reached approximately 44% and youth unemployment stands at 7.1%. With GDP growth expected to remain between 3% and 3.6%, he emphasized that poverty and unemployment will continue to be significant challenges. Conversely, he pointed to workers’ remittances as a major economic pillar, expected to exceed 38 billion USD or 11 trillion PKR by the end of the fiscal year, which will help manage the current account deficit and mitigate poverty.
Discussing regional security, he mentioned that while Pakistan’s global prestige was raised by a robust win of a brief war with India in May 2025 and the effective military strategy of Field Marshal Asim Munir, the resurgence of terrorism and border tensions have negatively impacted investor confidence. He stressed that economic prosperity is fundamentally dependent on internal security and regional peace. For the upcoming year, he identified the completion of the second phase of CPEC and the expansion of the export base as essential requirements for the country.
Mian Zahid Hussain concluded that the primary challenge for 2026 is transitioning from mere stability to sustainable development. He urged the government to prioritize a significant reduction in energy prices to 9 cents per unit, the revival of the industrial sector, the inclusion of the agricultural and retail sectors in the tax net, and the overall digitalization of the economy. He assured that the business community would continue to fully support all positive government initiatives aimed at achieving a stable and prosperous Pakistan in 2026.
GTR Tyre hosts drive to excellence awards 2025 to honor top dealers
GTR Tyre proudly hosted the Drive to Excellence Awards 2025 at the local hotel, honoring exceptional performance and long-standing commitment across its nationwide dealer network. The award ceremony, held on 15th December, brought together leading dealers of GTR Tyre products from all parts of Pakistan in an inspiring and professionally organized setting.
The event was designed to recognize dealers who demonstrated outstanding dedication, strong business performance, and a consistent focus on quality and customer satisfaction. Hussain Kuli Khan, Chief Executive Officer of GTR Tyre appreciated the vital role played by dealers in strengthening the brand’s market presence and building trust with customers nationwide. Their contributions were highlighted as a key factor behind the company’s continued growth and success.
Following the awards, guests enjoyed a warm and celebratory gathering that encouraged networking and closer collaboration among industry partners. The evening became even more memorable with a special musical performance by renowned singer Naeem Abbas Rufi, who enthralled the audience with his live show and added energy to the celebrations.
The Drive to Excellence Awards 2025 once again reflected GTR Tyre’s commitment to recognizing success, strengthening partnerships, and motivating its dealer network to achieve even greater milestones in the future.
Jubilee Life kicks off grassroot football revolution with Karachi United
Jubilee Life Insurance, Pakistan’s leading life insurer, has signed on as the Title Sponsor of the 21st Karachi United School Championship (KUSC). The collaboration reflects a shared commitment to nurturing young talent, promoting healthy lifestyles, and ensuring to strengthen a bottom-up approach for sports across the country.
Recognised as one of Karachi’s longest-running and most inclusive school football tournaments, KUSC provides a structured platform for students from diverse backgrounds to engage in sport, develop discipline, teamwork, and confidence, and build lifelong healthy habits. Through this partnership, Jubilee Life aims to play a meaningful role in supporting youth development while encouraging physical activity from an early age. The partnership with Karachi United strengthens this commitment at the fundamental level, where sustained, long-term impact is created.
Mr. Farhan Faridi – Group Head Retail Operations, Marketing & Administration commenting on the collaboration: “At Jubilee Life, we view sport as a powerful enabler of physical well-being, social inclusion, and youth empowerment. This partnership with KUSC reflects our broader commitment to building healthier, more active communities across Pakistan. From supporting national platforms such as the HBL PSL, which are helping revive sporting culture and bringing international players back to Pakistani grounds, to investing in grassroot initiatives, our focus remains on creating sustainable, community-wide impact through sport.”
Sharing his views on the partnership, Mr. Ali Atta Director Football said: “Karachi United has always believed in using football as a platform for inclusion and positive social change. This partnership with Jubilee Life strengthens our ability to provide opportunities for children from diverse income groups and backgrounds. As we look ahead, our ambition is to take the Karachi United School Championship to the national level, creating a pathway for young talent and expanding the tournament’s impact across Pakistan.”
Through this collaboration, Jubilee Life and Karachi United aim to create a sustainable ecosystem for school-level football by providing young athletes with access to structured competition, professional exposure, and long-term development opportunities. As the championship continues to grow, the partnership seeks to contribute to a stronger pipeline of talent while reinforcing the importance of sport in shaping confident, disciplined, and healthy future generations.
VEON Group invests $20 million in Mobilink Bank to accelerate digital Islamic banking expansion
Global digital operator VEON Group has announced an investment of USD 20 million in Mobilink Bank to support its growth and digital Islamic banking expansion in Pakistan. The investment builds on USD 15 million capital deployed by VEON in January 2025 and underscores its confidence in Mobilink Bank’s growth momentum and its integrated digital financial ecosystem with JazzCash, amid the rapid expansion of Pakistan’s digital banking and microfinance sector.
Mobilink Bank is a part of VEON Group, a global digital operator that provides services to over 150 million connectivity customers and over 140 million monthly active digital users. VEON Group (Nasdaq: VEON) is a Nasdaq-listed company that operates across five countries that are home to more than 6% of the world’s population.
The capital will be used to scale Mobilink Bank’s MSME financing portfolio, advance its Islamic banking offerings, and strengthen its evolution into a technology-driven, digitally native bank, with a continued focus on expanding regulated financial access for underserved communities, particularly small businesses and women.
The investment reflects VEON Group’s broader digital strategy of strengthening high-impact financial ecosystems through technology-led solutions and disciplined capital deployment, positioning Mobilink Bank as a key contributor to Pakistan’s evolving financial sector.
Commenting on the development, VEON Group Executive Committee Member and Chairman Mobilink Bank, Aamir Ibrahim, said: “This continued stream of investment from VEON underscores our long-term commitment to Pakistan and confidence in the structural shift underway in the country’s digital financial services ecosystem. It strengthens Mobilink Bank and JazzCash’s ability to execute on our strategic priorities, invest in resilient technology infrastructure, and contribute to the development of inclusive and sustainable digital banking.”
Haaris Mahmood Chaudhary, President and CEO Mobilink Bank, added: “This investment will accelerate the expansion of our shariah-compliant Islamic banking offerings, helping small businesses formalize cash flows, access regulated credit, and build long-term financial resilience. As a future-ready digital bank, our focus remains on delivering practical, technology-enabled financial solutions that empower entrepreneurs – particularly women and underserved communities – across Pakistan.”
Mobilink Bank’s expanding deposit base and MSME-oriented lending portfolio are enabling small businesses to transition from informal cash usage to regulated banking, while targeted women-centric financial products and green financing initiatives support inclusive growth and resilience in the face of Pakistan’s climate and economic challenges.
Mobilink Bank, together with JazzCash, which serves over 57 million customers and is supported by a nationwide network of more than one million merchants and agents, anchors one of Pakistan’s largest digital financial ecosystems. During the year, JazzCash processed gross transaction value exceeding PKR 15 trillion, underscoring the scale, resilience, and impact of fintech in advancing financial inclusion, social mobility, and responsible digital innovation across Pakistan.
Mian Zahid outlines fiscal discipline, high-growth sectors and industrial revival for 2026
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, has lauded the Ministry of Finance’s “Monthly Economic Update and Outlook” for December 2025 as a reflection of emerging stability.
Mian Zahid Hussain noted that the primary surplus reported by the Ministry of Finance demonstrates a disciplined approach to fiscal management that must be sustained throughout the new year.
He emphasized that while the macro-indicators are improving, the transition into 2026 brings a unique set of potential and challenges for Pakistan that require a proactive and cohesive national strategy.
Commenting on the latest figures from the Pakistan Bureau of Statistics and the State Bank of Pakistan, Mian Zahid Hussain pointed out that the steady decline in inflation during the final quarter of 2025 has made a case to cut the policy rate by at least 2% to provide much-needed relief to the industrial sector.
He observed that the narrowing of the current account deficit is a significant achievement, yet he cautioned that foreign exchange reserves must be bolstered through increased exports rather than a continued reliance on external borrowing and workers’ remittances.
He suggested that the government must capitalize on the potential of the year 2026 by focusing on high-growth sectors such as information technology and value-added textiles. He urged for the quick sale of loss-making state-owned enterprises, following the privatization of PIA, to reduce the fiscal burden on the national treasury, noting that the resources saved could be better utilized for infrastructure development and social safety nets.
Furthermore, Mian Zahid Hussain addressed the challenges for 2026, specifically highlighting the persistent issue of circular debt in the energy sector as a primary hurdle to industrial competitiveness.
He stated that reliable and affordable energy is the backbone of any economic recovery and called for comprehensive reforms in power distribution companies to reduce line losses. He also touched upon the salient points of Pakistan’s economic progress, noting that the Special Investment Facilitation Council (SIFC) is playing a pivotal role in attracting foreign direct investment from brotherly countries. He believes that by streamlining the “Ease of Doing Business” and ensuring policy consistency, Pakistan can achieve a higher GDP growth rate in the coming fiscal cycles.
In his concluding remarks, Mian Zahid Hussain reiterated that the business community remains committed to supporting the government’s economic agenda, provided that the tax net is broadened fairly without over-burdening existing taxpayers. He stressed that the statistics from international institutions and relevant government sources indicate a path toward recovery, but this path is contingent upon the continuation of structural reforms.
By addressing the challenges of 2026 with the same vigor seen in fiscal consolidation efforts during late 2025, he expressed confidence that Pakistan can transition from a state of stabilization to one of sustainable long-term growth.
Illegal Cigarette Networks Shift Tactics Faster Than Enforcement
Pakistan’s efforts to curb illicit cigarette trade continue to face new challenges as illegal manufacturers and distributors rapidly adapt to enforcement measures, creating a “moving target” for authorities. Despite recent policy improvements and ongoing digital reforms, the black market remains resilient, finding new ways to bypass taxation and monitoring systems.
Economic analysts note that as authorities intensify checks on licensed factories and enhance tax monitoring tools, illicit operators often relocate production, adjust supply routes, and flood markets with cheaper non-tax-paid products. This shifting landscape is contributing to an annual revenue loss estimated at over Rs 415 billion, weakening the country’s fiscal stability and deepening the unfair competition faced by tax-compliant businesses.
A macroeconomic expert, Osama Siddiqui said, “Illicit trade evolves faster than enforcement. The moment one loophole is addressed, operators find another. Unless Pakistan strengthens intelligence-led monitoring and targets the full supply chain, the problem will continue to outpace policy.”
In recent months, authorities have seized counterfeit tax stamps, undeclared tobacco stock, and smuggled raw materials entering the country through informal channels, clear signs of how adaptable illicit networks have become. These products then move into markets where they are sold openly, often below the legal price threshold, making legal brands uncompetitive.
Experts warn that the lack of coordinated, end-to-end enforcement enables illicit operators to regroup quickly after raids. Strengthening surveillance of raw material imports, auditing transport networks, and improving inter-agency collaboration are seen as crucial steps to disrupt these networks rather than merely displacing them.
“While digital monitoring tools such as track-and-trace and factory surveillance are important, Pakistan must also invest in intelligence, ground enforcement, and consistent market checks to prevent illicit products from circulating freely.” he said.
As Pakistan works to stabilize its economy, tackling illicit cigarette trade remains one of the most immediate opportunities to recover billions in lost revenue while supporting a fair marketplace. Ensuring that enforcement is proactive, coordinated, and future-ready will be key to outpacing a trade that has long operated in the shadows.
Cement despatches marginally up by 1.47%
Cement despatches showed slight growth by 1.47% in Dec-25. Total Cement despatches during Dec-25 were 4.347 million tons against 4.284 million tons despatched during the same month of last fiscal year.
According to the data released by All Pakistan Cement Manufacturers Association, local cement despatches by the industry during the month of Dec-25 were 3.725 million tons compared to 3.5 million tons in Dec-24, showing an increase of 6.42%. Exports despatches continued downward trend and dropped by 20.66% during Dec-25. Volumes reduced from 783,550 tons in Dec-24 to 621,685 tons in Dec-25.
In Dec-25 North based cement mills despatched 3.153 million tons cement showing an increase of 5.56% against 2.987 million tons despatches in Dec-24. South based mills despatched 1.19 million tons cement during Dec-25 that was 7.94% less compared to the despatches of 1.29 million tons during Dec-24.
North based cement mills despatched 3.153 million tons cement in domestic markets in Dec-25 showing an increase of 9.75% against 2.873 million tons despatches in Dec-24. South based mills despatched 572,263 tons cement in local markets during Dec-25 that was 8.81% less compared to the despatches of 627,519 tons during Dec-24.
Exports from South reduced by 7.14% to 621,685 tons in Dec-25 from 669,461 tons during the same month last year. There were no exports from North based mills in Dec-25.
During the first six months of current fiscal year, total cement despatches (domestic and exports) were 25.783 million tons that is 9.67% higher than 23.510 million tons despatched during the corresponding period of last fiscal year. Domestic despatches during this period were 21.152 million tons against 18.7 million tons during same period last year showing an increase of 13.11%. Export despatches were 3.73% less as the volumes reduced to 4.631 million tons during the first six months of current fiscal year compared to 4.81 million tons exports done during same period of last fiscal year.
North based Mills despatched 17.915 million tons cement domestically during the first six months of current fiscal year showing an increase of 14.67% than cement despatches of 15.623 million tons during July-Dec 24. Exports from North declined by 18.53% percent to 808,506 tons during July-Dec 25 compared with 992,413 tons exported during the same period last year. Total despatches by North based Mills increased by 12.68% to 18.723 million tons during first six months of current financial year from 16.616 million tons during same period of last financial year.
Domestic despatches by South based Mills during July-Dec 25were 3.237 million tons showing an increase of 5.22% over 3.077 million tons cement despatched during the same period of last fiscal year. Exports from South were almost flat at 3.822 million tons during July-Dec 25 compared with 3.818 million tons exported during the same period last year. Total despatches by South based Mills increased by 2.39% to 7.059 million tons during first six months of current financial year from 6.894 million tons during same period of last financial year.
Mian Zahid Hussain urges ‘Green Energy Zones’ to safeguard exports
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum & All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, said on January 5 that while the government’s accelerated privatization drive is a commendable step toward economic stabilization, the country’s industrial base faces an immediate and severe challenge from the European Union’s newly implemented carbon regulations. Speaking to the business community, he welcomed the Privatization Commission’s decision to issue Expressions of Interest for the profitable power distribution companies IESCO, FESCO, and GEPCO this month, noting that this move will finally stem the hemorrhaging of national resources.
Mian Zahid Hussain said that the reported interest from foreign consortiums, particularly Turkish investors advised by Raiffeisen Investment, validates the improved investment climate in Pakistan. He added that expanding the privatization active list to include Saindak Metals, Pakistan Mineral Development Corporation, and the National Insurance Company Limited is a strategic decision that will unlock the true potential of these underperforming assets. However, he cautioned that these gains could be neutralized if the country’s export sector fails to adapt to the “definitive regime” of the EU’s Carbon Border Adjustment Mechanism (CBAM), which officially came into force on January 1, 2026.
The veteran business leader warned that while the privatization of DISCOs will improve energy management in the long run, Karachi’s exporters are facing an immediate crisis today. European buyers have effectively begun demanding “Carbon Passports” from Pakistani suppliers to future-proof their supply chains against the new levies. He highlighted that Karachi’s industrial hubs, including Korangi and SITE, are particularly vulnerable because many units rely on captive power generation using gas or furnace oil. Under the new EU rules, these energy sources carry a high “carbon intensity” rating, which could make Pakistani goods prohibitively expensive compared to competitors in Vietnam or Bangladesh who utilize greener grid electricity.
Mian Zahid Hussain proposed an urgent solution, calling on the Ministry of Energy and K-Electric to immediately designate specific industrial feeders as “Green Energy Zones.” He explained that by certifying that electricity supplied to these zones comes from renewable sources like hydro, wind, or solar, the government can allow exporters to claim near-zero emissions for their products without needing to install individual solar plants. He stressed that without verified emission data, EU authorities will apply punitive “default values” to Pakistani exports, which would be disastrous for the textile and manufacturing sectors.
He concluded that while shedding state-owned losses through privatization is essential for fiscal health, protecting the export lifeline requires immediate regulatory innovation. He urged the government to prioritize the “Green Grid” certification to ensure that Pakistan’s hard-won export orders are not lost to carbon taxes in the European market.