Pakistan Produces Its First Female Ph.D. in Blue Economy
NBP Receives Approval for Commercial Launch of Raast P2M Acquiring
National Bank of Pakistan (NBP) has received approval for the commercial launch of Raast Person-to-Merchant (P2M) Acquiring, marking a major milestone in the Bank’s digital payments journey and Pakistan’s broader transition towards a cashless economy.
On this occasion, a meeting was held with representatives from NBP’s Digital Banking Group and the State Bank of Pakistan’s Digital Innovations & Settlement Department. The picture was taken with Mr.Muhammad Imaduddin, Director – Digital Innovations & Settlement Department-SBP, Mr.Muhammad Hassan Memon, Assistant Director – Digital Innovations & Settlement Department-SBP ,Mr. Adnan Nasir, Chief Digital Officer / SEVP, Digital Banking Group-NBP and Mr. Zohaib Ali Khan, Divisional Head – Acquiring & Payments-NBP.
This milestone reflects the continued guidance and support of the State Bank of Pakistan and Raast Payments Pakistan in enabling NBP to advance its digital acquiring agenda. The approval not only clears the way for commercial operations but also allows NBP to actively promote Raast P2M acquiring among merchants, customers, institutions, and government entities through structured awareness and media campaigns.
NBP remains committed to expanding digital acceptance nationwide, particularly across underserved segments, small merchants, and institutional payment ecosystems. The Bank will continue to work closely with regulators, business teams, fintech partners, and merchant communities to accelerate the adoption of digital payments under Pakistan’s cashless economy agenda.
Mobilink Bank Launches BiBi app; Advances Women’s Digital Inclusion and Social Impact
Pakistan’s leading digital microfinance Bank, Mobilink Bank, has launched the “Bibi App,” a breast cancer awareness mobile application designed to support Pakistani women through accessible and localized health information. The application has been developed by Aangan, a startup focused on women’s reproductive health and an incubatee of Mobilink Bank’s Women Inspirational Network (WIN) Incubator, the Bank’s industry-first incubation program for women-led startups.
The launch event in Islamabad brought together foreign diplomats, policymakers, healthcare experts, development stakeholders, and industry leaders in support of greater awareness around women’s health and early breast cancer detection. The collaboration marks the bank’s first dedicated health-tech initiative focused on breast cancer awareness and women’s health education.
According to health experts, 1 in 9 women in Pakistan is at risk of breast cancer. This remains the most common cancer among women in Pakistan, propelled by social stigma, limited awareness, and delayed diagnosis. The Bibi App seeks to improve access to reliable and culturally relevant information, and is designed for women aged 18-55 in urban, peri-urban, and semi-rural communities with limited access to awareness resources. The information within the app has been vetted by Shifa International Hospital.
The initiative reflects Mobilink Bank’s continued commitment to advancing women’s empowerment through inclusive and impact-driven digital innovation beyond traditional financial services. The application provides easy-to-understand information on early detection, prevention, and health awareness in both Urdu and English. By leveraging technology to improve health literacy, Mobilink Bank aims to contribute toward more inclusive support systems for women across Pakistan.
The BiBi App marks another step in Mobilink Bank’s growing push to support women-led innovation in Pakistan. Through its WIN Incubator, the Bank has already graduated 31 women-led startups, while the recently awarded National Incubation Centre in Sialkot is set to further strengthen its footprint in the country’s entrepreneurial ecosystem.
Speaking on the occasion, Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, said: “True empowerment begins with access, not just to finance, but to knowledge, care, and the enablement to make informed decisions. Through the Bibi App, we are using the power of digital innovation to break barriers around women’s health, drive greater awareness around early detection, and ensure that critical health information reaches women in a simple, accessible, and meaningful way.”
Through its WIN program, Mobilink Bank continues to support women-led innovation and scalable solutions addressing key social and economic challenges faced by women in Pakistan.
EFU Life and Discount World Forge Strategic Alliance to Elevate PRIMUS Loyalty Program
EFU Life Assurance Ltd., a leading Life and Health insurer, Family Takaful operator, and Retirement Solutions provider in the private sector of Pakistan, has formally signed a business agreement with Discount World, a premier alliance aggregator in Pakistan, marking a significant milestone in the evolution of the PRIMUS Loyalty Program.
The signing ceremony brought together senior leadership from both organizations, underscoring the mutual commitment to delivering exceptional value to EFU Life’s clientele. Present at the occasion were Ms. Aman Hussain, Head of Marketing, and Mr. Faizan Shuja, Lead – Strategic Alliances & Digital Experience at EFU Life Assurance Ltd., alongside Mr. Moiz Ali Khan, Director Business and Ms. Dania Farid, Head of Brand & Partnerships at Discount World.
This strategic collaboration marks a decisive step forward in strengthening the PRIMUS loyalty experience, reaffirming EFU Life’s commitment to bringing excellence to its clients.
Through this partnership, EFU Life PRIMUS is set to significantly expand its horizons, offering a more dynamic and refined loyalty program backed by deep industry expertise. EFU Life PRIMUS clients will gain access to an array of Pakistan’s finest brands, thoughtfully selected to elevate their everyday experiences across Food, Lifestyle, Leisure and Wellness categories.
EFU Life extended its sincere appreciation to the Discount World team for their continued support and collaborative spirit in advancing this initiative, expressing confidence that this partnership will open new opportunities of value for clients across Pakistan.
Al-Ghazi Tractors champions mechanization at the 19th Agri Asia Conference
Al-Ghazi Tractors Limited (AGTL) recently participated in the three day 19th International Agri Asia Exhibition & Conference 2026, reaffirming its longstanding commitment to advancing agricultural mechanization and supporting Pakistan’s farming community. The exhibition was recently held in Lahore and brought together key stakeholders from across Pakistan’s agriculture and livestock sectors.
As one of the country’s leading tractor manufacturers, AGTL showcased its advanced farming technologies and highlighted its continued efforts to empower farmers with reliable, efficient, and innovative mechanization solutions designed to improve agricultural yield and productivity.
A key highlight was the visit of Chief Guest Chaudhry Shafay Hussain, Punjab Minister for Industry and Commerce, and Chinese Consul General Sun Yan, to the AGTL stall. The Chief Guest appreciated AGTL’s product lineup, particularly the NH 850, and lauded the company’s efforts in advancing mechanization across Pakistan. The stall also featured a special showcase of Al-Ghazi’s 600,000th produced tractor unit, signed by the team that built it, making its first public display at the event, a moment that drew significant attention from visitors and dignitaries alike.
While speaking about this participation, Yasin Seker, CEO of Al-Ghazi Tractors Limited, said, “Agri Asia is one of the most important platforms for Pakistan’s agriculture sector and we are proud to have been part of it once again. This year was particularly special for us, having just crossed 600,000 units produced, it was a moment to celebrate with the very community we have been serving for decades. Our commitment to Pakistan’s farmers has never been stronger, and we look forward to continuing this journey together.
The exhibition served as a valuable platform for industry engagement, knowledge exchange, and showcasing emerging agricultural technologies and innovations. AGTL’s participation further reinforced its role as a trusted partner to Pakistan’s farmers and its continued focus on driving agricultural progress through mechanization.
Mian Zahid Hussain terms FBR’s draft SRO 835(I)/2026 a step toward digital transparency but warns against increasing complexity for SMEs.
The FBR recently notified the draft electronic income tax return forms for individuals, SMEs, Association of Persons (AOPs), and companies through SRO 835(I)/2026. Mian Zahid Hussain noted that these forms now require a detailed summary of economic transactions for the tax year, moving toward a system where information displayed is indicative and updated based on available records. He pointed out that although this reflects the structural impact of the FBR’s ongoing reforms, the “complicated” nature of the forms could increase the cost of compliance for the business community, particularly for those without dedicated tax departments.
Highlighting the fiscal performance of the year, Mian Zahid Hussain mentioned that the FBR tax collection rose by 10% to Rs 10.2 trillion during July-April FY26, compared with Rs 9.3 trillion in the same period last year, missing the revenue target by Rs 684 billion. He further stressed that this trajectory and meeting revenue collection targets requires a tax-filing system that is user-friendly. He urged the FBR to simplify the employer registration number requirements and property income declaration fields in the draft, as the seven-day window provided for stakeholder feedback is too narrow for a thorough review of such significant changes.
The former Provincial Minister for IT further stated that the early release of these forms suggests the FBR intends to strictly follow the July 1 to September 30 filing window for individuals and AOPs, while companies generally follow a later statutory deadline. He argued that if the forms remain unnecessarily technical, the goal of expanding the tax net—which is a key part of the fiscal reforms linked to international programs—might be compromised. He called on the FBR Chairman to take the business community into confidence and refine the SRO 835(I)/2026 draft to make it a tool for facilitation rather than a source of “cumbersome” litigation and confusion.
Mian Zahid Hussain concluded by stressing that the Chairman of the Policy Advisory Board of FPCCI and the entire business fraternity are ready to support a digital transformation, provided it is inclusive and reduces the gap between the taxpayer and the tax collector through simplified, automated solutions rather than complex multi-layered documentation requirements.
Pakistan Cables partners with Legal Aid Society to advance legal awareness and women’s empowerment
Pakistan Cables Ltd. signed a Project Agreement with the Legal Aid Society (LAS) to conduct legal awareness and capacity-building sessions for the female staff of the Company.
This collaboration aims to foster an inclusive workplace culture by educating employees on legal frameworks that protect and empower women. The initiative leverages the expertise of LAS to move beyond awareness and promote practical understanding of rights, justice, and dispute resolution.
Training fees will be channeled as a corporate donation to support LAS’s community legal clinics for marginalized women, extending the impact of the partnership beyond the workplace and into the wider community.
Pakistan Cables remains committed to promoting inclusion, wellbeing, and responsible corporate citizenship, while continuing to support initiatives that contribute meaningfully to people and communities in Pakistan.
Pakistan’s 46-month high trade deficit signals urgent need for export-led reforms: Mian Zahid Hussain.
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, expressed grave concern today over the deteriorating economic landscape of the country, marked by a historic surge in the trade deficit and mounting pressure on the balance of payments. He highlighted that the trade deficit has crossed the alarming threshold of $4 billion in April 2026, the highest level recorded in nearly four years, primarily driven by a 28 percent month-on-month surge in the import bill which has now reached $6.55 billion. Mian Zahid Hussain noted that the global oil shock, exacerbated by ongoing Middle East conflicts, has nearly tripled the country’s energy import costs, creating a situation that current demand-management tools are failing to contain.
He pointed out that while imports have ballooned, the export sector remains stagnant and capacity-constrained, with exports for April 2026 standing at $2.48 billion, rose by 14.03% YoY, showing only a marginal growth that fails to offset the massive import requirements. In the first ten months of the current fiscal year (10MFY26), the cumulative trade deficit has expanded by over 20 percent to $31.98 billion compared to $26.59 billion in the corresponding period of the previous year. He emphasized that the decline in global commodity prices, particularly in rice, and intensified regional competition have further squeezed Pakistan’s export revenues, leading to a significant widening of the current account deficit which stood at $1.17 billion in the first half of the fiscal year.
Mian Zahid Hussain further stressed that the reliance on foreign remittances is facing new threats due to geopolitical tensions and the reported expulsion of thousands of Pakistani workers from the Gulf region, which could jeopardize the vital $2.5 billion to $3.5 billion monthly inflow, vital for Pakistan’s economy. He warned that the foreign exchange reserves remain vulnerable to external pressure and the increasing cost of external debt servicing are pushing the economy toward a precarious position. He remarked that the current fiscal year’s growth projection of 3.5 percent remains under threat unless immediate and radical structural reforms are implemented to diversify the export base and reduce the heavy dependence on imported fuels.
To address these challenges, Mian Zahid Hussain proposed a multi-pronged strategy focusing on energy security and the rapid transition to renewable energy sources to slash the oil import bill. He urged the government to provide direct incentives for the textile and value-added sectors to enhance competitiveness in the global market and to aggressively pursue new markets in Central Asia and Africa. He also called for the establishment of a high-level economic task force to negotiate better terms for external debt and to ensure the protection of Pakistani laborers abroad. Mian Zahid Hussain concluded that without a shift toward an export-led growth model and a reduction in the cost of doing business, the country will continue to remain trapped in a cycle of deficits and debt.
Toyota Marks 35 Years of Manufacturing Excellence and Industry Leadership in Pakistan
Indus Motor Company (IMC) marked 35 years of Toyota’s presence in Pakistan on 15th May 2026, celebrating a legacy of manufacturing excellence, localization, and sustained contribution to the country’s automotive industry, with over 1.2 million vehicles sold nationwide since the start of operations. Today, IMC’s extensive network of dealers and suppliers supports more than 55,000 jobs across its value chain and has contributed approximately USD 6.3 billion in taxes to the national exchequer over the past three and half decades, accounting for around 1% of total government tax collections annually.
The milestone was commemorated at a ceremony held at Toyota’s manufacturing plant in Port Qasim, Karachi, attended by His Excellency Shuichi Akamatsu, Ambassador of Japan to Pakistan; Mr. Hiroshi Nambu, President, Business Planning & Operation, Toyota Motor Corporation; Mr. Masahiko Maeda, CEO, Toyota Motor Asia; Mr. Shigeru Harada, CEO Mobility Division & Growth Market Region, Toyota Tsusho Corporation; Mr. Hiroshi Yonenaga, CEO Asia Pacific Region & President, Toyota Tsusho Corporation; Mr. Mohamedali Rafiq Habib, Chairman, Indus Motor Company Limited; and Mr. Ali Asghar Jamali, Chief Executive Officer, Indus Motor Company Limited, along with 3,000 IMC employees.
Nearly three and a half decades ago, the first Toyota Corolla was rolled out, which today stands proudly at IMC’s headquarters. From an initial annual manufacturing capacity of 5,000 vehicles to 76,000 vehicles per year today, IMC has grown significantly over the past 35 years. Since its incorporation in 1989, the company has played a pivotal role in laying the foundation of Pakistan’s automotive industry and developing a strong local engineering base, leading the way in localization.
IMC’s contribution is reflected in its integrated value chain, where local part makers supply over Rs 210 million worth of parts every working day to support the production of best-in-class Toyota vehicles for Pakistan. These vehicles are distributed through a nationwide network of 58 authorized dealerships across the country.
IMC acknowledges the Government of Pakistan’s continued support over the past 35 years in enabling the growth of the automotive industry. The company appreciated its role in fostering a conducive policy environment and supporting localization and industrial development.
Addressing the ceremony, H.E. Ambassador Shuichi Akamatsu described Toyota as a symbol of the enduring partnership between Pakistan and Japan, noting that its continued investment reflects strong bilateral ties and shared economic progress.
Congratulating IMC on this milestone, Mr. Hiroshi Nambu said, Toyota’s 35-year journey in Pakistan has been built on customer trust, strong partnership, and an unwavering commitment to quality, reliability, and safety. He expressed his appreciation to all IMC employees for their dedication and pursuit of excellence, which enabled IMC to secure Zero Defect status in TMC’s quality audits for two consecutive years—an achievement that reflects IMC’s world-class manufacturing standards and its aspiration to be truly ‘Best in Town.’ He added that this commitment continues to create lasting value for customers and contributes to Pakistan’s long-term industrial progress.
Mr. Shigeru Harada commended IMC’s strong efforts in localization and technology transfer, noting that they reflect the depth of Toyota Tsusho Corporation’s long-standing partnership in Pakistan. He added that TTC will continue to support wider and deeper localization efforts, which have already helped conserve Pakistan approximately USD 6.5 billion in foreign exchange while strengthening the domestic automotive ecosystem.
Chairman IMC, Mr. Mohamedali Rafiq Habib, termed the 35-year journey a realization of a long-term vision, stating that Toyota’s investment in Pakistan has enabled the transfer of global best practices and the development of local capabilities across its dealer and supplier network.
CEO IMC, Mr. Ali Asghar Jamali, highlighted that the company has invested USD 736 million in the past 35 years, with a further USD 300 million planned over the next five years. He noted that IMC’s ecosystem continues to expand through its strong network of dealers and suppliers, while its social initiatives under “Concern Beyond Cars” benefit over 200,000 people annually. Our people are our biggest strength by far and I am very grateful and thank them for their dedication. We are surely blessed with the best people, dealers, suppliers and a powerful brand, and of course, our loyal customers whom I want to especially thank for patronizing us and our products over the years. Like we say at Toyota, we don’t make customers for life, we make customers for generations.”
He further emphasized the importance of a stable and forward-looking auto policy framework to support long-term industry growth, encourage localization of critical materials, and reduce reliance on imports while enhancing Pakistan’s industrial competitiveness.
As part of the celebrations, distinguished guests marked a landmark achievement by planting Toyota’s one millionth tree under the company’s ‘Green Pakistan’ initiative, positioning IMC as the first automotive company in Pakistan to reach this milestone within just five years. This achievement reflects Toyota’s commitment to a nature-positive future through active ecosystem restoration and environmental resilience.
Indus Motor Company was incorporated in 1989 as a joint venture between the House of Habib, Toyota Tsusho Corporation, and Toyota Motor Corporation, and is the authorized manufacturer and assembler of Toyota vehicles, parts, and accessories in Pakistan.
Mian Zahid Hussain Welcomes the Establishment of Pakistan Land Port Authority to Revolutionize Regional Commerce and Eliminate Trade Cross-Border Bottlenecks.
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 highly appreciated the operationalization of the newly established Pakistan Land Port Authority (PLPA) as a watershed moment for Pakistan’s economic integration and regional connectivity. Speaking to a gathering of top exporters and industrial leaders, the veteran business leader and former Sindh Information Technology Minister noted that the creation of the PLPA as a central inter-agency coordination statutory body fulfills a two-decade-old demand of the private sector, aligning perfectly with the country’s modern trade policy framework. Under the leadership of Lt Gen (Retd) Hassan Azhar Hayat, Managing Director of the PLPA, the authority is poised to fundamentally restructure the management of Pakistan’s external land borders, ensuring that the country’s unique geographic position is effectively leveraged to transform it into a primary regional transit corridor.
Mian Zahid Hussain highlighted that the primary objective of the authority is to streamline the movement of goods, transport vehicles, and passenger traffic across strategic border points with neighboring countries. By serving as an overarching coordinating agency for customs, immigration, and security forces, the PLPA aims to eliminate the duplicate inspections and administrative overlaps that currently inflate logistics expenses. He stressed that with financial and technical assistance from the Asian Development Bank (ADB), the authority is modernizing border infrastructure to cater efficiently to bilateral and transit trade with China, Afghanistan and onward Central Asian markets, while also strengthening Pakistan’s wider land-border trade architecture. The institutional focus on introducing cutting-edge technology at these ports is a vital step toward deterring illegal trade, formalizing economic activities, and lowering the high transaction costs that frequently penalize Pakistani exporters in international markets.
Emphasizing the commercial urgency of this reform, Mian Zahid Hussain shared crucial global trade data, stating that international indicators prove trade stabilization creates local employment and actively reduces border security expenditures. He pointed out that while only a limited share of Pakistan-China trade currently moves through the land corridor, despite the strategic importance of the Khunjerab route, the modernization of border points under the China-Pakistan Economic Corridor (CPEC) framework could significantly scale up these volumes. Furthermore, drawing on World Bank estimates, he noted that the normalization and formalization of regional trade potential could drastically expand the domestic export base, offering a lifeline to sectors such as textiles, pharmaceuticals, chemicals, and light engineering. These key industries stand to gain massive profit margins by sourcing cheaper raw materials through reliable, well-managed regional border corridors rather than depending on expensive indirect sea routes.
The business leader concluded by urging the government to provide maximum fiscal and administrative support to Managing Director General (Retired) Hassan Azhar Hayat to fast-track the development of warehousing, cold chain storage, and high-speed logistics terminals at key ADB-supported border points such as Torkham, Chaman and Wagha. Mian Zahid Hussain reiterated that regional connectivity is no longer a luxury but an absolute structural requirement for national economic survival. By turning unpredictable and insecure border crossings into highly efficient, digitized commercial hubs, the Pakistan Land Port Authority will not only build immense investor confidence but also secure a sustainable path toward export-led growth, economic stability, and localized prosperity for the long-marginalized border populations of the country.
Bangladeshi University Leaders Visit LUMS to Strengthen Regional Academic Linkages
A high-level delegation of academic leaders from Bangladesh visited LUMS to explore opportunities for deeper regional collaboration in higher education, research, and academic exchange.
Led by Prof. Dr. Mamun Ahmed, Chairman, University Grants Commission (UGC) Bangladesh, and facilitated by the Higher Education Commission (HEC), Pakistan, the visit brought together Vice Chancellors from leading public and private universities in Bangladesh, along with senior officials from UGC Bangladesh. The visit builds on LUMS’ growing academic ties in the country, including its participation in HEC Expos held in Dhaka, Barishal, Rajshahi, Sylhet and Chittagong; a recently signed MoU with North South University; and ongoing collaboration with the University of Chittagong.
In a meeting with LUMS Vice Chancellor Dr. Ali Cheema, Provost, Dr. Tariq Jadoon, deans, and faculty, discussions focused on the importance of deepening academic linkages by building on shared histories while learning from distinct national contexts. Participants explored opportunities to advance these objectives through research collaboration, student and faculty exchange, executive education, legal education, and joint academic initiatives.
Prof. Dr. Mamun Ahmed thanked the LUMS leadership for their warm hospitality and described the visit as an important platform for dialogue and knowledge sharing. He emphasised that higher education institutions cannot thrive in isolation and that deeper collaboration between Bangladesh and Pakistan can help strengthen academic excellence, institutional capacity, and opportunities for students.