DIB Pakistan’s New Brand Identity, Signals the Next Phase of Purpose-Driven Growth
The DIB Pakistan’s new identity signals the next phase of purpose-driven, ethical banking in Pakistan.
DIB Pakistan unveiled its new global brand identity across many branch locations nationwide, marking two decades of service in Pakistan, embracing a bold, purpose-driven new chapter. The transformation reflects the Bank’s commitment to carrying forward the legacy of DIB (UAE), which has pioneered Islamic banking for over 50 years, while reinforcing its vision for the future as the most progressive Islamic financial institution in the world.
The new logo combines a distinctive DIB wordmark with the “Globus” symbol, bringing to life a modern vision of global Islamic banking. At its heart is a vibrant three-dimensional globe encircled by a radiant Islamic arabesque pattern, symbolizing the Bank’s rich Islamic heritage and global outlook. The green and gold elements reflect enduring values and tradition, while the bold burgundy core represents DIB’s passion for delivering innovative products and solutions that create lasting value for its customers.
Muhammad Ali Gulfaraz, Chief Executive Officer, DIB Pakistan, expressed his enthusiasm for the rebranding, stating, “The rebranding is anchored in our belief that Progress Never Stops. It is a purposeful expression of growth, resilience, and forward momentum, reflecting the broader significance of DIB Pakistan’s renewed strategic direction. This transformation reinforces our commitment to strengthening and expanding our presence across the country. Through continued investment in technology and innovation, we aim to advance financial inclusion and contribute to the prosperity of the communities we serve.”
Complementing the new branding, now visible at Jinnah International Airport, and many branch locations nationwide, the Bank has also redesigned the mobile banking app and has gone live delivering seamless digital experiences at customers’ fingertips.
Guided by its enduring commitment to ethical banking, customer-centricity, and sustainable progress, DIB, as a leading bank from UAE, steps into its next chapter as an ethical, trust-led, digitally empowered institution, with conviction that it will always aim to provide innovative banking solutions for its valuable customers.
National Bank of Pakistan Signs MoU with Charter for Compassion Pakistan to Strengthen Employee Mental Health & Well-being Support
The National Bank of Pakistan (NBP) has signed a Memorandum of Understanding (MoU) with Charter for Compassion Pakistan, under its employee wellness initiative, NBP Wellness First 2.0.
The collaboration aims to strengthen mental health awareness and improve access to professional well-being support for NBP employees and their dependents through structured engagement and consultation services.
Under this partnership, employees will benefit from a series of nationwide virtual awareness sessions focused on stress management, emotional resilience, mental well-being, anxiety management, healthy boundaries, and sustainable self-care practices.
In addition, employees and their dependents will also have access to confidential tele-consultation and physical consultation support through qualified mental health professionals associated with Charter for Compassion Pakistan.
The MoU signing ceremony was attended by representatives from both organizations, reaffirming a shared commitment towards promoting emotional well-being, healthier workplace practices, and a more supportive work environment.
Through NBP Wellness First 2.0, NBP aims to encourage awareness, balance, and accessibility to support systems that contribute towards a healthier and more resilient workforce.
Nutshell, M&P Strengthen THE GLOBAL CONNECT
Nutshell Group has strengthened THE GLOBAL CONNECT, its flagship global thought leadership and economic cooperation platform, through a new strategic partnership with M&P Group. The announcement was made at the MOSAIC FORUM in Cairo, where global and regional leaders gathered to discuss investment, policy, public affairs, and regional collaboration.
Launched in February 2026 by Nutshell Group, THE GLOBAL CONNECT was established to convene decision makers from emerging and frontier economies and translate dialogue into actionable strategy, durable partnerships, and stronger global influence. The platform brings together policymakers, global CEOs, regulators, investors, and technology leaders to generate practical insights and drive sustainable impact.
With M&P Group joining the initiative, THE GLOBAL CONNECT is further positioned to expand its international network, deepen cross-border engagement, and broaden its footprint across the Middle East, Africa, and other emerging regions.
“THE GLOBAL CONNECT was built to turn conversations into action,” said Muhammad Azfar Ahsan, Founder & Chairman, Nutshell Group. “With M&P Group’s partnership, we are strengthening pathways for investment, business cooperation, and policy dialogue across regions shaping the future of the global economy.”
The collaboration also builds on VEON’s “Invest in Pakistan” initiative, aimed at positioning Pakistan as a compelling destination for digital investment and long-term growth.
The strengthened partnership will focus on building investment linkages across high-potential markets, advancing cooperation in digital, energy, technology, and infrastructure sectors, enhancing cross-border policy dialogue to support economic diplomacy, and facilitating leadership exchanges and delegations across the Middle East, Africa, and beyond.
“M&P Group is pleased to strengthen THE GLOBAL CONNECT by joining this important initiative,” said Mustafa Moharram, Chairman, M&P Group. “Together, we aim to unlock new opportunities for investors, entrepreneurs, and policymakers across multiple regions.”
The first edition of THE GLOBAL CONNECT will be held in Islamabad later this year, bringing together leaders from over 30 countries to focus on emerging markets, cross-border collaboration, and sustainable growth strategies. This will be followed by global gatherings in Riyadh, Abu Dhabi, New York, London, Hong Kong, Istanbul, and Cairo.
Rs 12 Trillion Cash Economy must be Brought Into Tax Net for Sustainable Growth: MZH
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum (PBIF) & All Karachi Industrial Alliance (AKIA), Chairman National Business Group Pakistan (NBG), Chairman FPCCI Policy Advisory Board and Former Provincial Minister of Information Technology, stated that Pakistan’s economy is now at a crucial milestone from where sustainable economic development is possible. He noted that according to the recently released economic survey, average inflation over the past 11 months has dropped to 6.7 percent, while the dollar exchange rate has remained stable at the Rs 280 level for the last three years. The central bank has significantly reduced the interest rate, bringing it down from 22 percent to 11.5 percent. Furthermore, foreign exchange reserves are at a four-year high, and remittances are expected to reach a record $42 billion by the end of the current fiscal year. In addition, Pakistan has successfully re-entered the international Eurobond market after a long gap of four years.
Mian Zahid Hussain said that the dark side of the economic situation is that exports have been stuck between $25 billion and $30 billion for the past 20 years, causing the export-to-GDP ratio to decline from 16 percent to 10 percent. The investment climate is also unsatisfactory, as Foreign Direct Investment (FDI) recorded a significant decline of 31 percent during the first ten months of the current fiscal year. The unemployment rate in the country has reached 7.1 percent, meaning approximately 5.9 million Pakistanis are jobless. Furthermore, the savings rate is at a three-decade low, with citizens able to save only 6 percent of their income.
Mian Zahid Hussain further added that the government has attempted to provide some relief in the recent budget, which includes corporate tax relief and extending the income tax exemption on IT exports for another three years. However, economic experts and industrialists believe that these measures alone will not achieve the desired targets. The country’s Rs 12 trillion cash economy is a massive challenge, from which a conservative estimate suggests Rs 4 trillion in sales and income tax could be extracted. According to the FBR, untaxed transactions worth Rs 7.1 trillion have been identified which may be brought into the tax net through digitization. He pointed out that the minimum tax rate on turnover for exporters has been increased from 1 percent to 1.25 percent, while the corporate tax rate stands at 29 percent, which is much higher compared to other countries such as Turkey (9 percent), Bangladesh (10-12 percent), Sri Lanka (15 percent), and Vietnam (20 percent).
Mian Zahid Hussain emphasized that for the future, it is imperative that the government adopts a 3 to 5-year long-term economic vision and creates consistency in economic policies across year-to-year budgeting. Economic development requires at least a 5 to 6 percent growth rate and a 20 percent savings rate. Pakistan’s position in human development indicators (HDI 0.544) is among the lowest in the world (ranking between 168 and 193), making long-term reforms in the health and education sectors absolutely inevitable. The government must bring the undocumented economy into the tax net to reduce the burden on taxpayers, especially the salaried class and the documented corporate sector, and simultaneously cut government expenditures, including the implementation of pension reforms. Export-led growth is the only path to sustainable development, and providing a favorable environment for industrialists must be the government’s top priority.
Ignite and Mobilink Bank Partner to Establish National Incubation Center Sialkot
Ignite, operating under the Ministry of IT and Telecom (MoITT), has signed an agreement with the Mobilink Bank led consortium which includes CyberVision International, to establish and operate the National Incubation Center (NIC) Sialkot, further strengthening Pakistan’s innovation and entrepreneurship ecosystem.
The partnership aims to create a dedicated platform for technology driven startups and innovative ventures in Sialkot, one of Pakistan’s leading industrial and export hubs.
The signing ceremony took place at the Ministry of IT and Telecommunication offices in Islamabad and was attended by senior Ministry officials, Ignite and Mobilink Bank representatives.
Speaking on the occasion, Federal Minister for Information Technology and Telecommunication, Ms. Shaza Fatima Khawaja, said:
“The establishment of NIC Sialkot reflects the Prime Minister, Shehbaz Sharif’s Digital National Pakistan vision. The government is fully commitment to nurturing innovation and digital entrepreneurship across Pakistan by equipping young entrepreneurs with the right resources and opportunities.”
Renowned globally for its sports goods, surgical instruments, leather products, and musical instruments industries, Sialkot has emerged as a growing center for e-commerce and digital exports. NIC Sialkot will strengthen this entrepreneurial strength by supporting up to 25 startups annually through mentorship, business development services, investor linkages, market access opportunities, and networking support. The establishment of NIC Sialkot aligns with the government’s vision of expanding innovation infrastructure beyond major metropolitan centers, creating new opportunities for entrepreneurship, technology adoption, employment generation, and export growth across Pakistan.
CEO Ignite Mr. Muhammad Bilal Abbasi stated:
“NIC Sialkot is another important milestone in Ignite’s mission to strengthen Pakistan’s startup ecosystem. The centre will help entrepreneurs transform innovative ideas into scalable businesses while promoting technology adoption, industrial productivity and export competitiveness.”
The National Incubation Centre (NIC) Sialkot, is aimed at empowering local entrepreneurs to build globally competitive companies. Applications for the inaugural Cohort 1 incubation programme are also officially open. To apply visit the website of NIC Sialkot. https://www.nicsialkot.com
President and CEO Mobilink Bank, Mr. Haaris Mahmood Chaudhary said:
Pakistan’s economic resilience demands broad-based participation — not growth concentrated in a few cities, but opportunity extended to small enterprises across the country. At Mobilink Bank, we believe innovation must be accessible, inclusive, and rooted in local business realities. Through NIC Sialkot, we are equipping entrepreneurs with mentorship, digital tools, financial solutions, and market access to scale with confidence.”
While open to startups from all sectors, NIC Sialkot will particularly support ventures aligned with the city’s industrial strengths, including sports technologies, healthcare and surgical technologies, manufacturing innovation, e commerce, export enabling solutions, and emerging digital industries.
The center will also encourage innovation in high growth areas such as Artificial Intelligence, Industry 4.0, advanced manufacturing, smart supply chains, health technologies, and digital commerce.
The National Incubation Center (NIC) is Pakistan’s premier technology incubation and acceleration initiative and is funded by the Ministry of IT and Telecommunication and Ignite National Technology Fund. NICs operate a nationwide network with seven distinct regional centers across major cities, each partnering with top-tier private industry leaders, academia, and global accelerators.
Wafi Energy joins emergency responders in multi-agency mega drill to strengthen road safety
Wafi Energy Pakistan Limited, in collaboration with, National Highway Motorway Police (NHMP), Rescue 1122, Frontier Works Organization (FWO), ATS and Nestle Pakistan, successfully conducted an Emergency Response Mega Drill at the Lahore–Sialkot Motorway Toll Plaza.
The exercise brought together emergency response teams, transport partners, and government agencies to test preparedness, coordination, and response capabilities in the event of a road transportation emergency. Simulating multiple incident scenarios, the drill covered firefighting, medical emergency response, spill containment, product retrieval, vehicle recovery, and traffic management. Through a coordinated live response, participating organizations evaluated emergency procedures, communication protocols, resource mobilization, and inter-agency collaboration, reinforcing their ability to respond effectively and safely under real-world conditions.
Speaking at the exercise, Muhammad Owais Sultan, Director Manufacturing & Distribution, Wafi Energy Pakistan Limited, said, “At Wafi Energy Pakistan, safety remains our main priority. This Emergency Response Drill reflects our commitment to continuously strengthening our preparedness and response capabilities through collaboration with our partners. Exercises like these provide the opportunity to test systems, improve coordination, and ensure that our teams are equipped to respond effectively in challenging situations.”
Imran Shahid, Deputy Inspector General (DIG), NHMP, witnessed the exercise and commended the collaborative efforts demonstrated during the drill. He said “Emergency preparedness is most effective when organizations work together with a shared commitment to safety. This drill demonstrates the importance of collaboration in building response capabilities and protecting lives. We appreciate the efforts of all participating organizations and encourage such initiatives to strengthen emergency management and road safety across Pakistan.”
The event brought together senior representatives from participating organizations, including leadership teams from Wafi Energy Pakistan and its transport partners. Senior management representatives from Rasch Private Limited, Fakhr-e-Khushab Transport Company, Badshah Transport Company, and M. Abbas Logistics attended the exercise, demonstrating a shared commitment to operational excellence, road safety, and emergency preparedness.
Through partnerships and proactive safety initiatives, Wafi Energy Pakistan remains committed to promoting a strong safety culture, enhancing operational excellence, and supporting the development of safer transportation practices across the country.
Karandaaz Pakistan Launches Studies on E-Invoicing and Agri Spot Trading to Advance Pakistan’s Digital Economy
As part of its commitment to advancing digitalization for economic and market development in Pakistan, Karandaaz Pakistan hosted a report launch and stakeholder dialogue, Digitalizing Transactions: Insights on E-Invoicing and Agri Spot Trading in Pakistan. The event brought together policymakers, regulators, financial institutions, private sector leaders, and development partners to explore the role of digital transaction infrastructure in strengthening Pakistan’s economy.
The event marked the launch of two research studies: E-Invoicing in Pakistan and Feasibility Study for Agri Spot Trading in Punjab, Pakistan. Together, the studies explored how a strong transaction infrastructure can strengthen access to finance, efficient market systems, increase transparency and support economic formalization.
Speaking on the importance of the research, Waqas ul Hasan, Chief Executive Officer, Karandaaz Pakistan, said: “As Pakistan advances its digital transformation journey, today’s discussions and research can help build greater awareness across the ecosystem and support the development of institutional frameworks needed to unlock this space. Over the past decade, Karandaaz has worked with the public and private sectors to strengthen Pakistan’s digital financial ecosystem, from conceptualizing Raast to digitizing the ecosystem. The research being launched today reflects that commitment and aims to inform dialogue with regulators and government while fostering growth and innovation that contributes to real economic activity.”
The experts presented findings from Karandaaz Pakistan’s latest research. The study on e-invoicing examined how digital invoicing can improve transaction visibility, strengthen tax compliance, and support SME financing, while assessing Pakistan’s readiness for wider adoption.
The second study explored the feasibility of a structured spot trading mechanism for agricultural commodities in Punjab, identifying opportunities to improve price discovery, market transparency, and access to finance through electronic warehouse receipt systems.
In his keynote address, Ali Farid Khwaja, Commissioner, Securities Markets Division, SECP, highlighted the importance of modern market infrastructure and regulatory innovation, saying, “E-invoicing and electronic warehouse receipts can help Pakistan move from fragmented transactions to trusted digital market infrastructure. SECP’s role is to enable responsible innovation, strengthen market confidence, and support frameworks where verified digital records can improve transparency, reduce risk and expand access to finance.”
The event featured two panel discussions that examined the practical implications of these findings. The first discussion titled, “Can Pakistan leverage E-Invoicing as a foundational infrastructure for economic formalization and SME finance?”, included Aisha Farooq (Chief Commissioner, Regional Tax Office, Islamabad), Omer Bin Ahsan (CEO, Haball), Saeed Iqbal (Director and Co-Founder, Dynamic Resources Limited), and Faisal Bari Cheema (Head of SME Supply Chain Portfolio Management, Bank Alfalah Limited), moderated by Taimoor Ali (Group Head DFS Projects, Karandaaz). The second panel, “Building transparent agri markets: Can agri spot trading improve price discovery and market access?”, brought together Khurram Zafar (CEO, PMEX), Ahmed Umair (Prime Minister’s Coordinator on Agriculture), Saher Shaikh (Chief Guarantee Officer, NCGCL), and Farhan Tahir (CEO and Co-Founder, Kissan Gudam), moderated by Hasnat Ashraf (Head Development Impact, Karandaaz).
The discussions underscored a growing recognition that modern transaction infrastructure is critical to advance. Through research, stakeholder engagement, and ecosystem development, Karandaaz Pakistan remains committed to supporting solutions that strengthen Pakistan’s digital economy and enable inclusive, sustainable growth.
Pakistan Business Council Welcomes the Federal Budget as a Positive Step Toward Economic Stabilisation and Growth
The Pakistan Business Council (PBC) welcomed several growth-oriented measures announced in the Federal Budget 2026-27, describing them as clear signals that sustainable, inclusive economic growth is now a priority of the government.
While welcoming these measures, PBC emphasised that sustaining growth will require policy continuity and a continued focus on structural reforms which are imperative.
Commenting on the budget, Dr. Zeelaf Munir, Chairperson, Pakistan Business Council, said, “This budget reflects that the focus is beginning to shift towards sustainable economic growth, which is encouraging for businesses and investors alike. The relief measures announced, despite operating challenges and limited fiscal space, indicate an inclusive effort to support productive economic activity for all segments of society while also maintaining engagement with key stakeholders. These measures are welcome and meaningful; they should be viewed as necessary first steps rather than the finish line. Consistency of Policy is the key.”
Javed Kureishi, Chief Executive Officer, Pakistan Business Council, said, “This budget sends an important signal that the government is listening to the stakeholders of Pakistan’s formal economy. We are pleased to see movement on the Super Tax, relief for the salaried class, and measures that reduce the tax burden on export proceeds, improving liquidity for exporters. These are issues PBC has consistently highlighted in its discussions with policymakers, so it is encouraging to see meaningful progress on them. We would particularly like to acknowledge the Prime Minister’s personal commitment and the Finance team’s hard work. We hope this collaborative approach continues as the government moves from budget announcements to implementation. A strong partnership between government and industry will be essential to achieving Pakistan’s economic ambitions.”
PBC called on the government to maintain momentum on broadening the tax base by bringing untaxed and undertaxed sectors into the formal economy, thereby reducing the burden on compliant taxpayers. PBC also urged for accelerated energy sector reforms to bring industrial energy costs closer to regional benchmarks, faster privatisation of loss-making state-owned enterprises, and the adoption of a three-year reform framework that provides businesses with the certainty needed to plan, invest and grow. Investor confidence will ultimately depend on consistency, predictability, and effective implementation. Businesses need confidence that reforms will continue beyond a single budget cycle. These reforms must remain central pillars of the government’s agenda if Pakistan is to achieve durable and inclusive economic growth.
PBC also acknowledges the hard work and commitment of the government’s economic team throughout the budget process and looks forward to continuing its engagement with policymakers to help advance Pakistan’s economic objectives. The constructive dialogue between the government and the private sector in the lead-up to the budget is encouraging and reflects a shared commitment to the country’s long-term prosperity. Pakistan’s long-term economic transformation will depend on sustained reforms, policy continuity, and a shared commitment between government and industry to build a more competitive and prosperous economy.
Banking Industry Backs a Disciplined, Growth-Oriented Budget — and Is Putting Its Balance Sheet to Work
The Pakistan Banks Association (PBA) today welcomed the Federal Budget for FY 2026-27 as the first in years to move beyond crisis management and make deliberate choices for growth, without abandoning the discipline that earned Pakistan its recovery. The industry meets this moment from a position of genuine strength, backed by the most favourable macro backdrop in over a decade: a policy rate well off its peak, a primary surplus restored, and sovereign ratings upgraded by Moody’s, Fitch and S&P. Pakistan’s banks are ready to finance not just the State, but the wider economy.
The Budget keeps faith with fiscal discipline, holding the deficit at 3.6% of GDP and a primary surplus of 2%, while extending real relief through lower personal income tax, a reduction in super tax for the wider corporate sector, support for exporters, and an extension of the concessional regime for IT and IT-enabled services to 2029. Growth is targeted at 4%, with independent analysts seeing further upside as confidence returns. The Association sees this balance — caution on the fiscal accounts, ambition on growth — as exactly the right setting, and one in which private credit, rather than public borrowing, can do the heavy lifting.
A Track Record of Stepping Up for the Country:
The banking industry has not waited to be asked. Over the past two years, it has repeatedly used its own balance sheet, at no cost to the exchequer and without sovereign guarantees, to unlock problems that had stalled the economy:
- Circular Debt: Coordinated the restructuring of Rs 1.225 trillion of power-sector circular debt at concessional rates, easing a burden that had choked the energy chain for years.
- PIA Privatisation: Restructured Rs 268 billion of PIA debt, clearing the way for the first major privatisation in two decades.
- Export Competitiveness: Voluntarily reduced its margin on the Export Refinance Facility, bringing the cost of export financing down to 4.5% – acting ahead of the curve to keep exporters competitive.
Pakistan’s banks are strong, liquid and well capitalised, with a capital adequacy ratio of 21.4%, ahead of regional peers, and remain the most transparent and digitally advanced sector in the economy. That strength is what makes the commitments below credible.
Commenting on the Budget, Zafar Masud, Chairman PBA, said: “This is a Budget the industry can build on. The conditions for priority-sector lending are the best in over a decade. We intend to use them for the benefit of our economy, our businesses, and our people. Our commitment is concrete: to drive SME financing from Rs 882 billion towards Rs 1.5 trillion by 2028, to revive mortgage & housing finance to achieve the 500,000 units target of the government by 2028, agriculture financing to cross Rs. 3.5 trillion disbursements during a year by 2028, promoting social impact projects, particularly in education and skill development, by leveraging the budgetary allocations to meet the international health and education funding commitment standard benchmark of 5%+ each, and to keep export credit flowing at competitive rates. To make the most of this positive environment, we look forward to working with the Government and the State Bank of Pakistan on a consistent and predictable tax regime, documentation that reinforces financial inclusion, and risk-sharing that unlocks lending to priority sectors with both social as well as economic multipliers for sustainable growth.”
Measures in the Budget to revive property and housing, digital payments, exports and technology are expected to support a recovery in private credit. The breadth of recent progress underscores the point: workers’ remittances reached a record USD 38.3 billion, the Roshan Digital Account has channelled over USD 12 billion through formal channels, and the banking system now serves some 103 million depositors across nearly 268 million deposit accounts.
Muneer Kamal, CEO & Secretary General – PBA, added: “What stands out about this Budget is its shift from stabilisation towards growth, and the banking industry is ready to carry its share of that load. We will keep credit flowing to the productive sectors — housing, exports, technology and, above all, the SMEs that will drive the next phase of job creation. The foundations are strong, the outlook is encouraging, and the industry is fully committed to building on both.”
An Unprecedented Response on SME, Agriculture and Housing
Nowhere is this clearer than in the priority programmes. Over the last two years the industry has delivered in an unparalleled fashion across SME, agriculture and housing: SME financing has almost doubled in both volume and the number of borrowers; the long decline in agriculture borrowers since 2019 has been arrested and the number has exceeded 3 million borrowers to reach 4 million by 2028; and in low-cost housing the industry approved Rs 100 billion to some 67,000 beneficiaries in just two months — against a cumulative industry total of around 65,000 beneficiaries and Rs 225 billion over the preceding six years. These successes on the priority sector lending front are primarily owed to the various Government schemes and interventions, conceived and launched in collaboration with the industry, and the industry is surely responding in an unprecedented way.
The Association reaffirmed that, with these foundations in place, the industry stands fully behind the Government’s growth agenda as the recovery takes hold.
3.70% GDP growth a cautious recovery; MZH warns of widening trade deficit and urges balanced FBR powers
Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum (PBIF), President of the All Karachi Industrial Alliance (AKIA), Chairman of the National Business Group Pakistan (NBG), Chairman of the FPCCI Policy Advisory Board, and Former Provincial Minister, while reviewing the government’s economic performance, stated that Pakistan’s economy has shown signs of gradual recovery and stability during the fiscal year 2025-26 despite the floods. Under this recovery, the total volume of the national economy has crossed $452 billion for the first time, compared to the previous $405 billion. According to official figures, the Gross Domestic Product (GDP) growth rate for the current fiscal year remained at 3.70 percent, showing a slight improvement compared to the 3.18 percent of last year. However, to translate this into a five or six percent growth rate, there is a need to focus further on innovation in policymaking, investment, exports, and the development of productive sectors.
Mian Zahid Hussain said that the performance of all three major sectors of the economy appears to have played an important role in this stability. The agriculture sector achieved a growth rate of 2.89 percent, in which a 4.3 percent increase in wheat production, 6.2 percent in sugarcane, and 2.8 percent in rice production was recorded, while the livestock sector showed steady growth of 3.75 percent. However, the weak performance of some crops in the agricultural sector and the risks of climate change still demand attention. Therefore, to increase agricultural productivity on a sustainable basis, the adoption of modern technology, better water management, and the provision of practical facilities to farmers will remain essential. He added that the industrial sector’s performance was also relatively better, witnessing a growth of 3.51 percent. Large-Scale Manufacturing (LSM) grew at a rate of 6.11 percent, while the 61.66 percent surge in the automobile industry and 39.93 percent increase in transport equipment reflect an improvement in industrial activities. These figures show a positive trend of industrial recovery; however, issues such as high production costs, energy tariffs, financial pressure, and reliance on imported raw materials still remain a challenge for the local industry. Therefore, to boost industrial growth, reducing the cost of doing business, policy consultation, and promoting local value addition will be crucial.
The veteran business leader pointed out that a 5.6 percent decrease in exports and a 12 percent increase in imports during the 11 months is concerning, whereas a 9.2 percent increase in workers’ remittances despite the US-Iran war is a welcome development. The services sector, which is the largest component of the national economy, is playing an important role in overall economic activities by growing at a rate of 4.09 percent. A growth of 7.52 percent in the Information and Communication sector and 8.54 percent in public service was observed, indicating an increase in digital activities and administrative expenses. Per capita income, which was $1812 in 2024-25, stood at $1901 in 2025-26, witnessing a minor increase of $89. However, to make the impact of this improvement more evident at the grassroots level, it is necessary to further strengthen income and employment opportunities, reduce inflation, and enhance social security measures.
Mian Zahid Hussain emphasized that Pakistan’s economy is moving in a cautious yet positive direction. To make the current recovery sustainable, it is indispensable to focus on encouraging the private sector, increasing exports, enhancing regional competitiveness, introducing agricultural reforms, ensuring fiscal discipline, and utilizing modern technology. The steps taken by the government and relevant institutions for macroeconomic stability are important; however, there will be a continuous need to make these measures more effective, transparent, and result-oriented in the future. If the process of economic reforms is continued with the meaningful consultation of the business community and a balance is maintained in the enforcement powers of the FBR, Pakistan can gradually move towards a more stable, productive, and competitive economy.
Lucky Investments and DIB Pakistan Collaborate to Expand Islamic Investing Nationwide
Lucky Investments Limited (Lucky Investments), one of Pakistan’s fastest-growing Islamic Asset Management Companies, and DIB Pakistan a subsidiary of Dubai Islamic Bank UAE, have entered into a strategic collaboration to broaden access to Shariah-compliant investment solutions across Pakistan.
As per the signed MOU in place, DIB Pakistan will distribute Lucky Investments’ Islamic mutual funds and pension funds through its nationwide branch network, enabling customers to conveniently access professionally managed Shariah-compliant investment products through one of Pakistan’s leading Islamic banking franchises.
This initiative will enhance investment solutions across DIB Pakistan’s customer touchpoints – further strengthening commitment to promoting Islamic savings, wealth creation, and retirement planning in Pakistan.
The collaboration brings together the investment management expertise of Lucky Investments and the extensive banking reach of DIB Pakistan, which serves more than 556,596 customers through a network of over 300 branches across 100 cities nationwide.
Commenting on the partnership, Mohammad Shoaib, CFA, Chief Executive Officer, Lucky Investments Limited, said: “We are delighted to collaborate with DIB Pakistan, one of the most respected names in ethical banking globally. This alliance represents an important milestone in our mission to make high-quality Shariah-compliant investment solutions accessible to a wider segment of Pakistani investors. We aim to deepen financial inclusion, encourage long-term savings, and contribute to the continued growth of Pakistan’s Islamic finance industry.”
Speaking on the occasion, Muhammad Ali Gulfaraz, Chief Executive Officer, DIB Pakistan, said: “At DIB Pakistan, we are committed to expanding access to ethical financial solutions. Our collaboration with Lucky Investments strengthens that commitment – bringing professionally managed Islamic investment and retirement solutions directly to our customers through our branch network. Together, we aim to create meaningful pathways to long-term financial security.”
This initiative reflects the growing convergence between Islamic banking and Islamic asset management in Pakistan and supports the shared vision of both institutions to advance ethical, transparent, and Shariah-compliant financial solutions for individuals and families nationwide.
Federal Budget 2026-27 Positive For Economic Stability and National Security; PKR 2.264 Trillion Increase In FBR Target Is A Challenge: MZH
Mian Zahid Hussain, President of Pakistan Businessmen and Intellectuals Forum (PBIF), President of All Karachi Industrial Alliance (AKIA), Chairman of National Business Group Pakistan, Chairman of FPCCI’s Policy Advisory Board, and Former Provincial Minister for Information Technology Sindh, has termed the Federal Budget 2026-27 as a balanced, consistent, and reformative document in the context of the country’s current economic situation.
Mian Zahid Hussain said that in this budget, with a total outlay of Rs 18.77 trillion, setting a tax target of Rs 15.264 trillion for the FBR compared to the previous Rs 13 trillion is a major challenge. The FBR will have to collect Rs 2.264 trillion more in the new fiscal year than last year’s actual recovery, which will be achieved through tax adjustments and enforcement measures, making a hard time for the business community as well. Mian Zahid Hussain noted that despite improvements in economic indicators, retaining the growth rate target at four percent is beyond comprehension. Achieving a 5 percent growth rate is now imperative for employment generation, poverty reduction, and industrial development in Pakistan. In this budget, increasing the minimum tax for the export sector from 1 percent to 1.25 percent and not restoring the fixed tax regime is unexpected. However, the continuation of the existing tax structure for the IT sector for three years and the government’s commitment to promoting IT exports will breathe new life into the digital economy, which is absolutely vital for the country’s foreign exchange reserves.
Mian Zahid Hussain stated that at the government level, reforms in the super tax system and the abolition of the super tax on incomes between Rs 150 million and Rs 500 million is a major relief for corporate entities. Similarly, reducing the rate from 10 percent to 8 percent on incomes exceeding Rs 500 million will be instrumental in promoting investment. The saving of Rs 3.7 trillion through negotiations with Independent Power Producers (IPPs) in the energy sector is a clear testament to the government’s improved performance, which will play a pivotal role in curbing circular debt. Taking the defense budget to Rs 3 trillion for the first time in Pakistan’s history is a commendable measure, and the record allocation of Rs 838 billion for the Benazir Income Support Program (BISP) for social protection proves that the government is determined to prioritize public welfare and National security.
The veteran business leader pointed out that the allocation of a massive sum of Rs 8.054 trillion for interest payments indicates the growing burden of the country’s debts. To tackle this, increasing non-tax revenue and generating Rs 1.67 trillion from the petroleum levy was inevitable, although it will fuel inflation. However, the business community expects that measures will be taken to reduce electricity and gas tariffs to pave the way for the competitiveness of export industries in the global market; this approach can potentially yield a $10 billion increase in Pakistan’s exports. Mian Zahid Hussain also welcomed the government’s concessionary rate of 4.5 percent on bank loans for exporters. Various targeted measures taken in the budget for the development of agriculture are also highly welcome. The allocation of Rs 100 billion for infrastructure, especially for the Quetta to Karachi N-25 highway, will significantly promote connectivity and trade in the country. The relaxation in the income tax slabs for the salaried class and setting the minimum wage at Rs 40,700 is a much-needed relief for the inflation-stricken public.
Mian Zahid Hussain concluded that the business community is optimistic that these budget targets, coupled with the consultation of the private sector and the implementation of sound policies, will steer the country toward economic stability. This will ultimately increase foreign investment and create abundant employment opportunities.