1.8mn jobs at risk over auto strategy
The Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) has appealed directly to Prime Minister Shehbaz Sharif and senior cabinet members to retain safeguards against the misuse of used-car import schemes as the government finalises the Auto Policy 2026-31.
In a letter to the prime minister, the finance minister, the minister for industries and production, and other relevant authorities, PAAPAM Chairman Usman Aslam Malik warned that dropping the proposed one-year mandatory non-transfer condition on vehicles imported under overseas facilitation schemes would inflict serious damage on the domestic automotive sector and undo recent gains in documenting the national economy. According to the association, roughly 1.8 million jobs tied to local auto-parts manufacturing are at stake if imports go unregulated. Every used car brought in from abroad displaces close to Rs1.5 million worth of locally manufactured components, PAAPAM said, directly squeezing domestic production capacity.
Pakistan expects $6b investment
Pakistan’s five oil refineries are expected to sign agreements under the Brownfield Refinery Upgradation Policy early next month, with the deals expected to unlock around $6 billion in investment in the country’s refining sector.
According to a statement issued on Friday by the Petroleum Division, the managements of Pak Arab Refinery Limited (PARCO), Pakistan Refinery Limited (PRL), National Refinery Limited (NRL), Cnergyico and Attock Refinery Limited (ARL) had reaffirmed their readiness to sign the agreements.
“The managements of all five refineries reaffirmed their readiness to sign agreements under the Refinery Upgradation Policy, with the agreements expected to be signed early next month. The agreements are expected to unlock approximately $6 billion in investment in Pakistan’s refining sector,” the statement added.
IMF opposes gas rate reduction
The International Monetary Fund (IMF) is seeking to curtail powers of the federal government for making a downward revision in gas prices in a bid to prevent further accumulation of circular debt.
In a recent meeting, the Cabinet Committee on Energy (CCOE) was informed that the IMF while noticing the burgeoning tariff differential adding to the flow of circular debt in the gas sector in its review of the Extended Fund Facility (EFF) and Standby Arrangement (SBA) from time to time, sought amendments to the Ogra Ordinance 2002 to curtail powers of the government for pushing down tariffs.
Later, a commitment was solicited with set deadlines to timely advise the revision in consumer gas prices following receipt of Ogra determinations and report compliance to the IMF.
Nepra weighs Rs2.52/unit surcharge
Pakistan’s electricity consumers could be asked to absorb Rs36.54 billion in higher fuel costs in September bills after the power regulator reserved its decision on a proposed Rs2.52 per unit surcharge for July, with costly imported fuel driving a sharp rise in generation expenses.
The National Electric Power Regulatory Authority (Nepra) on Thursday reserved its decision on the Central Power Purchasing Agency-Guaranteed’s (CPPA-G) request.
CPPA-G, representing the distribution companies, said actual fuel costs rose to Rs9.6112 per unit in July from a reference cost of Rs7.0929. It wants the difference recovered from consumers through the monthly fuel adjustment.
Saudi Arabia eyes airport privatisation
Saudi Arabia’s Asyad Group has expressed interest in participating in Pakistan’s upcoming airport privatisation process and is exploring additional investment opportunities across key sectors, including the financial sector, according to a statement from the Ministry of Finance on Thursday.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with Asyad Group Chief Executive Ghassan Ahmed Amodi, who was accompanied by Group Chief Financial Officer Javaid Akhtar, Wafi Energy Pakistan Chief Executive Zubair Shaikh and other senior officials.
Amodi reaffirmed Asyad Group’s commitment to Pakistan as a long-term investment destination and expressed satisfaction with its experience in the country. He highlighted Pakistan’s importance within the group’s investment portfolio outside Saudi Arabia and shared plans to further expand its presence.
For export growth rice, textiles, pharma eyed
Federal Minister for Commerce Jam Kamal Khan has expressed satisfaction over export growth in several emerging markets and directed officials to build on this momentum through market diversification and stronger business-to-business linkages, a statement said on Tuesday.
Chairing a meeting with the Ministry’s Foreign Trade Wings, Khan emphasised identifying new opportunities for Pakistani rice, textiles, agricultural products, pharmaceuticals, processed food, light engineering goods and services.
He directed the wings to prepare country-specific action plans covering priority products, market-access barriers, logistics and banking challenges, potential buyers and pending institutional engagements.
Direct flights chief trade agenda with Nepal
Ambassador of Nepal Rita Dhital has called for restoration of direct air links between Pakistan and Nepal, saying improved connectivity is critical to unlocking trade, investment and tourism potential that remains underutilised.
Speaking at an interactive session at the Lahore Chamber of Commerce and Industry (LCCI), she said regular flights, exchange of trade delegations, single-country exhibitions and business-to-business matchmaking were needed to deepen economic ties.
Dhital recalled that Nepal Airlines had earlier operated flights to Karachi, while Pakistan International Airlines flew from Islamabad to Kathmandu until 2011, arguing that resuming such routes would facilitate business travel, tourism and people-to-people contacts. She invited Pakistani investors to explore opportunities in Nepal’s tourism and hospitality, hydropower and clean energy, and information technology.