Mobilink Bank, Yango Pakistan partner to enable Shariah-compliant financing and Embedded Insurance for Registered Drivers
Pakistan’s leading digital microfinance bank, Mobilink Bank, and Yango, part of the global technology company Yango Group, have partnered to provide eligible Yango partner drivers and couriers with access to Shariah-compliant vehicle and handset financing, embedded Takaful protection, and inclusive digital banking and payment solutions. The partnership aims to strengthen financial inclusion by supporting partner drivers with solutions tailored to their livelihood and business needs.
This collaboration recognizes the vehicle as a core productive asset for ride-hailing drivers and brings financing and financial services together to support their earning journey. Rather than offering standalone financing, Mobilink Bank and Yango Pakistan will support drivers throughout their earning journey by bringing financing, protection, digital payments, banking and connectivity together in one integrated ecosystem.
The financing proposition includes Car Diminishing Musharakah financing of up to PKR 5 million, as well as Murabaha financing for motorcycles, e-bikes, rickshaws and handsets for eligible drivers identified by Yango Pakistan. Rickshaw, motorcycle and handset financing will also be offered under applicable Corporate Guarantee arrangements.
The partnership also provides eligible financed customers with complimentary embedded Takaful coverage throughout the financing tenure, including income protection, hospitalization and maternity benefits for eligible women borrowers, and accidental death or permanent disability coverage. Vehicle Takaful and additional asset-protection solutions will also be available under the proposition.
Commenting on the partnership, Haaris Mahmood Chaudhary, President & CEO, Mobilink Bank, said: “Pakistan’s gig economy is creating a new generation of entrepreneurs, yet many remain outside formal financial services. Through this partnership, we are giving ride-hailing drivers access to Shariah-compliant financing, protection and digital banking tools that can strengthen their livelihoods and support sustainable growth.”
Miral Sharif, Country Head for Yango Pakistan stated: “For a driver, a vehicle is not simply an asset — it is the foundation of their earning potential. Access to appropriate financing and protection can therefore have a direct impact on their ability to work and grow. Our partnership with Mobilink Bank brings these solutions closer to eligible partner drivers , while giving them greater flexibility to invest in the tools they rely on every day. We see this as an important part of building a stronger and more sustainable driver ecosystem.”
Eligible Yango partner drivers and couriers will also gain access to Mobilink Bank’s digital banking and payment ecosystem, including digital account onboarding, Business Plus Account benefits, Raast QR payments and a dedicated Driver QR for fare collection, along with select connectivity and handset benefits.
PSX Welcomes Tasdeeq as 11th Listing of CY-2026 amid Record Demand
The Gong Ceremony of Tasdeeq Information Services Limited was held today at PSX Trading Hall, marking the listing of South Asia’s first publicly listed credit bureau. The transaction covered 219 million ordinary shares: 69 million placed with pre-IPO investors at PKR 2.35 and 150 million offered through the IPO at a strike price of PKR 3.00, bringing the total transaction size to approximately PKR 612 million.
The retail portion was oversubscribed 21.68 times, attracting 11,358 applications and PKR 2.4 billion in total participation. This milestone strengthens Pakistan’s capital markets, boosts investor sentiment, and highlights the growth potential of the country’s data and analytics sector.
Mr. Farrukh H. Sabzwari, Managing Director & CEO of PSX, stated: “It is a privilege to welcome Tasdeeq Information Services Limited to the Pakistan Stock Exchange. This Gong Ceremony marks the 11th listing of the calendar year and the 3rd of the fiscal year, underscoring the strong momentum of Pakistan’s capital markets. Tasdeeq’s admission as a licensed credit bureau reflects the growing diversity of businesses choosing the Exchange to raise capital and grow.”
He added: “Investor accounts have now crossed 600,000, driven increasingly by Millennials and Gen Z participating through awareness sessions and digital platforms. It is this deepening investor base that powered the strong oversubscription of Tasdeeq’s IPO, highlighting the enduring appetite for innovative companies and the long-term growth of Pakistan’s capital markets.”
The Chairman and Board of Tasdeeq Information Services Limited led the celebration, reaffirming the company’s commitment to strengthening Pakistan’s credit information infrastructure and supporting responsible lending across banks, microfinance institutions and digital lenders.
Mumtaz Hussain, CEO of Tasdeeq, thanked investors and shared plans to expand the company’s B2C offering, while Mohammed Sohail, CEO of Topline Securities — Consultant to the Issue — noted the exceptional retail response that led to the retail allocation being raised from 25% to 35%, a first in Pakistan’s IPO history.
Wafi Energy Pakistan reports H1 2026 results, continues investing in supply infrastructure and energy security
The Board of Directors of Wafi Energy Pakistan Limited (Wafi Energy) today announced the company’s financial results for the half year ended June 30, 2026. The company reported a profit after tax of PKR 1,523 million for the half year, compared with PKR 1,260 million in the same period last year. The half-year result includes a loss after tax of PKR 641 million in the second quarter. Through a period of disruption in global energy markets and sustained volatility, the company maintained reliable supply to customers.
Wafi Energy continued to expand its network in this period, adding 38 new Shell retail sites, 18 new Shell Select stores, 2 EV Shell Recharge facilities and upgrading eight existing retail sites. The lubricants business grew across its consumer and industrial segments during the period, supported by product launches and sustained investment in customer and mechanic engagement. Together, this extends access to Shell fuels, lubricants and convenience services for customers across the country.
Recently, the company inaugurated a new 7.4-million-liter motor gasoline storage tank at its Tarru Jabba terminal in Nowshera, KPK. The facility adds storage capacity and improves the ability to hold and move products closer to demand, supporting supply resilience across the region. With this investment, Wafi Energy also plans to expand its Shell retail network across northern Pakistan.
Commenting on the performance, Zubair Shaikh, Chief Executive Officer, said, “This has been a demanding half for the industry, with disruption to global supply routes and continued volatility in costs. Our performance reflects disciplined investment and execution and focus on supply security. Our aim has been simple: keep supply moving, provide customers with reliable fuels and lubricants, and keep investing in long term value creation for shareholders and the country.”
Wafi Energy remains focused on long-term growth in Pakistan, with continued investment in its network and capabilities to strengthen reliable energy supply and support the country’s evolving energy needs.
Pakistan-UAE Trade Gains Momentum: Mian Zahid Hussain
Efforts of Prime Minister Mian Muhammad Shehbaz Sharif and Field Marshal Syed Asim Munir Are Bearing Fruit; Pakistan-Saudi Arabia-Türkiye Defence Agreement Heralds Growth in Pakistani Exports
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, has said that Pakistan’s exports to the Gulf Cooperation Council countries increased by 2.1 percent during January-July 2026, reaching $1.944 billion compared with $1.904 billion in the corresponding period of 2025. He said that, in the context of the US-Iran war, the increase of approximately $40 million was encouraging and demonstrated the continued importance of the Gulf countries in Pakistan’s external trade.
Mian Zahid Hussain said that Pakistan’s exports to the United Arab Emirates increased by 5.9 percent, from $1.209 billion to $1.280 billion. The increase of $71.1 million in exports to the UAE was equivalent to approximately 178 percent of the total net increase of $40 million in Pakistan’s exports to the GCC. He stated that the UAE accounted for 65.9 percent of Pakistan’s total exports to the GCC, while Saudi Arabia contributed another 20.6 percent. Together, the two major markets absorbed 86.5 percent of Pakistan’s total exports to the region, compared with approximately 84.3 percent during the corresponding period last year. He added that the UAE and Saudi Arabia provided Pakistan with a strong commercial foundation in the Gulf. While strengthening trade relations with these two important markets, Pakistan must also give serious attention to Oman, Qatar, Bahrain and Kuwait.
Mian Zahid Hussain said that exports to Saudi Arabia increased modestly by 1.4 percent to $401.1 million. Kuwait recorded the highest percentage growth among GCC destinations, with exports rising by 14.7 percent from $62.7 million to $71.9 million. Although Kuwait represented only 3.7 percent of Pakistan’s total GCC exports, its performance demonstrated that significant opportunities for additional exports existed in smaller Gulf markets through organised commercial engagement and the identification of new buyers. Mian Zahid Hussain expressed concern over the slight decline in exports to Oman, Qatar and Bahrain. He said that Pakistan’s total exports to the four GCC countries other than Saudi Arabia and the UAE declined by approximately 4.5 percent. He said these figures proved that, contrary to the general perception that Pakistan’s relations with the UAE had declined, the overall increase in Pakistan’s GCC exports was primarily driven by the United Arab Emirates. Therefore, despite the UAE’s politically cold posture, Pakistan should continue promoting an atmosphere of warmth, brotherhood and cooperation with the UAE.
Mian Zahid Hussain said that Pakistan’s monthly export performance also witnessed considerable volatility. Exports reached a seven-month peak of $323.2 million in February 2026 but subsequently declined to $298 million in March, $241 million in April and $240.7 million in May. He said that a recovery began in June, when exports increased to $259.5 million, followed by a further increase to $290.3 million in July. July exports were 11.9 percent higher than June and 4.7 percent above July 2025. However, they remained approximately 10.2 percent below the February peak. Therefore, the recent recovery was positive, but export growth would have to continue for several months to make it sustainable.
Mian Zahid Hussain appreciated the efforts of Prime Minister Mian Muhammad Shehbaz Sharif and Field Marshal Syed Asim Munir to strengthen Pakistan’s diplomatic and economic relations with the Gulf countries. He said that the defence cooperation agreement with Saudi Arabia in the first phase and Türkiye’s inclusion in the agreement during the second phase had significantly enhanced Pakistan’s importance at the international level. Kuwait, Egypt and Bangladesh were now also expressing interest in joining the said defence agreement. He further added that these defence relations should now be translated into concrete export orders, stronger business-to-business linkages and improved market access for Pakistani products.
Mian Zahid Hussain called for a two-tier export strategy for the GCC. At the first level, Pakistan’s commercial presence in the UAE and Saudi Arabia should be further strengthened. At the second level, separate export-recovery plans should be developed for Oman, Qatar, Bahrain and Kuwait. Kuwait should be treated as an emerging market and prioritised through targeted trade delegations, buyer-seller meetings and the promotion of specific Pakistani products. He further recommended an immediate product-level assessment of exports under the relevant HS codes to identify which commodities were driving growth in the UAE and Kuwait and which products were responsible for the decline in exports to Oman, Qatar, Bahrain and Kuwait.
Mian Zahid Hussain said that Pakistan’s export performance in the GCC remained resilient despite the uncertainty due to the US-Iran war, but it continued to depend heavily on two markets. Sustainable growth would require converting the June-July recovery into consistent export expansion and increasing Pakistan’s commercial presence across all six Gulf markets.
Pakistan Seafood Reaches European Supermarket Shelves — A Major Export Milestone
Pakistan’s seafood industry has achieved a significant milestone as Pakistan-origin seafood products are now reaching European supermarket shelves, demonstrating the country’s growing capability to meet the stringent quality and food-safety standards of some of the world’s most sensitive markets.
Speaking during a visit by a high-level Chinese delegation and other distinguished guests to Sea Green Enterprises, Mr. Asim Abrar, CEO of Sea Green Enterprises, highlighted the achievement and said the presence of Pakistani seafood products in European retail markets was a major breakthrough for the country’s seafood sector.
Mr. Asim Abrar said the development proves that Pakistan’s seafood has the quality and potential to compete in international markets when properly processed, packaged and handled according to European and international standards.
He emphasized that Pakistan possesses tremendous potential in seafood exports and, with the right infrastructure, investment, modern processing facilities and value addition, the sector could potentially generate US$1–2 billion in exports.
He also expressed his appreciation to the Marine Fisheries Department, Ministry of Maritime Affairs and all relevant government departments whose cooperation and efforts have contributed to enabling Pakistan-origin seafood to access highly regulated international markets.
The achievement by Sea Green Enterprises is being viewed as an important example of “Made in Pakistan” seafood successfully entering premium international retail markets, demonstrating the enormous untapped potential of Pakistan’s fisheries and seafood industry.
Mr. Asim Abrar said the milestone should serve as a catalyst for further investment, modernization and value addition, enabling Pakistan to establish a stronger and more sustainable presence in seafood markets across the world.
Prime Minister’s Directions to Increase PNSC’s Ships From 10 To 30 are Commendable.
Increasing the Number of Ships is Essential for Pakistan’s Trade Sovereignty
Field Marshal’s Regional Peace Strategy is Important for Economic Gains: Mian Zahid Hussain
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, has welcomed the decision to increase and modernise the ships of the Pakistan National Shipping Corporation. He said that this decision represents timely progress towards strengthening Pakistan’s trade sovereignty, energy security and foreign-exchange conservation.
Mian Zahid Hussain paid tribute to Prime Minister Mian Muhammad Shehbaz Sharif for directing the acquisition and leasing of additional ships and the preparation of a comprehensive plan to elevate PNSC to international standards. He said that the Prime Minister has correctly recognised that genuine economic sovereignty cannot be achieved by dependence on foreign shipping companies. Mian Zahid Hussain also appreciated Field Marshal Syed Asim Munir’s active role in promoting peace and strategic stability in the Gulf which will ultimately turn into Pakistan’s economic benefits. He said that efforts to reduce regional tensions, strengthen relations with Gulf countries and restore commercial shipping through the Strait of Hormuz are extremely important for Pakistan’s energy security and exports.
Mian Zahid Hussain said that PNSC inducted three modern oil tankers—MT Karachi, MT Lahore and MT Quetta—during January and February 2026 at a combined purchase price of approximately US$193.15 million. These vessels added 272,039 deadweight tonnes of carrying capacity, increasing the number of PNSC-managed ships from 10 to 13. The corporation now operates eight tankers and five bulk carriers. This additional capacity will make the transportation of petroleum products more reliable and reduce dependence on foreign vessels obtained through expensive spot chartering.
Mian Zahid Hussain said that, in accordance with the Prime Minister’s directions, PNSC is to further increase the number of its ships from 13 to 30 by the end of 2027. This programme includes the proposed addition of three to five feeder container ships, each having a capacity of 1,100–2,000 TEUs, by the end of 2026. The addition of five vessels would increase the number of PNSC-managed ships from 13 to 18 and provide vital shipping capacity for trade with Gulf countries, the Red Sea and South Asia. Depending on the final number and size of the vessels, the proposed feeder ships could provide combined nominal capacity of approximately 3,300–10,000 TEUs per sailing.
Mian Zahid Hussain also welcomed the construction of a 1,100-TEU container ship at Karachi Shipyard and Engineering Works at a cost of US$24.75 million. He said that the project would promote Pakistan’s domestic shipbuilding and marine-engineering industries. However, since its construction milestones extend to December 2027, chartered vessels may be required to meet immediate shipping requirements.
Mian Zahid Hussain said that Pakistan’s exports to Gulf countries increased by 2.1 percent to US$1.944 billion during January–July 2026, while the UAE accounted for 65.9 percent of the total. Reliable Pakistani feeder connections with Fujairah, Khor Fakkan and other regional hubs can protect exporters of food products, textiles, rice, surgical instruments, sporting goods and engineering products from freight-rate volatility. He said that Pakistan reportedly pays approximately US$4.6 billion annually in freight charges to foreign shipping companies. Redirecting even a modest portion of this cargo to Pakistani-owned ships would conserve valuable foreign exchange and strengthen the bargaining power of Pakistani exporters.
Mian Zahid Hussain demanded that all ship acquisitions should be undertaken transparently, through competitive financing and on commercially viable terms. Assured two-way cargo, fixed weekly schedules, refrigerated containers, agreements with international mainline shipping companies and faster port clearance should be prioritised. He added that increasing the number of ships alone would not increase exports. Professional management, commercial discipline, modern ports and effective coordination among all relevant stakeholders are essential for achieving sustainable economic games and export growth.
Toyota Sets Sustainability Benchmark, Becomes First Automotive Company in Pakistan to Plant One Million Trees
Indus Motor Company Limited (Toyota) has achieved a landmark environmental milestone by becoming the first automotive company in Pakistan to plant one million trees, reinforcing its leadership in corporate sustainability and its commitment to building a greener and more resilient Pakistan.
The milestone marks the successful completion of Toyota’s Million Tree Plantation Project, launched as part of the company’s long-term commitment to environmental stewardship. Over the years, the initiative has evolved into a nationwide effort, extending beyond Toyota’s operations to schools, universities, hospitals, parks, urban forests, industrial areas and community spaces.
With Pakistan facing increasing environmental pressures from rising temperatures, extreme weather events, rapid urbanisation and ecosystem degradation, Toyota has focused on translating its sustainability commitment into tangible action. The Million Tree Plantation Project reflects this approach by creating green spaces while supporting biodiversity and strengthening local environmental resilience.
Implemented in collaboration with the United Nations Association of Pakistan (UNAP) and World Wide Fund for Nature (WWF), alongside institutional and community partners, the project has established a significant footprint across Pakistan.
Plantation activities have covered Sindh, Punjab and Islamabad, with extensive work across Karachi’s urban, industrial and coastal areas, including Port Qasim, Bin Qasim, Gadap, Malir, Korangi, Clifton, SITE, Hawksbay, Shahrah-e-Faisal and University Road. The initiative has also extended to Nooriabad, Thatta, Shaheed Benazirabad District, Kashmore, Lahore and Islamabad.
The project’s impact goes beyond the number of trees planted. Toyota has incorporated a diverse range of fruit-bearing, shade-giving, flowering and environmentally beneficial species, including mango, jamun, guava, pomegranate, mulberry, neem, peepal, arjun, moringa, gulmohar and kachnar. The selection has been guided by the environmental and community needs of different locations.
Ali Asghar Jamali, Chief Executive Officer, Indus Motor Company Limited, said: “Becoming Pakistan’s first automotive company to plant one million trees is a significant milestone for Toyota. It reflects our long-term commitment to sustainability and our responsibility to contribute to a greener and more resilient Pakistan. We look forward to building on this achievement with greater ambition.”
The achievement was recently acknowledged during Toyota’s 35th anniversary celebrations, in the presence of distinguished representatives from the Embassy of Japan in Pakistan, Toyota Motor Asia and Toyota Tsusho Corporation.
Prime Minister’s package for the construction industry would be a game changer. CIDB, specialised financing, tax rationalisation and one-window approvals will unlock investment, jobs and broader economic growth: Mian Zahid Hussain.
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, Chairman National Business Group Pakistan, Chairman Policy Advisory Board FPCCI, and Former Provincial Minister Information Technology, has welcomed Prime Minister Mian Shehbaz Sharif’s announcement of a comprehensive development package for Pakistan’s construction sector. He said that effective and timely reforms can transform Pakistan’s construction sector into a major engine of economic growth, employment generation and industrial activity. He further said that the government’s proposals for the establishment of a Construction Industry Development Board (CIDB), the possible establishment of a Construction Development Bank (CDB), improvement in trade policies and tax reforms are timely and important. The proposed framework also includes extending the defect liability period to improve the quality and accountability of public-sector projects.
Mian Zahid Hussain said that the construction sector is moving towards recovery. According to the Pakistan Economic Survey 2025-26, the construction sector grew by 5.7 percent during FY2025-26. This progress is particularly important because construction has direct linkages with more than 40 allied and related industries, including cement, steel, glass, ceramics, cables, electrical equipment, paints, sanitary products, transport and engineering services. He said cement sales data also confirms the improvement in domestic construction activity. During FY2025-26, total cement dispatches increased by 7.2 percent to 50.5 million tonnes, compared with 47.1 million tonnes in the previous year. Domestic cement sales increased even faster, rising 9.5 percent to 41.507 million tonnes. The positive trend continued into the new fiscal year, as total cement dispatches reached 4.476 million tonnes in July 2026, up 6.02 percent year-on-year. Domestic cement sales recorded a significant 17.3 percent increase to 3.771 million tonnes, compared with 3.215 million tonnes in July 2025. Mian Zahid Hussain expressed his concern over the decline in cement exports by 30 percent to 705,341 tonnes, highlighting the high cost of doing business and the need to improve the global competitiveness of Pakistan’s cement industry.
Mian Zahid Hussain said that the current recovery in the construction sector should not be limited to temporary incentives but should be converted into long-term structural reforms. With the federal Public Sector Development Programme at around Rs1 trillion for FY2026-27, greater private-sector participation in housing, commercial development and infrastructure will be essential. He appreciated Prime Minister Mian Muhammad Shehbaz Sharif’s focus on construction-sector reforms and expressed confidence that the proposed CIDB would be developed as a genuine public-private platform rather than another bureaucratic institution. It should play an effective role in setting national standards, accelerating approvals, improving contractor accountability and resolving industry disputes.
Mian Zahid Hussain said that a specialised construction financing system or institution should be established in collaboration with the State Bank of Pakistan and commercial banks to address the gap of long-term and low-cost financing. He also called for a digital one-window approval system, improvements in tax policy, faster land and building approvals, digitisation of land records and reduction in duties on construction materials. He said government incentives should be directed towards affordable housing, vertical urban development, green buildings, earthquake-proof construction, locally produced construction materials and the adoption of modern technologies.
Mian Zahid Hussain said that Pakistan must now view the construction sector not merely as a real-estate activity but as a multiplier for industrial growth. With construction growing by 5.7 percent and domestic cement demand increasing significantly, timely reforms can strengthen employment generation, investment, innovation, dozens of allied industries and overall economic growth.