Australia, Pakistan eye $3bn trade
Australian High Commissioner Timothy Kane has said negotiations on a modernised Pakistan-Australia Bilateral Investment Treaty are expected to conclude by December, a move that could encourage greater Australian investment in Pakistan, according to a statement issued on Wednesday.
Australia and Pakistan have a treaty dating back to 1998, but it needs to be modernised according to the changing requirements of both economies, Kane said while speaking at the Lahore Chamber of Commerce and Industry (LCCI).
Bilateral trade in goods declined from $973 million in 2024-25 to $672 million in 2025-26, according to State Bank of Pakistan figures. Pakistan’s exports to Australia fell from $285 million to $275 million, while imports dropped from $688 million to $397 million.
Realty tax collection falls 29pc
Income tax collection from the real estate sector dipped 29percent to Rs28 billion in the first two months of this fiscal year, compared to Rs91 billion paid by Pakistan’s marginalised salaried class, which is also hit by continued hikes in petrol prices.
Glaring and widening gaps in income tax payments by these two segments highlight the discrimination meted out to salaried persons, who could not muster support for the 50percent tax cut that the realty sector got in the last budget from Prime Minister Shehbaz Sharif.
According to tax officials, income tax collection from the salaried class amounted to Rs91 billion during the July-August period of this fiscal year. It was higher by Rs6.3 billion, or 7.5percent, compared to the same period last year.
Draft refinery upgrade deal finalised
The Petroleum Division has placed the finalised plant upgrade agreement for the country’s existing refineries for approval of the Economic Coordination Committee (ECC), paving the way for implementation of the amended Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023.
According to an official, the draft agreement has been finalised following consultations involving the Petroleum Division, Law and Justice Division, Oil and Gas Regulatory Authority (Ogra), Special Investment Facilitation Council (SIFC), Finance Division, Inter State Gas Systems (ISGS), refineries and other stakeholders.
The Petroleum Division has now sought the ECC’s green light for the agreement so that the revised refinery policy can be operationalised. “To operationalise the Pakistan Oil Refining Policy for Upgradation of Existing/Brownfield Refineries, 2023 (as amended in August 2026), in a timely manner, the draft upgrade agreement has been submitted for consideration and approval of the ECC,” the official said.
Expensive wheat despite bumper crop
Despite a strong harvest last year, Pakistani households still buy expensive wheat. Millers and grocers charge more for atta every month. The same crop is natural and GMO-free, yet sellers offer it to the world at a discount instead of a premium. Mismanagement, a weak supply chain and an inefficient storage system produce both outcomes at once.
Karachi wholesale numbers show the domestic half of that story. Four months ago, traders sold wheat at Rs90 a kilogramme (kg). The same parcel now crosses Rs132 a kg, a jump of Rs42. Wholesale 2.5 flour has climbed Rs55 to Rs155 a kg. Fine flour has risen Rs45 to Rs157. Chakki flour has risen Rs45 to Rs180. Kisan Ittehad Chairman Khalid Hussain Batth says a 50-kg flour bag now costs as much as Rs8,000 in parts of the market. Poor families cannot absorb that bill. “Flour has become dear in Sindh, Balochistan, Khyber-Pakhtunkhwa and Punjab,” he said. “The farmer worries. The consumer worries. Both lose.”
Turkiye ministry denounces soda ash dumping duties
Turkiye Ministry of Trade has expressed its regrets over the initiation of anti-dumping investigation and “unexpected” imposition of provisional measures on the import of soda ash, which will impede the operation of market forces in a competitive environment.
The government of Turkiye has conveyed its official reservations about the preliminary determination and imposition of provisional anti-dumping duties on imports of soda ash originating in Kenya and Turkiye.
Turkiye argued that imports were unlikely to exert any substantial negative impact on domestic production. “On the contrary, they may yield several positive outcomes as import diversification enhances consumer choice by providing access to a broader array of products.”
Ahad orders overseas investment mechanism
Federal Minister for Economic Affairs and Establishment Division Senator Ahad Cheema on Thursday directed authorities to develop a structured investment mechanism to enable Overseas Pakistanis to invest in viable national infrastructure projects.
He issued the directions while chairing a high-level meeting to review Pakistan’s Public-Private Partnership (PPP) pipeline in railways, highways, power and airports.
“We ask Overseas Pakistanis to invest in Pakistan; we must also provide them with credible, convenient and professionally structured avenues to do so,” the minister said.
In NFC Islamabad seeks fair share
Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Tahir Mehmood has demanded a reasonable share for the capital in the National Finance Commission (NFC) Award, arguing that the city should not remain deprived of its due fiscal resources while facing increasing demands for infrastructure and municipal services.
Speaking at the Pakistan Women Leadership & Policy Summit 2026, Mehmood said the capital’s financial constraints were affecting its development and that a fair fiscal mechanism was essential to address growing urban needs.
Kamal reaffirms BRI commitment at Hong Kong summit
Federal Minister for Commerce Jam Kamal Khan has reaffirmed Pakistan’s commitment to the Belt and Road Initiative (BRI), saying the China-Pakistan Economic Corridor (CPEC) is positioning the country as a regional hub for trade, investment and connectivity, according to a statement issued on Thursday.
Addressing the 11th Belt and Road Summit in Hong Kong, he said CPEC was transforming the country’s economic landscape through cooperation in infrastructure, energy and industrialisation.