Category: Islamabad

Islamabad: The prices of gold witnessed an increase in the local market on Wednesday, with the price of 24-karat gold per tola rising by Rs900 to Rs425,036, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.

Similarly, the price of 10 grams of 24-karat gold increased by Rs771 to Rs364,399, while the price of 10 grams of 22-karat gold went up by Rs707 to Rs334,044.

In the international market, the price of gold increased by US$9 to US$4,026 per ounce.

Meanwhile, the price of silver remained unchanged, with 24-karat silver per tola holding steady at Rs6,289 and 10 grams of silver unchanged at Rs5,391.

The price of silver in the international market also remained unchanged at US$58.10 per ounce, the association reported.

Islamabad: The Pakistan Institute of Development Economics (PIDE) on Wednesday urged the government to launch a ‘Middle East Recovery Mission’ through the Special Investment Facilitation Council (SIFC) to help Pakistan shift from labour export to contract-led exports and capture opportunities in the Gulf’s trillion-dollar project market.

The Pakistan Institute of Development Economics (PIDE), in its latest Policy Viewpoint titled “Capturing the Middle East Recovery: From Labour Export to Contract Export,” called for immediate launch of the initiative to enable Pakistan to export contracts, services, goods and firm-level expertise instead of relying primarily on labour exports.

Authored by PIDE Professor of Economics and Registrar Dr Nasir Iqbal, the report said Pakistan’s economic ties with Gulf countries remained significant but structurally weak, with the country earning mainly through remittances while securing only a limited share of commercial opportunities in construction, logistics, engineering, hea
lthcare, information technology and regional reconstruction.

The report estimated the Gulf’s project and reconstruction market at over US$1.5 trillion during the current decade, including Saudi Vision 2030 projects and reconstruction needs in Syria, Gaza and Lebanon, but noted Pakistan continued to benefit largely from workers’ wages rather than project contracts and supply chains.

It highlighted that Pakistan exported goods worth US$3.79 billion to GCC countries in FY2025 against imports of around US$17.9 billion, while more than 762,000 Pakistanis went abroad for employment in 2025, with nearly 61 per cent classified as unskilled.

PIDE proposed that the Mission should operate through five permanent desks within the SIFC, focusing on labour and skills certification, exports and supply chains, investment and contracts, defence-industrial cooperation, and migrant protection, using existing institutions instead of creating a new authority.

The report recommended certifying, registering and insuring workers
before deployment, while preparing Pakistani firms in construction, logistics, healthcare, IT and facilities management to secure subcontracts, joint ventures and project partnerships in Gulf markets.

It further proposed introducing a Gulf Worker ID linked with NADRA, banking, insurance and skills certification, besides launching a Pakistan Development Bond to channel diaspora savings into productive investment.

PIDE estimated the proposed Mission could generate an additional US$2-4 billion in annual external inflows by the third year, with the potential to exceed US$5 billion by the fifth year through higher remittances from skilled workers, increased exports, contract revenues and defence-industrial cooperation.

The institute urged the federal government to designate the SIFC as the coordinating platform for the initiative, approve a 90-day implementation framework and ensure transparent and audited execution to maximise economic gains for Pakistani workers and businesses.

Islamabad: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) staged a strong recovery on Wednesday, gaining 1,766.97 points, a positive change of 1.02 percent, to close at 175,285.78 points against 173,518.82 points recorded on the previous trading day.

During the session, the ready market recorded a trading volume of 583.805 million shares with a traded value of Rs26.045 billion, compared to 912.614 million shares valuing Rs45.614 billion in the previous session. The market capitalization increased to Rs19.783 trillion from Rs19.584 trillion a day earlier.

Out of 495 active companies in the ready market, 361 advanced, 104 declined, and 30 remained unchanged.

K-Electric Ltd. led the volume chart with 52.695 million shares, followed by Cnergyico PK with 37.967 million shares and TPL Properties with 27.820 million shares.

The top gainers included PIA Holding Company LimitedB, which surged by Rs688.00 to close at Rs18,294.00, and Unilever Pakistan Foods Limited, which gained Rs165.00 to settle at Rs25,525.00.

On the losing side, Khairpur Sugar Mills Limited declined by Rs131.02 to close at Rs2,310.46, while Shield Corporation Limited fell by Rs39.95 to settle at Rs750.15.

In the futures (DFC) market, turnover stood at 133.839 million shares with a traded value of Rs6.255 billion, compared to 223.550 million shares worth Rs11.398 billion in the previous session.

Out of 302 futures-market companies, 235 advanced, 64 declined, and three remained unchanged.

Islamabad: The Islamabad Chamber of Commerce and Industry (ICCI), in collaboration with the Board of Investment (BOI), organized an awareness session on the Business Facilitation Centre (BFC), established here by the BOI.

The event was aimed at to familiarize the business community with the government’s flagship one-window initiative designed to simplify investment procedures, improve inter-agency coordination and enhance Pakistan’s ease of doing business.

Addressing the session as the chief guest, Additional Secretary and Executive Director General, Board of Investment, Zulfiqar Ali, described the Business Facilitation Centre as a landmark initiative aimed at creating a more investor-friendly business environment in Pakistan.

He said the Centre has been designed to provide investors and entrepreneurs with seamless access to a broad range of government services through a single platform, eliminating the need to approach multiple departments separately.

He said the BFC offered comprehensive facilitation in company registration, business incorporation, investment approvals, licensing, regulatory compliance, documentation, tax guidance and coordination with relevant government agencies.

By integrating these services under one roof, he noted, the Centre would reduce procedural delays, enhance transparency, improve institutional coordination and strengthen investor confidence.

Zulfiqar Ali reaffirmed the Board of Investment’s commitment to providing an efficient and responsive facilitation mechanism for both domestic and foreign investors.

He urged the business community to fully utilize the Business Facilitation Centre and its digital platform to expedite business operations and capitalize on emerging investment opportunities in Pakistan.

Earlier, welcoming the guests and participants, Acting President ICCI Tahir Ayub said the private sector requires efficient, transparent and accessible public services to remain competitive in today’s rapidly evolving business environment.

He observed that initiatives such as the Business Facilitation Centre were not merely administrative reforms but strategic interventions that would help transform Pakistan into a more competitive and investment-friendly economy.

He expressed confidence that the Business Facilitation Centre would play a pivotal role in improving Pakistan’s ease of doing business, attracting greater domestic and foreign investment and strengthening the country’s economic competitiveness.

A comprehensive technical presentation was delivered by Sabih-ul-Hussain Warsi, Manager, Business Facilitation Centre, Board of Investment, who gave a detailed briefing about the BFC as well as the milestones achieved by the initiative.

ICCI Vice President, Irfan Chaudhry reaffirmed ICCI’s commitment to strengthening collaboration with government institutions to promote investor facilitation, improve the ease of doing business and foster sustainable economic growth.

Islamabad: Federal ministers on Wednesday termed the upcoming Pakistan-China Business-to-Business (B2B) and Investment Conference a landmark initiative aimed at attracting foreign investment, enhancing bilateral economic cooperation, and accelerating Pakistan’s export-led growth strategy.

Addressing a joint press conference, Federal Minister for Board of Investment (BOI) Qaiser Ahmed Sheikh and Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan said the two-day conference, scheduled for July 17-18, will bring together around 500 Chinese investors and Pakistani businesses to explore investment opportunities, particularly in the pharmaceutical and manufacturing sectors.

Speaking on the occasion, Qaiser Ahmed Sheikh said the conference would serve as a milestone in strengthening Pakistan-China economic ties and expanding the country’s manufacturing base to support sustainable export growth.

“The primary focus of the conference is to attract investment in pharmaceuticals and other high-potential sectors of the economy. Manufacturing-led growth remains the government’s top priority, alongside the development of small and medium enterprises (SMEs),” he said.

The minister said the government is implementing Prime Minister Shehbaz Sharif’s vision of promoting industrial and agricultural development through manufacturing and SMEs, adding that financial support and liquidity facilities are being extended to the sector to encourage business expansion and job creation.

Highlighting improvements in the country’s economic indicators, Sheikh said Pakistan’s foreign exchange reserves have increased to $18 billion, compared to around $4 billion when the current government assumed office.

He added that the government, through the Board of Investment (BOI) and the Special Investment Facilitation Council (SIFC), is providing incentives and facilitation to both local and foreign investors, including access to land in Special Economic Zones (SEZs) at competitive rates.

He noted that several investment agreements and memorandums of understanding (MoUs) have already been signed to promote foreign direct investment.

Speaking at the press conference, SAPM Haroon Akhtar Khan said the Pakistan-China B2B and Investment Conference would act as a catalyst for expanding manufacturing capacity and increasing exports.

He revealed that seven international companies are ready to establish manufacturing operations in Pakistan, including vaccine production facilities, describing it as a historic development for the country’s pharmaceutical industry.

Haroon Akhtar said Pakistan’s efforts to maintain regional peace would help create a conducive environment for economic growth and investment.

He further said the participation of approximately 500 Chinese investors is expected to result in business agreements and MoUs with Pakistani companies, enhancing industrial competitiveness and opening new avenues for bilateral trade.

The SAPM added that the Special Investment Facilitation Council (SIFC) and the Trade Development Authority of Pakistan (TDAP) are working with us jointly to promote investment and support the country’s export-led economic agenda.

The Pakistan-China Business-to-Business and Investment Conference is expected to provide a major platform for fostering strategic partnerships, encouraging technology transfer, and attracting investment across key sectors of Pakistan’s economy.

Islamabad: Federal Minister for Economic Affairs, Ahad Cheema on Wednesday chaired a high-level meeting to review inter-ministerial preparations for the upcoming visit of Uzbekistan’s Deputy Prime Minister Jamshid Khodjayev, aimed at further strengthening economic and trade relations between the two countries.

The meeting was attended by Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, Secretary Foreign Affairs Amna Baloch, Secretary Commerce Jawad Paul, Secretary Railways, Director General of the National Logistics Corporation (NLC), senior officials of the Ministry of Communications and representatives of other relevant ministries, a news release said.

Participants briefed the minister on progress made regarding the agenda and planned engagements during the visit, while finalizing arrangements to ensure its successful outcome.

The meeting focused on enhancing regional connectivity and trade facilitation, with officials presenting proposals to improve road and rail links, transport corridors and logistics infrastructure between Pakistan and Uzbekistan.

The proposals were aimed at increasing the efficiency and capacity of trade routes, facilitating faster and more cost-effective movement of goods, and promoting greater regional trade integration.

The meeting was informed that a Business-to-Business (B2B) Forum would be held during the visit, with participation of more than 100 Uzbek companies interested in exploring investment, trade and joint venture opportunities in Pakistan.

Officials said agriculture, pharmaceuticals, industry, transport and logistics would remain priority sectors for investment and commercial engagement, with both governments committed to promoting stronger public-private partnerships and expanding economic cooperation.

Expressing satisfaction over the preparations, Ahad Cheema said the visit would mark another important milestone in Pakistan-Uzbekistan relations.

He expressed confidence that the two sides would sign a Five-Year Roadmap for Trade and Economic Cooperation during the visit, providing a comprehensive framework to enhance bilateral trade, investment, connectivity and broader economic collaboration.

The meeting was also informed that consensus had been reached on several Memorandums of Understanding (MoUs) and agreements, which are expected to be signed during the visit to expand cooperation across multiple sectors and create new opportunities for mutual economic growth.

The minister directed all relevant ministries and departments to ensure close coordination and timely completion of all arrangements, stressing that the visit offered a valuable opportunity to deepen economic ties, strengthen regional connectivity, promote investment and unlock the untapped trade potential between Pakistan and Uzbekistan.