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Saturday, 31 January, 2026 | 11 Sha’ban, 1447
Rs 20.00 | Vol XVI No 207 | 8 Pages | Karachi Edition
POWER TARIFF SLASHED, EXPORT FINANCE CUT AS PM UNVEILS EXPORT-LED GROWTH PUSH TO REVIVE ECONOMY
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PACKAGE INCLUDES ELECTRICITY TARIFFS CUT AND WHEELING CHARGES REDUCED
PM URGES INDUSTRIALISTS TO FOCUS EXPORT-LED GROWTH AND SUSTAINABLE INVESTMENT
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ISLAMABAD
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BLUE PASSPORTS FOR TOP EXPORTERS, REFINANCE RATE LOWERED TO 4.5%
CALLS FOR INCREASED LENDING AND ENTREPRENEURSHIP PROMOTION; TOP EXPORTERS AND BANKERS AWARDED FOR CONTRIBUTION
staff report
RIME Minister Muhammad Shehbaz Sharif on Friday announced major relief measures for Pakistan’s industrial and export sectors, including a Rs 4.04 per unit cut in electricity tariffs for industry and a reduction in wheeling charges to below Rs 9. Speaking at the award ceremony for top exporters of 2024–25, the prime minister also revealed a significant drop in the export refinance scheme rate from 7.5 percent to 4.5 percent and announced the issuance of blue passports for leading exporters for two years. The government has allocated Rs 1,052 billion for the refinance scheme, of which Rs 900 billion has already been utilized. PM Shehbaz emphasized that Pakistan’s long-term economic revival depends on export-led growth and foreign direct investment in export-oriented projects. “There is no other way forward. Export-led growth is the only solution
for Pakistan’s economic future,” he said, adding that FDI would now be encouraged only in projects that generate foreign exchange and strengthen reserves. Paying tribute to exporters, the prime minister said they were the backbone of the national economy and credited their resilience for helping Pakistan
Ahsan Iqbal calls for value addition, export growth under Uraan Pakistan at Gulfood DUBAI
staff report
Federal Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Friday stressed the need for value addition and expansion of exports to achieve economic self-reliance, saying the government was prioritising export-led growth under the Uraan Pakistan initiative. He was speaking during a visit to the Pakistan Pavilion at Gulfood 2026, where he interacted with Pakistani exporters from various food and agrobased sectors. The minister said the government was committed to promoting productivity, quality and innovation so that Pakistani products could compete effectively in international markets. He told exhibitors that “Made in Pakistan” must become a global symbol of quality, with local products gaining visibility on shelves across the world. He encouraged exporters to focus on improving standards, increasing value-added offerings and strengthening branding to expand their international footprint. The minister toured multiple stalls at the pavilion and expressed satisfaction over Pakistan’s strong participation at the global food exhibition. He appreciated the efforts of the Trade Development Authority of Pakistan (TDAP) and Pakistan’s mission in Dubai for organising what he described as a vibrant and well-represented pavilion. Ahsan Iqbal said international exhibitions such as Gulfood provided crucial opportunities for market access, business partnerships and brand promotion, adding that a large number of Pakistani companies were showcasing their products at the event. Highlighting the government’s broader economic direction, he said increasing exports was the foremost national priority under Uraan Pakistan to put the economy on a path of sustainable growth and reduce reliance on external borrowing. He remarked that permanent freedom from dependence on the IMF and foreign debt could only be achieved through sustained export growth. The minister noted with encouragement that many Pakistani companies were shifting towards value-added products, which he said was essential for improving export earnings. During the visit, he also stopped at the Biryani Festival stall set up by TDAP and appreciated the initiative to promote Pakistani basmati rice and national cuisine as part of soft branding and agri-export promotion. TDAP Director General for the Agro Division Athar Hussain Khokhar and Trade and Investment Counsellor Ali Zeb Khan briefed the minister on the pavilion’s arrangements and overall participation. The event was also attended by Pakistan Business Council Dubai Chairman Shabbir Merchant, Rice Exporters Association of Pakistan Chairman Faisal Jehangir Malik and other members of the business community.
navigate past economic crises. He noted that inflation, which had peaked at 32 percent in June 2023, was now in single digits, policy rates were down to 10.5 percent, and foreign exchange reserves had doubled over three years, including support from friendly countries. The prime minister urged banks to
increase lending to small and medium enterprises to promote entrepreneurship and diversify the economy. He also stressed tax compliance, warning industries against withholding consumer taxes, and highlighted government efforts that recovered Rs 50 billion from sugar mills and Rs 125 billion via control of petroleum smuggling. On digital development, PM Shehbaz said the government aimed to boost IT exports from $3 billion to $30 billion within five years, praising Minister Shaza Fatima Khawaja for her efforts. He also recognized Deputy Prime Minister Ishaq Dar and other cabinet members for their role in economic reforms, privatization, and export promotion. Commerce Minister Jam Kamal Khan added that Pakistan was regaining international recognition due to the government’s engagement with the business community. During the ceremony, the prime minister awarded the top 30 exporters and leading bankers for their contributions to the national economy in fiscal year 2024–25.
Dar calls GSP+ vital for strengthening Pakistan–EU trade ties ISLAMABAD
staff report
Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday underscored the importance of the Generalised Scheme of Preferences Plus (GSP+) as a key framework for mutually beneficial trade between Pakistan and the European Union (EU). The EU’s GSP+ scheme provides developing countries with preferential access to European markets in return for commitments to sustainable development and good governance. Beneficiary countries are required to implement 27 international conventions related to human rights, labour standards,
environmental protection and governance, while the EU grants zero-duty access on more than two-thirds of its tariff lines. Pakistan is currently among eight countries benefiting from the scheme. According to a post by the Foreign Office on X, Dar chaired a high-level inter-ministerial meeting to review ways to strengthen Pakistan’s economic and trade relations with the EU. During the meeting, the foreign minister highlighted the need to enhance trade cooperation, explore new avenues for economic engagement and further deepen Pakistan–EU economic ties. “He emphasised that GSP+ remains a crucial framework for
mutually beneficial trade and underlined the need to maximise its potential for Pakistan’s economic growth,” the Foreign Office said. The meeting was attended by the commerce minister, Special Assistant to the Prime Minister Tariq Bajwa, Foreign Secretary Amna Baloch, and senior officials from relevant federal and provincial ministries and departments. A day earlier, Prime Minister Shehbaz Sharif met EU Ambassador to Pakistan Raimundas Karoblis at the Prime Minister’s House in Islamabad. The prime minister reaffirmed Pakistan’s commitment to working closely with the EU on trade enhancement initiatives, particularly through the GSP+ preferential trade scheme.
Finance minister meets new SECP leadership, discusses capital market reforms PROFIT
staff report
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday held a meeting with the new leadership of the Securities and Exchange Commission of Pakistan (SECP) at the Finance Division to discuss priorities for capital market development and regulatory coordination. The meeting was attended by SECP Chairman Kabir Ahmed Sidhu and Commissioner Ali Farid Khawaja, along with senior officials from the Finance Division responsible for debt management, capital markets and regulatory coordination. Welcoming the new SECP leadership, the finance minister expressed confidence that their domestic and international market experience would help strengthen Pakistan’s regulatory framework and support the de-
velopment of capital markets. Discussions focused on aligning priorities to deepen capital markets, diversify financing sources for the public and private sectors, and improve investor confidence through efficient regulation, modern market infrastructure and coordinated policy action. The minister highlighted the government’s integrated reform approach under the Capital Markets Development Council, with finalized terms of reference aimed at shifting from institution-specific reforms to a system-wide market development agenda. He said the objective was to build on progress achieved across market institutions while addressing gaps requiring regulatory reform, legislative support and interagency coordination. Development of the debt capital market was a central theme of the meeting, with emphasis on re-
ducing reliance on banks as the primary source of financing. The finance minister stressed the need to broaden participation by insurance companies, asset managers, pension funds and retail investors, in line with asset-liability management practices. The Finance Division shared updates on efforts to strengthen domestic debt management through improved front, middle and back office functions and liability management operations, noting that further progress would require close collaboration with SECP to expand market depth and efficiency. Participants identified high intermediation and transaction costs as a key constraint, noting that multiple layers between issuers and investors add cost and delay. The meeting agreed on the need to streamline market architecture, improve issuance processes and strengthen secondary market functioning.
41 Indian-sponsored terrorists eliminated in two Balochistan operations RAWALPINDI
staff report
Security forces personnel have eliminated 41 Indian-sponsored terrorists during two operations in Balochistan. According to an ISPR statement issued on Friday, on 29 January 2026, 41 terrorists belonging to Indian proxies, Fitna alKhwarij and Fitna al-Hindustan, were killed in two separate operations in Balochistan. An intelligence-based operation (IBO) was carried out in outskirts of Harnai District on reported presence of Fitna al-Khwarij.
During the conduct of the operation, own troops effectively engaged the hideout, and after an intense fire exchange, 30 Indiansponsored Khwarij were sent to hell. A large cache of ammunition and explosives were also recovered from the slain Khwarij and were destroyed on the spot. Another intelligence-based operation (IBO) was conducted in Panjgur District in which a terrorist hideout was busted and 11 Indian-sponsored terrorists of Fitna al-Hindustan were neutralized. Besides weapons and ammunition, looted money from bank robbery in Panjgur
on 15 December 2025 were also recovered from the killed terrorists. The terrorists were involved in numerous terrorist activities in the past. Sanitization operations were being conducted to eliminate any other Indiansponsored terrorists found in the area. Relentless counter-terrorism campaign under vision “Azm-e-Istehkam” (as approved by Federal Apex Committee on National Action Plan) by the security forces and law-enforcement agencies of Pakistan will continue at full pace to wipe out menace of foreign-sponsored and -supported terrorism from the country, said the ISPR statement.
CDF Munir, Turkish General discuss regional security, boost Pakistan-Turkiye defence ties RAWALPINDI
staff Correspondent
Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Asim Munir on Friday held talks with Turkiye’s Chief of General Staff General Selcuk Bayraktaroglu on regional security and bilateral defence cooperation, the military’s media affairs wing said. According to the Inter-Services Public Relations (ISPR), General Bayraktaroglu was received at the General Headquarters in Rawalpindi, where he was presented with a guard of honour by a contingent of the Pakistan armed forces. During the meeting, the two leaders discussed matters of mutual interest, the prevailing regional and global security landscape, and ways to further strengthen bilateral defence and military cooperation. Both expressed satisfaction with the current trajectory of Pakistan–Turkiye relations and underscored the importance of close coordination between their armed forces. CDF Munir highlighted the longstanding brotherly ties between Pakistan and Turkiye, rooted in shared history, mutual trust, and strong people-to-people connections. He appreciated the support and cooperation of the Turkish armed forces and reaffirmed Pakistan’s commitment to deepening military-to-military relations. General Bayraktaroglu expressed gratitude for the warm reception and praised the professionalism of the Pakistan armed forces. He reaffirmed Turkiye’s commitment to enhancing defence collaboration, including training, joint exercises, and capacity-building initiatives. The ISPR statement concluded that the visit reflects the enduring strategic partnership between Pakistan and Turkiye and their shared commitment to regional peace, stability, and security.
Uncontrolled population growth Pakistan’s ‘gravest challenge’, says CM Murad KARACHI
staff Correspondent
Sindh Chief Minister Syed Murad Ali Shah on Friday described unchecked population growth as one of Pakistan’s most serious social and economic challenges, stressing the need for sustained, evidence-based family planning policies to safeguard the country’s future. He was speaking at “Waqfa – Tawazun Ke Liye”, a programme organised by the Khalil-ur-Rahman Foundation (MKRF) in collaboration with Population Council Pakistan to launch a social and behavioural change campaign on family planning, held at the Hindu Gymkhana’s NAPA Auditorium. The event was also addressed by MPA Nida Khuhro, Population Council Pakistan Country Director Dr Zeba Sathar, UK Deputy High Commissioner Lance Domm and MKRF Managing Director Shahrukh Hasan. Recalling Pakistan’s division in 1971, the chief minister said the country’s population at the time stood at around 62 million, compared to about 70 million in Bangladesh and slightly under 550 million in India. Highlighting demographic changes over the past 54 years, he said India’s population has now reached 1.48 billion, Bangladesh’s 177 million, while Pakistan’s population has surged to 259 million. “India’s population grew 2.7 times, Bangladesh’s about two and a half times, whereas Pakistan’s population increased by 4.2 times,” CM Murad Ali Shah noted, pointing to stark differences in population management. He said that while India and Bangladesh maintained population growth rates close to 1.8 per cent, India still succeeded in keeping its growth rate 1.7 per cent lower than Pakistan’s, reflecting the impact of consistent, longterm policies. The chief minister observed that had Pakistan followed a population growth trajectory similar to Bangladesh since 1971, its population today would have been around 155 million — nearly 100 million less than its current size.