Business
Aurangzeb discusses investments with International Finance Corporation, Islamic Development Bank in Washington
WASHINGTON: Finance Minister Muhammad Aurangzeb on Monday discussed private sector investment, infrastructure financing, and development cooperation in meetings with senior officials of the International Finance Corporation (IFC) and the Islamic Development Bank (IsDB).
The discussions focused on accelerating the IFC’s investment plans, including the Reko Diq project, expediting IsDB-funded initiatives such as the M-6 Motorway, and advancing a new framework to deepen economic collaboration with both institutions.
During his meeting with Riccardo Puliti, the minister highlighted Pakistan’s improving macroeconomic indicators and the importance of strengthening IFC’s partnership with the country. “We value IFC’s role in scaling up private sector investment, particularly through multi-billion-dollar commitments under the 10-year Country Partnership Framework.”
Both sides agreed to work toward early financial closure of IFC’s flagship Reko Diq project, and the minister welcomed IFC’s new regional set-up, including a regional office in Islamabad, describing it as a “significant step to deepen collaboration and support sustainable investment in Pakistan.”
In his meeting with Dr Muhammad Sulaiman Al-Jasser, the finance minister thanked IsDB for its long-standing support to Pakistan and reviewed the current project portfolio. He emphasised the need for faster implementation of ongoing initiatives and welcomed the IsDB Board’s approval of financing for two sections of the M-6 Motorway.
Mr Aurangzeb also discussed continued cooperation in Pakistan’s polio eradication efforts and the oil financing facility, noting that both sides had agreed to develop a new Country Engagement Framework to guide future collaboration.
Published in Dawn, October 14th, 2025
Business
PM Shehbaz announces reopening of new gas connections to domestic consumers
Prime Minister Shehbaz Sharif announced on Sunday the reopening of new gas connections after a ban of nearly four years, state broadcaster Radio Pakistan reported.
His announcement comes less than two months after the federal cabinet decided in September to lift the ban on domestic gas connections and supply regasified liquefied natural gas (RLNG).
Speaking about the cabinet’s decision in a post-meeting press conference, Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry, flanked by Petroleum Minister Ali Pervaiz Malik, had said PM Shehbaz decided to lift the ban on new gas connections imposed in 2021, addressing a longstanding public demand.
Addressing a ceremony related to the resumption of RLNG connections in Islamabad today, the premier reiterated that the government’s decision was in response to the “long-standing public demand”.
“In 2022, there was immense public pressure for [new] gas connections but the government was facing challenges,” Radio Pakistan quoted him as saying.
But, “with this landmark decision, the public will now be able to access affordable and quality fuel,” he added.
“Now, RLNG will be supplied throughout the country to a large number of applicants,” a report by state-run APP quoted him as saying.
According to the reports, a video message by Malik was also played during today’s ceremony, in which the petroleum minister said the government was committed to providing maximum facilities to the public.
He added that the Sui Northern Gas Company had brought down its line losses to 4.93 per cent while earning a profit of Rs29 billion in the previous fiscal year.
Business
Pakistan Engineering Development Board gets new chief
ISLAMABAD: After a gap of nine months, the government has appointed Hamad Ali Mansoor as the new chief executive officer (CEO) of the Engineering Development Board (EDB).
Mr Mansoor’s appointment, in the MP-I scale, is for a three-year term. The position had been vacant since January, and the recruitment process was initiated through an advertisement issued on Nov 17, 2024.
According to the Ministry of Industries and Production, a total of 248 applications were received. Thirty-three eligible candidates were shortlisted and interviewed by the selection committee in February. The committee recommended a panel of three candidates in order of merit: Hamad Ali Mansoor, Akhtar Ahmad Bughio and Shakeel Zahid.
Established in 1995, the EDB functions under the Ministry of Industries and Production to promote, facilitate and regulate the engineering sector in Pakistan.
Mr Mansoor holds an undergraduate degree in mechanical engineering and an MBA from the Schulich School of Business, York University, Toronto. He has over three decades of experience in industrial policy, manufacturing and infrastructure development, with a focus on renewable energy and sustainable growth.
Published in Dawn, October 26th, 2025
Business
PPP reaffirms commitment to farmers
ISLAMABAD: The PPP has reiterated its commitment to supporting the farming community and vowed to continue its struggle to end all injustices faced by the farmers.
“PPP remains committed to respecting, empowering, and reviving the agricultural sector for a prosperous Pakistan,” said the party’s Central Information Secretary Shazia Marri. She quoted PPP Chairman Bilawal Bhutto-Zardari as saying that no economy can be strong if its farmers are weak.
“Chairman Bilawal Bhutto-Zardari believes that strengthening the farmer means strengthening Pakistan itself,” Ms Marri said in a statement issued on Saturday.
Ms Marri said that Bilawal Bhutto-Zardari’s vision was clear — the true measure of progress lies in the prosperity of farmers. She recalled that during the PPP government, Pakistan had moved from wheat shortage to becoming a wheat-exporting country, owing to farmer-friendly policies.
She said that the PPP chairman had always stood by the farmers, advocating for timely procurement and fair prices.
Highlighting the impact of climate change, the PPP leader said that it posed a serious threat to every Pakistani farmer. She added that Bilawal Bhutto-Zardari emphasised the need for investment in sustainable and climate-resilient agriculture, envisioning a modern agricultural economy where small farmers could progress through technology and access to fair markets.
She said the PPP believed that insurance, credit access, and transparent governance were essential to protect farmers from the adverse effects of climate change.
Ms Marri appreciated the government’s decision to allow wheat procurement, terming it a longstanding demand of the PPP. She added that approving the support price for wheat was also a PPP demand; however, she noted that fixing the price at Rs4,000 instead of Rs3,500 per 40kg would have been more beneficial for farmers. She further said that reducing the income tax from 45 per cent to 15pc was an important relief measure for the farming community.
Published in Dawn, October 26th, 2025
-
Tech1 week ago
Decart Brings Real-Time AI To Real-Time Creators At TwitchCon
-
Entertainment6 days ago
Main Manto Nahi Hoon Episode 27 – Fans Feel For Shamraiz
-
Entertainment1 week ago
Mohra Episode 43 – Alizeh & Sikandar’s Track Engages Fans
-
Entertainment2 weeks ago
PISA 2025 Nominations Out | Reviewit.pk
-
Tech2 weeks ago
Realme 15 Series Debuts in Pakistan with AI Edit Genie, Slim 7000mAh Battery, and Triple 50MP Cameras
-
Entertainment2 weeks ago
Angeline Malik Shares Her Cancer Symptoms
-
Tech1 week ago
Pakistani Social Impact Initiative, ‘Dil Se’ Wins Gold at ‘Dragons of Asia’
-
Business2 weeks ago
Shares at PSX rebound, gain 4,600 points in intraday trade