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SBP chief highlights economic reforms

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KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmed on Tuesday highlighted the necessary but challenging policy and regulatory measures taken in recent years that have led to macroeconomic stability. He said the country’s economic growth is on the path to recovery and is expected to accelerate further in the current fiscal year.

Speaking at the 9th Annual Microfinance Conference, organised by the Pakistan Microfinance Network (PMN), the SBP governor noted that achieving inclusive economic growth requires enduring macroeconomic stability to uplift communities and secure prosperity for all. The conference, themed “Renaissance of Microfinance”, focused on the role of microfinance in driving inclusive development.

Mr Ahmed pointed to notable improvements in Pakistan’s macroeconomic indicators. Inflation, he said, has declined significantly and is expected to remain within the government’s target range of 5-7 per cent over the medium term, despite potential upward pressure from the recent floods. He also highlighted that the country’s foreign exchange reserves are now almost five times higher than they were in February 2023, thanks to strategic interbank foreign exchange purchases aimed at bolstering reserves. This, he noted, had averted the need for higher borrowing at elevated interest rates for timely debt repayments, improving the country’s debt dynamics.

Says tough measures have yielded stability

Despite temporary setbacks, particularly the losses to agriculture from recent floods, Ahmed said economic growth is expected to accelerate further in FY26. The SBP Governor also outlined several reforms aimed at enhancing the microfinance sector. These include revisions to the Prudential Regulations for Microfinance Banks, shifting from a rules-based to a principle-based approach. The changes remove restrictions on micro-enterprise lending, introduce a new Agriculture and Livestock loan category, and raise loan limits to Rs5 million for agriculture, micro-enterprise, and housing loans, with Rs500,000 available for general loans.

Additionally, the SBP has launched a Climate Risk Fund under the World Bank-funded Resilient and Accessible Microfinance Project. The fund aims to support two million borrowers through liquidity facilities to mitigate climate-related shocks. Furthermore, a Risk Coverage Scheme for small farmers and underserved areas has been introduced, offering 10pc first-loss coverage and operational incentives to expand lending in regions such as Balochistan, Khyber Pakhtunkhwa, Azad Jammu and Kashmir, and Gilgit-Baltistan.

Published in Dawn, October 15th, 2025



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PM Shehbaz announces reopening of new gas connections to domestic consumers

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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.



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Pakistan Engineering Development Board gets new chief

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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



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PPP reaffirms commitment to farmers

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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



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