Iftikhar Malik calls for reducing policy rate to single digit

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Wed, 30 Jul 2025, 11:19 PM

LAHORE, Jul 30 (APP): SAARC Chamber of Commerce and Industry former President, Iftikhar Ali Malik Wednesday urged the State Bank of Pakistan (SBP) to gradually reduce the policy rate and bring it down to a single digit.

In a media statement issue here, he highlighted that reducing the policy rate would enable businesses, especially small and medium enterprises (SMEs), to access loans at lower costs. This would boost economic activity, create employment opportunities, and enhance exports. He stressed that the current high-interest rate is non-lucrative to investment and places an excessive financial burden on industries already struggling with inflation and economic challenges.

He urged policymakers to adopt business-friendly monetary policies to support local industries and promote economic stability.

He also pointed out that regional competitors offer lower borrowing rates, making Pakistani industries less competitive in the global market.

Calling for a gradual reduction, Iftikhar Ali Malik suggested that lowering the policy rate would restore investor confidence and attract foreign direct investment (FDI). He reiterated that a stable and growth-oriented economic policy is crucial for Pakistan’s economic revival and long-term sustainability.

Highlighting Pakistan’s struggle with inflation, sluggish growth, and low industrial productivity, he noted that accessible credit could spur sectors like manufacturing, agriculture, and exports, which are critical for economic stability. He suggested that Pakistan should adopt global approach and a similar strategy to counter rising input costs and stagnant demand.

Malik argued that high borrowing costs under the current monetary policy have stifled business expansion, hampered job creation, and limited access to affordable financing for industries, particularly small and medium enterprises (SMEs). He emphasized that lowering the policy rate would reduce loan costs, enabling businesses to invest in modernization, scale operations, and enhance competitiveness amid persistent economic challenges.

Tanveer highlights future prospects of Pakistan-Morocco relations

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NNPS Desk

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Wed, 30 Jul 2025, 11:15 PM

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ISLAMABAD, Jul 30 (APP): Minister for National Food Security and Research Rana Tanveer Hussain Wednesday commended Morocco’s remarkable strides in sustainable development, regional cooperation, and governance.

The minister addressed a reception hosted by the Embassy of the Kingdom of Morocco in Islamabad to celebrate Morocco’s National Day, said a press release.

The Minister extended warm greetings and heartfelt felicitations to His Majesty King Mohammed VI, the Government of Morocco, and the Moroccan people on behalf of the Government and people of Pakistan.

He termed the National Day a symbol of Morocco’s rich heritage, national pride, resilience, and steady journey towards progress and peace.

He underlined the historical, cultural, and religious bonds between Pakistan and Morocco.

He noted that diplomatic ties between the two brotherly countries, established in 1958, have evolved into a strong partnership based on mutual respect, solidarity, and shared values.

He appreciated Morocco’s consistent support to Pakistan on issues of importance at international forums and reiterated Pakistan’s firm support for Morocco’s sovereignty, stability, and territorial integrity.

The minister stressed the need to expand bilateral cooperation in key sectors such as textiles, agriculture, leather, pharmaceuticals, and information technology.

He highlighted that bilateral trade remains far below its potential and needs to be explored further.

Referring to Morocco’s global leadership in phosphate production and fertilizer manufacturing, the minister proposed deeper collaboration in agriculture, food security, and agri-tech innovation to boost Pakistan’s agricultural resilience and productivity.

He also emphasized the importance of enhancing academic and cultural exchanges, suggesting student exchange programs and joint research between institutions of higher learning.

He praised Morocco’s efforts in promoting interfaith harmony and cultural dialogue, calling it aligned with Pakistan’s vision of peace and coexistence.

He further acknowledged Morocco’s achievements in renewable energy and stressed the value of cooperation on climate change adaptation and green technologies.

The minister expressed his appreciation for the role of the Embassy of Morocco in Islamabad, particularly under the leadership of Ambassador Mohammed Karmoune, in promoting bilateral relations.

He stated that Morocco and Pakistan share a brotherly relationship with vast untapped potential, and both nations must work together to expand cooperation for mutual benefit.

Concluding his remarks, the minister reaffirmed Pakistan’s commitment to further strengthening the friendly ties with Morocco and expressed his optimism that both countries would continue to work closely for regional and global peace and prosperity.

Kyrgyz delegation led by deputy PM visited KPT

By

Kamran Muraad

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Wed, 30 Jul 2025, 11:14 PM

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KARACHI, Jul 30 (APP): A 10 member of Kyrgyzstan Delegation led by their Deputy Prime Minister Edil Baisalov visited Karachi Port Trust Head Office (KPT) on Wednesday with an objective to explore business opportunities. A briefing was given to the delegation about the infrastructure, facilities, port projects and the port expansion development plan during the occasion which was chaired by the Transition Management Committee (TMC) member Abdullah Zaki. It was also attended by all the senior and middle management officers of KPT.

The delegation led by Edil Baisalov has taken keen interest in the port projects and the overall Karachi Port Development Plan featuring real estate projects and port expansion projects like Edible Oil & Chemical Terminal, Clean Bulk Cargo Terminal, Maritime Business District project, LNG Terminal, etc.

During the occasion the Deputy Prime Minister H.E Edil Baisalov informed and offered to establish joint ventures with Pakistan. He said that his country has potential in various sectors like energy and infrastructure, cooperation in agriculture, education, healthcare, tourism and information technology from which the business community of Pakistan can take advantage. At this juncture, the TMC informed about the ferry service project that KPT plans to launch to nurture fruition of the Blue Economy and Maritime Tourism in Pakistan. The KPT General Manager Real Estate Development Brig. Muhammad Younis informed the delegates about launching Maritime Business District which will provide land to businesses associated with the Maritime Sector whether they are insurance companies, financial institutions, logistics and supply chain sectors or are interested in establishing warehousing facilities with ample space for all.

The proceeding at KPT Head Office concluded with the exchange of Crest followed by a group photo. Later, the delegation also visited the SAPT terminal for witnessing the container handling facilities of the port. The CEO of SAPT C. S. Kim briefed the delegates about their facility while showing the 3D Model and Computerized Automated Handling of containers during the occasion to conclude the proceedings of the day.

NPC, CDA launch one million tree plantation drive under ‘Green Islamabad’ campaign

By

Kamran Muraad

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Wed, 30 Jul 2025, 11:12 PM

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ISLAMABAD, Jul 30 (APP):The National Press Club (NPC) and the Capital Development Authority (CDA) have jointly launched an ambitious plantation drive under the “Green Islamabad” campaign, aimed at planting one million trees over the next three years to combat climate change and protect the capital’s natural environment.

NPC, CDA launch one million tree plantation drive under ‘Green Islamabad’ campaign

CDA Chairman Muhammad Ali Randhawa inaugurated the campaign by planting a sapling on the NPC lawn during a ceremony attended by senior journalists, CDA officials and NPC leadership, said a press release on Wednesday.

A memorandum of understanding (MoU) was signed between NPC President Azhar Jatoi and CDA Director General Environment Awais Manzoor Tarar in this regard.

Speaking at the event, CDA Chairman Randhawa said the campaign aligns with Prime Minister Muhammad Shehbaz Sharif’s vision to make the capital, a clean and green city.

“This plantation drive, along with the electric bus service, is part of our broader environmental agenda to reduce pollution and enhance Islamabad’s green cover,” he said.

He emphasized collective responsibility in maintaining the beauty of Islamabad, urging all institutes to put their efforts in this drive.

He also proposed that every guest visiting the NPC should plant a sapling.

Randhawa highlighted ongoing public transport initiatives as part of this campaign, including the deployment of 160 electric buses to curb air pollution.

He also underscored the modern key features in these buses.

He added that revenue generated through advertisements on buses will be used to reduce passenger fares.

The President of Pakistan Federal Union of Journalists (PFUJ) Afzal Butt, who also addressed the gathering, appreciated the CDA chairman for taking key steps to eliminate environment related issues of the city.

Journalists present at the event also shared their recommendations and suggestions.

Punjab emerging as global role model, investment hub: Abuzar Shad

By

Kamran Muraad

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Wed, 30 Jul 2025, 10:53 PM

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LAHORE, Jul 30 (APP):Lahore Chamber of Commerce & Industry (LCCI) President Mian Abuzar Shad said on Wednesday that Punjab is emerging as a global role model and investment hub due to Chief Minister Maryam Nawaz’s revolutionary reforms.

Talking to media here, he remarked, “Punjab is swiftly transforming into a global role model for international investors, thanks to the visionary leadership and revolutionary development initiatives by Punjab Chief Minister Maryam Nawaz.”

The LCCI President extended heartfelt congratulations to the Chief Minister for her commitment to inclusive development, rapid execution of projects and people-centric governance that reflects international standards.

He said that under her leadership, the Punjab government has launched wide-ranging and impactful reforms in key sectors including infrastructure, health, education, agriculture, water supply and transport which are making Punjab a progressive and investor-friendly province.

“Chief Minister Maryam Nawaz deserves full credit for transforming Punjab into a modern province where public welfare remains at the core of all development priorities,” Mian Abuzar Shad added.

While highlighting the remarkable strides in healthcare, he said that mobile clinics, upgraded health units, free medicine in public hospitals and special cardiac care facilities are making quality medical care accessible for all. These reforms speak volumes about the government’s sensitivity to human health and its commitment to improving public services.

The LCCI President also praised the roads from farm-to-market which has significantly improved the cost-effective transportation of agricultural produce and benefiting both farmers and buyers. Construction and repair of roads in urban and rural areas have enhanced connectivity and catalyzed commercial activity.

He said that investments in improving traffic flow through flyovers, underpasses and upgrades to the mass transit system, not only saving time and fuel but also promote environmental sustainability and economic efficiency. Smooth transportation of commercial goods has accelerated trade and commerce throughout the province.

In the agriculture sector, the LCCI President appreciated subsidy schemes, the launch of Kisan Cards, access to modern machinery and real-time information via digital platforms. These steps, he said, are empowering small farmers and bringing them into the fold of modern, profitable agriculture.

Mian Abuzar Shad said Punjab’s push for education is encouraging, citing that upgrade of schools and colleges, provision of free books, teacher training and focus on girls’ education has laid the foundation for a brighter, knowledge-driven future. The introduction of transport services and scholarships for female students has already led to a rise in enrollment.

Mian Abuzar Shad also lauded the revival of clean water supply projects and improvements in drainage systems, ensuring that both urban and rural populations have access to safe drinking water—an essential but long-neglected basic necessity.

He said CM’s focus on women empowerment and youth uplift, business support, financial aid, training and skill development would go a long way and inject new energy into the provincial economy.

Mian Abuzar Shad gave special acknowledgment to the Chief Minister’s efforts in creating a business-friendly environment through One Window Operations, revival of industrial zones and simplified business registration processes, which have helped restore both local and international investor confidence.

He said that Lahore Chamber of Commerce and Industry stands shoulder to shoulder with the Punjab government and will continue to play an active role in realizing the shared vision of a prosperous, modern and economically vibrant Punjab.

Coordinator to PM on Commerce inaugurates 2nd RCCI Med-Health Expo, Summit 2025

By

Kamran Muraad

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Wed, 30 Jul 2025, 10:49 PM

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ISLAMABAD, Jul 30 (APP):Rana Ihsaan Afzal Khan, Coordinator to the Prime Minister on Commerce, attended the 2nd RCCI Med-Health Expo and Summit 2025 as the chief guest here at the Pak-China Friendship Center.

The two-day event, organized by the Rawalpindi Chamber of Commerce and Industry (RCCI), serves as a dynamic platform for healthcare professionals, industry leaders, and policymakers to explore innovations and new opportunities within Pakistan’s rapidly evolving health sector, said a press release issued here.

Addressing the participants, Rana Ihsaan Afzal Khan lauded RCCI’s efforts in promoting sector-specific exhibitions and appreciated its role in fostering dialogue between public and private stakeholders.

He emphasized the critical importance of the healthcare industry in national development and economic growth.

The Coordinator also visited various stalls at the expo, interacted with exhibitors, and stressed the need to boost exports of health-related products and services from Pakistan.

He reiterated the Ministry of Commerce’s commitment to support such initiatives and said the government is focused on enhancing trade and investment policies to improve Pakistan’s economic indicators.

The expo is seen as a vital step in bridging gaps between innovation, investment, and implementation in the health sector, with a strong emphasis on positioning Pakistan as a competitive player in global healthcare markets.

SBP governor confident to settle $25.9 billion external debt repayments comfortably in FY26

By

Kamran Muraad

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Wed, 30 Jul 2025, 10:48 PM

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KARACHI, Jul 30 (APP): Pakistan with its rising forex reserves and promising outlook, is financially in a comfortable position to manage external debt repayments of $ 25.9 billion during fiscal year 2025-26, said Governor State Bank of Pakistan, Jameel Ahmed.

Addressing a press conference on Wednesday held here for announcement of monetary policy decisions, Jameel Ahmed informed that State Bank FX reserves which closed at $14.5 billion with an increase of $5 billion in the outgone year are projected to rise to $15.5 billion by end of the December 2025 and a target has been set to increase the reserves to $17.5 billion by end of the fiscal year 25-26. Potential inflows from Euro Bond and other resources may further inflate the reserves, he added.

The central bank has to settle external debts amounting to $26 billion- comprising $22 billion of principal and $4 billion interest- during the FY25-26 through roll overs of $16 billion and repayment of $10 billion, he informed, adding that our foreign exchange reserves are sufficiently more than volume of repayable external debt and we will not face any difficulty in repayment.

The total public debt in FY25 remained at around $ 100 billion, a level being successfully maintained from June 2022 and no debt burden has been added during the past three years while maintaining a balance in repayments and new debt and changing the composition of acquired loans, SBP Governor said.

Among the external debt, the share of long term and low cost multilateral loans, received from World Bank, Asian Development Bank and other development partners, was 43% in FY22, and it has been raised to 50% in FY25, he stated, adding that change in composition of debt will result into lower interest rate, extended repayment periods and improved repayment capacity.

Revival of the national economy reflected by increasing forex reserves, current account surplus, declining inflation and upgraded global ratings has enhanced Pakistan’s credibility and our bonds are trading at premium in the international financial market, the SBP governor explained, maintaining that it would further enhance debt management capacity and new loans could be borrowed at lower rates.

The SBP Governor stated that economic growth has started picking up in FY24 with a 2.7% increase and this year we are projecting GDP growth in the range of 3.25 to 4.25 percent and workers remittances are expected to surge above $40 billion, while current account will range between a fair balance at 0% to a deficit of 1% owing to surging imports.

US President imposes a 25% tariff on goods imported from India

By

Kamran Muraad

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Wed, 30 Jul 2025, 10:44 PM

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ISLAMABAD, Jul 30 (APP):President of United State of America (USA), Donald Trump has imposed a 25 per cent tariff on goods imported from India starting August 1, in addition to a penalty for purchasing Russian weapons and oil.

In a post on his social media handle on Wednesday, Donald Trump said, “Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world and they have the most strenuous and obnoxious non-monetary trade barriers of any country. Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine — all things not good! India will therefore be paying a tariff of 25pc, plus a penalty for the above, starting on August 1st.”