Tuesday, July 22, 2025
Home Blog Page 738

Budget goes green: climate, gender tracking now mandatory

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 09 (APP):The federal government, in a major reform, has overhauled the country’s budget system to track and prioritize climate change, gender equality and sustainable development goals (SDGs).
For the first time, all federal budget documents, including the Annual Budget Statement, Performance Budget Book (Green Book), and Budget Call Circular now include detailed breakdowns of climate and gender-related spending.
According to Economic Survey 2024-25 report, the government has introduced a Climate Budget Tagging (CBT) tool to classify and monitor climate-related expenses.
Over 5,000 federal cost centers have been tagged under three key categories: adaptation, mitigation, and supporting activities, aligned with Government National Climate Change Policy. This allows real-time tracking of climate spending, with reports generated quarterly, mid-year, and annually.
To ensure sustained climate action, the government has set minimum thresholds for climate-sensitive spending, mandating at least 8 percent of regular operational expenditures and 16 percent of the Public Sector Development Programme (PSDP) be allocated to climate-related initiatives.
The finance ministry is now mapping climate-related subsidies and developing a framework to identify green revenue streams, ensuring better fiscal planning for climate resilience.
The new system also integrates gender and poverty considerations into climate expenditure analysis, ensuring that budget allocations support vulnerable groups.
This move is expected to help attract international climate finance and private investments by demonstrating Pakistan’s commitment to sustainable development.
Pakistan faces severe climate threats, from floods to extreme heat, making climate-responsive budgeting crucial.
By embedding climate and gender data into financial planning, the government aims to improve transparency, direct funds more effectively, and meet global climate commitments.

Pakistan plays key role in securing climate finance, justice at COP29

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 09 (APP):Pakistan emerged as a leading voice for developing nations at the UN Climate Change Conference (COP29), pushing for stronger climate finance, adaptation support, and justice for vulnerable countries.
Representing the G77 and China block, Pakistan helped broker key agreements—including a new $300 billion annual climate finance goal and the operationalization of the Loss and Damage Fund—despite resistance from wealthy nations, said Pakistan Economic Survey 2024-25 report issued on Monday.
After intense negotiations, countries agreed on the Baku Finance Goal, setting a target of $300 billion per year by 2035 to help developing nations tackle climate change.
Pakistan and its allies had demanded $1.3 trillion, citing urgent needs, but accepted the lower figure to secure consensus.
Officials noted this covers only 23% of estimated requirements but marks progress in holding developed nations accountable.
Pakistan, still recovering from its $30 billion flood disaster in 2022, played a pivotal role in ensuring the Loss and Damage Fund became fully operational.
The fund, hosted by the World Bank, will begin financing projects in 2025, with initial pledges exceeding $730 million. This marks a major win for climate-vulnerable nations.
A nine-year deadlock on carbon trading rules was resolved after Pakistan pushed for flexible reporting requirements and national control over carbon credits. The deal could cut global climate action costs by $250 billion annually while ensuring transparency.
Pakistan successfully advocated for integrating finance into the Global Goal on Adaptation (GGA), leading to a new Baku Adaptation Road Map to track progress.
On Just Transition, Pakistan argued for a broader approach, ensuring developing nations aren’t forced into restrictive policies. Talks will continue in 2025.
While COP29 delivered key wins, Pakistan emphasized that far more funding and equity are needed to meet global climate targets.
The country’s leadership reinforced its stance that climate action must be fair, inclusive, and backed by real financial support from high-emission nations.

Telecom sector earns Rs 803 bln, attracts $621 million investment in FY2025

By
Zaka Ullah Ch
-
0
ISLAMABAD, Jun 09 (APP):Pakistan’s telecom sector showed strong performance in the first nine months of FY2025 (July–March), generating Rs 803 billion in revenue and drawing US$ 621 million in investment.
According to the Pakistan Economic Survey 2024-25, presented by Finance Minister Muhammad Aurangzeb on Monday, the sector also contributed Rs 271 billion to the national treasury through various taxes and duties.
Despite economic challenges, the Pakistan Telecommunication Authority (PTA) led a series of reforms to ensure that telecom services remain affordable and of high quality across the country. These efforts included improving digital infrastructure, boosting cybersecurity, and encouraging new investments to meet growing user demand.
Thanks to the PTA’s proactive policies, telecom coverage expanded nationwide. By December 2024, Pakistan had 57,063 active cell sites, with 96.2% supporting 4 G. Today, 91% of the population has access to mobile services, and over 81% can access 3G/4G networks.
This widespread access has boosted broadband usage, with 147.2 million subscribers as of March 2025. Broadband penetration has risen to 59.8%, nearly double what it was in 2019 (32.6%).
In a major step forward, PTA opened the 6 GHz spectrum band (5,925–6,425 MHz) for unlicensed use. This move supports the development of Wi-Fi 6E, a next-generation technology offering faster, more stable wireless connections. With this, Pakistan is now among the top 10 Asian countries to adopt this advanced wireless standard.
PTA is also working closely with the private sector to promote the use of modern wireless technologies.
The authority remains focused on ensuring online safety, protecting consumer rights, and building a competitive digital market that can support Pakistan’s long-term economic and technological progress.

PBM disburses Rs 2.91b as IFA schemes

By
Asif Jalal
-
0
ISLAMABAD, Jun 9 (APP): Pakistan Baitul Mal (PBM) disbursed a total of Rs 2,910.7 million to 22,674 beneficiaries under four major Individual Financial Assistance (IFA) schemes between July 2024 and March 2025, as reported in the Economic Survey 2024-25.
The disbursement under the Individual Financial Assistance (IFA) program alone accounted for 44.69 percent of the total funds.
PBM’s IFA scheme extended critical support to the country’s most vulnerable populations, including financial aid for medical treatment, education, and subsistence support for widows, orphans, and the differently-abled.
As outlined in the Economic Survey, medical assistance under the IFA scheme was channeled through government hospitals to provide treatment for life-threatening illnesses. Educational stipends were granted to deserving students enrolled in public-sector institutions, ensuring continued access to education for underprivileged youth.
Under the Special Families Scheme, PBM also supported destitute families, particularly those headed by women or including persons with disabilities, further reinforcing the government’s commitment to inclusive social welfare.

Over 6,000 professionals trained in latest IT skills: Economic Survey

By
Asif Jalal
-
0
ISLAMABAD, Jun 09 (APP): A total of 6,400 professionals were trained in advanced technologies, while certification is in progress for another 3,400 individuals.
According to the Pakistan Economic Survey 2024-25 presented by Finance Minister Muhammad Aurangzeb on Monday, the country made strong progress in building IT skills and industry capacity during the first nine months of FY2025.
The Pakistan Software Export Board (PSEB), working with industry partners, helped place over 2,700 interns in IT companies, with 70% of them being retained after the internship.
Thousands more received essential training through technical and soft skills bootcamps. More than 1,600 fresh graduates also received specialised training through partnerships between universities and industry.
To match student skills with market needs, 9,300 students underwent skill assessments.
To raise the global reputation of Pakistan’s IT and IT-enabled Services (ITeS) companies, 15 firms were supported in obtaining international certifications such as ISO27001 and ISO27701.
Another 20 call centres received help in securing the ISO18295 certification, which improves customer service and quality standards.
These efforts highlight Pakistan’s ongoing commitment to creating a skilled, competitive, and globally connected IT workforce, supporting long-term digital growth.

PPAF supports 260,000 households during droughts: Economic Survey

By
Asif Jalal
-
0
ISLAMABAD, Jun 9 (APP): Pakistan Poverty Alleviation Fund (PPAF) has provided large-scale disaster relief, supporting 260,000 households during droughts, building 120,000 earthquake-resistant homes, assisting 859,000 flood-affected families, and aiding 66,000 households during COVID-19.
According to Economic Survey 2024-25 released on Monday, despite contributing less than 1 percent to global emissions, Pakistan remains highly climate vulnerable. PPAF addresses this through climate adaptation, green jobs, renewable energy, and community resilience aligned with national and global frameworks.
Key achievements include conserving 2.23 million m³ of water, generating 14 MW of renewable energy, planting 130,000 trees, and engaging youth in environmental awareness.
In the 2022-2023 floods, it delivered emergency aid to over 87,600 households, ensuring high beneficiary satisfaction and better access to essential services.
It is pertinent to mention here that PPAF is working to transform the lives of poor to create a more equitable and prosperous Pakistan.

Inflation falls sharply to 4.7% in FY25, lowest in nearly half a decade

By
Asif Jalal
-
0
ISLAMABAD, Jun 9 (APP): The inflation in Pakistan has dropped to 4.7% during July-April FY2025, down from 26.0% in the same period last year and this significant drop marked a major turnaround after back-to-back years of double-digit price increase.
According to Economic Survey 2024-25 of Pakistan released on Monday, the Consumer Price Index (CPI) reduced to 4.7 percent in May-2025 as after peaking at 29.2% in FY2023 and remaining high at 23.4% in FY2024, inflation has now returned to levels last seen in FY2018. The monthly data showed a steady decline—falling from 11.1% in July 2024 to just 0.3% in April 2025, the lowest recorded since 2015.
The incumbent government’s efforts to stabilize prices include administrative steps, relief measures, and tighter fiscal management. These actions of the government helped bring down food and energy prices, improve supplies, and support the exchange rate. The global declines in commodity prices also played a crucial role.
The impact of lower inflation has been felt across major spending categories including Housing, Water, Electricity, Gas, and Fuels which saw inflation of 8.5%, down from 28.4% a year ago.
Meanwhile lower inflation rate was also recorded at restaurants and hotels to 8.2% inflation, down from 28.3% and in the Services sector the inflation dropped to 12.8% from 30.6%, the Education sector stayed high at 11.6%, slightly down from 12.4% last year.
The government’s URAAN Pakistan initiative also supported price stability by lowering production costs and boosting exports, which helped ease pressure on the rupee and import prices.
With inflation slowing, businesses face lower input costs, which can support production and investment. The trend also builds confidence in the economy, creating space for growth and stability in the coming months.

Population growth rate 2.55 percent annually: Economic Survey

By
Asif Jalal
-
0
ISLAMABAD, Jun 9 (APP): According to the 7th National Population and Housing Census 2023, Pakistan’s population was 241.5 million growing at 2.55 percent annually.
According to the Economic Survey 2024-25, in 2023, the male population was 124.32 million (51.5% share) while the female population was 117.15 million (48.5%).
A significant share of Pakistan’s population is young, with 26% aged 15-29 years, while 53.8% fall withinthe working-age group of 15-59 years.
Under the Prime Minister’s Youth Skill Development Programme (PMYSDP), 56,000 individuals have been trained in 39 emerging IT skills, 53 industrial skills, and 34 technical skills.
The program targets domestic and international job markets, including Saudi Arabia, UAE, Gulf countries, the EU,Japan, and South Korea.
Under PMYSDP, 16,000 IT students have been trained and certified National Institute of Population Studies (NIPS) was currently finalizing the population projections at National, Provincial and district levels for 2024 and onwards on the basis of population census 2023. in collaboration with globally recognized IT companies like Google, Microsoft, and Cisco.
Under the PMYSD Programme Batch-I of 362 students has completed training in high-impact IT in 16 FDE colleges with the collaboration of NUST, NUML, and
COMSATS.
The government has expanded the Prime Minister’s Youth Business and Agriculture Loan Scheme by adding new tier-4 to provide financing for laptops and support to prospective overseas workers.
During 2024, the Bureau of Emigration and the Overseas Employment, and the Overseas Employment Corporation registered 727,381 workers for overseas employment.
The MoPHRD issued 65 new licenses to Overseas Employment Promoters, increasing the total
number of active license holders to 2,264, aimed at boosting manpower exports from Pakistan.

ICT exports rise by 23.7%, reaching $2.825 bln in nine months

By
Asif Jalal
-
0
ISLAMABAD, Jun 09 (APP): Pakistan’s Information and Communication Technology (ICT) exports rose by 23.7% in the first nine months of fiscal year 2025 (July–March), reaching $2.825 billion compared to $2.284 billion during the same period last year. This marks a $541 million increase.
The Pakistan Economic Survey 2024-25, presented by Finance Minister Muhammad Aurangzeb, shows the ICT sector had the highest trade surplus among all services, amounting to $2.429 billion—up 21.6% from $1.997 billion the previous year.
The overall services sector saw a trade deficit of $2.318 billion during the same time.
The ICT sector made up 45.31% of total services exports, maintaining its top position. The second-highest contributor was “Other Business Services” at $1.229 billion.
Freelancers from Pakistan added $400 million to the economy during this period.
To promote ICT exports, the Pakistan Software Export Board (PSEB) helped 256 IT companies join 15 international and two local events. This support generated over $48 million in new business. The TechdestiNation Pakistan campaign was expanded to promote the country as a top IT hub. A podcast under the same name was also launched to highlight industry success stories.
To boost long-term exports, the Technology Export Marketing Programme began, focusing on markets like the UAE, USA, and UK. The goal is to reach $15 billion in annual IT exports.
On the infrastructure side, PSEB manages over 50 Software Technology Parks (STPs) and e-Rozgaar centres across cities like Islamabad, Lahore, Karachi, Quetta, Gilgit, and Swat. These centres support over 350 ICT companies and around 4,600 workers, 21% of them women.
PSEB aims to launch 250 e-Rozgaar centres by FY2027, with 50 expected to start operations in FY2025. These will help create 20,000 new jobs and promote digital freelancing and entrepreneurship.
The IT and telecommunications sectors play a vital role in building an inclusive and sustainable economy. It supports innovation, improves productivity, creates jobs, especially for women, and enhances public services.
The government has made digital growth a national priority. It has included E-Pakistan as one of the five main pillars of the URAAN Pakistan initiative.
To support this goal, a strategy is being implemented to improve IT infrastructure, enhance cybersecurity, develop talent, encourage startups, and attract investment.
This strategy also includes using artificial intelligence in sectors like farming, healthcare, and public administration, along with emerging technologies like quantum computing.
Efforts are also underway to make IT services more affordable and available in rural and underserved areas to help lift low-income households and improve their quality of life.
To strengthen international cooperation, Pakistan and China have formed a Joint Working Group on the IT industry (JWG-IT). They plan to work together in areas like infrastructure, cybersecurity, policymaking, and skill development.
This collaboration supports a planned “Innovation Corridor” between the two nations, aiming to boost progress in areas such as cloud computing, AI, and semiconductors.
According to Kearney’s 2023 Global Services Location Index, Pakistan is one of the top global destinations for IT outsourcing. The International Labour Organisation (ILO) ranks Pakistan as the second-largest provider of digital labor, especially in software development and tech services.
Pakistan is also among the top three global suppliers for a wide range of digital tasks, including data entry, creative work, professional services, marketing, and translation.
The country’s main tech hubs are in Karachi, Lahore, and Islamabad/Rawalpindi. Most IT companies serve international clients and use modern tools and techniques for software development and business services.
Pakistan’s ICT firms offer everything from custom software to Business Process Outsourcing (BPO) and serve some of the world’s top companies. Multinational firms like IBM®, Symantec®, S&P Global®, Teradata®, and VMware® have set up research, consulting, and BPO centres in Pakistan. These ventures create high-paying jobs, enhance the country’s global image, and attract foreign investment.
As of March 2025, over 30,000 IT and ITeS companies are registered with the Securities and Exchange Commission of Pakistan (SECP), showing the sector’s rapid growth and economic potential.

SAARC Chambers’ ex-president stresses regional trade promotion

By
Asif Jalal
-
0
LAHORE, Jun 09 (APP): Strengthening regional trade is need of the hour as it is a more effective substitute for achieving comparative advantages in international trade for sustainable economic growth.
Talking to commerce reporters here on Monday, SAARC Chamber of Commerce and Industry’s former president Iftikhar Ali Malik said that South Asian countries can take all the advantages of regional economic integration to enhance their bargaining power in international trade by representing a market that accounts for approximately 25.29 percent of the world’s population.
He was of the view that integration would also make the region more attractive for foreign and local investors, similar to EU (European Union), ASEAN (Association of South East Asian Nations) and USMCA (United States-Mexico-Canada Agreement). Unfortunately, South Asia is currently the least economically integrated region in the world, with regional trade accounting for only about five percent of the total potential trade,he added.
Malik said the potential for intraregional trade in South Asia is estimated to be two times its current level which indicates a significant 67 percent of unrealised trade opportunities.If potentials are exploited, the region could see a benefit of approximately three percent of its GDP.
He said  the primary barrier to increased regional trade is political issues. When political considerations are prioritised over economic benefits, the costs can be significant for the region. As a result, around 40 percent of the world’s poor reside in South Asia, making it the region with the second-highest poverty rate after Africa. He said political leadership must recognise this reality and learn from the experiences of the EU and ASEAN understanding that economic development should not be sacrificed for political gain.
He cited that US and other global leaders in the West share a common goal of  industrial policy (IP) which are state-led government programmes such as trade protection, subsidies, tax incentives and R&D funding –that support strategic industries or sectors which aim to promote the competitiveness of local industry, protect jobs and enhance growth.
1...737738739...28,134Page 738 of 28,134

ABOUT US

Serving the nation since 1947 by providing an accurate, objective, uninterrupted flow of news to the people, the national news service is pursuing a comprehensive strategy to transform the existing news operations into a forward-looking service – APP Digital for its diverse subscriber-base and the public.

Contact us: news@app.com.pk

FOLLOW US

Copyright © Associated Press of Pakistan