The Public Sector Development Programme (PSDP) ought to catalyse long-term growth through strategic infrastructure investments, yet its balance sheet is a cautionary tale in capital misallocation. Even though PSDP allocations are capped at Rs1 trillion, the legacy “throw-forward” of already-approved schemes tops Rs10tr. This is worth more than 10 years of PSDP outlays, even if not a single new pro
In the national budget for fiscal year 2025-26, real estate and construction have got some incentives, and key agricultural inputs, including fertilisers and pesticides, have been kept untaxed. Though appreciable under an ideal situation, pampering these sectors without taking enough care of small industrialists and the urban middle class could widen the divide between the ruling elite — with t
The Pakistan Business Council (PBC) has expressed concern about the excessive powers granted to the Federal Board of Revenue (FBR), stating that this anti-business decision will further harm the already poor investment climate. PBC Chief Executive Officer Ehsan Malik, in a letter to Finance Minister Muhammad Aurangzeb, said the powers do not differentiate between major taxpayers and the inform
American entrepreneur Michael Saylor on Sunday lauded Pakistan’s efforts to move towards cryptocurrency and digital assets, according to a press release from the office of the State Minister on Blockchain and Crypto Bilal Bin Saqib. Pakistan is establishing itself as a key player in the global cryptocurrency economy and setting trends rather than following them in the digital currency space, sa
Trade and industry leaders on Saturday strongly criticised the federal and Sindh budgets for the upcoming fiscal year, calling them deeply disappointing and discriminatory towards Karachi, the country’s economic nerve centre. Businessmen Group (BMG) Chairman Zubair Motiwala and Karachi Chamber of Commerce and Industry (KCCI) President Jawed Bilwani expressed serious concerns over the sheer negl