Thursday, October 15, 2026

SECP Chairman Proposes Digital National Agricultural Spot Market to Empower Farmers and Reduce Post-Harvest Losses


The Securities and Exchange Commission of Pakistan (SECP) Chairman, Dr. Kabir Ahmed Sidhu, has proposed establishing a digital national agricultural spot market to connect farmers, warehouses, banks and buyers through standardised grading, transparent bidding and electronic warehouse receipts.

The proposal was presented at the Pakistan Institute of Development Economics (PIDE) conference titled “Mission 100 Billion Dollars”. The initiative aims to improve agricultural marketing, strengthen financing opportunities for farmers and promote greater transparency across Pakistan’s agricultural supply chain.

Under the proposed model, farmers could use stored agricultural produce as collateral to obtain bank financing instead of selling their crops immediately at potentially unfavourable prices. The system could help farmers avoid distress sales, secure better market prices and improve their bargaining power.

The digital marketplace could also help reduce post-harvest losses, strengthen accountability and improve the quality of agricultural produce supplied to domestic consumers and international markets. Standardised grading and reliable electronic records would support greater transparency in transactions and help build confidence among farmers, financial institutions and buyers.

Addressing Pakistan’s Agricultural Storage Gap

The proposal comes amid a significant gap between Pakistan’s agricultural production and its approved storage capacity. According to the figures presented, agriculture contributes 23.44% to Pakistan’s gross domestic product (GDP), while crops are valued at approximately Rs 8.8 trillion.

However, approved storage capacity stands at around 326,000 metric tonnes, compared with an estimated 55.7 million tonnes of dry agricultural production. This disparity highlights the need for modern storage facilities, improved supply-chain management and reliable digital documentation.

The proposed system could initially focus on major crops, including wheat, rice, maize, cotton and sugar, creating opportunities to improve storage, financing and marketing arrangements across important agricultural sectors.

Electronic warehouse receipts could play a particularly important role by providing verifiable records of stored commodities that farmers may use to support financing applications with banks and other eligible financial institutions.

Expanding Pakistan’s Capital Market Participation

Dr. Sidhu also highlighted the importance of broadening participation in Pakistan’s capital market, setting a target of reaching 2.5 million investors in the Pakistan Stock Exchange (PSX).

He emphasised the role of financial literacy initiatives and simpler account-opening procedures in encouraging more people to participate in the formal investment market.

In addition, the SECP Chairman called for an independent legal framework for audit oversight to strengthen financial reporting standards and improve confidence in Pakistan’s capital markets.

The proposed agricultural market, wider investor participation and stronger audit oversight reflect broader efforts to improve transparency, financial inclusion and institutional confidence in Pakistan’s economy.

If effectively implemented, a digital agricultural marketplace could help farmers unlock the financial value of stored produce while supporting more efficient agricultural trade. Its success, however, would depend on adequate storage infrastructure, credible grading standards, reliable digital records, financing arrangements and effective regulatory oversight.

Disclaimer: This report is based on the information provided regarding the SECP Chairman’s remarks at the PIDE “Mission 100 Billion Dollars” conference. Figures, proposals and policy objectives have not been independently verified by the editorial team. The proposed agricultural spot market should not be interpreted as an already operational system or a guarantee of financing or higher crop prices.

Lower Credit Pricing and Soft Collateral for SMEs Can Boost Production, Employment and Exports: Mian Zahid Hussain


President of the Pakistan Businessmen and Intellectuals Forum (PBIF) and All Karachi Industrial Alliance, Chairman of the National Business Group Pakistan, Chairman of the FPCCI Policy Advisory Board, and former Provincial IT Minister, Mian Zahid Hussain, has welcomed Prime Minister Mian Muhammad Shehbaz Sharif’s directive to increase financing for small and medium-sized enterprises from Rs1.1 trillion to Rs2.2 trillion by 2028. The Prime Minister issued the directives while chairing a meeting with the Small and Medium Enterprises Development Authority (SMEDA) in Islamabad on October 12, 2026. Mian Zahid Hussain said the initiative could stimulate industrial production, investment and employment, but achieving the target would require lower credit rates, banking reforms and easier collateral for SMEs.


Mian Zahid Hussain said that, according to the Ministry of Finance, SME financing increased from Rs1.114 trillion in June 2026 to Rs1.137 trillion in September, while the number of borrowers reached approximately 350,862. The increase of Rs23 billion over three months represents positive progress however, achieving the target by 2028 would require an average quarterly increase of approximately Rs118 billion, more than five times the current pace. He urged the government to assign clear targets to commercial banks and ensure digital processing of applications and online monitoring of their quarterly performance.


Mian Zahid Hussain said that prior to the recent meeting, the Prime Minister chaired a meeting in July 2026 and set targets of increasing SME financing to Rs2 trillion and the number of borrowers to 775,000 by June 2028. Following the increase in the financing target to Rs2.2 trillion, the Ministry of Finance and the State Bank of Pakistan should jointly announce revised targets and an implementation plan. He said that approximately 350,000 small and medium-sized businesses currently obtain bank financing, while the earlier borrower target requires the inclusion of more than 400,000 additional businesses. He added that increased financing must reach new enterprises, small industries and underserved areas, particularly businesses in the remote districts of Balochistan, rather than remaining concentrated among existing borrowers.


Mian Zahid Hussain said that comparatively high markup rates on SME financing were a major obstacle to business growth. He stated that the KIBOR currently stood at 11.5 percent, while banks charged an additional spread of 5 to 6 percent on SME business loans, pushing annual borrowing rates to around 17 to 18 percent. He said other countries maintained lower financing costs to enable SMEs to expand, citing rates of 4.5 percent in India, 3 percent in China and 4.5 percent in Vietnam. Such expensive financing in Pakistan makes expansion difficult for businesses operating on narrow profit margins. He urged the government to provide SME financing at six percent below KIBOR, supported by risk-sharing coverage of at least 50 percent, so that small businesses could benefit meaningfully from the initiative.


Mian Zahid Hussain said that concessional schemes offering financing at 5, 7 and 9 percent were available, but their effectiveness must be assessed through the number of businesses served and the financing actually disbursed. Delays in loan approvals, complicated documentation and stringent collateral requirements must be addressed to broaden access. Banks should expand lending based on business cash flows, transaction records and verified supply orders, while the government should strengthen credit guarantee schemes to contain lenders’ financial risks.


Mian Zahid Hussain said SMEDA should provide feasibility studies in local languages and work with the FPCCI and district chambers of commerce to help SME entrepreneurs prepare business plans and maintain financial records. Loan tenors and repayment schedules should reflect businesses’ production requirements. He added that expensive energy, a complicated tax system and delayed payments by large buyers also constrained small business growth. The government must address these issues through coordinated policy measures so that increased financing translates into industrial development, higher exports and additional employment.

Monday, October 12, 2026

Third Solar International Conference and Technology Awards Held in Lahore


Lahore:
The Third Solar International Conference and Technology Awards were successfully held in Lahore, bringing together more than 350 industry professionals and experts from across Pakistan to discuss developments in solar energy, battery energy storage systems (BESS), and the future of renewable energy in the country.

The event was organised by Energy Update in collaboration with the Pakistan Solar Association (PSA) and the Renewable Energy Association of Pakistan (REAP).

Punjab Governor Sardar Saleem Haider Khan, who was the chief guest at the awards ceremony, emphasised the need for a comprehensive government policy to promote the local manufacturing of solar energy systems. He said that encouraging domestic production could generate millions of employment opportunities, provide affordable energy and help the country earn valuable foreign exchange.

Punjab Provincial Minister for Energy Faisal Ayub, the chief guest at the conference, assured participants of the Punjab government's support for the development of the solar energy sector and the commercial use of solar power in the province. Discussions also focused on the reported levy of four paisa per unit on commercial solar power use in Punjab.

Pakistan Solar Association President Adil Mahmood highlighted the contribution of solar energy to Pakistan's electricity supply, stating that solar power was providing approximately 40,000 megawatts of electricity. He also called for the removal of duties on batteries to encourage the adoption of battery energy storage systems and support the expansion of renewable energy.

Energy Update Managing Editor Naeem Qureshi said that solar energy had helped Pakistan save approximately US$6 billion and generated around two million employment opportunities. His remarks highlighted the sector's contribution to reducing energy costs, supporting economic activity and creating jobs.

Industry Experts Discuss Solar Energy and Storage

The conference featured panel discussions involving leading professionals from the renewable energy, power generation, energy storage and technology sectors.

The first panel included Dr. Naveed Arshad, Director of the LUMS Energy Institute; Altaf Hussain, Managing Director of the National Grid Company; Zohaib-ul-Haq, Technical Head of Growatt Pakistan; and Mian Fahad, Regional Head for South Asia at TBEA. Muhammad Zakir Ali, Chief Executive Officer of Inverex Solar Energy, also addressed the gathering.

The discussions focused on the development of solar energy, grid integration, technological advancements and the role of renewable energy in meeting Pakistan's growing electricity requirements.

The second panel was moderated by Dr. Jawaria Shakeel, Director of Sustainability at Assure International. Participants included Hussain Dewan of Dewan International; Joseph Cho, Director of C&I Energy Storage Pakistan; Muhammad Farhan, Chief Executive of Power Highway; Hasnat Khan, Senior Vice President of the Pakistan Solar Association; Maroof Zuberi of AESL; Mitchi, Chairman of Nippon Energy; and Joseph Vho of iTel Energy.

The panel examined developments in energy storage, commercial and industrial solar applications, and opportunities to strengthen Pakistan's renewable energy infrastructure.

Awards Presented to 30 Companies

The event concluded with Governor Punjab Sardar Saleem Haider Khan distributing awards to 30 prominent companies in recognition of their performance and contributions to the solar energy and renewable technology sectors.

The conference provided a platform for industry stakeholders to exchange ideas, discuss policy challenges and explore opportunities for expanding solar energy adoption and local manufacturing in Pakistan.

The event also underscored the importance of supportive government policies, affordable energy storage solutions and collaboration between the public and private sectors in advancing the country's renewable energy transition.

Disclaimer: This report is based on the information provided by the event organisers and supplied source material.

Sunday, October 11, 2026

Karachi despite generating 67 pc revenue, suffers from crumbling infrastructure, water shortages, rampant street crime


KARACHI: Chairman Businessmen Group (BMG) Zubair Motiwala has called for an urgent, coordinated drive to rescue Karachi from its deepening civic and economic crisis, questioning how Pakistan’s economic powerhouse, contributing approximately 67 percent of federal revenue and 54 percent of national exports, continues to suffer from crumbling roads, acute water shortages, unreliable utilities, deteriorating sewerage and rampant street crime. 

Addressing a high-level meeting of patron-in-chiefs, presidents, secretary generals and representatives of Karachi-based trade bodies and industrial town associations, Motiwala demanded time-bound action, institutional accountability and measurable results, stressing that Karachi needs delivery, not promises.
Highlighting the economic cost of civic mismanagement, Motiwala warned that unreliable electricity and gas, inadequate infrastructure and low industrial capacity utilization were driving up production costs and undermining competitiveness. He called for the early completion of K-IV, a fully operational Safe City system, a Karachi Bypass to potentially divert 70 percent of heavy traffic away from the city, mandatory road-restoration guarantees, independent engineering audits and a business-friendly tax regime. He also demanded transparent electricity billing, automatic consumer compensation for service failures, regionally competitive gas prices, digital land records and faster resolution of tax refunds.
Zubair Motiwala proposed identifying five immediate priorities, assigning responsibility to relevant institutions and establishing firm deadlines and measurable performance indicators. He also called for a unified platform of Karachi’s trade and industrial associations, backed by active participation from their members, to press the authorities for corrective action. Emphasizing that the objective was a liveable, secure and economically competitive Karachi, not political or administrative controversy, he urged all stakeholders to replace fragmented efforts and repeated assurances with a coordinated, results-driven strategy.
Vice Chairman BMG Anjum Nisar urged Karachi’s trade and industrial bodies to move beyond highlighting problems and develop a unified, actionable agenda to address the city’s worsening civic and economic challenges. To highlight the awful state of Karachi, he called for a common documentary exposing the city’s ground realities, including corruption, extortion, excessive taxation and deteriorating infrastructure. He advocated permanent solutions to water shortages, completion of the long-delayed K-IV project, and a practical fiscal model empowering local governments with adequate resources. He also proposed joint pre-budget consultations by KCCI and trade associations to formulate common recommendations. He emphasized stronger collective representation before federal and provincial authorities, consistent follow-up and, if negotiations failed, coordinated protest to secure Karachi’s legitimate rights, stressing that the city’s issues must be pursued as a common cause rather than individual organizational demands.
Vice Chairman BMG Jawed Bilwani urged Karachi’s business community to unite behind three to four decisive priorities, warning that the city’s longstanding problems would persist without sustained collective pressure and accountability. He demanded urgent implementation of the Safe City project, stronger action against street crime and land grabbing, protection of public land, and transparent documentation and allocation of Karachi’s revenues to meet its civic and infrastructure needs. Questioning repeated road excavation and reconstruction, alleged resale of public land, missing manhole covers, encroachments on the Lyari and Malir riverbeds and the risk of urban flooding, he called for business community oversight of public works contracts to prevent waste of taxpayers’ money and ensure quality construction. He also proposed a unified response to serious attacks on traders, including the possibility of a citywide shutdown if a trader was killed, and urged KCCI, trade associations, industrialists, transporters and small traders to launch a coordinated campaign through a joint press conference, emphasizing that only a united, evidence-based and uncompromising approach could compel authorities to address Karachi’s critical challenges.
Vice Chairman BMG Mian Abrar Ahmed called for permanent, direct representation of the Karachi Chamber in key government bodies and public-sector institutions responsible for Karachi’s civic infrastructure, utilities and economic development, including the Sindh Assembly, Karachi Metropolitan Corporation (KMC) and K-IV water project. Emphasizing Karachi’s strategic importance and substantial contribution to national revenue, he regretted that the business community remained inadequately represented in decisions directly affecting the city. He warned that corruption and bribery continued to obstruct business operations and argued that occasional meetings could not replace a formal role in decision-making. Backing the KCCI resolution passed on September 30, he stressed that institutional representation would improve transparency, strengthen accountability, provide reliable information and enable business leaders to convey ground realities directly to policymakers, making their meaningful participation essential to resolving Karachi’s longstanding civic and economic challenges.
Vice Chairman BMG Tariq Yousuf identified corruption and the networks facilitating illegal activities as fundamental causes of Karachi’s deteriorating civic conditions, questioning how roads and streets could be occupied by restaurants and commercial establishments, traffic violations tolerated, and illegal electricity connections established without financial arrangements benefiting those involved. He warned that the public ultimately paid the price through traffic congestion, inconvenience and inequitable access to essential utilities, including water, gas and electricity. Calling for decisive action, he urged the business community and relevant authorities to expose and dismantle the mechanisms enabling unlawful occupation of public spaces and misuse of civic resources, stressing that lasting improvement in Karachi’s infrastructure and public services would remain elusive unless corruption was confronted at every level.
President KCCI Talat Mahmood proposed constituting a representative committee of Karachi’s trade and industrial associations to develop an actionable reform agenda within 15 days, warning that further delays could undermine the unity and momentum needed to resolve the city’s longstanding problems. He called for issue-specific subcommittees to prepare comprehensive Terms of Reference (ToRs), regular progress reporting to KCCI and town association leadership, and a united press conference involving industrialists, traders and small businesses to press federal and provincial governments for concrete action. Highlighting Karachi’s persistent infrastructure deficiencies, he demanded a dedicated anti-corruption initiative to investigate complaints involving public offices, including the Sub-Registrar’s Office and Sindh Building Control Authority, citing allegations of substantial unofficial payments despite prescribed fees. Reaffirming the business community’s collective responsibility, he stressed that the approximately 91 percent electoral support received by BMG reflected stakeholders’ confidence and must translate into tangible results through unity, sustained engagement, clear responsibilities and coordinated follow-through.
Deputy Patron-in-Chief of the Korangi Association of Trade & Industry (KATI) Zubair Chhaya called for a coordinated, non-political campaign to resolve Karachi’s worsening civic and economic challenges, stressing that the priority must be implementation and accountability rather than repeated identification of problems. He advocated a dedicated authority to manage the city’s fragmented sewerage system, urgent implementation of the Safe City project, coordinated road and utility works, digitization of land records and decisive action against encroachments, illegal parking and corruption. Warning that untreated municipal and industrial wastewater was damaging marine ecosystems and that pollution threatened public health, he demanded equal enforcement of environmental laws against public and private entities. He also questioned the transparency of Karachi’s revenue allocation, citing the Sindh Revenue Board’s reported collection of Rs372 billion, approximately 95% of which he attributed to Karachi, and estimating annual infrastructure development cess collections at Rs150–175 billion, calling for full disclosure of collections and expenditure. Emphasizing that Karachi’s substantial economic contribution must translate into better civic services, he urged all trade and industrial associations to unite behind practical, prioritized recommendations and demand measurable results from the relevant authorities, irrespective of political affiliations.
MNA Mirza Ikhtiar Baig pledged coordinated parliamentary support to address Karachi’s longstanding civic and economic challenges, congratulating KCCI and BMG Chairman Zubair Motiwala on their electoral victory and collective initiative. Highlighting his engagement through parliamentary committees, he said key projects, including K-IV and the proposed Lyari elevated expressway, had been taken up at the parliamentary level, with efforts underway to address funding gaps. He strongly opposed prolonged area-wide electricity load-shedding that penalizes regular bill-paying consumers for others’ defaults and proposed a meeting involving Federal Minister for Energy Awais Leghari, KCCI, Karachi’s MNAs and K-Electric to pursue on-the-spot solutions. He also called for further engagement on the withdrawal of gas supplies to industrial captive power plants and its implications for production costs and competitiveness. 
Former President KCCI Zakaria Usman urged Karachi’s business community to abandon ceremonial engagements and pursue an assertive, sustained campaign to secure practical solutions to the city’s decades-old problems. Drawing on nearly 40 years of trade politics experience, he stressed that Karachi’s challenges were already well documented and required decisive action rather than further deliberations. He called for an uncompromising campaign against corruption, fraudulent property documentation and land grabbing, highlighting administrative inefficiencies, alleged demands for unofficial payments and prolonged delays in legitimate tax refunds.
Chairman Association of Builders and Developers (ABAD) Hanif Gauher called for a united, uncompromising campaign against extortion, deteriorating law and order, land grabbing and alleged corruption in Karachi’s regulatory institutions, warning that meetings and speeches would achieve little without sustained collective action. He urged KCCI, ABAD and industrial estate associations to strengthen the framework through joint consultation and a focused agenda. Citing security threats to businesses, including the reported killing of a security guard at a builder’s office, he stressed that individual associations could not effectively confront these challenges in isolation.
Leader of Pakistan Cloth Merchants Association Ahmed Chinoy called for a dedicated Implementation Committee under KCCI’s leadership to translate Karachi’s civic and economic reform agenda into measurable results through a time-bound 100-day action plan. Congratulating BMG Chairman Zubair Motiwala on bringing key stakeholders together, he proposed prioritizing issues and assigning responsibilities within the first 15 days, engaging relevant government departments and securing firm commitments by day 30, and systematically monitoring progress from day 31 to day 90. 
President Korangi Association of Trade & Industry (KATI) Sheikh Umer Rehan identified institutional incompetence, weak accountability and administrative failures as fundamental reasons Karachi’s longstanding problems remained unresolved, urging comprehensive reforms, devolution of powers and strict performance-based accountability across public institutions. Drawing on his experience as KATI President in 2019 and following his re-election approximately seven years later, he questioned why the same civic and administrative challenges persisted despite repeated discussions. Criticizing the FBR for placing additional compliance burdens on documented businesses through digital invoicing and surveillance-camera requirements, he called for expanding the tax base, bringing untaxed economic activity into the net and strengthening the tax authority’s own capacity and governance. 
Chairman Pakistan Petroleum Dealers Association Malik Khuda Baksh sought KCCI’s intervention over 15 notices reportedly issued by the FBR to petrol pumps concerning digital invoicing, maintaining that petroleum dealers operate as commission agents and that no legal provision, in his understanding, requires them to issue digital invoices in the manner demanded. Informing participants that the association had already held two meetings with the Chief Commissioner Inland Revenue and had another meeting scheduled with the FBR Chairman on Tuesday, he expressed concern over the compliance burden and sought KCCI’s legal guidance to formulate a unified position. 
President North Karachi Association of Trade & Industry Faisal Moiz urged KCCI to approach the federal government for a streamlined, business-friendly administrative framework for Karachi’s industrial estates, commercial markets and economic hubs, arguing that repeated consultations over six to seven years had failed to resolve the city’s fundamental problems. 
Former President KCCI Abdullah Zaki questioned the effectiveness of engaging authorities over Karachi’s land-grabbing crisis. Urging the business community to abandon fruitless consultations and adopt a firm, united stance, he proposed a boycott if meaningful progress was not achieved within six months.
President Federal B. Area Association of Trade & Industry Raza Hussain urged KCCI and participating associations to translate discussions on Karachi’s civic, administrative and law-and-order challenges into a clear, actionable strategy, identifying the relevant authorities, formal channels for pursuing grievances, assigned responsibilities and effective follow-up mechanisms. 
Chairman Warehouse & Logistics Association Naveed Farooki urged KCCI to institutionalise quarterly or monthly meetings to monitor progress on Karachi’s civic and economic challenges, warning that alleged corruption and demands for unofficial payments by regulatory bodies, including the Sindh Food Authority, EOBI and SESSI, were adding to businesses’ operational costs and mental stress. 
Former President KCCI Iftikhar Ahmed Vohra urged Karachi’s trade and industrial associations to move beyond discussions and unanimously adopt a concrete resolution outlining shared priorities, practical measures and a coordinated strategy to address the city’s longstanding challenges. 
Former President SITE Association of Industry Saleem Parekh urged KCCI to restore and secure business community representation in key institutions, including the Karachi Water and Sewerage Board, K-Electric, Sui Southern Gas Company (SSGC) and Karachi Metropolitan Corporation (KMC), to enable direct engagement on water, electricity, gas and civic issues. 
Representative of Pakistan Hotels Association Ather Bhutto urged Karachi to emulate Shanghai’s transformation through disciplined governance, accountability and long-term infrastructure planning, identifying corruption, water theft and weak public services as major impediments to progress. He called for universal water metering and effective enforcement to improve revenue recovery, development of ring roads and modern transport infrastructure, and provision of basic facilities such as public toilets. 
Concluding the meeting, President KCCI Talat Mahmood proposed resolution to constitute five committees comprising nominees of all participating trade and industrial associations, mandated to finalize actionable recommendations and comprehensive Terms of Reference (ToRs) within 15 days. He further proposed regular progress reviews, close coordination with KCCI and town associations, and a united press conference involving industrialists, traders and small businesses to present the business community’s consolidated demands.

Thursday, October 8, 2026

SECP and CCRA Establish Coordinated Regulatory Framework for Pakistan’s Cannabis Sector


The Securities and Exchange Commission of Pakistan (SECP) and the Cannabis Control and Regulatory Authority (CCRA) have established a coordinated regulatory framework for Pakistan’s medicinal and industrial cannabis sector through the signing of a Memorandum of Understanding (MoU).

The MoU was signed by Muzzafar Ahmed Mirza, Commissioner, SECP, and Asif Haroon, Director (Operations/Licensing/Vigilance), CCRA. The signing ceremony was attended by Dr. Kabir Ahmed Sidhu, Chairman SECP, and Major General (Retd.) Zafarullah Khan, HI(M), Director General CCRA.

Under the new framework, companies intending to include cannabis-related business objects will be required to obtain a No Objection Certificate (NOC) from the CCRA before incorporation. The requirement will also apply where an existing company seeks to make subsequent changes to its principal business objects, directors or shareholding involving cannabis-related activities.

The SECP will oversee corporate registration and associated compliance matters, while the CCRA will remain responsible for sector-specific licensing, regulatory requirements and oversight of cannabis-related activities.

The coordinated framework is intended to provide businesses with a clearer regulatory pathway while strengthening institutional coordination between the two regulators. It also establishes a defined mechanism for ensuring that companies operating in the medicinal and industrial cannabis sector comply with both corporate and sector-specific regulatory requirements.

Wednesday, October 7, 2026

PSBA Annual Dinner Celebrates Leadership Transition and Brokerage Industry’s Growing Role


The Pakistan Stock Brokers Association (PSBA) hosted its Annual Dinner, bringing together members of the securities brokerage industry and representatives from across Pakistan’s capital market ecosystem for an evening of fellowship, appreciation and celebration.

A key highlight of the event was the formal farewell to the outgoing PSBA Board and the welcome extended to the newly elected Board. The occasion provided an opportunity to acknowledge the contributions of the outgoing leadership and to convey best wishes to the new Board as it assumes responsibility for advancing the shared interests and objectives of the securities brokerage industry.

Over the years, PSBA has developed into an important representative platform for the securities brokerage sector. From a focused vision, the Association has expanded its engagement and representation across various segments of Pakistan’s Capital Market.

According to the Association, its role has evolved through active engagement with Capital Market Infrastructure Institutions, government and tax authorities, regulatory forums, and Senate and National Assembly Standing Committees.

PSBA has sought to strengthen the voice of the brokerage industry in discussions concerning policies, regulations and other matters affecting the capital market. Its activities have focused on representation, advocacy, engagement and addressing issues relevant to securities brokers and the wider capital market.

The Annual Dinner also marked a transition between two leadership teams, with the outgoing Board being recognized for its contribution and the newly elected Board taking forward the Association’s agenda.

The gathering underscored the importance of continued collaboration among market participants and institutions to support the development, efficiency and transparency of Pakistan’s capital market.

Disclaimer: This report is based on information available and is intended for general news and informational purposes. It does not constitute investment, financial or legal advice.

Thursday, August 20, 2026

JS Bank’s Mobile App Wins Mobile App Award at Asian Banking & Finance Fintech Awards 2026


JS Bank has won the Mobile App Award at the Asian Banking & Finance Fintech Awards 2026, marking another milestone in the bank’s efforts to promote digital innovation and provide customers with faster, simpler and more convenient banking services.

The recognition highlights the capabilities of the JS Mobile App, which incorporates a range of digital banking features designed to improve the customer experience.

Among its key innovations is JSense, an in-app AI assistant that enables customers to interact conversationally with the application to find information about banking products, services and discounts.

The app also offers Pay in a Blink, a Face ID-based transaction approval feature that allows customers to approve transactions without relying on traditional One-Time Passwords (OTPs). Other digital services include Raast transfers, QR payments and debit card management.

Commenting on the recognition, Basir Shamsie, President & CEO of JS Bank, said the bank has consistently remained at the forefront of technological innovation in Pakistan’s banking industry.

“JS Bank has always been a forerunner in bringing technological innovation to Pakistan’s banking industry,” Shamsie said, highlighting the bank’s initiatives ranging from the country’s first WhatsApp Banking service to its AI-powered JSense assistant.

He added that the bank continues to use technology to make banking simpler and more convenient for customers, describing the award as further recognition of JS Bank’s commitment to driving innovation in Pakistan’s financial sector.

The Asian Banking & Finance Fintech Awards recognise financial institutions and fintech companies across Asia for achievements in financial technology and digital innovation.

JS Bank Limited is a Pakistani public limited banking company incorporated on March 15, 2006. It is a subsidiary of Jahangir Siddiqui & Co. Ltd. (JSCL) and is engaged in commercial banking and related services under the Banking Companies Ordinance, 1962.

Friday, August 14, 2026

PSW, Sindh Board of Revenue Sign SLA to Digitize Stamp Duty Collection


 Pakistan Single Window (PSW) and the Board of Revenue, Sindh (BoRS) have signed a Service Level Agreement (SLA) to formalize the digital collection of Sindh Stamp Duty on cross-border trade declarations through the PSW platform.

The agreement was signed by Naveed Abbas Memon, Chief Domain Officer, PSW, and Nazir Ahmed Qureshi, Member RS&EP, Board of Revenue Sindh.

Under the new arrangement, a dedicated interface will be established for the Board of Revenue Sindh, enabling real-time monitoring of stamp duty collections. The system will also facilitate efficient daily and monthly reconciliation of collections against government receipts.

The digital mechanism is expected to strengthen transparency, visibility and traceability in the stamp duty collection process while improving the efficiency of revenue management.

The partnership also marks a further expansion of the PSW digital ecosystem by bringing additional government processes onto a unified digital infrastructure. The initiative is aimed at supporting greater automation, improved coordination among government agencies and enhanced trade facilitation.

The agreement reflects ongoing efforts to advance digital transformation in Pakistan's trade and revenue systems and create more efficient, transparent and integrated government services.

Wednesday, July 15, 2026

KCCI Clarifies No Extension in FBR Biometric Verification Deadline Under SRO 350


The Karachi Chamber of Commerce and Industry (KCCI) has issued an important circular for its members, clarifying that the Federal Board of Revenue (FBR) has not extended the deadline for biometric verification required under SRO 350.

According to the KCCI, the deadline for completing biometric verification remains July 31, 2026. The Chamber advised members not to rely on unverified reports circulating on social media or other platforms claiming that the deadline has been extended or revised.

The KCCI further stated that the growing number of simultaneous biometric verification requests has placed significant pressure on the system, resulting in server congestion and operational disruptions. To help avoid unnecessary delays and technical issues, members have been advised not to rush the process at the same time.

Instead, businesses and taxpayers are encouraged to complete their biometric verification at their convenience before the July 31, 2026 deadline to ensure compliance with FBR requirements under SRO 350.

The Chamber emphasized that timely completion of the verification process will help members avoid last-minute complications while ensuring smooth compliance with tax regulations.

Monday, February 16, 2026

Mian Zahid Hussain Welcomes Shift Toward Industrial Growth, Urges Swift Implementation

 Prominent business leader Mian Zahid Hussain welcomed Finance Minister Muhammad Aurangzeb’s declaration that Pakistan has moved beyond economic stabilization and entered a phase focused on industrial growth.

Reacting to the minister’s speech at the Pakistan Economic Growth Conference held on Saturday, Mian Zahid Hussain, President of the Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, Chairman of the National Business Group Pakistan, Chairman of the Policy Advisory Board of FPCCI, and former provincial minister for information technology,  said the business community felt reassured by the acknowledgment that the state cannot provide jobs to the entire population and that the private sector must serve as the primary engine of employment.

He emphasized, however, that the promise to extend “all possible resources” to businesses must materialize in the form of reduced energy tariffs and single-digit interest rates. Without these steps, he warned, industrialization would remain a distant dream.

Mian Zahid Hussain particularly underscored the minister’s assurance regarding the Super Tax. He termed the review of the mechanism and the possibility of allowing installment payments a significant confidence-building measure. He urged the Federal Board of Revenue to issue a notification within 48 hours to protect compliant taxpayers from unnecessary harassment.

Highlighting the urgency of relief for exporters, he referred to the finance minister’s commitment to announce concrete measures for the textile sector within 10 to 12 days. While welcoming the timeline, he cautioned that any delay would prove damaging as regional competitors such as India continue to enjoy advantages including duty-free access to Western markets.

The business leader also appreciated the minister’s frank assessment of the IT sector, noting that exports currently stand at around $3–4 billion but could potentially reach $10 billion if the digital ecosystem is facilitated rather than overregulated. He welcomed the invitation extended to sectoral associations for further dialogue in Islamabad in the coming fortnight.

Supporting the government’s firm action against tax evasion, Mian Zahid Hussain cited the recent FIR against a sitting senator in the tobacco sector as evidence of the state’s authority. Nevertheless, he stressed that enforcement should target the vast informal economy and smugglers instead of placing additional burdens on salaried individuals and documented businesses.

He concluded by calling for the proposed Construction Relief Package to prioritize low-cost housing and industrial infrastructure rather than fueling real estate speculation. Such a focus, he said, would help activate dozens of allied industries connected to construction.

“The Finance Minister has spoken the language of the business community in Lahore,” he remarked. “Now the bureaucracy must move swiftly to turn this vision into reality.”