TOP STORIES
- SBP revises equity investment limits for banks and DFIs
The central bank updates Prudential Regulation R-6, setting investment caps for individual companies, startups, mutual funds, REITs and private equity funds. - BOA approves Karachi Industrial Park as federal special economic zone
The Board of Approvals also endorses criteria for government-funded utilities in privately established zones and a long-term land lease policy for public-sector industrial estates in Punjab. - Pakistan, World Bank discuss reforms to boost investment and growth
Finance Minister Muhammad Aurangzeb and World Bank officials discuss sustaining economic stability, improving investor confidence, accelerating privatisation and creating jobs through private-sector-led growth. - World Bank warns Middle East conflict could deepen Pakistan’s economic pressures
Prolonged hostilities could raise energy import costs, widen Pakistan’s current account deficit and erode foreign exchange reserves, while El Niño poses additional risks to agricultural output and growth.
FINANCE
- BOA approves Karachi Industrial Park as federal special economic zoneThe Board of Approvals also endorses criteria for government-funded utilities in privately established zones and a long-term land lease policy for public-sector industrial estates in Punjab.
- Shehbaz Sharif seeks global expertise to accelerate economic reforms
Prime Minister tells Alvarez & Marsal executive that Pakistan is pursuing export-led growth, stronger manufacturing, foreign investment and privatisation to boost economic performance. - Pakistan, World Bank discuss reforms to boost investment and growthFinance Minister Muhammad Aurangzeb and World Bank officials discuss sustaining economic stability, improving investor confidence, accelerating privatisation and creating jobs through private-sector-led growth.
- Pakistan’s external economic stress eases: ICMAP
Pakistan’s External Economic Stress Index fell to -6.12 in August 2026, as stronger global activity, remittances and foreign investment improved the external outlook despite persistent oil price and geopolitical risks.
NATIONAL
- Pakistan discontinues machine-readable passports, switches to e-passports
Passport offices nationwide and Pakistani diplomatic missions abroad will issue only e-passports from October 23, 2026, while existing machine-readable passports remain valid until expiry. - Pakistan inflation surges to 11.85% Year-on-Year, PBS weekly data shows
Weekly inflation rises 0.65% as LPG, chicken and onions become more expensive, while tomato and fuel prices decline. - PM Shehbaz approves restructuring of livestock board
The prime minister orders merit-based appointments, a nationwide foot-and-mouth disease eradication plan and the establishment of a livestock vaccine production plant in Islamabad. - Pakistan raises diesel price by Rs1.91 per litre
Petrol remains unchanged at Rs377.71 per litre, while high-speed diesel rises to Rs393.66 until October 26 under the government’s daily fuel pricing mechanism.
TAXATION
- FBR makes tax registration mandatory for Tax Year 2027
Section 181 of the Income Tax Ordinance 2001 requires taxpayers, including online sellers, to register with the FBR, while e-commerce platforms and courier services must ensure vendors are registered. - FBR updates income tax audit rules for Tax Year 2027
Section 177 of the Income Tax Ordinance 2001 empowers tax authorities to examine taxpayers’ records, conduct electronic audits, use sectoral benchmarks and order specialised audits, subject to prescribed conditions. - FBR empowered to demand tax information and examine records under Section 176
Section 176 of the Income Tax Ordinance 2001 authorises tax commissioners to summon individuals, demand documents and computerised records, and facilitate on-site examinations of taxpayers’ business premises. - NADRA to share citizens’ data with FBR to expand tax base in TY2027
Section 175B of the Income Tax Ordinance 2001 allows NADRA to identify potentially under-reported income, assets and transactions, while using artificial intelligence to estimate indicative tax liabilities.
MONEY & BANKING
- SBP revises equity investment limits for banks and DFIsThe central bank updates Prudential Regulation R-6, setting investment caps for individual companies, startups, mutual funds, REITs and private equity funds.
- MCB Bank reports Rs16.1bn profit in third quarter of 2026
MCB Bank posts 7% year-on-year earnings growth to Rs13.65 per share, announces Rs9 interim dividend and records deposits of Rs3.1 trillion. - Meezan Bank profit rises 27% to Rs25.6 billion in Q3
Meezan Bank reports higher quarterly earnings on deposit growth and improved spreads, while announcing a cash dividend of Rs8 per share. - HBL reports record quarterly profit of Rs19.5 billion
Habib Bank Limited posts 16% year-on-year earnings growth in the third quarter of 2026, supported by stronger fee and foreign exchange income and a reversal of provisions.
TRADE AND INDUSTRY
- Khurram Ijaz warns policy rate hike will further increase cost of production
Calls on SBP to carefully assess inflationary pressures ahead of October 26 monetary policy announcement - Government seeks to double SME financing
Haroon Akhtar Khan urges banks and the State Bank of Pakistan to simplify lending procedures and improve access to affordable credit for small businesses. - Jam Kamal reviews exporters’ concerns to boost Pakistan’s exports
The Commerce Minister reviews energy costs, taxation, refunds, regulatory charges and international market access, seeking practical reforms to improve export competitiveness. - PCDMA urges SBP to cut policy rate to revive economy
PCDMA Chairman Saleem Mukati calls for a single-digit interest rate, saying lower borrowing costs could stimulate industrial growth, trade and employment.
AUTOMOTIVE
- BYD’s ultra-luxury sedan spotted ahead of launch
The upcoming flagship, reportedly priced above 2 million yuan, features an upright front design, coach doors and roof-mounted LiDAR, while its powertrain and battery details remain undisclosed. - KCCI welcomes international safety standards for imported used vehicles
The Karachi Chamber of Commerce and Industry has praised the government’s adoption of 62 international vehicle safety and environmental regulations, calling for effective implementation without unnecessary hurdles for legitimate importers. - Nishat Group signs deal to bring LUXEED premium EVs to Pakistan
The partnership with Chery and Huawei-backed mobility brand LUXEED signals Nishat Group’s expansion into Pakistan’s premium electric vehicle market. - Forthing Friday SUV recalled over drive motor cable defect
Forthing Australia has recalled 263 electric SUVs manufactured in 2026 after identifying a high-voltage cable issue that could cause a sudden loss of power while driving.
IT & TELECOM
- FBR issues procedure for sales tax payment in instalment on imported mobile phones
The new procedure allows eligible individuals to pay sales tax on imported mobile phones in monthly instalments, but missed payments can result in device blocking and immediate recovery of the outstanding amount. - WhatsApp tests dedicated Instagram reels sharing shortcut
The new feature in WhatsApp’s Android beta introduces a dedicated chat attachment shortcut, allowing users to share recently viewed, saved and liked Instagram Reels. - OpenAI partners with Google Cloud to expand AI model access
The partnership will allow enterprise customers to access OpenAI’s latest models through Google Cloud Marketplace and use existing cloud spending commitments to pay for them. - Pakistan, US tech firms urged to shift focus from security to IT
Pakistan-US Tech Connect 2026 brings together 16 Pakistani technology companies and American stakeholders to build partnerships in AI, fintech, cloud computing and digital innovation.