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
- Pakistan targets $5.5 billion IT exports and $44 billion remittancesFinance Minister Muhammad Aurangzeb says structural reforms, lower energy costs, tax improvements and private investment are central to achieving sustainable, export-led economic growth.
- Pakistan, Canada conclude third round of investment treaty talks
The negotiations aim to establish a transparent investment framework, boost investor confidence and expand Canadian investment in Pakistan’s renewable energy, mining, agriculture and IT sectors. - 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.
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 says only timely filers will be included in ATL
Taxpayers who missed the October 31, 2026, deadline for Tax Year 2026 may face surcharges to enter the Active Taxpayers List, alongside restrictions on refunds and loss adjustments. - Income tax penalties require written orders: FBR
Section 181 of the Income Tax Ordinance, 2001 requires a written order from the relevant tax authority or appellate forum and an opportunity for taxpayers to be heard before penalties are imposed. - FBR prescribes penalties on withholding agents in Tax Year 2027
FBR sets a Rs50,000 penalty for certain late withholding statements, while other defaults may attract fines of Rs2,500 per day, subject to a minimum of Rs10,000. - FBR sets penalties for return filing failure in Tax Year 2027
FBR rules prescribe daily fines for late income tax returns, with minimum penalties of Rs10,000 for eligible salaried individuals and Rs50,000 for other cases.
MONEY & BANKING
- SBP revises capital rules for banks’ mutual fund investments
The revised framework introduces three approaches for calculating capital requirements on fund investments, with banks and development finance institutions required to comply from December 31, 2026. - 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.
TRADE AND INDUSTRY
- Haroon Akhtar chairs task force meeting to boost Pakistan’s exports
The government seeks actionable proposals from leather, sports goods, cutlery and carpet industries to improve competitiveness, revive industrial activity and expand international markets. - 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.
AUTOMOTIVE
- Geely Pakistan launches three new models, prices yet to be announced
The newly introduced lineup includes the Geely EX5 EV, EX2 EV, and Starray EM-R REEV, with specifications highlighting electric performance, driving range, and advanced safety features. - 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 PakistanThe partnership with Chery and Huawei-backed mobility brand LUXEED signals Nishat Group’s expansion into Pakistan’s premium electric vehicle market.
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.