TOP STORIES
- Pakistan plans gas sector restructuring to curb circular debt and attract investment
Finance Minister Muhammad Aurangzeb reviews a phased deregulation roadmap aimed at improving efficiency, addressing gas-sector liabilities and protecting consumers. - Pakistan’s economy grows 3.65% in FY26, highest in four years
National Accounts Committee reports four-year-high annual GDP growth, but a sharp industrial contraction drags fourth-quarter expansion to a six-quarter low of 2%. - IRSOA abruptly calls off nationwide strike, admits announcement was premature
Inland Revenue Service officers withdraw their planned October 19 pen-down strike after FBR leadership assures them that the Service’s interests will be protected during restructuring. - FBR faces nationwide revolt as IRS officers announce pen-down strike on October 19Inland Revenue Service officers threaten firm, collective and lawful resistance to FBR restructuring, accusing the authorities of risking institutional fragmentation, wasting public money and undermining specialist tax administration.
FINANCE
- Pakistan’s economy grows 3.65% in FY26, highest in four yearsNational Accounts Committee reports four-year-high annual GDP growth, but a sharp industrial contraction drags fourth-quarter expansion to a six-quarter low of 2%.
- Pakistan explores new Sukuk and financing options
Finance Minister Muhammad Aurangzeb discusses debt management, economic stability and diversified funding opportunities with Ajman Bank during the World Bank-IMF meetings in Bangkok. - Aurangzeb discusses financing partnership with Sharjah Islamic BankPakistan explores Sukuk issuance, Panda bonds and innovative financing instruments as the government seeks to reduce short-term borrowing costs and extend debt maturities.
- Aurangzeb discusses economic reforms and financing strategy with US Treasury official
Aurangzeb briefs US Treasury official on Pakistan’s economic reforms, $3 billion Eurobond issuance, financing diversification and plans to achieve a BB sovereign credit rating.
NATIONAL
- NEPRA to hear Rs2.56 per unit electricity price hike for September FCA
NEPRA will hold a public hearing on October 29 to consider CPPA-G’s request for a Rs2.5624 per unit fuel charges adjustment, which would also apply to K-Electric consumers. - Pakistan reduces petrol price by Rs3.93 per litre for next three days
Petrol falls to Rs386.30 per litre from October 17 to 19, while high-speed diesel remains unchanged at Rs396.96 amid volatility in global oil markets. - NA approves parliamentary committee for electoral reforms
The proposed committee will include members from both Houses of Parliament and recommend legal and technological changes to ensure free, fair and transparent elections. - Pakistan’s weekly inflation rises 11.38% year-on-year
The Sensitive Price Indicator declined slightly in the week ended October 15, as lower tomato, onion and banana prices offset increases in flour, chicken and pulses.
TAXATION
- FBR Chairman urges exporters to expand Pakistan’s global market reach
Rashid Mahmood Langrial promises meetings with major exporters as KATI calls for tax reforms, smoother digital invoicing and action against smuggling. - Hyderabad Customs seizes 20,000 litres of petrol, diesel
Pakistan Customs detains three oil tankers carrying petroleum products worth an estimated Rs40 million after detecting tracking and documentation discrepancies. - Issuing withholding tax certificate mandatory in Tax Year 2027
FBR requires withholding agents to provide tax deduction certificates and payment receipts to taxpayers, while return filers must attach the relevant receipts to their income tax returns. - Recovery of tax under Section 162 in Tax Year 2027
FBR explains how unpaid withholding tax can be recovered directly from the person who should have paid it, while the person responsible for failing to deduct tax may face additional legal consequences.
MONEY & BANKING
- SBP adopts AAOIFI Shariah standard for Tawarruq transactions
The State Bank of Pakistan adopts AAOIFI Shariah Standard No. 30 with immediate effect to strengthen Shariah compliance and harmonise Islamic banking practices. - SBP may increase policy rate by up to 100 basis points: Survey
Topline Securities’ poll shows 61% of market participants expect an interest rate hike on October 26, with rising oil and food prices fuelling inflation concerns. - UBL reports 13% fall in third-quarter profit to Rs30.7 billion
United Bank Limited’s third-quarter profit declines from Rs35.4 billion a year earlier as rising operating expenses weigh on earnings, despite stronger non-interest income and an unchanged Rs8 per-share dividend. - Pakistan’s foreign exchange reserves rise to $26.86 billion
Pakistan’s total foreign exchange reserves increased by $65.9 million week-on-week to $26.86 billion as of October 9, 2026, supported by higher holdings at both the State Bank of Pakistan and commercial banks.
TRADE AND INDUSTRY
- EU envoy urges Pakistan to diversify exports beyond textiles
EU Ambassador Raimundas Karoblis calls for export diversification, stronger labour compliance and greater European investment as Pakistan prepares for the next GSP+ cycle. - Pakistan’s textile exports rise by 5.26% in 1QFY27
Pakistan’s textile exports reach $5.03 billion in July–September FY2027, driven by strong growth in ready-made garments, cotton yarn and towels. - PM Shehbaz orders action plan to revive Pakistan’s gemstones sectorGovernment earmarks Rs1 billion for sector development as eight new exploration blocks are identified and Centres of Excellence are planned.
- KCCI lambasts K-Electric over prolonged power outages in Karachi
KCCI President Talat Mahmood warns that prolonged outages, reportedly reaching 14 hours in some areas, are threatening industrial output, exports and livelihoods.
AUTOMOTIVE
- Xiaomi SU9 LUX trademark fuels speculation about new flagship sedan
Xiaomi’s latest trademark filing points to a potential luxury sedan with an extended wheelbase, advanced steering technology and enhanced rear-seat comfort. - Tesla Roadster unveiled with three variants and flying technology
Tesla introduces Performance, Thrust and Rocket versions of its next-generation electric sports car, featuring extreme acceleration, advanced aerodynamics and experimental airborne capabilities. - Yadea eyes Punjab factory to expand Pakistan’s electric bike industry
The Chinese electric two-wheeler manufacturer is exploring local production in Punjab, with the proposed facility potentially catering to domestic demand and export markets. - Geely Pakistan reveals launch date of electric cars in Pakistan
Bestway Automotive is preparing to introduce the Geely EX2 electric hatchback and EX5 electric SUV in Pakistan on October 24, 2026, marking the brand’s entry into the local EV market.
IT & TELECOM
- JazzCash wins silver award for InsurTech innovation at Money20/20 USA 2026
Pakistan’s digital financial services platform secures its second consecutive Silver Award, with its Sehat+ health-protection service recognised for expanding affordable insurance access. - Honor Win2 series teased with 2K 185Hz displays
Honor’s upcoming gaming-focused smartphones will feature ultra-high refresh-rate screens, active cooling and batteries of up to 12,070mAh. - Verizon to charge $10 monthly for Apple’s iPhone Handoff feature
The service will let users share one phone number between two iPhones, but Verizon’s fee is twice T-Mobile’s monthly charge. - Mercedes and Nvidia target Level 4 autonomous driving technology
The companies are extending their partnership to develop a next-generation driving system designed to handle driving tasks without human intervention under defined conditions.