Dawn Business

31/10/2025

The federal government on Friday said it has awarded 23 offshore exploration blocks to four consortiums led by local energy companies, some partnered with foreign firms, including Turkiye’s national oil company Turkish Petroleum Corporation (TPAO), after an 18-year gap.

A recent basin study conducted by the US firm DeGolyer and MacNaughton (D&M) has indicated a significant yet-to-be-found potential of hydrocarbons in Pakistans offshore basins. Building on this encouraging assessment, the Offshore Bid Round 2025 was launched in January with a view to offering blocks that allow companies to undertake systematic exploration efforts to test various geological plays across both the Indus and Makran basins.

In Pakistan’s first such bidding round in nearly two decades, the energy ministry said that the bids were awarded for 23 of 40 offshore blocks offered, covering around 53,500 square kilometres.

Read more: https://www.dawn.com/news/1952380/govt-awards-23-offshore-oil-exploration-blocks-after-18-years

30/10/2025

Indian state-backed refiner HPCL-Mittal Energy has halted purchases of Russian crude after US President Donald Trump imposed sanctions on Moscow’s two largest oil companies, the firm said.

Relations between Washington and New Delhi plummeted in August after Trump raised tariffs to 50 per cent, with US officials accusing India of fuelling Russia’s war in Ukraine by buying Moscow’s discounted oil.

Trump has claimed that Indian Prime Minister Narendra Modi has agreed to cut his Russian oil imports as part of a prospective US trade deal — something New Delhi has not confirmed.

Read more: https://www.dawn.com/news/1952155

29/10/2025

Ruling out loans as a driver of economic recovery, Prime Minister Shehbaz Sharif on Tuesday called for mutual cooperation to support countries like Pakistan that are battered by climate catastrophes.

Speaking during a high-level roundtable discussion at the 9th Future Investment Initiative Conference 2025 in Riyadh, PM Shehbaz said that repeated loans would erode the economic might of such countries, stagnating economic development.

“If humanity had to move forward, it should proceed in unison, share its bounties and grievances together and extend modern technologies with those countries which can use it to grow its production in the areas of agriculture, industry, and employment among others,” he said.

Read more: https://www.dawn.com/news/1951909

28/10/2025

28/10/2025

Pakistan and Saudi Arabia on Tuesday launched the Economic Cooperation Framework, which is based on their shared economic interests and reaffirms their desire to strengthen trade and investment relations, according to a statement from the Foreign Office (FO).

The decision to launch the framework was taken during a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman.

“As part of the framework, several strategic and high-impact projects will be discussed in the economic, trade, investment and development fields that will contribute to strengthening cooperation between the two governments, enhancing the pivotal role of the private sector, and increasing trade exchange between the two countries,” the statement read.

Read more: https://www.dawn.com/news/1951774

27/10/2025

The State Bank of Pakistan (SBP) on Monday decided to keep the policy rate unchanged at 11 per cent.

The policy rate has remained unchanged at 11 per cent since May, even as trade and industry continue to press for a substantial reduction to support economic activity.

Most analysts and researchers had expected the central bank to keep the policy rate unchanged. Bankers and market experts cited two major reasons for maintaining the status quo — the recent floods in Khyber Pakhtunkhwa and Punjab that damaged crops and infrastructure, and rising inflationary pressures.

Read more: https://www.dawn.com/news/1951561

26/10/2025

Prime Minister Shehbaz Sharif will travel to Riyadh from 27 to 29 October to attend the Ninth Future Investment Initiative (FII9), leading a high-level delegation to explore avenues for strengthening economic and investment cooperation with Saudi Arabia, the Foreign Office (FO) said in a statement.

The FII9 will convene global leaders, investors, policymakers, and innovators to explore the theme, “The Key to Prosperity: Unlocking New Frontiers of Growth”. Thematic discussions will address global challenges and opportunities, focusing on key topics such as innovation, sustainability, economic inclusion, and geopolitical shifts.

Read more: https://www.dawn.com/news/1951344

26/10/2025

Pakistan and Iran have agreed to explore new avenues of cooperation in the blue economy by strengthening road, rail and maritime connectivity to facilitate regional trade and promote people-to-people contacts.

The understanding was reached during a meeting between Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and Iran’s Minister for Roads and Urban Development, Farzaneh Sadegh. Both sides underlined the importance of regional connectivity for expanding trade, investment and transport links.

The ministers discussed initiatives to enhance maritime trade, develop port infrastructure and improve logistical routes connecting the two countries by sea, land and rail.

Read more: https://www.dawn.com/news/1951278/tehran-seeks-to-boost-maritime-connectivity-with-pakistan

26/10/2025

The PPP has reiterated its commitment to supporting the farming community and vowed to continue its struggle to end all injustices faced by the farmers.

“PPP remains committed to respecting, empowering, and reviving the ag­­ricultural sector for a pr­­o­s­­perous Pakistan,” said the party’s Central Informa­tion Secretary Shazia Ma­­rri. She quoted PPP Chair­man Bilawal Bhutto-Zar­d­ari as saying that no economy can be strong if its farmers are weak.

“Chairman Bilawal Bhutto-Zardari believes that strengthening the farmer means strengthening Pakistan itself,” Ms Marri said in a statement issued on Saturday.

Read more: https://www.dawn.com/news/1951291/ppp-reaffirms-commitment-to-farmers

24/10/2025

Citizens who have not yet completed biometric verification for their digital bank accounts and wallets may face service disruptions from October 25 as new regulations introduced by the State Bank of Pakistan (SBP) in July take effect.

The regulations, introduced through BPRD Circular No.1 of 2025, had mandated streamlining of account opening and customer onboarding processes by all institutions under the SBP’s regulatory ambit, including Banks, DFIs, MFBs, Digital Banks, and EMIs. As per the circular, issued on July 25, all SBP-regulated entities (REs) need to “streamline the account opening/customer onboarding process and improve the customer experience”.

Read here: https://www.dawn.com/news/1950985/mobile-wallet-and-digital-banking-customers-may-face-disruptions-as-new-sbp-regulations-take-effect

24/10/2025

United States President Donald Trump said on Thursday all trade talks with Canada were terminated following what he called a fraudulent advertisement in which former and late president Ronald Reagan spoke negatively about tariffs.

Trump imposed tariffs on Canadian steel, aluminum and autos earlier this year, prompting Ottawa to respond in kind. The two sides have been in talks for weeks on a potential deal for the steel and aluminum sectors.

Read more: https://www.dawn.com/news/1950946

24/10/2025

Prime Minister Shehbaz Sharif has invited Qatari investors to “explore new avenues of collaboration” under the government’s Special Investment Facilitation Council framework, state broadcaster Radio Pakistan reported on Friday.

The SIFC is body that was set up in 2023 with the objective to assist with foreign investments.

PM Shehbaz invited Qatari investments under its framework during a meeting with Qatar’s Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al Thani in Islamabad today.

Read more: https://www.dawn.com/news/1950945