logo
Punjab Budget to boost business, digital finance: Minister

Punjab Budget to boost business, digital finance: Minister

LAHORE: Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman has said the upcoming provincial budget will feature enhanced allocations for business development, trade facilitation and digital financial infrastructure, reinforcing the government's commitment to economic transformation.
He expressed these views while addressing the Second TiGap Business Excellence Awards 2025, celebrating the outstanding contributions of Pakistan's business leaders and institutions to the national economy. The Trader Ittehad Group (All Pakistan) and Events Business jointly organised the event.
The Minister observed that Punjab's business community is no longer surviving; it is preparing to lead. 'The Punjab government was laying the foundation of an economy where innovation, integrity and hard work were the true engines of progress,' he lauded the entrepreneurial spirit, resilience and innovation of the country's business community. 'Our business sector is the backbone of the economy, and it continues to drive national development with determination and vision,' he added.
Highlighting the Punjab government's pro-business initiatives, he said that a transparent, consultative and innovation-driven business environment is being actively cultivated across the province. 'The current leadership in Punjab has moved beyond traditional governance. Today, we are empowering youth, expanding economic opportunities, and embracing the digital age,' he added.
He cited initiatives such as 'Startup Punjab', interest-free loans for women, modern industrial zones and smart tax reforms as key pillars of the government's economic agenda.
Applauding the performance of the PML-N government in Punjab over the past 15 months, he said the province was now offering interest-free loans to promote small and medium enterprises (SMEs). 'Punjab is the only province extending such large-scale financial support, with a focus on real, inclusive growth,' he noted. 'These are not mere announcements, they represent a system where business voices are heard and integrated into policy.'
Speaking on the recent tensions between Pakistan and India, the Minister praised the valour and strategic acumen of the Pakistan Armed Forces. 'The entire nation salutes our brave defenders who foiled the enemy's designs with exemplary courage. Their success is a source of pride for every Pakistani,' he added. He also acknowledged the national unity demonstrated during this critical time as Pakistan's greatest strength.
Copyright Business Recorder, 2025
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Jawad Ahmad releases new patriotic anthem ahead of 78th Independence Day
Jawad Ahmad releases new patriotic anthem ahead of 78th Independence Day

Express Tribune

time2 hours ago

  • Express Tribune

Jawad Ahmad releases new patriotic anthem ahead of 78th Independence Day

Renowned Pakistani singer, Jawad Ahmad, has released a new song to mark Pakistan's 78th Independence Day. The song, which aims to inspire the nation, highlights the importance of patriotism and unity for all the people living in Pakistan. The anthem, created by the leader of the Barabri Party Pakistan, presents a unique perspective on national pride. It emphasises the value of the homeland and underscores the collective responsibility of citizens towards their country. Ahmad's powerful voice brings the song to life, with direction by Dilwaiz Ali Khan. The music for the anthem was composed by Sajid Hussain and Faisal Iqbal. The song begins with themes of courage, strength, determination, passion, and hard work, encapsulated in the powerful words "This is my country, these are my people." The lyrics of the anthem portray the spirit of Pakistanis, urging them to live fearlessly like eagles, fight bravely like lions, and stay united in love and defence of their homeland. The song serves as a reminder of the sacrifices made for the country and the importance of standing together as one nation.

Rupee gains further against US dollar
Rupee gains further against US dollar

Business Recorder

time10 hours ago

  • Business Recorder

Rupee gains further against US dollar

Rupee's Performance Against US Dollar Since 04 March 2025 The Pakistani rupee maintained its upward momentum against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday. At close, the currency settled at 282.42, a gain of Re0.03. On Monday, rupee closed at 282.45. Internationally, the US dollar held steady on Tuesday, with markets braced for a key consumer inflation report later in the day that could shape expectations for Federal Reserve interest rate cuts. The Australian dollar was steady hours before a policy decision by the Reserve Bank of Australia. The US dollar index - which measures the currency against six counterparts, including the euro and yen - was steady at 98.497 as of 0046 GMT, after advancing 0.5% over the past two sessions. Prior to that, the dollar had retreated as US President Donald Trump's dovish-leaning pick to replace a Fed governor, and similarly inclined potential candidates for chairman, led traders to increase easing bets. In addition, Fed officials have sounded increasingly uneasy about the labour market, signalling their as soon as September. Cooling inflation could cement bets for a reduction next month, but if signs emerge that Trump's tariffs are fuelling price pressures, that might keep the central bank on hold for now. Traders currently put the odds of a quarter-point cut on September 17 at about 89%. The greenback rose 0.1% to 148.28 yen on Tuesday. The euro was flat at $1.1615. Oil prices, a key indicator of currency parity, were little changed on Tuesday after the United States and China extended a pause on higher tariffs and data showed a rise in U.S. inflation in July. Brent crude futures lost 36 cents, or 0.54%, to $66.27 a barrel by 1240 GMT. U.S. West Texas Intermediate crude futures eased by 45 cents, or 0.7%, to $63.51. U.S. President Donald Trump extended a tariff truce with China to November 10, staving off triple-digit duties on Chinese goods as U.S. retailers prepared for the critical end-of-year holiday season. This raised hopes that an agreement could be reached between the world's two largest economies and avert a virtual trade embargo between them. Tariffs risk slowing global growth, which could sap fuel demand and drag oil prices lower. Inter-bank market rates for dollar on Tuesday BID Rs 282.42 OFFER Rs 282.61 Open-market movement In the open market, the PKR gained 6 paise for buying and remained unchanged for selling against USD, closing at 283.80 and 284.90, respectively. Against Euro, the PKR gained 1.10 rupee for buying and 1.05 rupee for selling, closing at 328.95 and 331.10, respectively. Against UAE Dirham, the PKR remained unchanged for buying and gained 5 paise for selling, closing at 77.28 and 77.55, respectively. Against Saudi Riyal, the PKR remained unchanged for buying and gained 3 paise for selling, closing at 75.53 and 75.85, respectively. Open-market rates for dollar on Tuesday BID Rs 283.80 OFFER Rs 284.90

Rupee inches upwards against US dollar
Rupee inches upwards against US dollar

Business Recorder

time12 hours ago

  • Business Recorder

Rupee inches upwards against US dollar

Rupee's Performance Against US Dollar Since 04 March 2025 The Pakistani rupee maintained its upward momentum against the US dollar, appreciating 0.01% in the inter-bank market on Tuesday. At close, the currency settled at 282.42, a gain of Re0.03. On Monday, rupee closed at 282.45. Internationally, the US dollar held steady on Tuesday, with markets braced for a key consumer inflation report later in the day that could shape expectations for Federal Reserve interest rate cuts. The Australian dollar was steady hours before a policy decision by the Reserve Bank of Australia. The US dollar index - which measures the currency against six counterparts, including the euro and yen - was steady at 98.497 as of 0046 GMT, after advancing 0.5% over the past two sessions. Prior to that, the dollar had retreated as US President Donald Trump's dovish-leaning pick to replace a Fed governor, and similarly inclined potential candidates for chairman, led traders to increase easing bets. In addition, Fed officials have sounded increasingly uneasy about the labour market, signalling their as soon as September. Cooling inflation could cement bets for a reduction next month, but if signs emerge that Trump's tariffs are fuelling price pressures, that might keep the central bank on hold for now. Traders currently put the odds of a quarter-point cut on September 17 at about 89%. The greenback rose 0.1% to 148.28 yen on Tuesday. The euro was flat at $1.1615. Oil prices, a key indicator of currency parity, rose on Tuesday as the United States and China extended a pause on higher tariffs, easing concerns that an escalation of their trade war would disrupt their economies and crimp fuel demand in the world's two largest oil consumers. Brent crude futures gained 26 cents, or 0.39%, to $66.89 a barrel by 0015 GMT, while US West Texas Intermediate crude futures rose 22 cents, or 0.34%, to $64.18.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store