IESCO launches ‘Apna Meter Apni Reading' App
This smart power application allows electricity consumers to participate directly in the billing process.
Copyright Business Recorder, 2025
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Express Tribune
8 hours ago
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Cabinet okays 15% hike in EOBI pensions
Listen to article Federal cabinet has approved a 15% increase in pensions provided by the Employees' Old-Age Benefits Institution (EOBI), effective from January 1, 2025, on the recommendation of the Ministry of Overseas Pakistanis and Human Resource Development. The pension increase will be funded through the institution's own resources, ensuring no additional burden on the national budget. The decision was made during a federal cabinet meeting chaired by Prime Minister Shehbaz Sharif on Wednesday. The meeting focused on various socio-economic reforms, including pension schemes and healthcare benefits. براہِ راست: وزیرِاعظم محمد شہباز شریف کا وفاقی کابینہ کے اجلاس سے خطاب — Government of Pakistan (@GovtofPakistan) July 16, 2025 The prime minister directed the formation of a cabinet committee to implement institutional reforms in the EOBI. The committee will also consider proposals to extend old-age benefits to informal workers, including domestic staff, agricultural labourers, and other marginalised workers who have historically been excluded from such schemes. These reforms aim to ensure that workers in these neglected sectors receive their due rights. Additionally, the cabinet approved the initiation of legal procedures for the Sea Carriage Shipping Documents Bill, 2025, as recommended by the Ministry of Maritime Affairs. The cabinet also agreed to extend the exemption on the import of anti-cancer, cardiac, and life-saving drugs for five more years. This extension, proposed by the Ministry of National Health Services, aims to ensure that these critical medicines remain available in hospitals and authorised institutions, though they will not be sold on the open market. The import of these medicines will now require prior approval from the relevant licensing authority. Prime Minister Muhammad Shehbaz Sharif chairs the Federal Cabinet Meeting — Government of Pakistan (@GovtofPakistan) July 16, 2025 In his address, Prime Minister Shehbaz commended the efforts of provincial governments, the federal administration, and authorities in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (G-B) for their arrangements during Muharram. He also praised law enforcement agencies for maintaining law and order during religious observances. The prime minister acknowledged the need for disaster preparedness, especially during the ongoing monsoon season. He reported on a high-level meeting with the National Disaster Management Authority (NDMA) and Provincial Disaster Management Authorities (PDMAs) to strengthen arrangements for dealing with heavy rains. Read More: Hike in EOBI pensions from May 1 PM Shehbaz also expressed his condolences over the recent loss of lives due to rainfall in various parts of the country, particularly the tragic incident in Swat. He called it an 'unfortunate incident' and stressed the importance of implementing preventive measures to avoid similar tragedies in the future. On the economic front, the prime minister expressed satisfaction with recent positive trends in macroeconomic indicators, underlining his government's commitment to improving service delivery and holding ministries accountable for performance. He said, 'This message I want to make loud and clear – it is all about delivery and service to the nation.' He added that ministries performing well will be recognised, while those falling short will be asked to explain their failures. The prime minister also praised the Federal Minister for Planning, Ahsan Iqbal, for his ministry's efficient use of development funds, highlighting that the development spending had surpassed Rs1 trillion under the Public Sector Development Programme (PSDP).
Business Recorder
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One of the most discussed aspects of the budget is the significant boost in defense allocations. However, rather than being viewed as a diversion of resources, this increase is widely regarded as a justified tribute to the Pakistan Army's recent military triumph over India. The swift, strategic, and professional conduct of Pakistan's armed forces in that conflict was instrumental in preserving regional equilibrium and asserting Pakistan's deterrence capabilities. Balancing the books and the battlefield: Pakistan's fiscal strategy for FY2025–26—III Yet, fiscal execution remains a critical challenge. The success of the PSDP, tax administration reforms, and development programs depends on institutional coordination, transparency, and political continuity. Past delays in disbursements and bureaucratic inefficiencies have often undermined well-conceived plans. Pakistan's external vulnerabilities — such as oil price shocks, currency volatility, and declining global demand—also pose considerable risks. Furthermore, the ambitious remittance and export targets hinge on stable labor markets abroad and sustained global economic recovery. Balancing the books and the battlefield: Pakistan's fiscal strategy for FY2025-26 – II Pakistan's FY 2025–26 federal budget reflects a nuanced approach to governance — balancing fiscal consolidation with strategic investment, rewarding national achievements while laying the groundwork for sustainable growth. Defense, infrastructure, agriculture, IT, and SMEs receive focused attention, while structural reforms target long-standing inefficiencies in taxation and public finance. Balancing the books and the battlefield: Pakistan's fiscal strategy for FY2025–26—I More than just numbers, this budget encapsulates a national mindset that prizes resilience, discipline, and vision. If implemented with resolve and integrity, it holds the promise to be a turning point for Pakistan's economic journey — a transition from crisis management to long-term planning. (Concluded) Muhammad Sheroz Khan Lodhi (Karachi) Copyright Business Recorder, 2025
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Yango Tech announces partnership with DealCart
KARACHI: Yango Tech has announced strategic partnership with DealCart, fastest-growing grocery delivery platforms, for products accessibility within the Yango Shops section in the super-app. This is the part of the efforts to expand the Yango Pakistan serviced in the country by introducing new AI-powered technology for businesses. As part of this evolution, Yango Tech is now fully available in Pakistan, offering businesses smarter ways to grow, operate, and connect with their customers. Through this strategic partnership, DealCart's products are now accessible within the Yango Shops section in the super-app, allowing customers in Karachi to seamlessly order groceries and essential products with in-slot delivery. Miral Sharif, Country Head, Yango Pakistan has said that Yango Tech expansion into the Pakistani market through this partnership with DealCart marks an exciting step in the company's journey to support local innovation through global technology Yango Tech offers a comprehensive suite of AI-powered B2B solutions for industries like mobility, logistics, retail, and customer operations. By consolidating technologies into one platform, it helps businesses streamline operations, cut costs, and enhance user experiences. By launching a B2B ecosystem of AI solutions for businesses, Yango Tech continues to grow its diverse service portfolio across Asia. The B2B ecosystem is focused on fostering strong partnerships with Pakistani businesses delivering cutting-edge technological solutions and enabling digital transformation for emerging markets. Copyright Business Recorder, 2025
