Rs354.8bn tagged for SOEs
ISLAMABAD: The federal government has budgeted Rs354.817 billion to State-Owned Enterprises (SOEs) under the Public Sector Development Programme (PSDP) for the fiscal year 2025–26, reflecting a whopping 80.3 percent increase over the Rs196.839 billion allocated in the previous year.
The increase suggests that, for now, the government remains committed to funding public enterprises for strategic and developmental purposes, even as broader SOE reforms remain under discussion.
While specific enterprise-wise breakdowns have not been provided in the summary documents, the increased allocation is expected to support infrastructure expansion, modernization of essential services, and capital improvements within key public-sector entities.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
6 hours ago
- Express Tribune
PSX crosses 126,000 barrier for first time as record rally continues
Listen to article The Pakistan Stock Exchange (PSX) continued its upward momentum for the third consecutive day on Thursday, with the benchmark KSE-100 index reaching an all-time high of 126,025.99 points during intra-day trading. The index rose by 1,673.31 points, or 1.35%, in early trading, marking a new milestone for the bourse during the intra-day trading. The index reached a daily high of 126,055.32 and a low of 124,807.09. The previous close was recorded at 124,352.68. Trading volume was recorded at 113,574,464 shares, with a total value of 11,375,804,736. Earlier on Wednesday, PSX saw a significant rally, with the KSE-100 index soaring by 2,328 points (1.91%) to an all-time high of 124,352.68, fueled by investor optimism following the federal budget announcement. The budget, which maintained the status quo on equity taxation and increased withholding tax on bank deposits, was welcomed by market participants as it was seen as favourable for capital markets and the economy. Analysts highlighted that the budget's provisions, including projections of a 3.9% fiscal deficit and a Rs1 trillion federal PSDP, added to the bullish sentiment. Read more: PSX at new peak as budget sparks optimism Arif Habib Corp MD Ahsan Mehanti observed that stocks reached a new all-time high, led by across-the-board activity, as investors cheered the status quo on equity taxes and higher withholding taxes on bank deposits in the FY26 budget. Broad-based participation drove the rally, with strong gains in sectors like cement, oil and gas, banking, and fertilisers. Notable stocks such as Lucky Cement, Fauji Fertiliser, and Pakistan Petroleum saw significant gains. Investor confidence was further boosted by the avoidance of new taxes and the continuation of subsidies for key sectors. JS Global analyst Mubashir Anis Naviwala said that the stock market welcomed the budget with strong optimism, breaking all resistance levels to cross the 124,000 mark. A new historic intra-day high of 124,588 was reached before the index settled at 124,353, up 2,328 points. The market experienced a sharp rise in trading volumes, reaching 1.04 billion shares, with a value of Rs46.7 billion. The day's trading also saw a positive trend in shares, with 283 stocks closing higher. However, foreign investors sold shares worth Rs1.1 billion, as reported by the National Clearing Company.
Business Recorder
12 hours ago
- Business Recorder
Air Karachi inks MRO deal with PIA
KARACHI: Air Karachi has signed a maintenance agreement with Pakistan International Airlines (PIA) to acquire engineering services from the national flag carrier. According to the details, under the agreement, Air Karachi will acquire engineering services or MRO (Maintenance, Repair, and Overhaul) services from PIA. The agreement was signed by CEO PIA, Air Vice Marshal Amir Hayat, and Air Karachi's Chairman Hanif Gohar and CEO AVM Imran Majid (retd). Senior officials from PIA and Air Karachi were present. PIA spokesman said that the airline's Engineering Division has the capacity and capability for maintenance, repair, and overhaul that is available and being offered to other airlines, adding that this agreement would generate additional revenue for PIA through MRO facilities. Copyright Business Recorder, 2025
Business Recorder
12 hours ago
- Business Recorder
PSA opposes 18pc GST on imported solar panels
LAHORE: The Pakistan Solar Association (PSA) has voiced strong opposition to the proposed imposition of 18% General Sales Tax (GST) on imported solar panels, as outlined in the Federal Budget 2025–2026. In a formal representation submitted to the Ministry of Power, the PSA cautioned that the move could significantly derail Pakistan's progress in renewable energy adoption at a critical juncture. According to the PSA, the imposition of this tax risks reversing the positive momentum built over the past several years, which has enabled widespread access to clean, affordable energy and contributed to national energy security. The association argues that the GST will increase the upfront cost of solar installations, making the technology less affordable for households and small businesses already grappling with high electricity prices. PSA Chairman Waqas Moosa emphasised, 'At a time when the world is accelerating toward clean and renewable energy, this tax may inadvertently discourage solar adoption and undermine our collective climate and energy goals.' The association challenged the rationale that the tax would protect local manufacturing, stating that Pakistan currently lacks a large-scale or high-efficiency solar panel manufacturing base. Local units mostly produce low-wattage panels that do not compete with imported technologies, making the protectionist impact of the tax marginal at best. In its letter, the PSA proposed alternative solutions such as phased incentives for local solar assembly, R\&D support, and GST exemptions for residential and small-scale solar buyers to strike a balance between industrial policy and clean energy access. The Association urged the government to reconsider the proposed GST, warning that higher costs could make solar less competitive than fossil fuels — which are not only environmentally harmful but also strain Pakistan's foreign exchange reserves. The PSA reaffirmed its commitment to collaborate with policymakers on sustainable, forward-thinking strategies to achieve energy independence and ensure long-term energy security for Pakistan. Copyright Business Recorder, 2025
