Business
Aurangzeb says IMF had not asked for a tariff on solar panels
He disputed allegations that the government had considering taxing solar panels before the budget. ‘There was never any such demand from the IMF and the topic was never discussed,’ he said.
Aurangzeb stated in a media interaction that the government is working on a set of structural reforms in the energy sector to bring down electricity rates, improve the business environment and increase the competitiveness of major industries, according to a federal minister.
In reply to questions on the high energy costs and capacity charges carried over by successive governments, the minister said expensive power continues to pose a serious problem to industry including manufacturing, information technology, mining and other energy-intensive industries.
He said the government, in partnership with Energy Minister Awais Leghari, had already taken steps to remove cross-subsidies for industry and was pursuing changes through wheeling policy and other measures to increase efficiency in the electricity sector.
Read More : Solar panels, inverters, lithium batteries’ prices soar ahead of budget
The government is moving from short-term relief to more extensive, long-term structural reforms, the minister said. These efforts are to be expected to bear fruit in the coming years rather than immediately, he said.
Privatisation of energy distribution companies (DISCOs) is a crucial part of the reform agenda. The minister said three DISCOs had already been awarded expression of interest (EOI) and two more EOIs will soon be awarded. He said he was certain that the first batch of distribution businesses would be handed over to private sector management by the end of the year, with the rest to follow in phases.
There would need to be more regulatory control to accompany privatisation and work was beginning to ensure the regulatory system would be robust and effective, he said.
He also emphasised the ambitions to shift away from the existing single-buyer energy market model, controlled through the Central Power Purchasing Agency (CPPA), to a competitive multi-buyer system. “The change will help dismantle existing monopolistic structures and improve market efficiency,” he said.
Pakistan’s textile exports decreased dramatically in June, 2026, down 22.63 per cent compared to the previous month, government statistics showed.
Textile exports were registered at $1.282 billion in June compared to $1.657 billion in May 2026, suggesting poorer monthly export performance, sources added.
Year-on-year, shipments also fell from $1.522 billion in June 2025 to $1.282 billion in June this year.
On a yearly basis, Pakistan’s textile sector registered a small growth in exports throughout the full fiscal year, despite the monthly slowdown.
The results showed textile exports for FY2025-26 were at $17.97 billion as against $17.91 billion in FY2024-25, up 0.34 per cent on an annual basis.
Textile sector remains the largest export sector and a vital source of foreign exchange for Pakistan. Industry stakeholders have frequently highlighted that reliable energy sources, low production prices and favourable global demand are key to maintaining export growth.
“Monthly export figures may change depending on shipment dates, foreign demand and shifting commodity costs, analysts added. They said the June drop could dent performance in the near term but the industry nevertheless managed to post modest annual growth in the fiscal year.
The recent data comes as Pakistan is trying to grow its export base and improve external sector stability through increasing value-added exports and increasing access to international markets.
The federal government on Friday announced a reduction of Rs1.97 in the prices of petrol and high speed diesel (HSD) for the coming week.
The Ministry of Energy (Petroleum Division) issued a notification stating that the revised ex-depot prices will be effective from July 4, 2026.
The price of motor spirit (petrol) was reduced to Rs297.53 per litre from Rs299.50 and the price of high-speed diesel (HSD) was cut to Rs309.50 per litre from Rs311.47 after the change.
The Pakistan Stock Exchange’s benchmark KSE-100 index witnessed robust gains over the week, up 3.22 percent.
The PSX 100 index soared 5,800 points throughout the week to conclude at 185,372 points.
The index traded in a range of 7,559 points over the trading week, showing healthy market activity and investor interest.
During the week, a total of 4.32 billion shares were exchanged and transactions worth Rs238 billion were registered in the market.
Meanwhile, market cap climbed by Rs628 billion over the week to Rs20,762 billion.
A 1-0 victory against Ghana by Colombia has set up a match against Switzerland.
Symbols are distributed by the AJK Election Commission to twenty-four registered political parties.
All schools in Balochistan are prohibited from using physical punishment.
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