Authorities have been instructed by Prime Minister Shehbaz Sharif to accelerate the construction of a 100 megawatt solar energy plant in Gilgit-Baltistan.

The decision was given out during a review meeting on the Gilgit-Baltistan solar energy project, which was presided over by the prime minister. The federal government’s solar effort in the area was explained to concerned officials.

The prime minister declared during the meeting that the project, which aims to supply Gilgit-Baltistan residents with 100 megawatts of solar power, will be entirely funded by the federal government.

Additionally, he gave authorities instructions to finish the project as quickly as possible and to use impartial third-party review to guarantee openness at every level.

An 18 megawatt solar energy project has been planned for local government facilities, according to the briefing. This project is expected to be finished in the Gilgit and Diamir divisions by December 2026. It is anticipated that the Baltistan district’s government buildings would be fully solarised by October 2026.

An 82-megawatt solar energy project for homes in Gilgit, Skardu, Chilas, and Khaplu is also in progress, according to the briefing.

Senior government representatives, such as Federal Minister for Planning Ahsan Iqbal, Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Power Division Sardar Awais Ahmad Khan Leghari, and Minister for Kashmir and Gilgit-Baltistan Affairs Amir Muqam, were present at the meeting.

The Punjab government is to present its tax-free budget for the fiscal year 2026-27 today (Tuesday) in the 43rd session of the Punjab Assembly summoned by the provincial governor.

Provincial Finance Minister Mian Mujtaba Shuja-ur-Rehman will submit the budget and table key financial documents including annual financial statement for FY2026-27, supplementary budget for FY2025-26 and Punjab Finance Bill 2026.

He is also anticipated to table suggested revisions under Sections 5 and 76 of the Punjab Sales Tax on Services Act, 2012 and the province’s Fiscal Risk Statement.

The proposed budget outlay is around Rs5.3 trillion, official sources say. Punjab is likely to get over Rs4.4 trillion under the National Finance Commission (NFC) Award while provincial income collection is estimated to be around Rs1 trillion.

The budget is likely to have Rs 700 billion plus for development expenditure and Rs 800 billion for Punjab Finance Commission. Rs650 billion for salaries and Rs505 billion for pension payments have been earmarked.

Salary hikes for government employees are expected to be in line with those announced by the federal government.

The Annual Development Programme (ADP) encompasses 3,560 development schemes and Rs493.25 billion is proposed for continuing projects and Rs258.75 billion for new schemes.

Major projects planned for the next fiscal year include inauguration of Kulsoom Nawaz Cancer Hospital in Dera Ghazi Khan, expansion of the Chief Minister’s Laptop Programme and continuation of funding for the Kisan Card, Livestock Card and Parwaaz Card International Placement Programme.

The budget also proposed to establish Mian Nawaz Sharif University of Engineering and Technology and Shehbaz Sharif Sports Complex.

Meanwhile, police have tightened security outside the Punjab Assembly ahead of the budget session, anticipating opposition protests.

Meanwhile, the Balochistan Assembly will gather on Wednesday to submit the provincial budget. Strict security measures have been set for the session including a restriction on armed government and private security personnel entering the assembly secretariat during the proceedings.

Pakistan Stock Exchange (PSX) recorded substantial rally on the first trading day of the week after news of agreement between Iran and United States which improved sentiments across regional financial markets.

The KSE-100 had kicked off the trading session on a bullish note, adding more than 4,500 points. The KSE-100 Index shot up to 176,917 points, a huge progress over last session.

The benchmark index finished at 172,399 points on the last trading day of the previous week. That recent rally has seen good purchasing and a better feeling among investors.

Meanwhile, share markets in Asia jumped on Monday (Oct 2) while the dollar sank and oil prices tumbled as a tentative peace deal between the United States and Iran raised hopes of easing inflationary pressures internationally and lessening the need for higher interest rates.

Pakistani Prime Minister Shehbaz Sharif stated on social media early Monday that an agreement had been reached, while President Donald Trump said the agreement includes opening the crucial Strait of Hormuz, without details.