Business
Pakistan to boost ties with China on livestock
Pakistan and China have agreed to enhance cooperation in the livestock and meat export sectors, media reported on Sunday, as Islamabad seeks to deepen economic cooperation with Beijing.
Pakistan exported meat, including beef, mutton and poultry, to China, worth Rs142.3 billion ($512 million), in fiscal year 2023-24, according to Pakistan’s statistics bureau. Pakistan’s halal meat production stands at six million metric tons, of which a substantial quantity is available for export after meeting the local demand.
The understanding to enhance bilateral cooperation in livestock and meat export sectors was reached during Pakistan Food Security Minister Rana Tanveer Hussain’s meeting with a Chinese delegation, the Radio Pakistan broadcaster reported.
“Pakistan has vast livestock resources and the potential to produce high-quality halal meat,” the broadcaster said, citing Hussain.
“The participants agreed to promote the establishment of modern slaughterhouses, meat processing facilities and export infrastructure in Pakistan.”
Pakistan will also improve modern technology, cold chain systems and traceability mechanisms to enhance exports of quality halal meat to China, according to the report.
In December last year, Pakistan’s prime minister approved the halal meat export policy and directed authorities draw up a three-year action plan aimed at targeting Muslim and global markets.
The new export strategy outlines regulatory reforms, disease control measures and upgraded slaughterhouse standards that fulfill the global criteria.
In September 2025, a Karachi-based private company, The Organic Meat Company Limited (TOMCL), secured a $7.5 million order to export cooked or heat-treated frozen boneless beef to China, followed by an $8.1 million contract with Gold Crest Trading FZE for frozen boneless beef exports to the UAE for industrial and household processing.
Pakistan Stock Market began the third day of the business week by getting back the 180,000-point threshold, with the benchmark KSE-100 Index adding almost 1,000 points.
The stock market opened on a strong note with the KSE-100 Index gaining over 1,000 points to hit 180,863 points.
The development came a day after the benchmark index ended lower. The KSE-100 Index ended the previous trading session with a fall of 1,463 points to close at 179,846 points.
A Rs25,000 penalty has been proposed for traders who file their income tax returns after September 30 under the proposed easy tax scheme for traders.
According to sources, Prime Minister Shehbaz Sharif will introduce the easy tax scheme for traders and a new income tax return form for the current fiscal year on August 14.
Sources said a special facility has been proposed for traders who submit their income tax returns on time by September 30. Traders who file their returns within the deadline would be exempted from the registration fee for the easy tax scheme.
According to sources, a Rs25,000 registration fee and a Rs25,000 penalty have been proposed for traders who file their returns after September 30. Traders who submit their returns on time would also be provided with a registration plate worth Rs25,000.
Under the proposed scheme, separate income tax return forms are also proposed for business individuals and individual taxpayers.
Sources said the new form for income tax returns for the current fiscal year will be launched on August 14, with the aim of making the process of filing tax returns easier for traders.
It is pertinent to note that the details regarding the proposed penalties and incentives have been described as proposals from sources, while the final rules will take effect after the relevant government notification is issued.
Pakistan has announced new gasoline rates, in which petrol price has decreased by Rs 1.70 per litre while high speed diesel (HSD) price has increased by Rs 1.39 per litre.
The Petroleum Division said in a news release Tuesday that the new revised rates will come into effect from August 12, 2026. The amendments were introduced by the Oil and Gas Regulatory Authority (OGRA) under the revamped petroleum price structure of the federal government.
The price of motor spirit, widely known as petrol, has been decreased from Rs327.62 to Rs325.92 a litre, a reduction of Rs1.70.
In contrast, the high-speed diesel price has been hiked by Rs1.39 to Rs382.25 a litre from Rs380.86.
OGRA has amended the ex-depot prices of petroleum products in line with the revised pricing structure given by the federal government, the Petroleum Division said.
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