कारोबार

Prime Minister Shehbaz Sharif on Wednesday called for expanding Pakistan’s cooperation with the Japan International Cooperation Agency (JICA), identifying skills development, mineral exploration and support for small and medium-sized enterprises (SMEs) as key areas for future collaboration. The prime minister made the remarks during a meeting in Islamabad with a nine-member JICA delegation led by its President, Dr Tanaka Akihiko. He said Pakistan deeply values its decades-long partnership with Japan and expressed confidence that the latest engagement would further strengthen bilateral development ties. Highlighting the government’s economic agenda, Shehbaz said Pakistan had emerged from a challenging economic period through coordinated reforms and was now focused on achieving sustainable and inclusive growth. He noted that fiscal reforms had significantly improved revenue collection over the past three years, creating greater capacity for national development. The premier stressed that equipping young people with modern skills, expanding technical and vocational education, creating employment opportunities and empowering women remain among the government’s highest priorities. He said Pakistan is keen to benefit from JICA’s expertise in these sectors. Shehbaz also identified the country’s vast mineral resources as a major area of economic potential and invited JICA to provide technical assistance to help develop the sector and attract greater investment. Discussing support for businesses, the prime minister said reforms at the Small and Medium Enterprises Development Authority (SMEDA) had strengthened the institution. He expressed hope that enhanced cooperation with JICA would help improve SME productivity, encourage entrepreneurship and boost Pakistan’s exports. During the meeting, Shehbaz also conveyed condolences over the recent earthquake in Japan. Dr Tanaka thanked the prime minister for his message of sympathy and appreciated the warm hospitality extended to the Japanese delegation during its visit. The JICA president reaffirmed the agency’s commitment to expanding cooperation with Pakistan in healthcare, education, urban and rural development, industrial growth and technical training. He said future projects would be designed in line with the development priorities of both the federal and provincial governments. Dr Tanaka also acknowledged Pakistan’s efforts to promote peace and stability in the Middle East. Separately, Federal Minister for Economic Affairs Ahad Cheema met the JICA delegation to discuss future development initiatives. He invited the agency to participate in financing the Main Line-1 (ML-1) railway project alongside the Asian Development Bank and other development partners, describing the railway upgrade as vital for improving trade, transportation and industrial connectivity across the country. Cheema also sought JICA’s support for expanding internet connectivity in rural areas to promote freelancing and digital commerce. He requested technical assistance for feasibility studies of major infrastructure projects, an area in which JICA expressed readiness to cooperate.

The Punjab government has fixed the new wheat release price at Rs3,800 per maund following approval from the provincial cabinet. According to a spokesperson for the Punjab Food Safety and Consumer Protection Department, a formal notification has been issued to implement the decision. The spokesperson said the federal government has directed Punjab to immediately procure wheat from the Pakistan Agricultural Storage and Services Corporation (PASSCO). The province has been approved to receive 300,000 metric tons of wheat under the arrangement. The department has already received 200,000 metric tons of wheat, while PASSCO has set its wheat price at Rs4,150 per maund. Officials said the move aims to ensure an uninterrupted supply of wheat and flour across the province while maintaining price stability in the market. The Punjab government also reiterated its commitment to ensuring that bread (roti) remains available to the public at Rs15 per piece. According to the spokesperson, Punjab had requested 800,000 metric tons of wheat, but only 533,440 metric tons have been allocated. Meanwhile, the Ministry of National Food Security has instructed the Punjab government to promptly submit its wheat procurement schedule along with the required advance payment to complete the purchase process.

Prime Minister Shehbaz Sharif has directed the relevant authorities to adopt a comprehensive strategy to attract local and international investors for the privatisation of state-owned electricity distribution companies (Discos). He also ordered the restructuring of the Privatisation Commission within one month to strengthen its role in the reform process. Chairing a high-level meeting in Islamabad, the prime minister said the privatisation programme must move forward according to the approved timelines. He stressed that every stage should be completed transparently and in line with international standards and legal requirements. He added that the process should deliver positive financial results while protecting the interests of electricity consumers. The prime minister instructed officials to ensure that reputable investors participate in the bidding process. He said investor confidence should be increased through effective planning, transparency and a clear policy framework. At the same time, he emphasised that consumer rights should remain a top priority during the transfer of power distribution companies to the private sector. Officials informed the meeting that investor roadshows for the first phase of the privatisation programme had been completed successfully. These campaigns focused on Gujranwala Electric Power Company (Gepco), Faisalabad Electric Supply Company (Fesco) and Islamabad Electric Supply Company (Iesco). Similar investment outreach activities held in Türkiye, Saudi Arabia and China also received encouraging responses from potential investors. The meeting reviewed progress on institutional reforms within the Privatisation Commission. The prime minister directed the commission to recruit experienced professionals in finance, law and information technology. He said hiring qualified experts would improve the commission’s capacity to manage large-scale transactions and strengthen investor confidence. He also instructed officials to incorporate recommendations from professional consultants into the privatisation process. All legal, financial and regulatory requirements should be completed without delay to ensure smooth implementation, he added. The prime minister further ordered the establishment of an effective grievance redress mechanism to address complaints from consumers after the companies are privatised. He said public confidence would depend on uninterrupted services, transparency and accountability. The government is offering investors the opportunity to acquire majority or full ownership of Fesco, Gepco and Iesco, along with management control. These companies are considered among the strongest electricity distribution companies in the country and together provide power to more than 14 million consumers across Punjab, the Islamabad region and parts of Azad Jammu and Kashmir. The privatisation plan is part of the government’s broader economic reform programme. The initiative aims to improve operational efficiency, reduce financial losses, attract domestic and foreign investment, strengthen service delivery and modernise Pakistan’s power sector through greater private-sector participation.