Thailand’s E-Commerce Vendors Push Back Against High Platform Fees  

ISLAMABAD: The prices of several essential food and household items have recorded significant changes over the past year, with onions and tomatoes witnessing some of the sharpest increases, according to the latest data released by the Bureau of Statistics. The data showed that onion prices jumped by 132.52% on a year-on-year basis, making the vegetable one of the biggest contributors to the increase in food costs. Tomato prices also surged by 93.21% during the same period, putting additional pressure on household budgets. Among other essential commodities, the price of flour rose by 62.25% over the year, while LPG became 51.69% more expensive. The prices of diesel and petrol increased by 33.08% and 27.65%, respectively, adding to transportation and household expenditure pressures. The data further showed that banana prices increased by 17.66% during the year. Mutton became 15.98% more expensive, while beef prices recorded an increase of 13.54%. However, several food items became cheaper compared with their prices a year earlier. Potato prices declined by around 30%, providing some relief to consumers. Sugar prices fell by 19.10%, while chicken became 17.68% cheaper. Egg prices also registered a year-on-year decline of 17.41%, while gram prices dropped by more than 13%. The statistics further revealed that prices of lentils and masoor decreased by 12.29%, while jaggery became around 6% cheaper over the year.

ISLAMABAD: The federal government has stepped up efforts to reform Pakistan’s construction industry, with a comprehensive package under consideration to improve regulation, financing, taxation, procurement practices and construction quality. Federal Minister for Economic Affairs and Establishment Division Senator Ahad Khan Cheema chaired a high-level meeting on Saturday to review proposed reforms aimed at strengthening the construction sector and bringing national practices closer to modern standards. The meeting was attended by Minister of State for Finance Bilal Azhar Kayani, Federal Secretary for Housing and Works Captain Mahmood (retd), Managing Director of the Public Procurement Regulatory Authority (PPRA), representatives of the Construction Association of Pakistan (CAP) and senior government officials. The discussions focused on developing a coordinated policy framework capable of addressing longstanding regulatory, operational and financial challenges faced by the construction industry. Construction Industry Development Board proposed As part of the proposed reform package, the government is considering the creation of a Construction Industry Development Board (CIDB) to serve as both a development and regulatory body for the sector. The proposed board would be responsible for supporting the growth of the construction industry while also establishing and enforcing standards for contractors, consultants and other stakeholders. According to the plan discussed at the meeting, the CIDB would include representatives from both the public and private sectors, creating a platform for cooperation between government institutions and industry stakeholders. Senator Ahad Cheema said there was broad agreement between the federal government and CAP on the need for such an institution. He said the government would prepare the proposed framework and present it to the prime minister for approval. The proposed regulatory mechanism is expected to address gaps in the existing system, particularly those relating to professional standards, project quality and accountability. Consultants may face greater accountability One of the major issues discussed during the meeting was the lack of a clear accountability mechanism for consultants involved in public infrastructure projects. Cheema noted that contractors could face penalties for delays, defaults and poor performance, but similar legal and financial consequences were not adequately available for consultants when design or technical shortcomings resulted in project failures. Under the proposed CIDB framework, consultants would come under a more formal regulatory structure. The objective would be to ensure that professionals responsible for project design and technical supervision could also be held accountable for serious errors, design deficiencies or technical mistakes. CAP representatives supported the proposal, maintaining that stronger oversight of consultants would improve the quality of project designs and help safeguard public funds. Defect liability period to be extended The government is also preparing to increase the Defect Liability Period (DLP) for public development projects. At present, the standard liability period is one year. The government plans to initially extend it to three years and subsequently work towards increasing it to five years. Cheema said public infrastructure should remain durable for a considerable period after completion and should not begin deteriorating soon after being handed over. He argued that extending the liability period would create stronger incentives for contractors and executing agencies to maintain quality standards throughout construction. Under a longer liability period, contractors would remain responsible for addressing defects for an extended period, potentially discouraging the use of substandard materials or poor construction practices. The government views the proposed change as an important step towards improving the long-term value of public development spending. Construction development package under consideration The proposed construction industry development package is expected to address several financial and policy constraints currently affecting the sector. The package could include targeted tax reforms, revised import and export policies and incentives aimed at encouraging the adoption of modern construction technologies. Officials also discussed the need to strengthen domestic construction capacity by facilitating access to modern machinery, equipment, materials and technical expertise. The government believes that a more predictable policy environment could encourage greater private investment while supporting the development of local construction companies and suppliers. Proposal for Construction Development Bank Financing challenges faced by construction companies also came under discussion. CAP representatives highlighted difficulties encountered by contractors in obtaining banking facilities, particularly when arranging financial and performance guarantees required for government projects. The industry also proposed establishing a dedicated Construction Development Bank (CDB) to address the sector’s specialised financing needs. In response, Cheema directed Minister of State for Finance Bilal Azhar Kayani to consult the State Bank of Pakistan (SBP) and the Pakistan Banks Association (PBA). The feasibility of creating a dedicated construction development bank will be assessed after obtaining feedback from the central bank and commercial banking sector. Officials will also examine the financial implications and potential structure of such an institution before any decision is taken. Import and export policies to be reviewed The government is also considering changes to import and export policies affecting construction-related businesses. The proposed review is intended to facilitate access to modern technologies and equipment while simultaneously encouraging greater domestic production and development of local industrial capacity. The authorities are expected to examine existing duties, procedures and policy barriers to determine whether adjustments could help improve competitiveness without undermining domestic manufacturing. Focus on value for public money During the meeting, Cheema stressed that improving construction quality was directly linked to protecting public finances. He said the government’s objective was not simply to complete infrastructure projects but to ensure that they delivered value over their intended lifespan. The minister emphasised the importance of cost-effectiveness, durability and accountability at every stage of public construction projects. The proposed reforms, if approved, could introduce significant changes to the way construction contractors and consultants are regulated, how public projects are monitored and how construction companies access financing. The government is now expected to consolidate the proposals into a broader policy framework and seek approval for the proposed measures.

ISLAMABAD: Pakistan’s trade deficit increased by 26% during the first month of the fiscal year 2026-27, mainly driven by a sharp rise in imports, according to the latest data released by the Pakistan Bureau of Statistics (PBS). The widening gap between imports and exports highlights growing pressure on the country’s external trade position at the beginning of the new fiscal year. Imports increased by around 19% in July, with higher purchases recorded across several major categories, including food products, machinery, transport equipment, textiles, agricultural inputs and metals. According to the PBS data, the country’s food import bill reached $805.4 million in July 2026, equivalent to more than Rs224 billion. The increase reflects continued reliance on imported food products and essential raw materials to meet domestic demand. Among food items, imports of milk, cream and food products prepared for infants rose by 25% to $18.7 million. Pakistan also imported significant quantities of spices, soybeans, palm oil and pulses during the month. Sugar imports were also recorded during July, with the country importing around 112 metric tonnes, adding to the overall food import bill. Machinery imports rise sharply Machinery emerged as one of the major contributors to the increase in the import bill. Machinery imports jumped by 41% to $1.31 billion during July compared with the corresponding period. The increase covered a wide range of equipment used in key sectors of the economy. Imports included machinery for power generation, offices, textile manufacturing, agriculture, construction and telecommunications. The rise in machinery imports could indicate increased demand for equipment and investment-related goods across different industries, although it also contributed significantly to the expansion of the overall trade gap. Vehicle imports register strong growth Imports of transport equipment, including vehicles, also witnessed substantial growth during the month. The import bill for the category increased by 40% to $420 million. The increase in vehicle and transport-related imports added further pressure to the country’s import expenditure, particularly as several other major import categories also recorded double-digit growth. Textile-related imports increase Pakistan’s textile sector also recorded higher imports during July. Imports of textile-related products, including raw cotton, increased by 15% to $680 million. The rise in raw cotton and other textile inputs indicates continued demand from the country’s large textile manufacturing and export industry. Since the textile sector remains a major contributor to Pakistan’s exports, higher imports of production inputs can also be linked to industrial activity. Agricultural inputs and chemicals Imports of agricultural machinery, equipment and chemicals increased by 23%, taking the combined import bill for the category to more than $1 billion. The increase comes as demand remains high for inputs and equipment required by the agriculture sector. Higher imports of such goods can support domestic production but simultaneously add to the country’s foreign exchange requirements. Metals import bill also rises The country also witnessed a significant increase in imports of metals, including gold, iron and steel. Imports under the category increased by around 23%, while the import bill for precious metals alone crossed $730 million. The broad-based rise across food, machinery, transport, textiles, agricultural inputs and metals suggests that the increase in imports was not confined to a single sector. The latest figures indicate that controlling the trade gap will remain an important challenge for policymakers during the new fiscal year. While higher imports of machinery, industrial inputs and agricultural equipment may support economic activity, a sustained increase in imports without a corresponding rise in exports could place additional pressure on Pakistan’s external account.