ÂÜÀòÊÓÆ”

Pakistan tightens barter trade rules, limits mechanism to Afghanistan, Iran and Russia

Pakistan tightens barter trade rules, limits mechanism to Afghanistan, Iran and Russia
A truck driver rests beside his stalled vehicle along a road near the closed Pakistan-Afghanistan border town of Torkham on October 19, 2025. (AFP)
Short Url
Updated 8 min 8 sec ago

Pakistan tightens barter trade rules, limits mechanism to Afghanistan, Iran and Russia

Pakistan tightens barter trade rules, limits mechanism to Afghanistan, Iran and Russia
  • New order introduces definitions for “sanctioned entities” and quarterly value reconciliation requirements
  • Move narrows scope of barter trade framework first launched in 2023 to ease dollar shortages

ISLAMABAD: Pakistan has amended its barter trade framework to restrict transactions under the business-to-business (B2B) mechanism to Afghanistan, Iran and Russia, tightening oversight of non-cash trade conducted outside the dollar system, according to a notification issued by the Ministry of Commerce this month.

Pakistan first introduced the B2B Barter Trade Mechanism through SRO 642 in June 2023, enabling trade in goods such as energy, food and minerals with Afghanistan, Iran and Russia.

The updated order now limits eligible partners, imposes new compliance obligations and integrates sanction-screening requirements aligned with the Foreign Office notifications.

“This Order shall apply to Afghanistan, Iran and Russia only,” the notification, dated Oct. 17, said.

The amendment also introduced new definitions and responsibilities for traders.

“‘Sanctioned entity’ means any individual or company that is prohibited from engaging in trade activities due to the enforcement of trade prohibitions by the United Nations (UN) and others, as notified by the Ministry of Foreign Affairs from time to time,” it stated.

Under the revised framework, Pakistani traders must reconcile the value of goods quarterly and within a specified timeframe.

“The Pakistani trader shall be responsible to net-off value of goods on a quarterly basis, within one hundred and twenty days of the transaction allowed by the concerned regulatory Collectorate of Customs in the authorization,” the document said.

The notification further specifies that all companies forming part of a trading consortium share liability for tax or customs violations.

“In case of a consortium of traders, all entities who are part of a consortium shall be jointly and severally responsible if found involved in or having committed any offence or failed to pay duties or taxes under the Customs Act, 1969.”

The move to operationalize barter trade is seen as a response to Pakistan’s acute foreign-exchange crunch and the need to bypass traditional dollar-based trade channels.

Key export items under the mechanism include agricultural products, textiles and leather goods, while permitted imports cover crude oil, LNG, fertilizers and industrial machinery.

"Many concerns of business community of both Iran and Pakistan have been taken into account and addressed in the new SRO," Muhammad Mudassir Tipu, Pakistan's ambassador to Iran, wrote on X.

"We hope it will substantially elevate Pakistan-Iran trade & diversify its base. I urge industry and business community of both countries to take full benefit from the new SRO and help expand the bilateral trade. I also urge Pak-Iran Chambers and Trade bodies to share this SRO with their members enabling them to gain mutually-beneficial trade dividends."


Pakistan to fast-track reforms for small industries, launch AI platform for women entrepreneurs

Pakistan to fast-track reforms for small industries, launch AI platform for women entrepreneurs
Updated 9 sec ago

Pakistan to fast-track reforms for small industries, launch AI platform for women entrepreneurs

Pakistan to fast-track reforms for small industries, launch AI platform for women entrepreneurs
  • PM says Pakistan’s industrial growth depends on development of small and household industries
  • New AI-based “Womenpreneurship Platform” to guide women on business registration, taxes and skills

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed authorities to set a clear timeline for implementing reforms for small and medium-sized industries and accelerate work on an AI-driven platform to support women entrepreneurs, his office said.

Small and medium-sized enterprises (SMEs) in Pakistan constitute over 90 percent of business establishments and are estimated to contribute around 40 percent of the country’s gross domestic product (GDP) and roughly 25 percent of exports, while employing as much as 78 percent of the non-agricultural labor force.

Access to finance, however, remains a significant barrier in the Pakistani SME sector. According to a recent policy briefing, only 6-7 percent of private-sector credit is extended to SMEs.

Economists say growth in the SME sector is critical for expanding exports, processing agricultural goods and creating jobs in a country facing slow manufacturing expansion and limited credit access for small producers.

“Pakistan’s industrial development depends on the growth of household, small and medium-sized industries,” the prime minister said after he chaired a meeting on SMEs. “In developed countries, SMEs provide raw materials to large industries.”

Sharif also called for steps to enhance women’s participation in small and medium-sized industries.

“To encourage women’s participation in the SME sector, a Womenpreneurship Platform based on artificial intelligence is being established,” the statement from Sharif’s office said.

“This platform will provide comprehensive information to women regarding business sectors, as well as guidance on registration, tax matters, and skill awareness.”

A roadmap was also presented to integrate SMEs into the formal economy.

Meanwhile, the prime minister also directed that registration of household industries be encouraged to help them obtain business loans more easily, and instructed officials to ensure the earliest implementation of the Small and Medium Enterprises Development Authority (SMEDA) roadmap.


Pakistan launches second phase of nationwide polio eradication drive

Pakistan launches second phase of nationwide polio eradication drive
Updated 13 min 12 sec ago

Pakistan launches second phase of nationwide polio eradication drive

Pakistan launches second phase of nationwide polio eradication drive
  • Three-day campaign part of larger drive launched last week with aim to reach 45 million children
  • Pakistan, home to over 240 million people, has reported 29 polio cases so far this year, 74 last year

PESHAWAR: Pakistan launched the second phase of a nationwide polio immunization campaign from today, Monday, until Oct. 23, aiming to vaccinate more than a million children in the northwestern Khyber Pakhtunkhwa province where it has seen the highest number of cases this year, a polio spokesperson said.

The three-day campaign is part of a larger drive launched last week with the aim to reach 45 million children nationwide.

Pakistan is among the last two nations in the world, along with Afghanistan, where the disease remains endemic. Last year, the country of over 240 million reported 29 polio cases, including 18 in Khyber Pakhtunkhwa, nine in Sindh and one each in Punjab and Gilgit-Baltistan.

“During this phase, nearly one million children in Bannu and Dera Ismail Khan divisions will be administered polio drops,” Amjad Ali, a polio eradication program spokesperson said, referring to districts in the Khyber Pakhtunkhwa province.

“Children in Bannu, Lakki Marwat, North Waziristan, Dera Ismail Khan, Tank and lower South Waziristan will receive polio vaccinations during this round.”

Polio is a highly infectious and incurable disease that can cause lifelong paralysis. The only effective protection is through repeated doses of the Oral Polio Vaccine for every child under five during each campaign, alongside timely completion of all routine immunizations.

Pakistan has made remarkable progress since the 1990s, when annual polio cases exceeded 20,000, bringing them down to just eight by 2018. However, the country recorded 74 cases in 2024, a sharp increase from six in 2023 and only one in 2021.

Pakistan’s efforts to eliminate poliovirus have been hampered by parental refusals, widespread misinformation and repeated attacks on anti-polio workers by militant groups. In remote and volatile areas, vaccination teams often operate under police protection, though security personnel themselves have also been targeted and killed in attacks.


Lahore ranks world’s No. 2 for air pollution as city braces for Diwali smog

Lahore ranks world’s No. 2 for air pollution as city braces for Diwali smog
Updated 20 October 2025

Lahore ranks world’s No. 2 for air pollution as city braces for Diwali smog

Lahore ranks world’s No. 2 for air pollution as city braces for Diwali smog
  • On Monday, Lahore’s PM2.5 concentration was 31.1 times the WHO annual PM2.5 guideline value
  • Smog routinely worsens Oct–Feb in Punjab, prompting school closures and emergency curbs in recent years

ISLAMABAD: The Pakistani city of Lahore ranked the second-worst country globally for air quality on Monday, with pollution hitting levels reported as 31 times the WHO’s annual PM2.5 guideline value, according to global monitoring data, as the provincial government launched anti-smog operations ahead of the Hindu festival of Diwali.

Punjab province, and its capital Lahore, face a recurring “smog season” from October to February, driven by crop-residue burning, vehicular and industrial emissions, and stagnant winter weather conditions. The hazy blanket has previously pushed the Air Quality Index (AQI) into hazardous levels of above 300 in Lahore in November 2024, forcing school and office closures and reduced construction activity. 

On Sunday, the Punjab Smog Monitoring Center forecast Lahore’s AQI between 210 and 230 and cautioned that morning and night hours would see the worst pollution, with a slight improvement expected between 1-5pm. On Monday morning, Pakistan ranked the second worst country globally for air quality, after Delhi, data from the Swiss air-quality monitoring organization, IQAir, revealed. The city had a PM2.5 concentration 31.1 times the World Health Organization annual PM2.5 guideline value.

Winds of 4–7 km/h from the east and west could carry pollution from the Indian cities of Amritsar, Ludhiana and Haryana toward cities in Pakistani Punjab including Lahore, Faisalabad, Sahiwal, Bahawalpur, Rahim Yar Khan and Multan, the Punjab government advisory said.

“Every citizen’s role in preventing and reducing smog becomes a cause of major change and success,” Senior Provincial Minister Maryam Aurangzeb said, appealing for adherence to environmental SOPs.

The advisory urged residents to wear masks, and said children, older people and those with respiratory illness should stay indoors due to low winds and no rain keeping particles suspended.

Municipal agencies including Water and Sanitation Agency, Lahore Development Authority and district and municipal bodies were directed to conduct water sprinkling, prevent burning of garbage and crop residue and ensure construction sites and material-carrying vehicles are covered. 

Punjab has also begun targeted “anti-smog gun” operations this season after trial runs, part of a wider push that includes new enforcement rules and traffic measures to cut emissions in the provincial capital. 

The smog crisis in Lahore, similar to the situation in India’s capital Delhi, tends to worsen during cooler months due to temperature inversion trapping pollution closer to the ground.


Pakistan’s first biopharma plant introduces breakthrough diabetes drug Zeptide

Pakistan’s first biopharma plant introduces breakthrough diabetes drug Zeptide
Updated 20 October 2025

Pakistan’s first biopharma plant introduces breakthrough diabetes drug Zeptide

Pakistan’s first biopharma plant introduces breakthrough diabetes drug Zeptide
  • Tirzepatide launched as pre-filled syringe, developed using IPO proceeds, BF Biosciences says
  • Pakistan faces one of the world’s highest diabetes burdens, affecting over 33 million adults

ISLAMABAD: Pakistan’s BF Biosciences Limited, a subsidiary of Ferozsons Laboratories Limited, has launched its new product Zeptide¼ (Tirzepatide) for the treatment of type 2 diabetes and obesity, the company said in a filing to the Pakistan Stock Exchange (PSX) this month.

The launch comes as Pakistan faces one of the world’s highest diabetes burdens, affecting over 33 million adults, which is about 26 percent of the adult population. The country ranks third globally in the absolute number of people with diabetes and faces a growing crisis as nine million people remain undiagnosed. According to the World Health Organization, 57 percent of women and 41 percent of men in the country are overweight or obese, with obesity increasing the risk of Type 2 diabetes by 7 times.

“Tirzepatide is a synthetic polypeptide molecule that acts as a dual agonist for the GLP-1 and GIP receptors, meaning it targets both the glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptor pathways,” the company said in a listing earlier this month.

BF Biosciences said Zeptide, approved by the US Food and Drug Administration (FDA), is produced at its new state-of-the-art European prefilled-syringes facility. 

“The pre-filled syringe is in a patient-friendly format that eliminates dosing errors,” it said, adding that the product had been tested for “quality, chemical structure and potency” both in the United States and at a leading national university in Pakistan.

The company said the development of ZeptideÂź was part of the IPO proceeds utilization outlined in its prospectus.

“As the 1st Biopharmaceutical Plant in Pakistan, BF Biosciences Limited has remained committed to the production of essential medicines for the treatment of HCV, Cancer, Cardiology, Diabetes, nephrology and other therapeutic areas for over a decade,” the company said.

“We are confident that the launch of Zeptide¼ will have a positive impact on the Company’s growth and will further strengthen our mission to address critical unmet patient needs,” the filing added.


Pakistan launches first hyperspectral satellite from China to boost agriculture, climate mapping

Pakistan launches first hyperspectral satellite from China to boost agriculture, climate mapping
Updated 20 October 2025

Pakistan launches first hyperspectral satellite from China to boost agriculture, climate mapping

Pakistan launches first hyperspectral satellite from China to boost agriculture, climate mapping
  • HS-1 satellite to strengthen Pakistan’s space-based monitoring of agriculture, urban growth and climate resilience
  • SUPARCO says data from the mission will improve crop yield estimates and disaster-response capability across the country

ISLAMABAD: Pakistan’s Space and Upper Atmosphere Research Commission (SUPARCO) on Sunday launched the country’s first Hyperspectral Satellite (HS-1) from China’s Jiuquan Satellite Launch Center, state-run Radio Pakistan reported, marking what officials described as a major leap in national space and climate-monitoring capability.

The HS-1 mission will capture hundreds of spectral bands across visible and infrared wavelengths to help detect changes in soil, vegetation, water bodies and man-made structures with far greater precision than conventional imaging satellites. Officials say the technology will be applied to improve agricultural productivity, monitor environmental degradation and strengthen early-warning systems for floods and landslides.

“Pakistan has achieved a major milestone in its space program with the successful launch of its first Hyperspectral Satellite, HS-1, from the Chinese Satellite Launch Center,” Radio Pakistan reported. 

“The satellite is expected to significantly enhance national capacities in areas such as precision agriculture, environmental monitoring, urban planning, and disaster management. Its high-resolution data will support improved resource management and strengthen Pakistan’s resilience to climate-related challenges.”

SUPARCO, the national space agency, said last week the satellite will provide “detailed insights into crop health, soil moisture and irrigation patterns, enhancing yield estimation by 15–20 percent and contributing significantly to food security.” 

The agency added that HS-1’s sensors would also enable mapping of infrastructure and tracking of urban expansion to support sustainable city planning and land-use management.

“The mission aligns with the National Space Policy and SUPARCO’s Vision 2047, which aim to position Pakistan at the forefront of space technology and innovation for sustainable national development,” the space agency added. 

The new satellite will join Pakistan’s growing remote-sensing fleet, which includes PRSS-1 launched in 2018 and two Earth-observation satellites— EO-1 and KS-1— placed in orbit earlier this year. 

Officials said integrating HS-1 will expand Pakistan’s capacity for disaster assessment, water-resource modelling and climate-change monitoring, while deepening collaboration with China in the civilian space sector.