ISLAMABAD: A large number of women entrepreneurs and home-based artisans have gathered in Pakistan’s federal capital to participate in the colorful two-day Islamabad Women Gala 2024, which is scheduled to conclude later today on Sunday evening.
The festival, which began the day after International Women’s Day, is organized to honor female workers who frequently face challenges in pursuing their professional aspirations and earning livelihoods for their families due to social constraints.
Hundreds of families were drawn to Lok Virsa on Saturday, where an assortment of garments, paintings, candles, jewelry, and furniture was displayed.
Speaking to Arab News, women entrepreneurs maintained the event provided a valuable platform to broaden their customer base.
“These events are very important when you are a woman entrepreneur and you are working from home,” Amber Fatima, a print designer, said. “The thing is that you get to know your market when you go to such type of exhibitions. You understand the customers, you understand what pricing you should be doing.”
Many participants, running small businesses, highlighted their reliance on online platforms for marketing.
“I don’t have a team, I don’t have a warehouse,” Maryam Ashraf, who sells candles and clothes, informed while describing the handling of her online presence as the biggest challenge.
However, she expressed satisfaction with her festival participation, which significantly boosted her customer outreach.
The gala features over 130 vibrant stalls managed by women entrepreneurs from diverse ages and economic backgrounds.
Some, like Aliya Ahsan, a former educator, embarked on entrepreneurship after leaving previous jobs or retiring.
“I learned this [candle-making] online during the coronavirus pandemic,” she told Arab News. “And I’m feeling very happy that I’m not wasting time.”
“Children have grown up,” she continued, “so now I feel that I have time and I should not waste it.”
According to Kaarandaz, a Pakistani non-profit organization, over 50 percent of women-led businesses are unregistered and face the growth and scaling challenges.
The 2022 Global Gender Report also reveals that women suffer from economic under-participation, and only 4.5 percent of them can be seen in the top corporate or legislative roles in Pakistan.
Many participants of the festival said they enjoyed running a small business as it made them financially independent and gave them an identity.
“The advantage of setting up business is that you become independent,” said Saeeda Tasleem who is in the garment business for 25 years. “You can buy anything of your own choice.”
Two-day festival celebrates women’s entrepreneurship in Pakistan amid economic inclusion challenges
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Two-day festival celebrates women’s entrepreneurship in Pakistan amid economic inclusion challenges
- The festival began a day after International Women’s Day to honor female workers earning livelihoods for their families
- Islamabad Women Gala 2024 has brought together home-based artisans who mostly rely on online marketing to sell products
Pakistan envoy attends event celebrating Guinness World Record for largest UAE flag
- Flag features 24,514 human handprints contributed by individuals from over 100 nationalities
- Pakistani expatriates took the lead and completed the project within a period of one month
ISLAMABAD: Pakistan’s envoy to the United Arab Emirates (UAE), Ambassador Faisal Niaz Tirmizi, attended an event to commemorate a new Guinness World Record set by the Pakistan Association Dubai (PAD) by creating the largest UAE flag using human handprints, his office said on Thursday.
PAD is a volunteer-run, non-profit organization established in the 1960s to serve the Pakistani expatriate community in the UAE by promoting social welfare, preserving cultural heritage, and supporting community development among the Pakistani diaspora.
“These are not merely handprints but heart prints, an expression of the community’s love, unity and dedication,” the Pakistan Embassy in the UAE quoted Tirmizi as saying.
“This initiative beautifully aligns with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and stands as a testament to the deep-rooted relationship between the Pakistani community and the UAE.”
The flag featured 24,514 human handprints contributed by people from over 100 nationalities and was unveiled in the presence of Pakistani and Emirati community members.
The record-breaking project, led by PAD, Emirates Loves Pakistan (ELP), and artist Rubab Zahra, was completed during a month-long campaign that began on Apr. 13 in Al Quoz, Dubai, the statement said.
On the occasion, PAD President Dr. Faisal Ikram expressed gratitude to all the contributors and volunteers.
“This record-breaking effort symbolizes the unity and spirit of cooperation that defines our community and perfectly embodies the essence of the Year of Community 2025,” the embassy quoted him as saying.
Pakistani expatriates in Dubai play a vital role in strengthening ties between Pakistan and the UAE, contributing significantly to the economies of both countries.
Pakistani generals vow to ‘decimate’ militants a day after school bus bombing kills four children
- The meeting terms the attack a ‘reprehensible violation’ of international norms due to the deliberate targeting of children
- Field Marshal Asim Munir describes the people of Pakistan as the military’s ‘greatest strength’ following the India standoff
ISLAMABAD: Pakistan’s top generals on Thursday vowed to “decimate” militant groups operating in its western provinces of Balochistan and Khyber Pakhtunkhwa, a day after a vehicle-borne improvised explosive device targeted a school bus in the Khuzdar district in the southwest, killing four children and two adults.
The military’s pledge follows a sharp escalation in militant violence across Pakistan, particularly in Balochistan, where separatist groups like the Baloch Liberation Army (BLA) have launched increasingly coordinated attacks on civilians and security forces. Earlier this year, a BLA assault on a passenger train led to a hostage situation, reflecting the growing scale and sophistication of the insurgency.
Islamabad has repeatedly accused India of backing these groups to destabilize the country, an allegation New Delhi has denied, attributing Pakistan’s security troubles to internal failures.
Thursday’s statement followed a meeting of Pakistan’s top army leadership to review the country’s internal and external security environment. The huddle, chaired by Field Marshal Asim Munir, was the first since a recent military standoff with India, during which both sides exchanged missile and drone attacks.
“The Forum deliberated in depth on the threat posed by India-backed terrorist proxies operating in Balochistan and Khyber Pakhtunkhwa,” the military’s media wing, Inter-Services Public Relations (ISPR), said in a statement.
“The Forum resolved that Pakistan will never allow its peace to be compromised by externally sponsored terrorism,” it continued. “The Armed Forces, in close synergy with intelligence and law enforcement agencies, will pursue all proxies and facilitators of terrorism with unrelenting resolve. These hostile elements, trained and financed to incite chaos and fear, will be dismantled and decimated with full force of national will and institutional strength.”
The generals condemned the Khuzdar attack as a “reprehensible violation” of international norms, particularly due to the deliberate targeting of children.
They also offered prayers for victims of both the Khuzdar bombing and recent casualties from Operation Bunyanum Marsoos, the military campaign launched in response to Indian strikes.
Field Marshal Munir reiterated Pakistan’s strategic stance on national defense, declaring that “no one can coerce Pakistan through the use or threat of force.”
He also praised the professionalism and readiness of the armed forces and lauded the resilience of Pakistani civilians, youth and political leadership during recent hostilities.
“The people of Pakistan are our greatest strength,” he said during the meeting. “We remain committed to their trust and expectations in our shared struggle against any foreign aggression, terrorism and extremism.”
Pakistan seeks World Bank’s technical help to fast track $20 billion development framework
- The Country Partnership Framework was approved by the World Bank’s executive directors in January
- It aims to support Pakistan’s development by promoting private sector-led growth, climate resilience
KARACHI: Pakistan on Thursday sought the World Bank’s technical assistance to fast track the implementation of the Country Partnership Framework (CPF) discussed between the two sides earlier this year, according to an official statement circulated by the finance ministry.
The World Bank’s Board of Executive Directors endorsed the framework in January, aiming to support Pakistan’s long-term development by building human capital, promoting private sector-led growth and enhancing climate resilience through up to $20 billion in pledged lending over the next decade.
A World Bank delegation led by Managing Director for Operations Anna Bjerde met with Finance Minister Muhammad Aurangzeb in Islamabad during the day to review the Bank’s financing portfolio and strengthen bilateral cooperation.
“We are focused on ensuring that climate resilience and sustainable development remain at the heart of our economic planning,” Aurangzeb said, according to the statement. “The CPF represents an important opportunity, and we aim to implement it with full coordination across key ministries and stakeholders.”
The finance ministry said Aurangzeb requested the visiting delegation “to provide technical leadership and assistance to streamline processes and ensure a prioritized and focused rollout of the CPF.”
Bjerde praised Pakistan for continuing with difficult economic reforms under challenging circumstances and for aligning its growth with environmental sustainability.
She also reiterated the Bank’s support for initiatives in areas such as taxation, energy and social protection, while emphasizing girls’ education and women’s empowerment as critical to human capital and economic resilience.
Later in the day, the delegation also met Prime Minister Shehbaz Sharif.
According to a separate statement circulated by Sharif’s office, the prime minister welcomed the delegation and thanked the World Bank for playing a key role in the country’s development.
“We are grateful to the World Bank for the Country Partnership Framework, under which development investments exceeding $20 billion will be made in Pakistan,” he said.
Bjerde, in turn, commended Pakistan’s macroeconomic performance and recent stabilization efforts, describing the CPF as a “model” for other countries.
The meeting was also attended by federal ministers, advisers, parliamentarians and senior government officials along with World Bank Country Director Najy Benhassine.
Pakistan says open to dialogue with India, with Saudi Arabia, UAE among neutral venue options
- Pakistan’s deputy prime minister says dialogue with India has to take place and will cover all outstanding issues
- Ishaq Dar says ceasefire is holding between the two states, with troops moving back to pre-standoff positions
ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar said on Thursday composite talks with India would be held at a neutral venue, such as Saudi Arabia, the United Arab Emirates (UAE) or any other mutually acceptable country, once New Delhi was ready for dialogue.
His statement followed a US-brokered ceasefire announced by President Donald Trump on May 10 to halt missile, drone and artillery exchanges between the two nuclear-armed neighbors in the wake of a deadly gun attack in Indian-administered Kashmir last month that killed 26 tourists. New Delhi blamed Pakistan for the assault, though Islamabad denied involvement.
US Secretary of State Marco Rubio subsequently mentioned after the ceasefire the two South Asian rivals had agreed to address a broad range of issues in a meeting at a neutral venue. However, the Indian authorities maintained any dialogue with Pakistan would be limited to the issue of “terrorism” and have not shown any interest so far in the said diplomatic engagement.
“The venue of the talks will be the place acceptable to both,” Dar said during a media briefing in Islamabad. “There are many candidates for it. It can be Saudi Arabia, the United Arab Emirates or any other country.”
Dar maintained talks had to be held between the two countries, adding Pakistan was ready to engage whenever India was prepared.
“We are not in a hurry and will initiate dialogue when India will be ready,” he continued. “The venue will also be decided at that time.”
The deputy prime minister said the dialogue would cover all issues between the two countries.
“It will be a composite dialogue including everything,” he informed. “Terrorism will be part of it as we are ready to talk on this with all countries because we also want to eliminate the menace of terrorism as we are the biggest victim of it.”
Dar said the ceasefire was holding, though he expressed concern over “irresponsible statements” from Indian officials.
“I think the political compulsion is coming in front of them [the Indian leaders],” he said, adding the ceasefire was maintained by the armed forces of the two countries, with the director generals of military operations on both sides in regular communication with each other.
He also informed both countries were gradually restoring their forces to the pre-standoff positions.
“It won’t take months, it will be completed within the next few days,” he added.
Dar also spoke about his recent visit to China, where he attended a trilateral dialogue with China and Afghanistan, saying both countries had agreed to strengthen their diplomatic relations.
Since the Taliban takeover of Kabul, Pakistan-Afghanistan relations have remained strained, marked by border tensions, security concerns and a lack of trust.
Diplomatic engagement between Kabul and Islamabad have also remained limited, with both countries maintaining ties at the chargé d’affaires level rather than through full ambassadors.
“On the request of China, both countries agreed to enhance our diplomatic relations, though it will take time to complete procedures,” he added.
The deputy prime minister reiterated Pakistan and China had agreed to extend their joint multibillion-dollar corridor project to Afghanistan, including the construction of a road from Peshawar to Kabul to improve connectivity.
Pakistan FY26 budget to continue fiscal consolidation, focus on IMF guidelines — analysis
- Islamabad is currently holding budget talks with the IMF, likely to conclude this week
- Government has committed to fiscal consolidation in FY26 budget to ensure debt sustainability
KARACHI: Pakistan will continue fiscal consolidation, focus on IMF guidelines and bring untaxed and low tax areas into the tax net as it announces its federal budget for fiscal year 2025-26 next month, a top Pakistani brokerage house said in a budget review
Islamabad is currently holding budget talks with the IMF, which earlier this month approved a loan program review for Pakistan, unlocking a $1 billion payment which the State Bank of Pakistan said had been received. A fresh $1.4 billion loan was also approved under the IMF’s climate resilience fund.
“We expect this budget to continue fiscal consolidation, focus on IMF guidelines and bring untaxed/low tax areas in tax net,” Topline Securities said in a budget review.
The brokerage house said the government had committed with the IMF to continue with fiscal consolidation in the FY26 budget to ensure debt sustainability.
“The government targets primary surplus of 1.6% of GDP (vs. 2.0-2.1% of GDP in FY25), a surplus for the third consecutive year after two decades. The government has also committed to use any windfall dividend expected from the central bank over and above 1% of GDP to retire debt,” the review said.
The analysis predicted the Federal Board of Revenue’s FY26 tax revenue growth target could be the lowest in six years.
“FBR revenue target is expected at Rs14.1-14.3 trillion, up 16-18% YoY, which will be the lowest percent growth in the last 6 years,” it said.
The FBR has achieved a five-year revenue Compound Annual Growth Rate of 25% from FY21-25.
“We believe, out of this required 16-18% growth, approximately 12% would be achieved through autonomous growth driven by real GDP growth of 3.6% and inflation of 7.7%. The remaining 4-5% growth translates into additional tax measures of Rs500-600 billion,” the analysis estimated.
Revenue measures expected include a change in the GST calculation price of sugar, the likely introduction of taxes on pension, retailers and wholesalers and a likely increase in federal excise duty on cigarettes, fertilizer products and pesticides by 500bps. A tax on the income of freelancers, vloggers and YouTubers is also expected.
“Government is expected to announce some relief measures namely (1) extension in exemption limit on salary or reduction of tax rate by 2.5% for all salary brackets, (2) rationalization of duties on trade, (3) likely housing finance subsidy, (4) inflation adjustment in minimum salary and unconditional cash transfer, and (5) some rationalization in super tax,” the analysis said.
It said the government would reportedly set a GDP growth target of 3.5-4.5% “while we expect GDP growth target for FY26 at 3.5-4.0% led by services.”
The analysis predicted the budget was likely to be neutral for the stock market in the short-term, neutral to positive for cement, steel, oil and gas, consumers, and independent power producers, and neutral for oil marketing firms, IT, banks, pharma, autos and textile.
Pakistan’s 37-month $7 billion IMF loan program, approved on Sept. 25, 2024, aims to build resilience and enable sustainable growth. Key priorities include entrenching macroeconomic sustainability through implementation of sound macro policies, including rebuilding international reserve buffers and broadening of the tax base; advancing reforms to strengthen competition and raise productivity and competitiveness; reforming state-owned enterprises and improving public service provision and energy sector viability; and building climate resilience.
Highlighting progress in Pakistani policies to stabilize the economy, the IMF said earlier this month when it approved the latest tranche that Pakistan’s fiscal performance had been strong, with a primary surplus of 2.0% of GDP achieved in the first half of FY25, keeping Pakistan on track to meet the end-FY25 target of 2.1% of GDP.
“Inflation fell to a historic low of 0.3% in April, and progress on disinflation and steadier domestic and external conditions, have allowed the State Bank of Pakistan to cut the policy rate by a total of 1100 bps since June 2025,” the IMF added.
“Gross reserves stood at $10.3 billion at end-April, up from $9.4 billion in August 2024, and are projected to reach $13.9 billion by end-June 2025 and continue to be rebuilt over the medium term.”
