- Pakistan will export 50,000 metric tons of IRRI-6 rice to Bangladesh under a G2G deal, following a tender by the Trading Corporation of Pakistan. The tender, opened on Jan 6, 2025, received bids from 11 exporters, with prices ranging from $498.40 to $523.50/metric ton.
- Pakistan will not import wheat in 2024 due to sufficient stock, confirmed MNF&R Secretary Waseem Ajmal Chaudhry. Both federal and provincial governments have ruled out imports, and efforts will focus on increasing private sector storage capacity. The government mandated support-price has also been stopped from this season onwards.
- Barrick Gold’s proven and probable gold reserves surged 23% to 17.4 million ounces in 2024, driven by its Reko Diq copper-gold project in Pakistan. The company added 13 million ounces to its probable reserves after completing a feasibility study. Barrick, which owns 50% of Reko Diq, expects production to begin by 2028.
- Khyber Pakhtunkhwa’s tax collection surged 46% to Rs 28.92 billion from July to January, reflecting economic growth and fiscal discipline. Advisor Muzzamil Aslam highlighted that non-tax revenue exceeds 55%, pushing overall revenue growth beyond 50%.
- Finance Minister Aurangzeb emphasized managing population growth and climate change for Pakistan’s sustainability at the "Breathe Pakistan" conference. The State Bank plans to issue guidelines for a green economy framework. The conference gathered experts and policymakers with high-level speakers discussing climate-related issues.
- President Trump signed an executive order imposing economic and travel sanctions on those involved in ICC investigations of US citizens or allies like Israel. Meanwhile, Egypt and Jordan warned that Trump's plan to displace Palestinians from Gaza could reignite conflict and harm stability. US Secretary of State Rubio will boycott the G20 talks in South Africa, calling its agenda “anti-American”.
AGRI-UPDATES - COMMODITIES, POLICY & DEVELOPMENTS
- Pakistan to Export Rice to Bangladesh: Pakistan will export 50,000 metric tons of IRRI-6 rice to Bangladesh under a G2G deal, following a tender by the Trading Corporation of Pakistan. The tender, opened on Jan 6, 2025, received bids from 11 exporters, with prices ranging from $498.40 to $523.50/metric ton. [BR]
- Pakistan Halts Wheat Imports for 2024: Pakistan will not import wheat in 2024 due to sufficient stock, confirmed MNF&R Secretary Waseem Ajmal Chaudhry. Both federal and provincial governments have ruled out imports, and efforts will focus on increasing private sector storage capacity. In response to concerns about the wheat procurement policy for 2024-25, the secretary stated that PM Shehbaz Sharif has formed a committee to develop a procurement plan, with recommendations to be submitted soon. [BR] [Dawn]
- Shehbaz, Hamza Acquitted in Sugar Mills Case: An anti-corruption court acquitted PM Shehbaz Sharif and his son Hamza in the Ramzan Sugar Mills case, citing jurisdictional issues after NAB law amendments. The prosecution alleged they misused authority as Punjab CM and caused a Rs 213 million loss, but the defence argued NAB couldn't prosecute cases below Rs 500 million. A detailed verdict will follow later. [Dawn]
- APTMA Opposes Grid Transition Levy: Aptma has rejected the grid transition levy on gas tariffs for captive consumers, warning of negative impacts on exports, jobs, and economic stability. The levy starts at 5% on gas/RLNG consumption, rising to 10% in July 2025 and 20% by August 2026, which Aptma says exceeds the agreed principle of cost equalization with grid power. [BR]
- Gwadar Slaughterhouse Exports Donkeys: A new slaughterhouse in Gwadar has started processing donkey meat, bones, and hides for export to China, where they are used in making e-jiao. Officials informed the National Assembly committee that exporting by-products is more viable than live donkeys under the China-Pakistan agreement. [Geo]
- KP Panel Reviews Environmental Measures: The Khyber Pakhtunkhwa Assembly’s Standing Committee on Forests, Environment, and Climate Change discussed the establishment of an Environment Protection Tribunal, a ban on poplar wood transportation in containers, and the adoption of zig-zag technology in brick kilns. The meeting, chaired by Arif Ahmadzai, was attended by CM aide Pir Musawir Khan, MPAs, and officials from the forest and law departments. [ET]
- PCRWR Declares 28 Bottled Water Brands Unsafe: The Pakistan Council for Research in Water Resources (PCRWR) declared 28 bottled water brands unsafe due to microbiological or chemical contamination. Out of 176 samples collected from 20 cities, several brands exceeded safe limits for sodium, arsenic, or potassium. Ten brands, including Miran Drinking Water and Pak Aqua, had excessive sodium, while five, including One Pure and Indus, contained high arsenic levels. Hunza Utter Water was found unsafe due to excessive potassium. [Dawn]
ENERGY - WEATHER, WATER & POWER
- Barrick Gold Reserves Rise on Reko Diq: Barrick Gold’s proven and probable gold reserves surged 23% to 17.4 million ounces in 2024, driven by its Reko Diq copper-gold project in Pakistan. The company added 13 million ounces to its probable reserves after completing a feasibility study. Barrick, which owns 50% of Reko Diq, expects production to begin by 2028, calling it one of the world’s largest underdeveloped copper-gold deposits. [Dawn] [ET] [ET]
- Minister Warns of Energy Sector Crisis: Petroleum Minister Musadik Malik warned of “isolated bankruptcy” in the sector without gas price reforms and rationalized electricity rates. He blamed the PTI government for LNG oversupply and IMF-driven policy shifts. He announced a biofuel-ethanol policy and noted SNGPL’s gas loss reduction, while SSGCL faced higher losses, mainly in Balochistan. [Dawn]
- Pakistan to Renegotiate LNG Deal: Pakistan will renegotiate its LNG deal with Qatar in 2025 to secure better terms, as Petroleum Minister Musadik Malik called the current agreement costly. He also highlighted Azerbaijan’s more flexible LNG contract and announced upcoming refinery upgrades and a biofuel policy. [The News]
- Kia Launches EV9-GT in Pakistan: Kia Lucky Motors launched the EV9-GT Line SUV in Pakistan for Rs 43.2 million, featuring a 99.8 kWh battery with a 505 km range. It supports 400V/800V charging, AWD with 700 Nm torque, and accelerates 0-100 km/h in 5.3 seconds. [PT]
- Energy Committee Forms Subcommittee: The Energy Committee formed a subcommittee, led by Syed Naveed Qamar, to draft CSR and capacity-building guidelines. It also reviewed gas deals, private sector exploration, refinery upgrades, and plans for a biofuel policy briefing. [MG]
- Customs Agents to Suspend Services: The Pakistan Customs Agents Association plans to suspend import and export clearance services nationwide in 15 days, citing corruption and license suspensions. Chairman Saifullah Khan accused customs officials of demanding bribes and unprofessional conduct. Business chambers and trade bodies have been urged to seek alternative customs clearance arrangements. [BR]
PAKISTAN - ECONOMICS, POLITICS & SECURITY
- Lahore Denies PTI Rally Request: Lahore authorities rejected PTI's request to hold a rally at Minar-e-Pakistan on February 8, citing security concerns due to major events in the city. The decision came as the PTI planned to mark the first anniversary of the 2023 elections as a "Black Day." [Geo]
- KP Tax Collection Rises 46%: Khyber Pakhtunkhwa’s tax collection surged 46% to Rs 28.92 billion from July to January, reflecting economic growth and fiscal discipline. Advisor Muzzamil Aslam highlighted that non-tax revenue exceeds 55%, pushing overall revenue growth beyond 50%. [ET]
- SBP Reserves Rise to $11.42 Billion: SBP's forex reserves rose by $45.9 million to $11.42 billion, while total reserves fell by $8 million to $16.04 billion due to a $53.9 million drop in commercial bank reserves. SBP reserves have grown by $2.03 billion this fiscal year but declined by $292.2 million in 2025. [Dawn] [ET] [MG]
- Pakistan's Public Debt Exceeds Limit: Pakistan's public debt remained above the sustainable level last fiscal year, violating the Fiscal Responsibility and Debt Limitation Act due to high interest expenses. The Debt Policy Statement 2025 confirmed that the government failed to reduce debt to the 56.75% target for FY 2023-24, with a tighter 56% ceiling set for this year. A World Bank report also highlighted transparency issues in Pakistan’s debt reporting. [ET]
- Justice Shah Warns of Climate Injustice: Justice Syed Mansoor Ali Shah warned of “dual injustice” in the Global South, where climate change disproportionately harms developing nations while structural barriers limit their response. He called for climate finance as a matter of justice, not charity. Former climate minister Sherry Rehman criticized UN-led climate conferences for failing to secure funds and urged Pakistan to treat climate change as an urgent domestic issue. She highlighted that air pollution alone causes 128,000 deaths annually and reduces life expectancy by 3.9 years. [Dawn] [Dawn]
- Breathe Pakistan Climate Conference: Finance Minister Muhammad Aurangzeb emphasized managing population growth and climate change for Pakistan’s sustainability at the "Breathe Pakistan" conference. He announced that the State Bank will issue guidelines for a green economy framework. The conference gathered experts and policymakers, with Planning Minister Ahsan Iqbal stressing Pakistan’s climate vulnerability and the need for collective action. [BR] [Dawn] [The News]
INTERNATIONAL - MARKET, POLITICS, SECURITY & DEVELOPMENT
- Pakistan Rejects Gaza Displacement Plan: Pakistan has rejected US President Trump’s proposal to displace Palestinians from Gaza, calling it “deeply troubling and unjust.” FO Spokesperson Shafqat Ali Khan reaffirmed support for a two-state solution based on UN resolutions. He emphasized Pakistan’s commitment to a sovereign Palestinian state with pre-1967 borders and Al-Quds as its capital. [BR] [Dawn] [ET]
- Rubio to Boycott G20 Talks: US Secretary of State Marco Rubio will boycott the G20 talks in South Africa, calling its agenda “anti-American.” His move follows Trump’s criticism of South Africa’s land reforms. Rubio condemned the G20’s focus on “solidarity, equality, & sustainability,” linking it to DEI and climate policies, and said he won’t “coddle anti-Americanism.” [BR]
- Oil Prices Edge Up After Aramco Hike: Oil prices rose slightly after Saudi Aramco raised March crude prices, but gains remained limited following a 2% drop the previous day. Brent crude rose 0.6% to $75.05, while WTI climbed 0.7% to $71.51. The previous decline was driven by a surge in US crude stockpiles and concerns over new US-China trade tariffs on energy products. [BR]
- Trump Sanctions ICC, Mideast Tensions Rise: President Trump signed an executive order imposing economic and travel sanctions on those involved in ICC investigations of US citizens or allies like Israel. Meanwhile, Egypt warned that Trump's plan to displace Palestinians from Gaza could reignite conflict, while Jordan cautioned it would destabilize the region and threaten its peace with Israel. [Al Jazeera]
- Foreign Outflows from Indian Stocks Hit Record: Global funds’ selling streak in Indian shares has hit a fresh record, as a slowdown in corporate earnings deepens and a broader rotation out of emerging-market assets intensifies. Overseas funds have sold local shares for 22 straight trading days through Monday on a net basis, surpassing the previous such streak in March 2020, according to data compiled by Bloomberg. [BBG]
- US Goods Trade Deficit Hits Record $1.2 Trillion: The U.S. trade deficit in goods hit a record $1.2 trillion in 2024 as imports surged 6.6% to $4.1 trillion, driven by auto parts, weight-loss drugs, and food. Exports also reached a record $3.2 trillion, led by services, but goods exports grew slowly due to a strong dollar and weaker global demand. Auto exports fell $10.8 billion, impacted by U.S. industry strikes and Chinese competition. [NYT]
- Government Probes Foreign-Funded Projects: The government is investigating foreign-funded development projects flagged in the 2024-25 audit reports to address IMF concerns. The Senate Committee on Water Resources was informed that the DAC is reviewing 2023-24 audit reports. [BR]
- Opinion: Challenges & Road Ahead - “The recently published "State of Pakistan's Economy Report 2025", where Q-block pitched a turnaround narrative, asserting that sound macroeconomic management, inflation control, and fiscal discipline have set the stage for sustainable growth.? However, a critical analysis reveals that much of this stability is fragile and reliant on temporary factors such as the International Monetary Fund's (IMF) support, remittance inflows, and administrative price controls.” - By Faraz Ahmed [ET]
