Business
IMF Mission to Visit Pakistan on Sept 25 for Second Review of $7bn Loan Program – SUCH TV
The International Monetary Fund (IMF) team is set to visit Pakistan on September 25 to conduct the second review under the $7 billion Extended Fund Facility (EFF), The News reported on Friday. This visit aims to assess the country’s progress on economic reforms and fiscal targets agreed with the IMF.
In the wake of devastating floods, the macroeconomic framework might have to be revised downward/re-adjusted, including the real GDP growth rate, CPI-based inflation, monetary policy, exports, imports, and tax revenues for the current fiscal year.
The GDP growth is likely to be revised downward from 4.2% due to the severe impact on the agriculture sector and possible escalation in inflationary pressures owing to supply disruptions of food items.
The CPI-based inflation might go up beyond the envisaged target of 5% to 7% for the current fiscal year.
The export sector might also witness a dip, especially in rice exports, and import,s which are expected to witness a surge mainly because of damage to the farm sector caused by floods.
The trade deficit had already widened before the floods. The implementation of Agriculture Income Tax (AIT) will also be discussed in detail, as the IMF will seek details about its potential for collection.
The tax revenue target for the end of September 2025 will also become a major headache for the Pakistani negotiators in the upcoming review talks.
The delay in releasing the Governance and Corruption Diagnostic (GDC) Assessment report has proved another bone of contention between the two sides because Islamabad had not granted permission to the IMF to release its report.
The IMF had publicly committed to publish this GCD Assessment Report by the end of August 2025, but this deadline was already missed.
“The IMF review mission is scheduled to visit Pakistan from September 25 to October 8, 2025, for second review talks and release of the third tranche worth $1.1 billion under EFF.
Both sides will have to strike an agreement on the Memorandum of Economic and Financial Policies (MEFP) for making re-adjustment in macroeconomic numbers aligned with the realities emerged on continuous devastating floods,” top official sources confirmed while talking to the publication.
Pakistan is committed to amend the Sovereign Wealth Fund (SWF) Act and other legislation, in consultation with Fund staff and in line with MEFP to adopt appropriate governance mechanisms and safeguards.
following international standards and good practices to (i) ensure that SOEs under the ownership of the SWF revert to the SOE Act’s governance principal nature as a holding company, and appropriate fiscal safeguards are in place for the SWF’s operations by end March 2026.
The review talks will take place in two stages: technical talks followed by policy-level negotiations.
The IMF team will engage with the Ministry of Finance, Ministry of Energy, Ministry of Planning, the State Bank of Pakistan, and regulatory bodies such as FBR, OGRA and NEPRA.
Separate rounds of talks will also be held with provincial governments of Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan.
Pakistan has so far received $2.1 billion under the $7 billion EFF arrangement.
To secure the next tranche, however, the government will have to demonstrate progress on structural reforms and bridge a significant fiscal gap.
The Federal Board of Revenue (FBR) has been tasked with collecting Rs. 3.1 trillion during July–September, but in the next two weeks alone, it will need to mobilise nearly Rs. 1.1 trillion to hit the quarterly target.
The FBR envisages tax collection target of Rs1.385 trillion for September 2025.
However, keeping in view the shortfall so far in the first two months, the FBR requires a collection of Rs1.44 trillion in September to materialise the desired target of Rs 3.08 trillion on September 30, 2025.
The FBR had envisaged an annual tax collection target of Rs14.13 trillion for the current fiscal year.
The revenue collection efforts were hampered by recent floods and lower receipts from utilities, leaving the FBR with a shortfall of Rs50 billion.
Of this, more than Rs25 billion in tax losses are directly linked to flood damage in Punjab, where the overall impact is estimated at Rs34 billion.
Tax offices from Sialkot to Bahawalpur have reported less collections than half of normal levels, while nine field formations, including Lahore, Gujranwala, Multan, Sahiwal, and Sargodha, have all seen significant declines.
The FBR requires a 21% year-on-year growth in tax collection to meet its July–September target, but collections until August had grown only 15%.
With these slippages and structural issues, Pakistan is expected to face tough negotiations with the IMF mission later this month.
This scribe sent a message to the Ministry of Finance spokesman and inquired about the expectation from the upcoming review talks, but got no reply till the filing of this report.
NEW DELHI: People with job cards assigned under Mahatma Gandhi National Rural Guarantee Scheme will be able to get work without disruption when transition takes place to new rural employment framework under Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) Act.Even though exact timeframe is not known yet, rural development ministry officials said the VB-G RAM G scheme will come into force in the coming financial year after the Centre frames and notifies the rules. After govt notifies the Act’s commencement date, states will get six months to make their schemes to enable implementation of the law.To ensure there is no disruption and job guarantee is upheld during transition from MGNREGA, it has been proposed to enable workers to use the same job cards issued under MGNREGA with Aadhaar-based eKYC.The officials said that as of now, around 75% of job cards have been verified with eKYC under the ongoing scheme. Moreover, ongoing projects under MGNREGA, if incomplete when the transition happens to the new scheme, would stay on course.Meanwhile, work is on to frame rules, lay out regulations on normative allocations, fund flow plan, IT framework, a national-level steering panel and social audits.Under the new law, focus will be on transparency to weed out leakages and duplicacy of work,the social audit system will be strengthened, and technology leveraged to create systems to establish work progress, timely wage payment and accountability through ‘e-measurement’ books, sources said. Demand for work will have to be entered on a digital platform. Officials made it clear the new law in no way interferes with demand-driven character of the scheme.
Business
Gurugram Attracts Rs 86,588 Crore In Real Estate Investments In 2025 As RERA Clears 131 Projects
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Alongside rising investments, Gurugram RERA strengthened regulatory oversight to safeguard homebuyer and investor interests
Gurgaon Real Estate (Representative Image)
Gurugram emerged as one of India’s top real estate investment destinations in 2025, with projects worth Rs 86,588 crore receiving regulatory approvals during the year, according to data from the Gurugram Real Estate Regulatory Authority (Gurugram RERA).
Market observers said the numbers reflect strong investor confidence in the NCR’s largest commercial and residential hub.
Gurugram RERA registered 131 projects in calendar year 2025, representing development potential of 35,455 units across housing and commercial segments.
A striking feature of the data was the dominance of large-ticket projects. Just 28 major developments accounted for investments worth Rs 59,360 crore, highlighting the growing influence of institutional capital and large developers in shaping Gurugram’s property market.
Residential assets continued to attract the bulk of investment interest. Of the total units approved, 31,455 were residential, underscoring sustained end-user demand and long-term confidence in the city’s housing fundamentals.
According to Authority data, the residential mix included 17,405 group housing units, 5,720 mixed land use units, 4,040 residential floor units, 2,122 affordable group housing units, 1,954 units under the Deen Dayal housing scheme, and 214 residential plotted colony units.
Market observers said this diversified supply pipeline indicates capital deployment across both premium and mass segments, helping reduce concentration risk and deepen market resilience.
On the commercial side, Gurugram RERA approved about 4,000 commercial units, of which 168 were dedicated to IT parks, reinforcing Gurugram’s position as a preferred hub for technology firms and Global Capability Centres.
Analysts noted that the combination of office-led employment growth and residential expansion continues to make Gurugram attractive for long-term capital deployment.
Industry experts said the scale of investments approved in 2025 highlights Gurugram’s ability to attract capital despite global uncertainty, supported by infrastructure growth, a strong corporate base and an improving regulatory environment.
“With a large pipeline of approved projects and sustained interest from developers and institutional investors, Gurugram is expected to remain a key real estate investment destination in the coming years,” a Gurugram-based real estate expert said.
Tighter regulatory checks
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to enhance transparency and safeguard homebuyer and investor interests.
“These steps included stricter scrutiny of developer submissions, mandatory site inspections by domain experts, and public consultation through mandatory notices before project registration,” an Authority official said.
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January 16, 2026, 07:44 IST
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National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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