Business
New funds to bridge $15b gap | The Express Tribune
KARACHI:
The Securities and Exchange Commission of Pakistan (SECP) has launched a new category of mutual funds titled Infrastructure Schemes under the framework of open-end collective investment schemes, in a bid to mobilise long-term domestic savings for infrastructure development.
The initiative, identified as a key milestone under the Fund Management Department’s Roadmap 2025-26, was first discussed at the Mutual Fund Focus Group Session earlier this year. Following extensive consultations with the Mutual Funds Association of Pakistan (MUFAP) and other stakeholders, SECP finalised a framework aimed at regulatory clarity, investor protection, and alignment with national development priorities.
Pakistan requires nearly $15 billion annually to meet its infrastructure financing needs, but current spending stands at only 2.1% of GDP, far below the international benchmark of 8-10%. By carving out a dedicated regulatory category, SECP hopes to provide greater visibility to infrastructure-focused funds and give investors structured access to projects of national importance.
“SECP’s introduction of a dedicated framework for Infrastructure Mutual Funds marks a transformative step for Pakistan’s capital markets and economy,” said Deputy Head of Trading at Arif Habib Ltd, Ali Najib.
For PSX and its investors, this development creates new investment avenues, particularly in long-term infrastructure sectors like energy, transport, housing, and healthcare, enhancing portfolio diversification and stability, he noted. Institutional and retail investors gain structured, transparent access to projects of national importance, potentially boosting liquidity and market depth.
For the common person, the framework indirectly benefits society by channelling savings into infrastructure development, leading to job creation, improved services, and better living standards while promoting sustainable economic growth, Najib added.
Under the new regulations, Asset Management Companies (AMCs) can classify infrastructure schemes as equity, debt, or hybrid funds. Investment opportunities cover a wide spectrum, including energy, transport, logistics, water, sanitation, communications, and social infrastructure such as hospitals, schools, industrial parks, affordable housing, and tourism facilities.
To boost investor confidence, minimum fund sizes have been set at Rs100 million for perpetual schemes. AMCs must also invest at least Rs25 million as seed capital in closed-end schemes exceeding three years’ maturity, ensuring manager-investor alignment. Such schemes may allow periodic subscriptions and redemptions after one year, with conditions clearly defined in offering documents.
The framework provides flexibility on Net Asset Value (NAV) disclosures, requiring updates at intervals not exceeding one month. Additionally, schemes must maintain at least 70% of net assets in infrastructure securities, with any shortfall to be regularised within three months.
Management fees have been capped at 3% for equity schemes and 1.5% for debt schemes, with hybrid funds following a weighted average formula. Sales loads are prohibited, though contingent loads may apply for early redemptions in closed-end schemes.
Maaz Azam, Research Head at Optimus Capital Management, termed the framework an “alternative investment avenue” that could strengthen transparency and accountability in infrastructure projects. He observed that corruption and poor quality often mar public projects, but a regulated fund structure could enforce higher standards and return-oriented practices. “This is a good step,” Azam said. “It gives investors exposure to a new asset class, while the country benefits from long-term infrastructure development.”
The SECP initiative is seen as part of broader efforts to expand the role of capital markets in Pakistan’s economic development. By bridging the infrastructure financing gap, the regulator aims to attract both domestic and international investors while reinforcing confidence in the fund management industry.
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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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The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Gold price today: How much 22K, 24K gold cost in Delhi, Patna & other cities – Check rates – The Times of India
Gold prices climbed to a fresh lifetime high in the domestic market on Thursday amid sustained buying by jewellers and stockists, according to the All India Sarafa Association.Gold advanced by Rs 800 to hit a new peak of Rs 1,47,300 per 10 grams (inclusive of all taxes), extending gains for the fifth consecutive session. The yellow metal had closed at Rs 1,46,500 per 10 grams in the previous session.Since the start of 2026, gold prices have surged Rs 9,600, or around 7 per cent, supported by persistent demand in the physical market. In overseas trade, spot gold slipped USD 12.22, or 0.26 per cent, to USD 4,614.45 per ounce, after having touched a record high of USD 4,643.06 per ounce in the previous session.Here is how much gold costs in major Indian cities today:
Gold price in Delhi today
The price of 22K gold in Delhi is Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Chennai today
In Chennai, 22K gold costs Rs 13,290 per gram, up Rs 10, while 24K gold is priced at Rs 14,498 per gram, higher by Rs 10.
Gold price in Mumbai today
Mumbai markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Ahmedabad today
In Ahmedabad, 22K gold is priced at Rs 13,130 per gram, down Rs 75, while 24K gold costs Rs 14,323 per gram, lower by Rs 82.
Gold price in Kolkata today
Kolkata markets price 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Jaipur today
In Jaipur, 22K gold costs Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Hyderabad today
Hyderabad sees 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold is priced at Rs 14,318 per gram, lower by Rs 82.
Gold price in Bhubaneswar today
Bhubaneswar markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold costs Rs 14,318 per gram, lower by Rs 82.
Gold price in Patna today
In Patna, 22K gold costs Rs 13,130 per gram, down Rs 75, while 24K gold is priced at Rs 14,323 per gram, lower by Rs 82.
Gold price in Lucknow today
Lucknow markets see 22K gold priced at Rs 13,140 per gram, down Rs 75, while 24K gold costs Rs 14,333 per gram, lower by Rs 82.
National Startup Day 2026: How India’s Startups Are Shaping The Future
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