Business
Pakistan unveils new plan to boost social projects with public and private funding | The Express Tribune
Finance Minister Muhammad Aurangzeb speaks during a Reuters interview at the 2025 annual IMF/World Bank Spring Meetings in Washington, DC, US, April 25, 2025. Photo: Reuters/ File
KARACHI:
Finance Minister Muhammad Aurangzeb, reflecting on prospects of improving philanthropy through policy and tax structure improvements, said that Pakistan’s emerging Social Impact Financing Framework, a new initiative under the Prime Minister’s Office, is aimed at mobilising public, private, and philanthropic capital for measurable social outcomes.
Speaking at the Corporate Philanthropy Awards 2025, hosted by the Pakistan Centre for Philanthropy (PCP), he said Pakistan’s corporate giving reached a record Rs25.44 billion in 2023 and could double if the government undertakes meaningful policy and tax reforms to encourage structured giving and simplify compliance. “Corporate giving worth Rs25 billion is an extraordinary milestone,” he said.
Aurangzeb said the government is modernising development financing through the new framework, which seeks to link social spending directly to measurable results. He said the initiative represents a shift from traditional, grant-based aid toward results-based and impact-linked financing to ensure every rupee achieves tangible outcomes.
“Rather than focusing on generalised spending, we are moving toward results-based and impact-linked financing,” he said. “This requires blending public, private, and philanthropic capital into cohesive, outcome-driven structures.”
He announced that one of the key projects under the framework will be Pakistan’s first Skills Impact Bond, developed with the British Asian Trust and the National Vocational and Technical Training Commission (NAVTTC).
“The Skills Impact Bond is being launched to promote skills development and sustainable livelihoods,” he said. “It will move us away from relying solely on traditional bank funding and allow us to tap into capital markets to raise financing for social purposes.”
Aurangzeb added that the British Asian Trust’s partnership brings global expertise to the program, helping Pakistan pioneer market-based social investment models that align philanthropic giving with long-term economic outcomes.
PCP’s Corporate Philanthropy Report 2023 revealed that Pakistan’s corporate sector contribution was the highest in the two decades since PCP began tracking corporate giving. Public Listed Companies contributed Rs18.23 billion, followed by Public Unlisted Companies with Rs3.28 billion and Private Limited Companies with Rs3.93 billion.
Despite the record figure, Aurangzeb and several experts highlighted policy gaps, complex tax laws, and regulatory inefficiencies that continue to constrain Pakistan’s philanthropic ecosystem.
Pakistan’s tax code offers limited incentives for charitable giving, and the non-profit certification process remains slow and cumbersome. The minister said these issues must be addressed to enhance transparency and accountability.
“Efficiency is needed at all ends,” he said, referring to bureaucratic hurdles. “We must make it easier for both donors and non-profits to operate, while ensuring credibility and oversight.”
“Philanthropy is not just an act of charity, it’s an expression of our national identity,” he said. “You are helping build a more compassionate, inclusive Pakistan.”
He reaffirmed the government’s commitment to partner with PCP and the private sector in promoting a structured culture of giving. “You are guiding, connecting, and recognising those who build with purpose and responsibility,” he said. “The government stands with you as a reliable partner – fully committed to supporting your efforts in shaping a transparent, impactful, and sustainable philanthropy ecosystem.” PCP Chairman Zaffar A Khan (SI) also addressed the gathering, emphasising that with proper facilitation, the corporate and non-profit sectors can significantly expand their contributions to Pakistan’s social development.
Last Updated:
Equity benchmark indices slip on Friday, ending a two-day winning run, as weak global cues dampened investor sentiment.
Why Is Stock Market Down Today?
Equity benchmark indices slipped on Friday, ending a two-day winning run, as weak global cues dampened investor sentiment. The BSE Sensex declined 400.76 points to settle at 85,231.92, while the NSE Nifty fell by 124 points to end the day at 26,068.15.
Among the 30 Sensex shares, 17 stocks closed in the red. Among the top losers were Tata Steel, Bajaj Finance, HCL Tech, Bajaj Finserv, and BEL falling by up to 2.58%. On the other hand, the gainers were Maruti Suzuki, Mahindra & Mahindra, Tata Motors PV, ITC, and Asian Paints rising by up to 1.17%.
Key factors behind Friday’s market decline
1. Nifty Metal index slides
The Nifty Metal index fell 1.4% after the government extended exemptions from mandatory quality-control rules for certain steel and stainless-steel grades — a move expected to increase imports and pressure domestic prices. Except for Adani Enterprises, all constituents traded lower, with Hindalco leading the decline.
Hindalco was also the top loser on the Nifty 50, dropping over 2% to ₹783.45, after a fire at its Novelis aluminium plant in Oswego, New York, on November 21. Novelis — which contributes nearly 60% of Hindalco’s revenue — had already recorded a $21 million charge in Q2 due to an earlier fire. The Oswego unit supplies aluminium for Ford’s F-150 truck line.
2. Selling pressure hits IT stocks
IT shares also declined as concerns over stretched valuations resurfaced. The slump in US tech stocks overshadowed Nvidia’s better-than-expected quarterly results, adding further pressure to domestic IT counters.
3. Weak global cues
Asian markets were broadly lower on Friday, tracking the sell-off on Wall Street. South Korea’s Kospi plunged more than 3%, while Japan’s Nikkei 225 slipped over 2%. Markets in Shanghai and Hong Kong also opened weak, extending the negative global sentiment. Overnight in the U.S., all major indices closed in the red, with the Nasdaq Composite falling 2.15%, the S&P 500 down 1.56%, and the Dow Jones Industrial Average losing 0.84%.
Currency movements further weighed on sentiment. The yen hovered near a 10-month low, though it saw a brief rebound after Japanese Finance Minister Satsuki Katayama hinted at possible intervention to limit excessive volatility. The U.S. dollar continued to strengthen and was on track for its strongest week in more than a month. Meanwhile, Japan’s latest stimulus package is projected to have an overall economic impact of $265 billion, adding another factor for markets to consider.
4. Fading hopes of a U.S. rate cut
Renewed uncertainty over US monetary policy also weighed on sentiment. Stronger-than-expected September job growth reduced the likelihood of a December rate cut. Higher U.S. rates typically pull capital away from emerging markets like India.
Adding to the caution, Federal Reserve Governor Lisa Cook, in a speech at Georgetown University, flagged risks to the financial system — including the rapid expansion of private credit and hedge-fund activity in the Treasury market — without providing clarity on near-term rate moves.
5. Volatility spikes
The India VIX jumped 13% to 13.68, signalling heightened uncertainty and potential for wider market swings.
Despite the early decline, analysts noted that markets remain close to record highs, and buying on dips could emerge later in the session, supported by improving earnings and firm domestic flows.
Nifty Technicals
On the technical front, Anand James, Chief Market Strategist at Geojit Financial Services, said the breakout above a month-long range keeps Nifty’s 26,550 target intact. However, Thursday’s move above the upper Bollinger band — followed by a close below — points to limited upside in the near term.
A failure to hold above 26,237 or a drop below 26,160 could shift momentum to the bears, with downside levels at 26,028–25,984, he added.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 21, 2025, 11:19 IST
Read More
A meeting of the National Finance Commission (NFC) has been scheduled for December 4 to discuss the implementation of IMF conditions and the new financial award.
According to sources, the meeting will focus on IMF proposals regarding changes to the NFC Award. To consult on the matter, the federal government has invited all provinces to attend the session.
Federal Finance Minister Muhammad Aurangzeb, along with the finance ministers of the four provinces, is expected to participate in the meeting.
The IMF is anticipated to support the proposals for the new National Finance Award. Sources indicated that if multiple sessions are required to finalize the award, the process could take six to eight months.
The first scheduled NFC meeting had earlier been postponed at the request of the provinces due to flood-related disruptions.
Separately, the International Monetary Fund (IMF) highlighted that corruption remains a persistent challenge in Pakistan, urging the Special Investment Facilitation Council (SIFC) to publish its first annual report.
In its Governance and Corruption Diagnostic Assessment (GCDA), the IMF stated that corruption poses serious risks to economic development and public trust.
The Fund called on the government to enhance transparency, strengthen governance structures, and immediately begin implementing a comprehensive reform agenda.
According to the report, the IMF has called on the SIFC to develop clear protocols for its operations and significantly improve transparency to ensure effective oversight and accountability.
It further recommended that the SIFC must publish its first annual report, detailing all investment deals it has facilitated, including any tax, policy, regulatory, or legislative concessions granted—along with the full rationale and the monetary value of each concession.
New Delhi: Since the post-COVID period, Indian Railways has made onboard meals optional for passengers on premium trains. While booking tickets online, passengers can now choose whether they want meals during the journey or prefer to skip them. At present, meal charges are included in the ticket fare for three major trains – Rajdhani Express, Shatabdi Express and Vande Bharat Express.
When booking on these trains, passengers must indicate their preference for onboard meals. But even if someone initially declines meals, Indian Railway Catering and Tourism Corporation (IRCTC) allows them to order food later during the journey if they change their mind. Meal charges are adjusted accordingly: added to the fare if selected or deducted if declined.
A frequent point of confusion among travellers relates to the complimentary one-litre Rail Neer water bottle. Many wonder whether skipping meals also means losing the free water bottle that comes with Rajdhani and other premium train journeys. Passengers often ask if the water bottle is tied to the meal option or if it is provided independently.
Free Rail Neer water bottle is provided to all passengers, irrespective of whether they opt for meals. “The complimentary water bottle is available to everyone once onboard, regardless of meal preference,” an IRCTC official told The Indian Express.
Last month, rumours spread suggesting that the Indian Railways had removed the ‘No Meals’ option on premium trains, after some passengers noticed the IRCTC app and website prompting mandatory meal selection during ticket booking.
However, the railways clarified that the ‘No Food’ option has not been removed. It remains available during booking, though the placement on the page has been slightly adjusted. Passengers can still opt out of meals.
Skipping meals no longer affects access to the complimentary water bottle, and flexibility to order food later ensures passengers can tailor their journey according to personal preference.
Why Did Stock Market Fall Today? Key Factors Behind Sensex, Nifty Decline On November 21
Dutch consumer confidence improves further in November: CBS
Megan Thee Stallion feels ‘defeated’ amid defamation case
-
Tech6 days agoNew carbon capture method uses water and pressure to remove CO₂ from emissions at half current costs
-
Politics1 week agoBritish-Pakistani honoured for transforming UK halal meat industry
-
Business6 days agoThese 9 Common Money Mistakes Are Eating Your Income
-
Sports6 days agoTexas A&M officer scolds South Carolina wide receiver after touchdown; department speaks out
-
Business7 days agoWhat’s behind Rachel Reeves’s hokey cokey on income tax rises?
-
Sports7 days agoApple scrapping MLS Season Pass service in ’26
-
Fashion7 days agoAfter London, Leeds and Newcastle, next stop Glasgow for busy Omnes
-
Tech1 week ago$25 Off Exclusive Blue Apron Coupon for November 2025