Business
Punjab eyes hefty investment | The Express Tribune
LAHORE:
Punjab is consolidating its position as Pakistan’s leading investment destination as the provincial government moves ahead with several new industrial initiatives, including a state-of-the-art complex for Chinese executives and investors near the Faisalabad Industrial Estate Development and Management Company (FIEDMC).
In an interview with The Express Tribune, Provincial Minister for Industries, Commerce and Investment Chaudhry Shafay Hussain said the facility is designed to provide a secure and comfortable environment for Chinese professionals, who face travel restrictions in Pakistan due to security concerns.
“The complex will have all the necessary facilities,” he said, adding “it reflects our commitment to ensuring that foreign investors operating in Punjab have a safe and supportive environment.”
Punjab, which contributes nearly 54% to Pakistan’s GDP, continues to attract most of the country’s industrial and foreign investment. According to Shafay, improved infrastructure, skilled manpower and investor-friendly policies have made the province a preferred destination for both local and international investors. Foreign direct investment is increasing, led by Chinese, Turkish and Middle Eastern investors.
Shafay said the government’s focus is on promoting value-added industries to maximise export potential and boost provincial revenues. “It is now a strict policy; every investor must add value to the product. Whether it is pink salt or minerals, only value-added exports will be encouraged,” he said. “This approach will help provinces generate more funds and support sustainable economic growth.”
As part of efforts to diversify its industrial portfolio, Punjab is also engaging with Turkey to strengthen its gems and jewellery sector. “Turkey has great expertise in gemstone processing and jewellery design, and we want to collaborate to bring similar capabilities here,” Shafay said.
Turkey is among the world’s top 10 jewellery exporters, with Istanbul serving as a regional hub for gemstone polishing and gold craftsmanship, a model Punjab aims to learn from.
The minister revealed that new gold placer deposits have been identified in Attock and Jhelum districts. “We are formulating a policy that will go to the cabinet for approval. Once cleared, leases will be offered to regulated investors for exploration and development,” he said, adding that responsible extraction could open a new frontier for Punjab’s mineral sector.
Industrial activity across Punjab is already gaining momentum. “Eight cement companies are currently in the process of obtaining expansion approvals,” Shafay said. “A couple of them are looking to establish new plants of up to 10,000 tons per day, mainly for export purposes.”
He added that similar growth is being seen in emerging sectors such as synthetic leather, electric vehicles (EVs) and EV charging stations, which he believes will lead Punjab’s industrial future.
To further expand industrial capacity, the government has secured 1,400 acres of non-agricultural land in Sialkot for a new industrial estate.
“Sialkot already has an export processing zone, but we are developing another state-of-the-art industrial area that includes a 240-acre dedicated Surgical City,” he said. “It will further enhance Punjab’s exports of medical and surgical instruments, which are already globally recognised.”
Parallel efforts are underway to upgrade industrial estates in southern Punjab. “We are improving facilities in Multan and Bahawalpur and have reduced commercial plot prices to encourage genuine industrialists,” Shafay said, adding “plots will only be allotted to those who plan to build industries, not to those using them for real estate trading.”
Foreign investors continue to show strong confidence in Punjab’s industrial landscape. “Vivo Mobile is setting up a manufacturing unit here and several Chinese firms are investing in EV plants and textile projects,” Shafay said. “Their trust in Punjab’s resources, manpower and infrastructure is growing every year.”
Reflecting on his tenure, the minister admitted that delivering results in a complex administrative setup requires persistence. “The job is not easy if you really want to deliver. Each day brings new challenges and follow-ups consume most of my time. But that’s what is needed to make the system work,” he said.
The minister hoped that the province will continue to lead Pakistan’s industrial transformation as consistent policies, improved infrastructure and renewed investor confidence are steadily positioning Punjab as the country’s most reliable destination for foreign investment and sustainable economic growth for the years to come.
“We have already set the stage for take-off and we hope that the province will establish itself as a growth engine of this region in coming years,” Shafay added.
New Delhi: Good news for investors and market watchers! Even though February 1 falls on a Sunday this year, the Indian stock markets will remain open for trading on Budget Day. Both the BSE and NSE announced on January 16 that trading will take place as per normal market hours on February 1 for Budget 2026. This special arrangement ensures that investors can react to Budget announcements in real time, without waiting for the next trading session.
The NSE clarified the special trading arrangement in a circular, stating, “On account of the presentation of the Union Budget, members are requested to note that Exchange shall be conducting live trading session on February 01, 2026, as per the standard market timings (9:15 am-3:30 pm),” said NSE in a circular.
Union Budget 2026 to be presented on February 1 at 11 am
The Union Budget for 2026 will be presented at 11 am on Sunday, February 1, the Lok Sabha Speaker confirmed on January 12. In recent years, February 1 has become the fixed date for the annual Budget presentation, a trend that continued with the 2025 Budget as well. The upcoming Budget will also be a significant milestone for Finance Minister Nirmala Sitharaman, as it will be her ninth consecutive Union Budget, placing her among finance ministers with the longest uninterrupted Budget tenures.
Trading details for Budget Day explained
While most core market segments will remain open during regular trading hours on Budget Day, some services will stay shut. The BSE has clarified that the T+0 settlement session and the auction session meant for settlement defaults will not be operational. At the same time, the NSE confirmed that trading in capital markets and derivatives will continue as usual.
Stock market holiday list remains the same
The stock market holiday calendar for 2026 remains unchanged, with Indian exchanges observing 16 public holidays apart from weekends. The next scheduled market closure this month will be on January 26. In the first half of the year, markets will remain shut on key occasions such as Holi (March 3), Ram Navami (March 26), Mahavir Jayanti (March 31) and Good Friday (April 3). Trading will also be suspended on Ambedkar Jayanti (April 14), Maharashtra Day (May 1) and Bakri Id (May 28).
In the second half of the year, markets will close on Muharram (June 26), Ganesh Chaturthi (September 14), Gandhi Jayanti (October 2), Dussehra (October 20), Diwali Balipratipada (November 10) and Guru Nanak Jayanti (November 24). Christmas, on December 25, will be the final market holiday of 2026.
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Reliance Industries Q3 FY26 Financial Results | Earnings remained resilient during the December quarter despite pressure in upstream oil & gas exploration and production business.
Reliance Industries Q3 Results.
Reliance Industries Ltd reported a resilient performance in the fiscal third quarter, with consolidated revenue rising 10 percent from a year earlier to Rs 2.94 lakh crore, led by growth in its digital services, oil-to-chemicals (O2C) and retail businesses.
Net profit (pre minority) for the fiscal third quarter rose 1.6 percent from a year earlier to Rs 22,290 crore, while profit before tax increased 3.7 percent to Rs 29,697 crore.
Consolidated EBITDA rose 6.1 percent to Rs 50,932 crore, supported by earnings growth in the digital services and O2C segments, helping offset weakness in the upstream oil and gas business.
“Reliance’s consolidated performance in 3Q FY26 reflects consistent financial delivery and operational resilience across businesses,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, in a statement on Friday.
The O2C business benefited from a sharp increase in transportation fuel cracks, which rose 62-106 percent from a year earlier during the third quarter. This improvement was partly offset by lower downstream chemical margins and higher feedstock freight rates. Overall, O2C EBITDA rose 15 percent from a year earlier to Rs 16,507 crore, helped by higher volumes and a continued ramp-up in fuel retail operations.
The Jio-bp fuel retailing business maintained its growth momentum, with fuel volumes rising 24 percent, supported by strong growth in gasoline and high-speed diesel sales. The retail network expanded further, with Jio-bp operating 2,125 outlets at the end of December, a 14 percent increase from a year earlier.
“Robust growth in O2C business was led by significantly higher fuel margins with favorable demand-supply dynamics, along with operational flexibility. I am happy to highlight the strong growth in our fuel retailing business, with continuing expansion of the Jio-bp network,” Ambani added.
The digital services business delivered strong growth, with revenue rising 12.7 percent to Rs 43,683 crore. EBITDA from the segment grew 16.4 percent YoY to Rs 19,303 crore, aided by accelerated subscriber additions and a 170-basis-point expansion in margins.
Reliance Jio’s subscriber base increased to 515.3 million, with its 5G user base crossing 250 million during the quarter. Total home connects crossed 25 million, while JioAirFiber became the first fixed wireless access service globally to surpass 10 million subscribers, ending the quarter with 11.5 million users. Average revenue per user (ARPU) rose 5.1 percent from a year earlier to Rs 213.7.
“This quarter, Jio expanded its subscriber base further, through attractive propositions enabled by its comprehensive, indigenous technology stack tailored for Indian markets. The business delivered a robust financial performance with 16.4% growth in EBITDA,” said Ambani.
JioStar continued to report strong operational performance, maintaining leadership across key platforms and genres.
In contrast, the oil and gas business weighed on overall performance, affected by lower production from the KGD6 block due to natural decline in the reservoir and weaker price realisations, along with higher operating costs related to periodic maintenance activity. EBITDA declined 13 percent from a year earlier to Rs 4,857 crore. Revenue from the segment fell 8.4 percent to Rs 5,833 crore.
The retail business posted revenue of Rs 97,605 crore, an increase of 8.1 percent from a year earlier. Growth, however, was impacted by the distribution of festive demand between the September and December quarters, the demerger of Reliance Consumer Products Ltd, and GST rate rationalisation. Despite these, retail EBITDA rose to Rs 6,915 crore. During the quarter, Reliance Retail operated 19,979 stores, with a total operational area of 78.1 million sq ft, while hyper-local delivery operations saw a near fivefold jump in average daily orders.
“Our Retail business also had an eventful quarter, strengthening its portfolio with the onboarding of fresh new brands and product ranges. The demerger of consumer products business came into effect this quarter. With a broad and diverse product basket ranging from classic Indian brands to new age labels, the consumer products vertical is progressing on its accelerated growth trajectory with a focused organizational structure,” said Ambani.
During the quarter, capital expenditure stood at Rs 33,826 crore, which was fully covered by cash profits of Rs 41,303 crore. Net debt declined sequentially to Rs 1.17 lakh crore as of December 31, reflecting balance sheet stability.
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January 16, 2026, 19:28 IST
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New Delhi: Every year, the Union Budget draws nationwide attention as it outlines the government’s plans for the economy and public spending. Traditionally presented on February 1, the Budget will be tabled by Finance Minister Nirmala Sitharaman on February 1, 2026, at 11 am, as confirmed by Lok Sabha Speaker Om Birla.
A Record-Breaking Budget Speech
Nirmala Sitharaman created history by delivering the longest Budget speech in India in 2020, which lasted 2 hours and 42 minutes. The marathon address introduced several major announcements, including a new income tax regime and the much-awaited initial public offering (IPO) of Life Insurance Corporation (LIC).
However, during the course of the speech, Sitharaman felt unwell, following which Lok Sabha Speaker Om Birla read out the remaining two pages on her behalf. Notably, the 2020 speech had already surpassed her own 2019 record, when she spoke for 2 hours and 17 minutes. In contrast, her 2024 Interim Budget speech was much shorter, lasting just 56 minutes, her briefest Budget address since taking charge as Finance Minister.
Understanding the Union Budget: What It Means for India
The Union Budget is a yearly financial statement presented by the Finance Minister in Parliament under Article 112 of the Constitution of India. It outlines the government’s estimated income and spending for the upcoming financial year, giving a clear picture of how public funds will be raised and used.
Along with revenue and expenditure details, the Union Budget also announces proposed changes in taxes, key focus areas for development, policy initiatives, and major economic reforms. It serves as a roadmap for the country’s economic direction in the year ahead.
Over the years, Budget speeches have evolved to reflect India’s changing economic needs and challenges. All eyes are now on Finance Minister Nirmala Sitharaman, who has been leading the Finance Ministry since 2019 and is set to present her eighth Union Budget on February 1.
UK GDP expected to grow 1.4% in 2026: Goldman Sachs Research
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