Pakistan | News

Ratings agency S&P Global raised Pakistan’s sovereign credit rating to ‘B-’ from ‘CCC+’ and placed it on a ‘stable’ outlook on Thursday, saying the country’s finances and reserves had been stabilised by International Monetary Fund (IMF) support. “The stable outlook reflects our expectations that continued economic recovery and government efforts to enhance revenue will stabilise fiscal and debt metrics,” S&P said in a statement on the move. “We also expect that sustained official financing will support Pakistan in meeting its external obligations, and that the country will continue to roll over its commercial credit lines over the next 12 months.” Pakistan’s longer-dated international bonds rallied after the upgrade, with the 2051 maturity gaining 1.6 cents to be bid at 84.85 cents on the dollar, according to Tradeweb data. The 2031 and 2036 maturities also gained around 1 cent, while shorter-dated maturities posted smaller gains. Last week, Finance Minister Muhammad Aurangzeb urged the leading US rating agen...

The Pakistan National Shipping Corporation (PNSC) signed a memorandum of understanding (MoU) with Chinese shipping giant, Shandong Xinxu Group, on Thursday in a move that is set to bring about a “major transformation” in the shipping sector. PNSC, headquartered in Karachi, is Pakistan’s premier national flag carrier, operating under the Ministry of Maritime Affairs. The Shandong Xinxu Group Corporation, based in Zibo City, Shandong Province, is a leading Chinese enterprise engaged in international trade and shipping. A statement from the Press Information Department said the MoU signing ceremony took place between the PNSC CEO and the chairman of Shandong Xinxu Group Corporation in Islamabad with Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry present. “The Pakistani shipping sector is set for a major transformation following the signing of a MoU,” he was quoted as saying by the statement. Addressing the signing ceremony, he said the development symbolised a “growing partnership” between Pakistan and...

Pakistan is ready to engage in dialogue with India on all outstanding issues, but the next move depends on New Delhi, said Foreign Office Spokesperson Shafqat Ali Khan during a weekly press briefing on Thursday.

ISLAMABAD: Pakistan and Afghanistan on Wednesday signed an Early Harvest Programme (EHP) to reduce tariffs on eight agricultural items for one year, laying the foundation for a broader preferential trade agreement (PTA) between the two countries. The EHP, which takes effect on Aug 1, will remain in force for one year and is renewable. It also allows for the future inclusion of additional items, making it the first tangible step towards launching negotiations on a comprehensive PTA. The agreement was signed by Pakistan’s Commerce Secretary, Jawad Paul, and Afghanistan’s Deputy Minister of Industry and Commerce, Mullah Ahmadullah Zahid, who was accompanied by a delegation of senior technical officials. The Afghan delegation arrived in Islamabad on Monday night to hold detailed negotiations with Pakistan’s Ministry of Commerce. Under the agreement, tariffs on four Afghan agricultural exports to Pakistan — grapes, pomegranates, apples, and tomatoes — and four Pakistani exports to Afghanistan — mangoes, kinnows, b...

ISLAMABAD - Pakistan yesterday reaffirmed commitment to multilateralism and peaceful dispute resolution during UN Security Council presidency.

ISLAMABAD - Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar Wednesday encouraged businessmen and investors to explore diverse investment opportunities in Pakistan with a view to leveraging the large consumer base, young population, growing digital economy, and advantageous geographic positioning towards mutually.

ISLAMABAD - Pakistan and Saudi Arabia yesterday agreed to advance investments and technical collaboration for mutual benefit of the two nations.

ISLAMABAD - The World Health Organization (WHO), with support from Gavi, the Vaccine Alliance, has distributed over 800 motorbikes to the country’s Expanded Programme on Immunization (EPI) to improve healthcare access in remote regions of Pakistan.

Prime Minister Shehbaz Sharif on Wednesday reiterated Pakistan’s willingness for a “meaningful dialogue” with India on all outstanding issues, state media Radio Pakistan reported. The April 22 attack in occupied Kashmir’s Pahalgam killed 26 people, sparking a military confrontation between nuclear-armed India and Pakistan as New Delhi blamed it on Islamabad, which strongly denied the allegations while calling for a neutral investigation. A US-brokered ceasefire ended the war. Pakistan previously invited India to a comprehensive dialogue to address all contentious issues, including the Kashmir dispute and the water distribution. During a meeting with British High Commissioner Jane Marriott today, PM Shehbaz appreciated the UK’s role in de-escalating tensions during the Pakistan-India standoff and reiterated that Pakistan was ready for a meaningful dialogue with India on all outstanding issues. He welcomed the British government’s decision to resume PIA flights to the UK. He said, “This [decision] would go a lo...

General Sahir Shamshad Mirza, NI (M), Chairman Joint Chiefs of Staff Committee (CJCSC), represented Pakistan at the 17th International Defence Industry Fair (IDEF-2025) held in Istanbul, Türkiye.

Pakistan and Bangladesh on Wednesday agreed in principle to grant visa-free entry to holders of diplomatic and official passports, along with a pledge to stronger security cooperation. The two countries were once one nation but split following a bloody civil war, which saw the territory previously referred to as ‘East Pakistan’ seceding to form the independent nation of Bangladesh. In the years since the split between Pakistan and Bangladesh, Dhaka’s leaders — especially the ousted regime of Sheikh Hasina — stayed firmly in the Indian camp, preferring to maintain close ties with New Delhi and keeping Islamabad at arm’s length. However, ever since a popular uprising that saw Hasina’s government toppled in August of last year, with the deposed premier fleeing to her old ally India, there has been a thaw in ties between the two capitals, with trade and bilateral relations seeing a marked improvement. In May, Bangladesh High Commissioner to Pakistan Iqbal Hussain Khan said that the visa regime between Pakistan an...

Chairperson of Senate Standing Committee on Climate Change, Senator Sherry Rehman, convened the committee meeting on Wednesday to address the alarming scale of climate-induced disasters and Pakistan’s growing vulnerability to extreme weather events.

Rejecting Indian allegations of cross-border terrorism, Pakistan has asked India to change its behaviour, instead of resorting to its “tired narrative of victimhood and blame-shifting” during a UN Security Council debate on ‘Promoting International Peace and Security through Multilateralism and Peaceful Settlement of.

Pakistan and Bangladesh have reached a mutual agreement to allow visa-free entry for holders of diplomatic and official passports, marking a step forward in strengthening bilateral relations.

ISLAMABAD - Pakistan yesterday signed the landmark United Nations treaty on the conservation and sustainable use of marine biodiversity in areas beyond national jurisdiction (BBNJ), underscoring its steadfast commitment to multilateralism and equitable ocean governance.

LAHORE: An important meeting of the Asian Cricket Council (ACC) is being held on Thursday in Dhaka where Pakistan’s participation in this year’s Asia Cup in India will come under discussion. Pakistan Cricket Board (PCB) chairman Mohsin Naqvi as the head of the ACC was expected to leave for Dhaka on Tuesday night to head the said meeting. The ACC meeting is considered important, particularly in the backdrop of the the Asia Cup, scheduled to be held in India in the month of September. According to reports, no official of the BCCI will visit Bangladesh to attend the ACC meeting. There are also media reports that Sri Lanka, Oman and Afghanistan may also not attend. Though the Asia Cup is an impo­rtant continental event, due to strained political relations between India and Pakis­tan, particularly after the military encounter between the nuclear-armed neighbours in May this year, the fate of the said competition is hanging in the balance. On its part, the BCCI has said that the political relations between India an...

ISLAMABAD: The National Emergency Operations Center (NEOC) of the National Disaster Management Authority (NDMA) on Wednesday issued multiple impact-based weather alerts in response to intensifying monsoon conditions and the arrival of a fresh westerly wave across the country. Moist monsoon currents from the Arabian Sea are currently penetrating Sindh and the upper regions of Pakistan, […]

Bangladesh survived a late onslaught by Faheem Ashraf and Ahmed Daniyal to pull off a narrow eight-run victory in the second T20I match on Tuesday, winning a first-ever series in the format against Pakistan. Ashraf hit an aggressive 32-ball 51 while debutant Daniyal smashed an 11-ball 17 but holed out off the second ball of the final over as Pakistan were all out for 125 in their chase of 134 to win in Dhaka. Earlier, Jaker Ali struck a 48-ball 55 as Bangladesh — sent in to bat — were bowled out for 133 in 20 overs, with Salman Mirza taking 2-17 and Daniyal close behind on 2-23. Left-arm Bangladesh pacer Shoriful Islam picked up his best T20I figures of 3-17 on a slow-paced Mirpur pitch as Pakistan lost their first five wickets for just 15 runs by the fifth over. Ashraf cracked four sixes and as many boundaries to raise hopes of a comeback win, but spinner Rishad Hossain bowled him in the penultimate over. Ashraf and Abbas Afridi, who scored a 13-ball 19, had revived the innings from 47-7 with a 41-run stand,...

Pakistan on Tuesday signed an agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction (BBNJ Agreement) that establishes a legal framework for all marine and maritime activities.

Chief of the Naval Staff of Pakistan, Admiral Naveed Ashraf, held a meeting with Vice Admiral Mohammad Bin Abdul Rehman Al-Ghoraibi, Commander of the Royal Saudi Naval Forces, to discuss matters of mutual interest, regional maritime security, and enhanced bilateral collaboration.