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Found 10732 news

  • Current account posts surplus of $479m in Feb
    Dawn - 16:28 Mar 16, 2026
    KARACHI: The country’s current account has recorded a surplus of $479 million in February, leading to a substantial decrease in the current account deficit for the ongoing fiscal year. According to details shared by the State Bank of Pakistan (SBP) on Monday, the country’s current account has posted a surplus in the first two months of the calendar year 2026, after recording a deficit of $244m in December 2025. In the first two quarters of FY26, the current account was in deficit against a $1.9 billion surplus recorded in FY25. The current account deficit — which has been a long-standing issue facing Pakistan’s economy — has been addressed by a significant reduction in imports, which has resulted in a surplus. But, low imports have affected the gross domestic product (GDP) growth as it hardly reached 3 per cent in FY25. In the first quarter of FY26, from July to Sept 2025, the current account deficit was $737m, while in the second quarter, from October to December 2025, the deficit was recorded at $458m. But,...
  • March fuel requirements ‘fully secured’, coverage available up to mid-April, committee told
    Dawn - 15:43 Mar 16, 2026
    ISLAMABAD: A committee tasked with monitoring petrol prices was informed on Monday that Pakistan was “adequately positioned in terms of fuel availability”, with March requirements fully secured and, based on current cargo planning and supply arrangements, coverage was available up to mid-April. The development comes after the government announced a Rs55 per litre hike in the prices of both petrol and high-speed diesel to deal with the fuel crunch resulting from the ongoing Middle East conflict. According to a finance ministry statement, the committee was briefed today on the national inventory of crude oil and refined petroleum products, ongoing import arrangements, and supply chain logistics. The committee was informed that the country “remains adequately positioned in terms of fuel availability, with March requirements fully secured”. It was further briefed that, “based on current cargo planning and supply arrangements, coverage is available up to mid-April” and efforts were being taken to extend coverage t...
    Tags: March April
  • Lahore court approves closure of NAB investigation against Maryam, Nawaz in Chaudhry Sugar Mills case
    Dawn - 15:24 Mar 16, 2026
    LAHORE: An accountability court on Monday approved the closure of the investigation by the National Accountability Bureau (NAB) in the Chaudhry Sugar Mills case against Punjab Chief Minister Maryam Nawaz and her father, former prime minister Nawaz Sharif. The case pertains to alleged money laundering and income beyond means via “dubious” business transactions of the Chaudhry Sugar Mills, of which Maryam was a major shareholder. Judge Rana Arif announced the decision to close the investigation on a plea filed by NAB-Lahore. Last week, the court sought arguments from the counsel for Maryam and Nawaz on an application submitted by the anti-graft body for the closure of the investigation in the case. Judge Arif observed that the NAB’s move to close the Chaudhry Sugar Mills investigation was in accordance with the law. He further noted that Maryam could also withdraw her surety bond of Rs70 million furnished against post-arrest bail granted to her in the case. Earlier, NAB and the Punjab CM’s lawyers concluded the...
    Tags: Chaudhry Sugar Mills Nawaz Maryam
  • As India seeks Hormuz safe passage, Tehran asks for return of seized tankers, sources say
    Dawn - 15:05 Mar 16, 2026
    Iran has asked India to release three tankers seized in February as part of talks ​seeking the safe passage of Indian‑flagged or India‑bound vessels out of the Gulf via the Strait of Hormuz, three sources ‌with knowledge of the matter told Reuters. Indian authorities seized the three Iran‑linked tankers near Indian waters, alleging they had concealed or altered their identities and were involved in illegal ship‑to‑ship transfers at sea. Tehran has also sought supplies of certain medicines and medical equipment, according to one of the sources, an Iranian official. Iran’s ambassador to ​New Delhi met Indian foreign ministry officials on Monday to discuss the issue, the source said. The sources declined to be named ​due to the sensitivity of the matter. India’s foreign ministry, the Iranian embassy in New Delhi, and Iran’s ⁠foreign ministry did not immediately respond to Reuters’ requests for comment. Iran recently allowed two Indian liquefied petroleum gas (LPG) tankers to pass through the ​strait, according t...
    Tags: Hormuz India Tehran
  • Rain, thunderstorm expected in Karachi, other parts of Sindh from March 18-19: Met Office
    Dawn - 14:32 Mar 16, 2026
    KARACHI: The Pakistan Meteorological Department (PMD) on Monday forecast rain and thunderstorms in Karachi and other parts of Sindh from March 18 to 19. In an advisory issued today, PMD said “a westerly wave” was likely to enter the western parts of the country from tomorrow (Tuesday). It said that under its influence, the metropolis will have “partly cloudy weather” with the chance of “thunderstorm/rain” on March 18 and 19. PMD, in its advisory, said that rain and thunderstorms with strong winds and isolated hailstorms are likely in Jamshoro, Hyderabad, Thatta, Sujawal, Badin, Matiari. Tando Muhammad Khan, Tando Allah Yar, Umerkot, Tharparker, Sanghar, Mirpurkhas, Nosheroferoz, Shaheed Benazirabad, and Dadu on Wednesday and Thursday. While Larkana, Qamber Shahdad Kot, Shikarpur, Jacobabad, Kashmore, Ghotki and Sukkur districts are set to receive heavy rainfall on March 18 and 19 with “occasional gaps”. PMD said that lightning strikes may occur at “isolated places” during the period and advised farmers to “ma...
    Tags: Karachi March Sindh
  • Middle East oil benchmarks hit record highs as war cuts supply
    Dawn - 14:04 Mar 16, 2026
    Spot premiums for Middle East crude grades Oman and Dubai have soared to ​all-time highs even as trade slumps due to the US and Israeli war on Iran, with some ‌traders arguing that the benchmarks have lost relevance due to supply disruption. The surge in the benchmarks, used to price millions of barrels of Middle Eastern crude bound for Asia, is pushing up costs for Asian refiners, forcing them to seek alternatives or reduce output further in coming months. Cash Dubai’s premium to swaps jumped ​to $56 a barrel on Monday, compared with an average of 90 cents in February, data from S&P Global Platts and Reuters showed. ​The premium accounts for about a third of the grade’s value, assessed at $153 a barrel by Platts ⁠for May-loading cargoes, versus $111.76 for Murban futures. Dubai prices are distorted, given its wide price gap with Murban, three trade sources said. Similarly, ​the premium for Oman crude futures to Dubai swaps hit a record near $51 a barrel on Friday, far above February’s 75 cents average. Middl...
    Tags: Middle East
  • Hamas holds talks with Trump-led board as Iran war strains Gaza plan: sources
    Dawn - 13:35 Mar 16, 2026
    The envoys from US President Donald Trump’s “Board of Peace” have met representatives of Hamas in Cairo in an effort to safeguard the Gaza ceasefire, under serious strain since the United States and Israel began bombing Iran, three sources told Reuters. The weekend meeting is the first publicly reported since the start of the Iran war between Hamas and the board, a new international body personally headed by Trump, which has been tasked with overseeing post-war Gaza. Following the meeting, Israel announced on Sunday that it would soon reopen the sole crossing for pedestrians between Gaza and Egypt, shut since the Iran bombing campaign began. One of the sources said he believed the Israeli announcement was a direct result of the meeting between Hamas and the board. Prior to the war in Iran, Trump’s plan for Gaza was his flagship initiative for the Middle East. The sources said the Hamas representatives warned the board that they could back away from its previous promises under the Gaza ceasefire if Israel main...
    Tags: Gaza Hamas Iran
  • War Diary Day 17: Middle East conflict hits decisive inflection point
    Dawn - 12:45 Mar 16, 2026
    The US-Israel war against Iran entered a decisive inflection point on Monday, the 17th day of fighting, as persistent restricted movement through the Strait of Hormuz and Israel’s large ground assault in southern Lebanon erased any remaining notion that the conflict would be a short one. What was initially framed in Washington and Tel Aviv as a rapid coercive campaign to force regime change in Tehran is increasingly showing the contours of what some strategists are already describing as a potential strategic defeat for the US in terms of its inability to restore the pre-war regional order despite its overwhelming military force. Trump’s diplomatic push yields little US President Donald Trump has since yesterday pressed allies and partners, including Nato members and Asian economies dependent on Gulf oil, to contribute warships, escorts or minesweepers for a multinational effort to reopen Hormuz. The argument from Washington is that the strait is a global economic lifeline and its closure cannot be tolerated. ...
  • In letter to CJP, jailed PTI leaders seek early hearing of appeals pending before LHC ‘for last 8 months’
    Dawn - 10:42 Mar 16, 2026
    LAHORE: Several jailed PTI leaders have written to Chief Justice of Pakistan Yahya Afridi, seeking the early hearing of appeals against their convictions in a May 9 riots case, it emerged on Monday. On July 22, 2025, a Lahore Anti-Terrorism Court (ATC) sentenced Yasmin Rashid, Omar Sarfraz Cheema, Ejaz Chaudhry, Mian Mahmoodur Rasheed and others to 10 years in prison in a case related to violence on Sherpao Bridge. In the letter — a copy of which is available with Dawn — Rashid, Cheema, Rasheed and Chaudhry contended that despite being “law-abiding citizens of Pakistan”, their constitutional rights had been “trampled” upon as they continued to suffer “political victimisation”. “We have been languishing in jail for the last 34 months,” the letter stated. Recalling the July 2025 sentences, the leaders said they had submitted appeals against their convictions before the Lahore High Court (LHC) since their sentencing. “[However,] for the last eight months, our appeals and suspensions have not been heard.” The lea...
  • KSE-100 plunges over 4,000 points amid oil price surge
    Dawn - 10:25 Mar 16, 2026
    Pakistan’s benchmark KSE-100 index slipped 4,687.50 points to close in the red on Monday, marking a turbulent start to the week as selling pressure returned to the market. The index shed 3.05 per cent from its previous close of 153,866.16 points. During the session, the benchmark touched an intraday high of 153,943.69 points and fell to a low of 148,747.72 points, reflecting persistent downward pressure throughout the day. The sharp decline follows the index’s seventh consecutive week of losses, with geopolitical uncertainty and weak investor sentiment continuing to weigh on Pakistani equities. Analysts at Topline Securities noted that the market remained under pressure for most of the trading session, with the index largely trading in negative territory as investors adopted a cautious stance amid ongoing volatility in international oil prices. The recent surge in oil prices was triggered by US-Israel aggression against Iran, which led to the closure of the Strait of Hormuz, a critical global oil shipping rou...
    Tags: KSE-100
  • What the attack on Iran’s nuclear sites means for the non-proliferation regime
    Dawn - 09:52 Mar 16, 2026
    On March 2, just a few days into the ongoing war, the United States and Israel carried out attacks on Iran’s Natanz nuclear enrichment facility. After initially disputing the claims, the IAEA later confirmed damage to the entrance buildings of the underground fuel enrichment plant at Natanz, located on the outskirts of Qom. The attack came several months after the 12-day standoff between Iran and Israel, when a similar attack was carried out on the Natanz uranium enrichment site’s underground structures. These attacks have established a dangerous new precedent in global nuclear politics. The targeting of Iranian nuclear facilities — Natanz, Fordow and Isfahan — operating under the IAEA safeguards renders irrelevant the very system designed to ensure nuclear programmes remain peaceful. “Again, they attacked Iran’s peaceful safeguarded nuclear facilities yesterday. Their justification that Iran wants to develop nuclear weapons is simply a big lie,” said Reza Najafi, Iran’s envoy to the International Atomic Ener...
    Tags: Iran
  • Middle East war disrupts pharma air routes, risks cancer drugs supply
    Dawn - 09:00 Mar 16, 2026
    War in the Middle East is disrupting the flow of critical medicines to the Gulf, imperilling supply routes for cancer drugs and other treatments that require refrigeration and forcing companies to reroute flights and find overland access into the region, industry executives said. The conflict, sparked by US and Israeli attacks on Iran two weeks ago and broadened by Iranian strikes around the region, has knocked out key air transit hubs and closed shipping routes, snarling the movement of goods for many products from medicines to food and oil. While there are few signs yet of major shortages, that could change if the conflict drags on, some executives said. The Gulf relies heavily on imports and some medicines have short shelf lives and need strict cold-chain storage, making lengthy overland shipping less practical. Executives at Western drugmakers said they were seeking alternative routes into the Gulf and trucking some drugs overland from airports like Jeddah and Riyadh in Saudi Arabia. Other options were Is...
    Tags: Middle East
  • Man arrested for allegedly killing wife, 5 children for ‘honour’ in Punjab’s Sargodha
    Dawn - 08:18 Mar 16, 2026
    MANDI BAHAUDDIN: Sargodha police on Monday said they arrested two individuals, including a man who allegedly murdered his wife and five children for so-called ‘honour’ before attempting to take his own life. The tragic incident was reported from Chak 25 South area of Punjab’s Sargodha district. Sargodha District Police Officer (DPO) Muhammad Sohaib Ashraf confirmed to Dawn that the primary suspect, as well as another man nominated in the case, was in their custody. The DPO added that the primary suspect, who was the slain woman’s husband, was in a stable condition. A first information report (FIR) was registered at Bhagtanwala Police Station on the complaint of the woman’s brother in the early hours of Monday. It invoked sections 302 (Punishment of qatl-i-amd), 311 (Ta’zir after waiver or compounding of right of qisas in qatl-i-amd) and 322 (Punishment for qatl-bis-sabab) of the Pakistan Penal Code (PPC). The deceased were identified as the suspect’s wife, his daughter aged 15-16 years, three sons aged 5-6 ye...
    Tags: Sargodha Punjab
  • Trump says talks with Cuba ongoing, action possible after Iran
    Dawn - 07:02 Mar 16, 2026
    US President Donald Trump said on Sunday that the United States could soon reach a deal with Cuba or take other action, signaling that developments in the long-strained relationship may come quickly. “Cuba also wants to make a deal, and I think we will pretty soon either make a deal or do whatever we have to do,” Trump said to reporters on Air Force One. “We’re talking to Cuba, but we’re going to do Iran before Cuba.” The comments come as tensions between Washington and Havana remain elevated following years of sanctions, diplomatic friction and disputes over migration and security, with regional allies and investors watching closely for signs of a policy shift. Cuba’s President Miguel Daz-Canel said on Friday that the country opened talks with the United States as the island faces one of its most severe economic crises in decades. “These talks have been aimed at finding solutions through dialogue to the bilateral differences we have between the two nations,” Diaz-Canel said in a video aired on state televisi...
    Tags: Cuba Iran Trump
  • 10 dead in hospital fire in India’s Odisha
    Dawn - 06:51 Mar 16, 2026
    A fire at a government-run hospital in eastern India killed at least 10 critically ill patients who were admitted in the trauma care unit, officials said on Monday. Building fires are common in India due to a lack of firefighting equipment and a routine disregard for safety regulations. The fire broke out early on Monday on the first floor of the SCB Medical College and Hospital in Odisha state’s Cuttack city, Chief Minister Mohan Charan Majhi told reporters. “A short circuit caused the fire in the trauma ICU ward where patients were being treated,” he said, adding that 23 patients were present on the floor at the time of the incident. Ten people died following the blaze, while the remaining patients were moved to other wards, he added. At least 11 staff members suffered burn injuries as they tried to rescue the patients. Indian Prime Minister Narendra Modi called the incident “deeply painful” in a post on social media and offered his condolences to the families of the victims. He also announced compensation ...
    Tags: Odisha India
  • National Highway and Motorway Police initiates inquiry against officials for showing leniency to TV anchor
    Dawn - 05:34 Mar 16, 2026
    ISLAMABAD: The National Highway and Motorway Police (NHMP) has initiated a fact-finding inquiry against its officials for allegedly showing leniency to a well-known television anchorperson, Mansoor Ali Khan, after he was intercepted for over-speeding on the motorway. According to official sources, the incident occurred on February 28 when a motorway patrol team was conducting speed-checking near Chakri Interchange 310 at around 5:30pm. During the operation, officials detected a vehicle travelling at 166 kilometres per hour, well above the prescribed speed limit. The patrol team, comprising Inspector Police Waseem Murtaza and Sub-Inspector Saadat Hassan, signalled the vehicle to stop. However, the driver allegedly did not stop at that point and continued driving. Later, the vehicle was intercepted near Islamabad by Inspector Police Faraz Mehdi, who managed to stop the car and identify the driver. According to the preliminary account, the officer initially did not recognise the driver. Sources said Inspector Az...
    Tags: Motorway Police
  • SHC sets aside federal ombudsman’s order in woman’s harassment case against senior govt officer
    Dawn - 04:16 Mar 16, 2026
    HYDERABAD: A division bench of the Sindh High Court (SHC) Hyderabad circuit allowed a constitutional petition by setting aside the order of the Federal Ombudsman Secretariat for Protection Against Harassment of Women in a case of harassment against a regional level officer of the National Savings Pakistan. Comprising Justice Arbab Ali Hakro and Justice Riazat Ali Sahar, the bench passed the order on a petition filed by the incharge of the Regional Directorate of National Savings Hyderabad, Syed Farhan Ahmed Shah. He was represented by Jawad Qureshi advocate. The petitioner had challenged the Jan 18, 2024 order of the ombudsman secretariat that demoted him to a lower position and slapped a fine of Rs100,000 on him in the harassment case of a woman, Kiran Mehmood. The SHC had served a notice, which was also published in the print media, but no one appeared before the bench to represent her in the officer’s petition. She had initiated a series of complaints against the petitioner at various forums and finally fi...
  • Exporters up in arms as air cargo charges raised
    Dawn - 03:34 Mar 16, 2026
    KARACHI: After already struggling with higher war risk and freight charges due to deteriorating geopolitical conditions stemming from the Middle East war, exporters are now facing Rs25–50 per kg in “ad hoc charges” on export cargo shipments by air. Gerry’s dnata Pakistan has introduced ad hoc charges of Rs50 per kg — excluding all applicable taxes — due to rising costs. The charges will be collected from the party presenting the cargo before acceptance at the warehouse. Shippers or their authorised representatives are required to furnish NTN or CNIC details at the time of acceptance. Similarly, Menzies Ras Pakistan has introduced ad hoc operating charges of Rs25 per kg — excluding all applicable taxes — on export cargo, effective from March 17. The company said increasing fuel prices have triggered a significant rise in the cost of transportation, ground support services and overall supply chain operations. The charges have been introduced as temporary operational support to address the extraordinary rise in ...
  • ADB gives ‘final chance’ to $360m Central Asia Regional Economic Corridor project
    Dawn - 03:23 Mar 16, 2026
    ISLAMABAD: The Asian Develop­ment Bank (ADB) has granted a final one-month extension for the disbursement of a $360 million loan for the embattled Central Asia Regional Economic Corridor (Carec) Tran­che-III project, which has already been delayed by around a year due to issues with the National Highway Authority (NHA). “The ADB approves an extension of bid validity from March 6, 2026, to April 5, 2026 (for a period of 30 days). This shall be the last and final extension of bid validity. The NHA is requested to ensure that the contract award is completed within this extended period, as no further extension is envisaged by the ADB,” the bank said in a recent letter. “Within the same period, the NHA is also requested to provide any new and material information justifying the delay for ADB’s review. In the absence of such information, or if the contract is not awarded within the extended bid validity period, the matter may need to be assessed as a potential non-compliance case, which could affect the financing o...
    Tags: Central Asia Regional Economic Corridor
  • US, Chinese economic chiefs meet to pave way for Trump-Xi summit
    Dawn - 03:07 Mar 16, 2026
    PARIS: Top US and Chinese economic officials launched a new round of talks in Paris on Sunday to iron out kinks in their trade truce and clear a smooth path for US President Donald Trump’s trip to Beijing to meet with Chinese President Xi Jinping at the end of March. The discussions, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are expected to focus on shifting US tariffs, the flow of Chinese-produced rare earth minerals and magnets to US buyers, American high-tech export controls and Chinese purchases of US agricultural products. The two sides began talks on Sunday morning at the Paris headquarters of the Organisation for Economic Cooperation and Development (OECD), and were expected to continue on Monday, a Treasury official said. China is not a member of the club of 38 mostly wealthy democracies and considers itself a developing country. Before departing for Paris, US Trade Representative Jamieson Greer said that US officials want to ensure stability in the relationship. “...
    Tags: Chinese

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