Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed the authorities concerned to prepare a business plan for Pakistan National Shipping Corporation (PNSC) to save $4 billion through maritime trade. “Present a business plan for PNSC within two weeks, which should include a strategy to save the annual $4 billion burden on the national exchequer,” PM Shehbaz directed the authorities while presiding over a high-level meeting regarding matters related to the corporation. The prime minister also directed the authorities to acquire ships on lease to expand the PNSC fleet. “Due to a reduced number of ships in the PNSC fleet, the country has to spend approximately $4bn annually from the national exchequer on maritime trade.” The prime minister was informed that PNSC currently possessed 10 ships of various types, with a combined cargo-carrying capacity of 724,643 tonnes. The meeting was attended by Minister for Economic Affairs Ahad Khan Cheema, Minister for Maritime Affairs Junaid Anwar Chaudhry and senior PNS...

• Surpasses target for FY25 in first eleven months • Includes $6.89bn in fresh inflows; rest are rollovers from China, Saudi Arabia and UAE ISLAMABAD: Pakistan secured nearly $20bn in foreign loans and grants during the first 11 months (July-May) of 2024-25, surpassing the annual target of $19.2bn set for the fiscal year ending June 30. Almost half of this amount comprised legacy rollovers from China, Saudi Arabia, and the United Arab Emirates, while fresh loans and grant inflows totalled $6.89bn — about 9pc lower than the same period last fiscal year. According to the Economic Affairs Division’s (EAD) monthly report on Foreign Economic Assistance (FEA) released on Friday, the total FEA during July-May stood at $6.89bn, compared to $7.55bn in the corresponding period of last year, against a target of $19.4bn for 2024-25 and $17.6bn last year. This figure does not include approximately $2bn received from the International Monetary Fund (IMF) in two tranches under the ongoing $7bn Extended Fund Facility (EFF), ...

ISLAMABAD: Pakistan, China and Bangladesh have launched a trilateral cooperation mechanism, pledging to pursue “win-win cooperation” in what could mark a subtle yet significant shift in South Asia’s strategic landscape. The announcement came after the inaugural meeting of the Bangladesh-China-Pakistan Vice Foreign Minister/Foreign Secretary mechanism on Friday. A statement issued by the Foreign Office said the meeting was attended by Chinese Vice Foreign Minister Sun Weidong, Bangladesh’s acting Foreign Secretary Ruhul Alam Siddique and Pakistan’s Additional Foreign Secretary Imran Ahmed Siddiqui. Foreign Secretary Amna Baloch joined the initial session via video link. New trilateral forum looks to enhance engagement, work for more trade, investment In her remarks, Ms Baloch expressed Pakistan’s desire for a deeper engagement between China and South Asian countries. She highlighted the “upward trajectory of bilateral ties” with both China and Bangladesh and “conveyed Pakistan’s readiness to work with the two ...

• PML-N minister strongly advocates for Hazara province • PPP lawmaker calls for creation of South Punjab province ISLAMABAD: Like every year, the National Assembly on Friday once again echoed with the familiar demand for creating new provinces in the country during the general debate on the federal budget. Taking part in the debate on the budget for the next fiscal year, Federal Minister for Religious Affairs Sardar Muhammad Yousuf forcefully demanded carving out Hazara province in Khyber Pakhtunkhwa whereas PPP’s Syed Murtaza Mahmud called for bifurcating Punjab to create South Punjab province. “I demand that wherever it is administratively viable, new provinces should be created in the country. Hazara province as well as other provinces should be made to resolve the public issues and to meet people’s needs,” declared the minister who belongs to the ruling PML-N. He accused the provincial PTI government of neglecting Hazara region in general and Mansehra in particular, alleging that the people of the area w...

The Pakistani government has decided to formally recommend US President Donald Trump for the 2026 Nobel Peace Prize in recognition of his “decisive diplomatic intervention and pivotal leadership” during the recent India-Pakistan crisis. In a post shared on X, the government said the international community had “bore witness to unprovoked and unlawful Indian aggression, which constituted a grave violation of Pakistan’s sovereignty and territorial integrity, resulting in the tragic loss of innocent lives, including women, children, and the elderly”. Following the Indian aggression, Pakistan “launched Operation Bunyanum Marsoos — a measured, resolute, and precise military response”, the post read. It noted that the response was executed to exercise the country’s “fundamental right to self-defence” and “carefully to re-establish deterrence”, defending its “territorial integrity while consciously avoiding civilian harm”. The post further read that “at a moment of heightened regional turbulence”, President Trump “d...

President Donald Trump said Friday that Iran had a “maximum” of two weeks to avoid possible US air strikes, day after saying that he would make a decision within a fortnight on whether to take military action. “I’m giving them a period of time, and I would say two weeks would be the maximum,” Trump […]

Iran won’t hold negotiations until Israeli aggression stops China proposes 4-point plan to resolve Iran-Israel conflict Trump approves plan to attack Iran: Report Iran fires new salvo of missiles, explosions at Tel Aviv, Jerusalem Field Marshal Asim Munir discusses Iran with President Trump Khamenei warns US against strikes on Iran Qatar receives letter from Iran’s […]

ISLAMABAD: On the completion of the second year of the Special Investment Facilitation Council (SIFC), significant milestones have been achieved to boost the digital economy of Pakistan, enabling PayPal for Pakistani freelancers as a key achievement. SIFC, by this initiative, has simplified international payments and boosted the country’s freelance ecosystem. The trial project, launched earlier […]

Hollywood actor Owen Wilson has rejoined fellow actors Ben Stiller and Robert DeNiro in ‘Meet the Parents 4.’ To Read Lifestyle Stories in Urdu- Click Here Directed by John Hamburg, who co-wrote all three prior films, the film will introduce singer Ariana Grande to the comedy film series. Reports said that Ariana Grande will play […]

Fears becoming first casualty of $1b import surge, 2 million job losses

Indirect fiscal financing via OMO amid IMF borrowing limits; rupee down 6 paisas to 283.70/$

PM aide says policy can reduce 4.5m tonnes of CO2 emissions, save $1b in oil imports

Short-term inflation extends upward trend but annual reading eases 2.06%

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Experts say FY26 plan ignores public welfare, pushes for more loans

Envoy highlights prospects of collaboration, driven by Pakistan's talented youth

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Directs FBR to fix Point-of-Sale system glitches, train field officers

Profit-taking erases early advances; index holds 120,000 level

Warns that visa issuance delays in UAE, Dubai, Saudi Arabia are harming trade