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Here are key facts and figures about the blockage of the Strait of Hormuz, a crucial shipping route virtually paralysed by the Middle East war. Around a fifth of global crude oil and liquefied natural gas passes through the waterway in peacetime. The war erupted on February 28 when the US and Israel began bombing Iran, prompting it to retaliate with strikes across the region and restrict access to the strait. 21 security incidents Since March 1, 2026, 21 commercial vessels, including 10 tankers, have been attacked or reported incidents in the Gulf, the Strait of Hormuz or the Gulf of Oman, according to the British naval maritime security agency UKMTO. Across all types of vessels, an additional four attacks claimed by the Iranian Revolutionary Guards have not been confirmed by international authorities. 8 sea workers killed Since the conflict began, at least eight seafarers or dock workers have died in incidents in the region, according to the International Maritime Organisation (IMO). A further four remain mi...

American multinational corporation Procter & Gamble said on Thursday that it would wind down its manufacturing and commercial activities in Pakistan and rely on third-party distributors to continue to serve customers as part of a restructuring programme. The news comes as various multinational corporations (MNCs) have pulled their operations from Pakistan over the past three years, including Eli Lilly, Shell, Microsoft, Uber and Yamaha. Does this point to a greater trend suggesting that the economic climate in Pakistan is inhospitable for multinationals, or are there other reasons? Here’s what analysts have to say: ‘Companies have own reasons for exiting’ Business and economy journalist Khurram Hussain said that companies have “their own reasons” for exiting. “It is not really about Pakistan, but restructuring at their end,” he said. “Take Shell as an example. They have exited the retail fuel business in Mexico and Indonesia as well as Pakistan, and retail energy more broadly in many other markets,” he said. ...

Finance Minister Muhammad Aurangzeb is expected to present the Finance Bill 2025-26 in the National Assembly tomorrow (Tuesday). Much has been said in the lead-up to the big day; the finance minister has pledged to introduce “bold measures” to steer the national economy in a strategic direction, while the International Monetary Fund (IMF) has stressed the need for tight expenditure controls to ensure sustainable debt servicing. Meanwhile, the government has decided to cut allocations for almost all sectors, barring a rise in road building schemes and no changes to parliamentarians’ schemes. While all this chatter continues, Dawn.com reached out to former finance ministers, Asad Umar and Miftah Ismail, for their input on what the government should be prioritising in the next fiscal year. Here’s what they had to say. Asad Umar — Finance Minister [Aug 2018 - April 2019] During the last 10 years, the fiscal deficit has averaged more than 6 per cent of the gross domestic product (GDP). These heavy deficits running...