Pakistan

The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 surged by more than 14,000 points on Wednesday as investors reacted to the positive developments of a ceasefire between the United States and Iran. The KSE-100 index surged by 12,362.38 points, or 8.15 per cent, to stand at 164,035.83 shortly after opening. Subsequently, trading was temporarily suspended in accordance with PSX regulations. As of 3:08pm, the market had gained 13,925.47 points, or 9.18 per cent, from the previous close of 151,673.45 to stand at 165,598.92. The index closed at 165,811.00, up 14137.55 points or 9.32pc. The gains marked the highest single-day rally in absolute terms in PSX history, surpassing the previous highest-ever gain of 10,123 (9.45pc) on May 12, 2025, after Pakistan shot down seven Indian fighter planes. On Tuesday, the PSX had closed up by 465.64 points after witnessing extreme volatility as investors had remained highly nervous ahead of the expiry of a US deadline for Iran to agree to a deal. Analysts believe tha...

Pakistan on Wednesday announced that the Islamic Republic of Iran and the United States of America, along with their allies, had agreed to an immediate ceasefire, including in Lebanon, effective immediately, and invited their delegations to Islamabad on April 10 for talks aimed at reaching a lasting settlement of disputes. Prime Minister Shehbaz Sharif announced the ceasefire in an early-morning post on X, welcoming the move and extending his “deepest gratitude” to the leadership of both countries. Both sides have displayed “remarkable wisdom and understanding” and remained constructively engaged in furthering the cause of peace and stability, the prime minister said, expressing hope that the ‘Islamabad Talks’ would succeed in achieving sustainable peace and that more positive developments would follow in the coming days. The prime minister, who helped mediate the ceasefire, also invited delegations from both countries to Islamabad on April 10 to “hold further negotiations towards a conclusive agreement to se...

Two ships have passed through the Strait of Hormuz since Iran agreed to reopen the waterway as part of a ceasefire deal, maritime monitor Marine Traffic said on Wednesday. “The Greek-owned bulk carrier NJ Earth crossed the Strait at 08:44 UTC, while the Liberia-flagged Daytona Beach transited earlier at 06:59 UTC, shortly after departing Bandar Abbas at 05:28 UTC”, MarineTraffic said on X. The United States and Iran agreed overnight from Tuesday to Wednesday to a two-week ceasefire, during which passage through the Strait of Hormuz “will be possible via coordination with Iran’s armed forces”, Iran’s Foreign Minister Abbas Araghchi said on X. “NJ Earth’s transit may be an early sign of movement, but it is still too soon to tell whether this reflects a broader ceasefire-driven reopening or a previously approved exception,” Ana Subasic, analyst at MarineTraffic owner Kpler told AFP. The Greek-owned ship kept its transponder signal on as it transited the strait via an Iranian-approved route near Larak Island, use...

Pakistan Tehreek-e-Insaf (PTI) on Wednesday welcomed the announcement of a two-week ceasefire between the United States and Iran.

ISLAMABAD: In the middle of oil supply challenges and pricing controversies, the government on Wednesday removed acting chairman of the Oil & Gas Regulatory Authority (Ogra) and appointed an officer of the Pakistan Administrative Service (PAS), formerly District Management Group (DMG), on an interim basis. In a notification issued by the Cabinet Division, Nabeel Ahmed Awan, a BS-22 officer of PAS, presently posted as secretary, Establishment Division, has been given the additional charge of Ogra chairman with immediate effect and for a period of three months or till the appointment of a regular Ogra chairperson. The incumbent, Shahzad Iqbal, who had also been serving as the regulator’s top official on a look-after basis, will continue in his position as Member Gas. He had earlier come under criticism during a meeting of the finance minister–led Cabinet Committee on Oil Products Monitoring for poor progress on the automation and integration of the supply chain and petroleum pricing. Participants noted that he ...

Petroleum prices in Pakistan are expected to be reduced by Rs 30 to 60 per litre following a decline in international oil prices, triggered by the recent ceasefire between Iran and the United States.

Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar held separate discussions on Wednesday with Minister of State of Qatar, Dr.

Hanif Abbasi has said that Pakistan has demonstrated its capability to promote global peace as a responsible state following the recent ceasefire between Iran and the United States.

North Korea fired multiple short-range ballistic missiles in two rounds on Wednesday, South Korea’s military said, after reporting an “unidentified projectile” was launched from the Pyongyang area the previous day. South Korean President Lee Jae Myung has sought to repair ties with the North since taking office last year, criticising his predecessor for allegedly sending drones to scatter propaganda over Pyongyang. On Monday Seoul expressed regret over civilian drone incursions into the North in January, with President Lee calling it “irresponsible” and noting that government officials had been involved in the operation. The launches — the North’s fourth and fifth known ballistic missile tests this year — are seen as North Korea’s latest rebuff of Seoul’s peace overtures, according to analysts. The South Korean military said early Wednesday it had detected “an unidentified projectile” launched from the area of the North’s capital a day earlier. About an hour later, the military said it also detected “multiple...

Federal Minister for Science and Technology Khalid Hussain Magsi has lauded Prime Minister Shehbaz Sharif for what he termed a significant diplomatic achievement in helping ease tensions between Iran and the United States.

World leaders have welcomed the recently announced ceasefire between the United States and Iran, while praising Pakistan and other nations for their role in facilitating the agreement.

Pakistan’s national cyber response body, Pakistan Computer Emergency Response Team, has issued a public advisory after a surge in hacking incidents and online fraud targeting users of WhatsApp.

Backchannel diplomatic efforts by Pakistan appear to have finally paid off, as the United States and Iran agreed to a two-week ceasefire after weeks of escalating hostilities triggered by US-Israeli strikes on February 28 that quickly spiralled into a wider regional conflict. During this time, the crisis has unfolded through a mix of military escalations, retaliatory attacks, and behind-the-scenes negotiations, with failed ceasefire proposals and last-minute mediation all shaping the path to this vital breakthrough. Here is a timeline of the key events and statements that defined the conflict: February 28 The US and Israel launched an attack on Iran via air and sea: a series of blasts in Tehran, including near the residence of the supreme leader. A US-Israel airstrike on an elementary school in southern Iran killed more than 170 people, most of them schoolgirls. In retaliation, Iran attacked at least seven Gulf states, striking civilian infrastructure, damaging airports in the UAE and Kuwait, deploying a dron...

Prime Minister Shehbaz Sharif is set to chair a meeting of the federal cabinet today (Wednesday), with discussions expected to focus on the evolving situation in the Middle East following a reported ceasefire between Iran and the United States.

ISLAMABAD: The Islamabad High Court (IHC) has restrained the Capital Development Authority (CDA) from cutting trees along Ataturk Avenue, from Express Chowk to Aga Khan Road, while seeking responses from the civic agency and other parties. Justice Khadim Hussain Soomro passed the order while hearing a petition filed by Ayesha Muzaffar challenging the ongoing tree cutting for a road expansion project. Advocate Mudassar Latif Abbasi appeared on behalf of the petitioner and argued that the CDA was acting in clear violation of a prior court order, issued on January 15, 2026, in Writ Petition No. 153/2026, which restrained the authority from cutting trees in the federal capital. The counsel contended that the authority had adopted an “unsustainable approach” to traffic management by resorting to cutting trees and widening roads. “Opening roads by eliminating green cover is not a solution to traffic issues,” Advocate Abbasi argued, adding that the project involved the removal of more than 55 large trees and dozens ...

Oil prices slid, stocks and bonds surged, while the safe-haven dollar was knocked back on Wednesday, as ​a two-week Middle East ceasefire brought some relief to markets on hopes for a resumption of oil and gas flows through the Strait of Hormuz. The news capped ‌weeks of market volatility and geopolitical upheaval after US and Israeli strikes on Iran at the end of February pushed tensions to the brink, with Tehran effectively choking off the strategic waterway that typically carries about 20 per cent of the world’s energy supplies. US President Donald Trump agreed to the ceasefire less than two hours before his deadline for Iran to reopen the strait or face ​devastating attacks on its civilian infrastructure. Market reaction was swift and dramatic, with US crude futures down around 15pc to $96.31 a barrel, while Brent ​futures also slid 13pc to $94.71 per barrel. S&P 500 futures rose 2.5pc, while European futures leapt more than 5pc. US Treasuries rallied ⁠while futures for German Bunds and French OATs surged...

The Pakistan Stock Exchange witnessed a strong rally at the start of trading on Wednesday, with the benchmark KSE-100 Index soaring by 12,362 points, or 8.

The Ministry of IT and Telecom Pakistan has launched a new training initiative, the Upskilling Training Program (USTP), aimed at developing specialized skills in the semiconductor sector as part of the government’s broader strategy to strengthen Pakistan’s position in the global technology market.

Prime Minister Muhammad Shehbaz Sharif held a meeting with Minister for Kashmir Affairs and Gilgit-Baltistan, Engineer Amir Muqam, to discuss the evolving regional and political situation.

• Excise minister says system restored after being secured • 3,000 bikers applied for Rs2,000 each subsidy; amount transferred to 1,500 individuals via their Sindh Bank accounts • Sharjeel, Chawla announce seizure of half tonne of crystal meth in joint operation at sea KARACHI: Sindh Excise Minister Mukesh Kumar Chawla said on Tuesday that the online fuel subsidy system for motorcyclists was “temporarily shut down due to repeated hacking attempts”. Sindh Chief Minister Murad Ali Shah had on Monday launched a portal for registered motorcyclists to avail a Rs2,000 each fuel subsidy by entering their computerised national identity card (CNIC) and bank account details at (taxportal.excise.gos.pk) after which they receive an automated confirmation. However, thousands of motorcyclists, who had tried to log onto the portal for hours, complained that they could not get themselves registered because it was not available for hours. On Tuesday, responding to questions regarding motorcycle registration under the Peoples ...