Pakistan

KARACHI: Finance Minister Muhammad Aurangzeb said on Tuesday that human intervention between the tax administration and taxpayers would be reduced to a minimum under a new AI-led engagement model. Addressing a banking summit in Karachi, the minister said parliament had introduced a new tax administration operating model and approved a new structure in which notices would be issued through AI-led systems. The minister discussed several segments of the economy and expressed optimism about the launch of international bonds. He said that although Pakistan was late in entering the financial market of China, the world’s second-largest economy, the Panda Bond remained a significant achievement for the country. Says Pakistan preparing to launch more Eurobonds, sukuk Pakistan had been trying for years to tap the Chinese financial market but could not do so for several reasons. However, the government succeeded in entering the market to raise yuan equivalent to $250 million in mid-May 2026. The bond attracted demand mo...

• Suparco says obstructed floodplain could trigger overbank flooding, debris flows • Satellite imagery shows number of ‘unfrozen lakes’ increased from 24 to 40 in just two weeks ISLAMABAD: With the monsoon season now under way, the Pakistan Space and Upper Atmosphere Research Commission (Suparco) has raised concern over the uncontrolled spread of settlements along a natural glacial lake-fed stream near Gilgit city, warning that lives, property and livestock could be at risk. A comparison of satellite images from 2013 and 2023 clearly reveals the rapid and largely uncontrolled expansion of settlements along the natural stream near Gilgit city. The stream is fed by upstream glacial lakes within the catchment, making it highly sensitive to climate-induced hazards such as glacial lake outburst floods (Glofs). Over the past decade, urban growth has progressively encroached into the natural flood conveyance zone and alluvial fan of the stream, significantly reducing its capacity to safely accommodate high-magnitude...

ISLAMABAD: Russia has lifted restrictions on the import of potatoes from Punjab, allowing 101 exporters to resume shipments from July 7 after reviewing Pakistan’s phytosanitary control system, Pakistan’s trade officer in Moscow said on Tuesday. The decision to lift the ban was formally communicated to Pakistan’s Ministry of National Food Security and Research. However, the Russian Federal Service for Veterinary and Phytosanitary Surveillance has barred two Pakistani exporters from exporting potatoes to Russia, citing their failure to comply with the required phytosanitary standards. According to the trade officer’s letter, the Russian Federal Service for Veterinary and Phytosanitary Surveillance had informed Pakistani authorities that potato imports from Punjab would be permitted, subject to guarantees provided by Pakistan’s Department of Plant Protection. The Russian authority said the decision followed a review of the list of Pakistani potato exporters and their planned export volumes from Punjab. However, ...

Switzerland beat Colombia 4-3 on penalties after a goalless draw on Tuesday to set up a quarter-final with defending champions Argentina. The two teams cancelled each other out in the final game of the last 16 — the last match to be played at the 2026 tournament outside the United States. Both teams missed spot-kicks before Switzerland goalkeeper Gregor Kobel brilliantly saved Cucho Hernandez’s effort and Ruben Vargas scored the decisive penalty. Colombia, once again backed by thousands of passionate fans in Vancouver, had conceded just once in their four games before Tuesday’s match and the Swiss had also proved difficult to break down. The first action of note came in the 21st minute when Kobel was forced into a flying save to keep out Gustavo Puerta’s curling effort from the edge of the penalty area. The Swiss stepped up a gear immediately after the first hydration break, with Camilo Vargas beating away a shot from Fabian Rieder before denying Dan Ndoye. But the match was goalless at half-time, with two we...

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PM Shehbaz Sharif orders to ensure transparency New policy provides separate quotas for govt, private Hajj schemes Intending pilgrims will be able to register once for any Hajj season up to 2030 PM Shehbaz vows to eliminate terrorism Reaffirms Pakistan’s commitment to achieving polio free.

KARACHI - Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday said that the current account performance remains strong due to record remittance flows.

ISLAMABAD - Pakistan and the Kyrgyz Republic have reaffirmed their strong commitment to establishing a strategic partnership, placing a particular emphasis on the critical importance of deepening trade, economic, and investment cooperation between the two nations.

LAHORE - Punjab Chief Minister Maryam Nawaz Sharif on Tuesday held separate meetings with Members of the Provincial Assembly Mian Shahid Hussain Khan and Muhammad Aoun Jahangir to review public issues, the law and order situation, constituency matters and the progress of development projects across the province.

RAWALPINDI: A K2 Airways Boeing 737-400 cargo aircraft en route from Sharjah to Karachi disappeared from radar over the Arabian Sea, about 300 kilometres west of Karachi, on Tuesday. According to reports, the aircraft lost contact about 300 kilometres west of Karachi while approaching Pakistani airspace. The pilot reported a navigation problem during the flight and requested assistance from the area control centre. K2 Airways is a private airline based in Karachi. The carrier was established in May 2018 after being granted an airline charter licence by the government. There were five crew members on board the aircraft, the Pakistan Airports Authority (PAA) said. The authority added that a K2 Airways Boeing 737 Pakistan Cargo flight en route from Sharjah to Karachi reported a navigational system issue at 9:18pm and was promptly guided by the Karachi Area Control Centre (ACC). However, at 9:21pm, the aircraft was observed on radar “rapidly descending” and making a sharp change in heading. Subsequently, “radar c...

ISLAMABAD - Deputy Prime Minister and Foreign Minister Ishaq Dar yesterday chaired a high-level meeting to review Pakistan’s ongoing engagement with a range of multilateral initiatives and assess the country’s preparedness for several upcoming international events.

ISLAMABAD - The combination and formation of the federal cabinet, particularly in a multi-party coalition, has always been a complex exercise owing to pressure from coalition partners, performance evaluation and other contributory factors.

ISLAMABAD - Chief Justice of Pakistan (CJP) Justice Yahya Afridi Tuesday met with United Nations Resident Coordinator in Pakistan Mohammed Yahya, on his farewell call at the Supreme Court of Pakistan, marking the successful conclusion of his tenure.