June | Pakistan

Adviser to the Finance Minister, Khurram Schehzad, on Friday announced that the federal budget for the fiscal year 2025-26 will be presented on June 10. Earlier, Planning Minister Ahsan Iqbal announced that the federal government will present the next fiscal year’s budget on June 2, with a 16 per cent lower development allocation of Rs921 billion, resulting in the likely closure of about 200 ongoing development projects. The adviser published a post on X today, which read, “The Federal Budget for FY 2025–26 of Pakistan will be presented on June 10, 2025. “The Pakistan Economic Survey 2024–25 will be released a day before the Federal Budget, on June 9, 2025,” he added. Last year, Finance Minister Muhammad Aurangzeb presented his first federal budget with a total outlay of Rs18.9 trillion, which analysts said was broadly “in line with IMF guidelines”. Aurangzeb, during the budget presentation, said that the goal was to widen the tax base to avoid burdening existing taxpayers. Pakistan’s total revenue for the cu...

Pakistan has prolonged its ban on Indian aircraft from entering its airspace until June 24, 2005, as stated in a newly issued Notice to Airmen (NOTAM) by the Pakistan Airports Authority.

The Pakistan Airports Authority (PAA) on Friday announced that the airspace ban on Indian airlines was extended until June 24 amid the recent escalation with India. New Delhi had accused Islamabad, without evidence, of orchestrating last month’s deadly attack in occupied Kashmir’s Pahalgam. Pakistan had strongly denied the allegations and called for a neutral probe. As the situation turned into a military confrontation between the nuclear powers, it took American intervention for both sides to agree to a ceasefire. On April 24, Pakistan’s top brass had announced a series of measures, including the closure of its airspace to all India-owned or Indian-operated airlines with immediate effect, as it retaliated against New Delhi’s slew of aggressive measures against the country. According to today’s statement by the PAA, “The ban on Indian aircraft flying over Pakistani airspace has been extended until 4:59 am on June 24, 2025. All Indian registered, operated, owned or leased aircraft will remain under the ban. “N...

RAWALPINDI: Pakis­tan International Airlines (PIA) announced on Thursday the launch of direct flights from Lahore to Paris, with the first flight scheduled to take off on June 18, as part of its strategy to further expand flight operations “PIA has decided to operate a weekly flight from Lahore to Paris every Wednesday,” a spokesman for PIA said. “With the launch of this flight, three direct flights per week will become part of PIA’s operations.” The new route is part of the airline’s broader strategy to extend its network to Europe and meet growing demand from the Pakistani diaspora in France and Pakistan, the spokesman said. “This direct route to Paris addresses a long-standing demand from the Pakistani community, offering affordable fares and time savings,” the spokesman added. Earlier this year, to mark the relaunch of PIA flights from Islamabad to Paris, the airline decorated a Boeing 777 aircraft with a model of the Eiffel Tower on its tail and the slogan “I Love Paris” on the nose. The aircraft was mod...

The festive occasion of Eidul Azha is likely to be celebrated across Pakistan on June 7, 2025, according to the Space and Upper Atmosphere Research Commission (Suparco). In a statement, the commission issued a prediction regarding the sighting of the crescent moon for the month of Zilhaj 1446 AH, “based on scientific analysis, astronomical data, and modern observational techniques.” It said according to astronomical models, the birth of the new moon for Zilhaj will occur on May 27, 2025, at 8:02pm PST. The scientific analysis for May 27, 2025 (29 Ziqa’ad) in Pakistan indicates the age of the moon at sunset will be approximately 11 hours and 34 minutes, it mentioned. “Even under the most optimal weather conditions, the possibility of the moon being sighted across the country is extremely low, as there will only be a 37-minute interval between sunset and moonset,” it added. The commission said 1st Zilhaj is expected to fall on May 29. Therefore, Eidul Azha will be celebrated across Pakistan on June 7. It added ...

The federal government is set to present the budget for the fiscal year 2025–26, with an estimated outlay of around Rs20 trillion, in Parliament on June 2, official sources confirmed.

• NEC to meet on May 26 or 27 to approve development programme • 200 ongoing uplift projects likely to be closed • Ahsan says proper allocations cannot be made for key schemes ISLAMABAD: The federal government will present the next fiscal year’s budget on June 2, with a 16 per cent lower development allocation of Rs921 billion, resulting in the likely closure of about 200 ongoing development projects. This was announced at a press conference by Planning Minister Ahsan Iqbal, who disclosed that an indicative budget ceiling (IBC) of Rs921bn for the next year provided by the Ministry of Finance was over three times lower than Rs2.9 trillion demanded by the Planning Commission based on requirements of various ministries for development projects. The figure is also around 16pc lower than the current year’s revised allocation of Rs1.1tr, slashed on the instructions of the International Monetary Fund (IMF) from Rs1.4tr approved by the parliament as part of the federal budget 2024-25. The minister said he would conte...

The International Monetary Fund (IMF) has directed Pakistan to proceed with further downsizing at the Utility Stores Corporation as part of its right-sizing initiative, with a deadline set for June 30.

LAHORE - Punjab Chief Minister Maryam Nawaz Sharif has issued a firm directive to complete all projects under the Lahore Development Plan by June 30, setting strict monthly timelines for progress monitoring.

The federal government has officially invited expressions of interest (EOIs) from potential investors for the privatisation of Pakistan International Airlines (PIA), marking a major development in its bid to offload a controlling stake in the national flag carrier. According to the Privatisation Commission, the decision has been made to sell between 51% and 100% of PIA shares, along with management control, to the prospective buyer. Interested parties have until June 3, 2025 to submit their EOIs. As part of the process, the government has announced a number of incentives for investors. These include relief from 18% general sales tax (GST) on the purchase or lease of new aircraft. Additionally, protection and coverage will be provided in certain tax and legal cases, the commission stated. The move also involves the transfer of specific liabilities listed on PIA’s balance sheet, aimed at making the offer more attractive to potential buyers. This privatisation effort is a central component of the government’s br...