Pakistan

The government has assured the International Monetary Fund that the Rs140 billion cross-subsidy currently provided to gas consumers will be phased out by January 2027 as part of broader economic reforms.

A Karachi court on Wednesday granted police a three-day physical remand of alleged drug trafficker Anmol alias Pinky for further investigation into a suspected narcotics network operating in the city.

President Asif Ali Zardari on Wednesday approved the award of Sitara-e-Shujaat for Liaqat Shaheed, a civilian who lost his life while attempting to stop a suicide bomber near Kohat, in recognition of his bravery and sacrifice.

Russia’s President Vladimir Putin has welcomed the test launch of the new strategic nuclear missile Sarmat, describing it as “the most powerful in the world”. State TV showed Sergei Karakayev, commander of Russia’s strategic missile forces, reporting to Putin on what he said was a successful Sarmat test-launch on Tuesday. Putin said Russia will deploy Sarmat for “combat duty” by the end of this year. The planned deployment of the missile — designed to deliver nuclear warheads to strike targets thousands of miles away in the United States or Europe — follows years of setbacks and delays. Putin, in televised comments, said the yield of the warhead was more than four times greater than any Western equivalent and its range exceeded 35,000 kilometres (21,750 miles). “It has the ability to penetrate all existing and future anti-missile defence systems,” he said. “The deployment of launchers equipped with the Sarmat missile system will significantly enhance the combat capabilities of the ground-based strategic nucle...

Interior Minister Mohsin Naqvi on Wednesday vowed that illegal constructions would be “completely eradicated” from Islamabad. He made the remarks during a special meeting he and Minister of State for Interior Tallal Chaudhry were chairing, the interior ministry said on the social media platform X. “Land-grabbing mafia and illegal constructions will be completely eradicated from Islamabad,” the ministry quoted Naqvi as saying. He vowed, “Operation Clean-up would continue without any pressure until it achieves its final result.” For the past two months, the Capital Development Authority (CDA) has been conducting anti-encroachment operations in Islamabad, with a special focus on katchi abadis (informal settlements), whose residents have strongly protested the actions. According to CDA’s rules, 34 societies/schemes were supposed to transfer amenity land in the name of the civic agency for further utilisation. However, despite the passage of years, CDA has failed to get the land. There are reports that many societ...

Finance Minister Muhammad Aurangzeb on Wednesday discussed preparations for the upcoming federal budget and the country’s broader reform agenda with the International Monetary Fund (IMF) visiting Islamabad, the finance ministry said. He briefed the delegation on the country’s macroeconomic outlook, fiscal strategy, reform priorities, and the government’s ongoing efforts to ensure sustainable economic stability and long-term growth, the ministry said on the social media platform X. The ministry said that the discussions focused on the country’s “macroeconomic stabilisation efforts, preparations for the upcoming federal budget, and the broader reform agenda aimed at strengthening fiscal and external sustainability while fostering sustainable economic growth”. “Both sides exchanged views on maintaining reform momentum, preserving macroeconomic stability, and advancing structural reforms to promote investment, productivity, and export-led growth within a balanced and forward-looking policy framework,” the ministr...

The United States has said it was imposing visa restrictions on 13 people linked to Indian online pharmacy KS International Traders for selling counterfeit prescription pills laced with fentanyl. The 13 people are close associates of KS International Traders, which operates out of India, and its owner, the US State Department said on Tuesday. The Mumbai-based company’s web site, as listed in US government records, could not be accessed. No names or contacts of its senior executives were available. India’s foreign and health ministries did not immediately respond to requests for comment. KS International Traders generated revenue through trafficking in fentanyl, which President Donald Trump has designated as a “weapon of mass destruction”, the State Department said. Fentanyl is a powerful synthetic opioid used for pain relief, but it is tightly restricted in the United States because of its high potency and its role in a surge in overdose deaths linked to illicit use. “Illicit fentanyl is killing too many Amer...

India has boosted its import tariffs on gold and silver in an effort to shore up the sagging value of the rupee and bolster foreign currency reserves hit by war in the Middle East. Gold imports are financed through dollars, which means buyers have to spend down foreign reserves or convert rupees to make purchases. Prime Minister Narendra Modi had already appealed days ago to the public to avoid buying gold for a year as the rupee’s year-long slide against the dollar has worsened during the Iran war. The government more than doubled import taxes on gold and silver to about 15 per cent from the existing 6pc, according to two official orders issued late Tuesday. The energy supply crisis caused by the Mideast war’s closure of the Strait of Hormuz — through which a fifth of the world’s crude passed — has hit India hard. India is the world’s third-largest oil importer and the spiking cost of petroleum has hit its foreign currency reserves. Elevated crude oil prices have increased India’s import bill, putting additi...

Peshawar - At least nine people including two traffic police officials and a woman were martyred and more than 33 others were injured when a heavy explosive planted in a motorcycle went off in the main market of Sarai Naurang tehsil in Lakki Marwat district on Tuesday.

ISLAMABAD - Prime Minister Shehbaz Sharif on Tuesday emphasised the need to utilise all resources for capacity building of the law enforcement agencies to ensure protection of people’s lives and property.

KARACHI - The State Bank of Pakistan (SBP), releasing its State of Pakistan’s Economy, Half Year Report FY26 on Tuesday, stated that Pakistan’s macroeconomic stability strengthened further in the first half of fiscal year 2025-26 with 3.

ISLAMABAD - The Islamabad High Court (IHC) Tuesday issued notices to the Capital Development Authority (CDA) in an Intra-Court Appeal (ICA) filed by apartment owners of One Constitution Avenue.

ISLAMABAD - The Supreme Court of Pakistan on Tuesday directed the Islamabad High Court to decide within two weeks the petitions filed by human rights lawyer Imaan Zainab Mazari and her husband, Hadi Ali Chattha, seeking suspension of their sentences in the controversial social media posts case.

Islamabad - Pakistan’s Federal Health Minister Syed Mustafa Kamal met with Iran’s Ambassador to Pakistan Dr Reza Amiri Moghadam to discuss expanding bilateral cooperation, particularly in the health sector on Tuesday.

The State Bank of Pakistan (SBP) said on Wednesday that it had recieved $1.3 billion from the International Monetary Fund (IMF). “The IMF Executive Board completed the third review under the Extended Fund Facility (EFF) in its meeting held on May 8 and approved the disbursement of SDR 760 million for Pakistan. Furthermore, the IMF Executive Board has also approved the disbursement of the second tranche of SDR 154 million under the Resilience and Sustainability Facility (RSF),” the central bank said on the social media platform X. “Accordingly, SBP has received SDR 914 million (equivalent to about US$ 1.3 billion) under the EFF and RSF in value May 12 from the IMF,” it said. It said that the amount would be reflected in the country’s foreign exchange reserves for the week ending on May 15. Last week, the international money lender had approved the latest review of Pakistan’s reform programme. The decision paved the way for disbursements of about $1.1bn from the EFF and $220m from the RSF, bringing total payout...

LAHORE - Punjab Chief Minister Maryam Nawaz Sharif on Tuesday said Pakistan could not be stopped from progressing if the country’s political and military leadership remained united and committed to stability and development.

Spokesperson says US media report on presence of Iranian aircraft in Pakistan ‘misleading and sensationalised’.

ISLAMABAD - Interior Minister Mohsin Naqvi paid an official visit to the National Police Academy (NPA) on Tuesday, where he chaired a high-level meeting and reviewed multiple development projects aimed at modernising police training in Pakistan.

Attock - The funeral prayer of the brave citizen Muhammad Liaquat Ali Shaheed, who sacrificed himself while foiling a suicide attack in Tehsil Jand of Attock district, was offered with official honors at Police Lines Attock.

• Gap shrinks to Rs856bn, or 0.7pc of GDP, during July-March • Provincial surpluses, higher PDL collections, lower debt servicing drive improvement • Revenue-to-GDP ratio falls; defence, pension, subsidy expenditures rise ISLAMABAD: Supported by higher-than-targeted provincial contributions, strong petroleum levy collections and lower interest payments during the first three quarters of the current fiscal year, Pakistan recorded its lowest fiscal deficit in at least 27 years at 0.7 per cent of GDP, despite a decline in revenue ratios and increases in most expenditure heads except debt servicing. According to official fiscal operations data released by the Ministry of Finance for July-March, the historically low fiscal deficit was achieved after a gradual reversal of the Rs2.1 trillion surplus, equivalent to 1.6pc of GDP, recorded in the first quarter (July-September) of the current fiscal year. The budget surplus had narrowed to Rs542 billion (0.4pc of GDP) by the end of the first half and eventually turned i...