Pakistan

ST PETERSBURG: Russian President Vladimir Putin quipped on Friday that in his view the whole of Ukraine was “ours” and cautioned that advancing Russian forces could take the Ukrainian city of Sumy as part of a bid to carve out a buffer zone along the border. Putin, who ordered troops into Ukraine in 2022 after eight years of fighting in the country’s east, also said he was not seeking the capitulation of Ukraine or denying its sovereignty, but that Ukraine had to be neutral. Russia currently controls about a fifth of Ukraine, including Crimea, more than 99 per cent of the Luhansk region, over 70pc of the Donetsk, Zaporizhzhia and Kherson regions, and fragments of the Kharkiv, Sumy and Dnipropetrovsk regions. Asked about fresh Russian advances, Putin told the St Petersburg International Economic Forum that he considered Russians and Ukrainians to be one people and “in that sense the whole of Ukraine is ours”. Kyiv and its Western allies say Moscow’s claims to four Ukrainian regions and Crimea are illegal, and ...

ISLAMABAD - The counsel for Pakistan Tehrik-e-Insaf (PTI) Friday sought more time from the constitutional bench to complete his arguments in the reserved seats case.

ISLAMABAD - Prime Minister Shehbaz Sharif on Friday directed the relevant authorities to prepare a business plan for Pakistan National Shipping Corporation (PNSC) and present it within two weeks, which should include a strategy to save the annual $4 billion burden on the national exchequer.

ISLAMABAD - Prime Minister Muhammad Shehbaz Sharif Friday visited President of Jamiat Ulema-e-Islam (F) Maulana Fazlur Rehman at his residence and inquired about well being of his younger son Asjad Mehmood.

LONDON: Seven men were arrested on suspicion of assault after an “altercation” on Friday outside Iran’s embassy in London left two men injured, police said. London’s Metropolitan Police banned protesters from gathering in the area in west London after seven men were arrested “on suspicion of grievous bodily harm”. The Met said two people had been treated at the scene and taken to hospital. Their injuries were not life-threatening. The fighting was thought to have broken out within the protesting group. Protesters opposing Iran’s clerical leadership had gathered outside the embassy in west London since Sunday, hanging up flags from the nation’s ousted monarchy alongside some Israeli flags. They support the exiled Reza Pahlavi, son of the ousted shah Mohammad Reza Pahlavi, Iran’s pro-Western monarchy toppled by the 1979 Islamic Revolution. UK withdraws embassy staff from Tehran Photos published by The Telegraph showed two men receiving medical attention on the road beside the encampment. One more man was arrest...

• Restrictions on used vehicles up to five years old to be lifted from Sept • Age limit to be fully removed from July 2026; quality standards to remain mandatory • 40pc regulatory duty to end by 2029 • Panel sends its proposals to Senate ISLAMABAD: Finance Minister Muhammad Aurangzeb informed a parliamentary committee on Friday that restrictions on commercial imports of used vehicles up to five years old will be lifted from September, in line with an International Monetary Fund condition and as part of a tariff strategy to gradually phase out overprotected sectors. As of July 1, 2026, the age limit for importing used cars and vehicles will be lifted entirely. However, while age restrictions will end, strict compliance with quality standards will remain mandatory. Although the matter was not listed on the Senate Standing Committee on Finance and Revenue’s agenda, the minister disclosed the government’s four-year roadmap for used vehicle imports, which aims to align tax treatment for used and new vehicles. The ...

• Drops proposal for 4pc uniform rental valuation on commercial properties • Exclusive clubs charging Rs1m or more membership fees brought under tax net • Arrest powers of tax officials curbed; prior approval and inquiry mandatory ISLAMABAD: A parliamentary committee on Friday rejected a proposal to fix a uniform rate for rental valuation of commercial properties, while endorsing another measure to expand the tax net to high-end clubs nationwide and reinforce safeguards against tax fraud. The National Assembly Standing Committee on Finance resumed deliberations on the Finance Bill 2025 on Friday, as Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial and his team addressed queries raised by committee members. The session was chaired by MNA Naveed Qamar, who provided input on various provisions of the Bill. On the issue of a uniform 4 per cent rental valuation rate on commercial properties, MNA Mirza Ikhtiar Baig urged the tax authority to lower the proposed rate, a suggestion FBR chairman countere...

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday directed the authorities concerned to prepare a business plan for Pakistan National Shipping Corporation (PNSC) to save $4 billion through maritime trade. “Present a business plan for PNSC within two weeks, which should include a strategy to save the annual $4 billion burden on the national exchequer,” PM Shehbaz directed the authorities while presiding over a high-level meeting regarding matters related to the corporation. The prime minister also directed the authorities to acquire ships on lease to expand the PNSC fleet. “Due to a reduced number of ships in the PNSC fleet, the country has to spend approximately $4bn annually from the national exchequer on maritime trade.” The prime minister was informed that PNSC currently possessed 10 ships of various types, with a combined cargo-carrying capacity of 724,643 tonnes. The meeting was attended by Minister for Economic Affairs Ahad Khan Cheema, Minister for Maritime Affairs Junaid Anwar Chaudhry and senior PNS...

• Surpasses target for FY25 in first eleven months • Includes $6.89bn in fresh inflows; rest are rollovers from China, Saudi Arabia and UAE ISLAMABAD: Pakistan secured nearly $20bn in foreign loans and grants during the first 11 months (July-May) of 2024-25, surpassing the annual target of $19.2bn set for the fiscal year ending June 30. Almost half of this amount comprised legacy rollovers from China, Saudi Arabia, and the United Arab Emirates, while fresh loans and grant inflows totalled $6.89bn — about 9pc lower than the same period last fiscal year. According to the Economic Affairs Division’s (EAD) monthly report on Foreign Economic Assistance (FEA) released on Friday, the total FEA during July-May stood at $6.89bn, compared to $7.55bn in the corresponding period of last year, against a target of $19.4bn for 2024-25 and $17.6bn last year. This figure does not include approximately $2bn received from the International Monetary Fund (IMF) in two tranches under the ongoing $7bn Extended Fund Facility (EFF), ...

ISLAMABAD: Pakistan, China and Bangladesh have launched a trilateral cooperation mechanism, pledging to pursue “win-win cooperation” in what could mark a subtle yet significant shift in South Asia’s strategic landscape. The announcement came after the inaugural meeting of the Bangladesh-China-Pakistan Vice Foreign Minister/Foreign Secretary mechanism on Friday. A statement issued by the Foreign Office said the meeting was attended by Chinese Vice Foreign Minister Sun Weidong, Bangladesh’s acting Foreign Secretary Ruhul Alam Siddique and Pakistan’s Additional Foreign Secretary Imran Ahmed Siddiqui. Foreign Secretary Amna Baloch joined the initial session via video link. New trilateral forum looks to enhance engagement, work for more trade, investment In her remarks, Ms Baloch expressed Pakistan’s desire for a deeper engagement between China and South Asian countries. She highlighted the “upward trajectory of bilateral ties” with both China and Bangladesh and “conveyed Pakistan’s readiness to work with the two ...

• PML-N minister strongly advocates for Hazara province • PPP lawmaker calls for creation of South Punjab province ISLAMABAD: Like every year, the National Assembly on Friday once again echoed with the familiar demand for creating new provinces in the country during the general debate on the federal budget. Taking part in the debate on the budget for the next fiscal year, Federal Minister for Religious Affairs Sardar Muhammad Yousuf forcefully demanded carving out Hazara province in Khyber Pakhtunkhwa whereas PPP’s Syed Murtaza Mahmud called for bifurcating Punjab to create South Punjab province. “I demand that wherever it is administratively viable, new provinces should be created in the country. Hazara province as well as other provinces should be made to resolve the public issues and to meet people’s needs,” declared the minister who belongs to the ruling PML-N. He accused the provincial PTI government of neglecting Hazara region in general and Mansehra in particular, alleging that the people of the area w...

The Pakistani government has decided to formally recommend US President Donald Trump for the 2026 Nobel Peace Prize in recognition of his “decisive diplomatic intervention and pivotal leadership” during the recent India-Pakistan crisis. In a post shared on X, the government said the international community had “bore witness to unprovoked and unlawful Indian aggression, which constituted a grave violation of Pakistan’s sovereignty and territorial integrity, resulting in the tragic loss of innocent lives, including women, children, and the elderly”. Following the Indian aggression, Pakistan “launched Operation Bunyanum Marsoos — a measured, resolute, and precise military response”, the post read. It noted that the response was executed to exercise the country’s “fundamental right to self-defence” and “carefully to re-establish deterrence”, defending its “territorial integrity while consciously avoiding civilian harm”. The post further read that “at a moment of heightened regional turbulence”, President Trump “d...

President Donald Trump said Friday that Iran had a “maximum” of two weeks to avoid possible US air strikes, day after saying that he would make a decision within a fortnight on whether to take military action. “I’m giving them a period of time, and I would say two weeks would be the maximum,” Trump […]

Iran won’t hold negotiations until Israeli aggression stops China proposes 4-point plan to resolve Iran-Israel conflict Trump approves plan to attack Iran: Report Iran fires new salvo of missiles, explosions at Tel Aviv, Jerusalem Field Marshal Asim Munir discusses Iran with President Trump Khamenei warns US against strikes on Iran Qatar receives letter from Iran’s […]

ISLAMABAD: On the completion of the second year of the Special Investment Facilitation Council (SIFC), significant milestones have been achieved to boost the digital economy of Pakistan, enabling PayPal for Pakistani freelancers as a key achievement. SIFC, by this initiative, has simplified international payments and boosted the country’s freelance ecosystem. The trial project, launched earlier […]

Hollywood actor Owen Wilson has rejoined fellow actors Ben Stiller and Robert DeNiro in ‘Meet the Parents 4.’ To Read Lifestyle Stories in Urdu- Click Here Directed by John Hamburg, who co-wrote all three prior films, the film will introduce singer Ariana Grande to the comedy film series. Reports said that Ariana Grande will play […]

Fears becoming first casualty of $1b import surge, 2 million job losses

Indirect fiscal financing via OMO amid IMF borrowing limits; rupee down 6 paisas to 283.70/$

PM aide says policy can reduce 4.5m tonnes of CO2 emissions, save $1b in oil imports

Short-term inflation extends upward trend but annual reading eases 2.06%