Pakistan

KARACHI: A series of positive triggers continued to drive bullish momentum at the Pakistan Stock Exchange (PSX), which scaled an all-time high in two record-setting sessions, thanks to the improved economic outlook in the outgoing short week, settling for the first time above the 121,000 barrier. The optimism following the government’s finalised agreements for a historic loan package of Rs1.275 trillion with approximately 18 commercial banks to address circular debt sent the benchmark index to new highs. The other key positive development was the approval of $800 million loan by the Asian Development Bank under Pakistan’s public finance programme. In May, inflation, as measured by the Consumer Price Index, saw a significant increase, rising to 3.5pc from a record low of 0.3pc in April. This sudden spike could be a major concern for investors, as it may halt the ongoing trend of interest rate cuts by the State Bank of Pakistan. The current momentum suggests that the KSE-100 index may be poised to test the 125,...

Says party in no position to lead any such movement; calls for dialogue

GILGIT: The World Environment Day remained largely ignored in Gilgit-Baltistan, as no major event was held across the region this year. However, some national and international non-governmental organisations marked the day in various areas, though with limited public attention. Environmentalists expressed reservations over the lack of importance given to the day in this ecologically sensitive region, and called for urgent action to reduce disaster risks stemming from environmental degradation and climate change impacts. An event related to the day was held at Rakaposhi Viewpoint in the Ghulmet area of Nagar district. It was organised by the Mountain Area Development Network (MADN) in collaboration with WWF-Pakistan. The event was attended by students, community members, representatives from various local support organisations and officials from NGOs. Activities included a cleanliness drive at Rakaposhi Viewpoint, an awareness walk to highlight the importance of the day, and an exhibition of eco-friendly produ...

ISLAMABAD: In line with an apparant government’s commitment with the IMF, the Islamabad High Court has cleared stay orders in 270 cases in a couple of months, enabling tax authorities to recover over Rs600bn. According to the details obtained from the IHC, three division benches decided these tax-related matters. A few of the restraining orders issued in these cases incapacitated Federal Board of Revenue (FBR) to collect taxes for over two decades. The division bench of Justice Mohammad Azam Khan and Justice Raja Inaam Ameen Minhas decided an overwhelming majority of 173 of tax cases involving Rs424bn. Another bench comprising Justice Babar Sattar and Justice Sardar Ejaz Ishaq Khan cleared 94 cases in which over Rs150bn recoveries were stalled. A bench comprising acting IHC Chief Justice Sardar Mohammad Sarfraz Dogar and Justice Raja Inaam Ameen Minhas lifted the stay orders and decided three petitions that had in 2023 restrained the FBR to collect Rs36bn. Judicial policy body had advised high courts to const...

QUETTA: Justice Rozi Khan Barrech of the Balochistan High Court took the oath of acting chief justice of the BHC, after the retirement of Chief Justice Ejaz Ahmed Swati on Friday. Balochistan Governor Sheikh Jaffar Khan Mandokhail administered the oath to the acting chief justice at a simple ceremony held at Governor House. The oath-taking ceremony was attended by retired Justice Amir-ul-Mulk Mengal, retired Justice Amanullah Khan Yasinzai, judges of Balochistan High Court, President of Supreme Court Bar Association Mian Rauf Atta, President of the High Court Bar Association Advocate Attaullah Langove, Inspector General of Police Moazzam Jah Ansari and a large number of senior lawyers and government officials. The notification about Justice Rozi Khan’s appointment as the acting chief justice was issued on May 5. Published in Dawn, June 7th, 2025

DHAKA: Bangladesh will hold elections in early April 2026 for the first time since a mass uprising overthrew the government last year, interim leader Muhammad Yunus said on Friday. The South Asian nation of around 170 million people has been in political turmoil since former prime minister Sheikh Hasina was ousted by a student-led revolt in August 2024, ending her iron-fisted rule of 15 years. “I am announcing to the citizens of the country that the election will be held on any day in the first half of April 2026,” said Yunus, the 84-year-old Nobel Peace Prize winner who leads the caretaker government. Political parties jostling for power have been repeatedly demanding that Yunus fix an election timetable, while he has said time is needed as the country requires an overhaul of its democratic institutions after Hasina’s tenure. Interim leader Yunus says his govt’s major responsibility is to ensure ‘transparent, participatory election’ “The government has been doing everything necessary to create an environment...

JERUSALEM: Prime Minister Benjamin Netanyahu admitted that Israel is supporting an armed group in Gaza that opposes Hamas, following comments by a former minister that Israel had transferred weapons to it. Israeli and Palestinian media have reported that the group Israel has been working with is part of a local Bedouin tribe led by Yasser Abu Shabab. The European Council on Foreign Relations (EFCR) think tank describes Abu Shabab as the leader of a “criminal gang operating in the Rafah area that is widely accused of looting aid trucks”. Knesset member and former defence minister Avigdor Liberman had told the Kan public broadcaster that the government, at Netanyahu’s direction, was “giving weapons to a group of criminals and felons”. Popular Forces outfit denies being ‘a tool of the occupation’ “What did Liberman leak? That security sources activated a clan in Gaza that opposes Hamas? What is bad about that?” Netanyahu said in a video posted to social media on Thursday. Michael Milshtein, an expert on Palestin...

ISLAMABAD: The minister of state for crypto and blockchain, Bilal Bin Saqib, met with top US lawmakers and the New York City mayor this week to strengthen cooperation on digital assets, blockchain regulation and financial innovation. The minister held discussions with Senator Cynthia Lummis, a key architect of US crypto legislation, as well as senators Bill Hagerty, Rick Scott, Tim Sheehy and Jim Justice in Washington, DC. Mr Saqib also engaged with members of the House Financial Services Committee and White House advisers, according to a press release issued on Friday. He said Pakistan is “here to lead” the world of crypto and blockchain. “From Capitol Hill to the White House, I shared a new face of Pakistan: one driven by youth, innovation, and global partnerships.” Mr Saqib’s discussions with US officials focused on Pakistan’s recent initiatives, including plans for a strategic bitcoin reserve, a virtual asset regulatory framework and stablecoin adoption to streamline remittances. With $36 billion in annua...

ISLAMABAD: Prime Minister Shehbaz Sharif has thanked the crown prince of Saudi Arabia, Mohammed Bin Salman, for his role in ending the conflict between Pakistan and India last month. The prime minister, acco­mpanied by his delegation, including the army chief, deputy PM and federal ministers, also performed Umrah on Friday when pilgrims performed the last major ritual of Haj — the “stoning of the devil”. The PM, who is on a two-day official visit to Saudi Arabia, met the Saudi crown prince in Makkah, according to an official press release issued by the Prime Minister’s Office. “The prime minister expressed appreciation for the kingdom’s proactive role during recent tensions between Pakistan and India, and its steadfast commitment to promoting peace and stability in the region and beyond.” Performs Umrah alongside army chief; Haj winds down with pilgrims ‘stoning the devil’ in Mina PM Shehbaz also underscored Pakistan’s policy of responsible restraint in the face of Indian aggression, emphasising that “sustain...

Climate change poses a risk to Balochistan’s marine fisheries and resources and coastal livelihoods

As development continues along the Indus, reduced water flow & fertility plague locals’ survival in Sindh’s delta

With education & employment still a challenge, the transgender community struggles to access safe housing

Forts of Potohar presents a vivid journey through the region’s crumbling citadels, blending history & folklore

A taut & moody whodunit, it will grip you with its satisfying dose of shock & acerbic Scottish wit

Despite no legal or religious basis, many Pakistani mothers stay single fearing custody loss after remarriage

When war drums echoed, India’s celebrities chose between silence, spectacle, or safe nationalism

KARACHI: As the government prepares to unveil the federal budget for the next fiscal year, the upcoming National Tariff Policy 2025-30 — designed under IMF guidance — is triggering alarm among local auto assemblers. The plan proposes gradually lowering import duties, liberalising used car imports and permitting commercial imports of used vehicles. Industry stakeholders warn these measures could destabilise the local auto sector, erode foreign exchange reserves and widen the current account deficit. Under the proposed tariff rationalisation, duties on completely built-up (CBU) vehicles would be slashed to 15 per cent over five years, down from the current 20pc. Additional Customs Duty (ACD) and Regulatory Duty (RD) will be phased out, and the number of tariff slabs reduced from five to four. The government also plans to eliminate the fifth schedule and lower the maximum slab rate to 15pc. This sweeping overhaul of the trade regime is apparently aimed at fostering export-led growth, but the auto sector sees it ...

ICT Child Marriage Restraint Act, 2025 marks a pivotal step toward a safer, progressive Pakistan

'The irreparable harms I have suffered, and continue to suffer, are the result of the government’s actions against me'

Report identifies over 300m unorganised sector workers denied wages, contracts, leaves, safe conditions