Pakistan

The Federal Board of Revenue (FBR) has recorded a tax revenue shortfall of Rs429 billion during the July–February period of the current fiscal year, including an Rs85 billion gap in February alone, according to official documents.

Pakistan’s shortcomings were laid bare during their lacklustre T20 World Cup campaign which ended on Saturday when the team failed to reach the semi-finals. From the captain Salman Agha, who was criticised for not being a T20 player, to slow batting rates and the use of all-rounders not up to the job, the Green Shirts were shown to be behind the times in the rapid-fire format. Former wicketkeeper-batsman Kamran Akmal believes there is a huge gulf in standard between Pakistan and the top sides such as India, West Indies, South Africa and England. “Other teams have evolved to the demands of Twenty20 cricket, but neither our team nor our players meet those standards,” Akmal told AFP. “It is like other teams are playing on the moon and we are on earth. We only beat smaller teams but lose to top teams.” Pakistan had high hopes for the T20 World Cup after sweeping Australia 3-0 in a pre-tournament series. The team boasted a quintet of spinners that should have been suited to the turning pitches in Sri Lanka where t...

UNITED NATIONS: Pakistan struck a delicate balance at a tense UN Security Council meeting on Saturday, condemning unwarranted attacks on Iran, expressing solidarity with Gulf states, and urging an immediate return to negotiations and diplomacy. The Council’s emergency session examined the repercussions of the US and Israeli air strikes on Iran and laid bare the deep divisions within the 15-member body over the escalating crisis. Speaking at the meeting, Pakistan’s Permanent Representative, Ambassador Asim Iftikhar Ahmad, outlined Islamabad’s growing concern as the situation in the Middle East becomes more complex with each new development. “Pakistan condemns the initiation of unwarranted attacks against the Islamic Republic of Iran, in violation of international law,” the ambassador said. At the same time, he stressed that Pakistan also “condemns the attacks against the Kingdom of Saudi Arabia, Bahrain, Jordan, Kuwait, Qatar and the United Arab Emirates, and stands in solidarity with all these brotherly count...

The government has approved an increase in the loan limit under the revised features of the Mera Ghar Mera Aashiana (MGMA) mortgage financing scheme for low-cost housing, aimed at expanding access to affordable home ownership.

President Asif Ali Zardari has summoned a joint session of Parliament of Pakistan for tomorrow at 10:30 a.

On the international chessboard, no piece can move as freely as the United States. It moves vertically, horizontally and diagonally, across any number of squares. Regime change in Venezuela, blockades on Cuba, strikes on Iran, all within a few months. It can move north, east, south and west. And Iran? Iran is the opposing king trapped in a corner by not only the king and rook (Israel), but also its own pawns — the many factions inside Iran that the Israelis have been funding to rise up against it. A war against it from abroad and at home. In refusing to capitulate, the Iranians have decided they would rather die on their feet than be checkmated on their knees in front of their rivals. The opening gambit By the day prior to the strikes, the US had at least 50 per cent of its deployable air power around the Middle East poised to attack Iran, including more than 250 combat aircraft. As Professor Pape from the University of Chicago notes, the US had never deployed this much force against a potential enemy and not...

Airspace across 10 countries has been shut following the Iran–Israel war, disrupting thousands of flights and leaving hundreds of thousands of passengers stranded worldwide.

Prime Minister Shehbaz Sharif has cancelled his scheduled two-day visit to Russia due to the evolving security situation in the region, sources confirmed on Saturday.

Times for today’s Iftar (Ramazan 11) and tomorrow’s Sehri (Ramazan 12) for the federal and provincial capitals are listed below: Islamabad Fiqh-i-Hanafia Iftar (today) — 6:05pm Sehri (tomorrow) — 5:12am Fiqh-i-Jafria Iftar (today) — 6:15pm Sehri (tomorrow) — 5:02am Karachi Fiqh-i-Hanafia Iftar (today) — 6:35pm Sehri (tomorrow) — 5:35am Fiqh-i-Jafria Iftar (today) — 6:48pm Sehri (tomorrow) — 5:31am Lahore Fiqh-i-Hanafia Iftar (today) — 6:00pm Sehri (tomorrow) — 5:09am Fiqh-i-Jafria Iftar (today) — 6:10pm Sehri (tomorrow) — 4:59am Peshawar Fiqh-i-Hanafia Iftar (today) — 6:11pm Sehri (tomorrow) — 5:18am Fiqh-i-Jafria Iftar (today) — 6:21pm Sehri (tomorrow) — 5:08am Quetta Fiqh-i-Hanafia Iftar (today) — 6:32pm Sehri (tomorrow) — 5:38am Fiqh-i-Jafria Iftar (today) — 6:50pm Sehri (tomorrow) — 5:37am

The Government of Pakistan on Saturday announced an increase in petroleum prices, raising the rates of both petrol and high-speed diesel, according to an official notification.

The assassination of Ayatollah Ali Khamenei, Iran’s Supreme Leader and Marjai Taqleed for millions of Shia Muslims, in coordinated US-Israeli airstrikes marks a turning point not only for the Islamic Republic of Iran but for the wider West Asian region. His assassination removes a figure who for more than three decades stood at the apex of Iran’s political, military and religious order. Yet those expecting the immediate collapse of the Iranian system may be misreading both its structure and its history. Ayatollah Khamenei was not merely a head of state. As Supreme Leader, he exercised ultimate authority over foreign policy, the armed forces and the direction of the revolution. As Marjai Taqleed, a source of emulation in Shia jurisprudence, he embodied religious legitimacy that extended beyond Iran’s borders. His passing, therefore, creates a vacuum that is institutional as much as personal. Under Iran’s constitution, an interim council comprising President Masoud Pezeshkian, the judiciary chief, and a cleric ...

• Civil Defence official testifies power shutdown, closed exits and lack of emergency lighting hampered evacuation • Says building was inspected twice in 2024, 2025 and fire safety mesasures were found inadequate KARACHI: An official of Civil Defence has informed the Gul Plaza Judicial Commission that the fire and rescue service of the Karachi Metropolitan Corporation (KMC), as well as the Rescue 1122, were equipped with advanced machinery, but failed to douse the fire efficiently and rescue people trapped inside the burning building on Jan 17. He also deposed that premature shutdown of electricity, lack of emergency/backup lights and closure of gates had further exacerbated panic among people stuck in the ill-fated building and significantly impaired evacuation efforts. Mirza Mursaleen Baig, a technical instructor at the Civil Defence department, further testified that fire safety measures were found inadequate during an inspection of the building, but a challan could not be filed in court over non-complianc...

ISLAMABAD: The Federal Board of Revenue (FBR) missed its projected collection target by a staggering Rs429 billion during the first eight months of 2025-26. However, the collection recorded an 11 per cent increase to Rs8.121 trillion during July-February FY26, compared with Rs7.334tr raised in the same period last year, according to provisional figures released on Saturday. The FBR had set a revenue collection target of Rs8.550tr for 8MFY26. The revenue shortfall is primarily attributed to a slowdown in domestic sales tax collection, suspension of super tax and several other factors. The February collection grew by 12pc to Rs944bn from Rs844bn in the corresponding month last year. However, the collection fell short of the monthly target of Rs1.029tr by Rs85 bn. Records 11pc YoY rise to Rs8.121tr; income, sales tax collection falls The IMF, in its last review, has already revised down the FBR’s annual tax collection target by Rs150bn. In FY25, the FBR missed its collection target by nearly Rs163bn, even after ...

ISLAMABAD: As many as four in 10 Pakistanis believe the country is on the right track, with optimism higher among men, the upper-, lower- and middle-income classes, rural residents and people living in Punjab. Confidence in the country’s direction has increased more than threefold from 12pc to 40pc since the current government came to power, reaching its highest level soon after the Pakistan-India conflict. These findings are contained in the Consumer Confidence Index report for the first quarter of 2026. The survey was conducted by a market research company, Ipsos, which interviewed more than 1,000 people across the country. Although economic concerns rem­ain the most worrying, their intensity has fallen sha­rply across all indicators since the first quarter of 2024. The most pressing issues of inflation, poverty and unemployment have declined significantly over the past two years under the government. Asked about the current state of the economy, one in four Pakistanis said the economy was strong, with the ...

ISLAMABAD: There was no let-up in fighting between Pakistan and Afghanistan as the conflict entered its third day despite efforts by the international community to de-escalate the situation, which has claimed scores of lives since Thursday night. The clashes started after the Afghan Taliban targeted Pakistani positions along the border in response to earlier air strikes by Pakistan in multiple Afghan provinces to target the militants involved in cross-border attacks. Pakistan launched the operation ‘Ghazb lil Haq’ in response and took out military targets across Afghanistan. On Saturday, the armed forces continued ground and air operations against the Afghan Taliban overnight, striking formation headquarters in Nangarhar and other areas. The headquarters of the Afghan army in Kandahar and Nangarhar provinces were destroyed in targeted air strikes carried out by the armed forces, said security sources. State-run media reported that air strikes “hit two targets at the Mohmand Dara Base in Nangarhar” while Afgha...

LA PAZ : At least 22 people were killed when a Bolivian military cargo plane carrying banknotes crashed while landing near the capital city La Paz, police said Friday, as crowds attempted to loot the site. The aircraft, a C-130 Hercules transport plane — manufactured by Lockheed Martin — veered off the runway at El Alto Intern­ational Airport and crashed into an avenue, destroying multiple cars and damaging trucks, local media footage showed. Mangled parts of the aircraft were seen on the road where the plane came down and bystanders could be seen rushing to grab the scattered cash prompting police to deploy tear gas to repel the hordes. Authorities were later seen setting the money alight in a bonfire at the scene of the crash. It was not immediately known what caused the crash but witnesses told AFP that the weather had been treacherous. 28 injured as hospitals launch emergency blood donation drive The Ministry of Defence said it would launch an investigation into the crash. Colonel Rene Tambo, head of the ...

NEW DELHI: India inaugurated its first semiconductor assembly and test facility on Saturday, a milestone in the government’s push to reduce dependence on foreign chipmakers and stake a claim in a sector dominated by China. Prime Minister Narendra Modi opened US firm Micron Tech­n­o­logy’s Semiconductor Assembly, Test and Packaging unit in his home state of Gujarat, hailing the “dawn of a new era” for India’s technology ambitions. “When young Indians look back in the future, they will see this decade as the turning point in our tech future,” Modi told the event, which was broadcast on his official YouTube channel. The plant will convert advanced semiconductor wafers from Micron’s global network into finished memory and storage products. India’s semiconductor market has expanded from $38 billion in 2023 to an estimated $45-50bn in 2024-25, with government targets of up to $110bn by 2030. New Delhi is currently developing 10 chip projects worth more than $18bn , including two cutting-edge 3-nanometre des­ign fac...

• Airspace shut over Iran, Iraq, Israel, Kuwait, Bahrain, Qatar and Jordan • Emirates, Etihad, Qatar Airways, 24 other airlines ground flights ISLAMABAD: Pakistan Int­ernational Airlines (PIA) suspended flights to several Gulf countries on Saturday, joining a cascade of global carriers grounding aircraft across the Middle East after US and Israeli strikes on Iran plunged the region into a renewed military conflict and shut down major air corridors. According to a statement by the PIA spokesperson, flights have been suspended to the United Arab Emirates (UAE), Bahrain, Qatar, and Kuwait. “These flights will not operate until tomorrow evening or until the restoration of airspace, whichever comes later,” the spokesperson said. “PIA flights to Saudi Arabia will continue; however, their routes have been changed,” he added. “Flights have been shifted to Boeing 777 aircraft and will reach their destinations via longer routes,” the spokesperson added. The national carrier requested the travellers to contact the PIA c...

Iran’s Supreme Leader Ayatollah Ali Khamenei, who ruled he Islamic republic for over 30 years, has been killed in a an strike by US and Israel — the two countries that had been calling for a regime change in Tehran. Khamenei, 86, became Iran’s highest authority in 1989, following the death of the Islamic Republic’s founder, Ayatollah Ruhollah Khomeini. He remained in power after overcoming 1999 student demonstrations, 2009 mass protests sparked by disputed presidential elections and 2019 demonstrations that were brutally suppressed. He also survived the 2022-2023 “Woman, Life, Freedom” movement sparked by the death in custody of Iranian Kurdish woman Mahsa Amini, who had been arrested for allegedly violating the strict dress code for women. As supreme leader, he held ultimate control over Iran’s political, military and religious institutions, shaping domestic policy and guiding foreign relations. An article published in Al Jazeera said “critical to Khamenei’s power is the loyalty of two of Iran’s premier secu...

The United States and Israel launched strikes on Iran on Saturday, targeting its leadership and plunging the Middle East into a new conflict that President Donald Trump said would end a security threat and give Iranians a chance to topple their rulers. The strikes put nearby oil-producing Gulf Arab countries on edge as fears of escalation grew, and Tehran responded by launching missiles towards Israel. Here’s how the conflict could play out across world markets. Oil spike Oil is the main barometer of Middle East tension. Iran is a major producer and lies opposite the oil-rich Arabian Peninsula across the Strait of Hormuz, through which about 20 per cent of global oil supply passes. Conflict could limit oil entering the global market and push up prices. Brent crude traded on Friday around $73 a barrel, already up by a fifth this year. Some oil majors and top trading houses suspended crude oil and fuel shipments via the Strait of Hormuz because of the attacks, four trading sources said on Saturday. William Jack...