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Budget, Mideast peace deal to support FY27 growth, says Aurangzeb

June 15, 2026 5:34

Pakistan is poised to transition from macroeconomic stability to sustainable, export-driven growth in FY27, Finance Minister Muhammad Aurangzeb said on Monday, crediting the federal budget and a Pakistan-brokered US-Iran peace deal with improving the country’s economic outlook. Pakistan’s top leadership has successfully brought the over three months long Middle East conflict to an end. The resolution “presents us [with] a good upside in terms of the next fiscal year [FY27],” Senator Aurangzeb said while speaking virtually during Service Long March’s (SLM) listing at the Pakistan Stock Exchange (PSX). “The budget that was announced and presented on Friday has given a very clear direction for moving from macroeconomic stability towards sustainable and export-led growth.” Aurangzeb announced in his budget speech that his government had set the country’s economic growth target at 4% for FY27 compared to estimated 3.7% in the outgoing FY26. The country’s economy remained in a stabilisation phase over the past three years, as a six-decade high inflation reading recorded at 38% in May 2023 had badly impacted GDP growth in those inflationary years. The United States and Iran have reached a deal to end their war and will hold an official signing ceremony on Friday in Switzerland. “We have negotiated over the last three months of this [US-Iran] conflict - the first order impact [helping de-escalate geopolitical tension at first]. This [peace deal] announcement while you know as sort of, we move forward it should help us God willing in mitigating the second and the third order impact that was being feared previously.” Under the second and third order impacts, the country’s economy and the global economy were bound to face high inflation, further increase in cost of doing business, continued disruption in world trade and shipping and compromise growth, if the war was to prolong over a longer period, it was learnt. “It will take a little while for things to get normal. But it [peace deal] presents us a good upside in terms of next fiscal year.” The finance minister recalled the Service Long March - a joint venture between Chinese and Pakistani companies - was established during Covid-19. SLM made the second largest initial public offering (IPO), raising Rs7.78 billion equity at PSX recently. The company “is going to get to about $100 million mark of exports, God willing, next year [FY27],” he said. [...]

Indian central bank tightens rules to curb mis-selling by lenders, bans 'dark patterns'

June 15, 2026 3:20

MUMBAI: The Reserve Bank of India on Monday issued rules to curb mis-selling of financial products by lenders, banning deceptive marketing tactics and tightening norms around customer consent, disclosures and sales practices. The central bank has banned the use of “dark patterns” in digital interfaces, defining them as design or user-experience techniques that mislead or trick customers into taking actions they did not intend. Lenders and their agents will now be barred from employing such practices across websites, mobile apps and other sales channels, the RBI said. The directive follows announcements made by the RBI’s governor in the central bank’s monetary policy review in February. Lenders must subject their interfaces to periodic audits to identify and remove unfair features, the RBI said. Indian central bank likely intervenes to support rupee, conducts swaps, traders say The rules form part of amendments to the RBI’s responsible business conduct directions and will come into force from January 1, 2027. The regulator also laid out a broad definition of mis-selling, which includes practices such as offering products that are unsuitable for the customer, providing misleading or inaccurate information, selling products without obtaining explicit consent from the customer, and mandatorily bundling products together. “In cases where mis-selling of a financial product/service is established, the bank shall refund the entire amount … and also intimate the customer about cancellation of the sale,” the RBI said. Banks must obtain clear and informed consent from customers before selling any product, the central bank said. The consent must be recorded and cannot be assumed or pre-selected. The central bank also prohibited lenders from forcing customers into buying additional products, a practice known as bundling, unless offered or without additional cost. Among other curbs, banks cannot fund the purchase of financial products from loan proceeds without explicit approval, the RBI said. Lenders must also disclose key product features, risks, fees and exit terms upfront and design simple ways for customers to opt out of marketing communication, the central bank said in its directives. [...]

India posts balance of payments deficit in April on foreign portfolio outflows

June 15, 2026 2:40

BANGALORE: India’s balance of payments fell into deficit in April, driven by capital outflows, even as the current account swung to a surplus, according to preliminary data released by the country’s central bank on Monday. The Reserve Bank of India, which until now released BoP data on a quarterly basis, said it would now publish the figures monthly, with a delay of 45 days or less. Here are some details from the April data: India’s overall balance of payments recorded a deficit of $6.6 billion in April this year compared with a surplus of $500 million in the year-ago period. Current account balance swung to a surplus of $4.7 billion for the month from a deficit of $4.8 billion in April 2025. Net transfers, which include remittances from Indian workers overseas, jumped to $16 billion compared with $9.4 billion a year ago. India’s May trade gap narrows as exports rise; U.S. trade talks in focus However, the capital account, which includes foreign portfolio investments, saw an outflow of $11.3 billion in April 2026 compared with an inflow of $5.3 billion in the same month last year. Net foreign direct investment during the month stood at $7.4 billion from $1.6 billion a year ago. Last week, India reported a surprise surplus in current account and overall balance of payments for the January-March quarter of fiscal 2026 on strong earnings from the services sector, an increase in worker remittances and forex swaps conducted by the central bank. India’s balance of payments deficit was expected to widen in the current financial year as the country’s energy import bill surged, with the Iran war driving up crude oil prices. However, the RBI’s move to draw dollars from non-resident Indians via a subsidised swap scheme is seen improving this balance, with some economists now expecting a BoP surplus in the 2026-27 fiscal year. [...]

India's HCLTech to buy 10.5% stake in Sarvam AI, valuing startup at $1.5 billion

June 15, 2026 1:54

India’s HCLTech said on Monday it will acquire a 10.5% stake in domestic generative AI startup Sarvam AI for 14.27 billion rupees ($150.7 million) in cash, leading the firm’s Series B round as a strategic investor. Sarvam was valued at $1.5 billion in the round, which raised $234 million in its first close out of a targeted $300 million, the startup said. HCLTech said it will acquire 41,421 equity shares in the startup and fund its research and development aimed at training next-generation models for agentic AI, coding and cybersecurity use cases. India’s HCLTech beats quarterly revenue view on banking, technology boost The investment will allow the Indian IT services company to develop specific language models and AI solutions for its global client base, and accelerate the development of sovereign AI solutions for governments and regulated industries, HCLTech added. The round was co-led by Bessemer Venture Partners, with continued participation from existing investors Khosla Ventures and Peak XV Partners, Sarvam said. In 2024, Microsoft partnered with the Indian startup to support voice-based generative AI applications, without disclosing financial details. [...]

India's DSP MF favours 5-year, long-tenor bonds over 10-year paper, executive says

June 15, 2026 1:46

MUMBAI: India’s DSP Mutual Fund plans to shift to a “buy-on-dips” approach, favouring five-year and longer-duration government securities, while avoiding adding much of the 10-year benchmark bond due to weak demand, a senior executive said on Monday. “For mutual funds, I would like a barbell strategy of five-year and long bonds,” Sandeep Yadav, head of fixed income at DSP Mutual Fund, told Reuters’ Trading India forum. A barbell strategy is an investment strategy in which the portfolio is concentrated at two opposite ends of a maturity or return spectrum, while largely avoiding the middle. The fund house, which manages debt worth around 690 billion rupees ($7.28 billion), believes that the market has shifted to a buy-on-dips approach from a sell-on-rally strategy in recent months. Indian bond yields have eased, led by the shorter end of the yield curve, after the central bank held key policy rates and announced measures to attract dollar inflows on June 5. Oil slide sends India’s benchmark yield to two-month low The spread between the five-year and 10-year bond yields has doubled to 40 basis points in the last few sessions, reflecting stronger demand at the shorter end. Yadav said the Reserve Bank of India has been the biggest buyer of the 10-year bond over the last two years, and may scale back purchases amid firm foreign exchange inflows, making the risk-reward unfavourable. The fund manager does not expect the RBI to hike rates in 2026, and said any action next year would depend more on economic growth than on temporary inflation spike. “I believe a large part of inflation risk is recency bias, and we have seen such low inflation that a risk of 5.5%+ for a few months sounds very high - but it is still within RBI’s range,” Yadav said. In the immediate term, Yadav prefers corporate bonds for their higher yields, and may revert to government securities from July-August as their potential inclusion in the Bloomberg Global Aggregate Index could attract inflows. [...]

Healthcare, basic materials stocks lift Sri Lankan shares

June 15, 2026 1:19

Sri Lankan shares closed higher, boosted by healthcare and basic materials stocks. The CSE All-Share index settled 3.43% higher at 22,380.65 points. SMB Finance PLC and Softlogic Capital PLC were the top percentage gainers on the index, up 25% and 19.35%, respectively, on the day. Trading volume on the index rose to 205.58 million shares from 83.8 million shares in the previous session. The equity market’s turnover rose to 4 billion Sri Lankan rupees ($12.01 million) from 1.99 billion rupees in the previous session, according to exchange data. Foreign investors were net buyers, purchasing stocks worth 77.35 million rupees, while domestic investors were net sellers, offloading shares worth 3.95 billion rupees, the data showed. [...]

Aluminium falls to lowest since late March on Iran deal

June 15, 2026 1:14

LONDON: Aluminium prices fell to their lowest level in two-and-a-half months on Monday as a U.S.-Iran framework agreement to end their war improved prospects for deliveries from Gulf producers, even though shippers were still cautious on transit through the Strait of Hormuz. The benchmark three-month aluminium on the London Metal Exchange was down 3.0% at $3,430 a metric ton in official open-outcry trading, having hit $3,408, its lowest since March 30. U.S. and Iranian officials said they had reached an agreement to end their war and reopen the Strait of Hormuz, a preliminary pact that sent oil prices falling but leaves the fate of Tehran’s nuclear program to further negotiations. The memorandum of understanding is scheduled to be officially signed on Friday in Switzerland. The reopening of the Strait of Hormuz, where shipping has been largely suspended since the end of February, would improve prospects for aluminium exports from the Gulf region. Copper rebounds on optimism over US-Iran peace deal Producers in the region, typically accounting for around 9% of global supply, use the crucial waterway to ship their metal to global markets and import raw materials. Shippers said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild and navigation would only restart once safety is assured. The selloff in aluminium was also caused by the break below the 50-day moving average, a key technical level currently at $3,575, last week, said Alastair Munro, senior base metals strategist at broker Marex. The next level of support is provided by the 100-day moving average at $3,396. Ahead of the expiry of contracts on Wednesday, the discount for the LME cash aluminium contract against the three-month benchmark was last at $21 a ton, compared with a premium of $105 two weeks ago. In other LME metals, copper rose 0.4% to $13,748 a ton in official activity, after hitting $13,893.50, the highest level since June 5, as a fall in oil prices eased energy-driven inflation fears and weakened the dollar. LME zinc fell 0.1% to $3,580, lead rose 0.4% to $1,973, tin gained 2.1% to $54,875, while nickel added 0.8% to $17,975. [...]

Oil slide sends India's benchmark yield to two-month low

June 15, 2026 12:52

MUMBAI: Indian government bonds joined a global debt rally on Monday, pushing the benchmark yield to a two-month low, after the U.S. and Iran declared a preliminary peace deal, knocking oil prices to multi-month lows. While Washington and Tehran will sign the deal on Friday, they have agreed to halt the war and reopen the Strait of Hormuz, which carries a fifth of global oil supplies. Brent crude futures fell over 5% to $82.80 per barrel in Asian trade, levels last seen on March 10. It is now about $10 above pre-war levels. The 10-year U.S. yield retreated to a one-month low in Asian trade and that of Germany’s, the euro zone benchmark, slid to a two-week low. The yield on the Indian benchmark 6.94% 2036 note dropped 2.5 basis points to settle at 6.8704%, its lowest since April 15. Elevated crude prices have posed a key risk to India’s public finances, pressuring assets in the world’s third-largest oil importer. The 10-year yield is now 20 basis points above pre-war levels, down from a peak of 48 bps. The rupee’s year-to-date decline also narrowed to 5.6%. The slump in oil prices will help the Reserve Bank of India’s efforts to channel billions of dollars into debt, helping secure foreign inflows to cover India’s import bill and support the rupee. Foreign investors have poured nearly $1.6 billion into Indian bonds over the past six sessions. “From a technical standpoint, we expect yields to ease further towards the 6.75–6.80% range in the near term, supported by improved sentiment and a pickup in FPI inflows into government bonds,” said Dhawal Dalal, president and fixed income CIO at Edelweiss Mutual Fund. The market will wait for tangible improvements in energy and fertilizer supplies, which could influence the inflation trajectory, he said. India’s wholesale price inflation rose to 9.68% year-on-year in May, versus 8.26% in April. Rates India’s overnight index swap rates slipped further on a sentiment boost from easing oil prices. The one-year swap rate dropped 4.25 bps to 5.9250% and the two-year rate fell 4.5 bps to 6.08%. The five-year rate pared 3.25 bps to 6.3150%. [...]

India's soybean imports jump to record in May on strong buying from Africa

June 15, 2026 12:51

MUMBAI: India’s soybean imports surged 65% in May from the previous month to a record high, an industry body said on Monday, as domestic prices climbed to their highest level in four years, prompting traders to source supplies from African countries. The imports are enabling African exporters to sell soybeans at a hefty premium to global benchmark prices. Higher arrivals could ease domestic soybean and soymeal prices, benefiting India’s poultry industry, the largest consumer of soymeal. Soymeal, a widely used livestock feed ingredient, is produced when soybeans are crushed for oil extraction. India imported 200,000 metric tons of soybeans in May, up from 121,000 tons in April and none a year earlier, the Soybean Processors Association of India (SOPA) said in a statement. India cancels soymeal export deals, turns to African soybean imports, sources say The surge prompted SOPA to raise its soybean import forecast for the marketing year ending September 2026 to 900,000 tons from 600,000 tons previously. India imported about 2,000 tons in the previous marketing year, SOPA data showed. India permits imports only of non-genetically modified soybeans, restricting supplies to a handful of African nations - including Benin, Niger, Togo and Nigeria - where non-GM beans command a steep premium over genetically modified varieties. Reuters reported last month that Indian traders had cancelled soymeal export contracts for the first time since 2021 and turned to soybean imports from African countries after soaring domestic prices reversed traditional trade flows. [...]

Indian shares climb on Gulf peace deal tracking global rally

June 15, 2026 12:30

Indian shares closed higher on Monday, tracking a global rally, as oil prices tumbled after the U.S. and Iran said they had reached an initial agreement to end the war and resume traffic through the Strait of Hormuz. The two will sign a memorandum of understanding in Switzerland on Friday, said Pakistani Prime Minister Shehbaz Sharif, whose country served as a mediator in the negotiations. “Now that the Iran war appears to be nearing an end, investors have a significant source of comfort,” said Gaurav Bhandari, chief executive officer at Monarch Networth Capital. The benchmark Nifty 50 rose 0.98% to 23,853.90, while the BSE Sensex added 0.97% to 76,264.33, gaining about 3% and 3.3%, respectively, in two sessions. “Indian equities, in particular, could be set for a strong four-to-six months, provided monsoon risks recede,” said Gaurav Bhandari, who expects the benchmark Nifty 50 to reach the 27,000-28,000 range by year-end. The index has lost 8.7% year-to-date. India’s 10-year bond yield fell and the rupee gained 0.41% to 94.71 per dollar. “With the RBI’s recent measures helping stabilise the rupee, inflation remaining under control, the record $30 billion in foreign outflows in 2026 so far could start to reverse,” Monarch’s Bhandari said. Fourteen of the 16 major sectors advanced. The broader small-caps and mid-caps rose 1.1% and 1.3%, respectively. Infrastructure major Larsen & Toubro, which has significant revenue exposure to the Middle East, gained 3%. Asian markets jumped 2.7%, while Brent crude dropped 5.2% to about $82.8 a barrel, its lowest level since March. Lower oil prices are a positive for India, the world’s third-largest oil importer, as they help ease pressure on inflation, the rupee and the country’s trade deficit. Oil-sensitive stocks rallied, with refiners BPCL, HPCL and Indian Oil, cement makers UltraTech Cement, Ambuja Cements and ACC, tyre firms MRF, CEAT and JK Tyre, and airline IndiGo all advancing. Aurobindo Pharma fell 4.7% after the U.S. drug regulator flagged serious concerns at its unit’s facility in Telangana. [...]

Palm oil falls on weaker rival oils, crude

June 15, 2026 12:02

JAKARTA: Malaysian palm oil futures fell on Monday, tracking rival vegetable oils in both Chicago and Dalian markets, with crude oil prices also weighing on sentiment. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange dropped 25 ringgit or 0.56% at 4,450 ringgit ($1,099.31) a metric ton at the close. “The futures were seen trading sideways after opening gap lower following a selloff in energy prices, Chicago soyoil and Chinese vegetable oil futures in today’s Asian hours,” Anilkumar Bagani, head of research at Mumbai-based vegetable oil broker Sunvin Group. Dalian’s most-active soyoil contract fell 0.29%, while its palm oil contract shed 1.34%. Soyoil prices on the Chicago Board of Trade were down 1.76%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market. According to independent inspection company AmSpec Agri Malaysia, exports of Malaysian palm oil products for June 1 – 15 period rose 23.8% while according to cargo surveyor Intertek Testing Services, it rose 9.6%. Oil prices slipped to a 3-month low on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. Malaysia has lowered its July crude palm oil reference price to a level that maintains the export duty at 10%, a circular on the Malaysian Palm Oil Board website showed on Monday. India’s palm oil imports edged up in May, rebounding from a four-month low, but remained below normal levels as refiners increased purchases of cheaper soyoil after palm oil’s price advantage narrowed, a leading industry body said on Friday. [...]

Indian rupee hits five-week high after oil plunges; traders eye further rally

June 15, 2026 11:54

MUMBAI: The Indian rupee rose against the U.S. dollar for a second straight session on Monday, as oil prices plunged following the U.S.-Iran preliminary agreement to end their conflict and reopen the crucial Strait of Hormuz. The announcement added to the strength that the currency built after the Reserve Bank of India’s measures to attract dollars into the economy on June 5, when the central bank did not move on rates or change its “neutral” stance. On Monday, the local currency ended 0.4% higher at 94.71 against the previous session’s 95.11 close. During the day’s session, the rupee touched 94.4625, its highest level in five weeks. The currency’s year-to-date decline has narrowed to 5.6%. It struck a record low of nearly 97 per dollar last month. The currency may be entering a more supportive near-term phase with lower oil prices, and as the central bank’s steps will start attracting dollar inflows, traders said. “The news of war ending is a positive development for the currency, but we may not see a one-way rally and the currency could move towards 93.25 in the near term,” said Victor Roy, head of treasury at CTBC Bank. The benchmark Brent crude dropped more than 5% to around $83 per barrel on Monday, a positive for India, which imports nearly 90% of its oil requirements. Economists have upgraded their forecasts for India’s balance of payments after the RBI’s measures, with most now expecting a small surplus, compared with earlier projections of a large deficit. The extent of the rupee’s rally will depend on the comfort of the central bank, which may be keen to use the strength to pare its large FX forward book, they added. The RBI’s short dollar positions in the FX market ballooned to a record high of $104 billion in March, highlighting its efforts to defend the rupee. [...]

Thai baht/US dollar stronger on Monday

June 15, 2026 8:57

BANGKOK: The Thai baht strengthened against the US dollar on Monday. At 0157 GMT, the baht was 0.43% higher at 32.55 versus the dollar, after trading in a range of 32.550 to 32.610. It ended the previous session at 32.69 per dollar, as per LSEG data. [...]

UniCredit rejects Commerzbank claims that take-up is lower than seems

June 15, 2026 8:44

MILAN: Italian bank UniCredit on Monday dismissed as groundless suggestions by Commerzbank that the real take-up in its exchange offer to take over the German lender is lower than data show. UniCredit said it was “compelled to clarify its position to set the record straight” because of “the continued and relentless dissemination of inaccurate and misleading information” which was interfering with the offer process and “encouraging regulatory and legal investigations to disrupt the integrity of the offer.” It added in a statement that it would consider “the most appropriate action to protect its interests.” “Suggestions that the actual number of tendered shares is lower because these shares have been borrowed from UniCredit are false and without foundation,” it said. [...]

Gold per tola gains Rs10,800 in Pakistan

June 15, 2026 8:44

Gold prices in Pakistan increased on Monday in line with their gain in the international market. In the local market, gold price per tola reached Rs455,136 after a gain of Rs10,800 during the day. Similarly, 10-gram gold was sold at Rs389,600 after it increased by Rs9,720, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold price per tola reached Rs444,336 after a gain of Rs4,370 during the day. The international rate of gold was up by $108 to reach $4,327 per ounce (with a premium of $20). Meanwhile, the price of silver increased by Rs230 to reach Rs7,509 per tola. [...]

SBP holds key policy rate at 11.5pc

June 16, 2026 12:02

KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has decided to maintain the policy rate at 11.5 percent, stating that the current monetary stance remains appropriate to steer inflation towards the medium-term target range of 5 to 7 percent. The MPC in its meeting held on Monday at the SBP head office, reviewed the economic indicators and finally keep the policy rate unchanged. The committee also reiterated that it is imperative to accelerate structural reforms to strengthen the economy’s resilience to supply shocks, enhance productivity, and create the necessary conditions for higher and more sustainable economic growth. READ MORE: Policy rate hiked 1pc on ME conflict The Committee noted that global oil prices have eased following the recent positive geopolitical developments, yet they remain elevated as compared to pre-conflict levels, however, the impact of the conflict is now reflecting in recent economic indicators as headline inflation rose to double digits in April and May, while core inflation also edged up. In addition, economic activity is showing some signs of moderation, reflecting the impact of elevated prices, austerity measures and prevalent economic uncertainty. Meanwhile, the external account pressures remain moderate. While evaluating the impact of these unfolding developments and risks, the MPC observed that the macroeconomic outlook is broadly unchanged from its previous meeting. In this context, the MPC assessed that the current monetary policy stance remains appropriate to guide inflation towards the target range of 57 percent over the medium term. The MPC noted that proactive macroeconomic management, underpinned by forward-looking monetary policy and consistent fiscal consolidation, has helped sustain ongoing macroeconomic stability despite the prolonged Middle East conflict. The MPC remains committed to achieving its objective of price stability and will closely monitor incoming data and evolving developments. The Committee noted several key developments since its last meeting, including provisional FY26 GDP growth of 3.7 percent, a modest recovery in consumer and business confidence alongside easing inflation expectations, and an increase in SBP reserves to USD17.2 billion following IMF programme progress. It also highlighted a projected fiscal primary surplus of 2.5 percent of GDP for FY26, with a 2.0 percent target for FY27, while warning that the Middle East conflict is beginning to weigh on global macroeconomic conditions and prompting tighter monetary policy in several economies. According to the provisional PBS estimates, real GDP grew by 3.7 percent in FY26, which outturn reflects the impact of Middle East conflict and austerity measures, as the pre-conflict growth momentum was notably higher. Looking ahead, the MPC expects that spillover from the conflict may continue to moderate activity in both industry and services sectors in the coming months. This, along with subdued agriculture prospects as indicated by initial information on the Kharif crops amidst challenging weather conditions, may weigh on the growth outlook for FY27. The current account posted a deficit of USD 0.2 billion during July-April FY26 mainly due to a widening of the trade deficit amidst the surge in energy imports in April, which more than offset the resilient workers’ remittances. The realization of sizable workers’ remittances during May is likely to contain the current account deficit in FY26 to the lower end of the earlier projected range, despite the challenging external environment. On the financing side, increase in official inflows provided critical support in meeting external obligations. These developments have facilitated ongoing FX purchases and buildup in SBP’s FX reserves, which are projected to reach $18 billion by end-June 2026. Notwithstanding some expected widening in the current account deficit in FY27, the MPC noted that the reserve buildup is expected to continue amidst FX purchases and timely realization of planned official inflows. As per the July-March FY26 fiscal operations data, the fiscal consolidation efforts remained broadly on track, primarily driven by expenditure restraint. Revenue growth, however, moderated as compared to the same period last year. In this context, the FBR has revised its target to around Rs13 trillion for FY26. Despite this downward revision in revenues, the government expects to achieve a primary balance surplus of 2.5 percent of GDP by containing expenditures. For FY27, the government is targeting a primary balance surplus of 2.0 percent of GDP. In this regard, the MPC emphasized the importance of continuing with fiscal consolidation. The Committee also reiterated the need for timely implementation of structural reforms, particularly measures aimed at broadening the tax base and reforming PSEs. Since the last MPC meeting, broad money (M2) growth moderated to 14.3 percent y/y as of May 29, 2026, from 14.5 percent on April 10, 2026 due to a deceleration in NDA growth, reflecting moderation in net budgetary borrowing from the banking system. Meanwhile, private sector credit grew by around 13 percent, with increase in working capital, fixed investment and consumer financing. At the same time, the improvement in the external position led to an acceleration in NFA growth. Copyright Business Recorder, 2026 [...]

Oil falls USD4 to three-month low

June 15, 2026 11:50

HOUSTON: Oil prices settled down USD4 a barrel to a three-month low on Monday after President Donald Trump said the United States and Iran have signed a memorandum of understanding aiming to end the Iran war and reopen the Strait of Hormuz. Brent crude futures settled down USD4.16, or 4.76 percent, to USD83.17 a barrel and US West Texas Intermediate settled at USD80.75, down USD4.13, or 4.87 percent. Both contracts erased a chunk of the war-risk premium they had accumulated over the last few months, with Brent and US crude futures closing at their lowest levels since March 4. READ MORE: Oil falls 5% to three-month low as US, Iran reach peace deal to reopen Strait of Hormuz The memorandum of understanding has been signed by Trump and Vice President JD Vance and Iranian parliament Speaker Mohammad Bagher Qalibaf, one US official said. An official signing ceremony for the agreement is due to be held on Friday in Geneva. Iran’s semi-official Mehr news agency said the draft deal called for reopening the Strait of Hormuz within 30 days under Iranian arrangements. “With a wall of oil supply very possibly on the way, the selloff looks justified,” said Dennis Kissler, senior vice president of trading at Bok Financial. Iran lowered the official selling price for its light crude oil grade for Asian buyers to USD7.15 a barrel above the Oman/Dubai average for July, the state-owned National Iranian Oil Company said on Monday, compared with the previous month’s premium of USD13 a barrel. Citi on Monday cut its average Brent crude forecasts to USD75 and USD70 per barrel for the third and fourth quarters of 2026, respectively, citing expectations that the Strait of Hormuz trade flows will resume and normalize. The world has lost millions of barrels of oil and gas supply since the war closed the Strait of Hormuz, a chokepoint for a fifth of the world’s oil and liquefied natural gas supplies, for more than three months. It is unclear how quickly those barrels will return to market once the waterway is opened. “Getting the vessel supply chain in place and the restarts all running smoothly within the Arab Gulf will be tough. And some vessel owners will be hesitant to ballast towards the Arab Gulf until we hear from insurers,” said Neil Crosby, head of research at Sparta Commodities. Investors are also watching cautiously how quickly Middle Eastern producers can resume oil production and exports following damage from the war, and whether more ships will enter the region. More than 14 million barrels per day of oil output is shut, or about 14% of world demand, according to the International Energy Agency’s most recent report. A full return to pre-war production and refining levels is likely to take weeks, months or even years, industry officials say. Lower oil inventory levels, a slower process to restart production and the refilling of strategic oil inventories should support oil prices in the longer term, UBS analyst Giovanni Staunovo said. Stockpiles in the world’s largest economies are headed toward their lowest levels since at least 2003, squeezed at a record pace due to the lost Gulf output, according to the US Energy Information Administration. Stocks of crude oil in the US Strategic Petroleum Reserve fell to 340.3 million barrels, the lowest level since 1983, according to data from the Department of Energy on Monday. [...]

Telecom firms asked to justify lower tax revenue impact

June 15, 2026 11:12

ISLAMABAD: The Senate Standing Committee on Finance and Revenue asked the Telecom Operators’ Association (TOA) to provide written justification for its claim that reducing the advance tax on telecom services from 15 percent to 8 percent would lead to an increase in government revenue. The Committee met under the chairmanship of Saleem Mandviwalla. The Association proposed a cut in the WHT rate from 6 percent to 4 percent and a carry-forward of turnover tax from 2 years to 5 years to let the industry flourish. The increase in WHT from 4 percent to 6 percent has significantly raised the cash flow issues for operators. Further, due to low average revenue per user in Pakistan, the payback period of the telecom sector is very low. So limiting the credit to 2 years is not suitable for loss-making companies. Resultantly, this tax has increased the tax cost of telecom operators. They further proposed the reduction of advance income tax on mobile usage. They said that lower taxes will make the services more affordable and improve mobile penetration, which will result in more tax collection and digitisation. The committee, which was also backed by the Finance Minister, sought an explanation in writing from the operators. TOA acknowledged the government’s efforts to maintain macroeconomic stability while supporting Pakistan’s long-term development priorities. The association believes the budget contains several positive measures that reflect the government’s continued recognition of the importance of digital connectivity and the digital economy. However, the association noted that its longstanding request to reduce the tax burden on mobile consumers remains unaddressed. Mobile users continue to face a 19.5 percent General Sales Tax (GST) and a 15 percent advance withholding tax on telecom services, making connectivity less affordable for millions of Pakistanis. With approximately 206 million mobile subscribers but only 7.7 million active taxpayers in the country, the vast majority of consumers is below the taxable income threshold and therefore has no practical mechanism to recover the 15 percent advance withholding tax deducted from their mobile usage. TOA particularly appreciates measures that support investment, affordability, and digital adoption. These include the government’s indication to reduce customs duties on raw materials for local production of handsets, subject to enactment through the Finance Bill, which would improve device affordability and accelerate connectivity. The association also welcomes the rationalisation of the super tax, which will help strengthen the investment environment and support growth across Pakistan’s digital economy. Building on these positive steps, TOA remains optimistic that additional reforms proposed by the industry can also be considered as part of the government’s broader digital transformation agenda. These proposals include rationalising advance and withholding taxes applicable to telecom services and mobile users, which would further improve affordability, expand digital adoption, and encourage greater investment across the sector. TOA also hopes that ongoing policy discussions will consider additional measures to support broadband expansion and long-term digital infrastructure investment. These include rationalising duties on optical fiber infrastructure, which is essential for expanding broadband networks, accelerating fiber deployment, and preparing Pakistan for future connectivity requirements. The Association also looks forward to continued progress on reforms that enhance tax certainty, reduce administrative discretion, and further improve the ease of doing business, helping create an even stronger environment for investment and growth. TOA stressed that such reforms are particularly important given telecom’s role as the foundation layer of Pakistan’s digital economy. Reliable and affordable mobile connectivity supports financial inclusion, education, healthcare, e-commerce, agriculture, manufacturing, and public service delivery, while providing the infrastructure upon which emerging technologies and digital services are built. Sustained investment in telecom infrastructure is therefore essential not only for sectoral growth but also for the country’s broader economic competitiveness and digital future. Kamal Ahmed, Secretary General, TOA, said: “Telecom is an enabling industry that powers digital transformation across the entire economy. Policies that improve affordability, encourage investment, and accelerate infrastructure deployment generate benefits far beyond the sector itself, supporting productivity, innovation, financial inclusion, and economic growth. We welcome the positive measures introduced by the government and are encouraged by the direction reflected in the budget. We remain hopeful that the government will also consider the additional reforms proposed by the industry, which can further accelerate digital adoption, investment, and Pakistan’s broader digital growth agenda.” Copyright Business Recorder, 2026 [...]

Stakeholders demand end to export tax on tobacco

June 15, 2026 11:12

ISLAMABAD: Tobacco growers, traders and industry representatives on Monday demanded the immediate withdrawal of Rs390 per kilogram export tax on tobacco and called for a comprehensive review of the sector’s taxation policy, warning that current measures are pushing farmers into severe financial distress. Speaking at a press conference, the group – joined by senior PTI leaders Asad Qaiser, Shahram Tarakai and others – said the issue was not political but an economic one affecting thousands of farming families, particularly in Swabi, which produces over 70 percent of the country’s tobacco crop. Qaiser said he had no business interest in the tobacco trade but felt compelled to speak for farmers facing “extreme hardship.” He criticised the taxation regime, arguing it had failed to achieve its fiscal objectives. According to him, government revenue from the sector had declined from Rs294 billion to Rs165 billion after higher taxes were imposed, calling the policy ineffective. He further argued that excessive taxation was harming growers and local dealers while strengthening monopolistic market structures. He warned that he, along with lawmaker Shahram Tarakai and other political leaders from Khyber Pakhtunkhwa, would pursue the matter through legal forums if required. While condemning tobacco smuggling, he said enforcement responsibility lay with federal and provincial authorities and called for more practical anti-smuggling measures. Tarakai said he had repeatedly raised proposals with the government but claimed tobacco growers and the domestic industry were still facing “discriminatory” policies. He called for a balanced taxation system in which small businesses are taxed less and large corporations more, arguing current policy contradicted this principle. He also alleged that two multinational companies had gained dominant control of the sector. Referring to his time in government, he said he had previously proposed Rs10 per unit tobacco levy to improve balance in the industry. He urged authorities to reduce the tax burden and adopt “national interest” policies, saying political representatives across parties were aligned on the issue. Industry representative Ayaz Khan said growers were suffering declining returns despite inflation. He claimed tobacco prices had dropped, with the current crop being purchased at rates around Rs180 per kilogram lower than last year. He also alleged that local companies were being sidelined as multinational firms expanded their market share, resulting in cancelled domestic agreements. He criticised the Pakistan Tobacco Board for weak regulatory enforcement, saying uncertainty was affecting both farmers and buyers. He added that although tobacco exports had increased by 645 percent, government policies were still discouraging exports and weakening competitiveness. He stressed that growers were not opposing taxation on cigarettes, but objected to measures they believed were harming farmers and export potential. Participants also opposed a proposed minimum indicative price (MIP) of Rs525 per kilogram for Virginia tobacco in the 2026-27 budget, urging instead that prices reflect production costs, inflation, and farmer incomes. They called on multinational companies to increase procurement of local tobacco to stabilise the market and ensure fair pricing. They also demanded a third tier in the tobacco taxation structure to support domestic industry, restoration of suspended contracts, and immediate clearance of outstanding payments to growers and dealers. The group urged the Federal Board of Revenue (FBR) to halt what they described as unnecessary raids and interference in business operations, and called on provincial and district authorities to avoid targeting warehouses and traders. Copyright Business Recorder, 2026 [...]

PSW, NTC ink real-time data sharing pact

June 15, 2026 11:12

ISLAMABAD: Pakistan Single Window (PSW) and National Tariff Commission (NTC) signed an agreement for real-time data sharing and integrating tariff functions with the PSW digital landscape and Federal Board of Revenue’s customs department. According to the details released by the PSW here on Monday, the ‘Agreement for Automation and Digitization’ of NTC’s Processes was signed by Dr. Jawwad Uwais Agha, Chairman NTC and Syed Aftab Haider, Chief Executive Officer PSW. At the occasion the Jam Kamal Khan, Federal Minister for Commerce, appreciated the recent achievements of the National Tariff Commission in moving speedily towards achieving its transformation. Stressing that Digitalization was a catalyst for the NTC’s reform, he emphasized that, “A robust, digitalized NTC is essential for supporting a high-growth economy and ensuring that Pakistan’s trade defense mechanisms are aligned with global best practices.” Dr. Muhammad Saeed, Technical Advisor to the Prime Minister, Mr. Jawad Paul, Secretary Ministry of Commerce and Syed Shakeel Shah, Head of Customs Administration/Member Customs Operations FBR, and other senior functionaries of the NTC & PSW also attended the ceremony. The Automation and Digitization aim to enhance cooperation in the areas of data sharing, automation & digitization of NTC’s processes for tariff & trade policy analysis, tariff rationalization, reduction in dwell-time for trade remedial actions such as anti-dumping duties, countervailing duties and safeguard measures etc. Speaking on the occasion, the Chairman NTC stated that, “Today’s signing is not merely about new software; it is about institutional evolution. Digitalization will reduce our case dwell times, sharpen investigative precision, and create a transparent, predictable trade regime through our Tariff Policy Centre that strengthens the competitiveness of Pakistan’s trading environment.” The CEO of PSW welcomed the collaboration and remarked that, “By integrating NTC’s critical tariff functions into the PSW digital landscape, we are creating stronger institutional linkages and fueling NTC’s transformation with real-time, shared trade data.” The signing of this agreement reflects the shared commitment of both organizations promoting transparent, predictable and growth oriented trade and tariff regimes to support and enhance competitiveness of the domestic industries. Copyright Business Recorder, 2026 [...]

PRAC welcomes targeted relief measures

June 15, 2026 11:12

KARACHI: The Policy Research and Advisory Council (PRAC) has acknowledged several progressive measures in the Federal Budget for Fiscal Year 2026-27, while raising critical concerns regarding fiscal sustainability, stagnant development spending, and the mounting debt servicing burden threatening Pakistan’s economic outlook. PRAC Chairman Mohammad Younus Dagha welcomed the elimination of Super Tax across several slabs for businesses earning between PKR 150 million and PKR 500 million, with the maximum rate capped at 8 percent for higher income tiers, noting that this would enhance liquidity and support investment. He similarly commended the reduction in combined advance and minimum income tax on export revenues from 2.0 percent to 1.25 percent, alongside the extension of the concessional Export Refinance Scheme at 4.5 percent, backed by PKR 88 billion — a timely intervention to ease working capital pressures and sustain export competitiveness amid elevated financing costs. Mohammad Younus Dagha also welcomed the extension of the 0.25 percent Final Tax Regime for IT and digital exporters through June 30, 2029, describing it as an important signal of policy continuity for Pakistan’s expanding digital economy, and acknowledged the budget’s emphasis on digital payments, financial inclusion, targeted farmer financing, climate-resilient housing, and green mobility, provided these initiatives are implemented transparently with measurable outcomes. Despite these positives, PRAC expressed concern over the limited relief extended to the salaried class. While selective tax rate reductions and abolition of the 9 percent surcharge are welcome, the minimum taxable threshold remains unchanged at PKR 600,000. Against renewed inflationary pressures, rising utility costs, and a projected 12 percent increase in Petroleum Development Levy collections to PKR 1.68 trillion, lower-income salaried workers may face additional burden through higher transport and essential commodity costs — despite already belonging to the documented taxpayer base. PRAC’s most serious reservations concern the budget’s failure to address Pakistan’s core fiscal vulnerabilities. Debt servicing obligations budgeted at PKR 8,054 billion constitute 68.5 percent of net federal revenues, while unfunded pension liabilities have reached PKR 1,169 billion. These fixed obligations critically constrain fiscal space for development and social spending. The Council stressed that sustainable consolidation requires expenditure rationalisation, tax base expansion, pension reform, and restructuring of loss-making state-owned enterprises — none substantively addressed in the current budget. The Public Sector Development Programme, capped at PKR 1,000 billion, also drew concern. Adjusted for inflation, this represents a contraction in real development spending, risking further deterioration across transport, logistics, urban services, and climate resilience. Mr. Dagha stressed that public investment must be protected and directed toward high-impact projects advancing productivity, exports, and employment. PRAC cautioned against the sharp reduction in withholding tax on international card transactions from 5.0 percent to 0.5 percent, warning it could pressure foreign exchange reserves by encouraging non-essential dollar outflows. On retail taxation, the Council warned that the Fixed Tax Asaan Scheme, without phased POS integration and robust verification, risks misuse by larger businesses seeking to circumvent effective compliance — undermining its documentation objectives. The Council urged stronger measures supporting industrial growth, export competitiveness, and productive investment, emphasising that Pakistan’s economic policy must transition from short-term fiscal balancing to a sustainable growth model anchored in exports, investment, innovation, and institutional reform. PRAC concluded that while Budget 2026-27 contains constructive measures across several sectors, its effectiveness will ultimately depend on disciplined implementation and the political will to pursue the structural reforms necessary to restore fiscal credibility and long-term economic stability. Copyright Business Recorder, 2026 [...]

PCDMA expresses disappointment over budget

June 15, 2026 11:12

KARACHI: Chairman of the Pakistan Chemicals and Dyes Merchants Association (PCDMA), Salim Valimuhammad, has said the association had strongly advocated the abolition of the Export Facilitation Scheme (EFS), but the government chose to retain the scheme without introducing safeguards against its misuse. According to him, the continuation of EFS will further widen the disparity between industrial and commercial importers. Expressed disappointment over the Federal Budget 2026-27, stating that the government has ignored key proposals submitted by commercial importers and failed to address longstanding concerns of the trading community, he pointed out that a significant number of goods imported under industrial concessions are allegedly finding their way into the open market. He said certain importers use industrial status to bring in raw materials and other products under preferential treatment and subsequently sell them commercially, creating unfair competition for legitimate commercial importers who pay full customs duties and taxes. “This practice not only causes substantial financial losses to commercial importers but also deprives the national exchequer of much-needed revenue,” he said. The PCDMA chairman maintained that while commercial importers are required to comply with all tax and duty obligations, industrial importers benefiting from various exemptions and concessions often operate without adequate oversight. He stressed that the absence of an effective monitoring mechanism allows misuse of facilities intended solely for industrial production. Commenting on the budget’s tax measures, he said relief had been extended to the salaried class, but the broader business community and trading sector had received little to no meaningful support. He noted that high tax rates and the overall tax burden on businesses remain largely unchanged. “The budget is not attractive for traders and does not provide the incentives required to stimulate commercial activity,” he remarked. Salim Valimuhammad urged the government to establish a robust system of checks and balances for industrial imports to ensure that concessionary schemes are used strictly for their intended purpose. He emphasized that providing equal opportunities and a level playing field for all stakeholders is essential for sustainable economic growth. He warned that unless the government addresses market distortions, tax disparities and misuse of import concessions, the commercial importing sector will continue to face mounting challenges, with adverse consequences for business activity, and tax collection. Copyright Business Recorder, 2026 [...]

Nehal calls for greater investment in wind energy

June 15, 2026 11:12

KARACHI: Sindh Governor Syed Muhammad Nehal Hashmi on Monday highlighted the importance of renewable energy and environmental sustainability on Global Wind Day, saying that wind power was playing an increasingly significant role in addressing the country’s energy challenges and promoting sustainable economic growth. In his message, the governor said that Global Wind Day serves as a reminder of the collective responsibility to protect the environment and accelerate the transition toward clean and sustainable sources of energy. He noted that electricity generated through wind power was helping Pakistan reduce dependence on conventional energy sources while contributing to efforts aimed at overcoming the country’s energy shortages. He emphasised the strategic importance of Jhimpir in Sindh, describing it as Pakistan’s largest wind corridor and a key hub for renewable energy development. He said the Jhimpir Wind Corridor has emerged as a major contributor to the promotion of clean energy in the country and continues to attract investment in the renewable energy sector. The governor said wind energy projects not only support environmental protection but create employment opportunities, stimulate economic activity, and contribute to local development in surrounding communities. He urged all stakeholders, including the public and private sectors, to support initiatives aimed at increasing the share of renewable energy in Pakistan’s energy mix, stressing that sustainable energy solutions are essential for ensuring long-term economic stability and environmental preservation. Copyright Business Recorder, 2026 [...]

Minister for strengthening business environment

June 15, 2026 11:12

ISLAMABAD: Federal Minister for Investment Qaiser Ahmed Sheikh on Monday called for strengthening Pakistan’s business environment through investment, innovation, and export-led growth. The minister said this while addressing the 17th Edition of the Brand of the Year Awards 2026, which he attended as the chief guest. Addressing the ceremony, the Federal Minister said that the event serves as an important platform to acknowledge and encourage the contributions of Pakistan’s business community. “Coming from a family with a long history of business, I firmly believe that entrepreneurs are the backbone of economic development. We must promote Pakistan globally as a competitive destination for business and investment,” he said. Highlighting the country’s economic challenges, the Minister stated, “With many people living below the poverty line, our priority should be to generate sustainable business opportunities, create employment, and equip our youth with quality education, particularly in technology and modern skills.” He further stressed the importance of enhancing exports and improving the ease of doing business. “The government is introducing reforms to remove unnecessary barriers and facilitate investment. Incentives offered under Special Economic Zones (SEZs), including tax concessions and facilitation for industrial development, are aimed at expanding industrial activity and creating new opportunities for growth,” he remarked. The Minister expressed confidence in the capabilities of Pakistan’s entrepreneurs, noting that the country possesses a competent business community and a competitive workforce that can play a significant role in national development. During the ceremony, the Federal Minister distributed awards among the winning brands. Shaikh Rashid Alam, Founder and CEO of the Brands Foundation Pakistan, presented a memento to the Chief Guest. Organized by the Brands Foundation, the Brand of the Year Awards are regarded as one of Pakistan’s highest recognitions for excellence, honouring the nation’s most trusted and popular brands based on consumer preference and expert evaluation. The Board of Investment (BoI) remains committed to promoting Pakistan as a preferred investment destination by facilitating investors, implementing policy reforms, and supporting sustainable economic growth. Copyright Business Recorder, 2026 [...]

Experts says a stronger infrastructure to accelerate EV industry growth

June 15, 2026 11:12

KARACHI: Experts have called for long-term policy consistency, stronger infrastructure and increased investment in research to accelerate the growth of Pakistan’s electric vehicle (EV) industry, during a webinar on the federal budget 2026-27 organised by Indus Consortium. The webinar, titled “Budget 2026-27: What It Means for Pakistan’s EV Future”, brought together policy experts and industry stakeholders to review the impact of the budget on the country’s transition towards cleaner transport. Yasir Hussain, Director of the Climate Action Centre (CAC) said fears of higher taxes on new energy vehicles had not materialised, as the government had left NEVP-related taxes unchanged. However, taxes on luxury vehicles worth more than Rs20 million had been increased. He said subsidies for electric two and three-wheelers would continue and added that EV bike sales had increased by 61 per cent following the Hormuz developments. He also revealed that two battery manufacturing plants were currently under development in Karachi, signaling growing local investment in the sector. Dr Aazir Khan, Director of the Integrated Engineering Centre of Excellence (IECE) at the University of Lahore, described the federal budget as a stabilisation budget with a fiscal deficit of Rs7 trillion. He said EV subsidies remained limited despite an increase in grants and development spending. He also highlighted the need for greater investment in electricity grid stabilisation, warning that expanding EV adoption would place additional demand on the power network. He said the budget reflected a stronger focus on localisation, noting that customs duties on completely built units (CBUs) remained in place. Saif Muhammad Shah, Senior Research Associate at the FPCCI, said the one-year incentive framework could create uncertainty for investors. He suggested extending the policy horizon to three to five years to provide greater confidence for businesses planning investments in the EV sector. He also called for greater investment in EV research and development, arguing that the current speed and range of electric bikes needed improvement. Shah also stressed the need for charging infrastructure development and a dedicated policy for heavy-duty vehicles, which account for a significant share of transport-related emissions. Manager Programs Indus Consortium, Dr Majid Bilal, and board member Jamshaid Farid also addressed the webinar. Copyright Business Recorder, 2026 [...]

Investment proposals and projects: Dar for expediting implementation

June 15, 2026 11:12

ISLAMABAD: Deputy Prime Minister and Foreign Minister (DPM/FM) Senator Mohammad Ishaq Dar chaired an inter-ministerial meeting on Monday to review progress on Pakistan’s bilateral economic cooperation with key partner countries. DPM/FM emphasised that strengthening trade and investment ties remains a key pillar of Pakistan’s foreign policy. He underscored the need to expedite the implementation of ongoing investment proposals and projects, and explore opportunities for attracting foreign investment in key priority areas through the G2B and B2B frameworks. The meeting was attended by SAPM Tariq Bajwa, Foreign Secretary Amna Baloch, Secretary Defence, Secretary SIFC, and senior officials from relevant ministries and departments. Copyright Business Recorder, 2026 [...]

‘Budget fails to meet people’s expectations’

June 15, 2026 11:12

KARACHI: A business leader and provincial convener of the Awam Pakistan Party Balochistan, Syed Aman Shah, has strongly criticized the budget, describing it as contrary to people’s expectations and country’s economic needs. He said that the budget had failed to provide hope or meaningful relief to the people burdened by soaring inflation, unemployment, and economic hardships. Syed Aman Shah said that instead of offering genuine relief to ordinary people, government employees, workers, farmers, pensioners, and small traders, the budget merely presented statistical figures without addressing real challenges faced by the people. He further stated that the continuous rise in the prices of essential commodities, electricity, gas, medicines, education, and transportation had made life increasingly difficult for the people. However, the budget lacked any clear and effective strategy to address those pressing issues. The increase in salaries and pensions for government employees had been far below the current inflation rate and would not significantly improve the financial condition of middle- and low-income families. Syed Aman Shah also pointed out that despite Balochistan being rich in natural resources, it continued to suffer from long-standing deprivation. The budget did not include adequate measures for the development of the province’s infrastructure, highways, education, healthcare, water resources, agriculture, or employment opportunities for the youth. He said the people of Balochistan were once again being offered promises and announcements instead of practical development initiatives. He said that the federal government should have introduced concrete measures to facilitate small and medium-sized businesses, encourage investment and provide affordable energy to industries in order to stimulate economic growth and create employment opportunities. Instead, he warned that the increased tax burden could further discourage business activity and slow economic progress. Syed Aman Shah said that Pakistan had been currently facing serious economic challenges, and under such circumstances, the country needed a people-friendly, business-friendly and growth-oriented budget. Unfortunately, the budget presented appeared to be a collection of official claims and formal announcements rather than a practical roadmap for solving the nation’s economic problems. He urged the federal government to review the budget and introduce meaningful measures to control inflation, generate employment, provide real relief to the salaried class, revive agriculture and industry, and ensure the development of Balochistan and other underdeveloped regions so that the people could be relieved from their growing economic difficulties. Copyright Business Recorder, 2026 [...]

First time in 8 years: Karachi Port hits 2,000 vessel calls milestone

June 15, 2026 11:12

ISLAMABAD: Karachi Port has crossed the milestone of 2,000 vessel calls for the first time in nearly eight years, reflecting a steady rise in maritime trade activity and strengthening the port’s position as Pakistan’s main gateway for international commerce, according to Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, while sharing annual official data released by Karachi Port Trust. The Minister said Karachi Port handled 2,003 ship calls between July 2025 and June 13, 2026. He said that the figure surpasses the 2,000-vessel mark last recorded during fiscal year 2017-18. The vessels that called at the port during the period represented a combined gross registered tonnage (GRT) of 84.43 million tons, highlighting the scale of shipping operations managed by the country’s largest seaport. The minister said vessel calls increased by 7.5 percent compared with the corresponding period last year, while gross registered tonnage rose by 3 percent, indicating sustained growth in cargo movement and maritime traffic. He said the achievement underscores the growing momentum of Pakistan’s maritime trade and reaffirms Karachi Port’s central role in the country’s trade and logistics network, through which a significant share of imports and exports is handled. KPT Chairman Rear Admiral Shahid Ahmed (Retd) attributed the growth to increased shipping activity, improved operational efficiency, and the continued confidence of international shipping lines operating through Karachi Port. “Karachi Port, established in 1887, remains a key hub for containerized cargo, bulk commodities, and general trade, linking Pakistan with major regional and global shipping routes,” he said. Junaid Chaudhry described the rise in vessel calls as a positive indicator for Pakistan’s trade outlook, reflecting stronger commercial activity and greater utilization of port infrastructure. He said the milestone was achieved through the efforts of the KPT team to enhance maritime connectivity, modernize port operations, and attract investment into the country’s logistics and maritime sectors. Copyright Business Recorder, 2026 [...]

FBR explains higher penalties for digital non-compliance

June 15, 2026 11:12

ISLAMABAD: Federal Board of Revenue (FBR) Member (Strategic Transformation) Dr. Hamid Ateeq Sarwar said that the enhanced penalties for digital non-compliance proposed under the Finance Bill 2026 should take into account the fact that 10,000 to 12,000 point-of-sale (POS) outlets are currently disconnected out of the 37,000 POS-integrated retail branches across the country. This he stated while briefing the Senate Standing Committee on Finance and Revenue, which met here on Monday. FBR’s top Member disclosed this information before the Senate Standing Committee on Finance on Monday during the review of the Finance Bill 2026. The committee accepted a proposal of the documented steel sector to continue with the old system of sales tax payment, with enabling powers to the FBR to prescribe a new system under the Finance Bill 2026. Copyright Business Recorder, 2026 [...]

LCCI lauds PM for growth-oriented budget

June 15, 2026 11:12

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has appreciated Prime Minister Shehbaz Sharif and his economic team for presenting a balanced, business-friendly and growth-oriented Federal Budget 2026-27, describing it as a positive step towards economic stability, investment promotion and sustainable growth. In a letter to the PM, LCCI President Faheem-ur-Rehman Saigol congratulated PM Shehbaz Sharif, Federal Finance Minister Muhammad Aurangzeb and the entire economic team for introducing a budget that reflects the government’s commitment to economic development, private sector growth and public welfare. Faheem also acknowledged the contributions of Minister of State for Finance Azhar Kayani, Special Assistant to the Prime Minister Haroon Akhtar Khan, Chairman FBR Rashid Mahmood Langrial, Director General Tax Policy Office Dr Najeeb Memon and other members of the economic team for maintaining close coordination with the business community throughout the budget-making process. The LCCI president said the budget contains several important measures aimed at supporting businesses, encouraging investment, enhancing exports and providing relief to salaried individuals. He observed that these initiatives would help improve the business environment, stimulate economic activity and strengthen confidence among investors and entrepreneurs. He particularly welcomed the continuation of concessional financing for merchandise exporters at a markup rate of 4.5 percent, withdrawal of the super tax, continuation of the final tax regime (FTR) for IT exports, abolition of capital value tax (CVT) on foreign assets, rationalization of withholding taxes under Sections 236C and 236K, removal of Section 7E and reduction in the Super Tax rate under Section 4C. He also appreciated the introduction of the Fixed Tax Asaan Scheme for traders, reduction in withholding tax on international transactions through bank cards, removal of customs duties on agricultural machinery imports and meaningful tax relief for the salaried class. He expressed confidence that the measures announced in the federal budget would contribute significantly to economic growth, export enhancement, industrial expansion, employment generation and overall economic stability in the coming years. Copyright Business Recorder, 2026 [...]

SBP holding rates, watching risks

June 16, 2026 1:05

As expected, the SBP kept the policy rate unchanged at 11.5 percent. Overall, the stance is hawkish, and barring any shock—whether from energy prices or climate-related events—inflation is likely to taper off over the next few months. Analysts, and perhaps the SBP, expect inflation next year to remain between 7 and 9 percent, which is higher than the SBP’s medium-term target range of 5–7 percent. Hence, maintaining real rates of 2–3 percent is prudent. At the same time, the SBP expects growth to pick up and believes—although it will reveal its forecast next month—that it could exceed 4 percent next year, higher than the government’s own estimate. Thus, growth is coming, albeit slowly. The SBP must ensure that the economy does not overheat, and a cautious stance is warranted for that. There are two ways to deal with this. As some economists argue, the currency could be allowed to depreciate while interest rates are brought down. This would support export-led growth in its true sense and could maintain a delicate balance. However, given the political compulsion to maintain a sticky exchange rate, the SBP must keep real rates high. Thus, barring any shock, the SBP should keep the policy rate unchanged over the next few months. Monetary policy is complementing the budget, which is essentially a relief budget. The Monetary Policy Committee believes that the budget is not expansionary or inflationary. Rather, it views the budget as supportive of the industrial sector and exports. Some are of the view that deferred investment, perhaps even in balancing, modernisation and replacement, may now take place. That is positive, and excessive tightening could be detrimental. Hence, the committee did not opt for a 50-basis-point hike, although there may have been a voice in favour of it. The SBP is comfortable with the build-up of reserves, as the governor expects the total to cross $18 billion by June, providing 2.7 months of import cover. He wants to continue buying dollars from the interbank market, with the next goal being to reach three months of import cover. Some believe that the SBP is also curbing so-called non-essential imports to keep the overall bill in check. Channel checks with the auto sector and banks confirm the SBP’s comfort with growing automobile imports, which are close to an all-time high. Whatever formula the SBP is adopting appears to be working, as there is no panic and all official payments are being honoured. The key is to keep inflation under control and maintain sanity in the external account while the economy grows at a slow pace. The SBP perhaps desires export-led growth. The concessional financing rate for exporters has been slashed by 1 percentage point, which has to be absorbed by banks that are behaving like good boys. The government has reduced tax rates for exporters, while banks are providing cheaper financing. That gives the SBP room to maintain positive real rates—along with a tarka of administrative controls—to ensure that the economy does not overheat because of domestic demand. There are some concerns about rising food prices, particularly wheat, whose price historically dips after harvesting. However, it is moving in the opposite direction. One way to address this is by opening wheat imports—or at least creating the threat of imports—as international prices are low. The key risks relate to the unfolding of the budget and the continuation of the soft deal between Iran and the US. The budget numbers do not add up. Tax revenues are likely to fall short, which could affect the one-time grant to be provided by the provinces. Any fiscal slippage could have inflationary consequences, and the SBP must watch out for that. Energy prices could also rise again if the truce in the Middle East ends. Moreover, this could have medium-term implications for home remittances, which reached an all-time high last month. The SBP must closely watch all these risks over the next few months and should maintain the policy rate before considering a shift into higher growth gear. [...]

Punjab budget today

June 16, 2026 12:38

LAHORE: The Punjab government is set to present its budget for the fiscal year 2026-27 on Tuesday (today), with an estimated outlay exceeding Rs 5 trillion. Punjab Finance Minister Mian Mujtaba Shuja-ur-Rehman will present the proposed budget before the Punjab Assembly for approval. Before its presentation, the proposed financial document will be approved by the Punjab Cabinet. It may be noted that the provincial government has extended a financial concession of Rs 570 billion to the federal government; however, Punjab is expected to receive over Rs 3 trillion from the divisible pool under the National Finance Commission award. Thus, in alignment with a consensus reached at the National Economic Council (NEC), Punjab’s Annual Development Programme (ADP) is expected to see a visible cut. READ MORE: Minister pledges record development budget Sources said that Punjab Chief Minister Maryam Nawaz Sharif has approved the financial proposals, revealing a heavy focus on targeted public relief, health, and education infrastructure, alongside an aggressive cut to development spending to assist the federal government’s economic consolidation efforts. Moreover, officials expect salary increases for government employees to be aligned with the federal government’s recent decision, while an increase in the minimum monthly wage for workers is also anticipated. According to the Punjab Finance department, during the budget session, the Finance minister will brief the members of the Assembly on the budget proposals, fiscal priorities, and key features of the budget in detail. The Budget 2026–27 will be the third budget of the Punjab government under the leadership of Maryam Nawaz Sharif, reflecting a strong commitment to pro-people policies and a vision of sustainable economic development. Copyright Business Recorder, 2026 [...]

Exports stay largely flat in 5 years: Aurangzeb

June 15, 2026 11:12

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Monday acknowledged that Pakistan’s exports have remained largely stagnant over the past five years and indicated that the super tax would eventually be phased out. He warned that the existing business operating model has run its course and urged the industrial sector to adopt innovation, as the government works to create an enabling environment for export-led growth. This he stated while briefing the Senate Standing Committee on Finance and Revenue, which continued its detailed examination of the Finance Bill 2026. The Senate body held its third consecutive session with Senator Saleem Mandviwallato conduct a clause-by-clause review of the Income Tax Ordinance, 2001, and deliberate on a wide range of fiscal, taxation, industrial, and revenue-related proposals. Aurangzeb hinted that the government is working towards the gradual abolition of the super tax, reaffirming that efforts to remove it will continue each year. Committee members also voiced concern about the decline in Pakistan’s exports. Talha Mahmood argued that Pakistan’s tax burden and electricity tariffs are higher than those in neighbouring countries such as India and Bangladesh. According to him, these factors are making Pakistani exports less competitive in international markets. The minister also said that exports to Afghanistan were also affected. He urged changing the existing business model to boost production and exports by bringing innovation. The committee also reviewed proposals relating to the super tax and broader taxation reforms. Aurangzeb briefed members on the government’s ongoing efforts to rationalize the tax structure and support economic activity. During the discussion, members examined proposals regarding exemption thresholds and their potential fiscal implications. The FBR informed the committee that increasing the exemption threshold from Rs500 million to Rs1 billion would require approximately Rs250-300 billion in additional tax measures to balance revenue losses. The committee approved a proposal to abolish the one percent withholding tax imposed on exporters. The committee undertook an extensive clause-by-clause review of the Income Tax Ordinance, 2001, while examining key taxation measures, financial reform proposals, and amendments proposed under the Finance Bill 2026. The FBR officials briefed members on various provisions and responded to detailed queries regarding tax administration, revenue collection, and implementation mechanisms. The committee held detailed deliberations on matters relating to the steel and manufacturing sectors, including proposals concerning taxation mechanisms, refund systems, and industrial facilitation measures. Representatives of the large-scale manufacturing sector apprised the committee of operational challenges being faced by the industry and shared data regarding electricity costs and sectoral composition. Members reviewed proposals aimed at ensuring a balanced and efficient framework that supports industrial growth while maintaining revenue objectives. Mandviwalla emphasized the importance of evidence-based policymaking, institutional continuity, and effective implementation of tax reforms. The committee stressed the need for a comprehensive evaluation of taxation measures to ensure consistency, transparency, and long-term sustainability within the fiscal framework. The committee received a detailed briefing on FBR’s digital monitoring initiatives designed to enhance documentation and improve compliance through technology-driven systems. Members were informed that digital monitoring mechanisms are being introduced for industrial units to facilitate transparent oversight and reduce administrative burdens. The committee reviewed proposals associated with the initiative and discussed implementation modalities. Members also considered proposals relating to tax collection mechanisms in the steel sector, including options linked to electricity consumption data. The committee reviewed measures aimed at broadening the tax base, improving documentation, and facilitating the efficient processing of refunds. FBR officials informed the committee that approximately Rs55 billion in refunds are processed on a monthly basis and briefed members on efforts to further streamline the refund system. The committee approved a proposal to tax the profit component of life insurance policies from Tax Year 2026. The principal amount will remain exempt from taxation. Insurance proceeds payable upon death, disability-related insurance benefits, and policies maturing after seven years will continue to enjoy tax exemption under the proposed framework. The committee also endorsed the continuation of sales tax exemptions on property settlements following the death of parents. Members were informed that no sales tax would apply on property division or valuation adjustments carried out as part of inheritance settlements. The committee further reviewed taxation proposals relating to mutual funds and Modarabas as part of broader efforts to ensure uniformity within the taxation framework. During discussions on the digital economy, members reviewed proposals concerning the taxation of income generated through social media and online platforms. The committee emphasized the importance of encouraging digital entrepreneurship, facilitating foreign exchange inflows, and ensuring an equitable taxation framework for emerging sectors of the economy. The committee subsequently approved a proposal for a five percent withholding tax on specified categories of social media income. Under the approved proposal, annual income up to Rs600,000 will remain exempt, while a five percent withholding tax will apply to income between Rs600,000 and Rs1.2 million. The FBR officials told lawmakers that many individuals are earning substantial incomes through social media activities and digital content creation. “We want taxation on those earnings as well,” the FBR chairman informed the committee. The committee heard representations from stakeholders of the auto import and automobile sectors regarding policy implementation, regulatory procedures, and trade facilitation measures. Members were briefed on matters relating to vehicle imports, inspection procedures, and sectoral challenges. Relevant officials informed the committee about ongoing consultations and policy developments aimed at supporting the sector and ensuring regulatory clarity. The committee alleged that a case involving Rs1.5 billion had emerged and accused the Engineering Development Board of misusing its powers. He demanded the resignation of the industry secretary and warned that the matter could lead to serious legal consequences. “This is a straightforward case that could result in handcuffs,” he said. The meeting was attended by Federal Finance Minister Muhammad Aurangzeb, Minister of State for Finance Bilal Azhar Kayani, Chairman Federal Board of Revenue (FBR) Rashid Mahmood Langrial, Senator Abdul Qadir, Senator Talha Mehmood, Senator Shazaib Durrani, Senator Anusha Rehman Ahmad Khan, Senator Faisal Vawda, Senator Syed Faisal Ali Subzwari, Senator Dilawar Khan, representatives of Pakistan Steel Mills, telecom sector stakeholders, large-scale manufacturing representatives, auto industry stakeholders and senior officials from the FBR and relevant ministries. Copyright Business Recorder, 2026 [...]

Zelensky proposes meeting Putin in US

June 15, 2026 11:12

KYIV, (Ukraine): Ukrainian President Volodymyr Zelensky said Monday he was willing to meet Russian counterpart Vladimir Putin in the United States, suggesting Putin would find such an offer “harder to refuse”. The Ukrainian leader said he made the proposal in a call with US President Donald Trump, and was waiting to see what came of it. [...]

FCC says retaining employees on contract for years is economic exploitation

June 15, 2026 11:12

ISLAMABAD: The Federal Constitutional Court (FCC) held that the continued retention of employees on a contract basis for years together constitutes a form of economic exploitation and administrative arbitrariness, which is violative of the Constitution and the law. A two-judge bench of the FCC, comprising Justice Aamer Farooq and Justice Syed Arshad Hussain Shah, ruled that on an appeal of Khyber Pakhtunkhwa (petitioner), filed through the Chief Secretary, against the Peshawar High Court judgment dated May 31, 2018. The respondents were appointed as dispensers (BS-6) w.e.f. November 11, 2002 & March 6, 2007 respectively, on a contract basis in the erstwhile Federally Administered Tribal Areas. Upon deletion of health facilities from the ADP 2010-11, the services of staff working in health facilities under the ADP Scheme, including the respondents, were terminated w.e.f. June 30, 2010. The respondents, having failed to obtain relief through their departmental appeals, invoked the jurisdiction of the High Court under Article 199 of the Constitution by filing a writ petition, directed the petitioners to reinstate the respondents in their services and issue their formal regularisation orders against their respective posts. The FCC observed that the issue of the regularisation of contract employees is not merely a matter of service jurisprudence but is linked with the enforcement of fundamental rights guaranteed under the Constitution. Article 9 of the Constitution, which guarantees the right to life, has been expansively interpreted by the superior judiciary to include within its fold the right to livelihood and job security. The concept of ‘life’ under Article 9 is not to be construed narrowly but must be given a broad and purposive interpretation so as to ensure meaningful existence, which necessarily includes the assurance of stable employment where the nature of work is permanent. Copyright Business Recorder, 2026 [...]

New fixed tax scheme from July 1: 100,000 small shopkeepers, retailers to avail benefits

June 15, 2026 11:12

ISLAMABAD: Around 100,000 small shopkeepers and retailers across Pakistan will contribute Rs 25,000 each to avail the benefits of the new fixed tax scheme from July 1, 2026. The Federal Board of Revenue’s (FBR) top Member Dr Hamid Ateeq Sarwar Monday informed the National Assembly Standing Committee on Finance that the government would persuade 3.5 million small shopkeepers to look into this matter and lure them to come into the tax net. “We will initially target almost 100,000 retailers for contributing at least Rs 25,000 to avail this scheme,” he said, and added that there would be no audit until and unless a massive discrepancy was found for having luxury vehicles and plots in the Defence Housing Authority. No tax official in the field formation can visit or raid the shop to which a specific “number plate” has been allocated by the FBR under the scheme. He added that the government would target 100,000 small retailers at the first stage. On the super tax, he said that the higher income earners exceeding Rs 500 million would have an revenue impact of Rs 400 billion. Copyright Business Recorder, 2026 [...]

Sharjeel urges opponents to work together for people

June 15, 2026 11:12

KARACHI: Sindh Senior Minister and Provincial Minister for Information, Transport and Mass Transit Sharjeel Inam Memon has said that the Sindh government has not made claims but has shown them by work, work and work, and we also tell the opponents that let us work together for the people, opposition in its own place, service in its own place, not on slogans and press conferences, we believe in public service. In a statement, he said that the people do not benefit from fights and accusations but from service, development and practical measures, development projects and people-friendly measures have proven that the axis of PPP politics is only public service. Sharjeel Inam Memon said that some people hold daily press conferences, make allegations and are busy in political point scoring, the Sindh government is solving the problems of the people through practical measures. He said that the leadership of the Pakistan People’s Party has always prioritised public service, our answer to the opponents will not be rhetoric but more development projects, more facilities and more public service. Copyright Business Recorder, 2026 [...]

Iran envoy appreciates facilitation of peace deal

June 15, 2026 11:12

ISLAMABAD: Iran appreciates the sincere efforts of Pakistan’s political and military leadership in facilitating the ceasefire and peace agreement between Iran and the United States. This was stated by the Ambassador of Iran to Pakistan, Reza Amiri Moghaddam, during his meeting with the Speaker of the National Assembly, Sardar Ayaz Sadiq, at the Parliament House hereon Monday. The Iranian ambassador said that Pakistan had consistently played a positive and constructive role in promoting peace and resolving conflicts. Moghaddam congratulated the Government of Pakistan, the Parliament, and the military leadership on their successful diplomatic efforts and stated that the government and people of Iran would always value and remember Pakistan’s sincere cooperation, goodwill, and effective role in promoting peace. He further noted that the contributions of Pakistan’s political, parliamentary, diplomatic, and military leadership toward achieving the ceasefire and peace agreement between Iran and the United States were commendable and of great significance for fostering peace and stability in the region. Sardar Ayaz Sadiq extended his heartfelt congratulations to the Iranian leadership and people on the peace agreement reached between Iran and the United States, warmly welcoming this significant development. He described the agreement as a positive, encouraging, and historic step towards promoting peace, stability, mutual trust, and constructive diplomacy in the region. Copyright Business Recorder, 2026 [...]

Kenyan National Tea Day celebrations held at LCCI: Kenya, Pakistan enjoy long-standing bilateral ties: HC

June 15, 2026 11:12

LAHORE: High Commissioner of Kenya Lt Gen Peter Mbogo Njiru (R) said that Kenya and Pakistan enjoy warm, cordial and long-standing bilateral relations based on mutual respect, shared interests and strong people-to-people linkages. He was speaking at the Kenyan National Tea Day celebration organized by the Lahore Chamber of Commerce & Industry (LCCI). He said tea represents a cultural bridge between the two countries, deeply embedded in daily life in Pakistan, while Kenya remains one of the world’s leading producers and exporters of high-quality black tea. There is significant untapped potential for expanding cooperation in trade, agriculture, investment, manufacturing, tourism, ICT and other sectors, and encouraged Pakistani investors and business community to explore opportunities in Kenya, he added. In his welcome remarks, the LCCI president said the LCCI appreciates the collaboration of the High Commission of Kenya in organizing the event, which will help promote Kenyan tea, enhance cultural exchange and create new avenues for business networking between the two countries. He added that Pakistan is among the largest importers of Kenyan tea, with around 80 percent of Pakistan’s tea imports coming from Kenya, reflecting strong consumer trust in Kenyan products. Speaking on the occasion, the Kenyan high commissioner said Kenya produces over 600 million kilograms of tea annually, generating export earnings of approximately 1.15 billion dollars, and exports to more than 100 countries worldwide. He said Pakistan is one of the largest consumers of tea globally, where tea is an essential part of hospitality, family gatherings and social life. He stressed that expanding cooperation in value-added tea products, specialty blends, green teas and wellness teas can open new market opportunities for Pakistani importers, distributors and consumers. He further highlighted that Kenya offers attractive investment opportunities in agriculture, agro-processing, renewable energy, ICT, manufacturing, tourism, real estate, mining and the blue economy, and described Kenya as a strategic gateway to the East African Community and broader African markets. He also appreciated the role of LCCI in strengthening bilateral economic relations and acknowledged the support of the Pakistan Tea Association in sustaining strong trade ties. Copyright Business Recorder, 2026 [...]

Minister inaugurates ‘Prison Block’ at Services Hospital

June 15, 2026 11:12

LAHORE: Inaugurating the Prison Block here at Services Hospital, provincial Minister for Health Khawaja Salman Rafique said the Punjab government is striving to provide quality and timely medical facilities to all citizens without discrimination. IG Prisons Mian Farooq Nazir, Principal Services Institute of Medical Sciences Prof Dr Zohra Khanum, MS Services Hospital Lahore Dr Rana Khurram Aftab and other faculty members were present on the occasion. Provincial Minister Khawaja Salman Rafique reviewed the modern medical facilities provided for prisoners in the ‘Prison Block’. Khawaja Salman Rafique said that prisoners are also a part of society and it is the responsibility of the state to provide them with better medical facilities. The establishment of a modern ‘Prison Block’in the Services Hospital will provide quality medical services to the prisoners undergoing treatment in a safe environment. This project will not only improve the treatment facilities but will also make the security arrangements more effective, he added. The minister said that according to the vision of Punjab Chief Minister Maryam Nawaz Sharif, the Punjab Health Department is continuously taking steps to improve medical facilities in hospitals, facilitate patients and provide modern infrastructure. A series of modern reforms will be continued to further improve the quality of treatment in government hospitals and provide best facilities to patients, he added. Moreover, the health minister Khawaja Salman Rafique said that we are in touch with the affected family and the affected family regarding the incident of a Pakistani family from Australia being injured during a robbery in Chakwal. Secretary Health Punjab Azmat Mahmood said that a board comprising Vice Chancellor Rawalpindi Medical University Professor Dr Muhammad Umar and other senior doctors has been formed for the treatment of the patients. Doctors said that the 10-year-old patient underwent a successful operation his stomach was operated on, while during the examination, a wound on the hip joint and a bone fracture were also identified. The patient is currently in stable condition and is being monitored in the High Dependency Unit (HDU). The second patient, the father of the child, also sustained gunshot injuries, but is also in stable condition and does not require any major medical or surgical intervention at this time. Copyright Business Recorder, 2026 [...]

PCB unveils new system of player contracts

June 15, 2026 11:12

LAHORE: The Pakistan Cricket Board (PCB) on Monday unveiled the most significant redesign of its player contract system in the board’s history — and, in one crucial respect, a structure that places Pakistan at the forefront of how the modern game is administered worldwide. Pakistan is among the first in international cricket to build a contract framework that formally recognises the modern reality of the game that the three formats now demand fundamentally different commitments, and that players increasingly specialise. As the global game continues to evolve, the traditional single-list model — where a Test specialist and a T20 franchise player are measured for the same grade — is increasingly out of step with how cricketers actually build their careers. Pakistan has chosen to lead that evolution, replacing the one-size-fits-all approach with a system that openly defines, prioritises, and protects each format on its own terms. This is not a cosmetic change to pay grades. It is a structural answer to the single hardest question in modern cricket administration: how do you keep Test cricket strong in an age of franchise T20, while treating every kind of cricketer fairly? The defining feature of the new framework is that format commitment is now explicit and structural — not a matter of selectorial mood or informal understanding. As per document made available, every contracted player is aligned to a defined format pathway. Some pathways centre on the red-ball game; others on white-ball or T20 cricket. A player’s pathway determines what the board asks of them, and what the board offers in return. The choice is visible, it is documented, and it carries real consequences — which is precisely what gives it value. Crucially, the framework prioritises and deprioritises formats deliberately and transparently: Test cricket is actively protected. Because the longest format offers players the least earning opportunity outside national duty, the framework is deliberately weighted to reward those who commit to it — so that choosing red-ball cricket for Pakistan is a choice the system supports, not one a player makes at a personal cost. As per document, white-ball and T20 specialisation is recognised, not penalised. A player whose value to Pakistan is in the shorter formats now has a clear, respected pathway — with league freedoms that reflect the realities of the modern game — rather than being measured against criteria built for a different kind of cricketer. Format is left undefined. Every pathway carries its own obligations and its own opportunities, each calibrated to the market reality of that format. This is the formalisation of format prioritisation — and it is what makes the framework genuinely new on the world stage. The new framework replaces those grades with five clearly defined tracks, each built around a format commitment rather than a pay rank. Track AB — Dual Format (Test and ODI). Pakistan’s premier multi-format cricketers — the players who carry both the Test and one-day sides. This is the board’s highest commitment tier. An AB player can still be selected for a T20I, and when they are, they play and are recognised for it — but the board does not regard an AB cricketer as a short-format player. That call is only made when selection options require it, never as a default. Track A — Red-Ball Specialist (Test). The dedicated Test cricketers. This track exists to recognise and protect players who give themselves to the longest format, and it carries permissions designed to keep them playing red-ball cricket at the highest level. Track BC — White-Ball (ODI & T20I). The core white-ball track, for players whose value to Pakistan is across the limited-overs game. This is where most white-ball cricketers will sit, and it absorbs what used to be a separate ODI category. Track C — T20I and Franchise Specialist. The dedicated short-format players, with the greatest freedom to pursue franchise cricket around their national commitments — a formal, respected recognition of T20 specialisation. Track D — Development / NCA. A development track for the next generation, investing in young players through the National Cricket Academy and the wider high-performance system. Two principles sit across the framework. First, a player is only ever measured against others in the same track — never against someone playing a different format. Second, each senior track has two internal tiers, so a player’s standing within their track can rise or fall year to year on performance alone, without anyone having to change the format they have committed to. The Development track is a single tier, reflecting its role as an entry pathway. One feature of the new framework deserves particular attention, because it reframes how a board can support the longest format. For the first time, Pakistan’s dedicated Test specialists are being granted permission to play overseas first-class cricket — in the premier red-ball competitions of the world’s leading nations. This is the opposite of sending players away to the shorter game. It is a deliberate investment in red ball quality: a Test cricketer who spends time in the most demanding first-class environments returns sharper, harder to dislodge, and better prepared for Pakistan. The permission is for red-ball cricket only — franchise T20 leagues remain closed to this group — and it makes the message unmistakable. Pakistan is not just protecting Test cricket on paper; it is actively building the conditions for its Test players to be the best in the world at what they do. “Every cricket board in the world is grappling with the same question, how do you keep Test cricket strong in the age of the franchise game? At Pakistan, we have chosen to answer it with structure rather than words. I am proud that this framework puts us at the front of that thinking — and I believe it points to a direction the wider game will move toward in the years ahead,” Mohsin Naqvi, Chairman, Pakistan Cricket Board (PCB) said. Copyright Business Recorder, 2026 [...]

LCCI lauds PM for growth-oriented budget

June 15, 2026 11:12

Trump faces G7 as questions swirl on Iran accord

June 15, 2026 11:12

EVIAN-LES-BAINS: US President Donald Trump on Monday arrived to attend a G7 summit in France, with allies hoping his outline deal with Iran translates into a swift reopening of the Strait of Hormuz. Air Force One carrying Trump touched down at the airport in the Swiss city of Geneva, from where Trump was to transfer to the nearby French spa resort of Evian for the summit hosted by French President Emmanuel Macron. Flush from celebrating his 80th birthday by watching MMA cage fighting at the White House the previous night, Trump had proclaimed “let the oil flow” after announcing the framework Iran deal — a “memorandum of understanding” — had been clinched. But allies will have a list of questions for the US leader, notably on whether Iran plans to charge ships for transiting the Strait. Macron faces a delicate balancing act in hosting the often unpredictable US leader. The New York Post newspaper reported that Trump is threatening to slap a 100-percent tariff on French wine and champagne unless Paris removes a digital services tax. Iran will be far from the only explosive issue at the three-day meeting, with Ukrainian President Volodymyr Zelensky due to attend from Tuesday to press for progress in ending Russia’s war on his country. Ukraine on Monday blamed Russia for a missile barrage that killed at least 11 people and sparked a fire at a landmark Kyiv cathedral. In terms of potential Iranian fees on vessels using the Strait of Hormuz, Tehran on Monday insisted it would charge what it described as maritime service fees and said they should not be described as tolls. Macron told TF1 television: “We defend international law and we will do everything in our power to ensure there is no toll.” “There shouldn’t be any tolls or anything that would enrich those in power” in Iran, he added. The details of the US-Iran agreement have not been disclosed publicly. Macron said the accord had been signed “electronically” with additional annexes yet to be “finalised” on Friday. European leaders are impatient to see the Strait of Hormuz reopened after Iran’s limiting of shipping traffic during the war caused a spike in global energy prices. Egypt’s President Abdel Fattah al-Sisi, the emir of Qatar and president of the United Arab Emirates will be present for a special session on Iran Tuesday. A parade of world leaders will take place over the next three days, with France keen to expand the reach of the G7 beyond its membership of Britain, Canada, France, Germany, Italy, Japan and the United States. Brazilian President Luiz Inacio Lula da Silva was among the first guests to arrive and was to be joined by other non-G7 leaders including Indian Prime Minister Narendra Modi. Beyond politics, Sam Altman, head of artificial intelligence giant OpenAI, Anthropic chief Dario Amodei and Arthur Mensch of their European rival Mistral AI will attend a lunch on Wednesday on protecting minors in the digital sphere. [...]

A nation failing its children

June 15, 2026 11:12

EDITORIAL: The scale of Pakistan’s child labour crisis came into sharp focus at the International Labour Organisation’s briefing held in Islamabad to commemorate the World Day against Child Labour. The discussion underscored a damning reality: an estimated 8.6 million children aged five to 17 are engaged in child labour nationwide, meaning nearly one in every 10 Pakistani children is deprived of a safe and secure childhood. These figures serve as a sobering reminder that child labour remains one of the most glaring manifestations of systemic deprivation and state neglect in the country. They are, in fact, an indictment of national priorities as they reflect a crisis that has festered for decades despite repeated commitments, policy interventions and international scrutiny. Given the sheer scale of the problem and its devastating implications for future generations and the toll it exacts on the country’s development trajectory, alongside the reputational cost Pakistan has long borne on this count before international bodies, one would have expected a far more sustained, coordinated and effective national response. Instead, child labour remains entrenched across sectors and regions, raising uncomfortable questions about the country’s commitment to protecting the next generation of Pakistanis. This reality is reflected most clearly in the hazardous and exploitative conditions in which children are working, often beyond the reach of formal monitoring systems, across agriculture, brick kilns, domestic work, waste-picking, construction and other segments of the informal economy. Around 88 percent of cases are concentrated in rural areas, even as the phenomenon persists in urban centres in equally concerning forms. As the ILO country director for Pakistan rightly observed at the briefing, child labour is deeply intertwined with structural deprivation – poverty, informality, unequal access to opportunity, barriers to education and fragile social protection systems – and stressed that enforcement of labour laws alone cannot address the crisis. A durable response, he noted, must widen access to quality education, generate dignified employment for adults, lift household incomes and reinforce safety nets for vulnerable families. The education gap remains a decisive factor: with around 25 million children aged five to 16 out of school in Pakistan, exclusion from classrooms feeds directly into vulnerability to early labour, reinforcing a cycle where work and learning become mutually exclusive. Despite a range of legislations passed against child labour at both federal and provincial levels – the most recent one being the Sindh Domestic Workers Welfare Bill 2025, which bans the employment of children under 16 in domestic work – enforcement continues to be hampered by structural gaps in implementation. Fragmented coordination between federal and provincial authorities, limited labour inspection capacity and disjointed data systems have diluted accountability, while weak integration between education, labour and social protection policies has further constrained effectiveness. The result has been a patchwork of isolated efforts, rather than a coherent nationwide response capable of matching the scale of the problem. What is needed is a unified, system-wide approach that aligns provincial action within a national framework, ensuring that enforcement, schooling access, income support and labour regulation operate in tandem. With nearly 70 million Pakistanis now living below the poverty line as highlighted in the latest Economic Survey, the challenge of eliminating child labour becomes even more complex. Economic vulnerability continues to push households into difficult trade-offs, making it imperative to strengthen social safety nets and create credible routes that allow children to exit the workforce without undermining already fragile family incomes, while securing their right to education. The state can ill afford complacency in this regard, as at stake is the country’s development trajectory, the prospects of future generations and even its GSP Plus eligibility. What is required now is a coherent and nationwide policy framework at scale. Copyright Business Recorder, 2026 [...]

Fiscal fault lines could test budget outlook

June 15, 2026 11:12

EDITORIAL: While the FY2026-27 budget has been framed as a pro-growth package aimed at reviving economic activity after years of stabilisation, the finance ministry’s own statement of fiscal risks underscores that its projections remain exposed to multiple downside vulnerabilities, with the growth narrative dependent on a range of assumptions holding steady. Submitted to parliament under the Public Finance Management Act 2019 on June 14, the document flags several broad risk areas spanning macroeconomic and revenue pressures, debt servicing, state-owned enterprises and climate change among others. Together, these factors could potentially widen the fiscal deficit and undermine key budget assumptions over the coming year. Among the most immediate vulnerabilities highlighted by the finance ministry is the prospect of a spike in global oil prices driven by tensions in the Middle East. Such a development would have cascading consequences for budgetary assumptions and the wider economy. To cushion consumers from the full impact of higher fuel costs, the government may be forced to increase energy subsidies while also sacrificing a portion of petroleum levy revenues by limiting the pass-through of international prices. The fiscal cost could be considerable: a $40-per-barrel increase in oil prices may widen the fiscal deficit by 0.8 percent of GDP. Moreover, higher energy prices would also raise the cost of doing business, erode household purchasing power and dampen economic activity, potentially slowing growth and weakening tax collections. A one percentage point decline in real GDP growth could lower revenues through reduced tax collection while adding to expenditure pressures, particularly on social safety nets, with the combined impact widening the fiscal deficit by around 0.2 percent of GDP. Concurrent inflationary pressures and exchange rate depreciation could further strain public finances. While the prospects of a US-Iran peace deal now offers hope that risks from volatile oil prices may remain contained, the region’s recent history of instability tells us that adverse scenarios cannot be ruled out entirely. Beyond external shocks, the ministry has also flagged significant domestic vulnerabilities. Revenue collections remain exposed to lower tax elasticity, weaker-than-expected non-tax receipts and persistent structural constraints in reducing the tax gap, all compounded by a chronically narrow tax base with limited expansionary momentum on this count in the budget. Given this, even a 10 percent shortfall in tax revenue growth relative to budgetary projections could reduce revenues by around 0.7 percent of GDP. Debt servicing also remains a key area of vulnerability, with fiscal outcomes highly sensitive to shifts in interest rates, exchange rate movements and refinancing conditions. Any tightening in domestic or external borrowing costs, alongside greater reliance on short-term financing, could significantly raise interest payments and strain the fiscal deficit. SOEs add another layer of pressure, with weak dividend transfers and potential increases in government support for losses or liquidity needs further weighing on the fiscal position. Climate and disaster-related risks pose some tough trade-offs. A mitigation pathway aligned with RCP 2.6 – a low-emissions scenario that assumes early, aggressive action to curb greenhouse gases – would require higher upfront spending on adaptation measures. While this strengthens long-term resilience, it comes at an immediate budgetary cost by widening the fiscal deficit. By contrast, a higher-emission trajectory may appear less costly initially, but carries rising long-term fiscal risks through more frequent and severe climate shocks. Natural disasters remain among the most significant pressures, with a single average event capable of pushing the fiscal deficit to around 1.5 percent of GDP. Ultimately, the breadth of risks outlined underscores that the budget’s stability rests on a delicate balance of assumptions, where even modest shocks could quickly test fiscal limits. Offsetting these will require disciplined policy execution, credible revenue mobilisation and a sustained effort to build fiscal buffers against uncertainty. Copyright Business Recorder, 2026 [...]

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فیلڈ مارشل عاصم منیر نے معاہدے کا مسودہ تیار کرکے ٹائپ بھی خود کیا: فیصل واوڈا

June 15, 2026 6:06

سینیٹر فیصل واوڈا : فائل فوٹو سینیٹر فیصل واوڈا نے کہا ہے کہ امریکا ایران امن معاہدہ فیلڈ مارشل عاصم منیر کی وجہ سے ممکن ہوا ہے۔جیو... [...]

اسلامیہ یونیورسٹی بہاولپور میں بیہوش طالب علم اسپتال منتقلی کے دوران دم توڑ گیا

June 15, 2026 4:06

اسلامیہ یونیورسٹی۔اسلامیہ یونیورسٹی میں بے ہوش طالب علم اسپتال منتقلی کے دوران دم توڑ گیا۔بہاولپور میں ریسکیو سروس کے مطابق... [...]

پہلی اسٹیٹ آف فریڈم رپورٹ 2026 جاری، مرد خواتین سے زیادہ موبائل فون رکھتے ہیں، مشعل پاکستان

June 15, 2026 3:06

تصویر سوشل میڈیا۔مشعل پاکستان نے پاکستان کی پہلی اسٹیٹ آف فریڈم رپورٹ 2026 جاری کر دی، جس کے مطابق خواتین کے موبائل فون رکھنے کی شرح... [...]

پیپلز پارٹی سے شیئر کیے گئے اور پیش کیے گئے بجٹ میں فرق ہے: ذرائع

June 15, 2026 3:06

ذرائع کا کہنا ہے کہ حکومت کی جانب سے پاکستان پیپلز پارٹی سے شیئر کیے گئے بجٹ اور پیش کیے گئے بجٹ میں فرق ہے۔ ذرائع نے بتایا کہ بلاول... [...]

آسٹریلوی وزیراعظم کا چکوال میں بچی کی ہلاکت واقعے کی شفاف تحقیقات کا مطالبہ

June 15, 2026 3:06

آسٹریلیا کے وزیراعظم انتھونی البانیز نے پاکستان میں چھٹیاں گزارنے کے دوران 9 سالہ آسٹریلوی بچی ہانیہ احمد کی ہلاکت کے واقعے پر مکمل... [...]

ایران امریکا جنگ اور تیل کی قیمتوں میں اضافے سے مہنگائی کی لہر آئی، احسن اقبال

June 15, 2026 3:06

وفاقی وزیر منصوبہ بندی احسن اقبال۔وفاقی وزیر منصوبہ بندی احسن اقبال نے کہا ہے کہ گزشتہ مالی سال کی پہلی 3 سہ ماہی میں مہنگائی کی شرح... [...]

وفاقی حکومت نے دن دہاڑے خیبر پختونخوا کے 109 ارب پر ڈاکا ڈالا، میاں افتخار

June 15, 2026 3:06

میاں افتخار حسین۔عوامی نیشنل پارٹی کے صوبائی صدر میاں افتخار حسین نے کہا ہے کہ وفاقی حکومت نے دن دہاڑے خیبر پختونخوا کے 109 ارب روپے... [...]

چکوال میں جاں بحق بچی کے والد کا مبینہ آڈیو بیان سامنے آگیا، کیس ہائی پروفائل ڈکلیئر

June 15, 2026 3:06

اسکرین گریب/ جیو نیوز چکوال میں جاں بحق بچی کے والد کا مبینہ آڈیو بیان سامنے آگیا، کیس کو ہائی پروفائل ڈکلیئر کردیا گیا۔آڈیو بیان... [...]

چاند نظر نہیں آیا، ملک بھر میں یکم محرم 17، یوم عاشور 26 جون کو ہوگا

June 15, 2026 2:06

فوٹو: فائلمحرم الحرام 1448 ہجری کا چاند نظر نہیں آیا، ملک بھر میں یکم محرم الحرام 17 جون جبکہ یوم عاشور 26 جون کو ہوگا۔ چیئرمین رویت ہلال... [...]

شوکت نواز کے بہنوئی پروفیسر واجد کا کالعدم عوامی ایکشن کمیٹی سے اظہار لاتعلقی

June 15, 2026 2:06

فائل فوٹو آزاد کشمیر میں کالعدم قرار دی گئی جوائنٹ ایکشن کمیٹی سے متعلق اہم بیان سامنے آیا ہے۔ شوکت نواز کے بہنوئی پروفیسر واجد نے... [...]

بی آر ٹی ریڈ لائن پر کاٹے گئے درختوں کی جگہ طلبہ کی از خود شجر کاری مہم

June 15, 2026 2:06

چار برسوں کے دوران درختوں کی کٹائی کا ایک منظر۔بی آر ٹی ریڈ لائن پر درخت بڑے پیمانے پر کاٹے گئے ہیں جبکہ اس کی جگہ نئے درختوں کی کمی... [...]

چکوال: معصوم حانیہ کے جاں بحق ہونے کے بعد سی سی ڈی سربراہ کا غلطی کا اعتراف

June 15, 2026 2:06

اسکرین گریب/ جیو نیوز چکوال میں 10 جون کی رات ڈکیتی کی مسلسل چار گھنٹوں تک جاری رہنے والی پے در پے وارداتوں نے مقامی پولیس کی صلاحتیوں... [...]

لکی مروت: جبار خیل میں نامعلوم افراد کی فائرنگ، 4 افراد کا قتل

June 15, 2026 2:06

علامتی تصویر۔لکی مروت کے علاقے جبار خیل میں نامعلوم افراد نے فائرنگ کرکے 4 افراد کو قتل کر دیا۔ اس حوالے سے مقامی پولیس نے بتایا کہ... [...]

اسلام آباد ہائیکورٹ: ملزم کی طبی بنیادوں پر درخواست ضمانت، میڈیکل سپرنٹنڈنٹ کو شوکاز نوٹس

June 15, 2026 1:06

فوٹو: فائلجیل میں علاج کی سہولت نہ ہونے پر ملزم احمد عزیز کی طبی بنیادوں پر ضمانت کی درخواست کے کیس میں اسلام آباد ہائیکورٹ نے میڈیکل... [...]

نہ حکومت بتاسکتی ہے نہ ہی اپوزیشن کہ بجٹ کیسا ہے: سینیٹر فیصل جاوید

June 15, 2026 1:06

فوٹو: فائلپاکستان تحریک انصاف کے سینیٹر فیصل جاوید خان نے کہا کہ نہ حکومت بتاسکتی ہے نہ ہی اپوزیشن کہ بجٹ کیسا ہے۔ بجٹ کے حوالے سے عام... [...]

ایران کو 3 سو ملین ڈالرز دینے کی باتیں جھوٹی خبر ہے، ڈونلڈ ٹرمپ

June 15, 2026 11:06

فائل فوٹوامریکا کے صدر ڈونلڈ ٹرمپ نے کہا ہے کہ امریکا کی جانب سے ایران کو تین سو ملین ڈالرز دینے کی باتیں جھوٹی خبر ہیں۔ اپنے بیان میں... [...]

امریکا میں بی 52 طیارہ تباہ ہونے سے 8 افراد ہلاک ہوگئے، روسی میڈیا

June 15, 2026 10:06

تصویر بشکریہ غیرملکی میڈیاامریکا کی ریاست کیلیفورنیا کے جنوبی علاقے میں فضائیہ کا بی ففٹی ٹو بمبار طیارہ گر کرتباہ ہوگیا۔ روسی... [...]

میں اور ٹرمپ کبھی متفق ہوتے ہیں کبھی اختلاف ہوتا ہے، نیتن یاہو

June 15, 2026 10:06

اسرائیلی وزیراعظم نیتن یاہو نے ایران امریکا ڈیل پر رد عمل دیتے ہوئے کہا ہے کہ ٹرمپ اور وہ ساتھی ہیں، کبھی متفق ہوتے ہیں کبھی اختلاف... [...]

مسجد الحرام میں غلاف کعبہ کی تبدیلی کی پروقار تقریب

June 15, 2026 9:06

مکہ المکرمہ میں غلاف کعبہ کی تبدیلی کی پر وقار تقریب منعقد ہوئی۔کسوہ Kiswa فیکٹری کے 250 ماہرین اور حرمین انتظامیہ کے کارکنان نے تبدیلی... [...]

آبنائے ہرمز میں قشم جزیرے کے جنوب میں 3 دھماکے سنے گئے

June 15, 2026 9:06

فائل فوٹوآبنائے ہرمز میں قشم جزیرے کے جنوب میں 3 دھماکے سنے گئے ہیں۔ایرانی میڈیا کے مطابق دھماکوں کا تعلق ممکنہ طور پر ٹریفک... [...]

حماس کا امریکا ایران معاہدے کا خیر مقدم، غزہ و لبنان میں اسرائیلی جارحیت کے خاتمے کیلئے پُرامید

June 15, 2026 6:06

علامتی تصویر۔فلسطینی مزاحمتی تنظیم حماس نے امریکا ایران معاہدے کا خیر مقدم کیا ہے۔ ترجمان حماس نے کہا ہے کہ امید ہے معاہدے سے غزہ... [...]

ایران کو تعمیرات کی مد میں 300 ارب ڈالر کچھ شرائط کے ساتھ مل سکتے ہیں، جے ڈی وینس

June 15, 2026 6:06

جے ڈی وینس - فوٹو: فائلامریکی نائب صدر جے ڈی وینس کا کہنا ہے کہ ایران کو تعمیرات کی مد میں 300 ارب ڈالر کچھ شرائط کے ساتھ مل سکتے ہیں، یہ... [...]

میناب: ایران پر امریکا اسرائیل حملوں کے پہلے دن شہید ہونیوالے 152 افراد کی شناخت

June 15, 2026 6:06

شہید بچے بچیاں۔ایران پر امریکا اور اسرائیل کے حملوں کے پہلے دن میناب کے پرائمری اسکول میں شہید ہونے والے 152 افراد کی شناخت کر لی... [...]

سعودی عرب اور یو اے ای میں محرم الحرام کا چاند نظر آگیا

June 15, 2026 6:06

سعودی عرب اور متحدہ عرب امارات میں محرم الحرام کا چاند نظر آگیا۔خلیجی ریاستوں میں یکم محرم الحرام 16 جون بروز منگل جبکہ یوم عاشورہ 25... [...]

عالمی منڈی میں خام تیل کی قیمت میں 7 فیصد کمی

June 15, 2026 5:06

عالمی منڈی میں خام تیل قیمت میں 7 فیصد سے زائد کمی ہوئی ہے۔لندن سے موصولہ اطلاعات کے مطابق ڈبلیو ٹی آئی خام تیل 80 ڈالر فی بیرل کی سطح پر... [...]

ایران نے رویہ بدلا تو اس پر عائد پابندیاں اٹھا سکتے ہیں: صدر یورپی کمیشن اُرسلا واندرلین

June 15, 2026 5:06

اُرسلا واندرلین یورپی کمیشن کی صدر اُرسلا واندرلین کا کہنا ہے کہ ایرانی برتاؤ میں قابل اعتماد اور قابل تصدیق تبدیلی ہوئی تو ایران پر... [...]

معاہدے پر تکنیکی بات چیت اس ہفتے کے آخر میں ہوگی: امریکی عہدیدار

June 15, 2026 5:06

علامتی فوٹوایک امریکی عہدیدار نے نام نہ بتانے کی شرط پر خبر ایجنسی سے گفتگو میں کہا ہے کہ معاہدے پر تکنیکی بات چیت اس ہفتے کے آخر میں... [...]

پابندیوں میں نرمی اس وقت تک نہیں ہوگی جب تک ایران وہ نہ کرے جو اس کو کرنا ہے، ڈونلڈ ٹرمپ

June 15, 2026 4:06

ڈونلڈ ٹرمپ: فوٹو اے ایف پی امریکی صدر ڈونلڈ ٹرمپ کا کہنا ہے کہ ایران معاہدے کا مسودہ جمعے کے بعد کسی بھی وقت جاری کریں گے، معاہدے کا... [...]

معاہدے پر اسرائیلی ردِعمل اس بات کا ثبوت ہے کہ ہم فاتح رہے ہیں، ایرانی صدر

June 15, 2026 4:06

ایرانی صدر مسعود پزشکیان۔ایرانی صدر مسعود پزشکیان نے کہا ہے کہ ایران فاتح بن کر سامنے آیا ہے۔تہران میں تقریب سے خطاب کرتے ہوئے... [...]

مفاہمتی یادداشت پر امریکا اور ایران نے دستخط کر دیے: جے ڈی وینس

June 15, 2026 3:06

فوٹو: فائلامریکی نائب صدر جے ڈی وینس نے کہا ہے کہ امریکا اور ایران نے مفاہمتی یادداشت پر دستخط کر دیے ہیں۔ امریکی نائب صدر جی ڈی وینس... [...]

اسٹیٹ بینک کا شرحِ سود برقرار رکھنے کا فیصلہ

June 15, 2026 10:06

—فائل فوٹواسٹیٹ بینک آف پاکستان نے مانیٹری پالیسی کا اعلان کرتے ہوئے شرح سود 11.5 فیصد پر برقرار رکھنے کا فیصلہ کیا ہے۔ مرکزی بینک کی... [...]

سونے کی قیمتوں میں بڑا اضافہ، فی تولہ کتنا مہنگا؟

June 15, 2026 9:06

---فائل فوٹوملک بھر کی صرافہ مارکیٹوں میں سونے کی قیمتوں میں بڑا اضافہ ریکارڈ کیا گیا ہے۔آل پاکستان صرافہ جیمز اینڈ جیولرز ایسوسی... [...]

سندھ کا بجٹ 17 جون کو پیش کیا جائے گا

June 15, 2026 9:06

سندھ کا مالی سال برائے 27-2026ء کا بجٹ بدھ 17جون کو پیش کیا جائے گا۔ذرائع محکمۂ خزانہ کے مطابق نئے مالی سال کا بجٹ وزیرِ اعلیٰ سندھ... [...]

ایف بی آر کی ٹیکس اپیلوں کیلئے آزاد جانچ کمیٹی قائم کرنے کی تجویز

June 15, 2026 6:06

---فائل فوٹو فنانس بل میں ایف بی آر کی جانب سے ٹیکس اپیلوں کی جانچ کے لیے ایک آزاد کیس اسکروٹنی کمیٹی قائم کرنے کی تجویز دی گئی... [...]

کراچی پورٹ کی ایک اور کامیابی، 8 سال بعد 2 ہزار جہازوں کی آمد کا سنگِ میل عبور

June 15, 2026 5:06

---فائل فوٹو وفاقی وزیرِ بحری امور جنید انوار چوہدری کی جانب سے کراچی پورٹ کی ایک اور کامیابی کا اعلان کر دیا گیا۔انہوں نے بتایا ہے کہ... [...]

ایران امریکا معاہدے کے اثرات، پاکستان اسٹاک ایکسچینج میں زبردست تیزی

June 15, 2026 4:06

ایران اور امریکا کے معاہدے کے اثرات کے باعث پاکستان اسٹاک ایکسچینج میں کاروباری ہفتے کے پہلے روز زبردست تیزی دیکھی جا رہی... [...]

امریکا ایران امن معاہدے کے بعد ایشیائی اسٹاک ایکسچینجز میں تیزی

June 15, 2026 3:06

---فوٹو بشکریہ بین الاقوامی میڈیا امریکا اور ایران نے تنازع کے خاتمے اور آبنائے ہرمز کو دوبارہ کھولنے کے لیے ایک ابتدائی مفاہمتی... [...]

لاہور میں دودھ اور دہی کی قیمتوں میں اضافہ

June 14, 2026 10:06

— فائل فوٹولاہور میں دودھ اور دہی کی قیمتوں میں اضافہ کردیا گیا۔شہر میں دودھ 200 روپے فی لیٹر سے بڑھ کر 220 روپے فی لیٹر تک فروخت کیا... [...]

ایف بی آر کے ڈیجیٹل نظام میں شامل نہ ہونے والوں پر بھاری جرمانے تجویز

June 14, 2026 7:06

---فائل فوٹوفیڈرل بورڈ آف ریونیو نے ڈیجیٹل نظام میں شامل نہ ہونے والوں پر بھاری جرمانے تجویز کر دیے۔ایف بی آر سے کاروبار کا ڈیجیٹل... [...]

عالمی منڈی میں خام تیل مزید سستا ہو گیا

June 14, 2026 5:06

—فائل فوٹوامریکا ایران ڈیل کے امکانات پر عالمی مارکیٹ میں خام تیل کی قیمتوں میں مزید 3 فیصد کمی ہو گئی۔ ویسٹ ٹیکساس انٹرمیڈیٹ خام... [...]

ایف پی سی سی آئی نے وفاقی بجٹ کو کاروبار اور ترقی دوست قرار دیدیا

June 13, 2026 1:06

فیڈریشن آف پاکستان چیمبر آف کامرس اینڈ انڈسٹری نے وفاقی بجٹ 27-2026ء کو کاروبار اور ترقی دوست قرار دیدیا۔ایف پی سی سی آئی نے... [...]

اس بجٹ میں غریب کے لیے کچھ بھی نہیں: بیرسٹر گوہر

June 13, 2026 9:06

چیئرمین پی ٹی آئی بیرسٹر گوہر---فائل فوٹوچیئرمین پی ٹی آئی بیرسٹر گوہر نے کہا ہے کہ ہمیں آج ہی بانئ پی ٹی آئی تک رسائی چاہیے۔قومی... [...]

پاکستان اسٹاک ایکسچینج: بجٹ کاروباری ہفتے میں ملا جلا رجحان رہا

June 13, 2026 8:06

---فائل فوٹوپاکستان اسٹاک ایکسچینج میں بجٹ کاروباری ہفتے میں ملا جلا رجحان رہا۔کاروباری ہفتے کے اختتام پر 100 انڈیکس 1920 پوائنٹس کے... [...]

بجٹ میں ہم نے ٹیکس اور ایکسپورٹ کے نظام کیلئے کام کیا: وزیرِ خزانہ محمد اورنگزیب

June 13, 2026 8:06

تصویر، جیو نیوز اسکرین گریبوفاقی وزیرِ خزانہ محمد اورنگزیب نے کہا ہے کہ بجٹ میں ہم نے ٹیکس اور ایکسپورٹ کے نظام کے لیے کام کیا۔اسلام... [...]

بجٹ میں شپنگ انڈسٹری پر 18 فیصد سیلز ٹیکس کا خاتمہ تاریخی ریلیف ہے: وفاقی وزیرِ بحری امور

June 13, 2026 6:06

وفاقی وزیرِ بحری امور محمد جنید انور چوہدری---فائل فوٹو وفاقی وزیرِ بحری امور محمد جنید انور چوہدری نے کہا ہے کہ بجٹ 27-2026ء میں شپنگ... [...]

The biggest risk to your retirement isn’t a market crash — it’s a crisis you probably haven’t planned for

June 16, 2026 12:34

Health-related financial risks are the No. 1 threat to retirement security. [...]

How to work in retirement without seeing your Social Security checks slashed

June 16, 2026 12:11

Claiming benefits before full retirement age while keeping a job can trigger unexpected withholdings — but the money isn’t lost forever. [...]

Need a credit-score boost? Call your credit-card company and ask for this — but proceed with caution.

June 15, 2026 11:07

A credit-limit increase can help strained borrowers improve how their financial picture looks on paper. [...]

Roku’s sale to Fox for $22 billion raises a big question

June 15, 2026 11:03

Roku’s stock is rallying to a four-year high after agreeing to be bought by Fox in a deal valued at $22 billion. [...]

Here’s when gas prices will come down if the U.S. deal to end the Iran war pans out

June 15, 2026 10:31

The average retail gasoline price was just above the psychologically significant $4-per-gallon mark on Monday. [...]

Options traders are bracing for a very busy week, with June ‘triple witching’ and launch of SpaceX contracts on deck

June 15, 2026 10:24

Options traders are bracing for what could be a very busy few days as a number of potentially market-moving developments are being crammed into a shortened four-day trading week. [...]

I’m 55 and earn $100,000. Should I take a $2,900 monthly pension — or $2,200 with 3% annual hikes?

June 15, 2026 10:22