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Flight diversions swamp Karachi airport

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KARACHI: Escalating tensions in the Middle East on Saturday disrupted regional air travel, prompting flight suspensions, cancellations and route diversions across Pakistani airports. While Pakistan’s airspace remains fully available and secure, airlines have adjusted operations in response to the evolving security situation and restrictions in neighbouring airspace. Karachi’s Jinnah International Airport witnessed extraordinary activity, with dozens of flights of foreign airlines diverted to Karachi, creating scenes reminiscent of the 1990 Gulf crisis. According to aviation sources, a large number of foreign airlines were rerouted to Karachi as regional airspace restrictions…

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PM orders repatriation of Pakistanis from Iran

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Prime Minister Shehbaz Sharif has directed the Ministry of Foreign Affairs to take all necessary steps to ensure the safe repatriation of Pakistanis stranded in Iran. The premier chaired a high-level review meeting on Saturday regarding the overall security situation in the country following the US-Israeli attack on Iran and Iran’s retaliatory attacks. Referring to the Pakistanis currently visiting Iran, the PM directed that all citizens should be brought back safely to Pakistan via Azerbaijan. In this regard, he directed the Ministry of Foreign Affairs to immediately contact the government…

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Pakistan in delicate balancing act

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ISLAMABAD: Pakistan on Saturday condemned both the Israeli and US strikes against Iran and Iran’s retaliatory attacks on several Gulf countries, in what appears to be a carefully calibrated diplomatic response aimed at maintaining balance amid a rapidly escalating regional crisis. In a strongly worded statement, the Foreign Office expressed regret over the “breakdown of talks and outbreak of hostilities” in the Middle East, saying the attacks on Iran came at a time when diplomatic efforts were underway to secure a peaceful and negotiated settlement. “These attacks will undermine the…

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Naqvi informs PM of work permits deal, visa waivers for Pakistanis after European talks

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Prime Minister Muhammad Shehbaz Sharif was briefed on Sunday by Federal Interior Minister Mohsin Naqvi on the outcomes of his recent participation in two high-level multilateral meetings held in Europe. Naqvi informed Shehbaz of his attendance at a four-nation interior ministers’ meeting in Rome, Italy, which brought together counterparts from Pakistan, Italy, Spain, and Greece. He also briefed the premier on a separate six-country meeting held in Poland, attended by the interior ministers of Pakistan, Poland, Latvia, Finland, Estonia, and Lithuania. Read: EU to bolster Pakistan’s capacity-building efforts Both conferences resulted in…

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Gold stable, silver rises in local and international markets

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KARACHI: Gold prices remained stable in both international and local markets on Friday, while silver saw a moderate increase. In the international bullion market, the price of gold per ounce held steady at $5,178. In Pakistan, the price of gold per tola remained unchanged at Rs 540,562, while per 10 grams it stayed at Rs 463,444. Silver prices, however, recorded an increase. The price per tola rose by Rs 270 to reach Rs 9,474, while per 10 grams it increased by Rs 232 to Rs 8,122. Spot gold edged down…

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Pakistan ‘well-positioned’ for IMF review to unlock $1.2b fund: FinMin

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Pakistan is well-positioned for the International Monetary Fund (IMF) review of a $1.2 billion tranche, Finance Minister Muhammad Aurangzeb said on Wednesday, as the IMF mission begun discussions in Karachi. The staff mission will conduct the third review under the IMF’s Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), according to official statements from the IMF and Ministry of Finance. The IMF mission, led by Iva Petrova, arrived in Pakistan today and will remain until March 11 to complete the two reviews. Successful completion of the reviews…

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Govt eyes $2.5b in mobile exports

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ISLAMABAD: Pakistan has set mobile and IT equipment export target at $2.5 billion by switching from gadget assembly to manufacturing by 2033 under the new device and electronics manufacturing policy. To meet the goal, the government expects export of 21.6 million mobile phones and development of a workforce of 75,000 skilled workers over the next seven years to support full-scale manufacturing. According to official projections, exports will start rising sharply after 2027, when 0.16 million mobile units are expected to be shipped overseas, which will jump to 1.82 million units…

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IT secretary dismisses claims of firewall shutdown as baseless

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ISLAMABAD: The Ministry of Information Technology’s secretary has dismissed reports of a firewall shutdown as baseless, confirming that the web monitoring system remains fully operational and is being used to comply with court orders. The National Assembly’s Standing Committee on Information Technology and Telecom held a detailed meeting to discuss the upcoming 5G spectrum auction, the status of the web monitoring system (firewall), and IT export-related matters. During the session, the Pakistan Telecommunication Authority (PTA) chairman briefed the committee on the 5G spectrum auction, scheduled for March 10 at a local hotel in…

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Attock Cement’s acquisition approved

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ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the proposed acquisition of Attock Cement by Fauji Cement Company and Kot Addu Power Company, following a phase-I competition assessment conducted under the Competition Act, 2010. On February 3, 2026, Fauji Cement and Kot Addu Power filed a pre-merger application for the acquisition of controlling interest in Attock Cement from Pharaon Investment Group Limited. The proposed acquisition is pursuant to the Scheme of Compromises, Arrangement, and Reconstruction agreement dated January 30, 2026. Upon completion of transaction, Fauji Cement and Kot Addu…

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Big firms urge IMF policy certainty

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ISLAMABAD: Pakistan’s top conglomerates on Thursday urged the International Monetary Fund (IMF) to ensure predictability and a long-term view of economic policies, while the visiting mission chief underscored the need for phased economic growth instead of accelerating the pace abruptly. The large firms also demanded that the IMF allow time-bound tax and other incentives to revive exports, which have dropped by more than 7% during the first seven months of the current fiscal year. Representatives of around one-and-a-half dozen top corporations, including foreign-origin and local firms, met the Iva Petrova-led…

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