Category: Featured

FinMin calls Pakistan’s blue economy ‘game-changing sector’ with huge potential

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Finance Minister Muhammad Aurangzeb has called Pakistan’s blue economy a “game-changing sector” with huge potential, saying it currently contributes around 0.4% to 0.5% of GDP, roughly one billion dollars. Speaking at a virtual maritime conference, he said the Ministry of Maritime Affairs has set an ambitious but achievable target to grow the sector to $100 billion by 2047. “This billion dollars getting to a 100 billion blue economy number by the time we get to 2047 is transformational, and it’s the right ambition that we have set ourselves as we…

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FinMin says economy moving in right direction with ‘visible progress’

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ISLAMABAD: Finance Minister Muhammad Aurangzeb on Monday said that Pakistan’s economy was on a positive trajectory, stressing that the government’s primary goal was to achieve long-term, sustainable stability. Speaking at a press conference alongside the government’s economic team, Aurangzeb said the government has made “notable progress” toward achieving macroeconomic stability, noting that the recently concluded staff-level agreement with the International Monetary Fund (IMF) reaffirms Pakistan’s ongoing economic recovery efforts. He said that the government’s primary objective is to ensure sustainable economic stability through structural reforms. “Fundamental reforms in the tax…

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PSX extends rebound as earnings, IMF payout hopes lift sentiment

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The bourse advanced as the market leaned into an approaching International Monetary Fund (IMF) payout and signs of regional stabilisation, while earnings momentum, rupee stability and rising oil boosted confidence. “Bullish activity witnessed on strong earnings outlook and imminent receipt of IMF tranche,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities. “Rupee stability and surging global crude oil prices played a catalyst role in bullish activity at PSX,” he added. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 162,803.15 points, up 1,171.42 points, or 0.72%,…

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Bilawal says PM Shehbaz sought PPP’s backing for 27th Constitutional Amendment

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Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari said that Prime Minister Shehbaz Sharif has asked his party to support the 27th Constitutional Amendment, which proposes establishing a Constitutional Court. In a post on X, Bilawal said a Pakistan Muslim League-Nawaz (PML-N) delegation, led by PM Shehbaz, met President Asif Ali Zardari and sought PPP’s backing for the amendment. Bilawal said that as per the proposals, the tweak also seeks to amend Article 243 — which pertains to the supreme command of the armed forces — as well as several…

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No room for Taliban regime’s excuses after joint monitoring mechanism: Tarar

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Information Minister Attaullah Tarar said on Sunday that Kabul will be bound to take action against militants operating from Afghan territory after both sides agreed to form a joint monitoring and verification mechanism with third-party participation. His remarks came after Turkiye’s Foreign Ministry issued a joint statement saying that Islamabad and Kabul agreed to maintain the ceasefire, as well as decided to establish a monitoring and verification mechanism to ensure peace and penalise any violator. The understanding was reached during the recent talks, held in Istanbul from October 25 to…

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No-trust motion against AJK premier planned within four days, says minister

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Azad Jammu and Kashmir (AJK) Law Minister Abdul Waheed said on Sunday that a no-confidence motion against Prime Minister Chaudhry Anwarul Haq would be moved within four days. His comments come amid ongoing political uncertainty in the autonomous region, as Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari asserted that his party had secured the required numbers to form a government in AJK. The AJK law minister, in a statement, said the no-confidence motion had been delayed due to consultations with stakeholders, and would be presented within three to four days.…

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Zardari to attend Social Development Summit in Qatar

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President Asif Ali Zardari is set to participate in the Second World Summit for Social Development, taking place in Doha, Qatar, from November 4 to 6 under the auspices of the United Nations General Assembly. The summit will bring together world leaders and policymakers to discuss ways of advancing social development, promoting decent work and employment opportunities, as well as strengthening inclusive safety nets, the President’s Secretariat said. On the sidelines, the president will hold important meetings with global and regional leaders, including the leadership of Qatar, as well as…

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FM Dar to push for Gaza ceasefire implementation at Istanbul meeting

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ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar will attend an Arab-Islamic Foreign Ministers’ meeting in Istanbul on Monday to advocate full enforcement of the Gaza ceasefire, the Foreign Office said. The meeting, hosted by Turkish Foreign Minister Hakan Fidan, will discuss the implementation of the Gaza Peace Agreement and regional efforts to consolidate the ceasefire, read the statement. According to the statement, Pakistan — which has remained engaged with the Arab-Islamic peace initiative that led to the signing of the Gaza Peace Agreement in Sharm El-Sheikh — will…

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JI chief lashes out at Sindh govt over e-challan system

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Jamaat-e-Islami (JI) Emir Hafiz Naeem ur Rehman has pledged to free Karachi from  “land grabbing and the corrupt system,” criticising the Sindh government for the city’s deteriorating infrastructure. Addressing a ceremony on Sunday, Rehman said that despite facing several challenges, JI’s elected representatives were striving to serve citizens “beyond their capacity.” “Karachi’s roads are not even built, yet citizens are receiving e-challans worth thousands,” he said and added: “We will liberate this city from the system of loot and land-grabbing.” The JI chief said development work had resumed in nine…

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