Two months after American and Israeli forces first struck Iranian targets, the conflict has settled into a tense and unstable pause. A ceasefire reached on April 7 has been held, with no exchanges of fire since. But the Strait of Hormuz remains closed to most shipping, the United States Navy continues its blockade of Iranian oil ports, and global energy markets are on edge. Oil prices have climbed above $120 a barrel at times, gasoline costs in the United States are rising, and the United Nations secretary-general has warned that a prolonged chokehold on this vital waterway will drag down global growth, fuel inflation, and push tens of millions more people into poverty and hunger.
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Trump receives briefing on Iran options as new supreme leader wows to safeguard nuclear program amid surging oil prices and Hormuz standoff
ISLAMABAD: President Donald Trump will receive a classified briefing on Thursday on US military options for the Strait of Hormuz and potential actions inside Iran, as the administration grapples with a punishing naval blockade that has driven energy prices to their highest levels in years and shown no sign of breaking an impasse with Tehran.
Islamabad keeps lines open to Washington and Tehran, urges immediate reopening of vital oil chokepoint
ISLAMABAD: The Foreign Office said Thursday that Islamabad remains deeply engaged with both Washington and Tehran in an effort to broker a resolution to their conflict, even as a second round of direct negotiations failed to materialize and the strategic Strait of Hormuz stayed closed for a second month.
Pakistan unveils Rs3.2 trillion housing program to build 500,000 homes and revive construction-led growth
ISLAMABAD: Prime Minister Shehbaz Sharif formally launched a five-year, Rs3.2 trillion housing initiative on Thursday, committing the government to finance the construction of 500,000 homes nationwide as part of a broader effort to stimulate economic activity and address a chronic shortage of affordable shelter.
Cambridge confirms leak of AS-level math paper in Pakistan and other regions
KARACHI: Cambridge International Education said on Thursday that one of its AS-level mathematics examinations had been shared prematurely in violation of its rules, confirming long-circulating reports that had already prompted an official request for information from Pakistani education authorities.
Pakistan flags external risks from Middle East conflict as inflation outlook ticks higher
ISLAMABAD: The finance ministry said on Thursday that the country’s external sector faces fresh risks from global uncertainties and supply disruptions tied to the Middle East conflict, even as a healthy primary fiscal balance and three straight months of current-account surpluses underpin domestic stability.
PM Sharif extends fuel subsidies for motorcyclists and transporters by one month
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday extended by one month the fuel subsidies for motorcyclists, public-transport operators and goods transporters, aiming to shield economically vulnerable segment from the sharp rise in global oil prices triggered by the conflict in the Middle East.
Pakistan reassigns three Islamabad High Court judges amid sharp criticism over opaque process
ISLAMABAD: The Ministry of Law and Justice on Wednesday notified the transfer of three judges from the Islamabad High Court to other provincial high courts, a day after the Judicial Commission of Pakistan approved the moves in a decision that immediately drew sharp criticism from lawyers’ organizations for what they described as a lack of transparency and uniform standards.
Pakistan’s $7 billion IMF program faces derailment risk as Iran conflict drives commodity shock, Oxford Economics says
ISLAMABAD: Commodity price shocks triggered by the US-Israel war against Iran are exposing Pakistan’s deep external vulnerabilities and threaten to delay or even derail the country’s $7 billion International Monetary Fund loan program, global economic advisory firm Oxford Economics warned in a recent report.
Competition regulator approves complete sale of loss-making PIA to Arif Habib-Led Consortium
ISLAMABAD: The Competition Commission of Pakistan has approved the acquisition of the remaining 25% stake in Pakistan International Airlines by a consortium led by Arif Habib Corp., completing the full privatization of the national carrier and handing control to private investors less than four months after they bought a 75% holding.