ISLAMABAD: Pakistan’s virtual assets regulator warned financial institutions on Monday that any agreement, memorandum of understanding or pilot program involving virtual assets — including stablecoins used for remittances and cross-border payments — requires its explicit prior authorisation.
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Pakistan braces for southern heatwave as El Nino outlook sharpens
ISLAMABAD The meteorological authorities warned on Monday of mild heatwave conditions expected to grip the southern regions of the country later this week, even as a separate weather system promises temporary relief to the north and officials flagged the growing likelihood of a return of the El Niño climate pattern.
Constitutional Court temporarily restores govt power to inactivate passports and ban deportees from traveling
ISLAMABAD: Pakistan’s Federal Constitutional Court on Monday suspended a Lahore High Court ruling that had struck down key provisions of the Passport Rules 2021, temporarily reinstating the federal government’s authority to deactivate citizens’ passports and impose multiyear travel bans on people deported from abroad or suspected of involvement in human trafficking.
ECC signals easing inflation pressures, approves Rs5.985 billion to clear PIA dues
ISLAMABAD: The Economic Coordination Committee of the cabinet said on Monday that price increases for essential commodities have slowed after a temporary acceleration, as the government’s top economic panel also approved fresh funding to help clear remaining liabilities at the national airline days before its full handover to private owners.
Araghchi blames US “excessive demands” for stalled peace talks, consults allies in Pakistan, Oman and Russia
ISLAMABAD: Iranian Foreign Minister Abbas Araghchi arrived in Russia on Monday after a frantic three-day shuttle through Pakistan and Oman, telling his Russian hosts that Tehran was prepared to resume indirect negotiations with the United States — but only on terms that protect Iran’s core interests in the Persian Gulf and its nuclear program.
PM Sharif approves fans for all PSL playoff matches under austerity conditions
ISLAMABAD: Interior Minister and Pakistan Cricket Board chairman Mohsin Naqvi said on Monday that Prime Minister Shehbaz Sharif has given the green light for fans to attend all three remaining Pakistan Super League playoff matches.
SBP raises rates 100 basis points in first hike in nearly three years as Middle East conflict fuels inflation risks
KARACHI: Pakistan’s central bank lifted its key policy rate by 100 basis points to 11.5% on Monday, delivering its first increase in almost three years as the prolonged Middle East conflict drives up global energy prices and threatens to push inflation higher in the import-dependent economy.
Pakistan opens six overland routes for Iran-bound cargo as 3,000 containers pile up at Karachi
ISLAMABAD: Pakistan has designated six specific overland routes for the transit of goods bound for Iran, clearing the way for thousands of containers that have been stuck at its ports as Tehran’s maritime access remains curtailed under the US-Iran ceasefire.
Pakistan mobilises against HIV surge as Global Fund team prepares possible inspection visit
ISLAMABAD: Pakistan’s health authorities have ordered urgent reviews of syringe regulations and disease-control programs after reports that a team from the Global Fund to Fight AIDS, Tuberculosis and Malaria may soon arrive to examine a sharp rise in HIV infections, including more than 300 cases among children in one southern district linked to the reuse of contaminated syringes.
Pakistan waives up to 50 percent of port storage fees to shield exporters from Iran war fallout
KARACHI: The minister for maritime affairs announced on Sunday storage-charge waivers of as much as 50% at Karachi Port Trust terminals, aiming to ease the financial strain on exporters whose Gulf-bound shipments have been snarled by the conflict in Iran.