ISLAMABAD: The tax authority collected more than 13 trillion rupees ($46 billion) in the fiscal year that ended on Tuesday, surpassing a downwardly revised target and clearing a benchmark set by the International Monetary Fund, the Federal Board of Revenue said.
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Pakistan sees inflation relief in FY27 as Hormuz reopening eases price pressures
ISLAMABAD: Pakistan expects inflationary pressure to ease in the 2026-27 fiscal year after peaking near 12% in June, as the reopening of the Strait of Hormuz and a broader de-escalation in the Middle East help bring down global oil prices, the finance ministry said.
Police reportedly detain Rs10 million bounty leader Shaukat Nawaz Mir amid confusion over confirmation
MUZAFFARABAD: A senior leader of a banned Kashmiri activist group was reported arrested on Tuesday in a security operation in Azad Kashmir, though officials declined to confirm the development for hours, leaving conflicting accounts of where and how the detention took place.
Pakistan sets Jan 2028 deadline for interest-free banking shift, outlines transition roadmap
ISLAMABAD: The Ministry of Finance has finalised a strategy to steer the country’s financial system away from interest-based transactions, mandating that all new loans and financial contracts be structured on a Shariah-compliant basis starting Jan. 1, 2028, according to a policy paper.
Roof collapse kills 14 children at Lahore tuition centre
LAHORE: At least 14 children were killed and several more injured on Tuesday when the roof of a private tuition centre collapsed in the Kahna area of Lahore, officials said, in one of the deadliest accidents to strike Pakistan’s second-largest city in recent years.
Inflation seen easing in June as oil prices retreat, core pressures persist
KARACHI: Pakistan’s annual inflation rate is expected to moderate slightly in June, as falling global oil prices following a partial reopening of the Strait of Hormuz offset persistent increases in food costs, according to forecasts from two of the country’s leading brokerages released this week.
Behind a frozen Indus Waters Treaty, Pakistan warns the world of what comes next
ISLAMABAD: The Indus Waters Treaty has long stood as proof that two nuclear-armed rivals, locked for generations in dispute over Kashmir, could still manage to share a river. On Tuesday, in a packed hall at the Jinnah Convention Centre, a parade of Pakistan’s most senior officials argued that the 1960 agreement is now in genuine jeopardy, and asked the world to take notice before the damage spreads beyond South Asia.
PM Sharif to visit Iran, Turkey in fresh push to save Gulf truce
ISLAMABAD: Prime Minister Shehbaz Sharif will travel to Iran and Turkey from July 3 to 6 in a renewed push to shore up a fragile truce between Washington and Tehran, officials said on Tuesday.
Pakistan unveils draft policy declaring government data a national asset, opens public consultation
ISLAMABAD: The Ministry of Information Technology and Telecommunication has published a draft Data Governance Policy for 2026, opening it to public comment and casting government-held data as a strategic national asset that must be managed in trust for citizens rather than treated as the property of the agencies that hold it.
Pakistan’s Arslan Ash wins record eighth Evo title in Las Vegas
LAHORE: Pakistani esports star Arslan Siddique, known to fans worldwide as “Arslan Ash,” claimed his eighth Evolution Championship Series title on Monday, defeating South Korean rival Rangchu in the Tekken 8 final to extend his command of the world’s most prestigious fighting game tournament.