Author: S.M. Inam

By S.M. Inam KARACHI: Gold prices in Pakistan soared sharply on Monday following US-Israel strikes on Iran and escalating regional conflict, triggering a spike in both local and international markets. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola jumped by Rs13,300, reaching Rs563,862. Similarly, 10 grams of 24-karat gold climbed by Rs11,402 to Rs483,420, while 10 grams of 22-karat gold rose by Rs10,453 to Rs443,151. Internationally, gold per ounce surged by $133, reaching $5,411 amid rising geopolitical uncertainty. Silver prices in Pakistan also followed the upward trend. The price per tola…

By S.M. Inam KARACHI: Pakistan’s stock market witnessed its worst opening in history on Monday following the US and Israeli strikes on Iran, as investor panic spread across global markets. The benchmark KSE-100 Index fell sharply by 13,209 points during trading, closing at 154,852. The market faced heavy selling pressure right from the opening bell, pushing the index down further to 152,940 points after an initial drop of 15,121 points. At one point, the KSE-100 hit a low of 152,717 points. The KSE-30 Index declined by 9.42 percent, triggering a temporary suspension of trading for 45 minutes. The market reopened…

The PBC has called for a rationalization of advance and withholding tax regimes, warning that they function as de facto minimum taxes and stifle investment and economic growth By S.M. Inam/ Mehrab Shah Afridi ISLAMABAD: Both multinational and major local companies have urged the International Monetary Fund to abolish the super tax, reduce corporate rates gradually, and rationalize advance and withholding taxes to ease the burden on compliant businesses, Daily Metro Morning reported on Sunday. The visiting IMF review mission held separate meetings with the Overseas Investors Chamber of Commerce & Industries (OICCI), representing over 200 multinational firms, and the…

By S.M. Inam ISLAMABAD: Pakistan has taken a major step to strengthen its energy sector by awarding 11 onshore blocks for oil and gas exploration. The Ministry of Energy, Petroleum Division, announced the deals on Thursday, highlighting efforts to increase domestic energy output and attract new investment. The signing ceremony for the Petroleum Concession Agreements and Exploration Licences was held in Islamabad, with Minister for Petroleum, Ali Pervaiz Malik, senior officials, and industry representatives in attendance. The agreements are projected to bring 8.66 billion rupees in investment over the next three years, along with 276 million rupees allocated for social…

By S.M. Inam KARACHI: Global markets saw crude oil and gold prices surge to six-month highs as escalating tensions between the United States and Iran stoked fears of potential conflict in the Middle East. On Monday, Brent crude rose by 62 cents to $71.39 per barrel, while US crude climbed 37 cents to $66.21 per barrel, marking the highest levels since late 2025. Analysts attributed the spike to growing uncertainty over energy supplies amid the geopolitical crisis. Gold also experienced a notable jump, gaining $107 to surpass $5,200 per ounce, driven by investors seeking safe-haven assets amid mounting instability. Former…

By S.M. Inam ISLAMABAD: SOMALIA is advancing high-level negotiations to acquire up to 24 JF-17 Thunder fighter aircraft from Pakistan in what would mark the country’s most significant military procurement since the end of the Cold War and a decisive step towards rebuilding an air combat capability lost after the collapse of the state in 1991. The discussions are centred on the advanced Block III variant of the multi-role jet and form part of a multi-phase package valued at about $900m, according to sources familiar with the talks. If finalised, the agreement would signal a major shift in the security…

By S.M. Inam KARACHI: The 18th Lamp Lighting and Oath-Taking Ceremony of the MBJ School of Nursing at Kharadar General Hospital marked a milestone for the graduating cohort and reaffirmed the institution’s commitment to excellence in healthcare education. The event was attended by former federal minister for commerce, industry and production Dr Gauhar Ejaz as chief guest. He praised the hospital’s dedicated services and state-of-the-art nursing school. Highlighting the transformative power of charity, Zakat, and helping others in the path of Allah, he said true societal progress begins with improving the lives of ordinary people. Dr Ejaz acknowledged the pivotal…

By S.M. Inam KARACHI: The International Monetary Fund (IMF) is in discussions with Pakistani authorities over proposed electricity tariff revisions, stressing that the burden should not fall on middle- or lower-income households. “The ongoing discussions with the authorities will assess whether the proposed tariff revisions are consistent with these commitments and evaluate their potential impact on macroeconomic stability, including inflation,” the Fund said on Saturday. The federal government recently announced a proposed overhaul of electricity tariffs, a move analysts warn could lift inflation while easing pressure on industry. The changes form part of Pakistan’s obligations under its $7 billion Extended…

By S.M. Inam ISLAMABAD: Federal Finance Minister Mohammad Aurangzeb has said that the government cannot provide employment for Pakistan’s population of 250 million, stressing that job creation is the responsibility of the private sector. Speaking at the FPCCI in Lahore, Aurangzeb said the government’s focus was on digitalizing the economy to increase transparency and broaden the tax base. “The salaried class pays more tax and must be given relief,” he said, underlining the importance of easing pressure on income earners. He highlighted ongoing work in the construction sector, noting efforts to separate real estate from construction for regulatory clarity while…

By S.M. Inam KARACHI: The Sindh Institute of Cardiovascular Diseases (SICVD) has emerged as a flagship initiative of the provincial government, expanding over 17 years into 11 hospitals and 30 Chest Pain Units across the province, and earning recognition as the world’s largest primary cardiac stenting program. Officials said that all services under the program are provided free of charge, making advanced cardiac care accessible to patients regardless of financial means. SICVD’s Karachi facility, a cornerstone of the network, treated nearly 200,000 patients from across Pakistan in 2025 alone, underscoring its pivotal role in delivering critical healthcare services at no…