Author: S.M. Inam

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 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 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 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…

Aurangzeb hailed the IFC and ADB for their enduring support of Pakistan’s development, emphasizing their transformative role in bolstering local currency markets and catalyzing private sector growth By S.M. Inam ISLAMABAD: Islamabad witnessed a significant policy dialogue on Wednesday as Finance Minister Muhammad Aurangzeb convened with a high-level delegation of international investors, signaling Pakistan’s renewed commitment to private sector-led economic growth and structural reforms. The meeting brought together representatives from the International Finance Corporation (IFC), British International Investment, the Asian Development Bank (ADB), and Baltoro Capital, highlighting the government’s intent to deepen engagement with global financial partners. During the discussions,…

Central Bank Governor Jameel Ahmad warned that inflation is set to peak by mid-year, emphasizing a policy approach focused on medium-term economic stability By S.M. Inam KARACHI: State Bank of Pakistan Governor Jameel Ahmad expects the economy to grow by as much as 4.75% this fiscal year, pushing back against a recent downgrade by the International Monetary Fund. In written responses to Reuters, Ahmad argued that the recovery is broader and more durable than headline export data suggest. The central bank raised its FY26 growth forecast to 3.75–4.75% at its January meeting, 0.5 percentage points higher than the previous range,…

Pakistan’s remittances surge to $23.2bn in seven months, signaling a robust 11.3pc growth that underscores the resilience of its diaspora-driven economy By S.M. Inam ISLAMABAD: Pakistani workers’ remittances climbed sharply to $3.5 billion in January 2026, marking a 15.4 percent year-on-year increase, according to figures released by the State Bank of Pakistan (SBP). On a cumulative basis, remittances reached $23.2 billion during the first seven months of the ongoing fiscal year (July–January FY26). This reflected an 11.3 percent rise compared with $20.9 billion received in the same period last year. The central bank said inflows in January were primarily sourced…