Author: S.M. Inam

By S.M. Inam ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif expressed satisfaction on Monday after international ratings agency Moody’s affirmed Pakistan’s banking sector as “stable,” describing the assessment as a sign of progress in the country’s economic trajectory. The Prime Minister highlighted that the latest rating reflects the government’s broader efforts to steer the economy towards stability and growth amid ongoing financial challenges. He praised the work of economic team, noting that their continuous efforts to implement reforms and manage fiscal and monetary policies had contributed to a more resilient financial sector. “Reports and ratings by international institutions are a testament…

By S.M. Inam ISLAMABAD: Pakistan faces a mounting employment crisis, with the World Bank warning that the country must generate 30 million new jobs over the next decade to keep pace with its rapidly growing population. World Bank president Ajay Banga spoke to an international news agency, highlighting the urgency of the challenge and the potential social consequences of inaction. Banga said Pakistan would need to create between 2.5 and 3 million new jobs annually to absorb its expanding workforce. “Failure to provide sufficient employment opportunities for the youth could fuel rising unemployment, social unrest, and migration pressures,” he cautioned,…

By S.M. Inam ISLAMABAD: Uzbekistan’s President, Shavkat Mirziyoyev, described Pakistan as a “close friend and trusted partner,” underscoring the two countries’ shared commitment to advancing cooperation on regional and global issues. His remarks came during a ceremony marking the signing of several bilateral agreements, which also celebrated the deepening of diplomatic, educational, and economic ties between Islamabad and Tashkent. President Mirziyoyev expressed gratitude to Prime Minister Shehbaz Sharif for the warm welcome extended to him and his delegation, noting that the occasion was particularly memorable as he was conferred the Nishan-e-Pakistan, along with an honorary doctorate and professorship. “Receiving these…

By S.M. Inam KARACHI: Pakistan’s central bank has assured that a $2 billion rollover from the United Arab Emirates poses no risk to the economy, State Bank Governor Jameel Ahmad said on Friday. He added that dollar deposits from friendly countries will continue to roll over until September 2027. Speaking to senior journalists at the SBP headquarters, Ahmad highlighted that Pakistan has already paid $6 billion in external debt and interest this year. Arrangements are in place for another $4.5 billion for the remaining months. The governor emphasized strict action against dollar laundering and smuggling. “We have shut down 140…

Prime Minister Shehbaz underscored prospects for rapid trade growth, noting a new protocol targeting $2 billion in bilateral commerce within five years By S.M. Inam/Mehrab Shah Afridi ISLAMABAD: Prime Minister Shehbaz Sharif on Friday extended a strong invitation to Uzbek business firms to explore investment opportunities across Pakistan’s key economic sectors, including textiles, pharmaceuticals, mining, agriculture, and tourism. The remarks came during the Pakistan-Uzbekistan Business Forum in Islamabad, held alongside the two-day state visit of Uzbek President Shavkat Mirziyoyev, as both countries sought to translate diplomatic goodwill into tangible economic cooperation. The forum marked a significant milestone in bilateral relations,…

Islamabad opens Gwadar and Karachi ports to Central Asian states, aiming to transform regional trade corridors and deepen economic integration By S.M. Inam/Mehrab Shah Afridi ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday called for an increase in trade between Pakistan and Kazakhstan to $1 billion. The appeal came as the two countries signed more than 30 memoranda of understanding across sectors including petroleum, mining and maritime affairs. Speaking at a joint press conference after the signing ceremony, the prime minister said current trade levels did not reflect the full strength of bilateral relations or the economic potential of both nations.…

By S.M. Inam/Asghar Ali Mubarak LAHORE: Pakistan confirmed its participation in the ICC Men’s T20 World Cup 2026, but it announced it would not face India in its scheduled match, a decision that has stirred debate within the cricketing community. Sources close to the Pakistan Cricket Board (PCB) revealed that the country’s Prime Minister, Shehbaz Sharif, met with PCB Chairman Mohsin Naqvi to finalize the course of action. He reportedly stressed the importance of keeping politics separate from sport while maintaining a positive and fair approach on the field. The Prime Minister underlined that Pakistan would not yield to what…

Documents were formally exchanged between Defence Secretary and Arif Habib, marking the official transfer of control and responsibility for Pakistan’s national carrier By S.M. Inam/Asghar Ali Mubarak ISLAMABAD: The long-awaited privatization of Pakistan International Airlines (PIA) concluded on Monday with the formal signing of transaction documents between the Government of Pakistan and the Arif Habib Consortium, marking a historic shift in the management of the nation’s flagship carrier.The ceremony, held in Islamabad, saw the exchange of the shareholders’ agreement and the share purchase and subscription documents, attended by top political and military leadership. Prime Minister Shehbaz Sharif and Chief of…

Linking energy aid to BISP could help Pakistan target support more effectively, rein in circular debt, and unlock funds for broader social programs By S.M. Inam/Mehrab Shah Afridi ISLAMABAD: The World Bank has reported that Pakistan has begun linking electricity and gas subsidies to the Benazir Income Support Program (BISP), a move aimed at improving the efficiency of social assistance while reducing long-standing fiscal losses. According to a recent report on South Asian development, this approach forms part of a broader effort by the government to ensure that support reaches the households that need it most, while also addressing the…

By S.M. Inam ISLAMABAD: A recent survey by the Overseas Investors Chamber of Commerce and Industry showed that confidence in foreign direct investment in Pakistan had risen sharply. Investor confidence reached seventy-three percent, up from sixty-one percent in the previous assessment. Khurram Schehzad, adviser to the finance minister on the economy, described the survey as a clear sign that foreign investors were regaining trust in government policies. He said initiatives under the Special Investment Facilitation Council had created a more stable and attractive investment environment. “Economic stability and a favorable policy framework have made Pakistan a first choice for foreign…