Latest News

Pakistan's IT exports achieved a stellar 33% year-on-year increase in April 2026, reaching $423 million and maintaining a steady month-on-month growth above the $400 million baseline. According to State Bank of Pakistan data, cumulative technology exports for the first 10 months of FY26 soared to $3.81 billion, entirely outpacing the previous fiscal year's total earnings. Industry experts credit this rapid expansion to robust global demand for software and freelancing services, streamlined digital payment infrastructure, and a rising profile for Pakistani tech startups on the international stage.

Prime Minister Shehbaz Sharif has approved the immediate suspension of nationwide business hour restrictions, allowing commercial centers, markets, shopping malls, and restaurants across Pakistan to operate 24/7 until May 31, 2026. Issued by the Cabinet Division ahead of Eid-ul-Adha, the notification completely overrides the energy-saving early-closure mandates enacted in April 2026. This temporary move aims to catalyze economic activity and provide flexibility to both traders and consumers during the high-volume festive shopping season.

Under strict IMF program commitments, the federal government has directed Pakistan's four provinces to collectively generate over PKR 400 billion in additional tax revenue for FY 2026–27, primarily targeting the agriculture, services, and real estate sectors. Sindh and Punjab bear the brunt of the fiscal target, assigned PKR 200 billion and PKR 175 billion respectively, as part of a broader national strategy to mobilize over PKR 1.1 trillion globally through joint provincial-federal enforcement and expanded sales taxes. To ensure compliance, the FBR has initiated data-sharing protocols with the provinces, though historical challenges in collecting agricultural income tax remain a major hurdle.

The Gwadar Port Authority has implemented a major tariff overhaul to transform the deep-sea port into a regional logistics and transshipment hub. Under the new structure, berthing fees have been cut by 25%, while port charges for international transshipment and transit cargo have dropped by 40% and 31% respectively. Additionally, Gwadar now offers an unprecedented 30-day free storage period for general cargo to incentivize shipping lines looking for cost-effective alternatives to congested regional routes. This strategic pivot is already showing results, evidenced by the recent berthing of the MV Yuan Hang Wei Ye, which utilized the port for transshipment operations destined for Abu Dhabi and Kuwait. Government officials expect these measures to stimulate national economic activity and generate significant employment opportunities across Balochistan.

Pakistan is projected to achieve a record-breaking $4.5 to $4.6 billion in IT exports during the current fiscal year, a significant milestone discussed in a recent review meeting chaired by Prime Minister Shehbaz Sharif. This growth is underpinned by a massive expansion in digital infrastructure, with domestic internet connections surging from 1.9 million in 2024 to 5.10 million in 2026, alongside a landmark 5G auction that generated $509 million in revenue. Beyond infrastructure, the government is prioritizing the "immense potential" of the nation's youth through initiatives like Indus AI Week and the deployment of e-learning pods and free Wi-Fi hotspots in Islamabad. Prime Minister Sharif emphasized that scaling the IT sector remains a top priority to drive economic stability and leverage Pakistan's growing digital talent on the global stage.

Gold prices retreated on Monday as a stalemate in U.S.–Iran peace negotiations triggered a sharp rally in crude oil, which jumped roughly 4% to $105 a barrel. This failure to reach a resolution, highlighted by U.S. President Donald Trump's rejection of Iran’s latest proposal, has intensified fears of persistent, energy-driven inflation. Consequently, investors are bracing for "higher for longer" interest rates, with Goldman Sachs pushing back its projected Federal Reserve rate cuts to late 2026 and 2027. The resulting strength in the U.S. dollar and elevated bond yields have pressured bullion, while supply-side constraints, such as a 7.08% decline in China’s domestic gold production during the first quarter of 2026, provide an additional macroeconomic backdrop to the metal's current volatility.

Sindh Chief Minister Syed Murad Ali Shah has ordered an immediate acceleration of work on the BRT Red Line and the Shahrah-e-Bhutto Expressway following a detailed inspection of Karachi's infrastructure. Accompanied by top provincial and city officials, the Chief Minister set a strict three-month deadline for visible improvements in road restoration and drainage along the Red Line corridor to ease the burden on commuters. While noting progress on utility relocation and subgrade work, he mandated additional night shifts and issued a one-month completion target for specific flyover and U-turn projects. The Frontier Works Organization (FWO) confirmed that construction is now proceeding on a war footing to meet these urgent timelines.

Following the recent change in Bangladesh’s political leadership, Islamabad and Dhaka are actively recalibrating their relationship by prioritizing economic synergy and regional security cooperation. During high-level talks in Dhaka, Interior Minister Mohsin Naqvi and Bangladeshi officials agreed to expand trade, increase institutional contacts, and facilitate cultural exchanges, marking a departure from years of diplomatic friction. Beyond commerce, the discussions highlighted Pakistan’s growing role as a regional mediator specifically its efforts in de-escalating Iran-US tensions and established practical security ties through a new anti-narcotics MoU and proposed technical collaboration on urban safety projects.

The Punjab Communication and Works Department is set to open the Rs19 billion Kutchery Chowk remodelling project by May 31, achieving 92% completion in just six months—a significant acceleration from its original 18-month timeline. Executed by the Frontier Works Organisation (FWO), the project features two flyovers and three underpasses designed to manage over 250,000 vehicles daily, alongside new pedestrian bridges and green belts. Once this junction is operational, the government will immediately launch an Rs8 billion project on Peshawar Road involving three additional underpasses to further streamline Rawalpindi's traffic flow.