Ƶ

Saudi low fare airline ‘Flyadeal’ to begin operations in Pakistan next month — official

Saudi low fare airline ‘Flyadeal’ to begin operations in Pakistan next month — official
The picture uploaded on Flyadeal's LinkedIn page on December 19, 2024 shows one of its plane taking taking off. (Flyadeal)
Short Url
Updated 09 January 2025

Saudi low fare airline ‘Flyadeal’ to begin operations in Pakistan next month — official

Saudi low fare airline ‘Flyadeal’ to begin operations in Pakistan next month — official
  • Flyadeal is a subsidiary of Ƶ’s national flag carrier, Saudia
  • Airline to operate two flights weekly each from Riyadh and Jeddah to Karachi

KARACHI: Ƶ’s low fare airline, ‘Flyadeal’ is all set to launch its operations in Pakistan from next month, a Pakistani civil aviation officer confirmed this week, saying that it would offer cheaper fares to customers. 

Flyadeal is a Saudi low-cost airline headquartered at King Abdulaziz International Airport in Jeddah. It is a subsidiary of Ƶ’s flag carrier, Saudia, that commenced operations on Sept. 23, 2017. Initially, it served domestic destinations within the Kingdom. On Jun. 10, 2022, the airline expanded its network by launching flights from Dammam to Cairo.

The airline’s move to expand its operations to Pakistan takes place as Ƶ seeks to boost its tourism sector under the Vision 2030 strategy, which aims to attract over 150 million domestic and international tourists annually to the Kingdom by the end of the decade. 

“It will increase market competition by offering better facilities and more affordable tickets,” Air Commodore (retired) Shahid Qadir, director of security of Pakistan’s Civil Aviation Authority (PCAA) told Arab News on Wednesday. He confirmed Pakistan had granted permission to the Saudi airline to conduct operations in the country.

Flyadeal’s fleet consists of Airbus A320 aircraft. The airline, which will initially operate two weekly flights to Karachi each from Ƶ’s Riyadh and Jeddah cities, has hinted at plans to expand its network to include more Pakistani cities in future.

“Our new Karachi flights serving Jeddah and Riyadh are a stepping stone for further planned expansion in Pakistan,” Steven Greenway, Flyadeal’s chief executive officer, was quoted as saying by Pakistan’s state-run Associated Press of Pakistan (APP) in December.

Pakistanis constitute the second-largest expatriate community in Ƶ, with an estimated population exceeding 2.5 million. Ƶ remains the primary source of remittances for Pakistan. Furthermore, Pakistan is among the leading nations in terms of the number of pilgrims visiting the Kingdom for Islamic pilgrimages Umrah and Hajj.

Qadir said Flyadeal will become the third Saudi origin airline to conduct operations in Pakistan. The Kingdom’s national flag career, Saudia and Flynas, a private Saudi low-cost airline, are already conducting operations in Pakistan.

The Pakistani official said Flyadeal’s entry into the Pakistani market is expected to enhance travel options for passengers.

“Thousands of Pakistani passengers will greatly benefit from it,” he said.

Flyadeal’s first flight will depart from Riyadh on Feb. 1 and return from Karachi on the same day. The second flight will fly from Jeddah on Feb. 3 and return the same day.


Pakistan reports gas, condensate discovery in Sindh amid falling domestic reserves

Pakistan reports gas, condensate discovery in Sindh amid falling domestic reserves
Updated 13 sec ago

Pakistan reports gas, condensate discovery in Sindh amid falling domestic reserves

Pakistan reports gas, condensate discovery in Sindh amid falling domestic reserves
  • OGDCL says Khairpur well yields 22.5 MMSCFD gas, 690 barrels condensate daily
  • The discovery can boost Pakistan’s economy, burdened by costly energy imports

KARACHI: Pakistan’s Oil & Gas Development Company Limited (OGDCL) announced Wednesday it had discovered gas and condensate in Sindh province, with tests showing potential production of 22.5 million standard cubic feet per day (MMSCFD) of natural gas and 690 barrels per day (BPD) of condensate.

The discovery comes as Pakistan struggles with a heavy energy import bill, spending more than $15 billion annually on crude oil, petroleum products and liquefied natural gas (LNG). Domestic gas production has been in long-term decline, increasing pressure on the country’s foreign reserves and making new finds critical to energy security.

“Oil & Gas Development Company Limited (OGDCL), the operator of Bitrism Exploration License holding 95 percent working interest, in joint venture with Government Holdings (Private) Limited (GHPL) with 5 percent working interest, is pleased to announce the discovery of Gas/Condensate at Bitrism East-1, located in District Khairpur, Sindh Province,” OGDCL said in its stock market disclosure.

It informed the well was spudded on June 30, 2025, and drilled down to a depth of 3,800 meters using OGDCL’s in-house expertise in collaboration with its Joint Venture Partner.

The company said it conducted two drill stem tests (DSTs), a standard procedure in oil and gas exploration.

“In both the DSTs the well produced significant quantities of hydrocarbons with combined production potential of 22.5 MMSCFD gas and 690 barrels of condensate per day (BCD),” it added.

Condensate is like a light form of crude oil that comes out of gas wells, with the OGDCL disclosure report revealing the estimated contribution the well can make to the domestic fuel supply.

OGDCL disclosed the find to both the Pakistan Stock Exchange and the London Stock Exchange, where it has Global Depositary Shares listed, in line with regulatory requirements for listed companies.


Punjab collects flood loss data to issue ATM cards for compensation

Punjab collects flood loss data to issue ATM cards for compensation
Updated 01 October 2025

Punjab collects flood loss data to issue ATM cards for compensation

Punjab collects flood loss data to issue ATM cards for compensation
  • Survey teams gather details from over 41,000 residents and 28,000 farmers in 27 districts
  • Authorities say compensation will follow verification by PITB, NADRA and other agencies

ISLAMABAD: Authorities in Pakistan’s Punjab province said on Wednesday they had gathered data from tens of thousands of residents and farmers hit by the recent monsoon floods, with compensation to be distributed through special ATM cards once the information is verified.

Heavy rains and excess water released from Indian dams caused Punjab’s rivers to swell in late August, inundating more than 4,700 villages in the country’s agricultural heartland, destroying crops and homes and forcing millions to flee. According to the National Disaster Management Authority (NDMA), the province reported 304 deaths out of a nationwide toll of 1,006 during the monsoon season that began with downpours on June 26 and lasted until mid-September.

The Provincial Disaster Management Authority (PDMA) said 1,314 survey teams were active in 27 districts, adding they had so far collected data from 41,735 residents, compiled details of crop losses from 28,632 farmers, identified 49,510 acres of flood-damaged land and recorded damages to 12,500 houses.

“After verification by the Punjab Information Technology Board (PITB), the Punjab Land Records Authority (PLRA) and the National Database and Registration Authority (NADRA), financial assistance to the affected people will begin,” the PDMA said in its statement.

It added flood-affected residents will be issued special relief ATM cards to access compensation.

The PDMA said officials also logged information from 603 livestock farmers who lost animals and 2,459 dead cattle.

The Punjab administration announced last month it had launched the survey to assess damages caused by the devastating floods, with the provincial relief commissioner, Nabeel Javed, saying citizens’ losses would be compensated.

The Punjab government had also set up 363 relief camps and 446 medical camps in flood-hit districts, while 2.6 million people were relocated to safer areas.


Pakistan presses UN for Rohingya repatriation, citizenship guarantees in Myanmar

Pakistan presses UN for Rohingya repatriation, citizenship guarantees in Myanmar
Updated 01 October 2025

Pakistan presses UN for Rohingya repatriation, citizenship guarantees in Myanmar

Pakistan presses UN for Rohingya repatriation, citizenship guarantees in Myanmar
  • Rohingya Muslims have faced decades of persecution, denial of citizenship and periodic waves of violence
  • A 2017 military crackdown drove more than 700,000 people into neighboring Bangladesh, creating a crisis

ISLAMABAD: Pakistan on Tuesday described the plight of Rohingya Muslims in Myanmar as one of the world’s most urgent humanitarian and human rights challenges in a statement at the United Nations General Assembly, urging the international community to ensure their return to their native land uphold their citizenship rights.

The remarks came at a high-level conference on the situation of Rohingya Muslims and other minorities in Myanmar. The Rohingya, a mostly Muslim minority in Myanmar’s Rakhine State, have faced decades of persecution, denial of citizenship and periodic waves of violence.

A 2017 military crackdown drove more than 700,000 people into neighboring Bangladesh, where nearly a million remain in overcrowded refugee camps. Renewed violence in Rakhine this year has forced thousands more to flee, deepening an already dire humanitarian crisis.

“The plight of Rohingya Muslims and other minorities in Myanmar remains one of the most urgent humanitarian and human rights challenges,” Pakistan’s UN envoy Asim Iftikhar Ahmad told the gathering.

“For too long, the Rohingya have endured displacement and limited access to rights and services,” he added. “The recent upsurge of violence in Rakhine State has further intensified their suffering, forcing many to flee and worsening an already dire humanitarian situation.”

Ahmad aligned his remarks with the Organization of Islamic Cooperation (OIC) and praised Bangladesh and other host countries for sheltering displaced Rohingya, saying Pakistan understood their burden, having itself hosted millions of Afghan refugees for decades.

He stressed that a durable solution lay in addressing the root causes, beginning with full implementation of the Advisory Commission on Rakhine State’s recommendations — led by former UN chief Kofi Annan — particularly those related to pathways to citizenship.

Ahmad said only an inclusive, Myanmar-owned process, supported by the Association of Southeast Asian Nations (ASEAN), could create conditions for the safe and dignified return of the Rohingya.

He also maintained the credibility of the international community would be judged by its ability to secure justice, restore dignity and enable Rohingya Muslims and other minorities in Myanmar to rebuild their lives in peace and security.


Pakistan raises petrol, diesel prices by about Rs4 for next two weeks

Pakistan raises petrol, diesel prices by about Rs4 for next two weeks
Updated 01 October 2025

Pakistan raises petrol, diesel prices by about Rs4 for next two weeks

Pakistan raises petrol, diesel prices by about Rs4 for next two weeks
  • Petrol now costs Rs268.68 per liter while HSD has risen to Rs276.81
  • Price hike comes amid inflation warning following monsoon floods

KARACHI: Pakistan’s government has increased the price of petrol by Rs4.07 per liter and high-speed diesel (HSD) by Rs4.04 per liter for the next fortnight, the finance division announced late Tuesday, with the revised prices taking effect today.

Fuel prices in Pakistan are adjusted every two weeks and are influenced by global oil market trends, currency fluctuations, and changes in domestic taxation.

According to the official notification, petrol now costs Rs268.68 per liter, up from Rs264.61, while HSD has risen to Rs276.81 per liter from Rs272.77.

“The Government has revised the prices of petroleum products for the fortnight commencing October 01, 2025, based on the recommendations of Oil and Gas Regulatory Authority (OGRA) and the relevant Ministries,” the Finance Division said in its statement.

Fuel price increases have a direct impact on inflation, raising production and transportation costs and driving up the prices of essential goods and services, particularly food.

The effect of the latest price hike may further be amplified as the finance ministry noted in its monthly economic outlook a day earlier that flood-related disruptions could put pressure on food supply chains and push up consumer prices.

“Inflation is expected to rise temporarily but remain contained within the 3.5-4.5 percent range in September 2025,” it said in its report.


Pakistan says debt profile more sustainable after $500 million Eurobond repayment

Pakistan says debt profile more sustainable after $500 million Eurobond repayment
Updated 01 October 2025

Pakistan says debt profile more sustainable after $500 million Eurobond repayment

Pakistan says debt profile more sustainable after $500 million Eurobond repayment
  • Pakistan issued these bonds in 2015 with a 10-year tenor and they matured on Sept. 30, 2025
  • The repayment coincides with an IMF review mission amid flood-related economic challenges

ISLAMABAD: Pakistan’s government said on Wednesday the country has developed a more sustainable debt profile and is now in a better position to borrow on competitive terms, after repaying a $500 million Eurobond issued a decade ago that matured on Sept. 30.

The South Asian nation faced a prolonged economic crisis in recent years that pushed it to the verge of a sovereign debt default in mid-2023, when foreign exchange reserves fell to critically low levels. To stabilize its position, Islamabad secured financial assistance from friendly nations alongside the International Monetary Fund (IMF).

Since then, Pakistan has implemented stringent economic reforms under IMF guidance, gradually improving macroeconomic indicators, which global credit rating agencies have also acknowledged.

“Pakistan has successfully repaid its $500mn International Bond (Eurobond) due on 30 Sep 2025 — as scheduled, in line with all its obligations,” Khurram Schehzad, adviser to the finance minister, said in a post on X, formerly Twitter.

“Issued in 2015 to global investors with a 10-year tenor, the bond matured on 30 Sep 2025,” he added.

Schehzad said timely debt servicing reflected the country’s commitment to financial discipline.

He noted that stronger external buffers, upgraded sovereign ratings and improved investor confidence — with bonds trading at a premium in recent months — underscored the progress.

Debt-to-GDP also fell from 77 percent in FY20 to 70 percent in FY25, while the external debt share of total public debt dropped from 38 percent to 32 percent.

“Looking ahead, easing global borrowing costs, alongside stronger fundamentals, position Pakistan to access markets on more competitive terms and continue building a more sustainable debt profile,” he continued.

The development comes as an IMF mission is in Pakistan to conduct a review under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). The government is also assessing damage from recent monsoon floods that killed more than 1,000 people, destroyed homes and inundated farmland.

Economists say the international lender is likely to cut Pakistan’s growth forecast and adjust performance indicators in line with flood impacts.

If Islamabad clears the end-June 2025 review and meets agreed policy benchmarks, it will qualify for about $1 billion under the EFF and more than $100 million from the RSF.