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Pakistan seeks US tariff access, taps Mideast funds as it re-engages global markets

Pakistan seeks US tariff access, taps Mideast funds as it re-engages global markets
Muhammad Aurangzeb, Pakistan’s Minister of Finance and Revenue (third left), speaks during a meeting with Moody’s team in Islamabad on April 5, 2025. (AFP/File)
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Updated 58 sec ago

Pakistan seeks US tariff access, taps Mideast funds as it re-engages global markets

Pakistan seeks US tariff access, taps Mideast funds as it re-engages global markets
  • Finance minister says improving macroeconomic indicators strengthening case to tap international markets
  • Pakistan has successfully arranged $1 billion in commercial financing from Middle Eastern, Aurangzeb tells Moody’s

ISLAMABAD: Pakistan is re-engaging with global financial markets, tapping funding from the Middle East and pursuing preferential tariff access with the United States as it works to stabilize its economy and attract fresh investment, Finance Minister Muhammad Aurangzeb said on Tuesday. 

Pakistan has “successfully arranged $1 billion in commercial financing from the Middle Eastern region” and plans to launch an inaugural Panda bond while exploring a Eurobond and other international debt markets as its credit ratings improve, Aurangzeb said during a briefing with the Moody’s rating agency on Tuesday.

“These changes, together with improving macroeconomic indicators and the reform momentum, would be positively acknowledged by rating agencies, further strengthening Pakistan’s case to tap international markets and deepen its external sector stability,” the finance minister said.

The virtual session, attended by the State Bank governor and senior officials, also highlighted “ongoing discussions with the United States on preferential tariff access,” which the minister described as “making encouraging headway.”

The finance team cited key progress under Pakistan’s IMF-backed economic plan. Recent reforms include “prudent fiscal measures” in the new budget, trade and tariff liberalization for export-led growth, and steps to rationalize spending.

Aurangzeb also pointed to signs of recovery, including a sharp drop in inflation, a lower policy rate, a stable exchange rate, a current account surplus and foreign reserves rising above $14 billion by the end of June.

He underlined plans to raise the tax-to-GDP ratio to 13–13.5 percent in the coming years through technology-driven tax administration, digitization and tougher enforcement. 

Under the prime minister’s direct oversight, he said, a “Rs. 2 trillion revenue delta” was achieved this year through “autonomous efforts.”

Despite repeated external and fiscal pressures, Pakistan says it hopes improved ratings and renewed investor confidence will lower borrowing costs and keep the economy on a sustainable path.

“Pakistan is ready to carry forward this journey of resilience, reform, and recovery to unlock long-term, inclusive, and export-oriented economic growth,” Aurangzeb said.


UK launches eVisas for Pakistani students, workers

UK launches eVisas for Pakistani students, workers
Updated 37 sec ago

UK launches eVisas for Pakistani students, workers

UK launches eVisas for Pakistani students, workers
  • New system will help applicants prove their status easily while keeping their passports
  • British officials say eVisas will eventually cover all visa types for UK-bound travelers

ISLAMABAD: The United Kingdom on Tuesday said it was replacing physical visa stickers with digital immigration status records, or eVisas, for most Pakistani students and workers to streamline the application process and make it easier to prove immigration status.

The change means that main applicants traveling to the UK on study or work-related visas will no longer need a physical sticker in their passport. Instead, they will use an online UK Visas and Immigration (UKVI) account to access and share proof of their status.

“These changes to the UK visa system will make it much simpler for students and workers to prove their identity and visa status. It also means applicants can hold onto their passports, saving them time,” British High Commissioner Jane Marriott said in a statement.

The rollout of eVisas for Pakistani nationals is part of a broader shift toward digital border and immigration systems across the UK. The government says millions of people already use eVisas on select routes, and the system is designed to be more secure and convenient than physical documents.

The new eVisa option covers routes including students (including short-term study), Skilled Workers (including Health and Care visas), Global Talent, International Sportsperson, Youth Mobility Scheme, and various Global Business Mobility and Temporary Work categories.

Holders will be able to link their passport to their UKVI account to make international travel smoother and can securely share their status with employers or landlords in England using the “view and prove” service.

Physical sticker visas will still be required for dependents, general visitors, or any applicants not traveling for study or work. Existing physical visas will remain valid until they expire.

The shift comes as the UK tightens immigration rules for some categories but aims to make the application process more efficient for students and skilled workers, two groups that make up a large share of Pakistani migrants to the UK each year. According to UK Home Office data, tens of thousands of Pakistani nationals travel to the UK annually for higher education and employment opportunities.

The British government said the eVisa system would eventually be expanded to cover all visa routes to create “a more secure and streamlined process for all UK visa customers.”


Nationwide strike looms as Karachi business leaders, transporters unite against ‘anti-business’ tax law

Nationwide strike looms as Karachi business leaders, transporters unite against ‘anti-business’ tax law
Updated 15 min 3 sec ago

Nationwide strike looms as Karachi business leaders, transporters unite against ‘anti-business’ tax law

Nationwide strike looms as Karachi business leaders, transporters unite against ‘anti-business’ tax law
  • Shutdown on July 19 could bring economic activity to a standstill, traders and transporters warn
  • Business community is protesting over key provisions in government’s new Finance Act 2025

KARACHI: Pakistan’s largest business chamber has joined forces with goods transporters from across the country to call for a nationwide strike this week on July 19 in protest against key provisions in the government’s new Finance Act 2025, which they say threaten to paralyze economic activity and stifle trade.

The president of the Karachi Chamber of Commerce & Industry (KCCI), Muhammad Jawed Bilwani, announced the planned shutdown at a press conference on Monday, flanked by senior chamber officials and leaders of multiple transport alliances.

The strike, they warned, will halt the movement of goods and bring business operations to a grinding halt if the federal government fails to suspend what they describe as “anti-business” measures.

“Unless the government puts all these measures in abeyance, the nationwide strike scheduled for July 19 will take place with full force, bringing economic activity across the country to a grinding halt,” Bilwani said, according to the official statement.

The business community says more than 50 trade associations nationwide have pledged formal support for the strike, signaling what could be one of the biggest shutdowns in Pakistan in recent years if the deadlock persists.

The chamber has listed five key demands, including withdrawal of new sections that grant the Federal Board of Revenue (FBR) powers to arrest traders, penalties on cash transactions above Rs200,000, mandatory digital invoicing, a new e-bilty requirement for goods transporters, and the restoration of the Final Tax Regime for exporters.

Bilwani said transporters’ associations had pledged “unwavering solidarity” with the business community and committed to a complete wheel-jam strike that will stop the movement of trucks nationwide on July 19.

“No vehicle will move… in absolute unity with the business community,” he said.

This is not the first time Pakistan’s business community has threatened mass shutdowns in response to tax measures. But the show of unity between traders and goods transporters has raised fears of significant supply chain disruptions.

Bilwani said while the Ministry of Finance has made informal contact with the chamber, there has been no official commitment to roll back the controversial measures. He insisted that “only upon suspension of these provisions” would the business community agree to any further talks with lawmakers.

Chairman of the Businessmen Group (BMG) Zubair Motiwala, also speaking at the event, warned that the strike was a last resort:

“While the business community does not favor frequent strikes, the prevailing conditions have left no other option,” he said, according to the KCCI statement.

Transport leaders, including representatives of the Pakistan Goods Transport Alliance and other associations, declared their “full and unconditional support” for the strike and pledged to remain aligned with KCCI’s demands “regardless of the consequences.”


India orders airlines to check fuel switches on Boeing jets

India orders airlines to check fuel switches on Boeing jets
Updated 22 min 42 sec ago

India orders airlines to check fuel switches on Boeing jets

India orders airlines to check fuel switches on Boeing jets
  • Crash probe reveals cockpit confusion over fuel cut-off, safety checks ordered on multiple aircraft models
  • Deadline set for inspections as regulators respond to early findings from deadly June 12 Air India Boeing crash

NEW DELHI: India has ordered its airlines to examine fuel switches on several Boeing models after they came under scrutiny following last month’s crash of an Air India jet which killed 260 people.

A preliminary report, issued Saturday by India’s Aircraft Accident Investigation Bureau, found that the switches had flipped from run position to cutoff shortly after takeoff.

The report did not offer any conclusions or apportion blame for the June 12 disaster, but indicated that one pilot asked the other why he cut off fuel, and the second pilot responded that he had not.

India’s Directorate General of Civil Aviation (DGCA) issued the order Monday to investigate the locking feature on the fuel control switches of several Boeing models including 787s and 737s.

The order came after Boeing notified operators that the fuel switch locks on its jets were safe.

But it was in line with a Special Airworthiness Information Bulletin (SAIB) issued by the US Federal Aviation Administration, which recommended inspection of the locks to ensure they could not be moved accidentally.

Several Indian and international airlines have already begun their own inspections of fuel switches.

“It has come to the notice of DGCA, that several operators — internationally as well as domestic — have initiated inspection on their aircraft fleet as per the SAIB,” DGCA said in a statement.

In view of the SAIB, all airline operators of the affected aircraft must complete the inspection by July 21, it added.

The Boeing 787-8 Dreamliner was headed from Ahmedabad in western India to London when it crashed, killing all but one of the 242 people on board as well as 19 people on the ground.

In a letter to employees on Monday, Air India CEO Campbell Wilson said the investigation into the crash was ongoing and it would be unwise to jump to “premature conclusions.”


Torrential rains, flash floods, landslide warnings issued for Punjab as monsoons continue

Torrential rains, flash floods, landslide warnings issued for Punjab as monsoons continue
Updated 15 July 2025

Torrential rains, flash floods, landslide warnings issued for Punjab as monsoons continue

Torrential rains, flash floods, landslide warnings issued for Punjab as monsoons continue
  • Over 110 dead across Pakistan in rain-related accidents since late June
  • Fesh monsoon spell to hit northern and central regions through July 17

ISLAMABAD: Authorities in Pakistan’s Punjab province on Tuesday issued an urgent weather alert warning of torrential rains with strong winds and thunderstorms expected to lash cities across the province through July 17, posing serious risks of flash floods, urban flooding and landslides.

The Provincial Disaster Management Authority (PDMA)’s fresh warning comes as the country’s National Disaster Management Authority (NDMA) said on Monday the nationwide monsoon death toll had hit 111 since June 26, including 40 fatalities in Punjab, Pakistan’s most populous province. Another 212 people have been injured in rain-related incidents across the country.

The annual monsoon season, which brings 70 to 80 percent of South Asia’s rainfall, is vital for agriculture and the livelihoods of millions of farmers but increasingly brings devastation due to erratic and extreme weather. Pakistan remains among the world’s most climate-vulnerable nations, with memories still raw from the 2022 floods that killed over 1,700 people and submerged a third of the country, causing over $33 million in economic losses. 

“PDMA’s provincial control room and district emergency operation centers have been put on alert,” a PDMA spokesperson said in a statement on Tuesday. “There are chances of heavy rain in upper river catchments, including Lahore and the northern regions, which could lead to flash floods.”

The PDMA said the fresh wet spell, driven by a low-pressure area over India’s Madhya Pradesh state, is expected to affect upper and central parts of Pakistan in the coming days. Strong monsoon currents and a westerly wave could intensify rainfall, especially in Rawalpindi, Murree, Galiyat, Dera Ghazi Khan and northeastern Punjab.

According to the latest alert, low-lying urban areas face risks of flooding in Lahore, Rawalpindi, Gujranwala, Sialkot, Faisalabad and other cities. The hilly regions of Murree and Galiyat could see landslides, while strong winds and lightning may damage vulnerable structures such as rooftops of mud houses, electric poles, billboards and vehicles.

The Director General of PDMA Punjab, Irfan Ali Kathia, has instructed district administrations to keep staff and machinery on high alert, ensure drainage channels stay clear and monitor low-lying areas to prevent urban flooding.

“WASA and municipal bodies must ensure that rainwater does not accumulate,” Kathia said. “Field officers should remain present and supervise operations.”

Residents, tourists and travelers have been urged to avoid unnecessary exposure during the stormy spell and to seek safe shelter where possible. In case of emergency, citizens can call the PDMA helpline at 1129.


Heart disease kills more Pakistani women than previously understood — study

Heart disease kills more Pakistani women than previously understood — study
Updated 15 July 2025

Heart disease kills more Pakistani women than previously understood — study

Heart disease kills more Pakistani women than previously understood — study
  • Data from country’s top cardiac network reveals higher mortality, delayed care and diagnostic gaps for women
  • Researchers call for improved surveillance, early detection programs, inclusion of women in clinical research

ISLAMABAD: Heart disease is killing more women in Pakistan than previously understood, with female patients experiencing higher mortality rates, more severe symptoms and delayed diagnoses compared to men, according to a landmark hospital-based study published this week.

The paper, ‘Burden of cardiovascular disease in women: data from Pakistan’s largest cardiac hospital network,’ was released in npj Women’s Health this month and analyzed data from over 14,800 patients treated at the National Institute of Cardiovascular Diseases (NICVD). It found that women with heart conditions are more likely to die than men, despite presenting at a younger age in some cases and with more complex symptoms.

“Women are diagnosed at a later stage, have delayed surgical referrals, and have poorer post-operative outcomes than males,” the researchers wrote. “There is a scarcity of data from South Asia due to underrepresentation of women in studies, which limits the development of evidence-based guidelines.” 

The study used prospective data collected from three patient registries, valve disease, coronary catheterization, and structural interventions, between October 2022 and June 2024. It discovered that females are more likely than males to suffer from valvular heart disease (VHD) and present at a considerably younger age. 

Females also had a higher likelihood of mitral valve disease than males, who were more likely to have aortic valve disease. Rheumatic heart disease was the leading cause of all left-sided VHD. 

Among women admitted with acute coronary syndrome (ACS), the study noted a “significantly higher prevalence of diabetes and hypertension” and that women experienced “a significantly higher rate of death, longer door-to-balloon time, and total ischemic time.”

The authors stressed that gender disparities in cardiac care in Pakistan are systemic, with women often excluded from clinical trials, underdiagnosed in hospitals and referred for surgical or interventional treatment far too late.

“Understanding the burden and presentation of cardiovascular disease in women is crucial to improving outcomes,” the paper stated, warning that Pakistan lacks gender-disaggregated cardiac data on a national level.

Heart disease is the leading cause of death worldwide for women, and the burden is rising fastest in low- and middle-income countries. In Pakistan, non-communicable diseases account for over 60 percent of all deaths, according to the World Health Organization. Yet gender-specific health data remains scarce, and preventive screening for women is rarely prioritized.

The authors called for improved surveillance, early detection programs and “urgent inclusion of women in cardiovascular clinical research” to address the growing crisis. 

“The development of targeted awareness programs and community-based screening could play a critical role,” they wrote.

Pakistan’s public health system remains underfunded, and most cardiovascular care is concentrated in a few urban centers like NICVD. Experts warn that without immediate policy intervention, gender inequities in care could worsen as risk factors like diabetes, obesity, and hypertension continue to rise.

The researchers concluded:

“Tailored public health policies and investments in gender-sensitive health care delivery are urgently needed to reduce the cardiovascular disease burden in women.”