The government is set to hand over Pakistan International Airlines (PIA) to its new owners by the end of the current month, as all remaining codal formalities and documentation have been completed. This was revealed by Prime Minister’s Adviser on Privatisation, Muhammad Ali, in an interview with Business Recorder. PIA was sold in December 2025 to a consortium led by Karachi-based Arif Habib
A young leader of the United Business Group (UBG) and prominent businessman Shehzad Mobeen has said that Pakistan must now move away from its traditional import-dependent economic model and rapidly transition toward a competitive, export-oriented economy. He noted that in the current global economic environment, the countries achieving sustained growth were those that had been enhancing their i
The Khyber Pakhtunkhwa government has earmarked Rs 524.3 billion under Annual Development Programme for the Fiscal Year 2026-27, including Rs 235 billion for settled areas with an increase of 21 percent. For the settled tehsil, ADP budget was Rs 47 billion showing an increase of 21 percent and ADP of merged districts is Rs 34.8 billion with an increase of 13 percent. A significant portion of
Gold rose over 1% on Monday, rebounding from a more than one-week low hit in the previous session, as Brent crude oil prices fell after Iran claimed progress in US-Iran peace talks, easing concerns around inflation and higher interest rates. Spot gold was up 1.2% at $4,209.03 per ounce, as of 0112 GMT. US gold futures for August delivery fell 0.5% to $4,225.80. An Iranian foreign ministry
The dollar was firm on Monday as uncertainty clouded a tentative U.S.-Iran peace deal following threats from President Donald Trump to restart the war in the Middle East and Tehran’s announcement it had closed the Strait of Hormuz. Despite rising tensions, US-Iran peace talks stretched into their second day in Switzerland under the terms of a memorandum of understanding reached last week to e