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Finance Minister Muhammad Aurangzeb addressed press conferences and interviews following the unveiling of the Rs18.8 trillion budget for FY26-27, outlining tax reforms, subsidies, and growth projections. He defended the methodology behind economic indicators amid parliamentary concerns.
Pakistan's recent mediation between the US and Iran showcases its growing role in international diplomacy, with analysts highlighting the legal significance. A senior security official also credited Field Marshal Asim Munir and Saudi Arabia's restraint for averting a major regional war, while separately addressing India's alleged treaty violations.
Pakistan's FY27 budget aims to shift from stabilization to growth with tax cuts and a real estate stimulus, but analysts question the sustainability of relying on real estate and the feasibility of ambitious revenue targets amid potential FBR shortfalls.
Pakistan's federal government has proposed a Rs3 trillion defence budget for 2026-27, a 17.65% increase from the previous year, amidst heightened tensions with India and concerns along the Afghan border. The allocation represents about 2.08% of GDP and nearly 16% of total federal outlay, with significant portions earmarked for salaries and pensions. The increase reflects regional security challenges but also comes as the country faces economic pressures, with the IMF involved in pre-budget consultations.
Pakistani Prime Minister Shehbaz Sharif announced that a final text of a US-Iran peace deal has been reached, with details including the dismantling of Iran's nuclear program and reopening of the Strait of Hormuz. The signing is expected soon, though Iran's foreign ministry has cautioned against confirming a specific date. Pakistan has played a key mediating role, with its army chief credited for keeping negotiations alive.
Pakistan's government reduced petrol prices by Rs4 per litre for the week, while reports differ on whether diesel prices were cut by Rs2 or kept unchanged. Tax levies remain high, with petrol taxed at Rs125 per litre and diesel at around Rs100. The reductions mark the fourth or fifth consecutive weekly decrease, depending on the source.
The AJK government has ruled out blanket amnesty for JAAC leaders, while protesters regrouped after Friday prayers. Officials say backchannel talks led to a temporary dispersal, but thousands gathered again, and internet and transport disruptions continue.
The European Union's landmark asylum reform, the Common European Asylum System (CEAS), came into force on Friday, introducing mandatory border screenings, fast-track procedures for certain asylum seekers, and a solidarity mechanism. While officials herald it as a comprehensive system offering more control, critics and experts question its effectiveness and warn of potential human rights impacts.
India is preparing to place its largest-ever order for military drones with domestic manufacturers, exceeding $2 billion, according to industry and government sources. The move reflects lessons from recent conflicts and a push for strategic autonomy in defense technology.
UNHCR's Global Trends report shows 117.8 million people forcibly displaced at the end of 2025, a 3% drop in refugee numbers, driven by large-scale returns in Syria, Afghanistan, and Sudan. However, many returnees face precarious conditions, and new crises, like in Lebanon, add to ongoing displacement.
US President Donald Trump announced a potential peace deal with Iran that could be signed as early as this weekend in Europe, potentially reopening the Strait of Hormuz. The announcement comes after he cancelled planned military strikes on Iran, though Tehran's foreign ministry says nothing has been finalised.
South Korean stocks opened sharply higher this week after President Trump announced a 'great settlement' with Iran, with the KOSPI jumping by as much as 7.81%. However, uncertainty over the final deal and signals from the Federal Reserve have introduced caution, prompting analysts to warn of short-term correction risks.
US President Donald Trump cancelled planned strikes on Iran, citing that negotiations had reached the highest levels of Iranian leadership and that final points of a deal were approved by all parties. The announcement came amid reports of Qatari mediation and expectations of a signing in Europe. Regional reactions and details of the proposed agreement continue to emerge.
US President Donald Trump has threatened to strike Iran 'very hard' and take control of the key oil hub of Kharg Island, even as indirect talks between Washington and Tehran have intensified. Iranian officials have warned of a harsh response to any 'reckless' US action, while negotiations mediated by Pakistan and Qatar continue in Switzerland.
A female doctor at a Quetta hospital was seriously injured in an acid attack by a colleague, sparking outrage and strikes by medical practitioners. The suspect was killed in a police encounter, and the Balochistan government has pledged support, including treatment abroad for the victim.
Iran's military announced the closure of the Strait of Hormuz to all vessels, prompting US denial and a rise in oil prices. The escalation follows new US strikes and stalled negotiations, with no independent confirmation of the closure's effectiveness.
The IAEA's governing board passed a resolution demanding Iran provide complete information on its enriched uranium stocks and grant inspectors access, as the watchdog warns it cannot verify the location or size of the stockpile. Iran rejected the resolution, calling it politically motivated and legally flawed, while the US and Iran exchanged strikes in the latest escalation.
The Pakistan Peoples Party is leading the unofficial count in Gilgit-Baltistan assembly elections, but the process has been marred by allegations of irregularities and a re-poll on five seats. Protests over local issues and political tensions underscore the region's complex dynamics.
Adviser to the PM Rana Sanaullah told the Senate that 12 reserved seats for refugees in the AJK Legislative Assembly would not be abolished, as they represent families displaced from India-occupied Kashmir. Meanwhile, marathon talks between a federal ministerial team and the JAAC ended without a breakthrough, with the committee deciding to proceed with its June 9 strike.
Pakistan has warned that any attempt by India to deprive it of water from the Indus River system would be considered an 'act of war' with 'far-reaching consequences.' The warning follows Indian Water Minister CR Patil's statement that India is working to ensure 'not a single drop of water' flows into Pakistan, amid India's suspension of the Indus Waters Treaty.