Karachi Port has reached another key milestone with arrival of one of the world’s largest container vessels MSC Loreto at the port, showcasing the expansion of Pakistan’s maritime handling capabilities.

The ultra-large container vessel spanning around 399.9 meters in length and carrying 24,346 containers berthed at South Wharf Berth No. 2 of the SAPTL port, sources at Karachi Port Trust (KPT) said.

The vessel arrived carrying 14,538 containers and will dump 3,802 TEUs (Twenty-foot Equivalent Units) to the SAPTL facility during its stay.

The Karachi Port Trust’s spokesperson said the port is now able to safely and efficiently accommodate some of the world’s largest container ships, reflecting advancements in infrastructure and operating capacity.

MSC Loreto would be at the Karachi Port for two days before proceeding to the United Arab Emirates, the official further said.

The Election Commission of Pakistan (ECP) has announced a revised timeline for the delimitation of union councils in Punjab.

As per the timetable, the complaints on delimitation can be submitted till July 4 while the results on the objections on limits of union councils would be announced by July 29.

The last deadline for notifying the Punjab union council delimitation committees about the decisions has been fixed for August 7.

The timetable further mentioned that the final list of Punjab union council delimitations will be released on August 17.

The definitive timetable of elections for local government in Punjab will be announced after the completion of the process of delimitation.

BACKGROUND

Local government polls in Punjab have been deferred several times since 2019. The erstwhile Pakistan Tehreek-e-Insaf (PTI) provincial government disbanded the local government entities in April that year. The Supreme Court later reversed the order and restored the elected bodies. They then served out their constitutional term on 31 December 2021.

The Election Commission of Pakistan (ECP) is obligated by Article 140-A of the Constitution and Section 219(4) of the Elections Act to hold local government elections within 120 days of the expiry of the term of local councils. Therefore, the polls should have been held by the end of April 2022.

However, the Punjab administration delayed the polls by making a number of revisions to the province’s local government statute and the voting process was delayed repeatedly.

ECP announces local government elections in December 2025 on October 8, 2025 The Election Commission of Pakistan (ECP) has asked the Punjab administration to immediately start the process of delimitation of constituencies with orders to complete the procedure within two months.

The revision was made within less than two weeks of the Punjab government’s passing of the Punjab Local Government Act, 2025. Following the passage of the new law, the ECP withdrew the delimitation schedule prepared under the 2022 law and directed the province administration to prepare fresh delimitation and demarcation guidelines within four weeks.

Later, on October 31, 2025, the ECP said local government elections in Punjab could not be held before the second quarter of 2026, as there were no legal and administrative prerequisites to conduct the polls.

The U.S. dollar was on the defensive on Monday, but still set for its greatest monthly gain in almost a year as tension in the Gulf and ahead of jobs data that might affect the Federal Reserve’s rate path.

The U.S. and Iran hurled additional insults over the weekend before agreeing to suspend tit-for-tat attacks and meet in Qatar on Tuesday, leaving investors anxious about a fragile ceasefire.

Oil prices increased on Monday as strikes again disrupted petroleum shipping in the Strait of Hormuz, underpinning safe-haven demand for the dollar.

The euro was unchanged at $1.1387 after hitting a 13-month low versus the dollar last week and was set for a 2.3% monthly drop. Sterling fell 0.1% to $1.3198 and was down 2% on the month.

The risk-sensitive Aussie was at $0.6885, down 0.1% in early trade and on track for a 4.1% fall this month. The New Zealand dollar was steady at $0.5635, down 5.9% on the month.

The Japanese yen was last quoted at 161.75, staying at a 40-year low.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was a little higher at 101.36.
It is currently on course for a 2.5% gain in June, the highest monthly gain since July last year.

The spat with Iran has kept inflation pressures at bay, while a surprisingly hawkish debut by Federal Reserve Chair Kevin Warsh earlier this month has overturned market expectations for U.S. rate reduction this year.

Flows into the dollar are also being driven by a tech-led global market selloff as investors seek refuge.

Investors will be looking the US non-farm payroll (USNFAR=ECI) and unemployment rates (USUNR=ECI) expected this week for fresh signals on the strength of the labour market and the outlook for Fed policy.We see the USD grinding higher in the coming weeks on the story of ‘US exceptionalism,’” said Joseph Capurso, head of foreign exchange at Commonwealth Bank of Australia, in a note.

“Labour markets are strong and getting stronger, so it’s a recipe for higher interest rates and a stronger dollar in the U.S.,” he added.

Investors are also monitoring closely the European Central Bank’s annual forum this week as they keep tabs on developing ⁠central bank ​policies amid reduced oil prices and stock market volatility.

ECB President ​Christine Lagarde kicks off the forum Monday before a major policy panel Wednesday with Fed Chair Warsh, with markets seeking for ​a clearer read on the next Fed leader.