Latest News
Goods transporters cease 40-day national strike after discussions with goverment
Goods transporters have announced that they will defer their nationwide strike for 40 days following negotiations with government representatives in Karachi.
The talks were held at the Governor House in Karachi and were attended by Sindh Governor Nihal Hashmi, Karachi Mayor Murtaza Wahab, Federal Minister for Communications Abdul Aleem Khan and All Pakistan Goods Transporters Association President Malik Shahzad.
Addressing a press conference after the negotiations, Malik Shahzad said the transporters had decided to defer the strike following government assurances.
He said the nationwide strike had continued for nine days and the Sindh government had assured them that the parking issue would be resolved.
He added that the government had sought 15 days to determine whether petroleum prices would be reviewed every 15 days or once a month.
According to Malik Shahzad, Abdul Aleem Khan also assured the transporters that a committee would be formed to review toll taxes and consider reducing them.
He said the government had also assured them that 10-wheelers would be allowed to carry an appropriate weight.
“Some of our issues have been resolved by the federal and provincial governments, while others require cabinet approval,” he said, adding that assurances had also been given to address those matters.
Read also: Govt, goods transporters meet today as strike enters eighth day
He said meetings of the relevant committees would continue and expressed hope that the government would honour its commitments.
“We are not ending the strike; we are deferring it. If the assurances are not implemented, we may resume our protest,” Malik Shahzad said.
Federal Communications Minister Abdul Aleem Khan said the government had addressed the transporters’ issues that could be resolved immediately, while some demands required formal procedures.
He said several committees had been constituted to complete the necessary process.
Aleem Khan also said the Karachi-Hyderabad road did not qualify as a motorway in its current condition. He announced that work on a new motorway from Sukkur to Hyderabad and Karachi would begin this year.
Sindh Governor Nihal Hashmi said the regional situation was unusual and that the economic impact of ongoing conflicts was being felt not only in Pakistan but around the world.
He said the prime minister and field marshal were working to ensure that the positive outcomes of their efforts reached the public.
Hashmi added that the government and transporters had listened to each other and agreed that both sides were ready to make every possible sacrifice for the country.
Karachi Mayor Murtaza Wahab said the authorities had spent the day working to resolve the issues. He assured that the Sindh government would address matters falling within its jurisdiction and said efforts would continue to resolve the problems through dialogue.
Business
More than 700 trucks loaded with relief supplies have crossed into Afghanistan from Pakistan.
The United Nations said Sunday that more than 700 trucks delivering international humanitarian aid reached Afghanistan via Pakistan, despite a near-total shutdown of the land border between the two countries during skirmishes in October.
The convoy was transporting “food and other critical humanitarian items,” Olga Cherevko, spokesperson for the UN Office for the Coordination of Humanitarian Affairs (OCHA) in Afghanistan, told AFP.
“724 trucks of humanitarian cargo have crossed into Afghanistan thru Torkham, reaching families who need it most,” tweeted Mo Yahya, the United Nations Resident & Humanitarian Coordinator for Pakistan.
He also thanked Islamabad and “all those who made it possible for us to maintain the humanitarian lifeline”.
But in early August, the World Food Program (WFP) warned that acute child malnutrition had risen to crisis levels in Afghanistan this year.
WFP said approximately 14 million Afghans are facing acute hunger, following deadly earthquakes last year, several climate-related calamities this year and the return of millions of Afghans from Iran and Pakistan since 2023.
The conflict with Pakistan has caused the near-total closure of the land border between the two countries since October 2025, significantly disrupting logistical routes for the delivery of humanitarian aid, WFP Deputy Executive Director Carl Skau told AFP in May.
Business
SBP: Federal government debt swells by Rs18.8tr in 28 months
In the first 28 months of the current period, federal government debt soared by Rs18,832 billion, with considerable increases in both domestic and external borrowing, documents of the State Bank of Pakistan stated.
The documents revealed that the overseas debt of the federal government climbed by Rs2,066 billion and its internal debt by Rs16,766 billion from March 2024 to June 2026. The surge means an average daily increase in debt of more than Rs22.40 billion.
The data showed that the federal government’s debt stood at Rs64,810 billion by February 2024, the last month of the caretaker government. The government’s total debt increased by Rs18,832 billion to Rs83,642 billion by June 2026 over the next 28 months.
According to the State Bank, the federal government’s internal debt stood at Rs42,675 billion in February 2024, which climbed to Rs59,441 billion by June 2026.
Similarly, the external debt of the federal government was Rs22,134 billion in February 2024, which increased to Rs24,201 billion in June 2026.
Business
PSX starts week on strong note, adds 484 points
The Pakistan Stock Exchange (PSX) started the new business week on a high note with the benchmark index gaining 484.38 points in the session.
The current index was 0.27 percent higher than the previous close of 180,104.61 at 180,588.99.
The index hit an intraday high of 181,158.86 and a low of 180,393.34. Volume for the session was 113,603,577 shares.
Asian equities nudged up on Monday, boosted by Chinese stocks ahead of major economic data, with investors keeping a careful eye on oil prices following large gains last week amid a truce in the Gulf crisis.
The U.S. dollar dipped into two-month lows after a slew of underwhelming data, including an unexpected fall in retail sales, prompted markets to give up on bets for an impending rate hike from the Federal Reserve. The CME Group’s FedWatch program currently shows a 30% chance of a rate hike next month, down dramatically from over 50% a week ago.
MSCI’s broadest index of Asia-Pacific equities outside Japan (.MIAPJ0000PUS), opens new tab increased 0.5% while Japan’s Nikkei (.N225), opens new tab gained 0.3%.
The CSI300 index of Chinese blue-chips, opens new tab increased 0.8% and the Hang Seng index, opens new tab climbed 1.6% ahead of the release of China’s activity statistics for July later in the day.
Industrial output is forecast to fall to 4.8% from 5.3% before. But investors may be braced for a positive surprise as exports surged on strong global AI demand last month.
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