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Trump: US-Iran deal to reopen Strait of Hormuz by Friday
US President Donald Trump said Monday (Jun 15) that ships were again sailing through the Strait of Hormuz and the key oil conduit would be “completely open” by Friday after Washington and Tehran reached a deal to end the Middle East war.
The restoration of one of the world’s most critical energy chokepoints would be a huge step towards ending months of deadly conflict and economic instability ignited by US-Israeli strikes on Iran in late February.And ships are starting to go, a lot of ships with Oil, out of the Strait of Hormuz,” Trump said, later adding that he did not “think we will need much help” keeping the waterway open.
Iranian television said on Monday evening that three oil tankers and two cargo ships carrying products had crossed through the area which had been under a US naval blockade.
Iran had blockaded the strait since the start of the war, sending oil prices skyrocketing and stoking fears of a sustained inflation shock. The US then prevented transport in and out of Iranian ports.
The peace accord was to be signed Friday in Switzerland, the US, Iran and mediator Pakistan announced.
But a senior US administration official said Trump, Vice President JD Vance and Iran’s parliamentary speaker Mohammad Bagher Ghalibaf had already electronically signed the text.“The president wanted to sign it personally because he wanted to show his … commitment to bring this through to a successful resolution,” the official said.
Asked at the G7 in France when the text will be disclosed, Trump said: “It’s a very powerful document, and I want it to be publicised. So, probably quite soon.
The pact brought a “immediate end” to the war, with talks on a “final agreement” to be reached within two months, Iran’s Deputy Foreign Minister Kazem Gharibabadi said.
His country’s military praised the pact as a victory that had “humiliated” the US and Israel, and President Masoud Pezeshkian termed it “a great achievement” for the region.
But Iranian Foreign Minister Abbas Araghchi took a more cautious line.We have a history of not keeping our promises,” he said. “We have a history of agreements being ripped up. It’s all in our heads.
LEBANON ASKS
Iran’s foreign ministry spokesperson Esmaeil Baqaei said Washington should ensure Israel ceases fighting in Lebanon under the accord.
Early March saw Lebanon drawn into the war after Iran-backed Hezbollah fired missiles into Israel following the killing of Iran’s supreme leader, triggering Israeli raids and a ground invasion.The US should live up to its pledges. Baqaei remarked that “it must make the Zionist regime respect its own in terms of Lebanon.”
Israeli Prime Minister Benjamin Netanyahu said Israeli forces would stay in Lebanon, Syria and Gaza “as long as necessary.”
He said the conflict with Iran had saved Israel from the prospect of “nuclear annihilation” by the Islamic republic. Israeli figures across the political spectrum denounced the pact.
Lebanese President Joseph Aoun said he believed the accord would be a “positive step towards reducing tensions” in a chat with Araghchi.
Lebanese state media later claimed the first death strike since the announcement stating the Israeli airstrike in the south killed one person.
Hezbollah, which hailed Iran for demanding Lebanon be included in the pact, said it had pushed back an Israeli force aiming to “advance” into southern Lebanon.
VAGUE TERMS
Weeks of difficult discussions and fears of renewed hostilities preceded the pact, but important elements remain unclear.
Washington had “pledged” to release frozen Iranian funds overseas and to pay Tehran damages for the conflict, Baqaei claimed.
Iran’s Mehr news agency stated the US would release $12 billion in frozen assets before negotiations.
Tehran would seek the UN Security Council’s ratification after negotiations on a final accord on its nuclear programme, Baqaie said.
That might be controversial, with Washington pushing to terminate Iran’s nuclear ambitions and its stockpile of highly enriched uranium, which is alleged to have been buried by US strikes last year.
Trump told The New York Times that the US was still discussing whether Iran would agree to cease enrichment for 20 years, suggesting he could be willing to settle for 15.
Baqaei said the costs Iran would levy on ships using the Hormuz passage would be for maritime services, not tolls.
Traders wagering the reopening of a route that normally delivers around 20 per cent of the world’s crude will ease strain on energy supply pushed oil prices significantly lower and buoyed global markets.
Oil prices tumbled over 5 percent toward $80 a barrel after surging above $110 soon after the battle began. The Dow established a fresh record, and the Nasdaq soared more than 3 percent.
In Tehran, English instructor Arya, 38, claimed “our people will not return to normal.“They realised Trump wasn’t on their side,” he continued.
Latest News
Maryam inaugurates 5 road projects under Punjab PPP Authority
– Punjab Chief Minister Maryam Nawaz Sharif has digitally inaugurated five road projects under the Punjab Public-Private Partnership Authority, with the management and operation of the five roads handed over to the private sector.
The transfer of the projects under the Punjab Public-Private Partnership Authority is expected to generate Rs22 billion in revenue for the Punjab government. Modern electronic toll plazas will also be established on roads shifted to the PPP model.
The projects include the 80-kilometre Muridke-Narowal Road, 33-kilometre Shakargarh-Narowal Road and 97-kilometre Faisalabad Ring Road. The 52-kilometre Faisalabad-Sahianwala Road and 56-kilometre Faisalabad-Samundri-Rajana Road are also part of the PPP projects.
Under the arrangement, private contractors will collect tolls linked with the National Highway Authority for seven years, while the private companies will also be responsible for maintenance, construction and repair of the respective roads.
Vice Chairperson of the Punjab Public-Private Partnership Authority and Senior Minister Marriyum Aurangzeb briefed the meeting on the projects. She said projects involving hostels, hospitals, parks, sports grounds, waste-to-energy facilities, parking plazas, tourism, water supply and recycling were also in the pipeline under the PPP authority.
Effluent treatment plants for filtering toxic industrial wastewater, as well as Zarrar Cafe, tourism and food street projects, will also be completed under the PPP model.
The processing time for projects under the Punjab Public-Private Partnership Authority has been reduced from less than two years to six months.
Four more roads in Punjab will be shifted to the PPP model, including the 42-kilometre Bahawalpur-Yazman Road, 43-kilometre Yazman-Ahmadpur East Road, 28-kilometre Raiwind-Changa Manga Road and 26-kilometre Gajjumata-Kasur Road.
Water and sanitation services projects in Chakwal and Kasur will also be completed under public-private partnerships. In Lahore, the Tourism Department will develop a Time Travel Park under the PPP model.
For the first time, an FMD vaccine protection plant will be established to combat foot-and-mouth disease among livestock. A parking plaza and multimodal commercial facility will also be developed at Badami Bagh bus terminal, while a bridge will be constructed at Sahuka Pattan over the River Sutlej under the PPP model.
Black soldier fly larvae facilities will be established for solid waste management at vegetable and fruit markets across Punjab. The management of 100 sports grounds and other facilities will also be carried out under the PPP framework.
A modern truck terminal will be developed in Faisalabad under the PPP model. Girls’ and boys’ hostels will be constructed at Punjab University and 28 other public-sector universities, while hostels at three medical colleges will also be developed through public-private partnerships.
Fourteen hostels will be established across the province for working women under the PPP model. The operation and development of the Nursing Hostel at Sahiwal Teaching Hospital and Faridia Park Sahiwal will also be undertaken through public-private partnerships.
Projects worth up to Rs500 million can be approved and implemented through the divisional PPP working party headed by the commissioner.
Chief Minister Maryam Nawaz Sharif appreciated Finance Secretary Mujahid Sher Dil, Communications Secretary Raja Jahangir Anwar, PPP Authority CEO Dr Zeeshan Hanif and their team for their efforts. Provincial Communications Minister Sohaib Ahmed Bharth, Finance Secretary Mujahid Sher Dil and Communications Secretary Raja Jahangir Anwar also addressed the ceremony.
Business
Jet fuel price rises by Rs9.05 per litre in Pakistan
Jet fuel prices have once again increased in the country, along with the price of kerosene oil.
The price of jet fuel has been increased by Rs9.05 per litre, while kerosene oil has become Rs7.68 per litre more expensive.
Following the increase, the new price of jet fuel has been fixed at Rs355.52 per litre, while kerosene oil will now cost Rs329.54 per litre.
Meanwhile, according to a notification issued by the Petroleum Division, the price of petrol has also been increased by Rs2.10 per litre, taking its new price to Rs392.76 per litre.
Business
Govt sets deadline of 20th Oct for pilgrims to pay 2nd Hajj installment
The religious affairs ministry stated late Friday that the federal government has fixed October 20 as the deadline for intending pilgrims selected under the government Hajj system to deposit the second installment of their pilgrimage dues.
ISLAMABAD: Pakistan has set aside 107,526 slots for the government plan, including 30,000 for a shorter package, and another 71,696 slots have been granted to the private scheme for next year’s Hajj.
The country on Aug. 25 completed online booking of all tickets in the government Hajj scheme, the first time the whole quota has been filled through a digital reservation system.
The ministry of religious affairs said in a statement on Friday that the applications of pilgrims for next year’s Hajj will be cancelled if they did not pay by the deadline.
“The dates for depositing the second installment of dues for Hajj pilgrims under the government scheme have been fixed from 5 October to 20 October, 2026,” the ministry said.
“If the second installment is not deposited within the deadline, then the Ministry said the pilgrim’s application will be cancelled and the amount deposited earlier will be refunded to the pilgrim’s account,” the Ministry said.
Under the government arrangement, pilgrims can pay the second payment of Hajj dues through the ‘Pak Hajj App’ or digital Hajj site within the stipulated deadline.
The government said that submitting the Hajj medical fitness certificate on the ‘Pak Hajj’ app or the digital Hajj portal was essential before depositing the second installment.
This year the government announced that pilgrims will pay Rs1.2 million ($4,334) for a 40-day Hajj package and Rs1.3 million ($4,695) for a shorter, 20- to 25-day package under the government system.
The first installment of dues for seats under the shorter government package was paid within 24 hours of the process starting on Aug 18 and the rest of the seats under the plan were booked by Aug 25.
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