Category: Latest News

Ahsan Iqbal Warns of Rising Poverty and Inequality Over Seven Years, Calls for Export-Led Growth Strategy

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ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal has revealed that Pakistan’s poverty rate has increased significantly under the 2024–25 estimates, with national poverty rising from 21.9 percent to 28.9 percent over the past seven years. Launching the Poverty and Inequality Estimates 2024–25 on Friday, the minister stated that rural poverty surged from 28.2 percent to 36.2 percent, while urban poverty climbed from 11 percent to 17.4 percent during the same period. “Poverty and economic inequality have increased over the last seven years due to irresponsibility and inconsistent economic…

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IMF spox says EFF reforms helped stabilise Pakistan’s economy

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The International Monetary Fund (IMF) has said that Pakistan’s policy efforts under its Extended Fund Facility (EFF) programme have “helped stabilise the economy and rebuild confidence” with fiscal performance described as “strong”. Speaking at a weekly press briefing on Thursday, IMF Communications Director Julie Kozack said a staff team is expected to visit Pakistan from February 25 to hold discussions on the third review under the EFF and the second review under the Resilience and Sustainability Facility (RSF). Kozack noted that Pakistan currently holds a primary fiscal surplus of 1.3% of gross domestic product…

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US Supreme Court strikes down Trump’s global ‘Liberation Day’ tariffs

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US Supreme Court

America’s top court has struck down some of US President Trump’s most sweeping tariff moves, concluding that he violated federal law by imposing the duties on nations around the world. In a six-to-three vote, the US Supreme Court decided that the International Emergency Economic Powers Act (IEEPA) does not empower the president to unilaterally impose tariffs. The judgment throws out the sweeping “Liberation Day” announcement made in April 2025, which saw Trump impose tariffs across US trading relationships and shake up key shipping markets.

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OGDC Announces Oil and Gas Discovery at Baragzai X-01 (Slant) in Kohat, Khyber Pakhtunkhwa

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ISLAMABAD, February 20, 2026: Oil and Gas Development Company Limited (OGDC), Pakistan’s leading exploration and production company, on Friday announced a significant oil and gas discovery at its exploratory well Baragzai X-01 (Slant), located in Kohat district of Khyber Pakhtunkhwa province.The discovery has been made over the Lumshiwal Formation within the Nashpa Exploration Licence. During Cased Hole Drill Stem Test (CHDST-04) conducted in the Hangu and Lumshiwal formations, the well produced 225 barrels of oil per day (BOPD) and 1.01 million standard cubic feet per day (MMSCFD) of gas through…

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SIFC-backed projects drive historic energy output surge in Pakistan

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Pakistan has achieved a major milestone in energy production with the support of the Special Investment Facilitation Council (SIFC), signaling historic progress in the country’s oil and gas sector. Officials emphasized that these developments will enhance energy security and strengthen the nation’s economic foundation. The initiative reflects Pakistan’s commitment to modernizing its energy infrastructure through strategic partnerships and technological innovation.The Oil and Gas Development Company Limited (OGDCL) has partnered with foreign firms and adopted advanced technical measures to boost daily production. Key agreements include collaboration with French company SNF S.A.…

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