Pakistan Archives - Page 4 of 22

Pakistan car sales surge 141% in July

August 14, 2026 by Business Desk

ISLAMABAD: Car sales in Pakistan rose 141.28% in July 2026 compared with the same month last year, according to data released by the Pakistan Automotive Manufacturers Association.

A total of 17,216 vehicles were sold in July 2026, compared with 7,135 units in July 2025, marking a significant year-on-year increase.

The data also showed growth in electric vehicle sales during the month, indicating rising demand for EVs in the domestic market.

The sharp increase in overall vehicle sales comes at the start of the new fiscal year, with the auto sector showing signs of recovery after a period of weaker demand.:

Pakistan introduces new policy framework to boost oil imports

August 10, 2026 by Pakistan Desk

ISLAMABAD: Pakistan has decided to introduce a new policy framework aimed at facilitating international oil suppliers and strengthening the country’s energy security.

Under the new framework, global petroleum suppliers will be allowed to bring petroleum products into Pakistan, store them in customs-bonded storage facilities, and sell them to local oil marketing companies and refineries or re-export the stocks.

The policy has been designed to attract foreign suppliers and create a stronger energy security buffer for the country.

Under the Import Policy 2026, new regulations have been introduced for international suppliers using customs-bonded storage facilities.

The guidelines provide a mechanism for suppliers to maintain petroleum stocks in Pakistan without immediately triggering local duties and taxes.

The new framework will also provide greater flexibility to suppliers in deciding whether to supply products to the domestic market or re-export their stored inventory.

Officials said the initiative is expected to improve supply chain efficiency, encourage private sector participation and enhance Pakistan’s petroleum reserves management system.

Pakistan played key diplomatic role in bringing US, Iran to talks

August 13, 2026August 8, 2026 by World Desk

ISLAMABAD: Pakistan played an important mediating role in reducing tensions between the United States and Iran by helping bring the two countries to the negotiating table, according to an analysis by policy platform South Asian Voices.

The analysis, which focuses on security, political and economic developments in South Asia, said Pakistan established communication channels between Washington and Tehran at a time when relations between the two sides had reached a critical point of heightened tensions and mutual confrontation.

According to the report, Pakistan succeeded in facilitating dialogue between a global power and a key regional player, playing a diplomatic role that major countries including China, France, Germany, India and the United Kingdom were unable to achieve.

The analysis stated that more than 20 hours of talks between US and Iranian representatives in Islamabad marked the highest-level direct engagement between the two countries since the 1979 Iranian Revolution.

It added that although both Washington and Tehran accused each other of violating the ceasefire arrangements, neither side completely abandoned the negotiation process.

The report noted that blaming the mediator for failure would be inaccurate, as maintaining dialogue between opposing parties remains a significant diplomatic achievement in itself.

Saudi Arabia, Pakistan and Turkiye sign Makkah Defence Pact

August 7, 2026 by Pakistan Desk

MAKKAH: Saudi Arabia, Pakistan and Turkiye have signed a joint defence agreement under which an armed attack against any one of the three countries will be considered an attack against all three nations.

The agreement, named the Makkah Defence Joint Agreement, was signed during a trilateral defence summit held at Qasr Al-Safa in Makkah, attended by Saudi Crown Prince Mohammed bin Salman, Turkish President Recep Tayyip Erdoğan and Pakistan Prime Minister Shehbaz Sharif.

Pakistan’s Foreign Office said the pact aims to strengthen collective defence capabilities against any act of aggression and expand defence cooperation among the three countries.

Under the agreement, an attack on one of the three signatories would trigger a collective response, with the countries committing to work together to enhance regional security and stability.

Prime Minister Shehbaz Sharif arrived in Saudi Arabia a day earlier with a Pakistani delegation, while President Erdoğan reached Makkah on the day of the summit.

The agreement follows a previous mutual defence pact between Pakistan and Saudi Arabia, under which both countries agreed that aggression against either nation would be treated as an attack against both.

Pakistan beat West Indies by 8 wickets to draw Test series 1-1

August 13, 2026August 5, 2026 by World Desk

PORT OF SPAIN: Pakistan defeated the West Indies by eight wickets in the second Test on Thursday, leveling the two-match series 1-1 and ending a run of eight consecutive away Test defeats.

Chasing a modest target of 75, Pakistan reached 76-2, with Abdullah Shafique and captain Babar Azam remaining unbeaten on 24 runs each. Earlier, Imam-ul-Haq scored 9, while Azan Awais made 18.

Pakistan’s bowlers set up the victory by dismissing the West Indies for 117 in their second innings on the fourth day. Spinners Sajid Khan and Ali Usman claimed four wickets each.

The West Indies resumed the day on 103-6 but lost their remaining wickets for just 14 more runs. Injured opener Brandon King did not bat due to a back injury.

The victory marked Pakistan’s first away Test win since defeating Sri Lanka in 2023.

Pakistan posts 387, secures first-innings lead over West Indies

August 13, 2026August 4, 2026 by World Desk

PORT OF SPAIN, Trinidad: Pakistan were bowled out for 387 in their first innings on the third day of the second Test against the West Indies on Tuesday, securing a 43-run lead after the hosts posted 344.

Resuming on 266-2, Pakistan built on a solid overnight position through captain Babar Azam and Abdullah Shafique, but the partnership ended when Babar fell for 88 off 147 balls, missing out on a century by 12 runs. His innings included 10 fours and one six.

Pakistan then lost two more wickets in the space of six deliveries before wicketkeeper Mohammad Rizwan added 25 runs with Abdullah Shafique. Rizwan scored 18 before being bowled by Jomel Warrican.

Abdullah Shafique anchored the innings with a composed 153 off 312 balls, while Sajid Khan contributed 30 before Pakistan were dismissed for 387, earning a 43-run first-innings advantage.

Earlier, the West Indies had elected to bat first after winning the toss and were dismissed for 344. Sajid Khan led Pakistan’s bowling attack with four wickets, while Obaid Shah, Mohammad Ali and Ali Usman claimed two wickets each.

The West Indies lead the two-match series 1-0 after winning the opening Test.

Pakistan exempt from new US visa bond program

August 4, 2026 by Pakistan Desk

WASHINGTON: Pakistani nationals have been exempted from a US visa bond program that requires citizens of certain countries to provide a refundable financial guarantee of up to $20,000 when applying for visitor visas.

Under the program, which has been made permanent after initially being introduced as a pilot in 2025, applicants from designated countries seeking business or tourist visas may be required to pay a refundable bond ranging from $10,000 to $20,000, depending on the assessment of immigration authorities.

According to international reports, the list includes 50 countries, including Bangladesh, Nepal and several African nations. The maximum refundable bond for eligible applicants has been increased from $15,000 to $20,000 under the updated policy.

Pakistan is not included in the list of countries subject to the visa bond requirement. Afghanistan, India and Iran are also not part of the program, meaning their citizens will not be required to post the refundable financial guarantee under the policy.

West Indies all out for 344 against Pakistan in first innings

August 13, 2026August 3, 2026 by World Desk

PORT OF SPAIN: West Indies cricket team were bowled out for 344 in their first innings against Pakistan national cricket team on the opening day of the second Test.

Pakistan were 121 for 2 in 26 overs in their first innings at stumps after bowling out the West Indies for 344 on the opening day of the second Test.

Captain Babar Azam was unbeaten on 19, while Abdullah Shafique remained not out on 32, guiding Pakistan after the early loss of two wickets.

After winning the toss and electing to bat, the hosts posted a competitive total, led by half-centuries from Justin Greaves, who scored 73, and Roston Chase, who made 70.

Brandon King contributed 46 runs, while Shai Hope scored 29 and Amir Jangoo added 26.

For Pakistan, Sajid Khan claimed four wickets, while Ubaid Shah, Mohammad Ali and Ali Raza took two wickets each.

Earlier, West Indies captain Roston Chase opted to bat first after winning the toss. Pakistan captain Babar Azam said his side would also have chosen to bat first and vowed to play positive cricket.

West Indies entered the match with a 1-0 lead in the two-Test series.

Pakistan raises LNG prices by record $6.45 per MMBTU

August 1, 2026 by Pakistan Desk

ISLAMABAD: Pakistan has recorded the highest-ever increase in liquefied natural gas (LNG) prices, with the Oil and Gas Regulatory Authority (OGRA) raising the sale price for July by up to $6.45 per MMBTU.

According to an OGRA notification, the LNG sale price has increased significantly, with the rate on the Sui Northern Gas Pipelines Limited (SNGPL) system rising to $25.83 per MMBTU.

The LNG price on the Sui Southern Gas Company (SSGC) system has also increased to $25.80 per MMBTU, according to the notification.

The increase comes as Pakistan had to purchase five expensive spot LNG cargoes in July due to the tense situation in the Middle East, resulting in a sharp rise compared with June prices.

Despite regional tensions, Pakistan received a new LNG cargo from Qatar; however, higher global market costs pushed domestic LNG prices to record levels.

Pakistan repays $2.2b in external debt, including $1.4b Chinese loan

July 30, 2026 by Pakistan Desk

ISLAMABAD: Pakistan repaid $2.2 billion in external debt in July, including a $1.4 billion commercial loan from China, as part of efforts to reduce debt-servicing pressure and strengthen the country’s external financial position, State Bank of Pakistan (SBP) Governor Jameel Ahmad said.

Speaking to reporters after attending a meeting of the Senate Standing Committee on Finance, Ahmad said Pakistan’s external debt repayment obligations for the current fiscal year have declined from $26.5 billion to $21.5 billion, while about $3.5 billion will be paid in interest.

The SBP governor said the government expects the $1.4 billion Chinese commercial loan to be refinanced by Chinese banks within the next few weeks, although the rollover has not yet been completed.

He added that Pakistan will also require the rollover of about $12 billion in deposits and loans from Saudi Arabia and China during the fiscal year.

Ahmad said the central bank purchased $28 billion from the foreign exchange market over the past three years to build Pakistan’s foreign exchange reserves. Of the $2.2 billion repaid in July, $1.4 billion was used to settle the Chinese commercial loan, while the remaining $800 million was allocated to servicing other external liabilities.

The governor said the government’s strategy of managing external repayments while increasing foreign exchange reserves is aimed at easing financing pressures and maintaining macroeconomic stability.