Faraz Saeed

The Islamabad Talks were a breakthrough, but diplomacy takes time. US and Iran delegations were brought to the table, the ceasefire holds, and the process of building a durable peace through dialogue continues. Here is where the process stands and what comes next.

Shorts

Islamabad Talks process continues — Here's how

WAGAH, Lahore: Under the clear spring sky at the Wagah border, where flags and fences mark one of South Asia&rsquo;s most sensitive frontiers, Sikh pilgrims crossed into Pakistan on Friday, greeted with flower garlands, official receptions and visible warmth as Baisakhi celebrations began. The first batch of pilgrims from India entered through Wagah, a key crossing between Pakistan and India, to take part in one of Punjab&rsquo;s most significant seasonal gatherings. Pakistan issued around 2,800 visas for the festival, with officials confirming that 2,238 pilgrims arrived, while more than 600 did not travel. They were received by senior officials including Minister for Minority Affairs Sardar Ramesh Singh Arora, Additional Secretary for Shrines Nasir Mushtaq and Lahore Commissioner Maryam Khan, alongside representatives of the Pakistan Sikh Gurdwara Parbandhak Committee. For many arriving pilgrims, the reception set the tone for their journey.&nbsp;&lsquo;Happy with your welcome&rsquo;&nbsp;&ldquo;Our revered late Guru Ji has blessed us with such grace that we received such a warm welcome here. We are very happy with your welcome,&rdquo; one pilgrim told Pakistan TV Digital. The journey from Wagah leads into the fertile plains of Punjab, where wheat fields are nearing harvest and towns carry the rhythm of an agrarian season turning. Baisakhi, rooted in this landscape, marks the harvest cycle and the beginning of a new year in Punjab&rsquo;s traditional calendar. &ldquo;We have come with devotion, and we are satisfied with the arrangements here,&rdquo; another pilgrim said. The main ceremony will take place on April 14 at Gurdwara Panja Sahib, a revered site nestled at the foothills near Hasan Abdal.&nbsp;Birthplace of Guru NanakDuring their 10-day stay, pilgrims will also travel to Nankana Sahib, the birthplace of Guru Nanak, moving across a geography that holds deep historical and cultural resonance. &ldquo;The facilities provided to us, including accommodation and food, are good,&rdquo; a third pilgrim noted. Officials say extensive arrangements have been made, including accommodation, langar, transport, and medical services to support the visitors throughout their stay. &ldquo;Everything is well managed, and we feel comfortable here,&rdquo; another pilgrim said. Additional Secretary Shrines Mushtaq confirmed that all preparations were in place and reiterated that the main ceremony would be held at Panja Sahib.&nbsp;The minority affairs minister framed the visit in broader terms, particularly in the context of strained relations following the May 2025 conflict between Pakistan and India.&nbsp;&lsquo;First home for Sikhs&rsquo;&nbsp;&ldquo;Pakistan is not a second but the first home for Sikhs,&rdquo; Arora said. &ldquo;Pakistan is the first home for Sikhs, and we will continue to welcome them.&rdquo; He added that issuing thousands of visas despite tensions reflects Pakistan&rsquo;s commitment to peace and people-to-people engagement. &ldquo;Our doors will remain open,&rdquo; he said. The minister also announced that 17 gurdwaras would become functional this year, with restoration work on 34 more sites expected to be completed within two years.&nbsp;Kartarpur Corridor&nbsp;He urged India to fully open the Kartarpur Corridor to facilitate easier access for pilgrims. Beyond India, pilgrims from Europe, Canada, Australia, and Malaysia are also expected, with special facilitation counters set up at airports across Pakistan. Leaders of Sikh groups welcomed the arrangements. Representatives from Indian gurdwara committees expressed appreciation for the hospitality and visa facilitation, describing the visit as both spiritual and cultural. &ldquo;We are thankful for the opportunity to visit and for the arrangements made,&rdquo; another pilgrim said. As the celebrations continue until April 19, the movement of pilgrims across borders and into Punjab&rsquo;s heartland reflects a seasonal rhythm that predates modern boundaries, one tied to harvests, journeys and shared spaces shaped by history and land.

Culture

Foreign Affairs

The first batch of pilgrims from India entered through Wagah, a key crossing between Pakistan and India, to take part in one of Punjab’s most significant seasonal gatherings.

Indian Sikh pilgrims arrive for Baisakhi, laud Pakistan’s warm hospitality

ISLAMABAD: A statement from Islamabad moved S&amp;P 500 futures. Now, as Pakistan prepares to host US-Iran talks, global markets are reacting, Asia down, Europe in red, oil up nearly 7%.&nbsp; Markets aren&rsquo;t just watching Islamabad, they&rsquo;re moving with it, explains Pakistan TV Digital&rsquo;s Faraz Saeed.

A statement from Islamabad moved S&P 500 futures. Now, as Pakistan prepares to host US-Iran talks, global markets are reacting, Asia down, Europe in red, oil up nearly 7%. Markets aren’t just watching Islamabad, they’re moving with it, explains Pakistan TV Digital’s Faraz Saeed.

Global markets shift as Islamabad prepares US-Iran talks

LAHORE: Pakistan&rsquo;s digital economy could contribute between 5%-7% of gross domestic product by 2030, provided structural constraints are addressed and reforms accelerate, according to a new report by the Overseas Investors Chamber of Commerce and Industry (OICCI).&nbsp;Titled &ldquo;Recommendations for Pakistan&rsquo;s Digital Future,&rdquo; the OICCI Digital Report 2025 presents a detailed assessment of the country&rsquo;s digital landscape, highlighting both measurable gains and persistent bottlenecks shaping future growth.&nbsp;The report frames Pakistan&rsquo;s digital sector as a rapidly expanding but uneven ecosystem, where strong growth in connectivity, exports and digital finance is being tempered by infrastructure gaps and slow policy execution, raising the stakes for reforms needed to unlock its full economic potential.&nbsp;The report identifies the digital sector as an emerging driver of productivity, exports and financial inclusion, supported by a growing user base and rising adoption of digital services.&nbsp;Pakistan&rsquo;s IT and IT-enabled services (ITeS) exports have reached $3.8 billion, while the freelance economy contributes $779 million in earnings.&nbsp;Digital access continues to expand, with more than 150 million broadband subscriptions and over 200 million telecom connections. The broader mobile ecosystem contributes an estimated $17 billion to the national economy.&nbsp;The report also underscores rapid growth in digital finance.&nbsp;&ldquo;Pakistan has made notable strides in digital payments and financial inclusion. The Raast instant payment system processed Rs18 trillion in peer-to-peer transactions in FY26, demonstrating the rapid adoption of digital financial services,&rdquo; said OICCI President Yousaf Hussain.&nbsp;However, infrastructure limitations remain a key constraint.&nbsp;Only 18% of cellular towers are connected through fiber, well below the global benchmark of around 40%, limiting network capacity and readiness for next-generation technologies.&nbsp;Policy execution is another concern.&nbsp;While engagement on digital policy has improved, implementation remains slow. The report notes that only about one-quarter of recommendations from OICCI&rsquo;s 2022 Digital Report have been carried out.&nbsp;&ldquo;Only about one-quarter of OICCI&rsquo;s digital policy recommendations issued in OICCI&rsquo;s Digital Report 2022 have been implemented so far. Faster execution, improved fiber penetration and a more investment-friendly regulatory environment will be essential to unlock Pakistan&rsquo;s digital potential,&rdquo; said M. Abdul Aleem, Secretary General of OICCI.&nbsp;To address these gaps, the report recommends reducing taxes on broadband services and digital devices, accelerating fiber deployment, ensuring regulatory clarity in data protection and cybersecurity, and strengthening public-private collaboration.&nbsp;The government has set a target of $5 billion in IT exports for FY26, while analysts project exports could reach around $4.5 billion, implying annual growth of 18% to 20% from the $3.8 billion recorded in FY25.&nbsp;Under the broader Uraan Pakistan framework, policymakers are targeting $10 billion in IT exports by FY29, requiring a compound annual growth rate of approximately 27%.&nbsp;The report concludes that while Pakistan&rsquo;s digital economy is expanding and foundational elements are in place, closing infrastructure gaps, accelerating policy implementation, and investing in advanced skills such as artificial intelligence and cybersecurity will determine whether current momentum translates into sustained economic impact

Economy

Pakistan’s digital economy is growing fast and could reach 5–7% of GDP by 2030, driven by rising IT exports, digital payments, and increasing internet and mobile use.

Pakistan digital economy seen reaching 7% GDP by 2030: Report

LAHORE: Gold prices rebounded on Wednesday after a nine-session decline that stripped more than 20% from the metal&#39;s value. Easing oil prices and tentative signs of Middle East&nbsp;<a href="https://www.pakistantv.com/article/trump-says-iran-negotiators-fear-being-killed-by-own-people" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">de-escalation</a>&nbsp;steadied sentiment following one of the sharpest corrections in recent months. Spot gold rose nearly 2% to $4,551.50 an ounce. US gold futures for April delivery climbed more than 3% to $4,565.60. Prices had fallen from around $5,200 to near $4,100 earlier in the week. Crude markets drove the recovery. Brent&nbsp;<a href="https://www.pakistantv.com/article/us-israeli-war-on-iran-day-26" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">fell about 5%</a>&nbsp;and West Texas Intermediate dropped roughly 4% as fears over supply disruptions through the Strait of Hormuz, a critical global shipping route, eased. President Donald Trump said the United States and Iran were &quot;in&nbsp;<a href="https://www.pakistantv.com/article/us-15point-plan-conveyed-to-iran-via-pakistan-officials" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">negotiations</a>.&quot; Iranian officials later denied direct talks were underway, according to AFP. Gold&#39;s safe-haven status offered little protection during the selloff. Rising oil prices had pushed inflation expectations higher, prompting investors to reassess the monetary policy outlook. Markets began pricing in a prolonged period of elevated Federal Reserve rates. Bond yields climbed. The US Dollar Index strengthened. Both factors weigh on gold by eroding its appeal against yield-bearing assets and raising its cost for holders of other currencies. The scale of the decline went beyond macroeconomic forces alone. The Head of Research at Floret Capitals, Talha Naveed, said the downturn reflected converging pressures across energy markets, investor positioning, and physical gold trade flows. It was not, he said, a straightforward response to geopolitical developments. Disruptions in physical gold markets added further pressure. In Dubai, a key global trading hub, supply chain interruptions and reduced activity led to localized price dislocations. Physical gold traded at discounts in some regions. Falling equity markets compounded the selloff. Margin calls forced institutional investors to liquidate gold holdings (considered among the strongest-performing assets over the past year) to raise cash and rebalance positions. &quot;That profit-taking accelerated downside momentum despite gold&#39;s safe-haven status,&quot; Naveed said. He also cited technical factors. Gold had entered overbought territory after an extended rally. The geopolitical shock acted as a catalyst for a correction toward key long-term support levels, not the start of a new downward trend. Major financial institutions maintained bullish longer-term outlooks. Goldman Sachs said the pullback was consistent with historical patterns tied to rising rate expectations. Bank of America projected gold could reach $6,000 per ounce within 12 months. UBS said prices could climb further under sustained geopolitical stress.

A woman walks past jewelleries on display shop at a gold market in Lahore. (AFP)

Business

Gold surged nearly 2% after tumbling for nine sessions, as easing oil prices and signs of Middle East calm helped steady markets following a steep selloff that erased over 20%.

Gold drops sharply as oil-driven rate concerns weaken safe-haven appeal

LAHORE: As Eid ul Fitr festivities concluded, markets across Pakistan witnessed peak commercial activity, capping weeks of heightened economic momentum driven by festive spending. Eid ul Fitr, one of the most significant occasions in the Islamic calendar, marked the conclusion of Ramadan, the holy month of fasting, prayer and reflection. The festival began with special congregational prayers, followed by family gatherings, exchange of gifts, charitable giving and shared meals, as Muslims celebrated both spiritual renewal and community. On the eve of Eid, commercial centers across the country, especially in the eastern city of Lahore, remained crowded late into the night as last-minute shoppers finalized purchases ranging from clothing and footwear to jewelry and mehndi. At Liberty Market, the rush intensified as families completed their Eid preparations. &ldquo;I was shopping for jewelry and clothes, and I also planned to get mehndi done,&rdquo; said Sidra, a shopper speaking to Pakistan TV Digital. &ldquo;My total budget was around Rs30,000 [$107] to Rs40,000 [$143].&rdquo; Retailers reported an exceptional season, with strong consumer turnout translating into significant gains. Muhammad Tayyab, a shopkeeper, described the surge in business as unprecedented in recent years. &ldquo;Sales increased by around 70% to 80% compared to previous years,&rdquo; he said. &ldquo;In the past seven years, business had not been this strong. This Eid season brought a very positive change for retailers.&rdquo; The spike in commercial activity reflected broader seasonal financial trends. The State Bank of Pakistan reported that currency in circulation rose by approximately Rs1.5 trillion ($5.38 billion) in FY25, with a marked increase during Ramadan and Eid due to heightened consumer spending. In addition, around Rs27 billion ($96.8 million) in fresh currency notes were issued ahead of Eid last year, helping facilitate transactions during the peak shopping period. Fresh notes are preferred for the tradition of Eidi, where elders give cash gifts to children and younger family members. Crisp currency symbolizes festivity and generosity, making it ideal for gifting during Eid. Economic experts pointed to further inflows boosting purchasing power. &ldquo;Zakat and Fitrana, estimated at Rs50 billion [$179.2 million] to Rs70 billion [$251 million] this year, circulated among lower-income groups,&rdquo; said Waqas Ghani, Head of Research at JS Global. &ldquo;Remittances also typically increased by 15% to 30% during this period, further fueling spending across markets.&rdquo; As the country marked Eid, the convergence of spiritual celebration and economic activity highlighted the festival&rsquo;s dual significance, strengthening both social bonds and commercial vitality nationwide.

Pakistan’s Eid economy surges as spending peaks, with Rs1.5 trillion in circulation, Rs27 billion in fresh notes issued, and Rs50–70 billion redistributed through Zakat, Fitrana and rising remittances.

Eid spending surge fuels retail boom across Pakistan markets

LAHORE: Pakistan recorded a current account surplus of $427 million in February, marking its strongest monthly performance since March last year, according to data released by the State Bank of Pakistan.&nbsp; The latest figure also represents the second consecutive monthly surplus, following January&rsquo;s $60 million surplus, signalling a gradual improvement in the country&rsquo;s external position. Despite the recent gains, the broader picture remains mixed. During the first eight months of the current fiscal year (July-February FY26), Pakistan posted a cumulative current account deficit of $700 million, sharply contrasting with the $479 million surplus recorded in the same period last year. Officials, however, see the recent trend as encouraging. The finance minister&rsquo;s advisor, Khurram Shehzad, described February&rsquo;s numbers as a sign of strengthening fundamentals, pointing to robust remittance inflows, growth in value-added exports, and controlled import expansion as key drivers behind the improvement. Analysts echo this view, noting that higher remittances and a reduction in the income deficit played a crucial role in offsetting the persistent trade gap. The narrowing of external imbalances has also helped ease pressure on foreign financing needs. While risks remain, particularly due to ongoing regional tensions, the back-to-back surpluses suggest that Pakistan&rsquo;s external account is stabilizing.&nbsp; With adequate buffers in place, the development is being seen as a step toward sustainable economic recovery and a potential boost to investor confidence.

A stock broker walks past a digital board showing share prices at the Pakistan Stock Exchange (PSX) in Karachi on March 10, 2026. (AFP)

Pakistan posted back-to-back current account surpluses, led by strong remittances and controlled imports, signalling improving external stability despite a year-to-date deficit.

Pakistan’s current account surplus hits 11-month high in February

LAHORE: At first glance, the room feels like a modest neighborhood caf&eacute;. Tables are neatly arranged, diners sit comfortably over warm plates of food, and volunteers move quietly between them, refilling dishes and offering water.&nbsp;There is no cashier, no bill and no rush to leave.&nbsp;Everyone eats for free.&nbsp;Across Pakistan, spaces like these community kitchens are quietly redefining how charity works. Rather than lining people up for handouts, many charities create settings that resemble ordinary restaurants, allowing visitors to sit, share a meal and leave with their dignity intact.&nbsp;The idea is simple: help people without making them feel like recipients of charity.&nbsp;This approach reflects a wider national ethos where generosity is woven deeply into daily life. In Pakistan, charity is not just an occasional act of kindness. It is widely seen as a social responsibility.&nbsp;That culture of giving is also visible in global data.&nbsp;According to the World Giving Report 2025, analyzed locally by the Pakistan Centre for Philanthropy, 73% of Pakistanis donated money in 2024, well above the global average of 64% and the Asian regional average of 69%. Pakistan ranked 17th out of 101 countries in overall generosity.&nbsp;Perhaps even more striking is how much people give relative to their income. On average, Pakistanis donated 1.64% of their earnings, compared with a global average of 1.04%.&nbsp;The numbers suggest generosity in Pakistan is driven less by wealth than by values.&nbsp;Religion plays an important role in shaping those values. In Islam, charity is not merely encouraged but considered a religious duty. Obligatory contributions such as zakat, along with voluntary charity known as sadaqah, form a central part of religious life.&nbsp;During Ramadan, charitable giving often surges as families and communities mobilize to help those in need.&nbsp;The scale of these contributions is significant. Research conducted jointly by the International Centre for Tax and Development and the Lahore University of Management Sciences found that Pakistanis donated Rs619 billion in zakat in 2024, equivalent to about $2.19 billion.&nbsp;The survey, based on phone interviews, estimated that around 50 million Pakistanis contributed, with an average donation of nearly Rs15,000 ($53) per person.&nbsp;Overall, charitable giving in Pakistan accounts for more than one percent of the country&rsquo;s GDP, according to the Stanford Social Innovation Review. That level places Pakistan alongside wealthier nations such as the United Kingdom and Canada and is roughly double the share of giving relative to GDP in India.&nbsp;But statistics tell only part of the story.&nbsp;Much of Pakistan&rsquo;s charity work is carried out by grassroots welfare organizations operating across multiple sectors. One example is Saylani Welfare International Trust, which runs community kitchens, vocational training centers and aid programs across the country.&nbsp;A charity worker explained how everyday donations sustain their operations.&nbsp;&ldquo;Our organization has many donors who help run this institution,&rdquo; the worker told Pakistan TV Digital. &ldquo;Saylani Welfare helps people in many different sectors. We provide free meals, or langar, to people. Our organization also teaches skills to people. We distribute clothes among poor people, and we also provide ration to those in need.&rdquo;&nbsp;Programs like these turn charitable contributions into practical support. Free meal services ensure no one goes hungry, while vocational training aims to help people develop skills and earn a living independently. Clothing drives and ration distribution further support families struggling with rising costs.&nbsp;Yet some of the most powerful acts of generosity in Pakistan never appear in official reports.&nbsp;Much of the giving happens quietly, person to person. Families help neighbors pay hospital bills. Shopkeepers allow struggling customers to take groceries on credit, sometimes forgiving the debt entirely.&nbsp;Communities often pool money to support families facing sudden hardship.&nbsp;Over time, these informal networks have become a vital social safety net.&nbsp;Even during periods of economic pressure, the willingness to give remains remarkably resilient. For many Pakistanis, generosity is not measured by the size of a donation but by the intention behind it.&nbsp;Millions of small acts of kindness, repeated daily, form a vast and largely invisible system of support.

At first glance, the room feels like a modest neighborhood café. Tables are neatly arranged, diners sit comfortably over warm plates of food, and volunteers move quietly between them, refilling dishes and offering water

Pakistanis rank among world’s most generous givers, study shows

LAHORE: Rising global oil prices&nbsp;stemming from the <a href="https://www.pakistantv.com/article/usisrael-war-on-iran-day-11" target="_blank">war in the Middle East&nbsp;</a>have led Pakistan to implement emergency measures to protect its economy, with fuel costs and market volatility prompting authorities to act immediately. The crisis centers on the <a href="https://www.pakistantv.com/article/hormuz-crisis-as-iran-war-disrupts-global-oil-supply-and-fuel-prices" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Strait of Hormuz</a>, through which roughly 20% of the world&rsquo;s oil supply passes. Oil futures surged 31%, with West Texas Intermediate briefly hitting $119.48 per barrel and Brent at $119.50. This marks the first time prices have crossed $100 since the Russian-Ukrainian War started in 2022. The spike follows escalating tensions in the Middle East, which forced Gulf producers to cut output. This prompted some commercial vessels to avoid the strait. With only a limited number of tankers initially transiting the strait, there were fears of major supply disruptions. Prices eased after a G7 meeting suggested coordinated measures, including the release of strategic reserves, and after US President Donald Trump said the conflict could conclude sooner than expected, CBS News reported. By Monday&rsquo;s close, WTI settled at $94.77 and Brent at $98.96 per barrel. Markets rebound Pakistan&rsquo;s financial markets reflected investor anxiety. The Pakistan Stock Exchange suffered its largest single-day drop on March 2, falling more than 16,000 points, according to Topline Securities. On March 9, the index fell by over 11,000 points after attacks on Iranian oil depots in Tehran. However, after Monday&#39;s panic tone, the local bourse witnessed a powerful comeback on Tuesday as confidence quickly returned to the market. The bulls charged aggressively from the opening bell, triggering a temporary market halt amid intense buying activity. Momentum remained strong throughout the session, pushing the index to an impressive intraday surge of 11,873 points, before settling at 156,177 (up 9,696 points or 6.62%). The market followed its Asian peers, which rebounded after oil prices plunged overnight. Some analysts see further signs of stabilization. Arif Habib Limited said global sentiment may be approaching a &ldquo;peak fear&rdquo; phase. &ldquo;Globally, it appears we are reaching &lsquo;peak fear&rsquo; moments and any positive news regarding the conflict will result in markets aggressively repricing higher,&rdquo; the brokerage said in its note. The firm stated that with the index down about 25% from its January peak, valuations may begin to attract long-term investors if geopolitical tensions ease. Domestic fuel prices Rising global oil prices have translated into higher domestic costs. Pakistan increased fuel prices by roughly 20% last week. Economists warned of ripple effects. Waqas Ghani of JS Global, speaking to Pakistan TV Digital, said a $10 per barrel increase could add $300 million immediately to the import bill and raise annual costs to up to $2 billion. Inflation could rise by about 0.6 percentage points. Economist Dr Ikram ul Haq, speaking to Pakistan TV Digital, noted the effect on transportation and essential goods, especially diesel-dependent logistics. He also cited Pakistan&rsquo;s reliance on petroleum levies and the broader fiscal implications of prolonged high oil prices, which could put pressure on foreign exchange reserves. Securing alternative supplies Pakistan has sought alternative energy sources. Saudi Arabia assured crude shipments via the Port of Yanbu on the Red Sea, bypassing the Strait of Hormuz. Petroleum Minister Pervaiz Malik said three shipments are expected soon, with one vessel already assured for crude loading at Yanbu. Energy analysts say the arrangement will help reduce the risk of supply disruptions. &ldquo;This arrangement will improve supply security,&rdquo; Ghani said. &ldquo;This move has allowed Pakistan to avoid disruption risk.&rdquo; Protecting trade, reducing consumption The Pakistan Navy launched Operation Muhafiz-ul-Bahr to safeguard maritime trade routes, the military said. The government also implemented austerity measures to reduce fuel consumption. Prime Minister Shehbaz Sharif <a href="https://www.pakistantv.com/article/pakistan-announces-austerity-measures-as-oil-supply-disrupted-by-middle-east-clashes" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">announced</a> a four-day workweek and work-from-home arrangements for half of the public and private-sector staff. Fuel allocations for government vehicles will be cut 50% for two months. Ministers will forgo salaries, parliamentarians will take a 25% cut, and senior officers will lose two days of pay. Schools will close for two weeks, universities will shift to online instruction, departmental spending will drop by 20%, official foreign travel will be suspended, and vehicle purchases will be banned. PM Sharif said the steps aim to shield citizens from the worst impact of rising oil prices. Meanwhile, the State Bank of Pakistan kept its policy rate at 10.5%, citing uncertainty from the Middle East conflict. The Monetary Policy Committee said higher fuel, freight, and insurance costs, along with trade and travel disruptions, could affect the economy depending on the conflict&rsquo;s intensity and duration. Officials stated that immediate measures are meant to cushion the economy. The long-term impact will depend on easing tensions in the Gulf and on global oil market stability.

Pakistan's stock market saw Monday's volatility with an 11,000-point drop amid Middle East war oil fears, but Tuesday brought a strong rebound, closing up 9,696 points (6.62%) at 156,177, as confidence returned and oil prices plunged.

Pakistan acts to shield economy amid Middle East oil crisis

LAHORE: When the first bombs dropped over Iran just over a week ago, many people outside the realm of geopolitics had no idea how rapidly the conflict would impact their finances. The military escalation between the US, Israel, and Iran has swiftly triggered a global energy crisis. The conflict intensified in late February after a series of strikes by US and Israeli forces on Iranian infrastructure that triggered a forceful response from Tehran. Iran&rsquo;s Revolutionary Guard Corps (IRGC) began targeting tankers and vessels in and around the Strait of Hormuz, a critical shipping route that carries about 20 million barrels of oil and LNG daily (around 20% of the world&rsquo;s energy supply).&nbsp; Within days, insurers withdrew war‑risk coverage and major carriers halted shipping through the region, effectively grinding one of the world&rsquo;s most important energy corridors to a near halt.&nbsp; As a result, oil prices surged sharply. By March 7, Brent crude and WTI crude rose above $90 per barrel, increasing more than 25% within a week, one of the largest weekly spikes in years.&nbsp; Within days of the crude price spike, ordinary consumers began feeling the effects at fuel pumps around the world. In the United States, according to data from the American Automobile Association, the national average price for regular gasoline as of March 6 stood at $3.32 per gallon, up 11% from a week earlier and the highest since September 2024. Diesel prices have jumped sharply worldwide. In the US, diesel hit $4.33 per gallon, rising 15% in a week, which is the highest since November 2023. The UK also saw increases, with petrol at &pound;136.53/L and diesel at &pound;148.35/L, both reaching 16-month highs. Across Europe, prices are climbing too: Germany&rsquo;s A-95 averages &euro;1.96/L (up from ~&euro;1.80 in February), France is around &euro;1.82&ndash;&euro;1.83/L, and Italy and Portugal have risen 6-10&nbsp;cents in recent weeks. Fuel prices across Europe have risen since February. Smaller markets like Belgium, Spain, the Baltic states, and Poland saw increases of 6-10 cents per litre. Scandinavia remains expensive, with prices around &euro;1.92 in&nbsp;Sweden, &euro;1.98 in Denmark, &euro;1.95 in Finland, &euro;2.05 in Norway, while the Netherlands is the highest at &euro;2.19 per litre. Outside the EU, Moldova&rsquo;s gasoline is about 24.33 lei per litre, showing regional spillover effects. Asia&#39;s Growing PainThe shock has not spared Asia. In South Korea, gasoline prices climbed to 1,871.83 won per liter, up 178.94 won since Feb. 28, while diesel rose to 1,887.38 won per litre, prompting concerns about rising logistics and transportation costs.&nbsp; The Philippines expects diesel to rise by over 20 pesos per liter and gasoline by more than 11 pesos. Thailand is preparing for a 15% hike in diesel prices, but has temporarily frozen prices. In India, the price of a 14.2-kg LPG cylinder has risen 7% to 913 rupees.&nbsp; On March 6, Pakistan raised petrol and diesel prices by Rs55 per liter (about a 20% increase), triggering panic buying at fuel stations before the price increase took effect. When traffic through the Strait of Hormuz chokepoint slows, global oil supply tightens, and prices rise quickly. While some developed nations have reserves, many developing economies feel the impact immediately, with fuel costs rising for consumers in cities like New York, London, Seoul, Manila, and Karachi.&nbsp; The key question is whether this will be a short-term shock or the start of a deeper energy crisis.

US and Israeli strikes on Iran in late February triggered retaliation around the Strait of Hormuz, disrupting a key global energy corridor and sending Brent crude oil prices above $90 a barrel, a surge of more than 25% in a week.
The supply shock has driven sharp fuel price increases worldwide from the United States and Europe to Asia and Pakistan. 

Hormuz crisis: Iran war disrupts global oil supply, raises fuel prices

Web Desk

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif will depart for Jeddah on Wednesday for an official visit to Saudi Arabia, kicking off a significant four-day official tour spanning Saudi Arabia, Qatar, and Turkiye from April 15 to 18, according to an official statement.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 688px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2044273504418447435&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=8826cd1edd93237dc0a2dec520b30130f6da51cf&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px">&nbsp;&nbsp;</iframe></div></div>The prime minister will be accompanied by a high-level delegation, the statement said, without sharing further details. The announcement comes shortly after Finance Minister Aurangzeb said that Saudi Arabia has committed an additional $3 billion in deposits to Pakistan, with disbursement expected within a week, providing timely support for the country&rsquo;s external financing needs.&nbsp;Speaking to the media on the sidelines of the <a href="https://www.pakistantv.com/article/pakistan-finance-minister-outlines-macroeconomic-outlook-reform-progress-at-uspakistan-business-council-luncheon" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">World Bank-IMF Spring Meetings 2026</a>, the finance minister said the Kingdom has also agreed to extend its existing $5 billion deposit for a longer period, moving away from the earlier annual rollover arrangement. During his visits to Saudi Arabia and Qatar, the prime minister is expected to hold high-level meetings with the leadership of both countries to discuss bilateral cooperation as well as regional peace and security. In T&uuml;rkiye, the prime minister will participate in the Antalya Diplomacy Forum, where he will join a leaders&rsquo; panel to present Pakistan&rsquo;s perspective on key global issues. On the sidelines of the forum, Sharif is also expected to meet Recep Tayyip Erdoğan and other world leaders.Pakistan&rsquo;s participation in the forum reflects its commitment to constructive diplomacy, multilateral cooperation and engagement on global challenges. The prime minister will be accompanied by a high-level delegation, including Deputy Prime Minister and Foreign Minister Ishaq Dar, Information Minister Attaullah Tarar, and Special Assistant to the Prime Minister Syed Tariq Fatemi, along with other senior officials.

Prime Minister Shehbaz Sharif meets the Crown Prince and Prime Minister of Saudi Arabia Prince Muhammad bin Salman on March 12, 2026, in Jeddah.

Pakistani Prime Minister Shehbaz Sharif will depart for Jeddah on Wednesday for an official visit to Saudi Arabia.

Pakistan's PM to begin three-nation visit to Saudi Arabia, Qatar and Turkiye

ISLAMABAD: Pakistan&#39;s Finance Minister Muhammad Aurangzeb said Tuesday that the country&#39;s leadership is not giving up on efforts to help the US and Iran negotiate.&nbsp; &quot;We would very much like to see if we can continue to pursue the dialogue,&quot; he said during an interview with the Associated Press on the sidelines of the spring meetings of the International Monetary Fund and World Bank. &quot;We&#39;ll keep at it, and our leadership is at it.&quot; Aurangzeb said&nbsp;the&nbsp;talks marked the first direct discussion between the two nations in nearly 50 years. The finance minister said he also met this week with US officials, including Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, to discuss trade and finance concerns. He plans to meet Treasury Secretary Scott Bessent on Friday. In a phone call with The New York Post, President Trump said Tuesday a second round of talks with Iran &quot;could be happening over the next two days,&quot; indicating that the venue could be Islamabad.

Muhammad Aurangzeb - (File Photo: Wikimedia Commons)

Pakistan's Finance Minister says Pakistan will continue to push US-Iran dialogue as talks resume, and Donald Trump signals a possible second round soon.

Pakistan won't quit US-Iran mediation, says finance minister

BEIJING: Russia&#39;s foreign minister said that his country could make up for China&#39;s energy shortages as shipping through the Strait of Hormuz is choked by the US-Israeli war with Iran, Russian state media reported Wednesday. &quot;Russia can, without a doubt, compensate for the shortfall in resources that has arisen&quot; for China and &quot;other countries that are interested in working with us&quot; Sergei Lavrov said at a news conference in Beijing, in response to a question about the Hormuz blockage. He also said that Russian President Vladimir Putin will visit China in the first half of the year, Moscow&#39;s TASS state news agency reported. Russia and China&#39;s close economic and political partnership has deepened since Moscow&#39;s 2022 invasion of Ukraine. Lavrov, who began a two-day visit to Beijing on Tuesday and met President Xi Jinping on Wednesday, characterised the bilateral relationship as &quot;unshakable in the face of any storms&quot;, Russia&#39;s TASS and RIA Novosti news agencies reported. Ties between the countries &quot;play a stabilising role in world affairs&quot; and are &quot;becoming increasingly important... for the global majority that does not want problems or turbulence&quot;, he said. Lavrov&#39;s visit comes during the same week as a string of foreign leaders meet with Xi in the Chinese capital, including To Lam of Vietnam and Pedro Sanchez of Spain.

China

Asia

Sergei Lavrov says Russia can offset China’s energy shortfall amid disruptions in the Strait of Hormuz, as Moscow and Beijing deepen strategic ties.

Russia can 'compensate' for China's resource gap from Iran war

Web Desk/AFP

WASHINGTON:&nbsp;Israel and Lebanon released a joint statement saying that they held &ldquo;productive discussions&rdquo; and agreed to launch direct negotiations as the two sides met in Washington, the United States said on Tuesday. &quot;The participants held productive discussions on steps toward launching direct negotiations between Israel and Lebanon,&quot; State Department spokesperson Tommy Pigott said in a statement. &quot;All sides agreed to launch direct negotiations at a mutually agreed time and venue,&quot; he said. The announcement came after Israeli and Lebanese envoys held more than two hours of talks mediated by US Secretary of State Marco Rubio. &quot;The United States congratulated the two countries on this historic milestone and expressed its support for further talks, and for the government of Lebanon&#39;s plans to restore the monopoly of force and to end Iran&#39;s overbearing influence,&quot; Pigott said. And it &quot;affirmed that any agreement to cease hostilities must be reached between the two governments, brokered by the United States, and not through any separate track,&quot; he added. Lebanon was pulled into the region-wide Iran war on March 2 after pro-Tehran Hezbollah attacked Israel. Since then, Israeli strikes have killed more than 2,000 people and displaced more than one million, despite international calls for a ceasefire, and Israeli ground forces have invaded southern Lebanon.

Middle East

Israel and Lebanon agree to launch direct negotiations after “productive” talks in Washington mediated by Marco Rubio, marking a potential step toward de-escalation.

Israel, Lebanon agree to direct negotiations after 'productive' talks: US

ISLAMABAD: Pakistan&#39;s Minister for Finance and Revenue Muhammad Aurangzeb said that Saudi Arabia has committed an additional $3 billion in deposits to Pakistan, with disbursement expected within a week, providing timely support for the country&rsquo;s external financing needs. Speaking to the media on the sidelines of the&nbsp;<a href="https://www.pakistantv.com/article/pakistan-finance-minister-outlines-macroeconomic-outlook-reform-progress-at-uspakistan-business-council-luncheon" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">World Bank-IMF Spring Meetings 2026</a>, the finance minister said the Kingdom has also agreed to extend its existing $5 billion deposit for a longer period, moving away from the earlier annual rollover arrangement. <div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 672px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2044247340308148616&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Fdashboard%2F&sessionId=6cce7b9fd498f49855a1f8e1b89c9a140954b443&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px">&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>Aurangzeb said the fresh inflows would help strengthen Pakistan&rsquo;s foreign exchange reserves and support its external account, as the government aims to build reserves to around $18 billion, equivalent to about 3.3 months of import cover, by the end of the current fiscal year. He said Pakistan remains committed to meeting all external obligations on time, noting that the recent repayment of a $1.4 billion Eurobond was completed smoothly. The minister said Pakistan&rsquo;s external financing plan is well-defined and being implemented in a disciplined manner under the IMF-supported program. He added that during his visit, he held detailed talks with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan and senior Pakistani officials to finalize the support package. Aurangzeb expressed gratitude to the Saudi leadership, particularly Crown Prince Mohammed bin Salman, for continued financial backing and close cooperation. He said Pakistan is receiving strong recognition from international financial institutions, including the International Monetary Fund and the World Bank, as well as global investors, for its economic reforms and diplomatic engagement. The minister added that Pakistan is advancing efforts to diversify funding sources through initiatives such as the Global Medium-Term Note program and a planned Panda Bond issuance. Aurangzeb reaffirmed the government&rsquo;s commitment to macroeconomic stability, continuity of reforms, and sustained engagement with bilateral and multilateral partners.

Pakistan's Finance Minister Muhammad Aurangzeb, alongside State Bank Governor Jameel Ahmad, met Saudi Finance Minister H.E. Mohammed bin Abdullah Al-Jadaan in Washington on the sidelines of the World Bank-IMF Spring Meetings 2026.

The finance minister said the Kingdom has also agreed to extend its existing $5 billion deposit for a longer period, moving away from the earlier annual rollover arrangement.

Saudi Arabia commits $3B in additional deposits for Pakistan: FM Aurangzeb

GAZA CITY: Gaza&#39;s civil defense agency said on Tuesday that a toddler was among 10 people killed in separate Israeli strikes in the northern part of the Palestinian territory. Violence continues despite a ceasefire in the Gaza war that came into effect on October 10, with both Israel and Hamas regularly accusing each other of violations. Mahmoud Bassal, spokesman for the civil defense agency, said &quot;four people were killed, including a child and several others were injured... in a strike targeting a police vehicle&quot; in Gaza City. He identified the child as three-year-old Yahya al-Mallahi. Gaza City&#39;s Al-Shifa hospital confirmed receiving the bodies of the dead. Contacted by AFP, the Israeli army said it was looking into the details. In a statement, Gaza&#39;s interior ministry said Israeli warplanes had &quot;targeted a police vehicle&quot; in the city centre, &quot;causing several deaths and injuries.&quot; Bassal also said another person had been killed by Israeli fire in the northern Beit Lahia area earlier on Tuesday. The military said in a statement that its troops had identified an &quot;armed terrorist&quot; in the area of the so-called Yellow Line &mdash; behind which its forces have withdrawn &mdash; who approached their position. The army said he was killed in a strike, but it was unclear whether it referred to the same incident in Beit Lahia. AFP footage showed Palestinians gathering around the body of a man who was then placed on a stretcher and carried away to be buried through streets lined with rubble. Later on Tuesday evening, the civil defense agency reported that multiple people were killed in another strike near an intersection in the Al-Shati refugee camp in Gaza City. The Al-Shifa hospital confirmed receiving five bodies from &quot;an Israeli drone bombing with two missiles a group of citizens in front of warehouses for electricity generators&quot; in Al-Shati. The military did not offer an immediate response regarding the latest strike. The October ceasefire followed more than two years of war on Gaza. At least 757 have been killed in Gaza since the truce came into effect, according to the territory&#39;s health ministry, whose figures are considered reliable by the United Nations. The Israeli army says five of its soldiers have been killed in Gaza over the same period. Media restrictions and limited access in Gaza have prevented AFP from independently verifying casualty figures or freely covering the fighting.

Violence continues despite a ceasefire in the Gaza war that came into effect on October 10, with both sides accusing each other of violations; at least 757 have been killed in Gaza since the truce came into effect.

Gaza civil defense says toddler among 10 killed in Israeli strikes

ISLAMABAD: Pakistan&rsquo;s Finance Minister Muhammad Aurangzeb on Tuesday briefed participants at a luncheon of the US-Pakistan Business Council on the country&#39;s macroeconomic outlook and reform progress. The finance minister departed for the United States to participate in the World Bank Group&ndash;IMF Spring Meetings 2026, to be held in Washington, from April 13 to 18, 2026. The minister met the United States Trade Representative on the sidelines of the World Bank-IMF Spring Meetings 2026 to discuss trade and investment cooperation. In a post on the Finance Ministry&rsquo;s X account, Finance Minister Aurangzeb interacted with representatives of US companies operating in Pakistan on the sidelines of the World Bank&ndash;IMF Spring Meetings 2026. Highlighting the approval of a staff-level agreement on the third review under Pakistan&rsquo;s Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), the finance minister outlined the economic impact of the ongoing conflict in the Middle East, particularly in terms of energy procurement, pricing, and logistics. According to the statement, the finance minister elaborated on the &ldquo;government&rsquo;s policy response, including measures focused on supply chain stabilization, demand management, and the provision of fiscally-neutral targeted subsidies.&rdquo; He also highlighted emerging positive developments, including a &ldquo;significant surge in transshipment volumes through Karachi Port and record inflows under the Roshan Digital Account initiative.&rdquo; Underscoring the ongoing efforts to broaden the tax base, the finance minister talked about the &ldquo;particular focus&rdquo; the government has &ldquo;on bringing segments of the informal professional economy into the tax net through targeted Federal Board of Revenue (FBR) audits and sector-specific engagement.&rdquo; An interactive question-and-answer segment was held at the end of the discussion, reflecting strong interest from participants in Pakistan&rsquo;s economic trajectory and reform agenda.

Finance minister interacts with representatives of US companies operating in Pakistan on the sidelines of the World Bank–IMF Spring Meetings 2026.



Pakistan's finance chief outlines macroeconomic outlook, reform progress at US-Pakistan Business Council 

This live blog follows updates for Day 47 of the US-Israeli war on Iran. For a recap of Day 46, go <a href="https://www.pakistantv.com/article/usisrael-war-on-iran-day-46" style="color: rgb(0, 0, 0);">here</a>.<hr style="line-height: 2;"><ul style="list-style-type: square;"><li id="isPasted" style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; line-height: 2;">US-Israel Iran war continues amid ceasefire, ongoing diplomatic efforts</li><li id="isPasted" style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; line-height: 2;">Trump says the second round of peace talks in Pakistan could happen&nbsp;</li><li id="isPasted" style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; line-height: 2;">Israel, &nbsp;Lebanon move toward direct talks seeking ceasefire, stability</li><li id="isPasted" style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; line-height: 2;">Strait of Hormuz tensions disrupt oil flow despite partial crossings and talks</li><li id="isPasted" style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; line-height: 2;">Global markets rise cautiously on hopes of conflict de-escalation and agreement</li></ul><hr style="line-height: 2;"> Iranian citizen who was held in France returns: state TVPublished: April 15, 2026 | 05:38 GMT | By AFP Iranian national Mahdieh Esfandiari, who was held in France for over a year, has returned home, Iranian state television reported Wednesday, a week after Iran released two French citizens. &quot;Mahdieh Esfandiari, a Palestinian rights activist, has returned to Iran after her release from prison in France,&quot; state television said. Esfandiari&#39;s release came a week after French citizens Cecile Kohler and Jacques Paris, who spent more than three years in Iranian prisons on espionage charges, arrived in France. <hr> Pakistan won&#39;t quit US-Iran mediation, says finance minister Published: April 15, 2026 | 04:46 GMT | By Web Desk Pakistan&#39;s Finance Minister Muhammad Aurangzeb said Tuesday that the country&#39;s leadership is not giving up on efforts to help the US and Iran negotiate.&nbsp;&quot;We would very much like to see if we can continue to pursue the dialogue,&quot; he said during an interview with the Associated Press on the sidelines of the spring meetings of the International Monetary Fund and World Bank. &quot;We&#39;ll keep at it, and our leadership is at it.&rdquo;&nbsp;Aurangzeb said the talks marked the first direct discussion between the two nations in nearly 50 years. <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page; font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"> Russia can &#39;compensate&#39; for China&#39;s resource gap from Iran warPublished: April 15, 2026 | 03:56 GMT | By AFP Russia&#39;s foreign minister said that his country could make up for China&#39;s energy shortages as shipping through the Strait of Hormuz is choked by the US-Israeli war with Iran, Russian state media reported Wednesday.&nbsp;&quot;Russia can, without a doubt, compensate for the shortfall in resources that has arisen&quot; for China and &quot;other countries that are interested in working with us&quot; Sergei Lavrov said at a news conference in Beijing, in response to a question about the Hormuz blockage. <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page; font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"> Iran must commit to &#39;no nuclear weapon&#39;Published: April 15, 2026 | 02:43 GMT | By Web Desk US Vice President JD Vance said Trump told Iran that the United States would &quot;make Iran thrive&quot; if it committed to &quot;not having a nuclear weapon&quot;. At the heart of any renewed US-Iran diplomacy is the dispute over Tehran&#39;s nuclear programme, with Trump launching the war under the pretext that the Islamic Republic was developing an atomic bomb &mdash; which it denies. &quot;That&#39;s the kind of Trumpian grand bargain that the president has put on the table. Man, we&#39;re going to keep on negotiating and try to make it happen,&quot; Vance told an event in the US state of Georgia hosted by the conservative group Turning Point USA. <hr> Vance says talks made a &lsquo;ton of progress&rsquo; in Pakistan&nbsp;Published: April 15, 2026 | 01:46 GMT | By Web Desk US Vice President JD Vance has said that the negotiations in Pakistan made a &quot;ton of progress,&quot; adding that President Donald Trump did not want a small deal; he was looking for a &ldquo;grand bargain.&rdquo; &ldquo;He [Trump] said that if you&#39;re [Iran] willing to act like a normal country, we are willing to treat you economically like a normal country,&rdquo; Vance said. <hr> Canada, Australia, UK and others call for &lsquo;urgent end to hostilities in Lebanon&rsquo;Published: April 15, 2026 | 01:25 GMT | By Web Desk Canada, the United Kingdom, Australia, Japan, Brazil, Colombia, Indonesia, Jordan, Sierra Leone, and Switzerland have issued a joint statement, expressing deep concern about &ldquo;the worsening humanitarian situation and displacement crisis in Lebanon,&rdquo; Al Jazeera reported. The countries welcoming the ceasefire between the US, Israel, and Iran, and countries called for &ldquo;an urgent end to hostilities in Lebanon,&rdquo; too. &ldquo;Civilians and civilian infrastructure must be protected from the effects of hostilities. Humanitarian personnel, who dedicate themselves to protecting and assisting the most vulnerable, must be respected and protected,&rdquo; the statement said &ldquo;Attacks that threaten the safety and security of humanitarian personnel must stop. International humanitarian law must be upheld by all parties to the conflict in all circumstances,&rdquo; it added. The countries also condemned &ldquo;in the strongest terms actions that have killed UN peacekeepers and significantly increased the risks faced by humanitarian personnel in southern Lebanon.&rdquo; <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page; font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"> Trump says war on Iran &#39;very close to over&#39; &nbsp;Published: April 15, 2026 | 0:44 GMT | By Web Desk US President Donald Trump has said that in his view, the US-Israel war on Iran was &ldquo;very close to over.&rdquo;&nbsp; In response to a question as to why he was referring to the war on Iran in the past tense, the US president said: &ldquo;I think it&rsquo;s close to over.&rdquo;&nbsp; &ldquo;I mean, I view it as very close to over,&rdquo; Trump said.&nbsp; While speaking to Fox News, the US president said that if he were to raise the &ldquo;stakes&rdquo; in the war, it would take Iran 20 years to rebuild their country.&nbsp; &ldquo;I think they want to make a deal very badly,&rdquo; he said. <hr style="line-height: 2;"> Rubio meets Egyptian foreign minister, discusses Iran ceasefirePublished: April 15, 2026 | 00:58GMT | By Web Desk US Secretary of State Marco Rubio met with Egyptian Foreign Minister Badr Abdelatty, Al Jazeera reported. A spokesperson for Rubio said the leaders &ldquo;discussed the ceasefire with Iran and the importance of securing long-term peace in the Middle East.&rdquo; The statement further noted that Rubio &ldquo;also discussed joint efforts to disarm Hamas, in line with the President&rsquo;s 20-Point Plan for Gaza, and explored ways to bolster the US-Egypt economic and commercial relationship.&quot; Rubio also &ldquo;stressed the importance of ongoing US and Egyptian efforts to achieve a humanitarian truce in Sudan,&rdquo; the statement read. <hr> Guterres expresses enormous admiration for PakistanPublished: April 14, 2026 | 22:49GMT | By AFP UN Secretary-General Antonio Guterres expressed enormous admiration for Pakistan for the peace talks held in Islamabad last week.&nbsp; The UN official said that it was a very important initiative that Pakistan has assumed in order to bring peace to the Middle East.

Americas

US president says if he were to raise the stakes in the war, it would take Iran 20 years to rebuild, adds Iran wants to make a deal "very badly"; UN secretary-general expresses enormous admiration for Pakistan for Islamabad talks, terms it a "very important initiative"; VP Vance says negotiations in Pakistan made "ton of progress."



Trump says war on Iran 'very close to over'  

ISLAMABAD: The foreign ministers of Pakistan, Saudi Arabia, T&uuml;rkiye, and Egypt will meet in Ankara on Friday, a press release issued by Pakistan&rsquo;s Ministry of Foreign Affairs said on Tuesday.&nbsp; The foreign ministers of the four nations met last month in Islamabad for consultations aimed at de-escalating the ongoing conflict involving Iran and the US. The meetings highlighted Pakistan&rsquo;s expanding diplomatic outreach as regional powers intensified coordination to contain the conflict affecting security, humanitarian conditions, and global economic stability. In a press release issued today, the foreign office said that in a follow-up consultative meeting, senior officials of the respective foreign ministries met today in Islamabad. The Pakistan delegation to the meeting was led by the Foreign Affairs Spokesperson Tahir Andrabi, and the delegations of T&uuml;rkiye, Egypt, and Saudi Arabia were headed respectively by Deputy Foreign Minister Ambassador Musa Kulaklikaya; Assistant Foreign Minister Ambassador Nazih El Naggari; and MFA Director General Prince Dr Abdullah bin Khalid bin Saud Al-Kabeer AlSaud. The deliberations of the meeting held in Islamabad will be submitted for consideration at the forthcoming meeting of the four foreign ministers on the sidelines of the Antalya Diplomacy Forum (ADF). The senior officials also made a joint call to the Deputy Prime Minister and Foreign Minister Ishaq Dar and Foreign Secretary Ambassador Amna Baloch.

The foreign ministers will participate in the Antalya Diplomacy Forum; foreign office says officials of the respective foreign ministries met today in Islamabad.

Pakistan, Saudi Arabia, Türkiye and Egypt to meet in Ankara on Friday

DHAKA: About 250 people, including children, were feared missing after a boat carrying Rohingya refugees and Bangladeshi nationals capsized in the Andaman Sea, the United Nations said on Tuesday.&nbsp;&quot;The trawler, which departed from Teknaf in southern Bangladesh and was on its way to Malaysia, reportedly sank due to heavy winds, rough seas, and overcrowding,&quot; the United Nations High Commissioner for Refugees (UNHCR) said in a statement.&nbsp;Thousands of Rohingya, Myanmar&#39;s persecuted Muslim minority, risk their lives every year fleeing repression and civil war in their country by sea, often aboard makeshift boats.&nbsp;The Rohingya on board the boat were likely leaving huge camps in Bangladesh&#39;s Cox&#39;s Bazar, where more than a million refugees forced to flee Myanmar&#39;s western state of Rakhine live in squalid conditions.&nbsp;Rakhine state has been the scene of fierce fighting between the military and the Arakan Army, an ethnic minority rebel group, over control of the territory.&nbsp;The exact circumstances surrounding the latest incident were unclear, but preliminary information indicated that the vessel was carrying 280 people and left Bangladesh on April 4.&nbsp;&quot;This tragic incident reflects the dire consequences of protracted displacement and the absence of durable solutions for the Rohingya,&quot; the UNHCR statement said.&nbsp;It was also &quot;a reminder of the efforts urgently needed to address the root causes of displacement in Myanmar and create conditions that would allow Rohingya refugees to return home voluntarily, safely and with dignity,&quot; it said.&nbsp;The Andaman Sea stretches along the western shores of Myanmar, Thailand and the Malay Peninsula.&nbsp;Last year, the UNHCR said that 427 Rohingya were feared dead at sea in two shipwrecks off the Myanmar coast in May.

The United Nations says about 250 people, including children, are feared missing after a boat carrying Rohingya refugees and Bangladeshi nationals capsizes in the Andaman Sea.

Articles by Faraz Saeed