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ISLAMABAD: President Asif Ali Zardari led a high-level consultative meeting at Aiwan-e-Sadr to assess the evolving economic and energy situation amid oil supply constraints and rising petroleum prices, as well as regional security developments, according to a press release issued by the President&#39;s Secretariat on Thursday.&nbsp; Prime Minister Shehbaz Sharif and Chief of Defence Forces Field Marshal Syed Asim Munir also attended the meeting. Other participants included cabinet members and senior government officials. The meeting reviewed the impact of fluctuations in global oil and gas supplies and prices on Pakistan&rsquo;s economy, with particular focus on managing inflationary pressures and ensuring energy security.&nbsp; The ministers for finance and petroleum briefed the meeting on ongoing measures to stabilize petroleum prices, manage the effects of rising fuel costs on other sectors of the economy, and enforce fiscal discipline through austerity measures to reduce expenditure pressures.&nbsp; The broader regional situation also came under discussion, including its implications for Pakistan&rsquo;s security, economic outlook and food security.&nbsp; The meeting emphasized the need for a coordinated national response, noting that policy decisions must prioritize stability while safeguarding the public interest. The meeting underscored the importance of maintaining national consensus and strengthening institutional coordination in view of emerging regional challenges. It was agreed that economic management, energy planning, food security, and broader security concerns must stay closely aligned to address this challenging situation. The meeting also emphasized the need for public awareness to reduce fuel consumption, encourage the use of public transportation and promote shared ride systems.

President Asif Ali Zardari chairs a high-level meeting attended by Prime Minister Shehbaz Sharif and Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir at Aiwan-i-Sadr on March 26, 2026. — Photo courtesy President’s Secretariat

Security

Meeting highlights need for national consensus and stronger institutional coordination to tackle regional challenges. Economic management, energy planning, food security, and security issues must stay aligned.

Pakistan leaders review energy crisis, economy amid regional tensions

ISLAMABAD: In a major boost for Pakistani hockey, the national team has qualified for the Hockey World Cup, ending an eight-year wait to return to the prestigious global tournament. Pakistan put up an impressive performance to edge Japan 4-3 in the semi-final of the FIH Hockey World Cup qualifier at the Suez Canal Authority Hockey Stadium in Egypt on Friday. The President emphasized need to promote sports such as hockey and football, stating that these are the games of working class and ordinary people, and they should be further developed across the country. Prime Minister Shehbaz Sharif also congratulated the national side, praising the players for their commitment and resilience. He advised the team to continue working hard and maintain the same level of dedication and determination as they prepare for the tournament. Pakistan&rsquo;s qualification marks a significant moment for the country&rsquo;s hockey revival, rekindling hopes among fans that the national team can restore its historic success.&nbsp;

Hockey

PM Sharif and President Zardari praise Pakistan’s national hockey team after their qualification, calling it a major step toward reviving the country’s historic success in hockey and urging continued dedication.

Pakistan seal Hockey World Cup spot with 4-3 win over Japan

ISLAMABAD: The Pakistan Meteorological Department (PMD) has warned that above-normal temperatures in northern Pakistan could accelerate glacial melt and heighten the risk of glacial lake outburst floods (GLOFs) in vulnerable mountain communities. In its latest assessment, the Met Office reported that rainfall and snowfall across northern regions remained below normal during the winter season, in line with its earlier seasonal forecast. Persistent clear skies and stable atmospheric conditions during the first three weeks of February have driven temperatures significantly higher than average across Gilgit-Baltistan (GB). From February 1 to 22, daytime temperatures were recorded 3&ndash;5&deg;C above normal, while nighttime temperatures remained 1&ndash;3.5&deg;C higher than the 1981&ndash;2010 climatological average. The highest warming was observed in Gilgit and Bunji. Chilas and Bunji also experienced notable increases in minimum temperatures, limiting overnight refreezing, a key natural process that helps stabilize snowpacks and glaciers. According to the PMD, sustained above-normal temperatures are accelerating snow and glacial melt, particularly at mid-to-lower altitudes. Reduced nighttime cooling is further increasing meltwater runoff into glacial lakes. Rapid melting contributes to rising water levels in moraine-and glacier-dammed lakes, increasing the likelihood of GLOF events in downstream valleys. The department&rsquo;s February&ndash;April 2026 outlook indicates a high probability of continued above-normal temperatures across northern Pakistan, including GB and Kashmir. If the warming trend persists, authorities fear an elevated risk of GLOFs in districts such as Gilgit, Ghizar, Hunza, Bunji, Chilas and Astore. The PMD said it is closely monitoring temperature trends, glacier melt conditions and other hydrometeorological indicators and will issue advisories to relevant authorities and local communities as needed. Temperature data collected between February 1 and 22 showed average readings of 4.7&deg;C in Gilgit, 4.5&deg;C in Bunji and 4.3&deg;C in Astore. Chilas recorded an average of 4.1&deg;C, while Gupis and Skardu each recorded 3.1&deg;C, the Met Office said Minimum temperatures remained well above historical norms across most stations. Environmentalists in the region say the warming trend reflects a broader shift in snowfall patterns over the past three years. Snowfall has increasingly been delayed until mid-January or February, with overall accumulation declining. According to GBEPA data, the average temperature in GB rose by approximately 0.6&deg;C between 1987 and 2013. In recent years, the region has witnessed an increase in flash floods, accelerated glacial melt and climate-linked disasters. Last summer, rapidly melting glaciers, GLOFs and cloudburst incidents caused widespread damage across parts of Gilgit-Baltistan, underscoring the growing vulnerability of mountain communities to climate change. With another warmer-than-normal season forecast, experts warn that residents living downstream of rivers and glacial lakes may face heightened risks in the months ahead.

Climate & Environment

The Met Office reports that rainfall and snowfall across northern regions remained below normal during the winter season, in line with its earlier seasonal forecast. Persistent clear skies and stable atmospheric conditions during the first three weeks of February have driven temperatures significantly higher than average across Gilgit-Baltistan (GB). 

Met Office warns of rising GLOF risk as temperatures surge in Gilgit-Baltistan

Faraz Saeed

LAHORE: Moody&rsquo;s Investors Service has revised Pakistan&rsquo;s banking sector outlook from &quot;Positive&quot; to &quot;Stable,&quot; citing slow economic recovery and improving financial conditions. &ldquo;We have changed our outlook on Pakistan&rsquo;s banking system to stable from positive,&rdquo; the global rating agency said on Monday.&nbsp; Moody&rsquo;s noted that the operating environment continues to recover, &ldquo;but only gradually, supported by the country&rsquo;s slowly improving economic and fiscal outlook and strengthening external position.&rdquo; The agency also highlighted that while banks&rsquo; financial performance will remain stable over the next 12-18 months, challenges related to asset quality and profitability persist.&nbsp; &ldquo;The sector outlook also aligns with that of the Government of Pakistan (Caa1 stable), given banks&rsquo; substantial holdings of government securities, which account for around half of total banking assets,&rdquo; Moody&rsquo;s said. It added that Pakistan&rsquo;s long-term debt sustainability remains uncertain due to a still-weak fiscal position and external vulnerabilities. Moody&rsquo;s projects that Pakistan&rsquo;s economy will grow by about 3.5% in 2026, a slight increase from 3.1% in 2025. Inflation has significantly reduced to 4.5% in 2025, down from 23% in 2024, but is expected to rise again to approximately 7.5% in 2026. Lower inflation is helping reduce borrowing costs, which may encourage more borrowing and stabilize banks&#39; loan quality. Despite recent floods affecting agriculture, the industrial and service sectors are expected to remain strong. Although there were initial spikes in loan defaults, Moody&rsquo;s anticipates robust credit growth in 2026. Even with some weaknesses, banks should keep their problem loan ratios around 8% and maintain solid capital ratios, indicating a healthy balance. Waqas Ghani, Head of Research, JS Global, said, &ldquo;It is clear that sustained improvement will depend on effective policy implementation and greater external financial support, as risks are still hanging around.&rdquo; He added of the revision that, &quot;This development is not expected to materially alter the overall outlook of the sector.&quot; However, the stable outlook does reflect a positive shift toward a more stable banking environment, linking banks&rsquo; health closely to the government&rsquo;s economic outlook. Lower interest rates are expected to support credit growth without significantly increasing risk. Overall, Moody&rsquo;s rating indicates that while there are still risks, Pakistan&rsquo;s banks are on a path to gradual recovery, offering a more balanced outlook in the current emerging-market landscape.

Economy

Moody’s has changed Pakistan’s banking outlook to stable, citing gradual economic recovery, lower inflation, improving financial conditions, and expectations that banks will remain stable and well-capitalized over the next year.

Moody’s revises Pakistan’s banking sector outlook to stable amid gradual recovery

ISLAMABAD: Bangladesh has &ldquo;requested&rdquo; Pakistan to play against India in the ICC T20 World Cup game on Feb. 15 for the benefit of the &ldquo;cricket ecosystem,&rdquo; said a statement by the Bangladesh Cricket Board on Monday.&nbsp; According to the statement, the Bangladesh Cricket Board (BCB) extended its appreciation to the Pakistan Cricket Board (PCB), the International Cricket Council (ICC), and all involved for their positive efforts to overcome recent challenges. In the statement, the BCB expressed its &ldquo;profound and heartfelt gratitude to PCB Chairman Mohsin Raza Naqvi, his Board and the cricket fans of Pakistan.&rdquo; &ldquo;Throughout this period, the PCB has demonstrated exemplary sportsmanship and solidarity&rdquo;, the statement added. BCB President Md Aminul Islam said, &ldquo;We are deeply moved by Pakistan&rsquo;s efforts to go above and beyond in supporting Bangladesh during this period. Long may our brotherhood flourish,&quot; he said. &ldquo;Following my short visit to Pakistan yesterday and given the forthcoming outcomes of our discussions, I request Pakistan to play the ICC T20 World Cup game on 15 February against India for the benefit of the entire cricket ecosystem,&rdquo; said Islam.

Cricket

'I request Pakistan to play the ICC T20 World Cup game on 15 February against India for the benefit of the entire cricket ecosystem,' said the Bangladesh Cricket Board president.

Bangladesh cricket board requests Pakistan to play India T20 World Cup match on Feb. 15 

ISLAMABAD: Prime Minister Shehbaz Sharif announced that Pakistan would invest $1 billion in artificial intelligence by 2030. He was speaking at the inaugural ceremony of Indus AI Week in Islamabad on Monday. Addressing participants at the event organized by the Ministry of Information Technology and Telecommunications, the prime minister said the investment would go a long way toward building indigenous AI infrastructure in the country. &quot;[This] event will not only transform Pakistan&rsquo;s technological landscape but will also prove to be a real game changer. In collaboration with our friendly and brotherly countries, we will move forward on this shared path with strong commitment and enthusiasm,&rdquo; he said. The PM said that AI would be integrated into the federal school curriculum across the country, including the tribal districts of Khyber Pakhtunkhwa, Azad Jammu and Kashmir, Gilgit-Baltistan, and the remote parts of Balochistan. &ldquo;This is to prepare the youth for leadership and the digital economy,&rdquo; he said.&nbsp; He announced that the government will provide 1,000 fully funded PhD scholarships in AI to youth by 2030, with the aim of building a world-class research center. PM Sharif said the government will launch a nationwide program to train one million non-IT professionals in AI skills, enabling them to improve productivity and their livelihoods. He said Pakistan was fully ready to join the global AI community, adding that it would be a valuable partner in this field. The prime minister said he will implement programs to transform the country&rsquo;s youth from IT technicians into AI experts. Highlighting priority sectors, the prime minister said AI interventions would focus on agriculture, mines and minerals, industry, commerce, trade, and youth empowerment.&nbsp; With a population of around 240 million, nearly 60% of whom are young, he stressed the need to equip them with modern knowledge and skills.&nbsp; Minister for IT Shaza Fatima Khawaja said Indus AI Week aimed to strengthen coordination between universities, governments and international companies, underscoring Pakistan&rsquo;s full commitment to a digital revolution. She said the Pakistan Digital Authority was preparing a nationwide digital master plan to guide future transformation. Minister for Planning Ahsan Iqbal, in his remarks, said the world had entered a moment where intelligence itself had become a factor of production, with nations competing on ideas, talent, data and technology rather than commodities.&nbsp; He described artificial intelligence as a bigger disruptor than electricity or the internet, noting that Pakistan&rsquo;s engagement with technology began over two decades ago with early IT policies, the creation of NADRA, and large-scale investment in advanced human capital.

He said the investment would go a long way toward building indigenous AI infrastructure in the country.

Indus AI Week: Pakistan PM announces $1B AI investment by 2030

ISLAMABAD: Pakistan&#39;s disaster management authority sent another humanitarian aid shipment to the people of Palestine on Monday, according to a statement from the Press Information Department. At the special directive of Prime Minister Shehbaz Sharif, the 28th relief shipment, comprising 100 tons of tents, was dispatched by the National Disaster Management Authority (NDMA). &ldquo;The relief goods were dispatched via a special flight from Allama Iqbal International Airport, Lahore, to Al-Arish, Egypt, for further delivery to Gaza,&rdquo; the statement said. The total humanitarian aid sent to Palestine has now reached 2,727 tons. Since October 2023, Pakistan has sent several consignments of humanitarian aid to Gaza, aiming to ease the suffering of civilians, especially women and children affected by the conflict. &ldquo;Government of Pakistan and the people of Pakistan stand firmly with the people of Palestine in this difficult time and will continue to make every possible effort to support them and address their humanitarian needs,&rdquo; it added.

Middle East

The relief shipment, comprising 100 tons of tents, was dispatched by the National Disaster Management Authority.

Pakistan sends 28th humanitarian aid shipment for Gaza

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday hailed the collective leadership of the civilian government and the armed forces while paying glowing tribute to exporters, investors and traders, calling them Pakistan&rsquo;s &ldquo;heroes of the economy&rdquo; whose efforts have elevated the country&rsquo;s global standing.&nbsp;Addressing an award ceremony held to honor top exporters and contributors to the national economy, the prime minister said the business community was the &ldquo;crown of our heads&rdquo; and the driving force behind Pakistan&rsquo;s economic revival.&nbsp;&ldquo;I would like to say without any hesitation that all of you sitting in this hall, our contractors, investors, traders and exporters, are the crown of our heads. There is no doubt about it. And whatever we do for them is less,&rdquo; he said.&nbsp;Sharif assured the business community that their proposals for economic development would be implemented to the maximum extent possible, terming it his government&rsquo;s foremost responsibility.&nbsp;&ldquo;For the economic development of Pakistan, whatever your suggestions may be, acting on them to the limit is my and my team&rsquo;s primary duty. And we will not back down,&rdquo; he said, while urging the private sector to play its full role. &ldquo;It takes two to tango. You cannot clap with one hand.&rdquo;&nbsp;Expressing confidence in the capacity of Pakistani entrepreneurs, he said their vision, courage and ability could transform the national economy within a few years.&nbsp;&ldquo;You have so much courage, so much vision and capacity that you can transform the economy of Pakistan in a few years,&rdquo; the prime minister remarked.&nbsp;Highlighting Pakistan&rsquo;s improved international image, PM Sharif said the country&rsquo;s economic and diplomatic standing had visibly strengthened, attributing this progress to national unity and coordinated leadership.&nbsp;&ldquo;Today, your ambassadorship is at its peak,&rdquo; he said. &ldquo;Pakistan has made its place in the world, and future generations will remember this moment.&rdquo;&nbsp;Referring to his recent foreign engagements alongside Chief of Defense Forces and the Chief of the Army Staff Field Marshal Syed Asim Munir, the prime minister said Pakistanis were now being received abroad with renewed respect and warmth.&nbsp;&ldquo;I am a small Pakistani, but I am a proud Pakistani,&rdquo; he said. &ldquo;When you go abroad today and present your passport, people see with enthusiasm and love that a Pakistani has come.&rdquo;&nbsp;&ldquo;I myself went to foreign lands with the Field Marshal and my team,&rdquo; he added. &ldquo;Our eyes changed, our faces changed.&rdquo;&nbsp;The prime minister said the visible shift reflected Pakistan&rsquo;s growing confidence and recognition, made possible through the combined efforts of the civilian leadership, the armed forces and the country&rsquo;s economic stakeholders.&nbsp;At the ceremony, awards were presented to leading exporters and contributors to the national economy, celebrating their role in strengthening Pakistan&rsquo;s growth, resilience and global standing.

Foreign Affairs

Pakistan PM says business community drives national revival, credits leadership coordination for global recognition, pledges to implement proposals, urges private sector partnership to accelerate sustainable economic transformation.

PM Sharif lauds unity, exporters as Pakistan celebrates ‘heroes of economy’

ISLAMABAD: India&rsquo;s approval of the 260-megawatt Dulhasti Stage-II hydropower project on the Chenab River in the Kishtwar district of Indian Illegally Occupied Jammu and Kashmir marks a shift in South Asia&rsquo;s water politics and underscores growing strain on the Indus Waters Treaty, according to a report published by The National Interest on Friday. The report, titled &ldquo;India&rsquo;s Indus Gamble: How Water Is Becoming a Strategic Weapon in South Asia,&rdquo; authored by Saima Afzal, says the project goes beyond routine infrastructure expansion and reflects &ldquo;a deeper transformation in South Asia&rsquo;s water politics&rdquo; following India&rsquo;s April 2025 decision to place the treaty in abeyance. India&#39;s&nbsp;<a href="https://www.pakistantv.com/article/india-approves-hydropower-project-on-chenab-in-violation-of-indus-waters-treaty" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Dulhasti Stage-II project</a>, approved at an estimated cost of $395 million, will be developed by Indian public-sector company NHPC Limited and will use existing infrastructure from the 390-megawatt Dulhasti Stage-I plant commissioned in 2007, the report stated.&nbsp; Indian officials have maintained that the project qualifies as a run-of-the-river scheme permissible under the treaty, the journal reported. However, the report argues that treaty compliance &ldquo;cannot be evaluated in isolation from cumulative hydrological impact, strategic intent, or the concurrent erosion of dispute-resolution mechanisms that have governed Indus waters for more than six decades.&rdquo; Signed in 1960 under World Bank mediation, the Indus Waters Treaty allocated control of the Ravi, Beas and Sutlej rivers to India, while granting Pakistan rights over the Indus, Jhelum and Chenab rivers, with limited non-consumptive use allowed to India under strict conditions. The report notes that the treaty contains no provision for unilateral suspension or termination. Despite this, the report says India halted hydrological data sharing after the April 2025 Pahalgam incident, questioned dispute-resolution mechanisms and accelerated several long-contested projects, including Ratle, Pakal Dul, Bursar, Sawalkot, Kiru, Kwar and Kirthai-I and II. &quot;Let flow&quot; In August, the Permanent Court of Arbitration reaffirmed that India is obligated to &ldquo;let flow&rdquo; the waters of the western rivers for Pakistan&rsquo;s unrestricted use, confirming that treaty obligations remain&nbsp;<a href="https://www.pakistantv.com/article/treat-to-remain-fully-enforced-until-modified-terminated-by-both-parties-pakistans-iwt-commissioner" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">legally binding</a>, the report said. The Chenab River is described as &ldquo;a major contributor to Pakistan&rsquo;s agricultural and economic stability,&rdquo; supporting irrigation for wheat, rice and sugarcane. The report notes that more than 80 percent of Pakistan&rsquo;s agriculture depends on the Indus Basin and that even limited disruptions in water timing or volume can have significant economic and humanitarian effects. Altering river morphology&nbsp; According to the report, Dulhasti Stage-II will draw additional water from the Marusudar River through the Pakal Dul project.&nbsp; The report highlights how the &ldquo;Indian environmental clearance documents themselves acknowledge that this reconfiguration will alter river morphology and ecology,&rdquo; affecting a 25-kilometer stretch downstream. &ldquo;Effectively weaponized water&rdquo; Citing a US-based Eurasia Group assessment of global risks for 2026, the report states that India has &ldquo;effectively weaponized water&rdquo; by suspending treaty obligations and withholding hydrological data, warning that such actions threaten agriculture, food security and rural livelihoods in Pakistan. &ldquo;Dulhasti Stage-II is therefore more than a hydropower project,&rdquo; the report said. &ldquo;It is a test case for whether the Indus Waters Treaty remains a living framework or becomes an eroded relic.&rdquo;

File Photo - Indus river from karakouram highway (WikiMedia Commons)

India

India’s Dulhasti Stage-II hydropower project marks a shift in South Asia’s water politics; it underscores the growing strain on the Indus Waters Treaty.

India’s new hydropower project strains Indus Waters Treaty: Report

LAHORE: Gold has climbed to levels few imagined possible, quietly reshaping behavior across Pakistan&rsquo;s jewelry markets. On Wednesday, spot gold surged to a record $4,641.40 an ounce, driven by worsening geopolitical tensions, economic uncertainty, and expectations that the US Federal Reserve will cut interest rates. Gold, which does not offer interest income, historically performs best when rates are low and uncertainty is high, making it a natural refuge for nervous investors. That logic is now playing out in Pakistan as well.&nbsp; In the local market, gold recently touched Rs 481,000 per tola (11.66 g) before easing slightly on Thursday as global prices pulled back. International prices fell by $37 an ounce to $4,601, ending a three-day rally. Locally, 24-carat gold dropped by Rs 3,700 per tola to Rs 482,462, and by Rs 3,172 per 10 grams to Rs 413,633. Even after the correction, prices remain near historic highs, and that, jewellers say, has fundamentally altered who buys gold, how they buy it, and why. The role of goldFor decades, gold in Pakistan has served two roles: cultural and financial. It is both a wedding essential and a store of value. But today, those two functions are diverging. Faizan Hanif, Director of Hanif Jewellers, told Pakistan TV Digital that gold demand has increased significantly because it acts as a safe haven.&nbsp; &quot;People are buying more gold rather than selling, using it as a hedge against inflation shocks and as a superior asset for better returns compared to other options in the country.&quot; Dahim Sheikh, co-owner of Sonica Jewellers, explains that demand has not disappeared but has shrunk.&nbsp; &ldquo;Gold has surged by about Rs 100,000 in a year, but it has not stopped wedding customers. If there were 10 customers before, there are still 10 now. What has changed is weight. Those who used to buy 10 tolas now buy eight. Volume is the same, but weight is lower.&rdquo; In other words, people are still coming, but they are buying less gold per visit. Cultural obligations like weddings still require jewelry, but rising prices force families to compromise on quantity. Sheikh says bullion demand has jumped.&nbsp; &ldquo;People who already had bullion are now converting it into jewelry, and new buyers are entering bullion trading. Gold is now seen more as an asset than an ornament.&rdquo; Buy gold or artificial jewelry?But for many households, even reduced purchases are becoming unaffordable. Amir Iqbal, owner of New Iqbal Jewellers at Lahore&rsquo;s Liberty Market, describes a very different trend unfolding at the retail level. &ldquo;Customers now mostly bring in old jewelry passed down by grandmothers to get it repaired, polished, or slightly redesigned. Earlier, people used to save and buy two, three, or five tolas. Now, many cannot even afford one.&rdquo; He noted that people are now buying artificial jewelry or resorting to silver to make jewelry. Instead of buying new sets, families are recycling old ones, refreshing inherited jewelry rather than adding new weight. The effect, Iqbal says, is visible across the trade.&nbsp; &ldquo;Jewellers who used to make three-tola sets now make one-tola sets. The impact is definitely there. Traditional demand is slowing.&rdquo; What is emerging, then, is a divided gold market. On one side is investment demand, rising with every bout of geopolitical tension, currency uncertainty, or interest rate speculation. For this group, gold is not fashion or tradition; it is insurance. On the other side is consumption demand, increasingly constrained by affordability. Weddings still happen, traditions still hold, but households are adapting by buying less, reusing more, and delaying purchases where possible. The result is a paradox: record prices alongside shrinking accessibility. Gold is shining, but not for everyone.

For decades, gold in Pakistan has served two roles: cultural and financial. It is both a wedding essential and a store of value. But today, those two functions are diverging.

Articles tagged with "pakistan"