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ARY NEWS

Anjum Wahab

  • Pakistan bans Indian ships from entering its ports

    Pakistan bans Indian ships from entering its ports

    Pakistan has banned entry of Indian flag carriers from entering its ports following rising tensions after Pahalgam incident, ARY News reported.

    As per details, the Ministry of Maritime Affairs has formally imposed a ban on Indian-flagged cargo vessels from entering Pakistani ports. Official notification is also issued.

    In addition, the ministry has directed that no Pakistani-flagged ships will be allowed to dock at Indian ports, citing the current escalation in Pakistan-India tensions as the reason behind the decision.

    It is pertinent to mention here that tensions have escalated between Pakistan and India after the latter’s baseless allegations against Pakistan following the Pahalgam attack in Indian Illegally Occupied Jammu and Kashmir (IIOJK), which killed 26 persons, the majority of whom were tourists.

    Read more: Pakistan airspace closure costs Indian Airlines Rs2bn loss in few days

    Without providing any proof, India accused Pakistan of the attack shortly after it happened.

    India’s foreign ministry had announced to hold the Indus Waters Treaty of 1960 in abeyance and close the Attari and Wagah borders. Pakistani nationals will no longer be able to travel to India under the SAARC visa exemption.

    The Indian foreign ministry also announced to India recall all its defense attachés from Islamabad.

    In a befitting response, Pakistan rejected the Indian announcement to hold the Indus Waters Treaty in abeyance and closed its airspace to Indian flights.

    “Any attempt to stop or divert the flow of water belonging to Pakistan as per the Indus Waters Treaty, and the usurpation of the rights of lower riparian will be considered as an Act of War and responded with full force across the complete spectrum of National Power”. it added.

  • Pakistan’s inflation rate drops to record low in April 2025

    Pakistan’s inflation rate drops to record low in April 2025

    ISLAMABAD: In a potential development for the national economy, Pakistan’s inflation rate reached a record of 0.30% in April 2025, showing a noteworthy slowdown as compared with 0.70% in March, ARY News reported.

    As per the Pakistan Bureau of Statistics’ latest report, inflation has progressively gone towards declined over the past year, providing relief to businesses and consumers at the same time.

    Inflation Trends Over the Past Year

    The economic data has mentioned a considerable decline in inflation over the current fiscal year:

    • 10-month average inflation rate: 4.73% (compared to 25.97% in the previous fiscal year)
    • Year-over-year inflation drop: 21.24 percentage points

    Experts point to this decline in Pakistan’s inflation rate due to effective government policies, stable commodity prices, and controlled fiscal measures aimed at reducing economic strain.

    Impact on Monetary Policy & Economic Outlook

    As Pakistan’s inflation rate is at its lowest level in history, economists forecast a conceivable reduction in interest rates in future monetary policy decisions.

    The decreasing inflation could lead to favourable lending conditions, benefiting businesses and consumers alike.

    While the economic improvement signals stability, analysts caution that sustaining low inflation will require continued fiscal discipline and proactive policy measures.

    Read More: Inflation drops to 60-year low in Pakistan, says FinMin at Harvard University

    Earlier, the Federal Minister for Finance and Revenue, Senator Mohammad Aurangzeb, spoke at the Pakistan Conference 2025 at Harvard University and highlighted the opportunities in Pakistan’s rich mineral resources.

    “After inheriting an economy that faced significant challenges—from contracting GDP to depleting reserves—we stabilized the fundamentals, restored confidence, and reignited growth,” he stated at the conference entitled “Bridging Divides, Building Tomorrow: Pakistan’s Path to Inclusive Growth and Governance.”

    The Pakistan Conference was an annual flagship event that brought together policymakers, academics, business leaders, and students to discuss Pakistan’s economic, political, and social trajectory, according to a press release issued by the finance ministry that day.

  • ABAD welcomes scraping of FED on property sale, purchase

    ABAD welcomes scraping of FED on property sale, purchase

    The federal government has decided to abolish the Federal Excise Duty (FED) on property sale and purchase — a move widely welcomed by the construction sector.

    Chairman of the Association of Builders and Developers of Pakistan (ABAD), Hasan Bakshi, expressed gratitude to the government for removing the FED, calling it a positive step for the country’s construction industry.

    He urged further relief, calling for reductions in taxes under Sections 236C and 236K of the Income Tax Ordinance, 2001, and proposed easing tax measures imposed under Section 7E on real estate.

    Bakshi said that eliminating FED on property sales would invigorate the construction sector and help generate employment.

    He further highlighted the need for effective policies to support and sustain the country’s construction-driven economic growth.

    Read more: Pakistan ‘links’ tax relief for salaried class with IMF’s consent

    Commenting on broader economic matters, ABAD Chairman Hasan Bakshi said the recommendations of the task force for economic stability were crucial.

    He stressed that consistent investment will only be possible if Pakistan remains competitive in the regional economic race.

    Earlier, Pakistan ‘linked’ tax relief for the salaried class with the consent of the International Monetary Fund (IMF) in the upcoming FY2025-26 budget.

    As per details, as preparations for the upcoming federal budget are underway, high-level discussions are taking place to explore avenues of tax relief, particularly for the salaried class and real estate sector.

  • Goods transporters halt operations at Karachi ports amid crackdown

    Goods transporters halt operations at Karachi ports amid crackdown

    KARACHI: Heavy goods transporters have suspended the lifting of cargo from Karachi’s ports and industrial areas in protest against the ongoing crackdown on their vehicles, ARY News reported.

    According to reports, a large number of import containers have started piling up at major port terminals in Karachi.

    According to Nadeem Arain, Secretary of the Karachi Goods Carrier Association, all operations at key terminals including KICT, SAPT, and KGTL have come to a complete halt today.

    “Daily, around 7,000 heavy vehicles move in and out of these terminals, and another 3,000 from Port Qasim. All such activity is now on hold,” he said.

    Transporters have parked their vehicles at warehouses and truck stands across Karachi, disrupting the entire supply chain of imported goods.

    Nadeem Arain further stated that the transporters are not against the government’s safety regulations but require reasonable time to comply. “We need time for the fitness process of thousands of vehicles,” he emphasised.

    Read More: Karachi accidents: Front, back cameras declared mandatory for dumpers

    Imdad Naqvi, President of the Car Carrier Association, explained that installing mandatory trackers, cameras, and safety grills on each vehicle would cost between PKR 200,000 to 300,000.

    “We are willing to follow all directives issued by the Sindh government but request a three-month grace period,” he said.

    He urged the authorities to sit with the transporter community and set a clear time frame for implementation of these safety requirements.

    “So far, nearly 300 vehicles have been seized by the police in the name of fitness,” Naqvi added.

    The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has also voiced concern.

    Vice President Amaan Paracha demanded the Sindh government take urgent action to resolve the issue.

    “The government must address the transporters’ legitimate concerns and provide them with time to ensure vehicle fitness,” he stated.

    Paracha further warned that the ongoing strike has impacted cargo movement not only from Karachi’s ports but also from factories across the region.

  • Karachi markets to remain closed today in solidarity with Gaza

    Karachi markets to remain closed today in solidarity with Gaza

    Karachi markets will remain closed today in protest to express solidarity with the people of Gaza, ARY News reported on Monday.

    According to trade leaders, the city’s major markets including, Sarafa Bazaar, Medicine market, Jodia Bazaar and other wholesale markets, will remain closed today.

    President of the Karachi Electronic Dealers Association, Rizwan Irfan, urged all traders to close their businesses as a show of support. Karachi Tajir Ittehad leader Jamil Paracha also affirmed that Karachi’s business community stands with the people of Gaza.

    Trader leader Shakir Fancy stated that markets in Mithadar, Old City Area, and the Sarafa Bazaar will remain closed today.

    He added that wholesale markets will also observe closure in protest against Israel’s brutal aggression and atrocities in Gaza.

    Abdul Rauf Ibrahim announced that the country’s largest wholesale market, Jodia Bazaar, will remain closed for the day.

    Read more: JI announces nationwide protest against Israel’s aggression

    The Aram Bagh Traders Association has also declared full support for the strike called by Karachi’s traders.

    Furthermore, Aslam Polani, General Secretary of Jodia Bazaar, confirmed that all medicine markets in the area will also stay closed.

    Earlier, Israel’s nonstop bombing in Gaza created more destruction and caused more casualties. The recent force of the blasts threw people high into the sky above destroyed buildings amid intense Israeli bombing in Gaza.

    The footage, shared by local journalists, shows bodies of humans hurled high above buildings amidst plumes of smoke and dust from multiple Israeli strikes.

  • FBR seals luxury watch outlets in Karachi for tax evasion

    FBR seals luxury watch outlets in Karachi for tax evasion

    The Federal Board of Revenue (FBR) sealed three luxury watch outlets in Karachi for tax evasion, ARY News reported on Wednesday.

    As per details, the Large Tax Office (LTO) of the Federal Board of Revenue (FBR) has launched an operation against tax evasion and sealed three outlets selling luxury watches for non-compliance with the Point of Sale (POS) system.

    According to FBR sources, the LTO team has seized business records from these outlets. The tax filers declared a stock worth Rs40 million, whereas records indicate sales of luxury watches worth Rs700 million.

    With a 25% sales tax applicable on luxury watches, the estimated tax liability amounts to Rs180 million.

    The FBR emphasized that strict action would be taken against businesses evading taxes.

    Read more: FBR unearths Rs86 million tax evasion scam in Karachi

    Last year, the Post Clearance Audit team (PCA-North) of the Federal Board of Revenue (FBR) exposed a massive tax evasion scam in the port city.

    The investigation revealed that the goods worth Rs3.7 billion were illicitly sold under the pretext of tax exemption for the Federally Administered Tribal Areas (FATA), and Provincially Administered Tribal Areas (PATA).

    Notably, duty-free imported goods were illegally distributed beyond the designated boundaries of FATA and PATA, violating customs regulations.

    The customs officials stated that the duty-free imported goods could be sold only within the limits of FATA, and PATA regions.

  • Pakistan Railways announces schedule of special Eid trains

    Pakistan Railways announces schedule of special Eid trains

    ISLAMABAD: Pakistan Railways has announced schedule for special Eid trains, aiming to facilitate travelers during the season, ARY News reported.

    According to the official notification issued here, a total of five special trains will operate on various routes across the country.

    Eid Special Train Schedule:

    • First Eid Special Train: Karachi to Lahore, departing on March 26
    • Second Eid Special Train: Quetta to Peshawar, departing on March 26 at 10:00 AM
    • Third Eid Special Train: Karachi to Rawalpindi, departing on March 27 at 8:00 AM
    • Fourth Eid Special Train: Karachi to Lahore, departing on March 27 at 8:30 AM
    • Fifth Eid Special Train: Karachi to Lahore, departing on March 29

    The special Eid trains will comprise economy class, AC Business, and AC Standard bogies, catering to diverse traveler needs.

    Read more: Ruet-e-Hilal Committee to meet for Shawwal moon sighting on March 30

    Earlier, the federal government announced holidays on the occasion of Eidul Fitr 2025.

    According to a notification issued by Cabinet Division, Eidul Fitr 2025 holidays will be observed from Monday (March 31) to April 2.

    Eidul Fitr 2025 is expected to be observed across Pakistan on Monday, March 31, 2025, following the completion of 29 days of Ramadan.

    According to the Ruet-e-Hilal Research Council, the Shawwal crescent is likely to be visible on the evening of Sunday, March 30, provided weather conditions remain clear.

  • Jaffar Express attack: Pakistan Railways establishes help desk

    Jaffar Express attack: Pakistan Railways establishes help desk

    Pakistan Railways has established a help desk at Rawalpindi Railway Station to provide information about the victims of the Jaffar Express attack, ARY News reported on Wednesday.

    A group of terrorists launched the attack on the Peshawar-Quetta Jaffar Express, leaving the driver with severe injuries in the Bolan Pass area of Balochistan, targeting innocent civilians. The militants detonated a bomb on the railway trackt and then took over around 400 passengers including women and children hostage.

    According to Pakistan Railways’ spokesperson, families can get all necessary details from the desk, which is in direct contact with Quetta and Peshawar stations.

    Additionally, an emergency cell has been set up at Quetta Railway Station Inquiry Office for assistance.

    Passengers and their families can get information by calling 0819201210, 0819201211, or 117.

    Meanwhile, train operations from Quetta have been temporarily suspended which will resume after security clearance.

    Read more: Survivors recall horrific Jaffar Express attack

    Security forces have successfully rescued 155 hostages from terrorist captivity, including men, women, and children. The freed passengers of the Jaffar Express were escorted to Quetta under stringent security measures, where anxious family members awaited their arrival at the station.

    According to security officials, the terrorists have suffered heavy losses in this operation and split into small groups.

    Some inured passengers have been shifted to the nearby hospital while additional security squads are taking part in the operation in the area.

  • Gold prices record major drop in Pakistan

    Gold prices record major drop in Pakistan

    The rate of 24-karat per tola gold decreased by Rs3,000 and was sold at Rs304,000 on Thursday against its sale at Rs307,000 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.

    The price of 10 grams of 24 karat gold also decreased by Rs2,571 to Rs260,630 from Rs263,203 whereas that of 10 gram 22 karat went down by Rs2,359 to Rs238,919 from Rs241,278.

    The prices of per tola and ten gram silver remained constant at Rs3,369 and Rs2,888 respectively.

    The price of gold in the international market decreased by $28 to $2,893 from $2,921 whereas the prices of silver in international market remained constant at $32.32, the Association reported.

    Meanwhile, the 24-karat gold rates in Saudi Arabia surged and stood at 4,107 Saudi Riyal (SAR) per tola on March 6, 2025.

    According to details from Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is being sold at SAR 3,525. Additionally, the price for an ounce of gold is SAR 10,964.

    Read more: Gold rates in Saudi Arabia – 6 March, 2025

    Gold, a highly valued precious metal, has maintained its significance for centuries and plays a vital role in the global economy.

    Its value stems from its scarcity, durability, and widespread appeal. Frequently regarded as a safe-haven asset, gold is employed to preserve wealth during times of economic instability.

    Central banks and investors maintain gold reserves to diversify their investment portfolios and protect against inflation and currency value fluctuations.

    The price of gold depends on a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make gold rates escalate due to its safe-haven status.

  • Pakistan Railways restore This train between Karachi-Lahore

    Pakistan Railways restore This train between Karachi-Lahore

    LAHORE: Pakistan Railways announced the restoration of the Shah Hussain Express between Karachi-Lahore, providing significant relief to passengers travelling between the two cities.

    Railway authorities have decided to restore Shah Hussain Express effective from February 25, 2025. The train will depart from Karachi Cantonment Station at 7:30 pm and arrive in Lahore at 2:15 pm passing through major cities like Hyderabad, Rohri, Bahawalpur, Lodhran, Khanewal and Faisalabad.

    The return journey from Lahore will commence at 7:00 pm, to reach Karachi at 2:05 pm.

    The train will consist of 10 economy class coaches, 2 AC business class coaches, 2 AC standard class coaches, 1 power plant, and a brake van.

    Meanwhile, Pakistan Railways will operate two special trains to facilitate the disciples of Hazrat Lal Shahbaz Qalandar on his annual Urs at Sehwan Sharif.

    The first special train will leave Faisalabad station at 10:00 pm on February 14, Friday to reach Sehwan Sharif on Saturday at 2:15 pm through Shurkot, Lodhran, Rohri, Dadu.

    The second train will leave Lahore station at 3:00 pm on February 15, Saturday to reach Sehwan Sharif on Sunday at 9:00 am.

    While, on return, the Faisalabad bound train will leave Sehwan at 4:00 pm on February 20 to reach the next day at 9:00 am and Lahore bound train will leave at 5:00 pm to reach the next day at 11:30 am.

    Read More: Pakistan Railways to outsource seven more trains to private sector

    Earlier, the Pakistan Railways has decided to outsource seven more passenger trains to the private sector, citing sources ARY News reported on Sunday.

    The bids for train auction will be received up to February 25, according to sources.

    The railways have decided to handover seven trains, Hazara Express, Karachi Express, Farid Express, Bahauddin Zakaria Express, Sukkur Express, Rawalpindi Express and Mohenjo Daro Express to the private sector, sources said.

    The railways authorities have clarified that these trains will not be privatized but outsourced to the private sector. “The outsourcing will help in improving facilities for passengers and better revenue generation,” officials said.