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KH ASIF OPTIMISTIC ON US-IRAN DEAL, SAYS PEACE WILL SECURE PAKISTAN'S BORDERS Saturday, 9 May, 2026 | 12 Dhul-Qadah, 1447
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ISLAMABAD
AsAD nizAMi
EFENCE Minister Khwaja Asif on Friday expressed optimism over a possible agreement between the United States and Iran, saying Pakistan would emerge as one of the biggest beneficiaries of any peace settlement, particularly through enhanced border security and regional stability. His remarks came amid renewed tensions in the Gulf following recent clashes between US and Iranian forces and attacks on the United Arab Emirates, developments that have threatened a month-old ceasefire and raised fresh concerns over the prospects for diplomacy. Hope for a breakthrough resurfaced after Washington reportedly conveyed a proposal to Tehran through Pakistani mediation, with the US expecting Iran’s response on Friday. US Secretary of State Marco Rubio said the development could pave the way for serious negotiations. Speaking on a private television programme, Asif said Pakistan was now far more confident on the security front compared to a year ago, crediting the country’s
armed forces for strengthening national stability. “About a year ago, there was uncertainty on multiple fronts, including security, but today we are much more confident because of our armed forces,” he said. Highlighting Pakistan’s mediation efforts between Tehran and Washington, the minister said Islamabad shared deep historical, geographical and religious ties with Iran and had managed those relations with balance and responsibility. He said Pakistan had diplomatically played a role in convincing the United States to support efforts aimed at restoring peace in the region. “We will also be among the major beneficiaries of this peace,” he added. Asif said that if sanctions on Iran were lifted following an agreement, Pakistan could directly import commodities such as gas and oil through land routes instead of relying on distant international markets. “The biggest benefit would be a secure border with Iran, from where terrorism has occasionally infiltrated into our territory,” he said, while noting that Pakistan’s border with Afghanistan remained a security concern and discussions on the issue were also continuing with China.
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Pakistan seeks Singapore help for repatriation of stranded seafarers ISLAMABAD
stAff report
Pakistan has sought Singapore’s assistance for the repatriation of over 30 Pakistani and Iranian nationals who were aboard vessels seized by the United States (US), Deputy Prime Minister and Foreign Minister Ishaq Dar said on Friday. In a post on X, FM Dar said he held a telephone conversation with Singapore’s Foreign Minister Vivian Balakrishnan regarding 11 Pakistani and 20 Iranian seafarers aboard vessels reportedly seized by US authorities and currently located near Singaporean waters. “I requested Singapore’s support in facilitating the welfare and repatriation of 11 Pakistani and 20 Iranian seafarers,” he said. The US authorities have seized multiple vessels in recent weeks after
the US Navy imposed a blockade of Iranian ports in response to Tehran’s control over the Strait of Hormuz, following the breakdown of initial talks aimed at ending a more than twomonth-long conflict. FM Dar said Pakistan appreciated Singapore’s cooperation and support in the matter. “Pakistan, through its Foreign Office and relevant authorities, is closely coordinating with US authorities and others to ensure the safety, welfare, and earliest possible return of our nationals,” he added. He further said he had also spoken with Iranian Foreign Minister Abbas Araghchi, adding that both sides were maintaining close coordination on the issue. “Pakistan also stands ready to facilitate the safe repatriation of Iranian nationals to Iran via Pakistan,” he stated.
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IMF board clears $1.2b for Pakistan after fresh reform assurances PROFIT
Monitoring Desk
The Executive Board of the International Monetary Fund (IMF) on Friday approved the release of $1.2 billion to Pakistan after the government committed to additional reform measures and assured the Fund it would maintain previously agreed fiscal and monetary targets despite regional and domestic economic pressures. The approval includes $1 billion under the Extended Fund Facility (EFF) for balance of payments support and $200 million under the Resilience and Sustainability Facility (RSF) intended for budgetary support, according to government officials. The fresh disbursement, expected early next week, will raise the State Bank of Pakistan’s foreign ex-
change reserves above $17 billion. With the latest tranche, Pakistan has so far received $4.5 billion under two IMF financing arrangements totaling $8.4 billion, while access remains available to additional funding under both programmes. Officials said Pakistan assured the IMF it would stay committed to the stabilization path agreed before the Middle East conflict and continue pursuing strict fiscal and monetary policies despite criticism over rising unemployment, poverty and income inequality. Under the commitments, the government agreed to achieve a Rs3.4 trillion primary budget surplus target for the current fiscal year and a Rs2.84 trillion surplus target, equivalent to 2 per cent of GDP, for fiscal year 2026-27. The authorities also committed to preparing the
upcoming federal budget in consultation with the IMF to ensure compliance with programme targets and maintain a fiscally restrictive policy stance. As part of the latest review, Pakistan accepted nearly a dozen additional conditions tied to governance, taxation, energy pricing and investment policies. These include amendments to laws governing Special Economic Zones and Special Technology Zones to gradually phase out existing tax incentives and shift toward cost-based incentives by June 2027. The government also committed to withdrawing powers of various approval authorities to grant tax incentives and to prohibit Export Processing Zones from selling goods in the domestic market from September this year.
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Petrol, diesel prices jump by Rs15/litre ISLAMABAD
AhMAD AhMADAni
The federal government on Friday sharply increased petroleum prices by nearly Rs15 per litre for the next week, a move expected to intensify inflationary pressures on transport, food and essential commodities already burdening consumers across Pakistan. According to a notification issued by the Petroleum Division, the price of petrol (Motor Spirit) was raised by Rs14.92 per litre to Rs414.78 per litre from Rs399.86, while High Speed Diesel (HSD) was increased by Rs15 per litre to Rs414.58 per litre from Rs399.58. The revised ex-depot prices will come into effect from May 9, 2026. The increase comes at a time when consumers are already struggling with elevated electricity tariffs, rising transport fares and expensive food items, with market analysts warning that the latest hike could trigger another wave of inflation across the country. Petrol is primarily used in motorcycles, cars and rickshaws, making it directly linked to the daily expenses of middle and lower-middle income households. Diesel, on the other hand, is widely consumed in heavy transport, agriculture and goods movement, meaning any increase in HSD prices typically pushes up the cost of vegetables, wheat, construction material and other essential commodities. Transporters and logistics operators are also expected to revise freight charges upward following the increase, which could further add pressure on already high retail prices. The latest revision follows continued volatility in international oil markets amid geopolitical tensions and concerns over global fuel supply disruptions. Market observers believe the government had little fiscal space to absorb the rising import cost of petroleum products.