DG NAB Lahore hears public complaints at monthly open court

  ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar held a telephone conversation with Turkish Foreign Minister Hakan Fidan on Sunday night, during which the two sides discussed recent developments in the region and reaffirmed their commitment to strengthening cooperation on issues of mutual interest. According to Pakistan’s Ministry of Foreign Affairs, the two foreign ministers agreed that dialogue and diplomacy remained the most effective means of addressing regional challenges and promoting peace and stability. The conversation took place as Pakistan continues its diplomatic engagement with regional and international partners amid the ongoing conflict involving the United States, Israel and Iran. Islamabad has increasingly emerged as an important diplomatic channel in efforts aimed at reducing tensions and encouraging negotiations between the parties. Dar has recently held discussions with several senior diplomats regarding the rapidly changing regional situation. Last week, he met US Chargé d’Affaires Natalie Baker, British High Commissioner to Pakistan Jane Marriott, Chinese Ambassador Jiang Zaidong and Pakistan’s Ambassador-designate to Sweden Ahmed Amjad Ali. During these meetings, the foreign minister exchanged views with the diplomats on regional developments and Pakistan’s efforts to contribute to peace and stability. Dar emphasized that the Islamabad Memorandum of Understanding must be implemented in both letter and spirit, describing this as the most appropriate way forward. He also reiterated Pakistan’s commitment to regional peace, security and diplomatic engagement. Dar recently held a joint press conference with Norwegian Foreign Minister Espen Barth Eide, who praised Pakistan’s role during the US-Iran conflict. Eide particularly acknowledged the efforts of Prime Minister Shehbaz Sharif, Ishaq Dar and Chief of Defence Forces Field Marshal Asim Munir during delegation-level discussions held in Islamabad. The Norwegian foreign minister said Pakistan had taken on a significant responsibility by offering Islamabad not only as a venue for negotiations but also as a facilitator between Washington and Tehran. Eide described Pakistan’s diplomatic efforts as a service to the international community and expressed strong support for the role Islamabad had assumed since the conflict began on February 28. The latest diplomatic contacts also come against the backdrop of a major regional security development: the signing of the Makkah Joint Defence Agreement by Pakistan, Saudi Arabia and Turkiye on August 7. The trilateral agreement has been described as a defensive security framework designed to strengthen collective deterrence, expand military cooperation and contribute to regional stability. The agreement has attracted considerable attention because of the growing security challenges in the region and the evolving strategic relationships among Pakistan, Saudi Arabia and Turkiye. The Makkah agreement follows the Strategic Mutual Defence Agreement signed between Pakistan and Saudi Arabia last year. That pact established a stronger bilateral security relationship and stated that aggression against either country would be regarded as aggression against both. The latest developments indicate that Pakistan is seeking to strengthen diplomatic and security partnerships while maintaining its stated preference for dialogue and peaceful resolution of regional disputes. Dar’s conversation with Fidan further reflects the close relationship between Islamabad and Ankara, particularly on regional security and diplomatic matters. Both countries have consistently emphasized the importance of cooperation, consultation and peaceful negotiations in addressing regional crises. Their latest discussion is expected to contribute to continued coordination as tensions across the region remain high.

The State Bank of Pakistan (SBP) has decided to keep its benchmark policy interest rate unchanged at 11.50% following the latest meeting of its Monetary Policy Committee (MPC). The decision reflects the central bank’s cautious approach as it continues to monitor inflation, economic growth, and global developments that could influence Pakistan’s financial outlook. The policy rate has remained at 11.50% since April 27, with policymakers choosing to maintain the current stance despite recent inflationary pressures. During the meeting, the committee reviewed key economic indicators, inflation trends, and the potential impact of geopolitical tensions in the Middle East on Pakistan’s economy. Speaking at a press conference, SBP Governor Jameel Ahmad said inflation had eased significantly during the first half of the fiscal year. Average inflation between July and February stood at 5.5%, remaining within the lower end of the central bank’s target range. However, rising global oil prices, higher food costs, and increased shipping expenses triggered by tensions in the Middle East placed renewed pressure on prices in the following months. According to the central bank, inflation rose to 11.7% in May before easing slightly to 11.1% in June. The governor expressed optimism that inflation would begin to decline again from July, with a more noticeable improvement expected after September. For the current fiscal year, the SBP projects average inflation to remain close to 7%. The governor also highlighted improvements in Pakistan’s broader economic indicators. He noted that the country’s current account deficit narrowed significantly during the previous fiscal year to $139 million, while the current fiscal year’s deficit is expected to remain between zero and one percent of GDP. Strong remittance inflows have played a major role in supporting the external sector, with overseas Pakistanis expected to send around $44 billion this fiscal year, up from $41.6 billion in the previous year. The SBP also expects exports to improve gradually with government support, stronger performance from the information technology sector, and growth in food exports. While imports have increased, improved external financing has helped meet the country’s payment needs without creating excessive pressure on foreign exchange reserves. Pakistan’s foreign exchange reserves are projected to remain around $20.2 billion by the end of the year, while the country is expected to meet its external debt obligations through a combination of repayments, refinancing arrangements, and continued financial inflows. The central bank reaffirmed that it will continue to monitor domestic and international economic developments before making any future changes to monetary policy.