state bank pakistan
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State Bank of Pakistan keeps interest rate unchang…

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.

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    Suri Cruise has reportedly taken a significant personal step by legally changing her last name, marking a new chapter as she continues building her own identity. According to newly surfaced public records, the 20-year-old daughter of actors Tom Cruise and Katie Holmes is now legally known as Suri Noelle, replacing the famous Cruise surname with her mother Katie Holmes’ middle name.  The legal name change came to light after voter registration records in Allegheny County, Pennsylvania, showed Suri registered under the name Suri Noelle while attending Carnegie Mellon University. Under Pennsylvania law, voters must register using their legal name, confirming that the change had already been completed. Reports suggest the legal process likely took place in New York before she left for college, as no filing appears in Pennsylvania records.  Although the update has only recently attracted widespread attention, Suri has been using the name “Noelle” publicly for some time. She was listed as Suri Noelle in the program for her LaGuardia High School graduation in June 2024 and has continued using the name in college theater productions. The choice is widely viewed as a tribute to her mother, whose full name is Kate Noelle Holmes.  The name change has also renewed public interest in Suri’s relationship with her father. Tom Cruise and Katie Holmes divorced in 2012, and Holmes has largely raised Suri out of the public spotlight ever since. Over the years, multiple reports have indicated that Suri and her father have remained estranged, although neither has publicly discussed the nature of their relationship.  Now entering adulthood, Suri appears focused on carving out her own path. She is currently studying musical theater at Carnegie Mellon University and has participated in several stage productions while maintaining a relatively private life. Friends and supporters say she has chosen to concentrate on her education and creative ambitions rather than the intense media attention that has followed her since birth.  Katie Holmes has often spoken proudly about her daughter, describing this period as an exciting time of growth and self-discovery. While Holmes has generally avoided discussing Suri’s personal decisions, she has consistently supported her daughter’s independence and privacy.  Neither Tom Cruise nor Katie Holmes has publicly commented on the legal name change. Still, the decision marks an important milestone for Suri as she steps further into adulthood. By choosing the name Suri Noelle, she appears to be embracing an identity that reflects her own journey while honoring the close bond she shares with her mother. 

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    Fahad Mustafa’s second wife spotted on film set?

    Pakistani actor and television host Fahad Mustafa has once again attracted attention on social media after sharing new pictures from the sets of his upcoming film Aag Lagay Basti Mein. The actor, who is also a successful producer and the founder of Big Bang Productions, has remained one of the most prominent figures in Pakistan’s entertainment industry. His latest social media post has generated renewed discussion because a woman previously linked to reports about his alleged second marriage was also spotted at the film’s sets. Fahad had previously faced speculation regarding an alleged second marriage with Hina Aman. The reports gained significant attention online after photographs of the two surfaced on social media. However, Fahad Mustafa did not publicly confirm or deny the reports at the time. Hina Aman also did not issue a public statement regarding the claims. The matter therefore remained unconfirmed. Now, nearly a year after the earlier speculation, Fahad has shared photographs from the sets of Aag Lagay Basti Mein. Hina Aman was reportedly seen at the location alongside the actor, prompting social media users to revisit the previous marriage rumours. The new pictures quickly attracted attention from fans and entertainment followers. Many users began discussing the woman’s presence at the film’s sets and its connection with the earlier reports surrounding Fahad’s personal life. Another detail that caught the attention of social media users was that comments on Fahad Mustafa’s latest post had been disabled. This further fuelled online discussion, although there has been no official statement from the actor explaining the decision. The photographs themselves do not confirm any marriage or relationship. Fahad Mustafa has not made a public announcement regarding the allegations, and the renewed speculation remains based on social media discussions and the reported appearance of Hina Aman at the film’s sets. Fahad Mustafa has generally maintained a private approach to his personal affairs while remaining highly active professionally. Alongside acting and hosting, he has established himself as a producer through Big Bang Productions, which has produced several successful Pakistani television projects. His latest film project has also kept him in the public spotlight. The appearance of Hina Aman at the shooting location has now brought renewed interest in a controversy that had largely faded from public discussion.

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The Senate committee, chaired by Senator Nasir Mehmood, took up the Green Enclave II and Sky Gardens matter during its meeting at Parliament House and decided to summon senior officials to explain how the disputed transactions and agreements took place. According to the briefing by NAB Director General Rizwan Khan, an inquiry into Green Enclave II, also known as Commerce Sky Gardens, was initiated on the basis of a Supreme Court judgment dated May 4, 2018. The central issue was the alleged conversion of Shamlaat land, which is common village land, into private land. NAB told the committee that the Supreme Court had placed a legal bar on the partition, construction and transfer of Shamlaat land and had declared such transactions illegal from the beginning. Despite this, more than 3,000 kanals in Moza Mengal were transferred to a private developer through two mutations in April 2018. The timing of these mutations became particularly controversial. NAB told the committee that the Supreme Court judgment came around 10 days after the mutations. The Naib Tehsildar Murree subsequently cancelled the mutations. However, after an appeal by the developer, the mutations were restored without following the required legal process, according to the NAB briefing. The issue did not end there. In April 2019, the Deputy Commissioner Murree wrote to the Federal Government Employees Housing Authority (FGEHA) and warned that the land was ineligible for a housing project because of the Supreme Court judgment. Despite this warning, the FGEHA Executive Board signed a joint venture agreement with the developer on October 11, 2019. The committee was told that 4,086 kanals were subsequently transferred to FGEHA and that by 2023, Rs5.4 billion had been released to the private contractor for development. Another issue raised before the committee was that the same party that supplied the land was also given the development contract without bidding. This raised further questions about the way the project was structured and approved. The controversy deepened over the role of NAB and two separate addenda. NAB officials told the committee that FGEHA had assured NAB in 2022 that it would not develop the disputed Moza Mengal land and would instead shift the project to Moza Kathar, which was described as clear private land. Based on that understanding, NAB closed its inquiry concerning Moza Mengal in May 2022. But according to the NAB briefing, after receiving the closure letter, FGEHA signed another addendum and brought Moza Mengal back into the project. The situation became even more serious when development funds were released. NAB said that after it learned in October 2023 that Rs5.4 billion was being released for development, it withdrew its no objection certificate and reopened the inquiry on December 12, 2023. The committee chairman questioned why FGEHA had entered into an agreement for land that had already been declared problematic. He said that if a project’s foundation was flawed, the entire project would face problems. The committee also questioned why FGEHA did not issue a warning to the developer after NAB withdrew its no objection certificate in December 2023. The Housing Secretary told the committee that FGEHA had called its joint venture partner and warned that the agreement could be cancelled if the partner failed to provide land free from legal complications. But the chairman was not satisfied. He pointed out that the committee had previously been told the NAB matter was complete, while the latest briefing showed that NAB had withdrawn its letter in December 2023 and reopened the inquiry. The chairman said this was a major issue and indicated that the committee would not leave the matter without further investigation. The committee then turned to recovering the disputed land. Revenue Officer Umer Owais told the committee that approximately 2,600 kanals had been retrieved so far. He said the entire Shamlaat land in the area had been marked in the official record with a red entry, making it non transferable. The district’s land record had also been digitised, with Shamlaat holdings digitally blocked to prevent further transactions. The administration also claimed that the recovery was not limited to paperwork. A show cause notice was issued to the Sky Gardens management on January 27, 2026. The management submitted its response on February 9, but officials said the response was unlawful and lacked supporting proof. An order was issued on March 17, 2026, after which officials went to the site. The administration found earthwork taking place and physically took back the relevant land. Officials demarcated the area and installed pillars and markings to identify the recovered land. The recovery report was also submitted to police, according to the briefing. The Secretary Housing questioned why he had not been informed about the physical recovery when he had visited the Commissioner’s office around two weeks earlier. The revenue officer replied that the matter had been discussed informally and that officials had planned to brief FGEHA and the Housing Ministry together. The chairman said the central question was simple: if the land had never been transferred, the controversy would not have developed. He questioned the role of the revenue officials who allowed the transfer and placed responsibility on FGEHA for accepting the land despite the Supreme Court judgment and the Deputy Commissioner’s

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