BusinessPakistan missed its FY26 targets for crude oil and natural gas production, while LPG and coal output exceeded estimates, according to the Annual Plan 2026-27. The document also shows drilling activity remained far below target despite 17 hydrocarbon discoveries.
BusinessPakistan’s IT and IT-enabled services exports rose to more than $4.18 billion in July-May FY26, the highest level on record. The figure includes over $1 billion earned by freelancers.
BusinessOil prices rose more than 1% after Donald Trump said the US-Iran memorandum of understanding was not final. Concerns about excess supply next year, however, limited the advance.
BusinessPakistan's footwear manufacturers have opposed a Finance Bill 2026 proposal to place the sector under the Third Schedule. The industry says the move could create practical difficulties and drive business back into the undocumented economy.
NATIONALSindh Senior Minister Sharjeel Inam Memon has termed the Sindh budget for FY2026-27 people-friendly and balanced. He said the tax-free budget prioritises relief, development, housing, education and healthcare.
EducationCivil society activists and teachers in Karachi have called for the resignation of Federal Urdu University VC Prof Dr Zabta Khan Shinwari, alleging serious administrative, financial and academic failings. They also raised concerns over governance decisions and a Rs100 million solar project.
CITYGovernment employees protested in Karachi on Wednesday against a pay freeze and sought salary increases in line with inflation. Road closures and heavy security around the Red Zone and Karachi Press Club caused widespread traffic disruption.
CITYAn eight-year-old girl was killed and her mother injured after a motorcycle accident on Karachi’s Super Highway near Gadap City. Rescue officials said the woman’s shawl got caught in the bike’s chain, causing them to fall.
CITYA 19-year-old man was shot dead in Abdullah Goth, Shah Latif Town, after resisting a robbery, police said. The killing has pushed the number of such deaths in Karachi this year to 39.
NATIONALBalochistan has allocated Rs119.6 billion to health and agriculture in its FY2026-27 budget. The package includes Rs96 billion for health and Rs23.6 billion for agriculture-related spending.
NATIONALPTI’s leadership has advised the KP government to present a full-year budget on June 19 instead of a three-month interim plan. The recommendation follows legal consultations and internal party discussions.
WorldDonald Trump said the interim deal with Iran helped prevent a global economic crisis and said shipping through the Strait of Hormuz had increased since the truce. He also warned the US could bomb Iran again if it violated the agreement.
