Business groups have criticised the federal budget 2026-27 for offering limited support to exports and industry. They say higher petroleum-related taxation, lack of energy relief and the absence of a simpler export tax regime will keep costs elevated.
PoliticsOpposition lawmakers in the National Assembly sharply criticised the FY2026-27 federal budget, questioning its tax measures, IMF-linked framework and impact on provinces. Speakers also raised concerns over political stability, provincial rights and revenue policy.
NATIONALThe Islamabad High Court has ruled that banks cannot freeze customers’ accounts without a verified legal basis. The court also fined a private bank Rs300,000 and asked the SBP to frame clear guidelines.
BusinessThe PSX ended the week higher at 172,400 points after recovering from sharp swings and a brief dip below 170,000. Brokerages cited easing US-Iran tensions, record remittances and budget-related caution among key market drivers.
BusinessThe federal government has constituted two committees to examine business and technical ambiguities in the Finance Bill 2026. Both panels will submit recommendations to the Tax Policy Office by June 20, 2026.
BusinessThe government has removed the 18% sales tax on the shipping sector in the 2026-27 budget. Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said the move would lower logistics costs, support investment and improve competitiveness.
PoliticsKhawaja Saad Rafique says the PML-N supported the PPP in Gilgit-Baltistan after unofficial results showed it was the largest party. He said the move was meant to prevent horse-trading and political bargaining.
WorldWorkers took down Donald Trump’s name from the Kennedy Center after a federal judge ruled the renaming unlawful. The court said only Congress has the authority to change the venue’s name.
NATIONALThe NCCIA says it is prioritising online harassment and blackmail complaints involving women and arrested 10 suspects in operations across Punjab on Saturday. The agency says further legal action will follow forensic examination of seized devices.
NATIONALThe Central Ruet-e-Hilal Committee will meet in Lahore on June 15 to sight the Muharram moon. The Met Office has said the crescent is unlikely to be visible that day despite expected clear weather in several areas.
LocalPolice in Larkana stopped the forced marriage of a 13-year-old girl to her 16-year-old cousin in Khero Dero village. Officials counselled the parents and obtained a written assurance that she would not be married before turning 18.
BusinessSM Tanveer has welcomed the federal budget 2026-27, calling it a growth-focused plan with incentives for exporters, real estate, shopkeepers and salaried individuals. He also praised the economic team and backed the higher defence allocation.
