ISLAMABAD: Prime Minister Shehbaz Sharif on Friday expressed satisfaction over the annual decline in Pakistan’s Sensitive Price Index (SPI), which he said had fallen to -3.52% in April 2025, compared to 26.94% in the same month last year.
The SPI measures weekly changes in the prices of essential items such as food, fuel and utilities across various consumption groups. Unlike the broader Consumer Price Index (CPI), which captures overall inflation, the SPI focuses on short-term price movements that affect low- and middle-income households most directly.
“The [SPI] rate stood at 26.94% in the same month last year, whereas in April 2025, it has been recorded at minus 3.52%,” the prime minister said in a statement issued by his office.
“The country’s economic indicators are improving with each passing day,” he added. “The government is making every effort to ensure that the benefits of these improving economic indicators reach the public.”
Sharif also commended his economic team for their efforts in stabilizing the economy and curbing inflation.
In May 2023, Pakistan experienced its highest recorded inflation, with the CPI reaching 38% year-on-year, driven by surging food and energy prices.
The recent decline in the SPI indicates potential relief for consumers, though the government continues to face challenges in managing the economy, including meeting fiscal targets and securing external financing.
Pakistan PM hails negative SPI inflation, says economic indicators improving
https://arab.news/mv4zj
Pakistan PM hails negative SPI inflation, says economic indicators improving
- SPI focuses on short-term price movements that affect low- and middle-income households most directly
- Shehbaz Sharif says the government wants to pass on the benefits of improving economy to the public
Pakistan says 3,000 evacuated from Iran as stranded students plead for help
- Foreign Office says evacuations are underway via land borders and special flights from neighboring countries
- Pakistani students stranded in Iran express fear for their safety amid ongoing Israeli missile and airstrikes
ISLAMABAD: The foreign office said on Thursday about 3,000 Pakistani nationals have been evacuated from Iran following the Israeli attack, adding the country’s diplomatic mission is working to facilitate stranded students seeking urgent evacuation.
A week of Israeli air and missile strikes, which began on June 13, has led to the killing of many of Iran’s top-ranking military officials and ordinary people. In response, Tehran’s retaliatory strikes have also killed about two dozen civilians in Israel.
Following Friday’s escalation, Iran closed its airspace to commercial flights, stranding hundreds of expatriates, including Pakistani religious tourists, students and workers.
“The evacuation is moving smoothly and so far, nearly 3,000 Pakistani nationals have already been evacuated,” foreign office spokesperson Shafqat Ali Khan told reporters in his weekly media briefing.
“Our consulates in Zahedan and Mashhad have been active round the clock, extending all possible facilitation and support to our nationals who are in Iran,” he said, expressing gratitude to the Iranian authorities for their sensitivity and all possible facilitation and help extended in this process.
Khan said the Pakistani mission was using multiple routes to evacuate citizens, including via the Gabr and Taftan border crossings, through Ashgabat, Baku and even Baghdad, through special flights.
“It’s an ongoing process as there are logistical challenges at times, but we are working together with the Iranian authorities to resolve them if a problem arises,” he added.
The spokesperson said there is a sizeable Pakistani community in Iran, with many of them living in the neighboring state for years with their families after marrying local people.
STRANDED STUDENTS
Speaking to Arab News from various cities across Iran, Pakistani students expressed serious concerns about their safety and appealed for immediate evacuation.
“I have been stranded here since the suspension of flight operations due to the regional tensions,” Muhammad Hussain, a Pakistani medical student at Qom University of Medical Sciences, told Arab News over the phone.
“The situation is becoming more tense, we are now hearing continuous explosions, which has increased our concern for safety,” he said, adding that he tried to reach out to the Pakistan embassy as well who asked him to travel to the Chabahar border.
“I am unable to get any means to go there,” he said, urging the Pakistan government and the embassy to arrange special transport to take them to border.
“Our families are extremely worried, and we just want to go back,” he added.
Noman Khan, an MBBS student in Urmia, a city in Iran’s Azerbaijan province, said he was part of a group of Pakistani students, including 10 girls, awaiting repatriation amid the ongoing situation.
“We contacted the embassy to evacuate us and, about two days ago, they asked us to book a bus ourselves, promising to send the payment,” he informed, adding that even after more than 60 hours, they were still waiting for the payment without which they were unable to get transport to cross border.
“We have female students with us as well who are also scared as nearby cities were also hit by missiles,” he continued.
“Our city is about two hours away from Tabriz and almost two to three drones were shot down in our city as well.”
Saman Yunus, another medical student at Iran University of Medical Sciences, said that due to the ongoing Iran-Israel conflict, they had been traveling for the past four days.
“The Pakistani Embassy advised us that it would be safer to go to the Chabahar border and assured us that any issues related to accommodation or other needs would be resolved within minutes,” she told Arab News.
However, she said the biggest problem they faced was that the border was not open 24/7 and there was no accommodation available.
“As a result, we had to spend the entire night on the roadside and we contacted both our university and the embassy, but no help was provided,” she continued, adding they were now heading to Pakistani consulate in Zahedan, hoping they would facilitate a safe border crossing.
“A representative there has assured us that they will handle it as soon as possible and ensure we safely cross border,” she added.
Pakistan unveils new EV policy with over $353 million in subsidies for electric bikes, rickshaws
- The new policy for 2025-30 aims to cut $1 billion in fuel costs and 4.5 million tons of emissions
- Pakistan currently has about 70,000 electric motorcycles, 5,200 electric cars and 450 electric buses
ISLAMABAD: The government on Thursday unveiled Pakistan’s new Electric Vehicle (EV) Policy 2025-30, announcing a five-year subsidy of over Rs100 billion ($353 million) for electric bikes and rickshaws.
The move comes amid a steady rise in electric vehicle adoption in a market traditionally dominated by Japanese automakers. Pakistan’s urban areas exhibit some of the world’s highest levels of air pollution, with road transport being a major contributor.
Chinese and Korean EV brands are increasingly entering the local market, making these vehicles a more frequent sight in cities such as Islamabad, Lahore and Karachi.
“Total subsidy over five years will be over Rs100 billion and it will basically be focused on the two-and-three wheelers,” Haroon Akhtar Khan, a close aide to Prime Minister Shehbaz Sharif, told a news conference. “We will have subsidized financing for 116,053 electric bikes, 3,171 rickshaws.”
“A Rs9 billion [$31 million] subsidy will be allocated, and it is already there in the 2025-26 budget,” he continued.
Khan added the government also allocated a 25 percent quota for women to increase their mobility.
He projected the initiative will help with the annual savings of Rs283 billion ($1 billion) in fuel costs and a reduction of 4.5 million tons of carbon emissions.
Khan said Pakistan’s new EV policy was aimed at disincentivizing internal combustion engine vehicles and promoting electric mobility to help cut greenhouse gas emissions that damage the earth’s ozone layer.
He informed Pakistan has around 70,000 electric motorcycles, 5,200 electric cars and 450 electric buses, adding the government issued 61 manufacturing licenses for electric two- and three-wheelers including motorcycles and rickshaws.
Khan also acknowledged the country lacks adequate EV charging infrastructure and faces challenges related to the absence of safety and quality standards.
He said the government aims for 30 percent of all new vehicles produced over the next five years to be electric.
“So, we are establishing new electric vehicle testing rules, safety and emission standards,” he said.
“We have to make sure that if anybody is manufacturing an electric vehicle there are no emissions,” he continued. “Another thing is battery disposal. We don’t want to create any environmental problem that the battery is not disposed properly.”
The country previously approved an ambitious National Electric Vehicles Policy (NEVP) in 2019, aiming for electric vehicles to make up 30 percent of all passenger car and heavy-duty truck sales by 2030.
The policy set an even more ambitious target of making 90 percent of all vehicle sales electric by 2040.
Pakistan hosts Bangladeshi academic delegation under OIC’s scientific cooperation framework
- Vice chancellors of Bangladesh universities met counterparts from top 15 Pakistani universities
- Once a single country, Pakistan and Bangladesh have begun slowly rebuilding diplomatic ties
ISLAMABAD: A seven-member delegation from Bangladeshi universities is currently visiting Pakistan to deepen academic and scientific cooperation between the two countries, the Organization of Islamic Cooperation’s coordinating body for scientific collaboration said on Thursday.
Pakistan and Bangladesh, once a single country before the bloody 1971 war, have slowly begun rebuilding ties after last year’s political upheaval in Dhaka, which saw the ouster of Prime Minister Sheikh Hasina Wajid, long viewed as critical of Islamabad and aligned with New Delhi.
She fled to India by helicopter after her administration’s downfall in August 2024, with Dhaka now seeking her extradition.
The ties between India and Bangladesh’s interim government have become frosty, creating space for Islamabad and Dhaka to re-engage after decades of limited contact.
“The forum brought together a seven-member Bangladeshi delegation comprising vice chancellors and senior representatives from leading universities, and vice chancellors from 15 top Pakistani universities, which are part of COMSTECH Consortium of Excellence,” the OIC-COMSTECH said in a statement, adding that academics from Bangladesh are visiting Pakistan from June 16-21.
The visiting delegation termed their ongoing visit as “historical, highly productive and promising” for academic collaboration between Bangladesh and Pakistan.
Vice chancellors from Pakistani and Bangladeshi universities held discussions aimed at deepening academic and scientific cooperation, it added.
The meetings focused on expanding collaboration in key areas including student and faculty exchange programs, scholarship opportunities, joint research initiatives apart from sharing academic expertise.
The participants of the meeting also agreed that each university would appoint a focal person to ensure effective follow-up on commitments made during the visit.
Bangladesh High Commissioner to Pakistan Iqbal Hussain Khan, the chief guest at the event, praised COMSTECH for offering scholarships, organizing the visit and facilitating meaningful academic exchanges between higher education institutions of the two countries.
In May, Pakistan’s Foreign Minister Ishaq Dar agreed to strengthen bilateral relationship with Bangladesh and maintain high-level contacts with its leadership.
Pakistan’s government launched a new program in December 2024 through which it will provide fully funded scholarships to 300 Bangladeshi students.
Prime Minister Shehbaz Sharif met Bangladesh Chief Adviser Dr. Muhammad Yunus in New York last year at a ceremony hosted by the Bangladeshi leader to mark the completion of 50 years of Bangladesh’s membership in the United Nations.
Both sides had agreed to forge stronger ties and enhance bilateral cooperation in various fields during their meeting.
Five groups submit qualification documents in Pakistan’s renewed push to privatize PIA
- Eight interested parties, including private firms and a military-backed group, initially submitted expressions of interest
- Pakistan’s Privatization Commission will evaluate the qualification documents before advancing to the next stage
KARACHI: Pakistan has received qualification documents from five investor groups seeking to acquire a controlling stake in its loss-making national carrier, the Privatization Commission said on Thursday, as the government advances a long-delayed divestment plan.
The privatization of state-owned entities has been mandated by the International Monetary Fund (IMF) as Pakistan works to implement structural reforms and stabilize its economy, which has recently shown signs of macroeconomic improvement.
Pakistan International Airlines (PIA), in particular, has survived for years on government bailouts, placing further strain on the country’s already cash-strapped finances.
The government invited expressions of interest in April for a stake ranging from 51 percent to 100 percent in Pakistan International Airlines Corporation Limited (PIACL), along with management control. The final deadline for submitting Statements of Qualification (SOQs) was today.
“The Privatization Commission received Expression of Interest (EOI) from ... eight interested parties,” the official statement said, adding that “five interested parties submitted SOQs by the deadline today.”
Among the groups that submitted documents are a consortium comprising Lucky Cement, Hub Power Holdings, Kohat Cement, and Metro Ventures; a consortium led by Arif Habib Corporation with Fatima Fertilizer, City Schools and Lake City Holdings; Air Blue Limited; Fauji Fertilizer Company Limited, which is a military-backed firm; and a consortium including Serene Air, Augment Securities, Bahria Foundation, Mega C&S Holding and Equitas.
The government had previously attempted to privatize PIA in 2024 but called off the process after receiving a single bid of Rs10 billion ($36 million) from Blue World City — far below the Rs85 billion ($305 million) floor price.
The sale was scrapped, citing the airline’s weak financial position and unattractive terms for buyers.
PIA has long been a fiscal liability, with operational earnings repeatedly offset by heavy debt servicing. However, following restructuring, it reported an operating profit of Rs9.3 billion ($33.1 million) in April, its first in 21 years.
“The SOQs submitted by the parties will be evaluated by the Privatization Commission against the prequalification criteria,” the official statement informed. “The prequalified parties will proceed to the next stage where they will be given access to the virtual data room to undertake buy-side due diligence.”
Pakistan draws five potential buyers for national air carrier
- The interested parties include business groups and a military-backed firm
- The sale is seen as a test of Pakistan’s ability to shed loss-making state firms
ISLAMABAD: In its efforts to sell its struggling national airline, Pakistan has received expressions of interest from five parties, including business groups and a military-backed firm, the Privatization Ministry said on Thursday.
The bids were submitted ahead of a June 19 deadline to acquire up to 100 percent of Pakistan International Airlines, which has accumulated over $2.5 billion in losses in roughly a decade.
Still, following a major restructuring, it posted its first operating profit in 21 years in the year through June 2024.
The sale is seen as a test of Pakistan’s ability to shed loss-making state firms and meet conditions of a $7 billion International Monetary Fund bailout. It would be the country’s first major privatization in nearly two decades.
Eight parties submitted their expressions of interest, but only five of them provided documents of qualification, the ministry said in a statement.
