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Pakistan’s trade with Central Asia faces snags

ISLAMABAD: Pakistan’s exports to five Central Asian Countries (CACs) fell year on year by 8.62 per cent in the first 10 months of 2025-26. Exports to the region have turned negative following the closure of the land route into Afghanistan. However, Pakistan has started exporting goods to CACs via Iran, but trade remains limited in volume because of the long distance. In absolute terms, the value of Pakistan’s exports to the five CACs — Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan — dipped by 8.62pc to $147.992 million in July-April 2025-26 from $161.943m during the same period last year. Similarly, imports from the region dipped by 87.96pc to $20.882m in 10MFY26 from $173.383m during the same period last year. The majority of these imports came from Tajikistan, Uzbekistan and Turkmenistan. Pakistan’s trade with CACs is between $400 and $500m annually via Afghanistan. Uzbekistan has already implemented its transit trade agreement with Pakistan. Under the agree...
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Analysis: BUDGET 2026-27: Budget battles: who really shapes country’s finances?

THE budget is a tug-of-war between different interest groups. On one hand, there is explicit lobbying by various business groups and industry bodies that commission reports, hold events and engage policymakers. These organisations, explains Dr Ali Hasanain, associate professor of economics at Lums, also meet political party leaders and bureaucrats in both formal and private settings to communicate their concerns and policy preferences. This is broadly in line with how businesses operate globally. For ex­­ample, US President Donald Tru­­mp’s top backer in the last ele­ction was investor Timothy Mel­l­­on, who gave $150 million to Make America Great Again, Inc., follow­­ed by Elon Musk, who gave $118.6m. But while lobbying and formal influence exist everywhere, the distribution of power is far less orderly in Pakistan. No single player is all-powerful, though wealth is concentrated in relatively few hands. Instead, policy becomes outcome of fragmented pressure from multiple directions...
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Iran war fuels political backlash, inflation debate in the US

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WASHINGTON: Rising inflation and persistent energy price pressures have sharpened political divisions in Washington, with Democrats blaming President Donald Trump’s Iran policy and trade agenda for worsening economic conditions for American households. The latest figures showing inflation at 4.2 per cent in May, compared with wage growth of 3.4pc over the same period, have revived concerns that real incomes are being eroded as the cost of living continues to rise. Senate Democratic leader Chuck Schumer criticised the administration’s handling of the economy and foreign policy in a sharply worded social media post. “Another month of Trump’s illegal Iran war, another month of Trump’s tariffs, another month of Republican control of Congress. The result? A new all-time high for Trumpflation,” he wrote. He also highlighted remarks by economist Heather Long of Navy Federal Credit Union, who warned that inflation was outpacing wages. “Infl...
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A backdoor NFC revision?

• Budget delay exposes Centre-province fiscal deadlock • NFC shares may be frozen under budget pressure • Critics say Centre ignores revenues kept outside divisible pool • Experts blame fiscal crisis on low tax collection, debt, federal spending • Raza Rabbani warns of phased rollback of 18th Amendment, NFC Award WHEN Finance Minister Muhammad Aurangzeb rises to present his third budget, the usual questions will apply. Which sectors face fresh taxation? Will the salaried class get any relief? How much will the cost of living increase? Who will get tax benefits, and who will not? But this year, there is an additional dimension worth watching closely. Will the budget clip provincial finances? Will the Centre freeze provincial shares under the current National Finance Commission (NFC) arrangement and push fresh expenditure obligations onto provinces — over and above their existing requirement to produce a primary surplus? If it does, it would amount to a unilateral revision of the NFC ...
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Somali soccer referee denied US entry, will miss World Cup debut

The ​United States has denied entry to soccer referee Omar Abdulkadir Artan, who had been expected to be the ‌first Somali to officiate at a match in the World Cup. A FIFA spokesperson said Artan would not be able to train or officiate at the World Cup — which kicks off on Thursday — after he was not allowed to enter the United States over the weekend. Somalia’s government said it had unsuccessfully ​tried to negotiate with the US and FIFA so that Artan could enter the country and it was saddened ​by what had happened. “His international achievements are a source of honour and pride for the Somali people,” ⁠Somalia’s sports ministry said in a statement. In a press release issued on Tuesday, the Somali Football Federation (SFF) expressed sadness over the ​situation, calling Artan’s appointment a milestone for the country that resulted from years of dedication, professionalism and integrity. The SFF said it has ​not received an official explanation as to why Artan was denied entry t...
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AJK braces for long march as tensions persist

• ‘Proscribed’ JAAC to go ahead with rally from Bhimber to Muzaffarabad, sit-in outside assembly • Officials say govt ‘will not allow’ march to go ahead; large crowds unlikely since group’s leadership is ‘on the run’ MUZAFFARABAD: In the aftermath of Sunday night’s fierce clashes that claimed the lives of seven civilians and four law enforcement personnel in Rawalakot, Azad Jammu and Kashmir (AJK) braced for a shutter-down and wheel-jam strike on Tuesday (today) , announced by the proscribed Joint Awami Action Com­mittee (JAAC). According to initial plans, the JAAC had decided that protesters would start a long march from the southernmost district of Bhimber, passing through Mirpur, Kotli and Poonch before reaching Muzaffarabad on June 10 for a sit-in outside the Legislative Assembly. Government officials, meanwhile, appeared hopeful about the prospects of a tepid response to the protest call for several reasons, including the recent crackdown. In action against JAAC, the authoriti...
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US-Israel defence integration plan heads for House vote despite opposition

A controversial proposal to expand military technology cooperation between the United States and Israel is headed for a vote in the House of Representatives after surviving its first major congressional challenge, setting the stage for a broader debate over the future of one of Washington’s closest strategic relationships. The measure, known as the United States-Israel Defence Technology Cooperation Initiative, advanced out of the House Armed Services Committee on Friday after lawmakers rejected an amendment seeking to remove it from the annual defence policy bill. Opponents are expected to renew their challenge when the legislation reaches the House floor, likely in July. The initiative is part of the National Defense Authorization Act (NDAA), the annual legislation through which Congress sets policy and priorities for the US military. If enacted, it would establish a formal framework for expanding cooperation between American and Israeli defence industries and research institutio...
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