Day: July 10, 2026

Islamabad: The Asian Development Bank (ADB) on Thursday lowered its growth forecast for developing Asia and the Pacific economies to 4.9% for 2026 compared to 5.5% growth in 2025.

This is a reduction of 0.2 percentage points from April projections, according to ADB’s latest economic outlook released by the bank on Thursday.

Prolonged disruptions to energy markets caused by the Middle East conflict have weighed more heavily on the region’s prospects than anticipated, says Asian Development Outlook (ADO) July 2026 adding the 2027 growth forecast is maintained at 5.1%, reflecting recovering activity as these pressures ease.

The outlook expects disruptions to global energy markets to unwind only gradually, despite a framework agreement signed in June.

With impacts extending beyond energy to fertilizers, other commodity prices, and supply chains, inflationary pressures are likely to persist. Regional inflation is now forecast at 4.3% this year compared to 3% in 2025-an upward revision of 0.7 percentage points from April. The inflation forecast for 2027 remains at 3.4%.

‘Durable implementation of the framework agreement would help normalize global energy markets, but the pace of adjustment is highly uncertain with significant downside risks,’ said ADB Chief Economist Albert Park.

‘Economic growth in developing Asia and the Pacific remains resilient, but persistent headwinds caused by the conflict require a careful policy balance between supporting growth and containing inflation,’ Albert Park added.

ADO July 2026 warns that renewed conflict escalation and prolonged geopolitical uncertainty remain key risks to the region’s outlook.

These could further tighten energy markets, raise risk premia, and intensify inflationary and external pressures.

Tighter global financial conditions pose additional risks, with sovereign bond yields and borrowing costs rising, and fiscal deficits projected to widen in several economies. Higher tariffs and elevated trade policy uncertainty could also weigh on activity, while rising fertilizer prices continue to threaten agricultural output and food security.

Growth projections for 2026 are lowered for most subregions, except developing East Asia. Forecasts for the People’s Republic of China are unchanged at 4.6% for 2026 and 4.5% for 2027, supported by strong exports and infrastructure investment. India’s growth forecast is revised down to 6.6% this year, as higher energy costs weigh on domestic demand, and maintained at 7.3% for next year.

Growth projections for Southeast Asia and the Pacific are also trimmed, reflecting weaker domestic demand and tourism, rising inflation, and higher import costs.

Islamabad: Sindh has completed the rehabilitation of 141 flood-hit farm-to-market roads spanning 848.7 kilometres across 19 districts under the Sindh Flood Emergency Rehabilitation Project.

According to official documents available with Wealth Pakistan, completed road works aim at restoring mobility, market access and rural connectivity in areas devastated by floods.

The rehabilitated roads cover flood-hit districts of Jamshoro, Dadu, Naushahro Feroze, Thatta, Sujawal, Hyderabad, Matiari, Tando Allahyar, Badin, Tharparkar, Sanghar, Mirpurkhas, Shaheed Benazirabad, Larkana, Umerkot, Khairpur, Shikarpur, Kambar Shahdadkot and Sukkur.

The project deadline for this road component was December 2027, but the official status shows the package has already been completed. The rehabilitated roads are expected to benefit around 5 million people, both directly and indirectly, by improving access to farms, markets, schools, health facilities and local commercial centres.

The documents also show wider progress under the Sindh Flood Emergency Rehabilitation Project. So far, 2.420 million people have benefited against the overall target of 5.3 million, while 1.171 million women have benefited against the target of 2.650 million.

In addition, 428,000 households have benefited so far, short of the target of 600,000. The project has also rehabilitated 205 kilometres of embankments to improved designs against a target of 250 kilometres, while 157,000 hectares of land have been restored against a target of 180,000 hectares.

The completion of farm-to-market roads is significant because rural road connectivity is a major bottleneck in post-flood recovery. Damaged roads cut off villages from markets, delay the movement of crops and livestock, raise transport costs and weaken household incomes. Restoring these links can directly support agriculture, small trade and rural employment.

Islamabad: Senior Superintendent of Police (SSP) VVIP Security/Red Zone Capt. (R) Syed Zeeshan Haider visited the Foreign Office security checkpoints to inspect security arrangements and review the performance of police personnel deployed at the site.

An official told reporter on Thursday that the SSP Zeeshan inspected the security deployment and assessed the checking mechanism to ensure effective security at the sensitive installation.

Zeeshan briefed the officers on the nature of their duties and directed them to remain vigilant while performing security checks.

He also issued instructions to further improve the checking process, enhance professionalism, and ensure strict compliance with security protocols.

The SSP Zeeshan emphasized that maintaining high security standards at key installations remained a top priority and directed the deployed personnel to perform their duties with dedication, alertness and professionalism, the official added.

Islamabad: Governor Khyber Pakhtunkhwa Faisal Karim Kundi on Thursday stressed the need for timely completion of key highway projects in the province, saying modern road infrastructure was vital for economic growth, tourism promotion and regional connectivity.

He expressed these views during a meeting with National Highway Authority (NHA) Chairman Capt (Retd) Asadullah here, where they reviewed progress on ongoing and proposed highway projects in Khyber Pakhtunkhwa.

The meeting discussed the Hazara Expressway, Chakdara-Dir-Chitral Road, the Paniala Interchange under the China-Pakistan Economic Corridor (CPEC), and the Dera Ismail Khan-Tibbi Qaisrani-Dera Ghazi Khan road project.

Matters relating to timely completion of the projects, availability of funds and provision of improved travel facilities to the public also came under discussion.

The Governor said projects such as the Hazara Expressway and Chakdara-Dir-Chitral Road would not only improve connectivity for people in northern districts but also create new opportunities for tourism, trade and investment.

Describing the Paniala Interchange as an important project on the western route of CPEC, Kundi said its early completion would boost commercial activities in southern Khyber Pakhtunkhwa, particularly Dera Ismail Khan, and strengthen links with the national highway network.

He urged NHA authorities to accelerate work on all development schemes so that people could benefit from them at the earliest.

The meeting also reviewed progress on the dualisation of the Dera Ismail Khan-Dera Ghazi Khan Road.

The Governor proposed inclusion of the Naiwela and Parova bypass roads in the project, calling them a longstanding demand of the local population.

The NHA chairman informed the meeting that work on the Sherwan Interchange on the Hazara Expressway in Abbottabad would begin after the release of Rs 3.36 million in funds.

He said work on the Lowari Tunnel was in progress, while development regarding the Shah Isa Interchange was also underway.

Governor Kundi directed the NHA to take action over the substandard work on the Mastung-Chitral Road project and ensure its early completion. He was also briefed on the planned repair work on the Hakla-Dera Ismail Khan section of the CPEC route.

Islamabad: Secretary-General of the Developing-8 Organization for Economic Cooperation (D-8), Ambassador Sohail Mahmood, has called for deeper halal economic integration among member states, proposing a range of initiatives to strengthen trade, investment, innovation and regional cooperation in the rapidly expanding global halal economy.

In a video message at the inaugural D-8 Halal Expo Indonesia (HEI) 2026 in Jakarta, Ambassador Sohail Mahmood congratulated the Government of Indonesia on successfully hosting the first-ever D-8 Halal Expo, and commended its leadership in advancing the halal economy as a key driver of sustainable development, industrial transformation, and regional economic integration, said a press release received here on Thursday.

With the thematic focus on “Strengthening D-8 Halal Economy Through International Collaboration,” the 5-day event brings together Ministers, Senior Officials, business leaders, investors, entrepreneurs, and halal industry stakeholders from across the D-8 region and beyond to promote trade, investment, innovation, and strategic partnerships throughout the global halal ecosystem.

The opening ceremony for HEI was officiated by H.E. Anis Matta, Vice Minister of Foreign Affairs of the Republic of Indonesia, together with senior representatives of the National Committee for Islamic Economy and Finance (KNEKS); the Halal Product Assurance Agency (BPJPH); the Hajj Fund Management Agency (BPKH); Ambassadors, senior diplomats and Officials from D-8 Member States; as well as other noted dignitaries.

He particularly welcomed Indonesia’s proposals to institutionalize the D-8 Halal Expo as an annual flagship event and to host the proposed D-8 Halal Economy Cooperation (HEC) Secretariat, describing these as far-reaching initiatives that would further strengthen the Organization’s institutional architecture while fostering enhanced policy coordination, private-sector engagement, research collaboration, capacity-building, and intra-D-8 trade and investment.

The Secretary-General noted that the D-8, representing more than 1.28 billion people and a combined GDP exceeding US$5 trillion, possesses the complementary strengths required to become a globally competitive hub for halal production, trade, investment, and innovation. He observed that although the global halal economy is expanding rapidly across food, pharmaceuticals, cosmetics, healthcare, tourism, logistics, Islamic finance, and digital commerce, the Muslim-majority countries continue to capture only a limited share of global halal value chains. Addressing this gap, he stressed, requires greater regional integration, innovation, industrial competitiveness, and value addition.

Within the framework of the D-8 Decennial Roadmap 2020-2030, the Secretary-General described the halal economy as another critical enabler for realizing the Organization’s target of US$ 500 billion intra-D-8 trade by 2030. He emphasized that deeper cooperation in the halal sector can contribute significantly to economic diversification, food security, SME development, investment promotion, and sustainable growth across Member States.

To advance this vision, Sohail Mahmood proposed three specific initiatives. First, the establishment of an Integrated D-8 Halal Trade Corridor through the gradual harmonization and mutual recognition of halal standards and certification systems, interoperable digital certification, enhanced customs cooperation, dedicated halal logistics corridors, and simplified trade procedures. Second, the creation of a D-8 Digital Halal Marketplace and Investment Platform to connect manufacturers, exporters, SMEs, investors, Islamic financial institutions, certification authorities, and buyers, thereby facilitating business matchmaking, cross-border e-commerce, investment partnerships, and supply-chain integration. Third, enhanced joint investment in research, innovation, halal industrial parks, biotechnology, food technology, pharmaceuticals, artificial intelligence, blockchain-enabled traceability, sustainable logistics, green manufacturing, and skills development to ensure that D-8 Member States remain competitive in th
e industries of the future.

The Secretary-General reaffirmed the commitment of the D-8 Secretariat to work closely with Indonesia, D-8 Member States, affiliated institutions, private sector, and international partners to transform these initiatives into practical programmes that deliver tangible benefits for businesses and citizens across the D-8 geography.

The Expo also featured remarks by Indonesian officials highlighting the importance of strengthening cooperation in halal standards, certification, trade facilitation, and investment while promoting Indonesia’s role as one of the leading centers of the global halal economy. Over five days, the Expo will host international exhibitions, business matching sessions, investment forums, and thematic discussions covering halal food, pharmaceuticals, cosmetics, modest fashion, Islamic finance, tourism, digital services, and emerging technologies.

As the first event of its kind under the D-8 framework, the D-8 Halal Expo Indonesia 2026 represents a major landmark towards building integrated halal value chains, expanding South-South cooperation, strengthening regional competitiveness, and positioning the D-8 as a prominent player in efforts to promote a more innovative, resilient, and sustainable global halal economy.

Islamabad: Prime Minister Shehbaz Sharif on Thursday said that Pakistan desired to further strengthen bilateral cooperation with Croatia, particularly through enhanced trade and investment, information technology, connectivity, agriculture, tourism, and skilled manpower.

The prime minister, in a “warm and cordial” meeting with Minister for Foreign and European Affairs of the Republic of Croatia Dr. Gordan Grlic Radman, who called on him here, said that Pakistan enjoyed friendly relations with Croatia, marked by cordiality, mutual respect, and shared interest.

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar and Foreign Secretary Ambassador Amna Baloch were also present during the meeting.

Welcoming the Croatian foreign minister and his delegation to Pakistan, the prime minister conveyed his warm regards and good wishes to President Zoran Milanovic and Prime Minister Andrej Plenkovic, and extended a cordial invitation to both leaders to undertake official visits to Pakistan, at their convenience.

Croatian Foreign Minister Radman thanked the prime minister for the warm welcome and said that he was honored to visit Islamabad.

He congratulated Pakistan and its leadership on playing a prominent role in regional peace efforts and expressed his Government’s desire to enhance Pakistan-Croatia ties in all areas of mutual interest.