Category: Islamabad

Islamabad: The Asian Development Bank (ADB) on Wednesday signed a Transaction Advisory Services Agreement (TASA) with Privatization Commission to support the structuring and implementation of the outsourcing of Islamabad International Airport through a long-term concession aimed at improving efficiency, service quality and private sector participation.

‘Under the agreement, ADB will serve as the transaction adviser to support the PC in structuring and implementing the outsourcing of Islamabad International Airport,’ the bank wrote on X.

The signing ceremony was led by Emma Fan, ADB’s Country Director for Pakistan, and Muhammad Ali, Adviser to the Prime Minister on Privatization and Chairman of the Privatization Commission, with senior officials from ADB and the Ministry of Privatization Commission present.

The transaction focuses on award of long-term concession for the operations and maintenance of the airport to a qualified private sector operator through a transparent and competitive procurement process, aiming to enhance operational efficiency, service quality, elevate the passenger experience, and optimizes value for government.

‘I appreciate the Privatization Commission’s efforts and achievements and reiterate ADB’s commitment to support private sector development in Pakistan. ADB will leverage its expertise and lessons from structuring and delivering similar strategic transactions to ensure the success of this initiative,’ said Emma Fan.

Islamabad: The prices of gold witnessed an increase in the local market on Wednesday, with the price of 24-karat gold per tola rising by Rs900 to Rs425,036, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.

Similarly, the price of 10 grams of 24-karat gold increased by Rs771 to Rs364,399, while the price of 10 grams of 22-karat gold went up by Rs707 to Rs334,044.

In the international market, the price of gold increased by US$9 to US$4,026 per ounce.

Meanwhile, the price of silver remained unchanged, with 24-karat silver per tola holding steady at Rs6,289 and 10 grams of silver unchanged at Rs5,391.

The price of silver in the international market also remained unchanged at US$58.10 per ounce, the association reported.

Islamabad: The Pakistan Institute of Development Economics (PIDE) on Wednesday urged the government to launch a ‘Middle East Recovery Mission’ through the Special Investment Facilitation Council (SIFC) to help Pakistan shift from labour export to contract-led exports and capture opportunities in the Gulf’s trillion-dollar project market.

The Pakistan Institute of Development Economics (PIDE), in its latest Policy Viewpoint titled “Capturing the Middle East Recovery: From Labour Export to Contract Export,” called for immediate launch of the initiative to enable Pakistan to export contracts, services, goods and firm-level expertise instead of relying primarily on labour exports.

Authored by PIDE Professor of Economics and Registrar Dr Nasir Iqbal, the report said Pakistan’s economic ties with Gulf countries remained significant but structurally weak, with the country earning mainly through remittances while securing only a limited share of commercial opportunities in construction, logistics, engineering, hea
lthcare, information technology and regional reconstruction.

The report estimated the Gulf’s project and reconstruction market at over US$1.5 trillion during the current decade, including Saudi Vision 2030 projects and reconstruction needs in Syria, Gaza and Lebanon, but noted Pakistan continued to benefit largely from workers’ wages rather than project contracts and supply chains.

It highlighted that Pakistan exported goods worth US$3.79 billion to GCC countries in FY2025 against imports of around US$17.9 billion, while more than 762,000 Pakistanis went abroad for employment in 2025, with nearly 61 per cent classified as unskilled.

PIDE proposed that the Mission should operate through five permanent desks within the SIFC, focusing on labour and skills certification, exports and supply chains, investment and contracts, defence-industrial cooperation, and migrant protection, using existing institutions instead of creating a new authority.

The report recommended certifying, registering and insuring workers
before deployment, while preparing Pakistani firms in construction, logistics, healthcare, IT and facilities management to secure subcontracts, joint ventures and project partnerships in Gulf markets.

It further proposed introducing a Gulf Worker ID linked with NADRA, banking, insurance and skills certification, besides launching a Pakistan Development Bond to channel diaspora savings into productive investment.

PIDE estimated the proposed Mission could generate an additional US$2-4 billion in annual external inflows by the third year, with the potential to exceed US$5 billion by the fifth year through higher remittances from skilled workers, increased exports, contract revenues and defence-industrial cooperation.

The institute urged the federal government to designate the SIFC as the coordinating platform for the initiative, approve a 90-day implementation framework and ensure transparent and audited execution to maximise economic gains for Pakistani workers and businesses.

Islamabad: Deputy Prime Minister/Foreign Minister (DPM/FM), Senator Mohammad Ishaq Dar and Chairman Pakistan Peoples Party (PPP), Bilawal Bhutto Zardari on Tuesday held a meeting here at the Aiwan-i-Sadr.

During the meeting, both the dignitaries exchanged views on issues of national importance and shared perspectives on the overall political and national situation, including matters relating to Gilgit-Baltistan (GB) and Azad Jammu and Kashmir (AJK), a DPM’s Office news release said.

Islamabad: The Pakistan Tourism Development Corporation (PTDC), under the Ministry of Inter-Provincial Coordination (IPC), successfully concluded the National Tour Guide Training Program 2026 with a certificate distribution ceremony held at PTDC head office.

The certificates of participation were awarded by Mohyuddin Ahmad Wani, Secretary, Ministry of Inter-Provincial Coordination (IPC), and Aftab-ur-Rehman Rana, Managing Director, PTDC, in recognition of their successful completion of the two weeks’ intensive foundation tour guides training program. 19 young participants from different cities of Pakistan participated in this training program.

In his address, the Secretary IPC appreciated the participants’ dedication and emphasized the vital role of qualified tour guides in promoting Pakistan’s tourism potential, preserving its rich cultural heritage, and enhancing visitors’ experiences.

He reaffirmed the Government’s commitment to strengthening tourism through capacity-building initiatives.

Managing Director PTDC congratulated the graduates and encouraged them to serve as professional ambassadors of Pakistan by delivering authentic, responsible and high-quality tourism experiences. He highlighted PTDC’s continued commitment to developing a skilled tourism workforce through partnerships with leading industry stakeholders.

He also thanks all the partner organizations including COTHM, STFP, PATO and Alpine Club of Pakistan and all the resource persons for their efforts to make this program a big success.

The training program combined classroom learning with practical field exposure visits, equipping participants with professional tour guiding techniques, destination interpretation skills, visitor management, communication, first aid awareness and hands-on experience through field visits to major tourism and heritage sites.

PTDC extends its sincere appreciation to all partner organizations, instructors, and participants for contributing to the successful completion of this important national initiative.

Islamabad: Minister for Defence Khawaja Muhammad Asif strongly denounced the statement made by Jamiat Ulema-e-Islam (JUI-F) Chief Maulana Fazlur Rehman, terming it highly irresponsible and an insult to the immense sacrifices of the martyrs.

Maulana Fazlur Rehman is a seasoned politician and a respected religious leader, and that greater responsibility is expected of him in the choice of his words, he wrote on his social media platform, X.

The Defence Minister said linking the sacrifices of soldiers to their salaries is not only unfair but also hurts the sentiments of the martyrs and their families.

He said nobody lays down their life merely for a salary. The sacrifice of life, he said, is driven by ideology, faith, a sense of duty, and deep devotion to the homeland.

Asif said the war against terrorism is ongoing, and personnel of the Armed Forces, along with members of other institutions and civilians, continue to embrace martyrdom.