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Pakistan shifting away from aid to trade with GCC countries: FinMin

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Pakistan shifting away from aid to trade with GCC countries: FinMin


Finance Minister Muhammad Aurangzeb giving an interview to CNN Business Arabia. — X/@kschehzad
  • Inflation drops to single-digit from 38% peak.
  • Primary surpluses and reserves strengthen external buffers.
  • Ratings agencies upgrade Pakistan’s outlook this year.

Finance Minister Muhammad Aurangzeb has that said Pakistan is shifting away from aid-based support towards trade and investment-led engagement, with a focus on deeper economic partnerships with Gulf Cooperation Council (GCC) countries.

In an interview with CNN Business Arabia, Aurangzeb said the strategic shift, which he said has been clearly articulated by Prime Minister Shehbaz Sharif, reflects Pakistan’s renewed economic confidence and reform momentum, aimed at long-term economic sustainability.

He said Pakistan has remained on a comprehensive macroeconomic stabilisation programme over the past 18 months, delivering what he described as “tangible and measurable” results. Inflation, which he said had peaked at an unprecedented 38%, has declined to single-digit levels. 

Aurangzeb also pointed to primary surpluses, a current account deficit “well within” targeted limits, a stabilised exchange rate and foreign exchange reserves improving to around 2.5 months of import cover, which he said reflected strengthening external buffers.

The finance czar cited two external validations of Pakistan’s improving outlook. He said all three international credit rating agencies have upgraded Pakistan’s ratings and outlook this year, and that Pakistan has completed the second review under the International Monetary Fund (IMF) Extended Fund Facility (EFF), with the IMF Executive Board granting its approval earlier this week, developments he said signalled growing international confidence in Pakistan’s economic management and reform trajectory.

The finance minister said macroeconomic stabilisation has been achieved through a coordinated approach combining disciplined monetary and fiscal policies with an ambitious structural reform agenda. He said reforms are being pursued across taxation, energy, state-owned enterprises, public financial management and privatisation to consolidate stability and lay the foundations for sustainable growth.

On taxation, the finance minister said Pakistan’s tax-to-GDP ratio has improved from 8.8% at the start of the reform programme to 10.3% in the last fiscal year, with a clear path towards 11%. 

He said the government’s objective is to reach a level of tax collection that ensures fiscal sustainability over the medium to long term by widening the tax base and bringing previously undertaxed but economically significant sectors, including real estate, agriculture, and wholesale and retail trade, into the formal net.

He said the plan also includes deepening compliance by reducing leakages through production monitoring systems and AI-enabled technologies, alongside reforms in people, processes and technology to transform tax administration.

In the energy sector, Aurangzeb highlighted efforts to improve governance in distribution companies, bring in private-sector expertise, advance privatisation and reduce circular debt, which he said has long constrained the power sector. He said rationalising the tariff regime is essential to make energy more competitive for industry, supporting industrial revival and economic growth.

The senator acknowledged the longstanding support of GCC countries, including Saudi Arabia, the United Arab Emirates and Qatar, noting their role in supporting Pakistan through financing, funding and cooperation at international financial institutions such as the IMF. He said the relationship is now evolving towards a new phase centred on trade expansion and investment flows.

He said remittances continue to play a vital role in supporting the current account, with inflows reaching about $38 billion last year and projected to rise to $41–42 billion this year, with more than half originating from GCC countries.

Looking ahead, Aurangzeb said Pakistan is engaging GCC partners to attract investment in priority sectors including energy, oil and gas, minerals and mining, artificial intelligence, digital infrastructure, pharmaceuticals and agriculture. He also expressed optimism about progress on a Free Trade Agreement with the GCC, saying discussions are at an advanced stage.

Reiterating the government’s direction, the finance minister said Pakistan’s future lies in fostering trade and investment partnerships rather than reliance on aid, arguing that foreign direct investment into productive sectors would support higher GDP growth, generate employment and deliver shared economic benefits for Pakistan and its partners. 

He said the government is fully mobilised to translate the vision into reality.





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Britney Spears meets son Jayden after DUI arrest

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Britney Spears meets son Jayden after DUI arrest


Britney Spears meets son Jayden after DUI arrest

Britney Spears has broken her social media silence following her DUI arrest last month, sharing a playful video with her younger son Jayden Federline, her first post since the 4 March incident.

The 44-year-old uploaded the clip to Instagram on 27 March, showing the pair larking around together in front of a mirror, taking turns holding a red phone to snap pictures. 

Britney was clearly in good spirits, tossing her hair and smiling throughout. At one point she danced playfully around Jayden before quickly catching herself. 

“Naughty little sister and a mama too!” she said while leaping around him. “Composure, I’m being very composed.” 

Jayden, 19, had his own moment in the video when he put on a Fedora hat and channelled his inner Michael Jackson, saying: “I wish I could be like Michael.”

Britney also changed outfits during the clip, swapping her initial all-white look, low-rise white shorts and a cropped long-sleeved top, for skinny jeans, a blazer and heels. 

She captioned the video warmly: “Thank you guys for all your support… spending time with family and friends is such a blessing!!! Stay kind!!!”

Britney Spears/Instagram
Britney Spears/Instagram

The reunion comes after her rep confirmed in early March that Britney would be spending time with her sons as she worked through the aftermath of her arrest. 

“Britney is going to take the right steps and comply with the law and hopefully this can be the first step in long overdue change that needs to occur in Britney’s life,” the statement said. 

Her rep added that her loved ones were putting together a plan to support her wellbeing going forward.

The mother-son time carries extra meaning given how difficult their relationship has been at times. 

Britney went close to three years without seeing Jayden, making the recent reconnection all the more significant to her. When he came back into her life in 2024, she was openly overwhelmed. 

“I’m in shock!!! He came back and he feels older and smarter than me!!!” she wrote at the time. “He’s a man and I cry everyday of my life because of the miracle and genius he is!!!”

Jayden, who had been living in Hawaii with his father Kevin Federline, has since moved back to Los Angeles to pursue music. 

He last appeared on Britney’s Instagram in early January, and the pair have spent the last two Christmases together. Britney also shares son Sean, 20, with Federline.





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Mentor calls Ryan Gosling to ‘Days of Our Lives’ set

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Mentor calls Ryan Gosling to ‘Days of Our Lives’ set


Mentor calls Ryan Gosling to ‘Days of Our Lives’ set

Ryan Gosling, the three-time Oscar-nominated actor has accepted an invitation to visit the set of Days of Our Lives after a heartfelt exchange with the show’s legendary star Deidre Hall that captured Hollywood’s attention this week.

It started when Gosling, appearing on the Happy Sad Confused podcast while promoting Project Hail Mary, spoke warmly about growing up watching the long-running soap and singled out Hall’s portrayal of Marlena Evans as formative viewing. 

He was particularly taken by the show’s possession storyline, and used the moment to make a broader point about how underappreciated soap actors are. 

“They do not get the love they deserve,” he said. 

“The amount they have to memorize the night before, like 10 pages of dialogue. They get one take, and it’s impossible scenarios.” 

Watching Hall move between playing an ordinary person and someone “possessed by the devil,” he added, was “an incredible acting class.”

Hall, who has played Marlena since 1976, responded with a video message thanking Gosling and inviting him to come and see the set for himself. 

“We’re just thrilled to be acknowledged and to be so well spoken of,” she said, sharing that the cast had watched Gosling’s comments together behind the scenes.

Gosling’s reply, posted to Eva Mendes and Project Hail Mary‘s Instagram accounts, left no room for ambiguity. 

“This is a very enthusiastic yes to a very cordial invitation,” he said. 

“I will be there to thank you in person… It wasn’t Marlon Brando. It wasn’t De Niro. It was you.” He also called Hall his “OG acting inspiration”, a line that, given the company it puts her in, is quite the tribute.

Project Hail Mary is currently in cinemas, with new episodes of Days of Our Lives streaming on Peacock.





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Backstreet Boys AJ McLean shows support to Britney Spears after DUI arrest

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Backstreet Boys AJ McLean shows support to Britney Spears after DUI arrest


AJ McLean stands by Britney Spears during tough time with legal trouble

AJ McLean is a friend Britney Spears can lean on during her tough time amid ongoing legal woes after her DUI arrest.

The Backstreet Boys member, 48, spoke in support of Spears during the iHeartRadio Music Awards 2026, as he revealed that they are also neighbours.

“We see each other every so often,” McLean said, adding, “live in the same neighborhood in the same area.”

The singer, who was nominated for the favourite onscreen category at the awards, noted that he “always just give[s] her a hug and check[s] on her” whenever he runs into the pop icon, in conversation with Page Six.

The Everybody hitmaker also added that he wishes “her the best,” without mentioning the arrest. When asked if he has spoken to her recently, he told the outlet that he hasn’t.

This comes after Spears was arrested in Ventura County, California earlier this month after she as caught swerving and speeding allegedly under the influence.

She was later released in the morning and her manager Cade Hudson released an official statement saying her actions were “inexcusable.”

While the Toxic songstress has not addressed the situation herself, an insider spilled that she is devastated and scared beyond measure for what the consequences would be.





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