Connect with us

Entertainment

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

Published

on

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.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entertainment

Lewis Pullman reveals unexpected move Mel Brooks made on ‘Spaceballs 2′

Published

on

Lewis Pullman reveals unexpected move Mel Brooks made on ‘Spaceballs 2′


Lewis Pullman makes shocking confession about Mel Brooks on ‘Spaceball 2′

Lewis Pullman, son of Bill Pullman the original Spaceballs star, made an unexpected admission about Mel Brooks.

Brooks is set to reprise his role as Yogurt and President Skroob, 40-years after the first film, meanwhile, Pullman will play a new role, Starbust, the son of Lone Starr and Queen Vespa.

In an interview on The View, the Testament of Ann Lee star was asked about wrapping up the production of Spaceballs 2.

“Spaceballs fans rejoiced when the legendary Mel Brooks announced that 40 years later, we’re finally getting Spaceballs 2,” asked the host Sara Haines adding, “Now, production is already wrapped. What was that like?”

The Thuderbolts actor confirmed that “we just wrapped last Tuesday” on production of the project.

When asked about meeting the legendry star, he admitted that, “Mel didn’t come out.”

“He’s a homebody, but he was definitely part of it. His spirit was there, he was part of the design of it,” Pullman replied.

He continued, “I still haven’t met him, but when he sent me the role, I got a voice note from him. I wish you could frame a voice note. I couldn’t believe it because I grew up watching that movie.”

Discussing about the significance of the film, Pullman added, “That was one of my dad’s movies I was allowed to watch growing up, and I remember seeing Star Wars, and I was like, ‘Why did they remake Spaceballs without all the jokes?'”

“The writing is so smart and so dumb at the same time in the best way,” he said of the sequel’s story. “It’s so intelligently designed!”

In addition to Brooks, Rick Moranis (Lord Dark Helmet), Daphne Zuniga (Queen Vespa) , George Wyner (Colonel Sandurz) and Bill Pullman (Lone Starr) will respire their roles. 

Meanwhile, Keke Palmer (Destiny), Josh Gad (role not revealed) and Anthony Carrigan (role not revealed) will be the new faces.

Spaceballs 2 will be released in 2027. 





Source link

Continue Reading

Entertainment

Chris Martin moves on from breakup headlines with wedding bliss

Published

on

Chris Martin moves on from breakup headlines with wedding bliss


Chris Martin celebrates special milestone with intimate performance

Chris Martin added music to the wedding bells in a surprise performance at a superfan’s wedding in Rugeley.

The 48-year-old musician was asked by the groom’s mother to send a video message congratulating the newlyweds, but the Coldplay frontman went an extra mile and attended the wedding himself.

The Yellow hitmaker surprised fans by playing the piano for the bride and groom’s first dance on Saturday night at Blithfield Lakeside Barns, in Staffordshire.

While the newlyweds were performing their first dance, Martin made a quiet entrance and began performing the song, All My Love.

Following the ceremony, Blithfield Lakeside Barns co-owner, Alex Brown, told StokeonTrentLive, that the Fix You singer was asked to send a message, but “Chris got back and said he could go one better.”

He went on to share that Martin said, “I’m free that night, so I’ll come and play the first dance. He didn’t want any introduction, so we said it was the first dance, and he walked in and performed. The bride and groom did know he was coming. It was kept as a surprise for the guests. I don’t think they realised it was him until the end.”

The venue officer heaped on praises for the award-winning singer to make the grand gesture for his fan, without taking away the spotlight from the couple.

This comes after Martin went viral for something quite the opposite, when he made headlines after exposing a couple who were cheating on their spouses earlier this year.





Source link

Continue Reading

Entertainment

Rob Reiner and wife found dead in their Los Angeles home: What to know

Published

on

Rob Reiner and wife found dead in their Los Angeles home: What to know


Hollywood director and actor Rob Reiner and his wife, Michele, were found dead inside their Los Angeles home on Sunday afternoon, sources told CBS News, in what police are investigating as an apparent homicide. 

“It is with profound sorrow that we announce the tragic passing of Michele and Rob Reiner. We are heartbroken by this sudden loss, and we ask for privacy during this unbelievably difficult time,” said Reiner’s family in a statement obtained by Variety.

Rob Reiner and wife Michele Singer Reiner at the Human Rights Campaign’s 2025 Los Angeles dinner on March 22, 2025.

Christopher Polk/Variety via Getty Images


Los Angeles police launch investigation

Los Angeles Police Department Robbery Homicide Division detectives were called to the couple’s Brentwood home at around 3:40 p.m. Sunday after learning that two people had been found dead. They responded to the property after being asked to by Los Angeles Fire Department crews, who were the first to be called to the scene. 

Reiner, 78, and his wife, Michele Singer Reiner, 68, were later identified as the victims, sources told CBS News. LAPD detectives still haven’t publicly identified the deceased or provided the circumstances surrounding their deaths.

During a news conference on Sunday night, LAPD Deputy Chief Allen Hamilton said that they had not identified a suspect “at this time.” Hamilton said they were “not seeking anyone as a suspect, or as a person of interest or in any other manner, and we will not be doing that until we conduct our investigation and move forward.”

Rob Reiner’s legendary life and career in Hollywood

Reiner first gained fame in the CBS sitcom “All in the Family,” in which he played Archie Bunker’s son-in-law Mike “Meathead” Stivic. He won two Emmys for the role before he went on to star in “Sleepless in Seattle,” “The Wolf of Wall Street,” “Everyone’s Hero” and “The First Wives Club.”

Reiner is highly regarded for directing multiple classic films, including “The Princess Bride,” “Misery,” “A Few Good Men,” “Stand By Me” and “When Harry Met Sally…” He also wrote and directed the mockumentary “This is Spinal Tap,” which was followed by a sequel, “Spinal Tap II: The End Continues,” which was released in September. 

Over the course of his six-decade career, Reiner was nominated for seven Primetime Emmy Awards, eight Golden Globes and one Academy Award. 

He is the son of Carl Reiner, the iconic comedian and actor who had a career spanning decades. Along with starring in films like “Oh God!,” “It’s a Mad, Mad, Mad, Mad World,” “Ocean’s Eleven” and its sequels, he is also the creator of the “Dick Van Dyke Show.” He died in 2020 at 98 years old

In 2017, Carl and Rob became the first father-son duo to be memorialized outside the TCL Chinese Theatre in Hollywood, when they left their handprints and footprints in the cement. 

Reiner married his wife, Michele, in 1989, after they met during the filming of “When Harry Met Sally…” In 2016, Reiner told the AV Club during an interview that meeting Michele led to him changing the end of the movie, in which Harry and Sally end up together.

Michele was a photographer who took the photo of President Trump that was used on the cover of his book “The Art of the Deal,” according to Variety.

They had three children together.

Reiner was previously married to the late director Penny Marshall, and is the adoptive father of her daughter, actress Tracy Reiner. 

Rob Reiner and Michelle Singer at “Spinal Tap II: The End Continues” Los Angeles Premiere held at The Egyptian Theatre on September 09, 2025 in Los Angeles, California.

Michael Buckner/Variety via Getty Images


Hollywood stars and politicians react

The family of Norman Lear, the legendary producer of “All in the Family” who died in 2023 at 101, shared a statement upon learning of the Reiners’ deaths. 

“The Lear Family is devastated by the deaths of Rob and Michele Reiner. Norman often referred to Rob as a son, and their close relationship was extraordinary, to us and the world,” the Lear Family statement said. “Norman would have wanted to remind us that Rob and Michele spent every breath trying to make this country a better place, and they pursued that through their art, their activism, their philanthropy, and their love for family and friends.”

Former President Barack Obama posted on X, noting that he and his wife, Michelle, were “heartbroken by the tragic passing.” 

“Rob’s achievements in film and television gave us some of our most cherished stories on screen. But beneath all of the stories he produced was a deep belief in the goodness of people—and a lifelong commitment to putting that belief into action,” the post said. “Together, he and his wife lived lives defined by purpose. They will be remembered for the values they championed and the countless people they inspired. We send our deepest condolences to all who loved them.”

Actor Sean Astin, the newly elected president of the Screen Actors’ Guild, called Rob Reiner “one of those most significant figures in the history of film and television.” He said Reiner’s impact on American culture “simply can’t be overstated.”  

California Gov. Gavin Newsom issued a statement on behalf of himself and his wife, Jennifer Siebel Newsom, saying that they are “heartbroken by the tragic loss of Rob Reiner and Michele Singer Reiner.”

“Rob was the big-hearted genius behind so many of the classic stories we love, with projects as wide-ranging as ‘The Princess Bride’ to ‘A Few Good Men,'” Newsom said. “His boundless empathy made his stories timeless, teaching generations how to see goodness and righteousness in others – and encouraging us to dream bigger.”

Los Angeles Mayor Karen Bass said in a statement that, “This is a devastating loss for our city and country. Rob Reiner’s contributions reverberate throughout American culture and society, and he has improved countless lives through his creative work and advocacy fighting for social and economic justice. An acclaimed actor, director, producer, writer, and engaged political activist, he always used his gifts in service of others.” 

A statement from former House Speaker and current Rep. Nancy Pelosi called the news “devastating.”

“It’s hard to think of anyone more remarkable and excellent in every field and endeavor they pursued. Rob was creative, funny, and beloved. And in all of their endeavors, Michelle was his indispensable partner, intellectual resource, and loving wife,” said her post on X. 



Source link

Continue Reading

Trending