Business
Remittances jump 11%, exceeding $23bn in seven months – SUCH TV
Overseas Pakistanis have expressed their confidence in the government by sending record remittances, contributing to a significant increase in foreign inflows.
According to the State Bank of Pakistan, remittances in the current fiscal year have risen by 11 percent.
In the first seven months of this fiscal year, Pakistan’s remittances have exceeded $23 billion, reaching $23.202 billion, the central bank reported.
In January 2026 alone, remittances amounted to $3.465 billion, reflecting a 15 percent year-on-year increase from $3 billion in January 2025.
Saudi Arabia emerged as the leading source of remittances, contributing $740 million in January 2026.
The United Arab Emirates followed closely with $694 million, while the United Kingdom sent $572 million, European countries $480 million, and the United States $295 million.
The growth in remittances during the current fiscal year indicates a continued trust of overseas Pakistanis in the country’s economic stability.
State Bank data shows that in the same seven-month period last fiscal year, remittances totaled $20.85 billion.
This year-on-year increase reflects both the resilience of the Pakistani diaspora and the government’s efforts to maintain stable economic policies.
The inflows are expected to play a crucial role in supporting Pakistan’s foreign exchange reserves and economic recovery.
Three-month waiver on bank guarantees, credit letters covers rice, seafood, pharmaceuticals among other commodities
Increased sourcing from the US reduces reliance on the Strait of Hormuz — a narrow maritime corridor through which a substantial proportion of global oil trade passes and which remains vulnerable to geopolitical tensions. Photo: Reuters
ISLAMABAD:
The Ministry of Commerce has approved a temporary exemption from financial instruments, including bank guarantees and letters of credit, for exports to Iran, the Central Asian Republics and Azerbaijan via Iran’s land route, it emerged on Saturday.
The development arose from a March 24 notification by the Ministry of Commerce received by The Express Tribune.
The exemption, issued under the Import and Export Control Act 1950, waived the requirement under Paragraph 3 of the Export Policy Order 2022, which mandates that all exports from Pakistan be made in compliance with Foreign Exchange Rules, regulations, and procedures notified by the State Bank of Pakistan (SBP).
The concession will remain effective for three months, from March 24 to June 21. The ministry stated that the federal government had taken the step to facilitate exporters and enhance regional trade.
Read: Local exports hit by ‘triple threat’
Under the exemption, rice may be exported to the Central Asian Republics and Azerbaijan through Iran’s land route. Exports of the following commodities to Iran via land route were also permitted: rice (milled), seafood, potatoes, meat, onions, maize, citrus, banana, tomato, frozen chicken, pharmaceuticals and tents.
However, the exemption from financial instruments, according to the notification, would be subject to the submission of an undertaking by the exporter that the export proceeds would be submitted within the stipulated time period.
Commerce Minister Jam Kamal Khan said Pakistan would now be able to export rice to Central Asia and Azerbaijan via Iran, adding that removing barriers to pharmaceutical exports was the government’s top priority.
He added that trade through Iran would significantly reduce exporters’ costs and time, and that increasing exports would steer the country towards economic stability.
Read More: Attack on Iran jolts Pakistan’s economy
The Ministry of Commerce said it was utilising all resources to enhance regional connectivity and increase trade volume, adding that the measure would strengthen trade links in the region.
A week ago, Pakistan’s Ambassador to Iran, Mudassir Tipu, said bilateral and transit trade between the two countries remained operational despite ongoing regional tensions.
The envoy expressed gratitude to the Iranian government for extending “full facilitation” to Pakistan’s trade, including transit trade through Iran during “challenging times”.
He added that land border crossings between Pakistan and Iran were functioning “optimally”, with green channels at multiple routes ensuring swift movement of goods on both sides. Further, Tipu said that Pakistan was extending maximum cooperation to Tehran to ensure trade flows remain unaffected by the evolving situation.
Business
Noida International Airport inauguration: Delhi-NCR gets new airport – all you need to know – The Times of India
NEW DELHI: Prime Minister Narendra Modi on Saturday inaugurated Phase I of the Noida International Airport at Jewar in Uttar Pradesh, marking a significant milestone in India’s expanding aviation infrastructure.PM Modi was accompanied by Uttar Pradesh chief minister Yogi Adityanath and Governor Anandiben Patel.
Developed at an investment of around Rs 11,200 crore under a Public–Private Partnership (PPP) model, the project is expected to enhance both regional and international connectivity for the National Capital Region (NCR).The airport is being positioned as a key addition to India’s aviation network, aimed at easing pressure on existing infrastructure while supporting the country’s ambition of becoming a global aviation hub.
Second international gateway for Delhi NCR
Noida International Airport has been developed as the second international gateway for Delhi NCR, complementing the existing Indira Gandhi International Airport, which currently handles the majority of the region’s air traffic.
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With rising passenger demand and capacity constraints at IGI Airport, the new facility is expected to play a crucial role in distributing traffic more efficiently.Together, the two airports will function as an integrated aviation system, helping reduce congestion, improve connectivity, and enhance the region’s standing among leading global aviation hubs.
Phase I capacity and future expansion plans
Phase I of the airport is designed to handle 12 million passengers per annum (MPPA), providing immediate relief to the region’s growing air travel demand.The project has been planned with scalability in mind, with provisions to expand capacity to 70 million passengers annually in subsequent phases. This long-term vision reflects the government’s strategy to future-proof infrastructure and accommodate sustained growth in air travel.
Modern infrastructure and all-weather operations
The airport features a 3,900-metre runway capable of handling wide-body aircraft, making it suitable for both domestic and international long-haul operations.
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Equipped with advanced navigation systems such as the Instrument Landing System (ILS) and modern airfield lighting, the facility is designed to support efficient, all-weather, round-the-clock operations. These features ensure operational reliability even under challenging weather conditions.
Cargo hub and logistics ecosystem
In addition to passenger services, the airport includes a comprehensive cargo ecosystem aimed at strengthening logistics and trade.The Multi-Modal Cargo Hub comprises an Integrated Cargo Terminal and dedicated logistics zones, with an initial handling capacity of over 2.5 lakh metric tonnes annually. This capacity is expected to expand significantly to around 18 lakh metric tonnes in the future, positioning the airport as a major cargo and logistics centre in North India.
Dedicated MRO facility to enhance efficiency
A key component of the airport’s infrastructure is a 40-acre Maintenance, Repair and Overhaul (MRO) facility.This dedicated facility is expected to improve operational efficiency by enabling airlines to service and maintain aircraft locally, reducing turnaround times and operational costs. It also strengthens India’s capabilities in aviation maintenance services.
Sustainability and future-ready design
Noida International Airport has been designed as a sustainable and future-ready infrastructure project, with a focus on achieving net-zero emissions.The project incorporates energy-efficient systems and environmentally responsible practices, aligning with India’s broader climate goals. The airport’s development reflects a growing emphasis on green infrastructure in large-scale projects.
Architecture inspired by Indian heritage
Blending modern infrastructure with cultural aesthetics, the airport’s architectural design draws inspiration from traditional Indian elements such as ghats and havelis.This approach aims to create a distinctive identity for the airport while offering passengers a sense of place rooted in Indian heritage.
Strategic location and multi-modal connectivity
Strategically located along the Yamuna Expressway in Gautam Buddha Nagar district, the airport is planned as a multi-modal transport hub.It will feature seamless integration with road, rail, metro and regional transit systems, ensuring smooth connectivity for passengers and cargo. This connectivity is expected to significantly improve accessibility for travellers across Delhi NCR and neighbouring regions.
Boost to India’s aviation ambitions
The inauguration of Phase I of Noida International Airport is being seen as a major step in strengthening India’s aviation ecosystem.By expanding capacity, improving connectivity, and integrating modern infrastructure with sustainability, the project is expected to play a key role in positioning Delhi NCR as a major global aviation hub while supporting economic growth and regional development
Business
Iran permits 2 Pakistani cargo ships to pass through Strait of Hormuz | The Express Tribune
Iran has permitted two Pakistani cargo ships to transit through the Strait of Hormuz, sources in the Ministry of Maritime Affairs confirmed on Saturday.
The vessels, Multan and P-Akili, which were previously held after Iranian forces took control of the strait — a key global oil supply route — have now crossed and are en route to Karachi. They are expected to dock at Karachi port on March 31, a source familiar with the matter said.
Multan is a general cargo ship, while P-Akili is carrying over 80 million litres of crude oil. Sources added that Iranian authorities not only allowed the vessels to pass but also provided an escort until they cleared the strait’s flashpoint line.
Read: Global poll says Iran war leaves US increasingly isolated internationally
This move comes amid ongoing mediation efforts by Islamabad, in coordination with Turkiye and Egypt, to curb the escalating conflict in the Middle East.
It is the second time Tehran has permitted a Pakistani ship to pass through the Strait of Hormuz since the conflict began on February 28. Previously, a Pakistani oil tanker transited the strait on March 16.
The Middle East region remains on high alert following the joint US-Israel offensive on Iran that began on February 28, which has resulted in over 1,900 deaths, including then-Supreme Leader Ali Khamenei.
Tehran has retaliated with drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf countries hosting US military assets, causing casualties, infrastructure damage, and disruption to global markets and aviation.
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