Saturday, May 23rd, 2026
Energy costs cripple Pakistan textile export competitiveness
FAISALABAD, MAY 23 /DNA/ – The increasing cost of production, heavy taxation, expensive energy prices, and severe liquidity crunch have badly affected the competitiveness of Pakistan’s textile exports in the international market. If immediate and effective measures are not taken, there is a serious risk of further decline in exports, industrial activities, and employment opportunities. These views were expressed by Ahmad Afzal Awan, S. Vice Chairman of the Pakistan Hosiery Manufacturers & Exporters Association (PHMA), while addressing a joint press conference held at PHMA House. The press conference was attendedRead More
Rubio says ‘chance’ of Iran accepting deal in coming days
WASHINGTON, MAY 23: US Secretary of State Marco Rubio said there was a chance Iran would accept a deal to end the Middle East war as soon as Saturday. His comments came as Pakistan’s powerful army chief arrived in Tehran to bolster mediation and US President Donald Trump abruptly skipped his son’s wedding to stay in Washington due to “circumstances pertaining to government,” fueling speculation that talks had entered a sensitive stage. Rubio said there had been progress in negotiations but did not rule out Trump resuming attacks on Iran.Read More
US, Iran close to agreeing on 60-day extension of ceasefire, gradual reopening of Hormuz – report
WASHINGTON, MAY 23: The United States and Iran are on the verge of agreeing to a 60-day extension of the current ceasefire agreement, during which most issues that arose during the negotiations would be addressed, The Financial Times reported on Saturday. The report notes that the terms of this deal would include the gradual reopening of the Strait of Hormuz, a key issue raised by both the US and Iran after each country imposed closures and blockades of the waterway. The report comes after the Pakistan Army Chief, Field MarshalRead More
Field Marshal Asim Munir concludes productive Iran visit for mediation
TEHRAN, MAY 23 /DNA/ – Field Marshal Syed Asim Munir, NI (M), HJ, COAS & CDF concluded a short but highly productive official visit to Iran. During the visit, the Field Marshal held high-level engagements with Iranian leadership as part of ongoing mediation efforts aimed at promoting de-escalation and constructive engagement, amidst the regional tensions that have simmered after the ceasefire on 8th April, 2026. The Field Marshal called on H.E. Dr. Masoud Pezeshkian, President of Iran, H.E. Mohammad Bagher Ghalibaf, Speaker of the Iranian Parliament, H.E. Abbas Araghchi, ForeignRead More
Prime Minister’s China Visit in a Changing Global Order
T.M. Awan Prime Minister Shehbaz Sharif’s upcoming visit to China comes at a moment when the global strategic landscape is rapidly shifting and regional uncertainty is deepening across multiple fronts. From rising tensions in the Middle East to intensifying great-power competition in Asia and continued instability in Afghanistan, the geopolitical environment surrounding Pakistan has become increasingly fragile. In such circumstances, Islamabad’s engagement with Beijing is no longer merely symbolic diplomacy. It is increasingly about economic survival, strategic positioning, and long-term regional relevance. The visit, scheduled as both countries mark 75Read More
Punjab announces three Eid-ul-Azha holidays
LAHORE, MAY 23: The Punjab government has announced four public holidays across the province on the occasion of Eid-ul-Azha. According to the notification, Eid holidays will be observed from May 26 to 28. The notification said holidays will be observed on Tuesday, Wednesday and Thursday for Eid-ul-Azha. Government offices and relevant institutions across Punjab will follow the announced holiday schedule. Earlier, the Khyber Pakhtunkhwa government announced four public holidays on the occasion of Eid-ul-Azha, with all government offices and institutions set to remain closed across the province. According to aRead More