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ISLAMABAD — Gold prices have surged by Rs2,400 per tola in Pakistan’s local markets as of Saturday, reflecting significant movements in both domestic and international markets. This increase marks a continued trend of rising gold prices, influenced by global economic factors and local demand. What Happened On Saturday, gold prices in Pakistan experienced a notable rise, with the cost per tola increasing by Rs2,400. This adjustment in price aligns with fluctuations seen in international gold markets, where economic uncertainties and currency valuations have played a crucial role in driving up the demand for the precious metal. The local bullion markets in major cities such as Karachi, Lahore, and Islamabad reported the new price, adjusting to the global market trends. According to market analysts, the increase in gold prices is attributed to several factors, including inflationary pressures and changes in the international currency exchange rates. The weakening of the Pakistani rupee against the US dollar has further exacerbated the price hike, as gold is traded globally in dollars. “The current economic climate, coupled with geopolitical tensions, has led investors to seek refuge in gold, which is traditionally seen as a safe-haven asset,” said a local market expert. In addition to the international influences, local demand has also contributed to the price rise. With the wedding season underway in Pakistan, there is a heightened demand for gold jewelry, which traditionally sees increased purchases during this period. This seasonal demand has compounded the effects of the global market trends, pushing prices higher. Background Gold has long been a preferred investment in Pakistan, serving as a hedge against inflation and currency devaluation. Historically, gold prices have been influenced by a combination of global market dynamics and local economic conditions. In recent years, the volatility in the international markets, particularly due to economic policies in major economies like the United States and China, has had a direct impact on gold prices in Pakistan. The State Bank of Pakistan’s monetary policies, aimed at stabilizing the national currency and controlling inflation, also play a role in determining the local gold prices. However, external factors such as global economic slowdowns or accelerated growth can often override local monetary measures, leading to fluctuations in gold prices. Why It Matters The surge in gold prices holds significant implications for various sectors of the Pakistani economy. For consumers, especially those planning weddings or other events requiring substantial gold purchases, the increased prices could lead to higher expenses. This might result in reduced spending in other areas, affecting overall consumer spending patterns. For investors, the rising gold prices could present an opportunity to capitalize on the precious metal’s value as a stable investment. As economic uncertainties continue to loom globally, gold remains an attractive option for those looking to preserve wealth. This trend could lead to increased investment in gold, both in physical form and through financial instruments like gold certificates and exchange-traded funds (ETFs). On a broader scale, the rising gold prices reflect underlying economic challenges, such as inflation and currency devaluation, that Pakistan continues to face. These challenges necessitate careful economic planning and policy adjustments to stabilize the currency and manage inflation, ensuring sustainable economic growth. Key Takeaways Gold prices in Pakistan have increased by Rs2,400 per tola as of Saturday. The price surge is influenced by global economic factors and local demand, particularly during the wedding season. The weakening of the Pakistani rupee against the US dollar has contributed to the rise in gold prices. Rising gold prices impact consumer spending and present investment opportunities in the precious metal. Economic challenges such as inflation and currency devaluation continue to affect Pakistan’s economy. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

NEW YORK — Chairman of the Prime Minister’s Youth Programme, Rana Mashood Ahmed Khan, addressed a United Nations event on Wednesday, emphasizing the role of football in promoting mental health and well-being among youth. The event, titled “One World, One Game, One Goal: Football as a Catalyst for Youth Mental Health and Wellbeing,” brought together global leaders to discuss sports as a tool for positive youth development. What Happened At the United Nations headquarters in New York, Rana Mashood Ahmed Khan spoke at a high-profile event dedicated to exploring how football can be leveraged to enhance the mental health and well-being of young people worldwide. The session, part of a broader initiative by the UN to integrate sports into youth development programs, highlighted the potential of football to foster resilience, teamwork, and a sense of community among young people. Khan underscored the importance of sports, particularly football, in building mental resilience and promoting physical health. “Football is more than just a game; it is a powerful tool for social change and personal development,” he stated. He noted that engaging in sports can significantly reduce stress and anxiety levels among youth, thereby improving their overall mental health. The event featured various speakers from different sectors, including health professionals, sports organizations, and youth representatives, all advocating for increased investment in sports infrastructure and programs. Khan called on governments and international bodies to prioritize sports as a key component of youth development strategies. Background The United Nations has long recognized the potential of sports as a vehicle for promoting peace, development, and human rights. The UN Office on Sport for Development and Peace (UNOSDP) has been instrumental in advocating for the inclusion of sports in development agendas. Football, as the world’s most popular sport, has been at the forefront of these initiatives due to its widespread appeal and ability to engage diverse populations. In Pakistan, the Prime Minister’s Youth Programme has been actively involved in promoting sports as a means to empower young people. The program aims to provide opportunities for youth to participate in sports, thereby enhancing their physical and mental well-being. Rana Mashood Ahmed Khan, as chairman, has been pivotal in driving these efforts forward. Why It Matters The emphasis on football as a catalyst for youth mental health is particularly significant in the context of rising mental health challenges among young people globally. The World Health Organization (WHO) reports that mental health conditions account for a substantial proportion of the global burden of disease among adolescents. By integrating sports into mental health strategies, there is potential for a holistic approach that addresses both physical and psychological well-being. For Pakistan, where youth make up a significant portion of the population, such initiatives are crucial. Engaging young people in sports can help mitigate issues such as unemployment, social isolation, and mental health disorders. It also aligns with broader national goals of fostering a healthy, active, and socially responsible youth demographic. Internationally, the UN event serves as a platform to share best practices and foster collaboration among countries. By participating in such forums, Pakistan can both contribute to and benefit from global knowledge and resources aimed at enhancing youth development through sports. Key Takeaways Rana Mashood Ahmed Khan addressed a UN event on football’s role in youth mental health. The event highlighted football as a tool for building resilience and community among youth. The UN has long advocated for sports as a means of promoting peace and development. Pakistan’s Prime Minister’s Youth Programme actively promotes sports for youth empowerment. Engaging youth in sports can help address mental health challenges and social issues. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: Press Release from Government of Pakistan This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

UNITED NATIONS — On July 18, United Nations Secretary-General Antonio Guterres issued a compelling call to action on Nelson Mandela International Day, urging the global community to intensify efforts to eradicate poverty and combat systemic inequality. Guterres emphasized that the responsibility to tackle these pressing issues remains within our grasp. What Happened In a message delivered on Mandela Day, which commemorates the legacy of Nelson Mandela, the first democratically elected President of South Africa, UN Secretary-General Antonio Guterres highlighted the urgent need to address poverty and inequality worldwide. Guterres stated, “Ending poverty is not merely charity, but a matter of justice and human rights.” He underscored the importance of collective action to dismantle systemic barriers that perpetuate poverty and inequality. Guterres’ message comes at a time when the world is grappling with the socio-economic impacts of the COVID-19 pandemic, which has exacerbated existing inequalities and pushed millions into extreme poverty. The UN chief called for renewed commitment from all sectors of society, including governments, civil society, and the private sector, to work collaboratively towards sustainable development goals. The Secretary-General also paid tribute to Nelson Mandela’s enduring legacy, noting that Mandela’s fight against apartheid and his dedication to justice and equality continue to inspire global efforts to create a more equitable world. Guterres encouraged individuals and communities to reflect on Mandela’s values and to take concrete actions that contribute to poverty eradication and social justice. Background Nelson Mandela International Day, observed annually on July 18, was established by the United Nations in 2009 to honor Mandela’s contributions to peace and freedom. The day serves as a global call to action, encouraging individuals to dedicate 67 minutes of their time to volunteerism and community service, reflecting the 67 years Mandela spent fighting for social justice. The UN’s Sustainable Development Goals (SDGs), adopted in 2015, include the eradication of poverty as a primary objective. Goal 1 of the SDGs aims to end poverty in all its forms everywhere by 2030. Despite progress in some areas, the COVID-19 pandemic has reversed years of advancements, with an estimated 120 million people pushed back into extreme poverty in 2020 alone. Why It Matters The call to eradicate poverty holds significant implications for global economic stability and social cohesion. Poverty is a root cause of many societal issues, including poor health outcomes, limited educational opportunities, and heightened vulnerability to conflict and displacement. Addressing poverty is crucial for achieving sustainable development and ensuring that all individuals have the opportunity to lead dignified lives. In Pakistan, poverty remains a critical challenge. According to the World Bank, approximately 24.3% of Pakistan’s population lived below the national poverty line in 2015, and the economic disruptions caused by the pandemic have likely worsened this situation. Efforts to eradicate poverty in Pakistan are essential for improving the quality of life for millions and fostering economic growth. Internationally, Guterres’ call to action aligns with broader efforts to address inequality and promote social justice. The UN’s emphasis on poverty eradication highlights the interconnectedness of global challenges and the need for comprehensive strategies that address the root causes of inequality. Key Takeaways UN Secretary-General Antonio Guterres calls for global action to eradicate poverty on Mandela Day. Guterres emphasizes that ending poverty is a matter of justice and human rights. The COVID-19 pandemic has exacerbated global poverty and inequality. Nelson Mandela International Day encourages community service and reflection on Mandela’s legacy. Poverty eradication is crucial for sustainable development and social justice. Source Attribution This article is based on official statements from the United Nations and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

LAHORE — Usama Butt, a promising Mas-Wrestling athlete from Gujranwala, Pakistan, has added to his accolades by clinching a bronze medal at the ARA Festival Mas-Wrestling Championship in Mongolia. The event, which concluded on July 17, saw Butt competing against some of the world’s elite Mas-Wrestlers, including top-ranked competitors from Russia and the host nation, Mongolia. What Happened Usama Butt’s performance at the ARA Festival was a testament to his skill and determination. The championship, held annually, attracts top Mas-Wrestlers from around the globe. This year, the competition was particularly fierce, with athletes from more than 20 countries participating. Butt’s journey to the podium was marked by intense matches, where he showcased his strength and strategic prowess. In the preliminary rounds, Butt faced off against competitors from Kazakhstan and Uzbekistan, securing victories that propelled him into the semi-finals. Although he narrowly missed advancing to the finals after a closely contested match against a Russian athlete, Butt’s efforts earned him a well-deserved bronze medal. “It was a challenging competition, and I am proud to have represented Pakistan and secured a medal,” Butt stated. The ARA Festival is renowned for its high level of competition, and Butt’s achievement is a significant milestone in his career. His success not only highlights his personal dedication but also brings attention to the sport of Mas-Wrestling in Pakistan, which is gradually gaining popularity. Background Mas-Wrestling, a traditional sport originating from Yakutia, Russia, involves two competitors pulling on a stick while sitting opposite each other, with the goal of overpowering the opponent. It is a test of strength, technique, and endurance. The sport has gained international recognition and is now practiced in various countries, including Pakistan. Usama Butt has been a prominent figure in Pakistan’s Mas-Wrestling scene. He has previously competed in international tournaments, earning accolades and establishing himself as a formidable competitor. The ARA Festival, held in Mongolia, is one of the premier events in the Mas-Wrestling calendar, attracting top athletes and providing a platform for showcasing talent on a global stage. Why It Matters Usama Butt’s achievement at the ARA Festival holds significant implications for the sport and for Pakistan. Firstly, it underscores the growing talent pool in Pakistan’s Mas-Wrestling community, which has been steadily developing over recent years. Butt’s success serves as an inspiration for aspiring athletes in the country, highlighting the potential for international recognition in this niche sport. Economically, such achievements can lead to increased investment and support for Mas-Wrestling in Pakistan. With more athletes gaining international exposure, there is potential for enhanced sponsorship opportunities and funding, which can further develop the sport at the grassroots level. This, in turn, can contribute to the broader sports culture in Pakistan, encouraging youth participation and diversification of sports. On an international level, Butt’s success at the ARA Festival places Pakistan on the map in the Mas-Wrestling community. It fosters international sports relations and opens avenues for future collaborations and exchanges. Such achievements can also enhance Pakistan’s reputation in the global sports arena, showcasing the country’s diverse athletic talent. Key Takeaways Usama Butt won a bronze medal at the ARA Festival Mas-Wrestling Championship in Mongolia. The competition featured athletes from over 20 countries, including top-ranked wrestlers from Russia and Mongolia. Butt’s success highlights the growing prominence of Mas-Wrestling in Pakistan. The achievement could lead to increased investment and support for the sport in Pakistan. Butt’s performance enhances Pakistan’s reputation in the international sports community. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

ISLAMABAD — Federal Minister for the Board of Investment (BOI), Qaiser Ahmed Sheikh, convened with a high-level delegation from the Shandong Hi-Speed Group (SDHS) on the sidelines of the Pakistan–China B2B Conference at the Marriott Hotel in Islamabad. The meeting, which took place on Wednesday, aimed to strengthen economic ties and explore investment opportunities between Pakistan and China. What Happened The meeting was attended by Mr. Xu Xiang, Chairman of SDHS, along with Mr. Wang Zhenrong, Country Director, and representatives from the Tabani Group. Discussions centered around potential collaborations in infrastructure development and investment projects in Pakistan. The SDHS delegation expressed keen interest in exploring opportunities in Pakistan’s infrastructure sector, particularly in road construction and energy projects. Minister Qaiser Ahmed Sheikh highlighted Pakistan’s strategic location and its potential as a gateway for Chinese investments into South Asia and the Middle East. He stated, “Pakistan offers a conducive environment for foreign investors with its pro-business policies and strategic partnerships.” The minister also emphasized the government’s commitment to facilitating Chinese businesses and ensuring a seamless investment process. Mr. Xu Xiang, reflecting on the discussions, noted the promising investment landscape in Pakistan and the mutual benefits of strengthening economic cooperation. He remarked, “We see significant potential in Pakistan’s infrastructure sector and are eager to explore collaborative ventures that can contribute to the country’s economic growth.” The meeting concluded with both parties agreeing to continue dialogue and explore specific projects for potential collaboration. Background The Pakistan–China B2B Conference serves as a platform to enhance bilateral trade and investment relations between the two countries. Historically, China has been a significant economic partner for Pakistan, with both nations sharing a robust trade relationship. The China-Pakistan Economic Corridor (CPEC), a flagship project under China’s Belt and Road Initiative, has been pivotal in fostering economic connectivity and development in the region. The Shandong Hi-Speed Group is a prominent Chinese state-owned enterprise with extensive experience in infrastructure development, including highways, bridges, and energy projects. The group’s interest in Pakistan aligns with the broader objectives of CPEC, aiming to enhance infrastructure and energy capabilities in Pakistan. Why It Matters The engagement between the BOI and SDHS is significant for several reasons. Economically, it underscores Pakistan’s ongoing efforts to attract foreign investment and boost its infrastructure sector, which is crucial for economic development and job creation. The potential collaboration with SDHS could lead to substantial investments in infrastructure, enhancing connectivity and supporting Pakistan’s economic growth trajectory. Socially, improved infrastructure can lead to better access to services, reduced travel times, and enhanced quality of life for citizens. Politically, strengthening ties with China, a longstanding ally, reinforces Pakistan’s strategic partnerships and enhances its geopolitical standing in the region. This meeting also reflects Pakistan’s commitment to leveraging its strategic location to become a hub for regional trade and investment. Internationally, the collaboration aligns with China’s Belt and Road Initiative, promoting regional connectivity and economic integration. For Pakistan, successful partnerships with Chinese enterprises can attract further international investment, showcasing the country’s potential as a viable investment destination. Key Takeaways BOI Minister Qaiser Ahmed Sheikh met with SDHS to discuss investment opportunities in Pakistan. The meeting focused on infrastructure development, particularly in road construction and energy projects. Pakistan’s strategic location and pro-business policies were highlighted as advantages for Chinese investors. The engagement aligns with the objectives of CPEC and China’s Belt and Road Initiative. Strengthening economic ties with China is crucial for Pakistan’s economic growth and regional connectivity. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: Press Release from Government of Pakistan This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

ISLAMABAD — Federal Minister for National Health Services, Regulations and Coordination Syed Mustafa Kamal on Saturday commended the successful conclusion of the Pakistan–China Pharmaceutical & Healthcare B2B Investment Conference 2026. The conference, held in Islamabad, is expected to result in agreements worth approximately $850 million, including 16 formal agreements and 80 Memoranda of Understanding (MoUs). What Happened The Pakistan–China Pharmaceutical & Healthcare B2B Investment Conference 2026 brought together key stakeholders from both nations to explore collaborative opportunities in the pharmaceutical and healthcare sectors. The event, which took place in Islamabad, saw the participation of industry leaders, government officials, and business representatives aiming to strengthen bilateral ties and foster economic growth. Minister Syed Mustafa Kamal expressed optimism about the outcomes of the conference, highlighting the potential for substantial foreign investment and technological advancement in Pakistan’s healthcare sector. “The agreements and MoUs signed during the conference signify a major step forward in our bilateral relations with China, particularly in the healthcare and pharmaceutical industries,” Kamal stated. The conference facilitated discussions on various topics, including joint ventures, technology transfer, and capacity building. The agreements are expected to enhance Pakistan’s pharmaceutical manufacturing capabilities and improve healthcare infrastructure, ultimately benefiting the country’s healthcare system and its citizens. Background Pakistan and China have a longstanding history of economic and strategic cooperation, often referred to as an “all-weather” partnership. The two countries have collaborated on numerous projects under the China-Pakistan Economic Corridor (CPEC), a flagship initiative of China’s Belt and Road Initiative (BRI). This conference is a continuation of efforts to deepen economic ties and expand cooperation into new sectors such as healthcare and pharmaceuticals. In recent years, Pakistan has been focusing on enhancing its healthcare infrastructure and pharmaceutical industry to meet the growing demands of its population. The government has introduced various policies to attract foreign investment and foster innovation in these sectors, recognizing their critical role in national development. Why It Matters The agreements reached at the conference are significant for several reasons. Economically, the expected $850 million investment will provide a substantial boost to Pakistan’s healthcare and pharmaceutical sectors, creating jobs and fostering technological advancements. This influx of capital and expertise is crucial for addressing the country’s healthcare challenges and improving access to quality medical services. Socially, the collaboration with China is likely to lead to improved healthcare outcomes for Pakistani citizens. The transfer of technology and knowledge from Chinese partners can enhance local manufacturing capabilities, reduce reliance on imports, and make essential medicines more affordable and accessible. Politically, the conference underscores the strength of Pakistan-China relations and their commitment to expanding cooperation beyond traditional areas such as infrastructure and energy. By diversifying their partnership to include healthcare and pharmaceuticals, both countries are demonstrating a shared vision for sustainable development and mutual prosperity. Internationally, this development positions Pakistan as a more attractive destination for foreign investment in the healthcare sector, potentially encouraging other countries to explore similar partnerships. It also aligns with global trends of increasing collaboration in healthcare innovation and pharmaceutical research, further integrating Pakistan into the international economic landscape. Key Takeaways The Pakistan–China Pharmaceutical & Healthcare B2B Investment Conference 2026 resulted in $850 million in expected agreements. 16 formal agreements and 80 MoUs were signed, focusing on enhancing Pakistan’s healthcare and pharmaceutical sectors. The conference is part of ongoing efforts to strengthen Pakistan-China economic and strategic ties. The investment is expected to boost local manufacturing capabilities and improve healthcare access in Pakistan. This development highlights the diversification of Pakistan-China relations into new sectors beyond traditional areas. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: Press Release from Government of Pakistan This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

BEIJING — Representatives from Shihezi University’s College of Life Sciences and the University of Haripur recently convened at a symposium focused on microbiomics, revealing plans for joint academic initiatives. The event underscored the deepening academic collaboration between China and Pakistan, particularly in the field of microbial research. What Happened The symposium, held in Beijing, brought together experts from both universities to discuss advancements in microbiomics and explore potential areas for joint research. Professor Syeda Asma Bano of the University of Haripur presented her team’s recent breakthroughs in molecular plant pathology, biocontrol, and the use of beneficial microbes to combat soil-borne crop diseases. Her insights were complemented by Professor Sun Yanfei from Shihezi University, who shared findings on plant-microbe interaction mechanisms and the functional analysis of rhizobacteria. The collaboration aims to leverage the strengths of both institutions in arid-region microbiology and molecular biology. Planned initiatives include the application for joint international research grants, the establishment of joint postgraduate training programs, and the facilitation of academic exchanges. These efforts are intended to foster practical cooperation and advance scientific understanding in these critical areas. As part of the broader China-Pakistan Economic Corridor (CPEC) initiative, this academic partnership is seen as a reflection of the growing ties between the two nations. Shihezi University has already established extensive partnerships with Pakistani institutions such as the University of Haripur and PMAS-Arid Agriculture University, covering a range of disciplines including life sciences, information technology, agriculture, and basic sciences. These collaborations encompass joint research projects, faculty and student exchanges, joint graduate programs, and the co-construction of laboratories. Background The China-Pakistan Economic Corridor (CPEC) is a significant component of China’s Belt and Road Initiative, aimed at enhancing regional connectivity and economic integration. As CPEC enters its second phase, there is an increased focus on socio-economic development, including education and scientific research. The collaboration between Shihezi University and the University of Haripur is part of this broader strategy to enhance academic ties and foster innovation. Historically, China and Pakistan have maintained strong bilateral relations, with academic and scientific cooperation playing an increasingly important role. The partnership between these universities is a continuation of this trend, aiming to address common challenges in agriculture and environmental sustainability through advanced research and technology. Why It Matters The expansion of microbial research cooperation between China and Pakistan holds significant implications for both countries. For Pakistan, advancements in microbiomics and related fields can lead to improved agricultural practices, increased crop yields, and enhanced food security. This is particularly important given the challenges posed by climate change and the need for sustainable agricultural practices. Economically, the collaboration can open new avenues for research funding and international partnerships, boosting the capabilities of Pakistani institutions and contributing to the country’s scientific and technological development. The joint initiatives also provide opportunities for capacity building, with Pakistani researchers and students gaining access to advanced training and resources. On a broader scale, the collaboration strengthens the academic and cultural ties between China and Pakistan, fostering mutual understanding and cooperation. This partnership not only contributes to the scientific community but also enhances the strategic relationship between the two nations, supporting their shared goals of regional stability and development. Key Takeaways China and Pakistan are expanding their academic collaboration in microbial research, focusing on microbiomics. The partnership includes joint research initiatives, postgraduate training programs, and academic exchanges. This collaboration is part of the broader CPEC initiative, emphasizing socio-economic development. Advancements in microbial research can significantly impact agriculture and food security in Pakistan. The partnership enhances bilateral ties and supports regional stability and development goals. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

LAHORE — Gold prices in Pakistan experienced a significant drop as the international bullion market witnessed a decline, resulting in a substantial decrease in the prices of both gold and silver locally. On July 17, the price of gold per tola in the local market fell by Rs3,600 to Rs421,836, reflecting the global market trends. What Happened The international bullion market saw a sharp decline in gold prices, with the price per ounce falling by $36 to $3,994. This decrease in the global market had a direct impact on the local bullion market in Pakistan. As a result, the price of gold per tola dropped by Rs3,600, settling at Rs421,836. Similarly, the price for 10 grams of gold fell by Rs3,086, bringing it down to Rs361,656. Silver prices were not immune to this trend, as they also experienced a decline. The price of silver per tola decreased by Rs126, reaching Rs6,029, while the price for 10 grams of silver fell by Rs108 to Rs5,168. This trend reflects the interconnected nature of global and local markets, where changes in international prices have immediate effects on domestic markets. Background Gold and silver prices are influenced by a variety of factors, including global economic conditions, currency fluctuations, and investor sentiment. Historically, precious metals have been viewed as safe-haven assets, particularly during times of economic uncertainty. However, fluctuations in the global market can lead to significant changes in prices, affecting local markets as well. In recent years, the global bullion market has experienced volatility due to various factors such as geopolitical tensions, changes in monetary policies by major economies, and fluctuations in the value of the US dollar. These factors contribute to the dynamic nature of gold and silver prices, impacting both international and local markets. Why It Matters The decline in gold prices holds significant implications for various stakeholders in Pakistan. For investors and traders in the bullion market, this drop represents a potential opportunity to purchase gold at lower prices. However, it also poses challenges for those who have invested in gold as a hedge against inflation or economic instability. For the general public, changes in gold prices can affect consumer behavior, particularly in a country like Pakistan where gold is often purchased for weddings and other cultural events. A decrease in prices may encourage more purchases, while an increase could lead to reduced consumer spending on gold. Economically, the fluctuation in gold prices can impact the country’s trade balance. Pakistan, being an importer of gold, may benefit from lower prices in terms of reduced import costs. However, it also means that local jewelers and traders may face reduced margins, affecting their profitability. On a broader scale, the changes in gold prices can reflect underlying economic conditions, both globally and locally. A decline may indicate a stronger US dollar or changing investor sentiment, which can have ripple effects on other aspects of the economy, including currency exchange rates and stock market performance. Key Takeaways Gold prices in Pakistan dropped by Rs3,600 per tola, influenced by a $36 decline per ounce in the international market. The price of 10 grams of gold fell by Rs3,086, while silver prices also decreased, with a Rs126 drop per tola. Fluctuations in global bullion prices directly impact local markets, affecting investors, traders, and consumers. The decline in prices may offer buying opportunities but also poses challenges for those relying on gold as a stable investment. Changes in gold prices can have broader economic implications, influencing trade balances and reflecting global economic conditions. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 18, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

ISLAMABAD — Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, conducted a meeting on Friday to assess the progress and operational readiness of the Federal Board of Revenue’s (FBR) National Faceless Centre. This initiative is a pivotal component of the new Tax Operating Model, designed to create a technology-driven, centralized, and transparent tax administration framework. What Happened During the meeting held in Islamabad, Finance Minister Muhammad Aurangzeb reviewed the implementation roadmap of the National Faceless Centre, which aims to enhance the efficiency and transparency of Pakistan’s tax system. The centre is part of a broader strategy to modernize tax administration through digital means, reducing human interaction and thereby minimizing opportunities for corruption and inefficiency. The National Faceless Centre is expected to streamline tax processes by leveraging technology to handle tax assessments and audits without the need for physical presence. This approach is intended to foster a more taxpayer-friendly environment, encouraging compliance and broadening the tax base. Minister Aurangzeb emphasized the need for timely execution of the project, highlighting its importance in improving revenue collection and accountability. He stated, “The National Faceless Centre is a cornerstone of our efforts to reform the tax system. Its successful implementation will be a significant step towards a transparent and efficient tax administration.” The meeting also involved discussions on potential challenges and strategies to overcome them, ensuring that the centre becomes fully operational within the stipulated timeframe. Key stakeholders from the FBR and the Ministry of Finance participated in the discussions, providing insights and updates on the ongoing developments. Background The establishment of the National Faceless Centre is part of a series of reforms initiated by the Pakistani government to modernize its tax administration. Historically, the tax system in Pakistan has faced challenges such as low compliance rates, tax evasion, and a narrow tax base. These issues have been exacerbated by bureaucratic inefficiencies and a lack of transparency. In recent years, the government has undertaken several initiatives to address these problems, including the introduction of technology in tax processes. The National Faceless Centre represents a significant shift towards a digital tax ecosystem, aligning with global trends where countries are increasingly adopting technology to enhance tax administration and compliance. Why It Matters The successful implementation of the National Faceless Centre holds considerable significance for Pakistan’s economic landscape. By reducing human intervention in tax processes, the centre aims to minimize corruption and increase efficiency, which are critical factors for improving the country’s revenue collection. Economically, a more efficient tax system can lead to increased government revenues, providing the necessary funds for public services and infrastructure development. This is particularly important for Pakistan, where fiscal deficits have been a persistent challenge, impacting economic growth and stability. Socially, the move towards a faceless tax system can enhance trust between taxpayers and the government. By ensuring transparency and reducing opportunities for corruption, the initiative can encourage more individuals and businesses to comply with tax regulations, thereby broadening the tax base and distributing the tax burden more equitably. Politically, the reform aligns with the government’s broader agenda of digital transformation and good governance. It reflects a commitment to improving public sector efficiency and accountability, which can strengthen public confidence in governmental institutions. Key Takeaways The National Faceless Centre is part of Pakistan’s effort to modernize its tax system through digital transformation. Finance Minister Aurangzeb emphasized the importance of timely implementation to enhance transparency and efficiency. The initiative aims to reduce human interaction in tax processes, minimizing corruption and inefficiencies. Successful implementation can increase government revenues, aiding in economic stability and growth. The reform aligns with global trends towards digital tax administration, promoting compliance and broadening the tax base. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 17, 2026  |  Source: Press Release from Federal Board of Revenue (FBR) This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.

KARACHI — The Exchange Rates Committee of the Financial Markets Association of Pakistan has issued its latest bulletin on foreign exchange rates, effective July 17, 2026. The bulletin provides critical data for financial institutions and businesses engaged in international trade and finance. What Happened On July 17, 2026, the Exchange Rates Committee released the latest conversion rates for foreign currency, applicable for forward cover for deposits, excluding FE-25 deposits. These rates are crucial for financial planning and transactions involving foreign currencies. The State Bank of Pakistan (SBP) has set the settlement value date for these rates as July 21, 2026. The rates announced are as follows: the US dollar (USD) is pegged at 277.9464 Pakistani rupees, the British pound (GBP) at 375.8391 rupees, the euro (EUR) at 318.6377 rupees, and the Japanese yen (JPY) at 1.7144 rupees. These rates are significant for businesses and individuals involved in foreign exchange transactions, impacting importers, exporters, and investors alike. According to the Financial Markets Association, these rates are determined based on current market conditions and are subject to fluctuations influenced by various economic factors, including international trade dynamics, geopolitical developments, and monetary policy decisions. Background Foreign exchange rates are a critical component of the global financial system. They determine the relative value of currencies and influence international trade and investment flows. In Pakistan, the Financial Markets Association plays a pivotal role in setting these rates, providing a standardized reference for financial institutions and businesses. The State Bank of Pakistan, as the central bank, oversees the country’s monetary policy and foreign exchange regulations. The SBP’s involvement ensures that exchange rates are aligned with broader economic goals, such as controlling inflation and maintaining financial stability. Historically, Pakistan’s exchange rates have been influenced by factors such as trade deficits, foreign direct investment, remittances, and global economic conditions. The country’s exchange rate policy has evolved over time, moving from a fixed exchange rate system to a more market-driven approach. Why It Matters The release of exchange rates by the Financial Markets Association is of paramount importance for Pakistan’s economy. Accurate and timely exchange rate information is essential for businesses engaged in international trade, as it affects pricing, profitability, and competitiveness. Importers and exporters rely on these rates to make informed decisions about purchasing and selling goods and services across borders. For the financial sector, exchange rates impact the valuation of foreign currency-denominated assets and liabilities. Banks and financial institutions use these rates to manage foreign exchange risk, ensuring that their portfolios remain balanced and aligned with market conditions. On a macroeconomic level, exchange rates influence inflation, interest rates, and economic growth. A stable exchange rate environment can foster investor confidence, attract foreign investment, and support sustainable economic development. Conversely, volatile exchange rates can lead to economic uncertainty and pose challenges for policymakers. Internationally, Pakistan’s exchange rates affect its trade relationships and competitiveness in the global market. A favorable exchange rate can enhance the country’s export potential, while an unfavorable rate may increase the cost of imports, impacting domestic prices and inflation. Key Takeaways The Financial Markets Association of Pakistan released the latest exchange rates for July 17, 2026. Rates include USD at 277.9464 PKR, GBP at 375.8391 PKR, EUR at 318.6377 PKR, and JPY at 1.7144 PKR. The State Bank of Pakistan’s settlement value date is set for July 21, 2026. Exchange rates are crucial for international trade, financial planning, and economic stability. Volatile exchange rates can impact inflation, interest rates, and investor confidence. Source Attribution This article is based on official government statements, press releases, and public communications from relevant authorities. Author: NEN Editorial Desk | Editor: NEN Newsroom | Fact Checked By: NEN Editorial Team Author: NEN Editorial Desk  |  Editor: NEN Newsroom  |  Last Updated: July 17, 2026  |  Source: NEN Reporter This article was produced by the NEN Editorial Desk in accordance with NEN Agency’s Editorial Policy and Fact-Checking Policy.