Pakistan gets first iPhone trade-in program

ISLAMABAD: Pakistan’s envoy to the United Arab Emirates on Monday emphasized the role of cultural diplomacy in strengthening people-to-people contacts, said an official statement, as he addressed an art exhibition in Ajman that highlighted his country’s rich cultural heritage.
The exhibition comes amid growing efforts by Pakistan to deepen economic and cultural ties with the Gulf nation. The UAE is one of Pakistan’s largest export destinations in the region due to its proximity, and Pakistani firms often use it as a base to target the broader Middle Eastern market.
In recent years, Pakistan has also hosted similar exhibitions featuring fruits, vegetables and industrial goods in a bid to enhance trade opportunities.
“Art, music, cuisine and sports have the power to unite people,” Ambassador Faisal Niaz Tirmizi said during the ceremony. “For greater harmony and peace, we must encourage more cultural exchanges.”
“The UAE’s beauty lies in its ability to bring together over 200 nationalities, creating a melting pot of cultures,” he added.
The exhibition featured a blend of traditional and contemporary works not only by artists from Pakistan but also other Muslim countries like Syria, Egypt and Lebanon.
The Pakistani envoy toured the venue following the inauguration, interacting with artists and appreciating their creative expressions.
The event concluded with the ambassador distributing certificates to participating artists in recognition of their work.
There was also a cake-cutting ceremony at the exhibition to mark Pakistan Day, annually celebrated on March 23.

KARACHI: Inflation is expected to remain within the 1-1.5% range in Pakistan during the month of March, the country’s Finance Division said in its monthly outlook report on Tuesday, as Islamabad navigates a tricky path to recovery from a macroeconomic crisis. 

Aggressive policy rate cuts by Pakistan’s central bank and a series of economic reforms by the government has led to a substantial decline in Pakistan’s annual inflation rate, bringing it down to 1.5% in February 2025.

Pakistan’s inflation rate peaked to a record high of 38% in May 2023 on account of surging food and fuel costs as Islamabad withdrew energy and fuel subsidies under a deal agreed with the International Monetary Fund (IMF) for a financial bailout package. 

“Inflation is anticipated to remain within the range of 1.0-1.5% for March 2025 and inching up to 2.0-3.0% in April 2025,” the Finance Division said in the outlook report. 

It added that high frequency indicators, such as a “positive” growth in cement sales, increased automobile production and higher imports with an easy monetary policy, suggest a potential uptick in production if demand conditions remain supportive. 

The report highlighted that Pakistan may record a likely increase in foreign remittances due to “seasonal factors” such as the holy month of Ramadan and the upcoming Eid festivals. 

“Similarly, exports and imports are expected to improve owing to the expansion in economic activity,” the report said. “Collectively, these factors will help to keep the current account within manageable limits.”

The report praised the government’s resource mobilization, saying it had led to an increase in tax collection during the month and also noted the “favorable” performance of the Pakistan Stock Exchange compared to major global indices.

Pakistan’s government has claimed the country is finally on the path to sustainable economic growth, vowing to undertake long-term financial reforms. The nation expects its foreign exchange reserves to increase beyond $13 billion by June despite weak net financial inflows caused by a shortfall in the planned official inflows. 

Pakistan has also repaid the majority of its external debt due this year, according to the central bank.