Pakistan’s new Gwadar airport set to launch flights to Muscat from Jan. 10

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Saturday the government would take strict action against people involved in hoarding, whose actions drive up the cost of essential food commodities every year during the Muslim fasting month of Ramadan.
The minister made the comment while addressing the business community in Faisalabad, a major industrial hub of the country, assuring them that the national economy was moving in the right direction after undergoing a prolonged crisis.
He maintained a reduction in the policy rate, along with steps that have improved macroeconomic indicators, including an overall decrease in inflation, had benefited business owners.
Aurangzeb said all the hard work done on the economy should ultimately benefit the common citizen, adding it was important for that purpose to keep the prices of essential items from spiraling unnecessarily.
“We monitor commodity prices very closely during the ECC meetings,” he said, referring to the Economic Coordination Committee, a principal federal institution responsible for key economic decisions. “We observed a few weeks ago that domestic prices of sugar, ghee and oil were rising even as their international prices were declining.”
“In anticipation of Ramzan, we start getting into this hoarding mentality, which is most unfortunate,” he continued. “We will take very, very strict action against these elements.”
The minister warned the government would take all necessary administrative steps to “prevent the arbitrage” during the holy month.
Food prices in Pakistan often rise in Ramadan due to several factors, including increased demand and supply chain inefficiencies. However, a major issue is hoarding and speculative pricing by traders, which artificially inflates prices to maximize profits during the holy month.
Aurangzeb said this would not be tolerated, adding that sugar and other essential item prices would be strictly controlled as Ramadan approaches in the coming days.

KARACHI: Pakistan Telecommunication Company Limited (PTCL) has brought the Africa-1 submarine cable ashore at its landing station in Karachi, it announced in a statement on Saturday, enhancing Pakistan’s connectivity with Saudi Arabia and other global digital hubs.
The 10,000-kilometer Africa-1 cable, a consortium-backed ultra-high-capacity system, aims to bolster international bandwidth and support Pakistan’s growing digital infrastructure.
The system will link the country with key locations in the Middle East and beyond, including countries like Saudi Arabia, the United Arab Emirates, Egypt, Sudan, Algeria, France, Kenya and Djibouti.
“PTCL is proud to be a part of the Africa-1 cable system consortium. This partnership aligns seamlessly with Pakistan’s Digital Vision 2030 and our commitment to empowering the communities by bridging the digital divide,” said Syed Muhammad Shoaib, Group Vice President of International Business at PTCL.
“By establishing strong, reliable connections to key international hubs, PTCL aims to provide faster, world-class Internet services enabling innovation across sectors and strengthening Pakistan’s position in the global economy,” he added.
The consortium includes major regional telecom operators such as Saudi Arabia’s Mobily, UAE’s e& and G42, Telecom Egypt, Zain Oman International (ZOI), Algérie Télécom and TeleYemen. The system employs state-of-the-art technologies to enhance data transmission speeds and reliability.
The cable’s landing in Karachi is expected to further strengthen Pakistan’s role as a regional digital hub. It will be terminated at PTCL’s Misrishah Exchange in DHA Phase-VI, Karachi.
Once operational in early 2026, the Africa-1 system is expected to significantly enhance PTCL’s Internet services and support the country’s economic growth by providing improved global connectivity.
The development comes amid increasing demand for reliable high-speed Internet services in Pakistan, driven by digital transformation efforts across sectors including finance, e-commerce and information technology.