Rooma News : FY27 BUDGET: RS 17.5 TRILLION ◆ PUBLIC DEBT: RS 83.3T AS OF MARCH-END ◆ GOLD PRICE: DOWN RS 9,720/TOLA ◆ US-IRAN SETTLEMENT REACHED, SIGNING EXPECTED THIS WEEKEND ◆ UK DEFENCE MINISTER HEALEY RESIGNS ◆ EL NIÑO OFFICIALLY RETURNS ◆ CANADA PROPOSES UNDER-16 SOCIAL MEDIA BAN

 Daily Edition

Rooma News

Islamabad, Pakistan

Friday · June 12, 2026

Editor: Rooma Mehmood

FY27 BUDGET: RS 17.5 TRILLION ◆ PUBLIC DEBT: RS 83.3T AS OF MARCH-END ◆ GOLD PRICE: DOWN RS 9,720/TOLA ◆ US-IRAN SETTLEMENT REACHED, SIGNING EXPECTED THIS WEEKEND ◆ UK DEFENCE MINISTER HEALEY RESIGNS ◆ EL NIÑO OFFICIALLY RETURNS ◆ CANADA PROPOSES UNDER-16 SOCIAL MEDIA BAN ◆ 

Top News Headlines

Trump Announces “Great Settlement” With Iran, Signing Expected in Europe This Weekend

WASHINGTON — President Donald Trump has announced that a “great settlement” has been reached regarding the conflict with Iran, with documents expected to be signed in Europe as early as this weekend. The U.S. has indicated that its troops will remain in the Middle East until the transition is complete.

International

Defence Minister Healey Resigns Amid Rift With PM Starmer

LONDON — UK Defence Minister Healey has resigned following sharp disagreements with Prime Minister Starmer over the government’s new Defence Investment Plan, citing concerns that it does not adequately ensure the country’s safety.

El Niño’s Return Stokes Fears of Historic Heatwaves as Canada Moves to Rein In AI and Social Media

El Niño has returned, with experts warning of potential historic intensity in droughts and heatwaves. In Canada, new legislation has been introduced to ban social media access for children under 16 and to regulate AI chatbots.

Pakistan

Rs17.5 Trillion Budget Looms as Public Debt Hits Rs83.3 Trillion

ISLAMABAD — As the government prepares to unveil the Rs17.5 trillion federal budget, the focus remains on IMF-linked austerity measures. Public debt has reached Rs83.3 trillion as of March-end, while the gold price has seen a significant plunge of Rs9,720 per tola.

DEBT: RS 83.3T | GOLD: −RS 9,720/TOLA

Pakistan Moves Toward First National Genomic Policy

Pakistan is moving toward its first National Genomic Policy to strengthen preventive healthcare, a major development spearheaded by the Ministry of National Health Services.

PM, Army Chief Attend Funeral Prayers for Mi-17 Crash Martyrs

RAWALPINDI — Prime Minister Shehbaz Sharif and Army Chief General Munir attended funeral prayers for the Mi-17 helicopter crash martyrs. On the diplomatic front, Islamabad continues to push for a peaceful resolution to regional tensions.

Editorial

The Productivity Imperative

Unless productivity becomes the dominant target of economic policy, Pakistan will continue to oscillate between crises and fragile recovery.

As the country braces for the 2026–2027 budget, the narrative is once again dominated by tax targets, IMF conditions, and debt management. While these are necessary mechanics of fiscal survival, they are ultimately reactive. The “low-growth equilibrium” we find ourselves in is not merely a result of external shocks, but of a persistent refusal to tackle the structural roots of economic stagnation.

If the government’s priority is merely to calm lenders, we will continue to erode the purchasing power of the middle class while maintaining a bloated, inefficient fiscal structure. A truly progressive budget would pivot from mere revenue collection to industrial and agricultural productivity. This means moving beyond the “Fixed Tax Asaan Scheme” or other band-aid solutions for traders, and instead investing in the technological and educational infrastructure that empowers a modern workforce.

Pakistan has the human capital, but it remains trapped by outdated systems and a lack of innovation in governance. Whether in the water management sector — where we continue to face existential threats — or in the integration of AI into public services, our failure to modernize is our greatest economic liability. The upcoming budget must be evaluated not by how much it pleases international creditors, but by whether it provides a genuine roadmap for domestic productivity. Without this shift, the cycle of bailouts and “fragile recovery” will remain our only constant.

— Rooma Mehmood

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