Profit RELIEF, UNINTERRUPTED POWER SUPPLY TO INDUSTRY AMONG TOP PRIORITIES: PM In partnership with
Thursday, 26 June, 2025 | 29 Zilhaj, 1446
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Rs 20.00 | Vol XV No 348 | 8 Pages | Karachi Edition
THE PREMIER INFORMED RS9.05B REVENUE GENERATED FROM FIRST PHASE OF PRIVATIZATION OF OUTDATED AND LOSS-INCURRING GENCOS
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PM SHEHBAZ EMPHASIZES EXPEDITING PRIVATIZATION OF POWER DISTRIBUTION COMPANIES
MEETING BRIEFED ON A ROADMAP FOR ELIMINATION OF RS2.4TR CIRCULAR DEBT OVER NEXT SIX YEARS
Agri sector being reformed to benefit farmers, lift rural communities: PM
ISLAMABAD
Staff RepoRt
RIME MINISTER Muhammad Shehbaz Sharif Wednesday said that provision of relief to the public and uninterrupted power supply to industries, through reforms in the power sector, were among the top priorities, according to state broadcaster PTV News. Chairing a review meeting on the ongoing power sector reforms, the premier directed swift completion of the second and third phases of the privatization of loss-making GENCOs and further instructed that the GENCOs’ auction process should be broadcast live on media, just like other privatization programmes, PM Office Media Wing said in a press release. The prime minister emphasized expediting the privatization of power distribution companies. The meeting was attended by federal ministers Sardar Awais Khan Leghari, Ahad Khan Cheema, Ali Pervaiz Malik, Adviser to PM Muhammad Ali, Minister of State Bilal Azhar Kayani, National Coordinator Power Task Force Lt-Gen Zafar Iqbal, PM’s Coordinator Musharraf Zaidi and senior relevant officials. During the meeting the prime minister called for an early report after the in-
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ISLAMABAD
Staff RepoRt
stallation of smart meters is completed. He said that the federal government had completed the solarization of tube wells in Balochistan, which would enhance the province’s agricultural productivity. The meeting received a detailed briefing on ongoing reforms and projects related to electricity generation, transmission, and distribution. It was informed that, as per the Prime Minister’s instructions, the first phase of the privatization of outdated and loss-incurring GENCOs was completed, generating revenue of Rs9.05 billion for the national exchequer. The second and third phases were underway at a fast pace. To ensure transparency,
the auction proceedings were being broadcast live. The meeting was further informed that successful negotiations were held with 36 Independent Power Producers (IPPs) regarding electricity tariffs, resulting in projected savings of Rs3.69 trillion for the national treasury. The prime minister also instructed that the establishment of electric vehicle (EV) charging stations across the country be accelerated and directed that proposed projects to improve the power transmission and distribution system be initiated promptly.
Prime Minister Muhammad Shehbaz Sharif on Wednesday reaffirmed his government’s commitment to revitalizing the agriculture sector by introducing sustainable reforms in the sector, emphasizing that the development of the agriculture sector would directly benefit farmers and uplift rural communities, state media reported. “The introduction of sustainable reforms in the agriculture sector, which is the backbone of the national economy, will not only boost the economic development but also significantly enhance per-acre yield and reduce production costs,” Premier Shehbaz stressed while chairing a high-level meeting on agricultural sector reforms, state-run Associated Press of Pakistan (APP) reported. The prime minister directed the relevant authorities to gradually reduce taxes on agricultural machinery and tools to en-
Pakistan urges diplomacy, dialogue resumption to resolve Iran’s nuclear issue NEW YORK
Staff RepoRt
Pakistan reaffirmed its support for resolving Iran nuclear issue through peaceful means when the UN Security Council on Tuesday discussed the latest developments related to the implementation of its 2015 resolution endorsing the Joint Comprehensive Plan of Action (JCPOA), which limits the Iranian atomic programme. “Diplomatic engagement and the resumption of dialogue are the best means to resolve all outstanding issues,” Ambassador Asim Iftikhar Ahmad, permanent representative of Pakistan to the UN, told the 15-member Council on Tuesday. “Diplomacy has delivered previously, and with the necessary political
will, it can certainly deliver again,” he said, referring to JCPOA, which was signed in 2015 after extensive negotiations between Iran and several world powers, including the United States. The US, however, withdrew from the agreement in 2018 under the Trump administration, and the deal is now considered “essentially defunct.” Tuesday’s Security Council session followed a brokered ceasefire that brought a pause to recent hostilities—air strikes by Israel and the United States on Iranian nuclear sites, and Tehran’s subsequent missile attacks on a United States base in Qatar. In his remarks, Ambassador Asim Iftikhar said the IAEA, the UN agency responsible for verifying compliance with respective nuclear safeguards obli-
No meeting scheduled between Kh Asif, Indian counterpart at SCO event: FO ISLAMABAD
Staff RepoRt
Pakistan’s Foreign Ministry on Wednesday clarified that no meeting is scheduled between Defence Minister Khawaja Asif and his Indian counterpart Rajnath Singh during Shanghai Cooperation Organisation (SCO) Defence Ministers' Meeting. The Foreign Office, in a statement issued in “response to speculations and rumor,” confirmed that the Defense Czar reached Qingdao, China to participate in the SCO meeting, began on Wednesday. The SCO meeting is set to deliberate on regional and global security, counterterrorism cooperation, and military ties. On the other hand, Turkish media reports suggested the possibility of the first face-to-face meeting between the defence ministers of two South Asian countries since the recent military standoff between Islamabad and New Delhi. The Turkish media stated that Asif will lead the Pakistani delegation at the two-day SCO meeting. Whereas, the Indian defence minister will also attend the forum with a high-level delegation. It further reported that Singh is scheduled to hold meetings with the defence ministers of China, Russia, and other nations. Earlier, National Security Advisor (NSA) Lt Gen Asim Malik attended the 20th meeting of the secretaries of the Security Council of SCO Member States on Tuesday in Beijing, China. In addition to interacting with Chinese leadership, during the visit, the NSA delivered an important speech reiterating Pakistan’s stance on the global, regional situation and contributions to peace and security, besides meetings with key leadership of SCO countries to enhance bilateral and security cooperation. As part of his engagements, the NSA emphasised on Pakistan’s desire for a stable and peaceful neighbourhood and its role as a net regional stabiliser. The military confrontation between Pakistan and India — which included cross-border strikes by both the nuclear-armed nations — came weeks after 26 tourists were killed in Indian Illegally Occupied Jammu and Kashmir's (IIOJK) Pahalgam and India falsely blamed Pakistan for the attack in April. After the incident, India killed several innocent civilians in unprovoked attacks on Pakistan for three days before the Pakistan Armed Forces retaliated in defence with the successful Operation Bunyanum Marsoos.
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gations of member states, must be enabled to fulfil this statutory function. “We believe that verification activities by the IAEA should continue unimpeded,” he added. The Security Council, the Pakistani envoy said, should allow sufficient time to continuing efforts between the IAEA and Iran as well as other parties to resolve outstanding issues. Recent developments, he said, have yet again manifested the grave dangers that present themselves when there are violations of the UN Charter and international law. “The cost of seeking to resolve issues through military means is more than evident,” he said, adding, “The region, and indeed the whole world, cannot be hostage to such adventures, dangerous
precedents, and spiraling escalations.” With regards to recent developments, Ambassador Asim Iftikhar emphasized: n Condemnation of violation of the sovereignty and territorial integrity of member states and, of the threat or use of force to settle disputes; n Rejection of attacks on IAEA-safeguarded nuclear facilities; n Sustained cessation of hostilities and a permanent ceasefire to allow resumption of dialogue and verification activities by the IAEA, and, n Renew diplomatic engagement to seriously and faithfully address the outstanding issues in a cooperative manner.
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Pakistan, UAE sign MoU on mutual exemption of entry visa requirement ISLAMABAD NewS DeSk
Pakistan and the United Arab Emirates (UAE) signed a critical Memorandum of Understanding (MoU) on “Mutual Exemption of Entry Visa Requirements” on Monday during the 12th session of the Pakistan-UAE Joint Ministerial Commission (JMC) held in Abu Dhabi. This agreement represents a pivotal step in enhancing diplomatic and economic cooperation between the two countries. The session was co-chaired by Deputy Prime Minister and Minister of Foreign Affairs Senator Mohammad Ishaq Dar from Pakistan and UAE Deputy Prime Minister and Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan. During the meeting, both sides reviewed the full spectrum of bilateral relations, focusing on expanding cooperation in trade, banking, investment, energy, food security, health, climate change, and education. A major achievement of the session was the signing of the MoU, which provides for mutual visa exemptions for holders of diplomatic and official passports, simplifying travel between the two na-
tions. In addition to the MoU, several agreements were signed to deepen cooperation in key sectors such as artificial intelligence, the digital economy, and renewable energy. Both countries expressed their commitment to strengthening institutional mechanisms, with a particular focus on inter-ministerial coordination to ensure the effective implementation of these agreements. The UAE has also pledged to provide technical and financial support to help Pakistan achieve its development goals, particularly in sectors such as agriculture and infrastructure. The JMC meeting was preceded by a preparatory session led by Special Assistant to the Prime Minister Tariq Bajwa and UAE Minister of State Ahmed Ali Al Sayegh, who reviewed the current state of bilateral relations and identified areas for future collaboration. The session highlighted the importance of continued efforts to promote sustainable development, focusing on mutual benefits and long-term stability for both countries. In a statement following the meeting, the two sides reaffirmed their commitment to regional peace and stability, pledging to work together on various fronts, including peace initiatives in the Middle East and the promotion of broader economic ties.
courage farm mechanization across the country. He also instructed to expedite efforts aimed at increasing the storage capacity for agricultural produce. The meeting was attended by Federal Minister for National Food Security Rana Tanveer Hussain, Minister for Climate Change Dr. Musadik Malik, PM’s Chief Coordinator Musharraf Zaidi, Chief Coordinator for Agriculture Sector Ahmad Umair, as well as private sector entrepreneurs and senior government officials. PM Shehbaz Sharif welcomed the provision of funds by provincial governments for new agricultural projects, stating that these initiatives would play a key role in accelerating sectoral growth. He expressed optimism that the agriculture students and scientists currently pursuing scholarships in China would contribute to the sector’s development as entrepreneurs upon their return, state broadcaster PTV News said.
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‘Impressive, great man’: Trump heaps praise on Field Marshal Munir, again
THE HAGUE ageNcieS
US President Donald Trump on Wednesday once again heaped praise on Field Marshal Asim Munir, whom he recently met at the White House, and reiterated his stance that he stopped last month’s conflict between the nuclear-armed Pakistan and India. Addressing a press conference after attending the annual NATO summit in The Hague, the US president called the Pakistan-India conflict the “most important” of all the recent ones, saying both countries have nuclear weapons, and he ended that with a series of phone calls on trade. “I said, look, if you are going to go fighting each other… it was getting very bad… I said, If you are going to go fighting each other, then we are not going to do trade deals,” Trump said. Praising Field Marshal Munir, Trump said, “I met the general from Pakistan last week in my office—a very impressive personality, a great man.” He also described Indian Prime Minister Narendra Modi as a close friend, stating, “Modi is a great friend of mine. A great gentleman.” “We got them to reason, and I said, ‘We are not doing any trade deal if you are going to fight… and you know what? They said, ‘No, I want to do the trade deal,’ and we stopped a nuclear war,” he added. President Trump said last month that the nuclear-armed South Asian neighbours agreed to a ceasefire after talks mediated by the US and that the hostilities ended after he urged the countries to focus on trade instead of war. Islamabad had previously said that the ceasefire happened after its military returned a call the Indian military had initiated on May 7. Although Pakistan has time and again praised and credited President Trump for his role in the ceasefire, which he himself has highlighted on multiple occasions, India has denied any US involvement whatsoever.
NA approves Rs34b agriculture budget; govt targets cotton revival, surplus fertilizer, and $8b exports PROFIT
MoNitoRiNg DeSk
The National Assembly on Wednesday approved three demands for grants totaling Rs34.046 billion for the National Food Security and Research Division to cover expenditures for the fiscal year ending June 30, 2026. The funding requests were presented during the ongoing budget session by Finance Minister Muhammad Aurangzeb, with all 98 cut motions tabled by opposition members rejected by majority vote. The approved allocations include Rs23.068 billion for the National Food Security and Research
Division, Rs6.724 billion for the Pakistan Agricultural Research Council (PARC), and Rs4.253 billion for the division’s development expenditures. Wrapping up the debate, Federal Minister for National Food Security and Research Rana Tanveer Hussain emphasized that agriculture is at the forefront of national priorities, with Prime Minister Shehbaz Sharif holding daily briefings on sectoral progress and issuing clear instructions for accelerated development. Calling agriculture the backbone of the economy, the minister noted that around 65% of Pakistan’s population is either directly or indirectly linked to the sec-
tor. He said the government has launched a multi-pronged strategy, creating working groups and task forces to resolve cropand region-specific challenges. Rana Tanveer pointed to the stabilization of fertilizer prices and an uninterrupted supply chain as key wins under the current administration. “There is no shortage this year, and prices have not only remained stable but in some cases are even below the official rates,” he said. “Pakistan is now in a fertilizer surplus position and is considering exporting excess stock.” On cotton, the minister acknowledged the sector’s previous decline but noted that the government had now set
a target of 10 million bales, effectively doubling production from previous years. He credited the Prime Minister’s intervention, including an 18% import duty on foreign cotton, for restoring price parity and protecting domestic growers. Addressing efforts in Balochistan, Rana Tanveer announced a Rs50 billion allocation for the installation of solarpowered tube wells, aimed at advancing sustainable agriculture and conserving water resources. He also highlighted the ongoing institutional reforms in the agriculture sector, which are geared toward building a modern, productive, and farmer-centric economy.