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PM SHEHBAZ SET TO ATTEND 56TH WEF ANNUAL MEETING IN DAVOS NEXT MONTH
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Tuesday, 30 December, 2025 | 9 Rajabul Murajjab, 1447
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WEF 2026 THEMED ‘A SPIRIT OF DIALOGUE,’ JAN 19–23, BRINGING GLOBAL LEADERS TOGETHER
PREMIER SHEHBAZ TO ENGAGE ON ECONOMIC CHALLENGES, REGIONAL ISSUES AND COOPERATION OPPORTUNITIES
g PAKISTAN AIMS TO SHOWCASE DEPUTY PM ISHAQ DAR DIRECTS MAXIMUM COMMITMENT TO ECONOMIC GROWTH, BILATERAL ENGAGEMENTS WITH HEADS OF REGIONAL STABILITY, AND INVESTMENT STATES AND FINANCIAL LEADERS
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Rs 50.00 | Vol XVI No 175 | 40 Pages | Lahore Edition
FOCUS ON PUBLIC-PRIVATE DIALOGUE TO FOSTER GROWTH, RESILIENCE, AND INNOVATION ISLAMABAD
staff report
RIME Minister Shehbaz Sharif is set to travel to Switzerland next month to attend the 56th Annual Meeting of the World Economic Forum (WEF) in Davos, state media reported on Monday. The forum, themed “A Spirit of Dialogue,” will be held from January 19 to 23, 2026, and will bring together world leaders from government, business, civil society, and academia to discuss pressing global challenges and set priorities for cooperation. During the WEF meeting, Prime Minister Sharif is expected to engage with international leaders and investors on key economic challenges, regional and global issues, and potential avenues for enhanced collaboration. The discussions will focus on growth, resilience, and innovation as cross-cutting imperatives to address today’s complex global environment while pursuing long-term opportunities, according to the WEF website. On Monday, Deputy Prime Minister and Finance Minister Senator Mohammad Ishaq Dar presided over a highlevel meeting in Islamabad to oversee preparations for Sharif’s upcoming visit. Participants were briefed on the WEF program, bilateral engagements, and
scheduled media interactions. “Dar instructed officials to maximize substantive engagements with visiting heads of states, governments, and senior representatives of economic, business, and financial institutions,” Radio Pakistan reported. He also stressed the importance of exploring opportunities to foster collaboration with private sector business entities during the forum. The meeting emphasized that the WEF annual gathering provides a platform for public-private dialogue, where
Major martyred, 5 terrorists neutralized during Bajaur operation: ISPR RAWALPINDI
staff report
A major-ranked officer was martyred while five Indian proxy terrorists were neutralized during an intelligence-based operation (IBO) in Khyber Pakhtunkhwa‘s Bajaur district, said the military’s media wing in a statement on Monday. The InterServices Public Relations (ISPR) said, “The military identified the martyred officer as 36-year-old Major Adeel Zaman from Dera Ismail Khan, while during the operation, security forces also killed five terrorists.” “On December 29, security forces conducted an intelligence-based operation in the general area of Khar, Bajaur district, on the reported presence of Khwarij belonging to the Indian proxy, Fitna alKhwarij,” it said. “Fitna al-Khwarij” is a term designated for terrorists belonging to the banned Tehreek-i-Taliban Pakistan (TTP). “During the conduct of the operation, due to effective engagement by own troops five Indian-sponsored khwarij were sent to hell,” said the statement. “However, during the intense fire exchange, Major Adeel Zaman (age: 36 years, resident of Dera Ismail Khan District), a brave officer who was leading his troops from the front, having fought gallantly, rendered the ultimate sacrifice and embraced shahadat.” The statement further said that security forces recovered weapons and ammunition from the terrorists, who remained “actively involved in numerous terrorist activities against the security forces and law enforcement agencies as well as killing of innocent civilians”. Following the operation, security forces conducted a sanitisation operation to eliminate other terrorists in the area. “The relentless counter-terrorism campaign under the vision of ‘Azm-e-Istehkam’ (as approved by Federal Apex Committee on the National Action Plan) by the security forces and law enforcement agencies of Pakistan will continue at full pace to wipe out the menace of foreign-sponsored and supported terrorism from the country,” added the statement.
leaders can jointly address global challenges. Bilateral meetings and networking with international stakeholders are expected to advance Pakistan’s economic interests and attract potential investment opportunities. Preparations include detailed planning of the Prime Minister’s interactions, media strategy, and engagement with key global decision-makers, ensuring that Pakistan effectively projects its economic and diplomatic priorities. Officials underscored that the forum will allow the Prime Minister to highlight
Pakistan’s commitment to economic growth, regional stability, and international cooperation. The 56th WEF meeting in Davos is regarded as one of the world’s most influential gatherings, offering a critical platform for policy dialogue, strategic partnerships, and innovation-driven solutions to global challenges. Prime Minister Sharif’s participation underscores Pakistan’s active role in shaping discussions on global development, investment, and economic collaboration. PM lauds security forces for eliminating terrorists Prime Minister Muhammad Shehbaz Sharif Monday lauded the security forces for their operation against Khawarij belonging to Fitna ul Hindustan in Khar area of Bajaur. He commended security forces for killing five Khawarij in the operation. He paid tribute to Major Adeel Zaman for martyrdom during the operation. He prayed for the highest ranks of Major Adeel Zaman and expressed condolences to his family. He said, “Security forces are achieving successes against terrorism under Operation Azm e Istehkam.” He said, “The entire nation stands with Pakistan’s forces in this war against terrorism. We will cleanse the country of all forms of terrorism.”
dar reaffirms pakistan’s unwavering support for China on all core issues ISLAMABAD
staff report
Pakistan and China on Monday reaffirmed the depth and resilience of their all-weather strategic partnership, underscoring its centrality to regional peace, security and development, as Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar held a meeting with Chinese Ambassador Jiang Zaidong to review bilateral ties and matters of mutual interest. During the meeting, Ambassador Jiang conveyed seasonal greetings and best wishes for the New Year to the deputy prime minister on behalf of Chinese Foreign Minister Wang Yi. Reciprocating the greetings, Senator Dar expressed appreciation for China’s consistent
and strong support for Pakistan’s territorial integrity, sovereignty and national development. The deputy prime minister reaffirmed Pakistan’s unwavering support for China on all core issues, including firm adherence to the One-China Principle. He reiterated that Pakistan recognizes the People’s Republic of China as the sole legitimate government representing all of China, with Taiwan being an inalienable part of Chinese territory. Both sides reviewed the overall state of Pakistan-China relations and agreed that their enduring strategic partnership remains a cornerstone of Pakistan’s foreign policy and a stabilising factor for peace and security in the region. Dar directs enhanced engage-
ment strategy for PM’s WEF visit Meanwhile, Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Monday directed officials to ensure maximum substantive and outcome-oriented engagements during the Prime Minister’s upcoming visit to Switzerland to attend the 56th Annual Meeting of the World Economic Forum (WEF), scheduled from January 19 to 23, 2026, in Davos-Klosters. Chairing a preparatory briefing at the Ministry of Foreign Affairs, the deputy prime minister was briefed by the foreign secretary, Pakistan’s permanent representative to Geneva and senior officials on arrangements, the tentative programme and the agenda of the WEF annual meeting, according to a DPM’s Office news release.
Imran Khan, Bushra Bibi challenge Toshakhana 2 conviction in Islamabad High Court ISLAMABAD
staff report
Former prime minister and Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan and his wife, Bushra Bibi, on Monday filed separate appeals with the Islamabad High Court (IHC) challenging their 17-year convictions in the Toshakhana 2 case, terming the verdict politically motivated and legally flawed. The couple, in the appeals filed through Advocate Khalid Yousaf Chaudhry, contended that the conviction was politically motivated, stating: “The overarching objective of the present prosecution appears to be the continued incarceration of the appellant, thereby preventing his participation in national politics and curtailing his political role and influence.” The appeals highlighted several procedural flaws. They noted that the case, initially initiated by the National Accountability Bureau (NAB), had been transferred to the Federal Investigation Agency (FIA), and the challan was submitted within two days of investigation. “Such haste left inadequate time for a fair and transparent probe,” the appeals argued. Lawyers also pointed out the absence of any First Information Report (FIR) on record, undermining the investigation’s credibility. On December 20, a special court had sentenced Imran and Bushra over the purchase of an expensive Bulgari jewellery set gifted to Imran by the Saudi crown prince during an official visit in May 2021. The prosecution argued that the jewellery, valued at approximately Rs80 million, was retained after paying only Rs2.9 million, a fraction of its market value. The couple’s legal team further argued that the Toshakhana 2 conviction amounted to double jeopardy, being the fourth prosecution related to Toshakhana gifts. They claimed the bifurcation of cases—selectively prosecuting one set of gifts while deferring or abandoning others—was done to ensure continued incarceration. “The bifurcation of what ought to have been a single, composite trial was undertaken with the ulterior motive of politically targeting the appellant,” the appeals read. A key point of contention in the appeals was the 2018 Toshakhana Policy, which governs the reporting and retention of gifts.
Pakistan raises record Rs2tr through Sukuk in 2025
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PROFIT
staff report
Pakistan raised more than Rs2 trillion through domestic Sukuk issuances in 2025, the highest annual volume since Islamic bonds were introduced in 2008, according to Finance Minister’s advisor Khurram Schehzad. Schehzad said the issuances were carried out by the Ministry of Finance, through its Debt Management Office, in coordination with Joint Financial Advisors. A total of 61 Sukuk were issued during the year across one year, three year, five year and ten year tenors, under Fixed Rental Rate and Variable Rental Rate structures. The issuance increased the share of Islamic instruments in the government’s domestic debt portfolio from 12.6 percent in June 2025 to around 14.5 percent by December 2025, placing the government on track to meet its 20 percent Shariah compliant debt target by FY28, Schehzad said. He said the development reflects growing investor confidence, deeper Islamic capital markets, and improvements in sovereign debt management, supporting macroeconomic stability and fiscal sustainability. Pakistan has also expanded into Green Sukuk. In May 2025, the government launched its first Sovereign Domestic Green Sukuk worth Rs30 billion at the Pakistan Stock Exchange, raising the share of Shariah compliant financing in total domestic debt to 14 percent, then Finance Minister Muhammad Aurangzeb said.
Kp CM pens letter to Maryam nawaz, slams punjab govt over hostile treatment during Lahore visit PESHAWAR
staff report
Khyber Pakhtunkhwa Chief Minister Sohail Afridi has expressed “deep concern” over what he described as discourtesy, hostility, and intimidation during his three-day visit to Lahore, calling the treatment meted out to him “undemocratic, reprehensible, and contrary to national unity.” In a detailed two-page letter ad-
dressed to Punjab Chief Minister Maryam Nawaz on Monday, CM Afridi formally lodged his protest over the conduct of the Punjab government, highlighting multiple incidents that he said reflected a deliberate attempt to undermine his constitutional office. In the letter, posted on X by the KP government, CM Afridi stated, “I write to you with deep concern and strong exception to the manner in which my recent visit to the Province of Punjab was
handled and the events that deliberately unfolded during and after the visit.” He emphasized that the sequence of actions was neither accidental nor administrative but represented conduct “wholly incompatible with the dignity of constitutional office and the spirit of inter-provincial respect.” Afridi noted that he had undertaken the visit in his capacity as KP Chief Minister. “Regrettably, the treatment accorded to me was marked by dis-
courtesy, unnecessary hostility, and protocol deviations that cannot be justified under any accepted standard of inter-provincial engagement,” he said. He criticized the Punjab government for adopting an “extraordinary and excessive security posture,” which included sweeping detentions, visible enforcement theatrics, and forced blackouts in public areas—measures that, he said, sent “a message of intimidation rather than cooperation.”
parliamentary panel blames faulty sugar data for flawed export decisions, price surge PROFIT
staff report
A parliamentary panel, chaired by Dr Mirza Ikhtiar Baig, has concluded that inaccurate sugar production and stock data supplied by the Pakistan Sugar Mills Association (PSMA), combined with the absence of real-time and reliable information from the Federal Board of Revenue (FBR) and provincial Cane Commissioners, led to flawed sugar export decisions and contributed to sharp price hike, Business Recorder reported. The panel was mandated to examine the causes behind rising sugar prices and to identify entities, individuals, or officials responsible for decisions allowing sugar ex-
ports or imports in recent years. According to the panel’s findings, disruptions in the S-Track monitoring portal resulted in untracked movement of sugar, creating space for market manipulation and retail-level profiteering. It noted that the selective issuance of no-objection certificates enabled distortions, while excessive administrative controls were misused. The panel also observed that government engagement with PSMA on price-setting effectively legitimised cartel-like behaviour. It questioned the decision to import sugar despite indications of sufficient domestic availability at the time. The Competition Commission of Pakistan (CCP) briefed the panel on its past and ongoing interventions in the sugar sector.
The Commission said it has conducted multiple inquiries since its establishment, imposed penalties amounting to Rs44 billion, and issued policy recommendations, including a comprehensive sector study in 2018. Following the 2025 sugar price surge, when prices rose from around Rs120 per kilogram to above Rs200, the CCP launched a detailed probe. It told the panel that export approvals were granted in six phases between November 2023 and January 2025, based on recommendations of the Sugar Advisory Board, which relied on production and stock data provided by PSMA. The final approval of 500,000 metric tons in January 2025 was identified as a major factor contributing to domestic shortages. The CCP stated that PSMA overstated
sugar production by about 1.33 million metric tons and provided inaccurate carry-forward stock figures, leading to multiple export approvals on faulty data. It added that repeated requests to the FBR for accurate stock information did not yield the required data, while reporting by provincial Cane Commissioners remained inconsistent. A fresh investigation into potential market abuse and penalties for 2025 is currently underway. The panel’s convener noted that the lack of real-time data in 2025 prevented timely enforcement action against mills suspected of cartelisation and supply withholding. The committee put forward a wideranging set of recommendations, including establishing an integrated, real-time data-
sharing system linking the FBR, Cane Commissioners, CCP and relevant ministries; verifying export decisions through independent assessments; maintaining a minimum buffer stock of 540,000 metric tons at all times; and fixing accountability for officials or institutions providing misleading data. Other proposals include gradual deregulation of the sugar sector to reduce distortions, clear rules for Trading Corporation of Pakistan procurement, audits of past import decisions, stronger legal powers for the CCP, enforcement of timely crushing by provinces, and action against retail profiteering. The panel concluded that deregulation remains the only sustainable long-term solution to prevent recurring sugar crises.