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PM LAUNCHES RS1.2TR ‘HISTORIC BREAKTHROUGH’ TO WIPE OUT ENERGY CIRCULAR DEBT Friday, 26 September, 2025 | 2 Rabius Sani, 1447
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PREMIER SHEHBAZ SAYS CIRCULAR DEBT TO END IN SIX YEARS UNDER LANDMARK FINANCING FACILITY, AIMS AT SAVING RS350B
SHEHBAZ STRESSES ‘COURAGE AND CONFIDENCE,’ SAYING CONSORTIUM OF 18 BANKS BACKS RS1.225TR FINANCING FACILITY WITH SIX-YEAR REPAYMENT WINDOW
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CLAIMING RETIREMENT OF DEBT SERVICE SURCHARGE, IPP SETTLEMENTS, AND PHL LOAN CENTRAL TO POWER SECTOR REFORMS
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PM CREDITS TASK FORCE FOR TOUGH IPP NEGOTIATIONS, ACKNOWLEDGING ‘VITAL SUPPORT’ BY ARMY CHIEF
pM Shehbaz arrives in Washington for key White House talks with president trump WASHINGTON/ISLAMABAD staff report
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ISLAMABAD/NEW YORK staff report
RIME Minister Muhammad Shehbaz Sharif on Thursday unveiled Pakistan’s first-ever comprehensive plan to eliminate energy sector circular debt, terming it a “historic breakthrough” that would not only stabilize the country’s fragile power sector but also deliver savings of Rs350 billion to consumers, according to state media. Backed by a financing facility of Rs1.225 trillion from a consortium of 18
Rs 20.00 | Vol XVI No 79 | 8 Pages | Karachi Edition
Prime Minister Shehbaz Sharif arrived in Washington on Thursday for a much-anticipated meeting with US President Donald Trump — a highprofile engagement expected to reset Pakistan-US ties amid shifting regional dynamics and recent strains in Washington’s relations with New Delhi, state media reported. State broadcaster PTV reported that the prime minister, accompanied by a delegation, landed at Andrews Airbase where he received a red-carpet welcome from senior US Air Force officials. His motorcade then departed under tight security for the White House, where the meeting with President Trump is scheduled for 4:30pm local time (1:30am PST Friday). Chief of Army Staff Field Marshal Syed Asim Munir is also part of the delegation.
banks, the landmark initiative aims to clear longstanding liabilities, reduce surcharges, and pave the way for structural reforms. Speaking at the signing ceremony,
According to officials, the two leaders are expected to discuss matters of mutual interest, regional stability, counterterrorism cooperation, trade, and global developments. The meeting comes weeks after Pakistan and the United States finalized a trade agreement imposing a 19% tariff on Pakistani goods, and just days after PM Shehbaz’s extensive engagements at the 80th UN General Assembly session in New York. During his UNGA trip, the prime minister attended multilateral summits of the Muslim bloc, held side meetings with international financial institutions, and joined President Trump in discussions with leaders of Muslim-majority countries on the Israel-Gaza conflict. ‘Pak-US ties gradually warming up’ According to a senior US State Department official, the relations between Washington and Islamabad were “gradually warming up” in President Trump’s second term.
the prime minister—who joined via video link from New York—hailed the collective efforts of the government, financial institutions, regulators, and the
– urges global community to honour climate finance pledges
NEW YORK/ISLAMABAD staff report
Prime Minister Shehbaz Sharif on Wednesday urged the international community to fulfil its climate finance commitments, warning that debtdriven solutions cannot address the climate catastrophe facing vulnerable countries like Pakistan. Speaking at the Special Climate Event convened by UN Secretary-General António Guterres and the President of Brazil, the prime minister announced Pakistan’s new climate targets, including raising renewable and hydropower share to 62% of the energy mix by 2035, expanding nuclear capacity, shifting 30% of transport to cleaner mobility by 2030, and planting one billion trees.
dedicated task force in negotiating and finalizing the plan, said a statement issued by the Prime Minister’s Office.
Continued on page 03
Bugti accuses afghan authorities of giving ‘state patronage’ to terrorists ISLAMABAD
staff report
LPC President among six journalists move LHC against NCCIA notices LAHORE
staff report
Six journalists, including Lahore Press Club (LPC) President Muhammad Arshad Ansari, moved the Lahore High Court (LHC) on Thursday against notices they received from the National Cybercrime Investigation Agency (NCCIA). The petitioners — Arshad Ansari, Sheikh Mujahid Latif, Sheraz Nisar, Ahmed Faraz, Yasir Shamoon, and Waseem Sabir — made the NCCIA director, deputy director, and inspector from Lahore, as well as the agency’s director general in Islamabad, respondents in the case. According to the petition, the journalists had performed their professional duty by covering criminal cases and highlighting flaws in police administration. They specifically pointed to their reporting on the creation of the Crime Control Department, the appointment of Lahore Deputy Inspector General (DIG) Faisal Kamran “without merit,” and what they described as the rising crime rate in the provincial capital. The journalists alleged that these reports prompted DIG Kamran to retaliate by “launching malicious social media campaigns against petitioners through retired police officials.” The petition further stated that on September 18, a “premeditated complaint based on false and fabricated contents” was filed with the NCCIA in an attempt to malign and defame them. Subsequently, the NCCIA deputy director issued two notices to the journalists, summoning them for personal appearances. The first notice was served on September 20, followed by a second on September 24, directing them to appear the very next day, September 25. “The gap between both notices is merely three to four days, which clearly indicates misuse of authority aimed at maligning the petitioners,” the plea stated. It argued that the NCCIA’s actions amounted to harassment and an attempt to silence critical reporting on police performance. The petition contended that “powers are being misused by the respondents, and notices are being sent maliciously at the behest of others just to tarnish the reputation of journalists.” It also pointed out that no clear rules or regulations exist to govern the mechanism, timeline, or frequency of such notices, leaving the process open to arbitrary use. Calling the NCCIA’s September 18 notice “illegal, unlawful and void ab initio,” the petitioners asked the LHC to quash it altogether. They further requested the court to suspend its operation until the case is adjudicated. The journalists argued that issuing notices “at the desire of higher authorities to malign journalists” reflected mala fide intent on the part of the investigating officers, and urged the court to intervene to prevent further harassment.
Balochistan Chief Minister Sarfraz Bugti said on Thursday that terrorists were receiving “state patronage” in Afghanistan, from where they continue to launch attacks on Pakistan. Addressing a press conference in Islamabad, Bugti claimed that militants had been provided with “safe havens” and training facilities across the border. He added that several of those recently killed in operations in Pakistan had Afghan origins. “The Taliban government must honour the Doha agreement, in
which they pledged not to allow Afghan soil to be used against any country,” Bugti said. His remarks echo repeated complaints from Islamabad that militant groups use Afghan territory to carry out violence inside Pakistan. Kabul has consistently denied such allegations. Bugti also shared information about an intelligence-based operation in Chagai a day earlier, which resulted in the deaths of two men and the surrender of another. He said one of those killed was a lawyer linked to the May 8 attack on Pakistan Air Force personnel in Dalbandin. According to Bugti, the man had been under surveillance for
several months. When security forces surrounded his home and urged him to surrender, he opened fire. “A Federal Constabulary soldier was martyred in the exchange, which lasted two to three hours. Eventually, two terrorists were killed and their companion surrendered,” he said. He further alleged that efforts were underway to unite militant outfits in Balochistan, claiming that the campaign was supported by India’s Research and Analysis Wing (RAW). “This is an intelligence-based war foisted on us, aimed at destabilising Pakistan,” he remarked.
Pakistan, China set to launch ‘historic’ CPEC 2.0 at 14th JCC meeting today BEIJING/ISLAMABAD staff report
Pakistan and China are set to formally launch the second phase of the China-Pakistan Economic Corridor (CPEC 2.0) at the 14th meeting of the Joint Coordination Committee (JCC) in Beijing on Friday (today), a development being hailed as a historic turning point in bilateral ties. Federal Minister for Planning, Development and Special Initiatives, Prof. Ahsan Iqbal, will represent Pakistan at the high-level meeting, which will not only review progress on ongoing projects but also expand cooperation into new, people-centric areas such as skills, youth empowerment, space technology, and industrial innovation. Prof. Ahsan Iqbal, in a statement ahead of the meeting, underlined that the JCC is CPEC’s highest decisionmaking body, making the 14th session particularly significant as it marks the formal beginning of Phase II. He said the new phase would transform CPEC into a “People’s Corridor of Prosperity,” shifting focus from infrastructure to inclusive growth, innovation, and global competitiveness. The minister emphasized that the next stage would strengthen the “software of Pakistan’s economy” by empowering its greatest strength — the people. “CPEC Phase II will center on youth, skills, and innovation. People will play the leading role, while exports will serve as the driving engine of the economy,” he remarked, adding that the deepening partnership would serve as a beacon of hope for the entire region. During his ongoing visit to China, Ahsan Iqbal also highlighted new dimensions of bilateral cooperation. At the Hunan Satellite Space Technology facility, he noted that Pakistani and Chinese engineers are jointly developing satellites. “With China’s support, Pakistan is writing a new chapter in space cooperation. Our friendship is advancing from roads and infrastructure toward conquering space,” he said, stressing that space sciences under CPEC Phase II would expand Pakistan’s capacity for scientific innovation and national development. The minister also visited CRRC Zhuzhou Locomotive Company Limited, where he invited the firm to competitively participate in Pakistan’s ML-1 railway modernization project. He described rail cooperation as a future game-changer, poised to reduce costs, revolutionize connectivity, and energize Pakistan’s economic growth through public-private partnerships. At Zhuzhou Times New Material Technology Company, Ahsan Iqbal, accompanied by a delegation from 20 countries, was briefed on cutting-edge research in materials science. Calling advanced materials “indispensable for industrial progress and infrastructure development,” he said Pakistan seeks to modernize its industries by embracing China’s technological advancements in CPEC Phase II. “Industrial innovation makes economies globally competitive. By learning from China’s breakthroughs in science and technology, Pakistan can modernize its economy and carve out a stronger role in the global supply chain,” he stressed.
Maryam nawaz, Bilawal ‘trade barbs’ over flood relief mechanism KARACHI/LAHORE staff report
A fresh war of words erupted between coalition partners PML-N and PPP on Thursday, as Punjab Chief Minister Maryam Nawaz Sharif accused the PPP of “politicising” flood relief in Punjab, while PPP Chairman Bilawal Bhutto-Zardari insisted that the Benazir Income Support Programme (BISP) remained “the only effective mechanism” to reach out to the flood-affected communities. Speaking at the launch of the electric bus project in Dera Ghazi Khan, CM Maryam dismissed the idea of routing flood aid exclusively through BISP. “Nowadays, people are talking about distributing aid through BISP… but they only give Rs10,000. I will give flood-affected people Rs1 million,” she declared, terming the PPP’s approach a “simplistic solution.” She argued that Rs10,000 was insufficient for fami-
lies who had lost homes, livestock, and crops. “I want to rebuild damaged houses and compensate destroyed crops, but BISP does not provide enough money,” she said. While acknowledging PPP as an ally at the Centre, Maryam said the party was politicising Punjab’s flood crisis. Without naming Bilawal, she urged him and former president Asif Ali Zardari to guide their spokespersons. “If, God forbid, a disaster hits Sindh, Punjab will stand with it. I ask them to stop politicising floods in Punjab,” she remarked. Reacting to criticism over not seeking international aid, she reiterated: “I am Nawaz Sharif’s daughter, and I will not beg for charity. How long will Pakistan continue to extend its hand before the world? The NFC Award gives billions to provinces — where is that money being spent?” Earlier in Karachi, Bilawal Bhutto defended his stance, calling BISP the “sole method” to deliver immediate relief. He said the programme’s national database
and reach had been used successfully in the past, including during the Covid-19 pandemic. “If we do not use BISP today, what is the fault of the people of South Punjab whose homes and crops are destroyed?” he asked. He also called on the federal government to declare a “climate and agriculture emergency” in light of the devastation. He said farmers’ power bills in affected areas should be waived and announced that the Sindh government would assist small farmers through the Benazir Hari Card, fertiliser support, and incentives for wheat cultivation. “If provincial and federal governments act in time, we can reduce losses and avoid heavy wheat imports,” he added. Bilawal criticised the federal government for not launching an international appeal at the outset of the floods. “By reaching out to the global community and the IMF, you could have doubled the relief effort. This opportunity was missed,” he said.
pakistan secures spot in asia Cup final with win over Bangladesh DUBAI
staff report
Pakistan booked their place in the Asia Cup 2025 final as they defeated Bangladesh by 11 runs in the death-orglory Super Four match at the Dubai International Stadium on Thursday night. Pakistan bowler took the challenge well as they cornered Bangladesh batters, leaving them with 124 for nine at the end of their 20 overs. This will be the first time Pakistan and India play each other in the Asia Cup final. Pakistan lost the toss and were made to bat first on a bowler-friendly pitch. At first, Captain Jakar Ali of Bangladesh seemed to have made a wise decision, as Pakistan struggled with the bat, only managing 135 for eight in their first 10 overs. But, as bad as Pakistan were with the
bat, Bangladesh also made the same mistakes as their opponents, misjudging and having poor shot selection.
Despite all odds, Pakistan successfully created a stranglehold over Bangladesh through fantastic bowling by
Saim Ayub as he took the crucial wicket of Bangladesh captain Jakar Ali 73-6. Ayub made up for his lackluster batting with brilliant bowling as he took two wickets, including that of Nurul Hasan. Shaheen Shah Afridi gave the muchneeded confidence as he led the attack, taking back-to-back wickets of Parvez Hossain Emon in the very first over of the match and then dismissing Towhid Hridoy in 4.2 overs. He then sent Shamim Hossain onto the field to strengthen Pakistan’s position in the match, while Bangladesh was at 97 runs after 16.5 overs. Haris Rauf effectively ended Bangladesh’s chances of winning the match by dismissing Tanzim Hasan Sakib and Taskin Ahmed. Pakistan finished their nightmare innings with a total of 135 runs for eight wickets.