Skip to main content

Epaper_26-04-14 ISB

Page 1


VOWS

g PM LAUDS PAKISTAN ’S ROLE IN BRINGING US, IRAN TO TALKS AFTER DECADES

g GLOBAL LEADERS, INCLUDING JAPAN PM, PRAISE PAKISTAN'S MEDIATION EFFORTS

g CEA SEFIRE HOLDS DESPITE DEADLOCK IN MARATHON ISLAMABAD NEGOTIATIONS

g SHEHBAZ VOWS CONTINUED

Washington and Tehran concluded in Islamabad without a formal agreement, though both sides signalled willingness to continue engagement The talks spanning nearly 24 hours transitioned from indirect exchanges to rare face-to-face discussions reflecting both the complexity of the dispute and the urgency of de-escalation For Pakistan, hosting the talks marked both a diplomatic risk and an op-

portunity to reassert its role on the global stage In a statement following the negotiations, Ishaq Dar thanked both sides for agreeing to a ceasefire and participating in dialogue International appreciation for Pakistan s role has continued to pour in In a telephone conversation, Japanese Prime Minister Sanae Takaichi praised Islamabad’s efforts, calling them vital for regional stability and global energy security

According to the Prime Minister s Office Shehbaz Sharif thanked the Japanese leader for her support and reiterated Pakistan s commitment to ensuring the ceasefire holds Both sides also expressed a desire to further strengthen bilateral cooperation and maintain close coordination The Islamabad talks were held after weeks of intense conflict that resulted in heavy casualties and rising global economic concerns Despite the absence of a breakthrough, the dialogue

Aurangzeb outlines reform drive, pushes

expor t-led

t

growth at Har vard moot

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday highlighted Pakistan s economic reform agenda stressing the need for structural changes and export-led growth while speaking at a highlevel discussion hosted by Harvard University Participating in a panel titled Pakistan s Economic Agenda: Stability Reform and What Comes Next during the Pakistan Conference 2026, the minister outlined key policy priorities aimed at ensuring long-term stability and sustainable growth

The session moderated by former State Bank governor Dr Reza Baqir, featured prominent economists including Professor Atif Mian of Princeton University and Nobel laureate Professor Daron Acemoglu of the Massachusetts Institute of Technology It brought together policymakers academics, and members of the Pakistani diaspora to examine the country’s economic outlook Aurangzeb described the ongoing Middle East conflict as a major global supply shock noting that Pakistan s immediate focus had been to maintain uninterrupted energy supplies despite limited reserves He said the government initially introduced blanket subsidies to shield consumers from rising costs later shifting to targeted support in line with fiscal constraints He maintained that Pakistan

cordingly exercising the sovereignty of the Islamic Republic of Iran in the territorial waters of our country is the natural right of the Iranian nation, IRIB cited Iran s forces as stating Al Jazeera reported that the forces statement read “Enemy-affiliated vessels” will have the right to pass through the Strait of Hormuz while other vessels will be allowed passage subject to regulations by Tehran ISLAMABAD

had managed the situation comparatively well avoiding major supply disruptions or law and order issues

On the external front, the minister pointed to strong debt management describing the recent Eurobond repayment as a “nonevent and expressed confidence in meeting upcoming obligations

Highlighting emerging opportunities, he noted a surge in transit trade through Karachi Port, surpassing last year’s volumes within weeks alongside progress in operationalising Gwadar Port He also cited record inflows under the Roshan Digital Account initiative as a sign of growing confidence among overseas Pakistanis

However, Aurangzeb cautioned that remittances alone cannot sustain long-term growth emphasising the need to boost exports and expand trade in services

Reflecting on reform challenges, he said Pakistan has long

understood the need for economic reforms but implementation and timely decision-making remain key hurdles, contributing to repeated reliance on IMF programmes

He reaffirmed the government’s commitment to reforms including broadening the tax base improving tax administration and raising the tax-to-GDP ratio Efforts are underway to modernise the Federal Board of Revenue through digitisation and automation to enhance transparency and efficiency

The minister also called for moving away from subsidy-driven industrial support toward competitiveness, highlighting recent tariff rationalisation measures aimed at integrating Pakistan into global markets On energy he noted that solar power generation has reached around 8

istan-flagged Shalamar which was heading towards the United Arab Emirates Das Island, altered course and moved away from the strait Iranian media also reported that tankers including Khairpur and Shalamar changed direction while moving eastward toward the strait and instead headed west, retreating from the route According to Iran’s Fars news agency, vessel movement through the Strait of Hormuz remains under the control of Iranian armed forces and ships are required to obtain prior approval before transit The developments come amid renewed uncertainty over maritime access to the strategic waterway following the collapse of ceasefire negotiations raising concerns over energy supply routes and regional shipping activity

TGold

and oil rise as US -Iran

COMMENT

Steady

Ethat this is

money and

Public ser vants in the line of public anger

gathers

C a r

The narrative is emotionally satisfying, easily understood, and politically convenient but it is also severely incomplete In Pakistan, public ire falls on all who represent the state at the point of delivery federal and provincial officers clerks inspectors hospital doctors and nurses teachers revenue staff and countless other government employees funded by taxpayers The term public officials broadly encompasses this entire group, anyone serving in government, regardless of rank, designation, or recruitment procedure Decades ago the British scholar Christopher Hood described this phenomenon as ‘blame avoidance In modern governance authority is dispersed across political leaders regulatory frameworks financial controllers, audit bodies, and procedural safeguards Yet visibility remains sharply concentrated at the point of delivery where the citizen meets the state That point is rarely a minister or lawmaker It is almost always a public official When something goes wrong blame settles where the public can see it Policies are conceived by political leadership Budgets are authorized through parliamentary processes Financial releases are controlled by treasury systems Procurement is bound by regulatory authorities Oversight is exercised by audit institutions and courts A public official operates within this web of rules and approvals an executor not the originator of most decisions Yet to the citizen standing in a queue, the distinction between policymaker and implementer is invisible The face behind the desk becomes the face of the state This is not unique to Pakistan The difference lies in how systems elsewhere have responded In the United Kingdom a long-standing convention draws a visible line between policy responsibility and administrative execution Ministers publicly own policy outcomes, while the administrative apparatus is protected by norms of neutrality and continuity Scrutiny remains, but systemic failures are not routinely personalized Singapore chose a different route It invested heavily in competence trust and shared ownership between political leadership and public officials Successes and failures are treated as collective outcomes Governance is understood as a chain, and a chain

cannot be judged by examining only one link Pakistan, however, has drifted into a space where responsibility is blurred but blame is personalized The irony sharpens when the accusation revolves around taxpayers money The popular perception assumes a one-way flow: citizens pay taxes and public officials consume them The reality is more nuanced The salaried class is Pakistan s largest documented taxpaying segment, with tax collected through withholding at source In the first quarter of FY2025-26 alone they contributed Rs 130 billion in income tax more than the combined collections from property transfers (Rs 60 billion) exporters (Rs 45 billion) and retailers (Rs 14 6 billion) Withholding from salaries has also shown strong growth, rising by 17 3% in a single year Public officials make up a notable portion of this group Many of those often accused of ‘living on taxpayers’ money’ are in fact among the country’s most consistent and

A curable neglect

of fulfilled duty After years of being told we must do more we did more First our defense capabilities were on centerstage when our forces neutralised multiple intruding aircraft in a display of precision, and now we have delivered the ultimate “more ” We have delivered peace If and when the Islamabad Accord is signed the PM should look toward the West and echo the words of the great poets: Woh jo qarz rakhtay thay jaan par woh hisaab aaj chuka diya (The debt we owed with our lives, that account has been settled today ) Pakistan is no longer a country defined by the names of the past; we are a nation that has secured the future For the first time in in my life the Green Passport doesn t feel like a burden It feels like a badge of honor

The writer is a senior energy sector leader based in

Growing up, I mar veled at the archives of PakistanÊs first three decades We were a nation of consequence Our diplomacy was formidable; POTUS, global royals and world leaders flocked to our cities. PIA was the gold standard of the skies. My home , Karachi, was a vibrant, modern metropolis, a city of trams, local trains and a public transpor t system that was the envy of the region. To see that glor y fade into the dilapidated infrastructure of todayÊs Karachi is a hear tbreak made worse by the toxicity of modern discourse

Usama QUreshi

Nepal’s youth succeeded where Bangladesh’s failed

Bangladesh s Nepal s youth did not allow their uprising to dissolve into fragmentation Instead they quickly rallied behind a political vehicle capable of translating public anger into electoral gains: the Rastriya Swatantra Party (RSP) led by Balendra Balen Shah a popular rapper turned mayor of Kathmandu, the party became the political embodiment of the anti-corruption movement Shah was not merely a protest figure; he was already a proven electoral winner his mayoral victory had demonstrated that an outsider candidate could defeat entrenched party machines that credibility mattered enormously when the country moved toward snap elections in March 2026 Bangladesh s experience followed a different trajectory the youth uprising of 2024 succeeded in forcing the resignation of Prime Minister Sheikh hasina ending one of the longest political eras in the country s history the protests were driven by many of the same frustrations seen in Nepal: corruption, economic stagnation, youth unemployment, and political repression Young activists played a central role in mobilizing mass demonstrations through social media platforms and student networks their ability to organize large-scale protests showed the remarkable mobilization capacity of the digital generation however, the Bangladeshi movement struggled when it came to the next stage: building a political alternative unlike Nepal where the RSP quickly emerged as a unifying political platform Bangladesh s gen Z activists failed to consolidate around a single political organization Several protest leaders attempted to create the National Citizen Party (NCP) but the effort came late and lacked the leadership structure necessary to challenge established political forces As a result the youth vote fragmented across multiple alliances during the February 2026 elections traditional parties such as the Bangladesh Nationalist Party (BNP) and Islamist political groups managed to capture

what distinguishes Nepal’s movement from

power plants and desalination facilities the Iranians have threatened to target similar facilities in the gulf Without the fresh water generated by desalination plants life in the uAE and Saudi Arabia would be pretty impossible the oil pipeline that crosses Saudi Arabia to the Red Sea and provides an alternative to exporting via the strait has been targeted already and could be hit again the Saudi pumping stations on the coast are also vulnerable Iran s houthi allies could seek to block energy exports via the Red Sea by targeting ships in the Bab-al-Mandab strait the malign political and strategic effects of this war also extend well beyond the Middle East Fuel price protests in Ireland almost brought the country to a halt last week leading the government to call in the army to

highways and ports and to announce €505mn

of fuel subsidies Ireland is likely to be just the first country to experience this kind of turmoil And less solvent governments in Asia and Europe are unlikely to have the fiscal firepower to buy off protesters heavily indebted France which has a record of fuel-price protests is already braced for trouble ahead of next year s presidential election Before the uS blockade was announced many in the oil industry

balance of power in the Middle East would be grim A single nation, Iran, would have a lucrative chokehold over the world s oil and gas supplies, turning it into a more extreme and concentrated version of the opec cartel of oil producers It could use those revenues to rebuild its

Avictory for the opposition tisza party, many of its supporters refused to allow themselves to imagine what victory might feel like After 16 years of rule by orbán s illiberal Fidesz party the electoral playing field had been so tilted against his opponents that some questioned whether an alternative was possible

ended It s the same feeling – the same, he told CNN from the banks of the Danube, where thousands of tisza supporters had gathered to hear the results Magyar the incoming prime minister told the crowd: “together we replaced the orbán regime together we liberated hungary We took our country back Although much remains unclear – from the size of tisza s majority in parliament to how it will begin the work of unpicking the system Fidesz built

orbán’s loss has shown the cul-de-sac of populism his defeat offers lessons for those who would seek to emulate him and for those who are glad to see him gone the first lesson is that it s hard to internationalize nationalism having governed so long as a champion of national sovereignty – pledging to defend hungary from the alleged threats of the European union and liberal ideology –

UK WILL NOT BACK BLOCK ADE OF STRAIT OF HORMUZ , STARMER SAYS

China, Russia to expand strategic coordination as Lavrov begins key visit to Beijing

China on Monday underscored the depth of its strategic partnership with Russia ahead of Russian Foreign Minister Sergei Lavrov’s official visit signalling continued alignment between the two powers on bilateral and global issues Addressing a regular press briefing, Chinese Foreign Ministry spokesperson Guo Jiakun said Beijing and Moscow had forged a comprehensive strategic partnership of coordination for a new era reflecting the growing scope and maturity of ties between the neighbouring countries Lavrov is scheduled to visit China from April 14 to 15 at the invitation of Chinese Foreign Minister Wang Yi During the visit the two sides are expected to hold indepth discussions on the future trajectory of bilateral relations, as well as cooperation in economic, politi-

cal and security domains Guo said the talks would also focus on major international and regional developments with both countries aiming to further align their positions on issues of shared concern Highlighting recent trends, the spokesperson noted that China and Russia have steadily deepened their traditional friendship and good-neighbourly relations in recent years He pointed to expanding cooperation across a wide range of sectors and described the relationship as one based on mutual benefit and win-win outcomes Beyond bilateral engagement Guo emphasised the importance of coordination between Beijing and Moscow on global affairs He said the two countries have maintained close communication on key international and regional matters contributing to what he described as a more equitable and

orderly multipolar world According to the Chinese official such coordination has also played a role in efforts to reform and improve global governance systems, while promoting international fairness and justice amid shifting geopolitical dynamics Lavrov’s visit comes at a time of heightened global uncertainty with ongoing conflicts and economic challenges placing increased importance on diplomatic engagement among major powers Analysts view the visit as part of broader efforts by both countries to reinforce strategic trust and maintain alignment on critical global issues

The upcoming meetings between Lavrov and Wang Yi are expected to further consolidate the China-Russia partnership, while offering both sides an opportunity to coordinate their diplomatic approaches in an increasingly complex international landscape

WASHINGTON n e w s d e s k

New York Mayor Zohran Mamdani marked his 100th day in office on Sunday with a rally to tout early successes and vow to follow through on his unabashedly socialist agenda

“I know there are many who use ‘socialist’ as a dirty word, something to be ashamed of ” the 34-year-old told a packed room in Queens They can try all they want but we will not be

CORPORATE CORNER

CHIEF MINISTER PUNJAB L AUNCHES PAKISTAN’S

Eid Milan Get-Together 2026 – A Celebration of Unit y, Joy & Commitment

The Consumers Association of Pakistan (CAP) successfully hosted its Eid Milan Get-Together 2026 at TFS Schooling System Karachi bringing together distinguished members of CAP and the Women Wing in a spirit of unity, networking, and celebration The event witnessed an impressive turnout of CAP leadership, executive members, and Women Wing representatives The guest list had been finalized in advance reflecting the strong engagement and commitment of members toward the organization s mission Chairman CAP Kaukab Iqbal along with senior leadership including Abdul Salam Dadabhoy (Sr Vice Chairman CAP), Marium Hina (Chairperson Women Wing), Furqan Bilal (Chairman Sindh), and Sarfaraz Ahmed (Sr Vice Chairman Sindh) warmly welcomed the participants and appreciated their continued dedication to consumer rights advocacy in Pakistan A key highlight of the evening was the Eid Cake Cutting ceremony led by Chairman CAP Kaukab Iqbal, along with Abdul Salam Dadabhoy (Sr Vice Chairman CAP) and Marium Hina, joined by other office bearers This symbolic moment reflected unity, harmony, and the collective strength of the CAP family The evening was marked by a vibrant and cordial atmosphere encouraging networking strengthening organizational bonds and celebrating the joyous occasion of Eid-ul-Fitr Another important highlight was the announcement of new appointments, reaffirming CAP’s commitment to expanding its leadership and enhancing its nationwide impact

Aamir Ibrahim Highlights Pakistan’s Digital Shift from Access to Impact at the Pakistan Conference at Har vard

Harvard Business School hosted the Pakistan Conference at Harvard 2026 on Sunday centered on the theme Pakistan From Potential to Performance, where Aamir Ibrahim emphasized that Pakistan s digital journey has entered a decisive phase, one where the focus must shift from expanding access to delivering measurable economic impact at scale Speaking at a panel discussion titled Pakistan s Digital Transformation: Opportunity Scale & What It Takes, Aamir Ibrahim joined global policymakers, investors, and industry leaders to examine how Pakistan can transition from connectivity-driven growth to execution-led outcomes The session was moderated by Ziad Bashir Director at Gul Ahmed Textiles and Vice President at the Pakistan Business Council and featured Mohammed Khaishgi Co-founder and CEO of TRG International, and Amer Hashmi, Co-Chairman of QGDC and former Chairperson of the Special Technology Zone Authority Aamir Ibrahim noted that Pakistan’s digital ecosystem has moved beyond its early stages with strong foundations established through mobile connectivity financial inclusion and rapid platform adoption He described mobile technology as a powerful equalizer and a crosssector enabler, transforming industries across finance, agriculture, and education, and unlocking new pathways for growth

FrieslandCampina Advances Decarbonization Agenda Through EPC Contract Signing with A2Z Energy Systems

KARACHI s ta f

The deployment marks a significant step in FCEPL’s long-term commitment to its decarbonization strategy and to its vision of embedding sustainable energy solutions across its operations The hybrid system being deployed at the FCEPL s operational sites is designed to improve energy cost efficiency, enhance power reliability, and reduce exposure to grid volatility amid rising tariffs It will enable optimized energy dispatch support peak shaving and strengthen load management driving greater operational resilience and delivering measurable financial benefits A sustainable and resilient energy infrastructure is central to our vision for the future, said Mr Kashan Hasan, CEO & Managing Director, FrieslandCampina “Our partnership with A2Z Energy Systems represents a pivotal step in our efforts to reduce the carbon footprint of dairy farming

Pakistan Customs arrest two Customs Preventive Officers

at Quetta

QUETTA s ta f f r e p o r t Pakistan Customs arrests its two preventive officers namely Arif Ali Jumani and Samiullah Achakzai on the charges of collusion and suspected swapping of silver bullions with lead Earlier a team was deputed to deposit seized 688 kgs of Silver in Pakistan Mint Lahore as per laid down rules and procedures on 5th April, 2026 Accordingly the two officials namely Arif Ali Jumani and Samiullah Achakzai Preventive Officers were deputed for the safe transportation of Silver who took over the possession of Silver packed in 36 sealed boxes from the State Warehouse Quetta These boxes were loaded and reached Quetta International Airport whereby all the boxes were delivered via PIA flight at Allama Iqbal International Airport, Lahore All the said sealed boxes were moved to Pakistan Mint Lahore which were unpacked in the presence of both officials and staff of the Mint After thorough examination it was revealed that 400kg out of 688 kgs silver bullions were reportedly fake (Lead instead of Silver) The Collectorate of Customs Enforcement, Quetta constituted a team to conduct fact finding inquiry in the matter During the inquiry it was revealed from the CCTV footage of Safe City Quetta that the Preventive Officers Arif Ali Jumani and Samiullah Achakzai who were responsible for the safe transportation of the Silver deliberately swapped the vehicle carrying original Silver Bullion with some other Vehicle carrying fake/ Lead bricks of the same denomination Accordingly FIR has been lodged and both Preventive Officers have been arrested Further legal proceedings and investigations are underway to determine involvement of other persons/officials in the crime

PUNJAB ASSEMBLY PANEL CLEARS BILL SETTING

MARRIAGE AGE AT 18 FOR BOYS AND GIRLS

Tproved the Child Marriage Restraint Bill 2026 which fixes 18 as the minimum legal age of marriage for both males and females in the province

The meeting was chaired by PML-N MPA Pir Ashraf Rasool, while members of the Women Parliamentary Caucus were also invited to observe the proceedings Under the earlier Punjab Child Marriage Restraint Act 1929 the minimum marriage age in Punjab was 18 for men and 16 for women According to the report, that position changed in February when Punjab Governor Saleem Haider promulgated the Child Marriage Restraint Bill 2026 as an ordinance

The ordinance is due to lapse in May 90 days after its promulgation making approval by the Punjab Assembly necessary for it to remain in force After clearing the standing committee, the bill will now be sent to the provincial assembly for final approval Committee discussion and objections During deliberations the standing committee said the proposed law

ally or negligently fails to prevent it that person would face rigorous imprisonment ranging from two to three years and a fine of up to Rs500,000

All offences under the proposed law have been declared cognisable, non-bailable and non-compoundable The cases would be tried exclusively by Courts of Session and proceedings would have to be concluded within 90 days

health had recently circulated on social media including images appearing to show him in a hospital setting However his son Advocate Ali Chaudhry clarified that he had not been moved to hospital and remained in custody

Speaking to Dawn, Chaudhry s counsel Rana Mudassar Umer said the former senator ’s health had deteriorated due to what he described as delays in treatment He said Chaudhry had previously undergone cardiac procedures in custody and later developed kidney complications followed by a gallbladder infection He added that in some instances he was returned to jail from hospital despite medical advice for continued treatment

Pakistan launches second nationwide polio campaign targeting over 45 million children

ISLAMABAD n e w S d e S k Pakistan on Monday launched its second nationwide antipolio drive of 2026, aiming to vaccinate more than 45 million children under the age of five across the country in a renewed push to eliminate the virus The campaign running until April 19 will be carried out by over 400 000 frontline health workers conducting door-to-door vaccinations across Punjab Sindh Khyber Pakhtunkhwa, Balochistan, Gilgit-Baltistan, Azad Jammu and Kashmir and Islamabad Vitamin A supplements will also be administered

PTI

raises alarm over Imran Khan's health, seeks immediate, independent medical access

ISLAMABAD S ta f f C o r r e S p o n d e n t

Pakistan Tehreek-e-Insaf (PTI) has voiced serious concern over the health of its founding Chairman and former Prime Minister Imran Khan warning that prolonged detention restricted medical access and extended solitary confinement have led to a worrying decline in his eyesight and overall condition

In a statement issued on Monday by the PTI Central Media Department the party stated that limited access to appropriate care and the absence of transparency around his medical evaluations have deepened public concern PTI maintained that medical assessments conducted without the presence of trusted physicians or family members lack credibility and do not meet basic standards of patient rights

PTI emphasized that timely and proper medical care is a fundamental right of every detainee and urged immediate action to safeguard Imran Khan s health and dignity

Meanwhile, PTI expressed grave concern over the rapidly deteriorating health of the party’s jailed Senator Ijaz Chaudhry demanding his immediate transfer to a fully equipped hospital for urgent and uninterrupted medical care

According to the latest medical assessment, his kidney disease has advanced to Stage III and specialist doctors have clearly stated that effective treatment is not possible within the prison environment

The party further stressed the presence of a family member during medical examinations to ensure transparency as well as the release of complete medical records including retinal imaging, OCT scans, visual field tests, and ERG reports for independent review

PTI demanded the immediate transfer of Imran Khan to Shifa International Hospital for a comprehensive and transparent medical examination particularly of his eye condition The party also called for unrestricted access for his personal physicians including Dr Faisal Sultan and Dr Asim Yousaf to examine and treat him without interference

PTI called upon the authorities to ensure that all elderly and ailing political prisoners particularly those incarcerated at Kot Lakhpat Jail and other facilities across the country are provided proper medical treatment without delay

The party stated that justice and humanity require that no individual s life be endangered due to prolonged detention in conditions unfit for critical healthcare

GILGIT

S ta f f r e p o r t

At least three policemen were martyred and five others injured when unidentified gunmen attacked a police vehicle in Gilgit-

Baltistan’s Diamer district on Monday officials said The police team was returning from Thor village after carrying out an operation to destroy poppy cultivation when assailants opened indiscriminate fire, Caretaker Home Minister Sajid Baig told media According to an incident report from Chilas RHQ Hospital three personnel were brought dead while five injured including a deputy superintendent of police (DSP) were shifted to the emergency department Hospital officials said three of the injured were undergoing surgery while two sustained minor wounds and were receiving treatment

The martyred officers were identified as Abdul Reheem Jami Muqabil Shah and Hazratullah Musa The injured included DSP Faqeer Muhammad, Rehmatullah, Nakeel Ahmed, Niamat Saeed and Muhammad Nadir Following the attack a prolonged exchange of fire took place between police and the assailants Additional contin-

gents of law enforcement agencies were dispatched to the area Baig said the team had just concluded a two-day operation targeting poppy crops spread across a large area In response to the incident a health emergency was declared in Diamer hospitals with medical staff directed to remain on

Turn static files into dynamic content formats.

Create a flipbook