In partnership with
Profit
PM aPProves Power-sector reforMs, orders focus on youth eMPloyMent Wednesday, 19 August, 2026 | 5 Rabiul Awwal, 1448
g
g
PM APPROVES AMENDMENTS TO NATIONAL ELECTRICITY PLAN 2023-27
g
INTEGRATED ENERGY PLAN 2027-60 GETS NOD TO ENSURE ENERGY SECURITY
PM ORDERS SPECIAL FOCUS ON YOUTH, WOMEN SKILLS, AND JOB OPPORTUNITIES
g
g
Rs 20.00 | Vol XVII No 145 | 8 Pages | Islamabad Edition
GOVT EYES AFFORDABLE POWER, RENEWABLE ENERGY, AND LOWER CIRCULAR DEBT
MARKET-DRIVEN TRAINING, GLOBAL CERTIFICATIONS TO BOOST OVERSEAS EMPLOYMENT
PM Shehbaz inaugurates Google's Islamabad office, hails major step in Pakistan's digital transformation ISLAMABAD
STAFF CORRESPONDENT
P
ISLAMABAD MIAN ABRAR
RIME Minister Shehbaz Sharif on Tuesday approved amendments to the National Electricity Plan 2023-2027 and a high-level design report for an Integrated Energy Plan covering 2027-2060, while directing authorities to accelerate efforts to equip young people, particularly women, with skills for emerging job opportunities. Chairing a meeting of the Cabinet Committee on Energy at the Prime Minister’s House, the prime minister ap-
proved proposed amendments to the National Electricity Plan, subject to further consultations with the Khyber Pakhtunkhwa government and the National Electric Power Regulatory Authority (Nepra). The proposed changes encompass integrated energy planning, expansion of power generation and transmission, renewable energy supply to remote areas, cross-border electricity trade, tariff design, conservation, system and market operations, risk management and administrative reforms. The amendments also seek to strengthen domestic capacity for fuel and technology, besides promoting research,
Bahawalpur, hazara provinces bill to be tabled next month: says durrani
Prime Minister Shehbaz Sharif on Tuesday formally inaugurated Google’s office in Islamabad, describing the development as a “major milestone” in Pakistan’s digital transformation and its growing partnership with the global technology giant. Addressing the inauguration ceremony, the prime minister congratulated Google’s team and Pakistan’s technology community, calling the opening of the office an important step towards a long-term partnership between Pakistan and the company. PM Shehbaz said cooperation with Google would help advance a sector of critical importance in the modern era and empower Pakistani youth with access to modern tools, techniques, and technologies. Welcoming a Google delegation led by Vice President Wilson L. White, the
development and digitisation in the power sector. Reiterating the government’s commitment to energy-sector reforms, PM Shehbaz stressed the need for
prime minister expressed confidence that the partnership would expand further and create new avenues of cooperation in Pakistan’s digital economy. Speaking on the occasion, Wilson thanked the prime minister for hosting the delegation and said Google had been investing in Pakistan for more than a decade. He said PM Shehbaz’s ambition to transform Pakistan into a $30 billion IT export hub was closely aligned with Google’s objectives. According to Wilson, Google had contributed more than Rs3.9 trillion to economic activity involving Pakistani businesses and households over the past decade, while supporting more than 960,000 jobs. He said Google was committed to supporting Pakistan’s IT export ambitions through investment in human capital, hardware manufacturing, and infrastructure for technology exports, as well as support for local businesses.
a sustainable and affordable power supply and structural measures to reduce the circular debt burden.
CONTINUED ON PAGE 03
Dar, Russian envoy discuss strengthening Pakistan-Russia ties ISLAMABAD STAFF CORRESPONDENT
LAHORE
STAFF CORRESPONDENT
Senior politician and former Information Minister Muhammad Ali Durrani announced on Tuesday that a constitutional amendment seeking the immediate restoration of Bahawalpur province and the creation of Hazara province will be tabled in Parliament next month. “The draft for constitutional amendment has been prepared for restoration of Bahawalpur province and creation of Hazara province that will be tabled in National Assembly and Senate in September,” Durrani said, addressing a press conference alongside political leader Imran Riaz. Durrani recalled that the Pakistan Muslim League-Nawaz (PML-N) had already presented a constitutional amendment bill in the National Assembly on January 29, 2019, for the creation of Bahawalpur and South Punjab provinces. “The people of Bahawalpur and Hazara have a legitimate expectation that the leadership of the ruling parties, the PML-N and Pakistan Peoples Party (PPP) will honour their commitment and get the bill passed without any further delay,” he said. Durrani said that the debate over the creation of new provinces in the country on an administrative basis had now “entered a decisive stage.” Recalling the struggle he had started in 2008 for the purpose, he said, “Alhamdulillah, today, after 18 years of our struggle, a general consensus has been reached throughout the nation that new provinces should be created in the country.” “This is the very path that can take Pakistan out of the quagmire of administrative, economic, and social problems,” he said.
Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday welcomed the positive momentum in Pakistan-Russia relations, stressing the need for continued cooperation in key areas and sustained high-level engagement to further deepen bilateral ties. Dar expressed these views during a meeting with Russian Ambassador to Pakistan Albert Khorev in Islamabad, according to the Foreign Office. “DPM/FM appreciated the positive momentum in bilateral ties and stressed the importance of continued cooperation in key areas, as well as sustained highlevel exchanges, to further strengthen Pakistan-Russia relations,” the Foreign Office said. The two sides discussed bilateral relations and regional developments, with Dar reiterating Pakistan’s consistent position that dialogue and diplomacy remained the only viable means of resolving differences and promoting regional peace and stability. The meeting comes amid growing diplomatic and economic engagement between Islamabad and Moscow, as Pakistan seeks to expand relations with Russia amid
an evolving regional and global geopolitical landscape. In July, Russia and China reaffirmed their commitment to strengthening strategic coordination and expanding cooperation across political, economic and regional spheres on the 25th anniversary of the Treaty of Good-Neighbourliness and Friendly Cooperation. In a joint article, Russian Ambassador Khorev and Chinese Ambassador Jiang Zaidong described the 2001 treaty as a landmark document that had laid the foundation for a comprehensive strategic partnership between Moscow and Beijing. The ambassadors also described the partnership as a “vital constant” amid sweeping global changes.
Pakistan has also been working to broaden economic engagement with Russia. In June, Energy Minister Awais Ahmed Khan Leghari said Islamabad and Moscow had agreed to sign an Economic Cooperation Programme covering the period up to 2030. Leghari had also said a recently signed readmission agreement was expected to facilitate visa arrangements and promote greater people-to-people contacts between the two countries. The latest meeting between Dar and Khorev underscores Islamabad’s efforts to maintain momentum in bilateral ties through regular political dialogue, economic cooperation and expanded high-level exchanges.
sanaullah backs sc order on Imran's transfer to shifa, says PtI approached 'right forum' ISLAMABAD
STAFF REPORT
PML-N leader and Special Adviser to Prime Minister Rana Sanaullah on Tuesday welcomed the Supreme Court’s decision to transfer PTI founder Imran Khan to Islamabad’s Shifa International Hospital, describing it as a “merit-based ruling” and saying the PTI had rightly pursued its case through the courts. Speaking to reporters outside Parliament, Sanaullah said the Supreme Court had independently decided the matter on its merits and that the government respected the ruling. “PTI pursued its case before the right forum, so the Supreme Court has given its decision according to the merits of the case. We also respect the Supreme Court’s decision,” he said. The Supreme Court had earlier ordered Imran’s transfer to Shifa International Hospital after considering a medical board report and a report submitted by the Adiala Jail superintendent. The reports recommended more frequent meetings with Imran’s immediate family and wife to help manage his blood pressure and anxiety, while also raising concerns about his health. Sanaullah, however, criticised the PTI for taking what he termed too long to seek judicial intervention. He said the party could have obtained relief earlier had it opted for legal remedies instead of resorting to protests and attempts to lay siege to jails. “Instead of resorting to agitation from the outset and laying siege to jails through unlawful means, if they had pursued the matter through the courts in accordance with the law, they could have received this relief earlier as well,” he said. Sanaullah said the PTI was now welcoming the court’s decision and praising the judiciary, but argued that it should show the same respect when judicial verdicts went against it. Asked about the possibility of talks with the PTI, he said Prime Minister Shehbaz Sharif had repeatedly offered negotiations, but the opposition had yet to respond positively. No PML-N position yet on new provinces On demands for the creation of new provinces, Sanaullah said the PML-N had neither held a meeting nor formulated a formal position on the matter. “Personally, I believe this is a debate in the media merely for the sake of debate,” he said, adding that provincial assemblies and Parliament were the appropriate forums to consider the issue. He said the government would present its position if any member or political party formally raised the matter in an assembly. Fazlur Rehman welcomes SC ruling JUI-F chief Maulana Fazlur Rehman also welcomed the Supreme Court’s decision, but said it had come too late. “I think they have delayed it for too long. This should have happened much earlier,” he told reporters, stressing that immediate action should be taken whenever a prisoner develops a health-related problem. Fazlur Rehman said the prolonged delay had unnecessarily turned the issue into a national controversy and caused anxiety and distress among PTI supporters. On the creation of new provinces, the JUI-F chief said his party was not opposed in principle to the creation of additional administrative units. He said the party had previously supported demands for a Bahawalpur province, a Seraiki province and a Hazara province, while also backing the idea of making the former FATA a separate province. He, however, distinguished the case of Sindh, saying its people were not prepared for the province to be divided. Fazlur Rehman also questioned the seriousness behind the renewed debate over new provinces, saying that merely raising the issue without preparation or a feasible plan could serve as a distraction from the country’s more pressing problems.
SC orders Imran Khan's transfer to Shifa Hospital amid health concerns ISLAMABAD
STAFF REPORT
The Supreme Court on Tuesday directed the government to shift incarcerated former prime minister Imran Khan to Islamabad’s Shifa International Hospital within two days for medical examination and treatment, while ordering authorities to facilitate weekly meetings between him and his family. A three-member bench headed by Justice Shahid Waheed and comprising Justices Naeem Akhtar Afghan and Ishtiaq Ibrahim issued the interim order while hearing petitions seeking Imran’s transfer to a hospital, access to his personal physicians and family members, and disclosure of his medical records. The court directed the relevant government authorities, in coordination with Shifa International Hospital, to constitute a medical board comprising a physician, general surgeon, internal medicine specialist, eye specialist and cardiologist to examine and treat the PTI founder. Imran’s personal physician, Dr Faisal
Sultan, and his sister Dr Uzma Khan were also permitted to remain associated with his medical examination and treatment. “We are mindful of the constitutional and legal obligation of the state, and consequently of the Supreme Court, to safeguard the life, health, dignity and security of persons in custody,” the court said. It observed that incarceration did not deprive a prisoner of the right to humane treatment and necessary medical care. The court further ordered the government to submit Imran’s complete medical record, including medical tests, reports, prescriptions, medical opinions, examination reports and details of treatment administered since his arrest. Authorities were also directed to provide details of meetings held during the previous three months between Imran, his family members and lawyers, as well as details of all cases in which he was accused, arrested, tried or convicted. The court ordered that Imran be allowed to meet his family members once a week and
speak to his sons by telephone twice a week. It also directed the government to make adequate security arrangements throughout his stay at Shifa Hospital. The court said the expenses of treatment and facilities provided by the hospital would be borne by Imran or his family. At the same time, the court barred Imran’s family, political party members and lawyers from sharing his medical condition or reports with the media or public until further orders. It also directed the PTI and Imran’s family to ensure that no public gathering was held within the hospital premises. The court warned that any misuse or non-compliance with its directives could lead to withdrawal of the facilities granted under the order. The complete medical reports concerning Imran’s examination and treatment at Shifa Hospital will be submitted to the Supreme Court at the next hearing, scheduled for September 16.
CONTINUED ON PAGE 03
Govt seeks modification of SC order on Imran's hospital transfer ISLAMABAD
STAFF REPORT
Law Minister Azam Nazeer Tarar on Tuesday said the government would approach the Supreme Court seeking “suitable modifications” to its order directing the transfer of jailed former prime minister Imran Khan to a private hospital in Islamabad for medical treatment. The Supreme Court earlier in the day ordered that Imran be shifted to Shifa International Hospital within two days and directed the constitution of a medical board comprising specialists to examine and treat him. Tarar said the government would request the apex court to modify the order so that Imran could instead be treated at a government hospital, arguing that medical facilities were available within the prison
system and at public-sector hospitals. He said medical experts could continue to be involved in Imran’s treatment but questioned the precedent of sending prisoners to private hospitals for medical examinations and treatment. “If such medical check-ups are conducted at private hospitals, thousands of other prisoners across Pakistan with health complications would also be entitled to similar treatment,” the minister said. Tarar maintained that treatment for many ailments could be provided within jails, while government hospitals had the requisite facilities for prisoners requiring treatment outside prison. He said the government’s request to the Supreme Court would seek to bring the order “within the proper parameters of the Constitution and law”.
02 NEWS
Wednesday, 19 August, 2026 | ISLAMABAD
OCAC FLAGS DISCREPANCY IN PETROL PRICING, URGES OGRA TO REVIEW AUG 12, 14 CALCULATIONS
T g
mination of daily prices was essential for the orderly functioning of the downstream petroleum market, particularly during the initial rollout of the revised mechanism. The OCAC recalled that at a meeting convened by Ogra's finance department on July 19, the revised notification was presented to industry representatives, who were told prices would be determined strictly according to the prescribed formula. The industry body urged Ogra to apply the mechanism consistently and transparently, saying any changes or refinements should go through the prescribed process rather than unilateral deviations. It also sought compensation for any under-recovery suffered by affected oil marketing companies on sales made between August 12 and August 17, subject to reconciliation and verification. Prompt corrective action, the OCAC said, would help maintain the transparency, predictability and credibility of the new daily pricing mechanism and ensure uniform application of the methodology approved by the federal government.
INDUSTRY BODY SAYS PSO IMPORT CARGO PREMIUMS WEREN'T FULLY REFLECTED UNDER NEW DAILY PRICING MECHANISM PROFIT
Monitoring report
HE Oil Companies Advisory Council (OCAC) has asked the Oil and Gas Regulatory Authority (OGRA) to review motor spirit (MS/PMG) price calculations for August 12 and 14, saying eligible Pakistan State Oil (PSO) import cargoes were not fully reflected under the government's new daily petroleum pricing mechanism. In a letter to OGRA's chairperson, the
Power tariff likely to rise by Rs2.50/unit for July as govt seeks to recover over Rs34b under FCA PROFIT
Monitoring report
The government is likely to raise the electricity tariff by around Rs2.50 per unit for July 2026, aiming to recover more than Rs34 billion from Discos and K-Electric consumers under the monthly Fuel Charges Adjustment (FCA) mechanism. As per reports, the higher positive FCA is mainly attributed to increased electricity consumption during July, combined with reliance on costlier fuels such as spotmarket LNG and furnace oil to meet peak-hour demand. The National Electric Power Regulatory Authority (Nepra) had recently approved a positive adjustment of Re0.7503 per unit for June 2026, against a request of Rs1.20 per unit from the Central Power Purchasing Agency-Guaranteed (CPPA-G). Nepra will account for various cost factors in CPPA-G's FCA request, after which separate FCAs will be calculated for each Disco based on energy procured from CPPA-G, bilateral contracts with SPPs/CPPs, and net-metering arrangements within each Disco's basket. The expected hike comes as the industrial sector already grapples with high energy costs, with exporters under added pressure amid the deteriorating Middle East situation. During a recent discussion, Nepra raised concerns over partial-loading charges of around Rs4.9 billion and sought CPPA-G's strategy for reducing them. CPPA-G said the charges stemmed not from operational inefficiencies but from reduced daytime demand due to rising rooftop solar generation, which forces power plants to run at partial load during solar hours before ramping up for evening peak demand. CPPA-G pledged efforts to minimise these charges, which Nepra noted were about Rs1 billion higher in June 2026 than in June 2025. The Independent System and Market Operator (ISMO) added that shutting down plants to avoid partial-loading charges would instead trigger significant start-up costs.
FCC allows corporates to adjust tax credits against super tax, overturns IHC ruling in Zong case PROFIT
Monitoring report
The Federal Constitutional Court (FCC) has ruled that corporate taxpayers can adjust eligible tax credits against the super tax, overturning an earlier Islamabad High Court (IHC) decision that had rejected the practice. According to media reports, Justice Aamir Farooq authored the six-page detailed judgment while allowing appeals filed by mobile operator Zong. The court held that tax credits arising from tax deducted at source could be adjusted against the super tax, ruling that the credit available under Section 168 of the Income Tax Ordinance constitutes a separate statutory right of the taxpayer. Preventing taxpayers from making such adjustments and instead requiring them to seek refunds would run contrary to legislative intent, the court said, adding that fiscal laws should be interpreted in a manner that facilitates taxpayers and gives effect to the benefits provided under the law. The FCC directed the Federal Board of Revenue (FBR) to examine and decide Zong's claim for adjustment in accordance with the law, following a notice issued in the case. According to case records, the FBR had issued a notice to Zong seeking payment of super tax.
industry body said the omission had created significant gaps between the announced prices and those calculated under the approved formula. The revised mechanism, notified by the Ministry of Petroleum on July 17, requires the weighted average of actual premiums, incidentals and customs duty on PSO-imported cargoes to be used whenever MS imports have taken place during the prescribed rolling seven-working-day period, according to the OCAC. The council said the price effective August 12 appeared to include the premium for
MT Nave Atropos, which sailed on August 5 at $10.87 a barrel, but excluded the premium for MT Khairpur, which sailed on August 10 at $23.9 a barrel. OCAC's calculations put the resulting ex-refinery price at Rs216.93 a litre, against its own calculation of Rs228.33, a difference of about Rs11.39 a litre. A similar discrepancy was identified in the PMG price determination effective August 14, the council said, listing MT Nave Atropos, MT Khairpur, MT JN Safe and MT Twerk as cargoes requiring reconciliation against the applicable seven-working-day pe-
riod. Based on its calculations, the treatment of these cargoes created a difference of about Rs8.30 a litre in the cost-and-freight component. The OCAC clarified that its request was not for an additional margin or preferential treatment, but for proper implementation of the government-approved methodology and recognition of actual eligible import costs incurred by oil marketing companies. The council also noted that the daily price for August 15 had not been announced despite the reported availability of the required Platts data, adding that timely deter-
Govt weighs deploying PNSC vessels as Pakistan's GCC exports fall 12% due to Hormuz crisis g
PROFIT
Monitoring report
The government is exploring options, including deploying Pakistan National Shipping Corporation (PNSC) vessels, to sustain exports to Gulf Cooperation Council (GCC) countries after Pakistan's exports to the region fell 12% and imports dropped 35% in July 2026 compared to a year earlier, Business Recorder reported. According to the Commerce Ministry, exports to the UAE declined 9.5% to $144.6 million in July 2026, from $159.8 million in July 2025. Exports to Saudi Arabia fell 20.5% to $42 million, Oman dropped 3.7% to $15.8 million, Bahrain plunged 50.8% to $2.3 million, Kuwait declined 7.4% to $7.4 million, and Qatar fell 4.2% to $8.7 million. Imports from GCC countries fell 32.5% year-on-year to $1.0009 billion in July 2026, from $1.4825 billion in July 2025.
COMMERCE MINISTRY PROPOSES KARACHI FEEDER LINKS TO FUJAIRAH, KHOR FAKKAN AND OMAN, PLUS GWADAR-GCC FERRY SERVICES AND PNSC VESSELS
Imports from the UAE dropped 34.2% to $380.7 million, Saudi Arabia fell 4.7% to $295.3 million, Bahrain declined 44.4% to $15.1 million, Kuwait plunged 92.8% to $9.5 million, and Qatar collapsed 96.1% to $10.2 million. Imports from Oman, however, rose 67.7% to $290.2 million. On a month-on-month basis, exports in July fell 2.7% compared with June. Exports to the UAE rose 15.7%, Kuwait 19.4% and Qatar 88%, while exports to Saudi Arabia, Oman and Bahrain declined 34.5%, 34.6% and 18.2%, respectively. Imports in July fell 32.5% compared with June, with declines of 17.9% from the UAE, 41.4% from Saudi Arabia, 49.9% from Oman and 93.2% from Qatar, while imports from Bahrain and Kuwait rose 295.8% and 72%, respectively.
The Commerce Ministry attributed the sharp decline to deteriorating maritime security following the collapse of the interim US-Iran truce in July 2026, which it said had severely disrupted global shipping networks. The ministry said the Strait of Hormuz normally handles 70 to 80 commercial vessel crossings daily, but traffic had fallen to as few as six vessels a day, leaving hundreds of ships anchored outside the strait. It said the Iranian Revolutionary Guard Corps had asserted that vessels must obtain its permission to transit the waterway, enforcing the position through threats. The ministry added that Houthi attacks on Saudi oil facilities and along the Red Sea coast had triggered threats against Saudi-linked shipping in the Bab al-
Govt allows import of one million tons of wheat through TCP tender g
ECC'S STEERING COMMITTEE TO OVERSEE PRE-SHIPMENT INSPECTION AND PROVINCIAL FUNDING CONDITIONS, AS PASSCO'S STRATEGIC RESERVES ARE NEAR DEPLETION PROFIT
Monitoring report
The federal government has cleared the way to import one million tons of wheat after all prerequisites were met, with the Trading Corporation of Pakistan (TCP) now set to run an open tender and competitive bidding process to secure the shipment, The News reported. The Economic Coordination Committee (ECC) of the Cabinet had earlier approved the wheat import with specific conditions attached, forming a steering committee to ensure those prerequisites were satisfied before the process could move forward. The conditions include a pre-ship-
ment inspection, along with provinces either providing their required share of funds upfront or authorising the Finance Ministry to deduct the amount from their NFC disbursement. Deputy Prime Minister Ishaq Dar confirmed that the government would proceed through TCP-issued tenders, following the corporation's standard procurement procedure. Pakistan's total wheat output stood at around 28.6 million tons this year, a figure officials consider adequate to cover domestic needs. Despite this, official data suggests wheat stocks exist in the country but have been withheld by hoarders and middlemen anticipating a sharp price
spike they could exploit. The import decision is being framed as a stopgap measure to prevent a jump in flour and roti prices while that supply remains locked away. The situation traces back to a procurement failure by both federal and provincial governments, who did not buy wheat despite having IMF clearance to do so. As a result, PASSCO's strategic reserves, once at 1.8 million tons, have been drawn down close to zero once provincial demands are factored in. Faced with this shortfall, the ECC opted to import a million tons of wheat, while setting up the steering committee to spread accountability for the process across stakeholders.
FBR demonstrates property, business capital features in tax return system to Karachi tax bar g
MECHANISMS TO TRACK INVESTMENTS IN IMMOVABLE PROPERTY, ADD MULTIPLE BUSINESS CAPITAL ENTRIES, DECLARE TAX UNDER RELEVANT SECTIONS AND RECORD INHERITED PROPERTY PROFIT
Monitoring report
The Federal Board of Revenue (FBR) Domain Team demonstrated key features of the income tax return system to the Karachi Tax Bar Association (KTBA), including mechanisms to track investments in immovable property, add multiple business capital entries, declare tax under relevant sections and record inherited property. The demonstration was held during an online meeting with KTBA leadership and members as part of the FBR’s ongoing consultation with tax practitioners on the design and functionality of the income tax return and broader
taxpayer experience. The FBR team said the existing system was functioning without technical bugs or major flaws, while most queries raised by participants were addressed through live demonstrations and clarifications. The team demonstrated how taxpayers can record investments in immovable property, enter multiple business capital holdings, declare tax under relevant provisions and register inherited property. It also clarified that certain information, including vehicle chassis numbers, is optional. KTBA President Mehmood Bikiya welcomed the FBR’s response to the association’s concerns and appreciated
the development of a more responsive and user-friendly return system. Vice President Saud ul Hasan also commended the Board for maintaining direct engagement with the business community. The association proposed several changes for future versions of the return, including allowing Excel file uploads to simplify data entry, reviewing the requirement to enter financial data in the following year’s return and adding a system-generated PDF explaining legal provisions relating to residence status. KTBA also raised issues concerning the timing of refund applications, deemed assessment orders and revision of returns. The FBR Domain Team clarified that these matters fall under existing policy, including the 15-day deemed assessment rule, and have been referred to the Policy Wing for consideration. The FBR said it would continue consultations with tax practitioners and other business representatives to improve the digital filing system and make tax returns simpler, more transparent and taxpayer-friendly.
Mandab Strait, effectively halting commercial shipping between Pakistan and GCC countries and forcing Pakistani exports to the region to be transported by air in July. To mitigate the disruption, the Commerce Ministry has proposed prioritising dedicated feeder links connecting Karachi directly with safer lower Gulf and Arabian Sea bypass points, including Fujairah, Khor Fakkan and Omani ports outside the Hormuz chokepoint. It has also proposed fast-tracking multi-purpose passenger-cargo ferry services between Gwadar and GCC ports, aiming to position Gwadar as an independent regional logistics and trade fallback option, alongside the potential deployment of PNSC vessels to maintain export connectivity with GCC markets.
Pakistan’s refineries cross $1b export mark for first time in FY26 PROFIT
Monitoring report
Pakistan's oil refining industry has surpassed the $1 billion export threshold for the first time, with the country's five major refiners collectively earning an estimated $1.046 billion in FY26 — emerging as an unexpected contributor of foreign exchange at a time when the merchandise trade deficit has swelled to nearly $40 billion, according to a news report. Parco topped the list with around $277 million in exports, followed closely by Cnergyico PK Limited at approximately $258 million, together accounting for $535 million, or more than half of the sector's total export proceeds. National Refinery Limited added about $238 million, Pakistan Refinery Limited contributed roughly $200 million, and Attock Refinery Limited brought in close to $73 million. The refining sector's export earnings amounted to nearly 3.5% of Pakistan's total merchandise exports of $30.139 billion for FY26. The milestone stands out against a backdrop of deteriorating trade fundamentals. Merchandise exports fell by about 5.9% year-on-year, dropping from $32.04 billion in FY25 to $30.139 billion, while imports climbed to roughly $69.76 billion — widening the merchandise trade deficit to around $39.62 billion. Against that backdrop, the refining sector's billion-dollar export haul marks a meaningful foreignexchange contribution from an industry more typically associated with driving up the country's petroleum import bill. A key factor behind the export surge has been the steep drop in domestic furnace-oil consumption, largely due to the power sector scaling back its use of the fuel. Since refineries produce several petroleum products simultaneously, they cannot halt furnace-oil output while continuing to manufacture petrol, high-speed diesel, jet fuel and other products. As domestic demand for furnace oil has weakened, refiners have periodically faced inventory buildups, at times forcing them to cut crude-processing rates or even shut down units entirely. Exporting the surplus has served as a pressure valve, allowing refiners to clear excess stock, sustain crude throughput and keep supplying essential fuels to the domestic market. In response, the Oil and Gas Regulatory Authority (OGRA) has permitted refineries to export surplus furnace oil, provided they maintain sufficient reserves for local consumption.
Pakistan refiner Cnergyico expands US crude imports amid Hormuz disruption g
CNERGYICO WEIGHS SPOT VS LONG-TERM DEALS, EYES US EXIM FINANCING FOR $1.2B UPGRADE AS PAKISTAN DIVERSIFIES SUPPLY AFTER HORMUZ DISRUPTION KARACHI reuters
Pakistan's largest refiner Cnergyico is buying more U.S. crude as Islamabad seeks to diversify the country's energy supplies after disruption caused by the Iran war exposed its dependence on Gulf routes. Pakistan also wants to increase imports from the U.S. to help narrow its trade surplus and secure reductions in trade tariffs imposed by President Donald Trump.
Cnergyico, which first bought U.S. crude last year, is also considering spot purchases against longer-term contracts with Vitol and other suppliers based on "pricing, reliability and supply security", Vice Chairman Usama Qureshi told Reuters. Cnergyico imported about 8.1 million barrels of U.S. crude over nine months, including 7.1 million worth about $750 million in the fiscal year ended June, Qureshi said.
REFINERS' PURCHASES LEAD U.S.
IMPORT INCREASES: Pakistan's U.S. import payments rose by $914 million to $3.27 billion in that fiscal year, central bank data shows, making Cnergyico's purchases equivalent to about 80% of the increase. The refiner could increase U.S. crude purchases if Pakistan's proposed EXIM Bank trade-finance facility is extended to it, Qureshi said. Islamabad pitched the facility last month to allow Pakistani buyers to defer payments to U.S. exporters for up to three years. Pakistan mainly imports oil from Saudi Arabia
and the United Arab Emirates, with about 90% of its oil and liquefied natural gas imports passing through Hormuz before the war. Rising fuel costs have put pressure on the Pakistani government to act, as a new round of protests against inflation and fuel prices erupted this week. Islamabad has also sought alternatives including Saudi crude via Yanbu, located on Saudi Arabia's Red Sea coast. Qureshi added that Cnergyico was evaluating a second offshore mooring linked to its storage network to import and export re-
fined products on large tankers outside Karachi's constrained ports, as part of a $1.2 billion upgrade to meet Euro V standards, cut furnace-oil output and expand capacity to about 200,000 barrels per day. Fawad Basir, head of research at KTrade Securities, said Middle East disruptions highlighted the risks of relying on a single supply route. Using Very Large Crude Carriers for U.S. crude could cut freight costs by 25% to 30%, while a second Single Point Mooring would speed vessel turnaround.
NEWS 03
Wednesday, 19 August, 2026 | ISLAMABAD
WORLD BANK DOWNGRADES $245M BALOCHISTAN FLOOD REHABILITATION PROJECT OVER HOUSING BENEFICIARY CAP
T
PROFIT
STAFF REPRT
HE World Bank has downgraded the implementation rating of its $245 million Integrated Flood Resilience & Adaptation Project (IFRAP) in Balochistan to ‘moderately unsatisfactory’, mainly over the government’s decision to cap beneficiaries under the resilient housing component, Dawn reported. The global lender, in a public disclosure dated August 12, said more than 74,000 households had received the first tranche of housing support, but the beneficiary cap, a financing gap for remaining eligible households, unresolved grievances and communiproblems were putting cation implementation at risk. Earlier, World Bank Country Director Boloromaa Amgaabazar had expressed concern over limiting housing support to 62,966 first-tranche beneficiaries and subsidy sup-
port to 97,000 people. Read This: World Bank warns fund redirection from housing programme could deepen poverty in Balochistan Under the irrigation, roads and bridges component, a project director has been appointed, the project implementation unit strengthened, designs and bidding documents are nearing completion and procurement has begun. However, none of the three project development objective-linked output indicators has been achieved. Implementation of the early warning system and hydro-met component has improved following the appointment of a new deputy project director and award of the automatic weather station contract, but the system integrator and several critical procurements remain pending. The World Bank also raised the risks related to sector strategies and policies and technical project design to ‘High’ from ‘Substantial’. Institutional capacity risks were also raised to ‘High’ from ‘Moderate’, while political and gover-
nance risks remained ‘High’. A technical mission found the project ‘non-compliant’ with environmental and social standards on stakeholder engagement and disclosures as of July 6, after significant changes to the project scope were made without direct engagement with affected and
PM approves power-sector reforms, orders focus on youth employment CONTINUED FROM PAGE 01
The committee also approved the High Level Design Report for the Integrated Energy Plan 2027-2060. Officials said the long-term plan would involve stakeholders beyond federal and provincial governments and focus on strengthening energy security and economic competitiveness. Under the proposed framework, strategies would be developed to provide electricity to industrial and domestic consumers at reasonable rates while promoting lowcarbon and environment- and climate-friendly sources of power generation. The Power Division also briefed the committee on the power-sector circular debt position for fiscal year 2025-26, while the Petroleum Division presented a report on gas-sector circular debt during the same period. PM ORDERS SKILLS DRIVE FOR YOUTH, WOMEN Separately, chairing a review meeting on implementation of the National Youth Employment Policy, PM Shehbaz directed authorities to give particular attention to equipping young people, especially women, with marketable skills to help them secure new employment opportunities. He called for greater focus on employment opportunities for youth in Balochistan and Khyber Pakhtunkhwa and stressed stronger inter-ministerial coordination for effective implementation of the policy. The prime minister said reforms had been introduced in the National Vocational and Technical Training Com-
OGRA moves to realtime digital tracking of petroleum stocks PROFIT
STAFF REPORT
The Oil and Gas Regulatory Authority (OGRA) is developing a digital system to obtain realtime petroleum data directly from oil marketing companies (OMCs) and refineries through Enterprise Resource Planning (ERP) systems and monitor stock levels using Automatic Tank Gauging (ATG) sensors. According to official documents, the initiative is aimed at improving the accuracy, reliability and timeliness of petroleum stock and supply data for better planning and monitoring of the supply chain. OGRA has already developed the digital platform for supply-chain visibility, while integration of oil pipelines with ERP systems is under way and is expected to be completed by the end of September 2026. A key milestone is the direct collection of data from OMCs and refineries through their ERP systems, along with stock positions generated through ATG sensors.
mission (NAVTTC) and Small and Medium Enterprises Development Authority (SMEDA) to align Pakistan’s skilled workforce with domestic and international business and industrial requirements. “Providing dignified employment to the country’s skilled and talented youth is among the government’s top priorities,” he said, adding that the launch of the National Youth Employment Policy reflected the government’s efforts to expand opportunities for young people. PM Shehbaz directed that progress on the policy be reviewed every month and ordered an awareness campaign to inform young people about the opportunities and benefits available under the initiative. The meeting was informed that NAVTTC was taking measures to provide workers with international certifications and proficiency in foreign languages required for overseas employment. Young people are also being trained according to international market demand to improve their prospects of securing jobs abroad, officials said. The government’s Digital Youth Hub is providing information on domestic and international employment opportunities through a single platform, the meeting was told. Youth Development Cells are also being established in educational institutions to provide career counselling and guidance while connecting students with employment and skills-development opportunities. Chairman of the Prime Minister’s Youth Programme Rana Mashhood briefed the premier on progress made under his directives.
SC orders Imran Khan's transfer to Shifa Hospital amid health concerns CONTINUD FROM PAGE 01
The bench also took exception to an October 24, 2025 Islamabad High Court order in which contempt proceedings against jail authorities had been dropped without recording reasons. The Supreme Court observed that the absence of reasons appeared to run contrary to principles of fair trial and natural justice. Notices were issued to the respondents, who were directed to submit written explanations and appear before the apex court at the next hearing. PTI WELCOMES ORDER The PTI welcomed the Supreme Court’s decision, describing it as an important step towards safeguarding Imran’s right to health and human dignity. Party Secretary General Salman Akram Raja said the ruling had provided a “ray of hope” after what he described as a year-long demand for Imran’s transfer to a hospital. He assured the court that the PTI would comply with its directions and would not allow supporters to gather outside Shifa International Hospital. Khyber-Pakhtunkhwa Chief Minister Sohail Afridi also welcomed the order and urged party workers to remain peaceful and respect the court’s directives.
Power demand rebounds 7.1% in July as hydel, coal generation hit records PROFIT
STAFF REPORT
Pakistan’s power demand rose 7.1% yearon-year to 15,122 megawatts (MW) in July 2026, exceeding the seven-year July average by 2.3%, while record hydel and higher coalbased generation helped offset expensive thermal power amid disruptions to LNG supplies, according to data compiled by Arif Habib Limited. Although July demand remained below the 15,678MW peak recorded in July 2021, the increase provided a positive signal for power-sector activity and broader economic growth. NEPRA currently projects power demand growth of 1% year-on-year for calendar year 2026. Power generation exceeded the NEPRA reference level, supported by lower tariffs.
vulnerable groups. The government has also not submitted the revised Project Implementation Manual required under the financing agreement, resulting in the relevant legal covenant being classified as ‘Not Complied With’. Annual work plans and budgets for
FY2026-27 are also pending for most project implementation units, except those handling early warning and hydro-met services. The World Bank warned that delays could affect the eligibility of expenditures incurred during the current fiscal year. The project management and institutional strengthening rating was consequently downgraded to ‘Moderately Unsatisfactory’. The rating will be reviewed during the next mission planned for October. The Ministry of Planning and Development said it remained in constant contact with the World Bank over implementation of key development projects approved by the Executive Committee of the National Economic Council (Ecnec) on the recommendation of the Government of Balochistan. The ministry said its priority was to ensure international financial support directly addressed the needs of Balochistan’s citizens and expressed hope that implementation would continue through approved mechanisms and processes.
06 NEWS
QATAR PUSHES FOR FULL IMPLEMENTATION OF GAZA CEASEFIRE PLAN
Q
DOHA
AGENICES
ATAR said on Tuesday that it is pushing for the full implementation of the agreed ceasefire plan in the Gaza Strip despite Israeli “intransigence.” Qatar Foreign Ministry spokesman Majed al-Ansari told a news conference that Doha remains committed to moving forward with efforts to implement the Gaza ceasefire plan. “What we are demanding is that both parties to the Gaza agreement fully implement the agreed plan,” he said. Israeli Prime Minister Benjamin Netanyahu has rejected a 15-point Gaza ceasefire plan and insisted that Hamas disarm first, although the roadmap issued by US President Donald Trump’s Board of Peace on July 31 calls for Hamas’ disarmament and an Israeli withdrawal to proceed gradually and in parallel.
O
On August 4, Trump's Board of Peace had assured Netanyahu that Israel's withdrawal in Gaza would only begin after Hamas's complete disarmament. Two members of Netanyahu's security cabinet had urged a vote to tear up the deal championed by Trump after the board released a text that called for Israel to begin a phased withdrawal. Read: Kushner urges Netanyahu to 'not create obstacles' in Gaza peace plan: report Turning to the broader regional crisis, Ansari said Qatar’s current efforts are focused on defusing tensions and returning the US and Iran to their memorandum of understanding and the negotiating table. “At this stage, our efforts are focused on stopping the escalation and bringing both sides of the crisis back to the dialogue table,” he said. He added that Qatar wants an agreement on reopening the Strait of Hormuz and a ceasefire to be reached simultaneously.
On the Iranian pilots who entered Qatari airspace, Ansari said Qatar found the remains of one of the two pilots on March 19 and later handed them over to the Iranian side. He added that Tehran had not responded to Qatar’s invitation to send a technical team to observe the search operations. Separately, on August 17, an Iranian military official said Qatar should let an Iranian team in to investigate the fate of held Iranian pilots, Iranian media reported. Mohammad Baqerzadeh, the Commander of Missing in Action Search Committee of Iran’s Armed Forces General Staff, said the air force and fact-finding team had been waiting for months to enter Qatar, according to the semi-official Tasnim news agency. Baqerzadeh accused Qatari officials of repeatedly delaying the investigation and preventing the pilots' return to Iran. He called for the International Committee of the Red Cross to urgently follow up on the case.
INDEPENDENCE DAY CELEBRATIONS
Pakistan’s Message to the World — We Are One SAIF AWAN
NLY living nations celebrate their freedom with pride and remain connected to their traditions. Nations that continue to remember their martyrs and heroes are the ones that remain alive in history. Every year on August 14, the Pakistani nation celebrates Independence Day with immense enthusiasm and patriotic fervour. However, this year’s Independence Day was particularly significant and distinctive for the people of Pakistan. First, in May 2025, Pakistan inflicted a historic and humiliating defeat on India in Marka-e-Haq. Then, during the IranUS conflict, Pakistan played the role of a mediator. Most importantly, Pakistan, Saudi Arabia and Türkiye entered into a joint defence agreement. These three developments have become symbols of pride for the Pakistani nation. Pakistan, which was repeatedly portrayed at the international level as a dangerous country, is today playing a central role in major global decisions. Pakistan’s name is being heard at every major international forum. The same Western media that once associated Pakistan with terrorism is today referring to Pakistan as a peacemaker. This is the outcome of Pakistan’s successful diplomacy. The credit for this certainly goes to Prime Minister Shehbaz Sharif, Field Marshal Syed Asim Munir and Foreign Minister Ishaq Dar, who, through their continuous hard work, commitment and dedication, have played a central role in strengthening Pakistan’s image and presenting a more positive face of the country at the global level. Those who repeatedly attempted to weaken, destabilise and break Pakistan and burden it with multiple crises have failed. Today, the same Pakistan is shining on the global horizon like the crescent moon of the fourteenth night. The way the Pakistani nation celebrated Independence Day this year with unprece-
dented enthusiasm and patriotic spirit had few parallels in the past. There was an atmosphere of joy on people’s faces, and Punjab Chief Minister Maryam Nawaz played the most important role in bringing this happiness back to the people. Lahore is the heart of Pakistan, and every major event held here carries a message that reaches the world. On the directives of Punjab Chief Minister Maryam Nawaz, the Punjab Information and Culture Department formally launched Independence Day celebrations. Under the leadership of Provincial Minister for Information and Culture Azma Zahid Bukhari, an Independence Day music concert was organised at Alhamra Cultural Complex. Secretary Information Tahir Raza Hamdani also attended the event. Renowned Pakistani singers Rahat Fateh Ali Khan, Fakhir Mehmood and Bilal Saeed performed at the Independence Day music concert, which was attended by a large number of citizens. People enthusiastically sang along to national songs, raised slogans of “Pakistan Zindabad” and “Pak Army Zindabad,” and paid tribute to the martyrs and Ghazis of Marka-e-Haq. Addressing the gathering, Provincial Minister for Information Azma Bukhari said that freedom is a great blessing and must be valued. She said that the country was not achieved without sacrifice; rather, our forefathers made tremendous sacrifices for Pakistan. The journey Pakistan has undertaken from 1947 to the present is highly commendable. She said that Pakistan is being accorded respect at every forum today. Whether the issue is mediation, stopping wars or making major international decisions, Pakistan’s name is being mentioned everywhere. Pakistan now stands among the world’s powerful nations. She said that on Independence Day, the nation must renew its resolve to work collectively for Pakistan’s progress. Under the leadership of Prime Minister
Shehbaz Sharif and Field Marshal Syed Asim Munir, Pakistan is moving forward. At the same time, Chief Minister Maryam Nawaz has earned nationwide recognition because of her performance. This is why people in other provinces are also openly expressing the wish that they, too, had Maryam Nawaz as their chief minister. Today, the entire country acknowledges Maryam Nawaz’s performance, she said, expressing the hope that all other provinces would also progress and move forward like Punjab. The entire nation also paid tribute to the martyrs who sacrificed their lives for the country and saluted the mothers who gave their sons in the service of the motherland. At Liberty Chowk and Minar-ePakistan, spectacular fireworks displays were held on the night of August 13 and August 14. Thousands of people witnessed these memorable moments and celebrated to the tunes of national songs. At Liberty Chowk, renowned singers Arif Lohar, Bilal Saeed and Natasha Baig captivated the audience with their performances, further strengthening the spirit of Independence Day among the citizens. The Independence Day events held in Lahore also received prominent coverage from the international media. The lighting show at Minar-e-Pakistan and the fireworks at Liberty Chowk will be remembered and cited as examples of the celebrations. Such entertainment and moments of collective happiness were much needed by the nation. These celebrations reflected Maryam Nawaz’s love for and commitment to Pakistan. When love for one’s homeland resides in the heart, it naturally finds expression in such moments of celebration and national pride. Meanwhile, in the federal capital, Islamabad, the Victory Monument was inaugurated by President Asif Ali Zardari and Prime Minister Shehbaz Sharif. Field Marshal Syed Asim Munir and newly appointed Commander National Strategic Command Syed Amer Raza were also present, while
Punjab Chief Minister Maryam Nawaz attended the ceremony as a special guest. Maryam Nawaz wore an outfit featuring the colours of the national flag and appeared particularly distinctive and prominent at the ceremony. The Victory Monument has been constructed in Islamabad to commemorate Pakistan’s historic victory in Marka-eHaq. The site is also expected to contribute to the promotion of tourism in the federal capital. A towering national flag has also been installed there. If the Independence Day celebrations in Islamabad and the decoration of the federal capital are discussed, much of the credit certainly goes to Chief Municipal Officer Islamabad Syeda Anam Fatima, who played an important role in organising Independence Day celebrations and decorating the city. This is the same Anam Fatima who was recently subjected to criticism and propaganda on social media merely because she was conferred a Presidential Award. She is an extremely hardworking young officer who is fully committed to her responsibilities. Whatever task she is assigned, she fulfils it with a strong sense of responsibility and dedication. The manner in which Islamabad was decorated and the arrangements made for the parade are a reflection of her performance. The celebrations demonstrated how effectively the federal capital was prepared for Independence Day. It was Anam Fatima who brought together people from different cultures in Islamabad to convey the message of national unity. The colors of Punjabi culture, Balochi, Sindhi, Makrani and Khyber Pakhtunkhwa culture were also visible in the parade. It was not just a parade, but a celebration of the unity of Pakistan. People from the Sikh community also participated in this parade in their traditional style. Written by PA to Info Minister & sent by Director News DGPR
Wednesday, 19 August 2026 | ISLAMABAD
Trump says no talks with Iran underway or scheduled WASHINGTON AGENCIES
US President Donald Trump on Tuesday said that no talks with Iran were underway or scheduled, adding that the Strait of Hormuz remained open under Washington's naval blockade. "There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," Trump wrote on his Truth Social platform. "The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated," he added. TRUMP SHARES IMAGE DEPICTING STRAIT OF HORMUZ AS ‘US TERRITORY’ Trump earlier shared an image depicting the Strait of Hormuz as US territory, days after saying he would declare the strategic waterway part of the United States. Trump posted an image on his social media account showing a map of the Strait of Hormuz labelled “New US territory”, echoing his earlier remarks about declaring the waterway US territory. Speaking at an event on August 14, Trump had claimed that the US Navy was enforcing a complete blockade of the Strait of Hormuz. “After we finish defeating Iran, which is being very badly defeated, pretty soon I’ll be declaring the Hormuz Strait a territory of the United States,” Trump had said. In a separate social media post, Trump had also said the US had “total control” over the Strait of Hormuz and that he believed Washington could maintain that control. Strait of Hormuz will not open until all terms of MoU are met: Iran's Ghalibaf. Senior Iranian Parliament speaker Mohammed Bagher Ghalibaf said on Tuesday that the Strait of Hormuz will not reopen "until the blockade is lifted, frozen assets are released, oil sanctions are removed, military threats and operations on all fronts are ended, and the other terms of the MoU are fully met." In statements carried by the IRNA and ISNA news agencies, he added that "Iran is prepared to impose a heavier defeat on the enemy than before, proportionate to the enemy's actions and aggressions."
Xi Jinping urges China, Ecuador to strengthen alignment of development strategies BEIJING
AGENCIES
Chinese President Xi Jinping on Tuesday urged China and Ecuador to strengthen the alignment of development strategies and implement the cooperation plan to jointly build the Belt and Road. The two sides should well implement cooperation projects in energy, minerals, infrastructure construction, finance and other fields, and actively explore cooperation in areas including the digital economy, green development, new energy and artificial intelligence, Xi said during talks with President of the Republic of Ecuador Daniel Roy-Gilchrist Noboa Azín in Beijing. Chinese President Xi Jinping (R) shakes hands with President of the Republic of Ecuador Daniel Roy-Gilchrist Noboa Azín, at the Great Hall of the People in Beijing, capital of China, August 18, 2026. /Xinhua Noting that this year marks the 10th anniversary of the establishment of the comprehensive strategic partnership between China and Ecuador, Xi said China has always viewed China-Ecuador relations from a strategic and longterm perspective, regardless of how the international situation may change. China is ready to work with
Ecuador to continuously bring bilateral relations to a new level and better benefit the two peoples, Xi said. Xi called on the two sides to consolidate political mutual trust and continue to understand and support each other on issues concerning their respective core interests and major concerns. China respects and sup-
ports Ecuador in exploring a development path suited to its national conditions, Xi said, adding that China is ready to enhance exchanges between the two governments, legislative bodies and political parties, as well as exchanges in other fields, and strengthen exchanges of experience in state governance.
NEWS 07
Wednesday, 19 August 2026 | ISLAMABAD
CM PUNJAB WANTS MAXIMUM WORK NADRA, NFA Join Hands to ON PUBLIC PROJECTS IN MINIMUM TIME Enhance Identity
CORPORATE CORNER
Protection and Forensic Capabilities
ISLAMABAD STAFF REPORT
National Database and Registration Authority (NADRA) and National Forensics Agency (NFA) have signed a Memorandum of Understanding (MoU) to strengthen institutional cooperation and enhance the nation’s identity protection and forensic capabilities.The MoU establishes a framework for collaboration in areas where identity management and forensic expertise are critical to crime investigation and effective law enforcement. The partnership will facilitate greater coordination in complex matters involving identity-related challenges, biometric disputes, identity fraud and forensic examination.Through this collaboration, NADRA and NFA will strengthen identification and verification in complex cases and facilitate access to relevant forensic services in accordance with their respective legal mandates and applicable procedures. The cooperation is expected to contribute to national security, improved law and order and stronger criminal justice processes through greater use of scientific and reliable identity-based evidence.Leadership and senior officials of both the institutions were present at the occasion.
21 Probationary officers of 54th. CTP visit Pakistan Bait-ul-Mal
ISLAMABAD STAFF REPORT
A delegation comprising 21 probationary officers of the 54th Common Training Programme (CTP), led by the Additional Director, Civil Services Academy, Muhammad Ali Afzal visited the headquarters of Pakistan Bait-ul-Mal (PBM) in Islamabad as part of their professional training and exposure to key public-sector institutions required for effective, responsive and people-centric public service.During the visit, Managing Director Pakistan Bait-ul-Mal, Senator Capt. Shaheen Khalid Butt, briefed the probationary officers on PBM’s mandate, social protection initiatives and efforts aimed at alleviating poverty and supporting vulnerable segments of society. Earlier, Director Projects PBM Qasim Zafar delivered a comprehensive presentation, apprising the delegation of PBM’s operational framework, major programmes and nationwide interventions for marginalized communities.Speaking on the occasion, Capt. Shaheen highlighted the institution’s transformative role in restoring human dignity and creating opportunities for disadvantaged citizens to achieve greater self-reliance.
CREB, ITC open 8th International Conference on Applied Development Economics
ISLAMABAD
The Centre for Research in Economics and Business (CREB) and the Innovation and Technology Centre (ITC) at the Lahore School of Economics opened their 8th International Conference on Applied Development Economics (ADE) as an in-person event in Lahore, in collaboration with the International Growth Center and the Consortium for Development Policy Research. The three-day conference, held from 17–19 August 2026, brings together international and local researchers examining development issues in low- and middle-income countries. Its key themes include shocks and educational opportunities, gender and economic outcomes, behavioral responses to conflict and crime, governance and institutional reform, gender and labor markets, and responses to information and climate change. The conference aims to showcase policy-relevant research for sustainable development, support early-career researchers through constructive feedback, and promote scholarly exchange and potential research collaborations. Dr. Shahid Chaudhry, Rector of the Lahore School of Economics, in his inaugural remarks observed that Pakistan’s economic policies are deeply shaped by national development concerns which necessitate high government spending. STAFF REPORT
C
LAHORE
STAFF REPORT
HIEF Minister Punjab Maryam Nawaz Sharif on Tuesday directed provincial lawmakers to maintain close contact with the public and said she wanted maximum progress on public projects within the shortest possible time. She was speaking during a meeting with members of the Punjab Assembly from Okara, which was also attended by Provincial Minister Ashiq Hussain Shah, Javed Alauddin Sajid, Chaudhry Iftikhar Hussain Chhachhar, Noorul Amin Wattoo, Ali Abbas, Mian Yawar Zaman, Mian Muhammad Munir and Ghulam Raza. The meeting discussed the political situation, development projects and issues confronting the lawmakers’ constituencies. The legislators apprised the chief minister of public grievances, while Ms Maryam assured them of steps for their resolution. The lawmakers congratulated the chief minister on establishing an integrated Safe City network across all 41 districts and two tehsils of Punjab. They also thanked her for the construction and rehabilitation of the GT Road-Bypass in Okara and appreciated the launch of electro-bus services in the city.
The chief minister urged the legislators to remain in close contact with the people and said the provincial government wanted to complete as many public welfare projects as possible within a short period. She said, for the first time, all cities and villages across the province were being cleaned under the ‘Suthra Punjab’ programme. “Receiving reports of an improvement in the quality of life of the people of Punjab brings me great satisfaction,” she said, adding that the distinction between Lahore and less-developed cities
was being eliminated and electro-buses were being introduced in cities and villages across the province. The lawmakers said electro-bus services were operating from the General Bus Stand to Akhtarabad, Karmalwala, Adda Kisan and Okara University. They appreciated free travel facilities for students, women and senior citizens. They said the crime rate in Punjab was gradually declining due to the Safe City network and police efforts. Under Ms Maryam’s leadership, they added, the province was moving towards greater de-
AKUH Receives Third Consecutive International Platinum Award for Heart Attack Care
KARACHI: The Aga Khan University Hospital (AKUH) has received its third consecutive Platinum Performance Achievement Award from the American College of Cardiology (ACC), recognising its consistent delivery of evidence-based, guideline-directed care to patients experiencing heart attacks.The award is based on AKUH's participation in the ACC Chest Pain-MI Registry, which enables hospitals to continuously measure their care against established clinical standards and identify opportunities for improvement. For patients, this means their care is guided by internationally recognised best practices and supported by a system that continuously reviews how care is delivered.“This third consecutive international recognition is a strong endorsement of our commitment to evidence-based, patient-centred cardiac care,” said Dr Farhat Abbas T.I., S.I., CEO, AKU Health System, Pakistan. “It reflects our teams’ dedication to delivering safe, high-quality care and continuously improving outcomes for our patients.”Participation in the registry allows AKUH's clinical teams to use data to strengthen the quality and consistency of heart attack care. It supports a structured approach to treatment, from timely assessment and diagnosis through intervention and ongoing care, while helping teams identify areas where care can be further improved.For a country facing a growing burden of cardiac disease, continuous measurement of care also provides an important opportunity to understand changing patterns of heart disease. This includes the growing concern around heart attacks among younger adults, highlighting the importance of recognising risk factors early and strengthening both prevention and treatment. STAFF REPORT
H.E. Nasser Abdulla Hussain Lootah Commits Additional PKR 10b in Equity to Bank Makramah
SIUT’s CBEC Holds Seminar on Ethical Response to Growing HIV Epidemic in Pakistan
STAFF REPORT
STAFF REPORT
KARACHI
Bank Makramah Limited (BML) announced today that its Board of Directors has approved a proposal for an additional PKR 10 billion equity investment by the Bank’s Sponsor, H.E. Nasser Abdulla Hussain Lootah. The investment, to be made as an advance against equity, remains subject to the requisite regulatory and corporate approvals. The further Sponsor investment is being Exclusively arranged by His Excellency, demonstrating his strong confidence in the Bank, its turnaround journey and long-term potential. This continued backing provides the Bank with a stronger financial foundation and allows management to remain focused on accelerating its transformation, strengthening the business and pursuing sustainable long-term growth. Upon completion, His Excellency’s aggregate investment in the Bank will reach PKR 51 billion, reflecting a sustained and decisive commitment to the Bank’s transformation and long-term growth. This journey began with the initial PKR 10 billion capital injection, which paved the way for the acquisition of a majority stake in April 2023. This was followed by a further PKR 5 billion investment, currently held as an advance against equity. The landmark merger with Global Haly Development Limited subsequently contributed PKR 26.467 billion to the Bank’s capital base, alongside the integration of the high-value Creekside Property. With the proposed additional investment of PKR 10 billion, His Excellency is once again reinforcing his confidence in the Bank and strengthening its capital base to support its continued growth and future potential. The latest capital commitment further reinforces the Sponsor’s sustained support for the Bank’s recapitalisation, financial strengthening and transformation. It will provide BML with a stronger financial foundation as management continues to strengthen the business and pursue sustainable, long-term growth.
KARACHI
The Centre of Biomedical Ethics and Culture (CBEC) of the Sindh Institute of Urology and Transplantation (SIUT) organized a one-day seminar to examine the growing HIV epidemic in Pakistan, with particular focus on the increasing number of children affected by the disease.Titled “Nothing about Us, Without Us: Ethical Responses to the Evolving HIV Epidemic in Pakistan: Regional and Global Implications,” the seminar was organized in collaboration with the World Health Organization (WHO), Eastern Mediterranean Region. It brought together national and international health experts, healthcare professionals, bioethicists, public health specialists, journalists and civil society representatives to discuss the medical, social and ethical challenges surrounding HIV in Pakistan.The discussion was particularly significant as Pakistan is experiencing a rapidly growing HIV epidemic, with children increasingly among those affected. According to WHO reporting, new HIV cases among children aged 0– 14 years increased from 530 in 2010 to around 1,800 in 2023.The session began with welcome addresses by Professor Aamir Jafarey, Chairperson of CBEC, and Dr Arshad Altaf of WHO-EMRO. The keynote address was delivered online by Professor Elizabeth Bukusi from Nairobi, Kenya.Professor Bukusi shared lessons from the African experience of responding to HIV in resource-limited settings. She highlighted the importance of strengthening healthcare systems, improving access to treatment and ensuring that communities affected by HIV are meaningfully involved in efforts to control the epidemic.This was followed by a presentation from Dr Muhammad Shahid Jamil of WHO-EMRO, who discussed the HIV response across the Eastern Mediterranean Region. He highlighted common challenges faced by countries in the region and the opportunities for greater cooperation and stronger public health responses.
ABHI Bank Delivers Record Half-Year Performance with Profit After Tax of PKR 1.502 Billion
KARACHI: ABHI Bank reported a profit after tax of PKR 1.502 billion for the six months ended June 30, 2026, compared to PKR 1.019 billion for the full year ended December 31, 2025, meaning the Bank has already surpassed its entire 2025 profit in just six months. The Bank's profit after tax also increased significantly from PKR 200.2 million during the corresponding period last year, marking another record performance for the Bank and reflecting continued progress in its transformation and growth journey. The improvement in profitability was supported by strong balance sheet expansion, higher earning assets, increased deposit mobilization, improved recoveries, and continued focus on risk management and operational discipline. The Bank's total assets crossed the PKR 100 billion milestone, reaching PKR 101.55 billion as of June 30, 2026, representing approximately 32% growth from PKR 76.80 billion on December 31, 2025. Gross advances increased to PKR 50.07 billion, compared to PKR 38.16 billion at year-end 2025.The Bank's funding base also recorded significant growth during the period, with deposits increasing to PKR 86.19 billion from PKR 69.09 billion on December 31, 2025, representing approximately 25% growth. The increase reflects continued deposit mobilization and strengthening of the Bank's customer franchise. The Bank's revenue profile strengthened significantly during the first half of 2026, with revenue increasing to PKR 10.52 billion from PKR 5.84 billion during the corresponding period of 2025, representing a robust 80.1% growth year-on-year. Notably, the revenue generated during the first six months of 2026 has already reached approximately 74% of the PKR 14.25 billion revenue recorded for the entire year of 2025, reflecting the strong momentum in the Bank's financial performance. STAFF REPORT
velopment and prosperity. The legislators said projects including electro-buses, the ‘Apni Chhat, Apna Ghar’ housing scheme and the Kisan Card had gained popularity among the people. 2,778 new water filtration plants planned in nine Punjab districts Chief Minister Punjab Maryam Nawaz Sharif on Tuesday reviewed progress on water filtration plant projects across the province and directed authorities to expedite their completion to ensure access to clean drinking water. Presiding over the sixth consecutive meeting on the provision of clean water, the chief minister reviewed detailed progress on projects in Bahawalnagar, Bahawalpur, Rajanpur, Talagang, Attock, Rawalpindi, Jhelum, Rahim Yar Khan and Chakwal. A report presented at the meeting said 2,778 new water filtration plants were being established in nine districts. The chief minister also expressed satisfaction over the water bottling projects in Rahim Yar Khan, Bahawalpur, Khushab and Dera Ghazi Khan. Officials briefed the meeting that each water bottling point was supplying 2,500 bottles of drinking water to the public daily, while each bottling plant had the capacity to provide 5,000 litres of clean water per hour. Small dams were also being constructed in the Potohar region.
Federal Government Urged to Ensure Clarity on Hybrid Taxation and Auto Policy 2026–31: Sukhdev Hemnani KARACHI
STAFF REPORT
Sindh Government Spokesperson Sukhdev Hemnani has called upon the Federal Government to finalise and notify the Auto Policy 2026–31 and provide a clear transitional framework for hybrid, plug-in hybrid and electric vehicles following the expiry of the previous policy.Hemnani said the Auto Industry Development and Export Policy 2021–26 expired on 30 June 2026. On the same date, the statutory concessional sales-tax treatment of 8.5% for qualifying locally manufactured hybrid vehicles up to 1,800cc and 12.75% for those between 1,801cc and 2,500cc also ended. Consequently, affected hybrid models falling within the relevant federal tax categories became subject to 25% sales tax.He said both deadlines were known well in advance. While the Federal Government was entitled to review or revise any fiscal incentive, its decision should have been incorporated into a complete successor framework before the previous arrangements expired.“Industrial policy requires continuity and predictability. The issue is not whether a concession may ever be revised, but whether a known transition was managed through timely decisions, clear eligibility criteria and adequate notice to consumers and investors,” Hemnani said.He clarified that he was not advocating permanent or indiscriminate preferential taxation for all hybrid vehicles. Any transitional support should be timebound and linked to measurable fuel efficiency, local manufacturing, localisation, technology transfer, employment and domestic component development.Hemnani said Pakistan’s petroleumimport dependence made coordination between taxation, industrial policy and clean-mobility planning particularly important.
Only 20% newborns breastfed within an hour as bottle-feeding rising sharply in Pakistan KARACHI
STAFF REPORT
Hardly 20 percent of newborns in Pakistan are breastfed within their first hour of life, while inadequate support from families, health facilities, workplaces and the wider society deprives many infants of mother’s milk, raising their risk of death by up to 15 times, health experts said on Tuesday.An estimated 33,700 child deaths in Pakistan each year are attributable to inadequate breastfeeding, with diarrhoea and pneumonia among the principal preventable causes, according to data presented at the workshop.The figures were shared at a media awareness and sensitisation workshop organised by the Sindh Institute of Child Health and Neonatology (SICHN), in collaboration with UNICEF and the Sindh Health Department, at the Karachi Press Club in connection with World Breastfeeding Week 2026.Prof Syed Jamal Raza, Executive Director of SICHN, said breastfeeding was not solely a mother’s responsibility and called for practical support from fathers, grandparents, doctors, nurses, employers, community leaders and policymakers.He said infants under six months who were not breastfed faced an estimated 15 times higher risk of death than those who were exclusively breastfed, while partially breastfed infants faced about three times higher risk.Only 48 percent of Pakistani infants under six months are exclusively breastfed, according to National Nutrition Survey and UNICEF countryprofile data cited in his presentation, leaving more than half without the full nutritional and protective benefits of mother’s milk during a particularly vulnerable stage of life.The SICHN chief said bottlefeeding among children under two had increased from 32 per cent in 2006-07 to 41 per cent in 2012-13 and 48 per cent in 2024, according to pooled regional data presented at the workshop.He said bottle feeding could expose infants to contamination and infection where safe water and hygienic preparation were not assured. Improper dilution could also result in inadequate nutrition, while other inappropriate feeding practices could create health risks.
Diesel prices PTI WELCOMES SC ORDER REGARDING Petrol, hiked again; HSD up Rs5.27 and petrol Rs3.34 IMRAN KHAN'S MEDICAL CARE per litre for Aug 19
Wednesday, 19 August, 2026
PRAYER TIMINGS
NEWS
P
ISLAMABAD
STAFF REPORT
AKISTAN Tehreek-e-Insaf (PTI) on Tuesday welcomed the Supreme Court's order to transfer jailed party founder Imran Khan to Shifa International Hospital for medical assessment and treatment, urging party workers to avoid gathering outside the medical facility. In a post on X, the Khan-founded party called on workers to fully respect the top court's directives, saying the appeal was being made in the interest of the former prime minister's health and treatment. The statement came soon after the Supreme Court ordered Adiala jail authorities to transfer Khan to Shifa International Hospital until September 16. A three-member bench headed by Justice Shahid Waheed, comprising Justice Naeem Akhtar Afghan and Justice Ishtiaq Ibrahim, issued the interim order after hearing petitions concerning the former prime minister's medical treatment and meetings with his family members. In Tuesday's order, the court ordered the constitution of a medical board to assess and treat Khan. It also ordered that Dr Uzma and the former premier's personal physician be present during his medical assessment and treatment, with his family to bear the expenses. Authorities were directed to transfer the ex-premier to the hospital under tight
FAJR SUNRISE
ZUHR
ASR MAGHRIB ISHA
4:59
1:30
5:30
4:10
security and complete the necessary arrangements within a few days. The court, however, warned that any violation of its directions could result in the withdrawal of facilities being provided to the PTI founder. Khan, 73, has remained in prison since August 2023 following convictions he and his party describe as politically motivated. Since his ouster in April 2022 following a no-confidence vote, he has faced multiple legal cases, including allegations of state gifts and an unlawful marriage case. The PTI said that the Supreme Court's order had strengthened the fundamental demand for Khan to receive the best possible medical facilities.
Sister meets PTI founder at Adiala Jail after SC orders weekly family meetings
9:00
PROFIT
AHMAD AHMADANI
The government has increased the price of high-speed diesel (HSD) by Rs5.27 per litre and petrol by Rs3.34 per litre for August 19, 2026, under the revised daily petroleum pricing mechanism. According to the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices of petroleum products for August 19, 2026. The ex-depot price of HSD has been increased from Rs390.42 to Rs395.69 per litre, showing a rise of Rs5.27 per litre. The ex-depot price of motor spirit (petrol) has been increased from Rs331.20 to Rs334.54 per litre, reflecting an increase of Rs3.34 per litre. The increase in HSD is higher than the increase in petrol, making diesel the bigger component of the latest petroleum price hike. HSD is extensively used by trucks, buses and other heavy commercial vehicles, while tractors, agricultural machinery, generators and other diesel-powered equipment also rely on the fuel. Any increase in diesel prices can therefore add to the fuel expenses of transport operators, farmers and businesses using diesel-powered machinery. Petrol, also known as motor spirit, is predominantly used by cars, motorcycles, rickshaws and other light vehicles. The Rs3.34 per litre increase will directly increase the fuel cost for motorists and other consumers using petrol-powered vehicles. The revised ex-depot prices are Rs395.69 per litre for HSD and Rs334.54 per litre for petrol for August 19, 2026, according to the Petroleum Division notification
Security forces kill nine terrorists in Balochistan IBOs RAWALPINDI
NEWS DESK
RAWALPINDI
STAFF REPORT
"We consider this Supreme Court order an important step towards protecting Imran Khan’s fundamental right to health and human dignity," the PTI said of today's court order. It also expressed hope that the relevant authorities would implement the court orders and ensure the provision of the best possible medical facilities to Khan. The PTI said that the Supreme Court's order had strengthened the fundamental demand for Khan to receive the best possible medical facilities. Barrister Gohar urges govt to engage in dialogue PTI Chairman Barrister Gohar Ali Khan said that the party would never politicise the health of its founder, adding
that health-related reports would not be used for personal matters. Speaking to reporters outside the Parliament House, he said that his party was also not in favour of politically eliminating anyone, adding that compliance with the top court's order would pave the way forward. Barrister Gohar also called for the resolution of former first lady Bushra Bibi's health issues, saying she also had the right to be shifted to a hospital and receive medical facilities. The PTI chief said that the implementation of court orders would help lower the country's political temperature and urged the government to move towards dialogue instead of taking short steps. "Measures should be taken to resolve political differences through dialogue,” he said, adding that statements that could raise the political temperature should be avoided. He said the safety of the army, police and Rangers was every Pakistani's foremost priority, adding that PTI did not want to expose the security institutions to any threat. "There should be no compromise on terrorism," Barrister Gohar said, adding that terrorism was condemnable wherever it occurred. PTI Secretary-General Salman Akram Raja alleged that Khan was kept away from his personal physicians, saying his complete checkup would be conducted at Shifa International Hospital.
7:10
Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan’s sister Noreen Niazi on Tuesday met the incarcerated former prime minister at Adiala Jail, marking his first confirmed family meeting this year following a Supreme Court order allowing him weekly meetings with his relatives. Noreen was allowed to enter the prison and was directed by police to Gate No. 5. Jail sources said she met Imran in the prison’s conference room, where they discussed his health and other matters. She also briefed him on the Supreme Court’s order directing that he be taken to Shifa International Hospital for a medical examination. The Supreme Court earlier ordered the constitution of a medical board at the hospital to examine Imran and directed the jail authorities to facilitate weekly meetings between him and his family, as well as telephone conversations with his sons. However, Imran’s sisters Aleema Khanum and Dr Uzma Khanum, along with his cousin Qasim Zaman, were stopped at Dahgal Naka on Adiala Road and prevented from proceeding towards the jail. Khyber-Pakhtunkhwa Senior Minister Meena Khan and PTI leaders Khalid Yousuf Chaudhry and Shahid Khattak were also present at a nearby checkpoint as a heavy police contingent was deployed around the prison. Separately, Imran’s wife Bushra Bibi was allowed to meet her family members at the jail. The meeting, held in the conference room and lasting around 40 minutes, was attended by her children Musa and Mubashara Maneka and sister-in-law Mehrunnisa. Her health and legal matters were discussed during the meeting. Speaking to reporters at the checkpoint, Aleema said the Supreme Court’s order for Imran’s medical examination came after months of demands by the PTI and his family. “Politics does not trump health,” she said, stressing that the sisters’ primary concern was Imran’s health. Aleema also called for bail for both Imran and Bushra Bibi, arguing that if relief had been granted to the PTI founder, his wife should also receive similar consideration. Before entering the jail, Noreen said she would brief her brother about the Supreme Court’s order regarding his proposed transfer to Shifa International Hospital and efforts made by PTI members on his behalf. PTI lawyer Awais Younas Chaudhry, speaking outside the prison, said the party finally had an opportunity to obtain a clearer picture of Imran’s current condition. He said the party had decided that Noreen would not speak to the media after the meeting. Noreen adhered to the decision. After leaving the jail, she declined to comment and signalled to reporters that she would remain silent. The development marks a significant change after months during which Imran’s family and party repeatedly complained about restrictions on access to him. His last confirmed meeting with a family member was with Dr Uzma Khan on December 2, 2025, while Noreen had previously met him on November 4 last year.
Security forces killed more than nine terrorists in intelligencebased operations (IBOs) in Ziarat, Harnai and Surab districts of Balochistan, Radio Pakistan reported on Tuesday, citing security sources, as operations under Operation Radd-ul-Fitna-3 continue against terrorist groups. "Security forces have conducted IBOs against terrorists in Ziarat, Harnai and Surab, killing over nine terrorists," Radio Pakistan quoted security sources as saying. The federal government last year officially designated all terrorist groups operating in Balochistan as 'Fitna al-Hindustan', accusing India of sponsoring a proxy war through these outfits. Fitna al-Khawarij is the state-designated term for the banned outfit Tehreek-e-Taliban Pakistan (TTP). The high-tempo intelligence-
driven operations were conducted as part of the ongoing "Radd-ulFitna-3" campaign, which the military's media wing has described as a counterterrorism operation aimed at eliminating Indian proxies. Security forces conducted a major operation in the mountainous region between Ziarat and Harnai after receiving intelligence about the presence of terrorists. The forces surrounded and effectively targeted a terrorist hideout, killing eight terrorists, according to the sources. "The hideout was also destroyed during the operation," sources added. Separately, security forces conducted an operation in Hajika village in Surab district, killing another terrorist. The forces had established an effective cordon between Dasht Kitai and Hajika and tracked the movement of the terrorists before launching the operation, the sources said.
"Ammunition, magazines, hand grenades, a walkie-talkie, a motorcycle and other equipment were recovered from the slain terrorists, " security sources said. Security forces remain committed to continuing operations in Balochistan until the complete elimination of terrorism and the establishment of lasting peace in the province. Interior Minister Mohsin Naqvi has praised the security forces for their successful IBOs in Balochistan under Operation Radd-ul-Fitna 3. The interior minister lauded the professional capabilities of the security forces for killing more than nine terrorists belonging to Fitna al-Hindustan. “We are proud of the brave sons of the security forces who foiled the nefarious designs of the terrorists,” he said. “The operations by the security forces reflect their resolve to protect national security,” he added.
Govt to implement SC order on Imran's transfer to Shifa hospital, Senate told ISLAMABAD STAFF REPORT
Federal Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry told the Senate on Tuesday that the government would fully implement the Supreme Court’s order directing the transfer of incarcerated former prime minister and PTI founder Imran Khan to a private hospital in Islamabad. The Supreme Court earlier in the day ordered the government to shift Imran to Shifa International Hospital within two days for medical examination and treatment. “The prime minister has no authority to go against judicial decisions,” Chaudhry told the Senate, adding that the ruling had demonstrated the independence of the judiciary. He also condemned what he described as insulting remarks and a “hate campaign” against the judiciary, saying the PML-N leadership had itself obtained relief from courts. PTI Senator Azam Swati welcomed the decision to move Imran to Shifa International Hospital and thanked the government, calling for political issues to be resolved through cooperation. Senator Faisal Javed also welcomed the Supreme Court’s ruling and said its implementation was now the administration’s responsibility. He called for sim-
ilar relief for other incarcerated PTI leaders. The Supreme Court had ordered the constitution of a medical board at Shifa International Hospital comprising specialists in general medicine, surgery, internal medicine, ophthalmology and cardiology to examine and treat Imran. The court also permitted his personal physician, Dr Faisal Sultan, and his sister Dr Uzma Khan to remain associated with his medical examination and treatment. PTI raises concerns over road closures During the Senate proceedings, PTI Senator Mohsin Aziz raised concerns over frequent road closures, claiming they were adversely affecting economic activity and industrial operations. He said a prolonged transporters’ strike had disrupted supplies of raw materials and warned that continued road closures were damaging industry. “ The country cannot run like this. Don’t destroy industry,” he said, while questioning road closures during the movement of foreign delegations, cricket teams and political visitors. Responding, Minister Tariq Fazal Chaudhry said the government had successfully negotiated with protesting transporters and routes had subsequently been reopened. He stressed that “politics of violence and chaos” was not in the national interest.
ECC orders PTV to prepare plan to end reliance on government funding PROFIT
MONITORING REPORT
The Economic Coordination Committee (ECC) has directed the Information and Broadcasting Division to prepare a comprehensive financial sustainability roadmap for Pakistan Television Corporation (PTV) by the end of September 2026, aimed at enabling the state broadcaster to meet its own expenditures and reduce its recurring reliance on government funding. According to news reports, the ECC also stressed the need for PTV to establish a mechanism to collect licence fees to generate revenue and address its continued dependence on off-budget funding. During deliberations, the committee raised concerns over PTV's large workforce, particularly compared with leading private news channels, saying its staffing strength was not commensurate with its revenue. The Information and Broadcasting Division responded that PTV had significantly wider geographical coverage than private channels, which are largely concentrated in urban areas, resulting in higher human-resource and operational costs. Some ECC members suggested that PTV could pursue revitalisation by focusing more on drama and performing-arts content to strengthen its revenue base. After detailed deliberations, the ECC approved the proposal and directed the Information and Broadcasting Division to submit the financial sustainability roadmap by the end of September 2026. The Broadcasting Division told the ECC that PTV operates under the Companies Act, 2017, and is under the administrative control of the Ministry of Information and Broadcasting under the Rules of Business, 1973. It said PTV, as Pakistan's national public-service broadcaster, was required to maintain uninterrupted nationwide broadcasting and meet substantial recurring costs, including pay and allowances, utility bills, satellite and transmission charges, programme production, security services, contractual payments and other essential operational expenses. The division said PTV contributes to national integration and development by highlighting Pakistan's cultural diversity and projecting a vibrant, progressive, tolerant, inclusive and peaceful image of the country.
NA set to consider GIDC Amendment Bill 2026 to unlock over Rs 400 billion in stuck dues PROFIT
MONITORING REPORT
The National Assembly is expected to take up the Gas Infrastructure Development Cess (Amendment) Bill, 2026, aimed at resolving more than Rs400 billion in GIDC dues currently stuck in litigation. The Cabinet Committee on Disposal of Legislative Cases (CCLC) cleared amendments to the underlying GIDC Act, 2015 back in February, Business Recorder reported. The cess was originally levied on nondomestic, non-commercial gas consumers to help fund projects including the Iran-Pakistan Pipeline, the TurkmenistanAfghanistan-Pakistan-India (TAPI) Pipeline, and various LNG initiatives. TAPI itself remains far from complete, with construction so far limited to a 153-
kilometer stretch running from Serhetabat on the Turkmen border to Herat in Afghanistan. Briefing the CCLC, the Petroleum Division explained that earlier versions of the levy, under the 2011 Act and a 2014 ordinance, were struck down by the Supreme Court, prompting Parliament to pass the current GIDC Act in 2015 with retrospective effect. That law was challenged by industrial, fertiliser and CNG consumers in the High Courts and eventually reached the Supreme Court. In an August 2020 ruling, the apex court upheld the 2015 Act's constitutionality retrospectively but barred fresh collection, allowing only recovery of existing arrears in instalments. Crucially, the court classified GIDC as a fee rather than a tax, meaning it required a genuine quid pro quo, with the money tied to actual delivery of the named
infrastructure projects. Judges cautioned that if those projects never materialised, the entire basis for the levy would collapse. Litigation nonetheless continued in various courts even after the ruling. To break the deadlock over the stuck Rs400 billion-plus, the prime minister set up a dedicated GIDC Committee in November 2022. Progress was slow given the ongoing court cases, with the panel's most recent session held in March 2025 under the Finance Minister, alongside the Petroleum Minister, the Attorney General, and officials from the Petroleum, Finance and Law Divisions. That meeting agreed on amending Section 4 of the Act to finally address the litigation logjam. A first draft amendment was rejected by the CCLC in September 2025, which sent it back for revision to ensure it didn't exceed the scope of the original law.
The reworked version secured legal clearance from the Law and Justice Division in December 2025 and a formal no-objection from the Finance Division, before
Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited. Ph: 051-2204545. Email: newsroom@pakistantoday.com.pk
the CCLC approved the proposal in January 2026, conditional on the Law and Justice Division finalising the amendments before the bill heads to Cabinet.