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PM HAILS MAKKAH PACT FOR BRINGING PAKISTAN, SAUDI ARABIA, TÜRKIYE CLOSER Saturday, 29 August, 2026 | 15 Rabiul Awwal, 1448
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PM SHEHBAZ REAFFIRMS PAKISTAN’S ‘DEEP-ROOTED, FRATERNAL TIES’ WITH SAUDI ARABIA
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STRESSES TWO COUNTRIES, AS STRATEGIC PARTNERS, SHOULD NOW FOCUS ON EXPANDING ECONOMIC AND AGRICULTURAL COOPERATION TO TRANSFORM LONGSTANDING TIES
Rs 20.00 | Vol XVII No 154 | 8 Pages | Lahore Edition
TWO SIDES DISCUSS WAYS TO IMPROVE AGRICULTURAL PRODUCTIVITY THROUGH TECHNOLOGY, RESEARCH AND DEVELOPMENT g
SAUDI MINISTER THANKS PM FOR HOSPITALITY, REAFFIRMS RIYADH’S COMMITMENT TO EXPANDING COOPERATION WITH PAKISTAN IN AGRICULTURE, WATER AND FOOD SECURITY
– orders third-party audit of FBR reforms to ensure transparency ISLAMABAD
STAFF REPORT
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ISLAMABAD STAFF REPORT
RIME Minister Shehbaz Sharif on Friday said the Makkah Joint Defence Agreement between Pakistan, Saudi Arabia, and Türkiye had brought the three countries closer and conveyed a message of unity and peace across the region. The three countries signed the pact at a trilateral summit in Makkah on Aug 7, agreeing to strengthen collective secu-
rity, expand defence cooperation and promote regional peace and stability. The prime minister expressed these views during a meeting with Saudi Minister for Environment, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadley at the Prime Minister’s House. According to the Prime Minister’s Office, PM Shehbaz reaffirmed Pakistan’s “deep-rooted, fraternal ties” with Saudi Arabia and conveyed his regards to King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman. He said Pakistan and Saudi Arabia,
Pakistan says no legal route exists to take back Rochdale convict, report says ISLAMABAD
STAFF REPORT
Pakistan told the United Kingdom there is no existing legal framework or bilateral arrangement under which it can accept the return of Shabir Ahmed, a convicted member of the Rochdale grooming gang, during talks between Deputy Prime Minister and Foreign Minister Ishaq Dar and UK Foreign Secretary Ed Miliband in London, according to details carried in a report. Miliband personally raised Ahmed’s case during Thursday’s discussions at the Foreign, Commonwealth and Development Office and asked Pakistan to consider receiving him. Ahmed, 73, was released from prison last month after serving 14 years of a 22-year sentence for 30 child rape offences. Briefed on the discussions, the Pakistani side told British officials that there was currently no law or formal mechanism that would allow such a transfer. One Pakistani source also said the case differed from other immigration or deportation matters because Ahmed is a convicted child rapist and subject to sex offender restrictions. Issue raised during London talks Miliband explained the importance the British government attached to Ahmed’s removal from the UK and conveyed official concern over the convicted offender remaining in the country. Pakistani officials, it added, acknowledged those concerns as well as the domestic political sensitivity of the matter, but maintained that present arrangements between the two countries do not provide a route for Pakistan to accept him. Pakistan’s position during the talks, familiar with the discussion, was that Islamabad has consistently cooperated with Britain on immigration, deportation and criminal matters.
Prime Minister Shehbaz Sharif on Friday directed a third-party audit of reforms being introduced in the Federal Board of Revenue (FBR) to ensure transparency, effectiveness and sustainability, stressing that digitalisation, production monitoring and automated systems were key pillars of the government’s tax reform agenda. Chairing the weekly review meeting on FBR reforms, the prime minister directed the authorities concerned to ensure implementation of reformative measures in the tax system within the stipulated timeframe and accelerate effective action against tax evasion, smuggling and illegal businesses. During the meeting, the prime min-
as strategic partners, should now focus on expanding economic and agricultural cooperation to transform their longstanding relationship into a stronger trade and investment partnership.
ister was briefed on the restructuring of PRAL and said the government’s efforts to introduce tax reforms were aimed at the development of the country. He said the deployment of reputed goods evaluators in the FBR was a welcome step and appreciated the efforts of the Board’s chairman and his team in this regard. The prime minister also instructed that implementation of the reforms should be ensured to modernise and strengthen the tax system, increase revenue collection and completely eradicate smuggling. The participants were given a detailed briefing on ongoing reforms in the FBR, particularly the restructuring of PRAL, digitalisation of the tax system and measures taken to curb smuggling.
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The premier expressed satisfaction over constructive engagement between the two countries, particularly regarding Pakistani agricultural exports to Saudi Arabia.
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Pakistan-Saudi-Turkiye FMs discuss regional developments ahead of R4 meeting ISLAMABAD SALEEM JADOON
Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday held separate telephone conversations with his Saudi and Turkish counterparts, discussing the evolving regional situation and matters of mutual interest, including preparations for the forthcoming meeting of the R4 foreign ministers of Pakistan, Egypt, Saudi Arabia and Türkiye, the Foreign Office (FO) said. During his telephone conversation with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, the two ministers exchanged views on regional developments and matters of mutual interest, including the forthcoming meeting of the R4 foreign ministers comprising Pakistan, Egypt, Saudi Arabia and Türkiye. FM Dar also congratulated Prince Faisal bin Farhan Al Saud on the election of Mauritania’s Ismail Ould Cheikh Ahmed as the new secretary general of the Organisation of Islamic Cooperation (OIC), the Ministry of Foreign Affairs (MoFA) said. The two ministers “agreed to remain closely engaged”, the statement added. Dar, Türkiye’s Fidan discuss evolving regional situation Separately, DPM/FM Senator Mohammad Ishaq Dar spoke with Turkish Foreign Minister Hakan Fidan on Friday, with the two ministers discussing the evolving re-
Dar says UK lauded Pakistan's mediation role in US-Iran crisis LONDON
STAFF REPORT
Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday said British officials had praised Pakistan’s diplomatic efforts to mediate between the United States and Iran, while commending Prime Minister Shehbaz Sharif and Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Asim Munir for their leadership during challenging times. Speaking at a news conference in London at the conclusion of his four-day visit to the United Kingdom, Dar described the trip as “extremely useful” and said his engagements had covered bilateral relations, regional developments and counter-terrorism cooperation. Dar said British officials had particularly appreciated Pak-
gional situation and exchanging views on matters of common interest, the FO said in a post on X. The two foreign ministers also discussed “forthcoming engagements, including the forthcoming meeting of the R4”, the FO said. Regional Four to meet later this month
istan’s role in facilitating efforts to ease tensions between Washington and Tehran. “In all the meetings, British officials praised Pakistan’s mediation efforts between the US and Iran, in particular the leadership of Prime Minister Shehbaz Sharif and Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Asim Munir for playing such a positive role in such challenging times,” he said. Dar said he held comprehensive discussions with British Foreign Secretary Ed Miliband on bilateral relations and counter-terrorism cooperation. His talks with Commonwealth Secretary-General Shirley Ayorkor Botchwey focused on institutional reforms and youth initiatives, he added, noting that Pakistan was co-chairing the Commonwealth Youth Programme.
Pakistan, Saudi Arabia, Türkiye and Egypt are set to hold another round of high-level consultations in Istanbul later this month as Islamabad steps up diplomatic coordination with key regional powers following the signing of a landmark defence agreement between Pakistan, Saudi Arabia and Türkiye.
Barrister Iftikhar Gillani sworn in as AJK prime minister MUZAFFARABAD
STAFF REPORT
PML-N’s Barrister Syed Iftikhar Ali Gillani was sworn in as the prime minister of Azad Jammu and Kashmir (AJK) on Friday after securing a clear majority in the Legislative Assembly earlier in the day. Gillani received 30 of the 44 votes cast in the election, defeating PPP candidate Sardar Mukhtar Ahmed Abbasi, who secured 14 votes. Speaker Chaudhry Tariq Farooq announced the result after the counting of votes, amid applause and slogans from the galleries. The newly elected prime minister took oath at a televised ceremony, where he thanked PML-N supremo Nawaz Sharif, Prime Minister Shehbaz Sharif, Punjab Chief Minister Maryam Nawaz and the party’s senior leadership for reposing confidence in him. “I am thankful for the leadership and party’s affection and faith in me, and I assure you that even if I have to work day and night, I will uphold this faith,” Gillani said. Addressing members of the assembly, he called for collective efforts to build an AJK that could serve as a model for the rest of the country. Gillani identified employment, education and healthcare as the three main priorities of his government, saying these issues directly affected the quality of life of ordinary people. “Ours is a small region,” he said, adding that AJK, like the rest of the country, faced governance challenges and unemployment. He said creating employment opportunities for young people would be a key priority, stressing the need to prevent them from becoming frustrated and ensure they had a path towards a better future.
Govt cuts petrol price by Rs0.58, HSD by Rs0.17 per litre for three days
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PROFIT
AHMAD AHMADANI
The government has cut the price of petrol by Rs0.58 per litre and High Speed Diesel by Rs0.17 per litre, with the revised prices applicable for three days from August 29 to August 31, 2026. According to the Petroleum Division, the Oil and Gas Regulatory Authority has revised the ex depot prices of petroleum products under the revised petroleum pricing mechanism issued by the federal government. The ex depot price of Motor Spirit, commonly known as petrol, has been reduced from Rs342.60 to Rs342.02 per litre, showing a decrease of Rs0.58 per litre. Meanwhile, the ex depot price of High Speed Diesel has been reduced from Rs371.61 to Rs371.44 per litre, reflecting a cut of Rs0.17 per litre. The revised prices will remain applicable from August 29 to August 31, meaning consumers will receive the benefit of the latest reduction for only three days. Petrol is primarily used in motorcycles, private cars, taxis, rickshaws and other light vehicles across Pakistan. Changes in petrol prices therefore directly affect the daily commuting and transportation expenses of millions of consumers. High Speed Diesel, meanwhile, is extensively used in trucks, buses, tractors, agricultural machinery, generators and other heavy duty vehicles and equipment. Its price is therefore particularly important for the transportation, agriculture and industrial sectors. The transport sector is a major consumer of diesel, with trucks and buses relying heavily on the fuel to move goods and passengers across the country. Changes in diesel prices can consequently influence transportation and freight costs. Diesel is also widely used in the agriculture sector, particularly for tractors, tube wells and other agricultural machinery. Any significant change in its price can therefore affect farmers and agricultural operating costs. The latest reduction, however, is relatively small. Petrol has become cheaper by 58 paisa per litre while the price of High Speed Diesel has declined by only 17 paisa per litre. The relief is also limited by the fact that the revised prices will remain applicable for only three days. Under the latest revision, petrol will be available at Rs342.02 per litre while High Speed Diesel will be priced at Rs371.44 per litre from August 29 to August 31, 2026.
CDF Munir urges youth to use ‘fact-based analytics’ amid social media, propaganda RAWALPINDI
STAFF REPORT
Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Syed Asim Munir on Friday underscored the need for greater focus on education, skill development and entrepreneurship among young people, urging them to use “fact-based analytics” to make meaningful contributions in an increasingly volatile world shaped by social media and propaganda. Field Marshal Asim Munir expressed these views during an interaction with a delegation of students from Harvard Business School representing multiple countries during their visit to Pakistan, the military’s media wing said on Friday. According to a statement issued by the Inter-Services Public Relations (ISPR), the interaction focused on regional and global
developments, Pakistan’s security outlook and efforts to promote peace, stability and prosperity in the region and beyond. The CDF and COAS highlighted the importance of equipping young people with education and practical skills while encouraging entrepreneurship to enable them to play a constructive role in addressing emerging challenges. He also stressed the importance of applying “fact-based analytics” in understanding an increasingly complex and volatile global environment, particularly amid the growing influence of social media and propaganda. The Harvard Business School students, meanwhile, shared their “wonderful experiences” during their ongoing visit to Pakistan, particularly appreciating the openness and warmth of the Pakistani people, the statement said. The visiting students also acknowledged
the “tremendous potential and opportunities” Pakistan possesses, ISPR added. Saudi minister calls on Field Marshal Syed Asim Munir Meanwhile, Minister of Environment, Water and Agriculture of the Kingdom of Saudi Arabia Eng. Abdulrahman Abdulmohsen AlFadley called on Chief of Army Staff (COAS) and Chief of Defence Forces (CDF) Field Marshal Syed Asim Munir, NI (M), HJ, at General Headquarters (GHQ) on Friday. During the meeting, matters of mutual interest were discussed, said a news release issued by ISPR. The military’s media wing said Field Marshal Asim Munir highlighted the deeprooted brotherly relations between Pakistan and the Kingdom of Saudi Arabia and reaffirmed Pakistan’s commitment to further strengthening the longstanding strategic partnership between the two brotherly countries.
The Saudi dignitary appreciated Pakistan’s positive role in promoting regional peace and stability and expressed his desire to
enhance cooperation between the two brotherly countries, particularly in the areas of agriculture and environmental sustainability.
02 NEWS
PAKISTAN’S FIVE REFINERIES AGREE TO SIGN $6B UPGRADE DEALS EARLY NEXT MONTH
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Saturday, 29 August, 2026 | LAHORE
ALI PERVAIZ MALIK SAYS UPGRADES WILL SUPPORT LONG-TERM REFINERY SUSTAINABILITY AND ENABLE DOMESTIC PRODUCTION OF EURO 5-COMPLIANT FUEL ISLAMABAD
AhMAd AhMAdAni
AKISTAN’S five major oil refineries are ready to sign agreements under the Brownfield Refinery Upgradation Policy early next month, with the agreements expected to unlock approximately $6 billion in investment in the country’s refining sector. Federal Minister for Petroleum Ali Pervaiz Malik held meetings with the managements of Pak Arab Refinery Limited, Pakistan Refinery Limited, National Refinery Limited, Cnergyico and Attock Refinery Limited to review progress towards implementation of the Brownfield Refinery Upgradation Policy, the financial and operational performance of the refineries, and measures to strengthen Pakistan’s energy security. The managements of all five refineries reaffirmed their readiness to sign agreements under the Refinery Upgradation Policy, with the agreements expected to be signed early next month. "The agreements are expected to unlock approximately $6 billion in investment in
Afghan border closure drags Pakistan, Central Asia trade down 51% to $219 million in FY26
Pakistan’s refining sector," according to the information shared during the meetings. The minister highlighted that refinery upgradation is essential for the long-term sustainability of the country’s refining sector. "Refinery upgradation is essential for the long-term sustainability of the country’s refining sector," Ali Pervaiz Malik said. He said the planned upgrades would enable refineries to produce Euro 5-compliant fuel products in Pakistan. "Producing these products domestically would help reduce reliance on imported petrol and diesel and could also help bring down their price compared to imported products," he said. The minister stressed that timely signing of the agreements was imperative for taking forward the upgradation programme. "Timely signing of the agreements was imperative for taking forward the upgradation programme," he said. He said the government would continue to facilitate the refineries in addressing any issues related to implementation of the policy. During a separate meeting with PARCO management, the petroleum minister was
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PROFIT
Pakistan lacks concrete plan to tackle impact of fresh US sanctions on Iran trade: report PROFIT
Strait of Hormuz crisis. In meetings with Cnergyico, NRL and ARL, the petroleum minister sought the views of the respective Managing Directors on any impediments to implementation of the New Refinery Upgradation Policy. The managing directors informed the minister that their respective companies had completed the required preparations and were now ready to sign the agreements, which would constitute the first step towards implementation of the policy. The Managing Director of ARL highlighted the need to upgrade existing refineries to ensure their compliance with changing global dynamics and evolving fuel standards. He also appreciated the petroleum minister’s leadership, noting the pivotal role played by the Ministry in advancing major reforms in the petroleum sector. Malik reiterated that modernising Pakistan’s refining capacity was important not only for improving the quality and efficiency of petroleum products but also for strengthening domestic supply resilience, reducing reliance on imported petrol and diesel, and advancing the country’s broader
SBP profit falls 20% to Rs1.99 trillion in FY26 on lower earnings RS1.932 TRILLION SURPLUS REMITTED TO FEDERAL GOVERNMENT AS DISCOUNT AND INTEREST INCOME DROPS TO RS2.037 TRILLION PROFIT
Monitoring report
Pakistan’s bilateral trade with five Central Asian countries plunged 50.62% year-onyear to $219.125 million in FY26, as the closure of border trade stations with Afghanistan disrupted land-based trade routes, particularly those used to access the region. Trade with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan stood at $443.712 million in FY25. The decline was driven mainly by an 88.35% fall in imports, which dropped to $28.547 million from $244.990 million. Exports were comparatively resilient, falling 4.1% to $190.578 million from $198.722 million. Pakistan’s annual trade with the Central Asian republics is estimated at between $400 million and $500 million through Afghanistan, making the disruption to Afghan transit routes a major constraint on regional commerce. Uzbekistan has already implemented its transit trade agreement with Pakistan and has started importing goods under the arrangement. Kazakhstan remained Pakistan’s largest trading partner among the five Central Asian countries in FY26, with bilateral trade of $104.313 million, down 54.22% from FY25. Uzbekistan followed with trade worth $87.732 million. Tajikistan recorded the steepest decline in bilateral trade, which fell 69.56%, followed by Turkmenistan at 61.36%. Kyrgyzstan was the only country where total bilateral trade increased, rising 6.66%.
briefed on the company’s financial and operational performance, along with its broader plans for strengthening Pakistan’s energy security. He appreciated PARCO for managing its operations effectively during the Strait of Hormuz crisis. "Pakistan successfully managed the crisis and ensured that the country’s petroleum supply system did not run dry," he said. Malik emphasised that maintaining continuity of petroleum supplies and building resilient supply chains remained essential components of Pakistan’s energy security. He was also briefed on ongoing developments concerning the proposed Oil City in Hub, envisaged as a strategic energy terminal and storage complex. The project is aimed at strengthening energy security, enhancing trade connectivity, supporting supply assurance and contributing to economic growth. In a meeting at PRL, the Managing Director, Board of Directors and management briefed the federal minister on the company’s current financial and operational performance. The management also apprised the Minister of measures taken to maintain continuity of refinery operations during the
Monitoring report
The State Bank of Pakistan’s (SBP) net profit declined 20% year-on-year to Rs1.99 trillion in FY26, down Rs506 billion from Rs2.499 trillion in FY25, mainly due to lower income from financial assets. According to the SBP’s financial statements for the year ended June 30, 2026, released on Thursday, the central bank’s profit declined by Rs506 billion from Rs2.499 trillion in FY25. The SBP’s income from discount, interest, mark-up and profit earned on financial assets fell to Rs2.037 trillion in FY26 from Rs2.801 trillion a year earlier, a decline of Rs764 billion. After accounting for appropriations under the applicable accounting and statutory requirements, the SBP trans-
ferred Rs1.932 trillion in surplus profit to the federal government. The remittance adds to the central bank’s role as a significant source of government nontax revenue and helps reduce the need for additional domestic borrowing. The SBP has remitted trillions of rupees to the government over the past three years. The transfers have helped the government manage its fiscal position and meet financing requirements amid recurring shortfalls against tax revenue targets. The surplus liquidity has also supported the retirement of short-term domestic debt and increased borrowing through longer-term Pakistan Investment Bonds (PIBs), while holdings of short-term Market Treasury Bills have declined over the period. The decline in SBP profitability comes amid an easing of monetary pol-
icy. The benchmark interest rate, which had reached a peak of 22%, has been reduced in stages to 11.5%. Meanwhile, banknote and prize bond printing charges increased to Rs29.1 billion in FY26 from Rs24.667 billion in FY25, an increase of Rs4.433 billion, or around 18%. Banknote printing charges are paid to Pakistan Security Printing Corporation (Private) Limited, a wholly owned subsidiary of the SBP, under agreed rates and specific arrangements. The unconsolidated statements and auditors’ report were also transmitted to the federal government and the Majlis-e-Shoora (Parliament) under Section 40(3) of the State Bank of Pakistan Act, 1956. Separately, Pakistan’s domestic debt reached Rs59.94 trillion at the end of FY26, increasing by 9%, or approximately Rs4.969 trillion, during the year.
Cotton adulteration puts Pakistan’s textile exports at risk, industry warns PROFIT
Monitoring report
Alleged large-scale adulteration of raw cotton at ginning factories has raised concerns within Pakistan’s textile industry, with some leading mills suspending local procurement over deteriorating quality and the growing presence of cotton waste in bales. According to a report by Dawn, ginning factories in several areas, particularly Sanghar district in Sindh, are allegedly mixing significant quantities of cotton waste with raw cotton. The practice intensified during the 2025-26 season after monitoring activities were suspended following the registration of a criminal case against the
Pakistan Cotton Ginners Association (PCGA) Monitoring Committee team in Tando Adam. Members of the raiding team subsequently sought bail from the Hyderabad bench of the Sindh High Court, bringing active monitoring to a halt. The problem has also reportedly extended to textile mills, where laboratory staff at some facilities allegedly colluded with ginners and accepted bribes to approve adulterated bales as good-quality cotton. Several textile mill owners have responded by dismissing their laboratory teams and ordering fresh sampling of warehouse stocks. Mills are also returning adulterated cotton to suppliers. As per the report, the scale of the
problem emerged earlier this week when a textile mill in Dera Ghazi Khan received 200 bales containing a high proportion of waste. Representatives of the PCGA and cotton brokers were called to verify the suspected adulteration. Cotton Ginners Forum Chairman Ihsan-ul-Haq said the practice, previously associated with concealing waste inside bales and referred to as “burger cotton”, was damaging the quality of cotton available to the textile industry. Industry sources said leading textile mills have begun suspending local cotton purchases because of quality concerns. This could put further pressure on raw and seed cotton prices and increase the industry’s dependence on imported cotton.
energy security objectives. "Modernising Pakistan’s refining capacity was important not only for improving the quality and efficiency of petroleum products but also for strengthening domestic supply resilience, reducing reliance on imported petrol and diesel, and advancing the country’s broader energy security objectives," he said. The petroleum minister said the government remained committed to working with the refining industry to ensure timely implementation of the New Refinery Upgradation Policy and to facilitate the investments required for the sector’s modernisation. "The government remained committed to working with the refining industry to ensure timely implementation of the New Refinery Upgradation Policy and to facilitate the investments required for the sector’s modernisation," he said. The planned agreements with the five major refineries are expected to mark a major step towards modernising Pakistan’s refining infrastructure, enabling domestic production of Euro 5-compliant fuel products, reducing reliance on imported petrol and diesel, and strengthening the country’s energy security.
SECP unveils unified digital onboarding framework, promises one-day account opening PROFIT
news desk
The Securities and Exchange Commission of Pakistan (SECP) has rolled out a unified digital investor onboarding framework designed to cut down on repeated verification steps and simplify paperwork for those entering the country's capital market. According to a statement issued Friday, the new system is geared primarily toward firsttime and digital investors, promising to process Sehl/Sahulat accounts within a single working day and Normal Accounts within two. The framework was issued through Circular No. 19 of 2026 and standardises onboarding rules across securities brokers, asset management companies, insurers and other regulated intermediaries, aiming for a more uniform investor experience throughout the regulated financial sector. Applicants will be issued tracking IDs under the framework, with any deficiencies flagged within set timeframes and rejections explained in writing. The move forms part of a broader SECP push to widen retail participation, especially among younger Pakistanis, with the regulator aiming to grow the country's investor base to 2.5 million. SECP Chairman Kabir Ahmed Sidhu said the goal was to strip away entry barriers using technology, making the investor journey "simpler, faster and more accessible." He added that the initiative was meant to tap into the market's substantial untapped potential by drawing in a broader, younger base of participants and building a deeper, more inclusive market. Among its central features is the removal of duplicate customer verification: where an eligible regulated institution or notified third party has already completed the required checks, intermediaries can rely on that existing verification rather than making investors repeat the process. The framework also supports API-based straight-through processing and fully digital onboarding, including instant issuance of Unique Identification Numbers (UINs) and the opening of CDC sub-accounts, cutting down on paperwork and manual handling.
Monitoring report
Pakistan has reportedly yet to formulate a concrete strategy to address the potential impact of new US restrictions on Iran, which could disrupt informal trade between the two neighbouring countries. According to a news report by Business Recorder, the Ministry of Commerce (MoC) officials said Islamabad was monitoring the situation, but the implementation of “Economic D-Day”, announced by US Treasury Secretary Scott Bessent on August 24 and envisaging prohibitive secondary sanctions on countries trading with Iran, had not yet begun. While Pakistan’s official exports to Iran remain negligible, informal bilateral trade is estimated at around $800 million annually and is conducted largely through informal channels and barter arrangements. Trade data showed that 1,209 trucks carrying rice crossed Gabd during June-July 2026, while 1,121 trucks carrying mangoes passed through Taftan during the same period. Security concerns, particularly along the Quetta-Taftan route in Balochistan, remain another challenge. Officials said attacks on cargo vehicles have continued despite their movement in Frontier Corps (FC) convoys. For formal trade, Pakistan has waived the requirement for financial instruments for imports from Iran and cargo under CARS through the Iran corridor. Exports of essential items, including food, medicines and tents, as well as rice shipments to CARS/Azerbaijan through the Iran land route, have also been exempted from the requirement for three months. The issue comes as Pakistan and Iran seek to expand formal trade. At the 10th meeting of the PakIran Joint Trade Committee, held in Islamabad from August 3-5, 2026, both sides discussed trade, customs, transportation and other trade-related matters.
DRAP ordered overhaul of drug pricing rules, curb unjustified medicine price hikes g
MINISTER FOR ECONOMIC AFFAIRS DIRECTS REVIEW OF IMPORTER MARGINS RUNNING AS HIGH AS 40%, ADDS HEALTH ECONOMIST TO DRAP BOARD PROFIT
news desk
Federal Minister for Economic Affairs and Establishment Division Ahad Cheema has directed the Ministry of National Health Services and the Drug Regulatory Authority of Pakistan (DRAP) to urgently revise the regulatory framework governing drug pricing, including changes to the Hardship Policy and the composition of the DRAP Policy Board, with a focus on protecting consumers from unjustified price increases while keeping essential medicines available. Chairing a meeting on drug pricing, Cheema expressed dissatisfaction with DRAP's existing formula for calculating medicine price increases, calling for a comprehensive review to ensure any revision is transparent, evidence-based and fully justified. He directed DRAP to strengthen the formula with greater scrutiny and independent checks so that cost pressures are not automatically passed on to consumers. Cheema instructed the Secretary of National Health Services and DRAP's CEO to finalise revised Hardship Policy rules at the earliest opportunity for presentation to the
relevant approval forum. He stressed that the framework must ensure hardship provisions offer relief only in genuine cases, rather than becoming a route for shifting disproportionate commercial costs onto patients. The minister also directed a revision of the DRAP Policy Board's composition to strengthen expertise and evidence-based decision-making, specifically calling for the inclusion of a health economist and a public health expert. Both the health ministry and DRAP agreed to the proposal, and Cheema instructed officials to begin the process and submit the changes for approval promptly. "Drug-pricing decisions have a direct impact on millions of households. Our regulatory framework must therefore combine pharmaceutical sustainability with affordability and strong consumer protection," Cheema said. DRAP officials briefed the minister on the existing Hardship Policy and its application to essential medicines. Cheema noted that importers often seek relief under the policy while simultaneously requesting price increases, and said the revised rules must ensure that benefits granted under the Hardship Policy are
reflected in pricing rather than adding further burden on consumers. He said importers already benefiting from tax concessions or other government relief under the Hardship Policy should be prepared to rationalise their own margins instead of passing the full cost onto consumers. Cheema directed DRAP to examine existing importer and retailer margins — which can run as high as 40% in some cases — and provide for their rationalisation under the revised rules. "If the Government is extending relief under the Hardship Policy, the importer and retailer must also share the burden through reasonable adjustment of their margins. This adjustment should take place within the supply chain and must not, under any circumstances, be passed on to the consumer," Cheema said, directing officials to build a mechanism for margin rationalisation into the proposed rules and submit the revised framework promptly for approval. The minister said the regulator bears responsibility for maintaining fair market balance — keeping essential medicines available while protecting patients from unjustified price hikes — adding that commercial viability, while important,
cannot come at the expense of consumers. The meeting also reviewed pricing mechanisms for originator and existing brands. DRAP officials said reference pricing, based on prices in neighbouring and other relevant countries, is currently used for originator brands. Cheema said this international reference pricing should be backed by an independent verification mechanism to ensure decisions rest on credible data reflecting actual market conditions. He directed DRAP to build a stronger, more independent system of checks within the pricing framework to ensure transparency and effective oversight, adding that a sustainable pharmaceutical market must go hand in hand with affordability and protection of public interest. Cheema said the government, under Prime Minister Muhammad Shehbaz Sharif, remains committed to providing maximum relief to the public, stressing that access to affordable medicines is directly tied to public welfare and that regulatory mechanisms would continue to be strengthened to balance the pharmaceutical sector's needs with consumer interests. Secretary National Health Services Muhammad Mehmood (Retd Captain), DRAP CEO Dr Obaidullah, DRAP's Director Pricing, and other senior officials attended the meeting.
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Saturday, 29 August, 2026 | LAHORE
GOVT DECIDES TO WITHDRAW TELECOM AMENDMENT BILL OVER UNRESOLVED RIGHT OF WAY ISSUES
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The bill was introduced in the Senate on June 15, 2026. The proposed legislation sought to revise the RoW framework under the Pakistan Telecommunication (Re-organization) Act, 1996, covering private, common development and public property. It proposed time-bound procedures for RoW approvals, including 30 days for property managers or public authorities to respond, followed by 45 days for the relevant government to decide referred cases. The bill also proposed free underground RoW on common development and public property, exemptions for certain temporary and telecom installations, and penalties for
PROFIT
STAFF REPORT
HE government has decided to withdraw the Pakistan Telecommunication (Re-organization) (Amendment) Bill, 2026, after finding that the proposed changes failed to resolve long-standing Right of Way (RoW) issues facing the telecom sector, Business Recorder reported. Minister for Information Technology and Telecommunication Shaza Fatima Khawaja will seek the Senate’s permission to withdraw the bill on Friday (today) under Rule 115.
unlawful obstruction of RoW. Sources said the government subsequently reviewed the proposed amendments and concluded that the bill was not delivering the intended policy and regulatory outcomes, particularly in resolving RoW-related problems. RoW remains a major hurdle for telecom operators seeking to expand fibre, mobile and other digital infrastructure. Industry stakeholders have long called for a clear and uniform framework to reduce delays, costs and administrative barriers to network deployment. The withdrawal is expected to allow the government to develop a revised approach to address RoW issues in the telecom sector.
Pakistan’s solar boom prompts calls to rethink costly LNG contracts PROFIT
STAFF REPORT
Parliamentarians and energy experts have urged the government to reconsider long-term energy contracts that could lock Pakistan into costly take-orpay obligations and add to circular debt, calling for greater flexibility in LNG and other fuel imports as the country’s rapid solar expansion reshapes energy demand. The calls came during a dialogue titled “The Sun and the Pipeline: Energy Contracts in an Era of Solar Disruption in Pakistan,” organised by the Parliamentary Forum on Energy and Economy in Islamabad. The discussion examined Pakistan’s changing RLNG requirements, global market volatility and geopolitical risks, as well as policy options aimed at maintaining energy security while protecting consumers from rising costs. Pakistan has deployed an estimated 50 gigawatts of solar capacity in just a few years, largely without public subsi-
dies, across utility-scale projects, net-metered systems, agricultural applications, off-grid installations and behind-themeter generation. This capacity is estimated to generate around 54.75 terawatt-hours of electricity annually, equivalent on a gross-energy basis to nearly 1,279 million cubic feet per day of gas-fired generation. Experts said the scale of solar deployment represents a structural shift that has outpaced many of the assumptions underlying Pakistan’s long-term gas and LNG commitments. Dr Nafisa Shah, Convener of the Parliamentary Forum on Energy and Economy and Member of the National Assembly, said Pakistan needed to revisit its energy mix and regulatory framework to reflect the rapid growth of distributed solar generation. She said long-term take-or-pay contracts had contributed to expensive electricity and stressed that future energy planning should account for the changing demand profile created by solar power. “We are not simply choosing solar
PM offers Nepal emergency aid in call with Premier Balendra
All-Pakistan Textile Mills Association, said Pakistan’s LNG challenge was no longer limited to securing supplies. He said the expansion of solar had changed the timing and volume of RLNG demand, making flexibility, affordability and market design increasingly important in determining the type of LNG portfolio Pakistan could sustain. Syed Faizan Shah, Energy Expert and Adviser to the Power Minister, said Pakistan should focus on building an energy system that is more resilient to external price shocks and more efficient across generation, transmission and distribution. He said expanding indigenous solar generation, supported by battery energy storage and other modern technologies, could improve system flexibility and reliability, reduce losses, optimise existing infrastructure and offer consumers greater protection against fluctuations in international fuel prices. The dialogue was attended by parliamentarians, energy experts, civil society representatives and members of academia.
Consumers may face Rs36.5b fuel cost burden in Sept bills as NEPRA weighs Rs2.52/unit hike
ISLAMABAD
STAFF REPORT
over LNG,” she said. “We are looking for a flexible, competitively priced energy layer that ensures security without penalising the progress Pakistan has made in distributed generation.” Barrister Danyal Chaudhry, Parliamentary Secretary for Information and Broadcasting and Secretary of the Parliamentary Forum on Energy and Economy, said the policy debate should move beyond treating solar and gas as competing alternatives. He said Pakistan needed to determine how solar generation, gas infrastructure, the electricity grid and emerging technologies could work together to provide affordable, reliable and secure energy. Muhammad Arif, former Member Gas at the Oil and Gas Regulatory Authority (OGRA) and a petroleum law, policy and regulatory adviser, called for greater integration in energy governance and mechanisms to monetise surplus solar generation, particularly during periods of high solar output. Asim Riaz, Energy Adviser at the
PROFIT
Prime Minister Muhammad Shehbaz Sharif on Friday spoke by telephone with Nepalese Prime Minister Balendra Shah and conveyed heartfelt condolences over the tragic loss of lives and widespread devastation caused by recent flashfloods and landslides in Nepal, assuring him of Pakistan’s complete solidarity and offering all possible assistance. During the telephone conversation, the prime minister expressed solidarity with the Nepali leadership and people on behalf of the Government and people of Pakistan and offered whatever possible assistance was required at this difficult time. Prime Minister Shehbaz also conveyed to his Nepali counterpart that Pakistan was dispatching emergency relief assistance to Nepal to support ongoing relief efforts. Prime Minister Balendra Shah thanked Prime Minister Shehbaz for the telephone call and his expression of solidarity and support in the wake of the natural calamity. He also expressed gratitude for Pakistan’s generous offer of assistance. PAKISTAN, NEPAL CALL FOR STRONGER BILATERAL COOPERATION IN TRADE, OTHER FIELDS In a related development, Pakistan and Nepal called for stronger bilateral cooperation in trade, tourism, education and people-to-people contacts, with Federal Parliamentary Secretary for Information and Broadcasting Barrister Danyal Chaudhry stressing the restoration of direct flights between the two countries to improve connectivity and make air routes economically viable. The issue was discussed at a meeting of the Pakistan-NepalBhutan Parliamentary Friendship Group at Parliament House, Islamabad, chaired by Convener and MNA Dr Mahesh Kumar Malani. Barrister Danyal said restoration of direct air links would open new avenues for trade and tourism while facilitating greater people-topeople contact between Pakistan and Nepal. He stressed that improved air connectivity was essential to deepening bilateral relations and creating economically viable routes between the two countries. The meeting reviewed Pakistan-Nepal relations, trade links and avenues for expanding mutual cooperation. Nepal’s Ambassador to Pakistan, Rita Dhital, said the two countries enjoyed longstanding and brotherly relations and had considerable potential to take bilateral ties to new heights through expanded cooperation in diverse fields. NEPAL FLOOD TOLL REACHES 579, NEARLY 1,924 REMAIN MISSING Meanwhile, Nepal’s disaster authority on Friday put the number of people missing after devastating floods at 1,924, two days after the disaster killed at least 579 people in the country.
STAFF REPORT
Pakistan’s electricity consumers could face an additional burden of Rs36.54 billion in their September bills after the National Electric Power Regulatory Authority (NEPRA) reserved its decision on a proposed fuel cost adjustment of Rs2.518 per unit for July 2026. The proposed increase, sought by the Central Power Purchasing Agency-Guaranteed (CPPA-G) on behalf of electricity distribution companies, has been attributed to a sharp rise in power generation costs driven by the use of costly imported fuel. According to CPPA-G, the actual fuel cost of electricity generation rose to Rs9.6112 per unit in July, compared with the reference fuel cost of Rs7.0929 per unit. It has requested NEPRA to allow the
recovery of the difference from consumers through the monthly fuel cost adjustment mechanism. If approved, the Rs2.518 per unit adjustment would be reflected in electricity bills for September. The proposed charge stands in contrast to July 2025, when electricity consumers received a refund of Rs1.79 per unit under the monthly fuel cost adjustment. The Karachi Chamber of Commerce and Industry (KCCI) opposed the proposed increase during the hearing, urging the government to consider using locally available furnace oil instead of expensive imported liquefied natural gas (LNG), where feasible. It also called for the removal of the levy imposed on furnace oil. KCCI warned that consumers could face a cumulative increase of around Rs6 per unit from Septem-
ber 1 due to the combined effect of monthly and quarterly tariff adjustments. In addition to the proposed Rs2.518 per unit monthly fuel cost adjustment, a Rs1.52 per unit upward quarterly adjustment for the third quarter of 2026 is expected to be filed with NEPRA. Meanwhile, the existing Rs1.98 per unit relief provided under the April-June quarterly adjustment is set to expire, further increasing the burden on consumers. The chamber said the combined impact of these adjustments could raise electricity costs for households and businesses. It also argued that the government had reduced the reference tariff value to limit its subsidy burden, shifting an estimated Rs250 billion in costs to consumers. NEPRA will issue its detailed decision on the proposed July fuel cost adjustment separately.
10 parties qualify for FESCO privatisation next stage PROFIT
STAFF REPORT
The privatisation process for Faisalabad Electric Supply Company (FESCO) is moving into its due diligence phase after the Privatisation Commission (PC) Board approved 10 interested parties for prequalification on Friday. The successful parties will be given access to the Virtual Data Room (VDR) to carry out detailed buy-side due diligence, marking the next stage of the transaction, the PC said in a statement. The decision followed the submission of 12 Expressions of Interest (EOIs) for FESCO. After evaluating the applications against the approved prequalification criteria, the Financial Adviser recom-
mended 10 parties for qualification. The board approved Aktor Elektrik Enerji Yatirimlari San. Ve Tic. A.S., Genvera Enerji A.S., Cengiz Enerji Sanayii Ve Ticaret A.S., Engro Energy Limited, Sapphire Fibres Limited and the Hub Power Holdings Consortium, comprising Lucky Cement, Kohat Cement and Metro Ventures. The remaining approved parties are Shirazi Investments (Pvt) Lim-
ited, the Maple Leaf Cement Factory Limited Consortium with Kohinoor Textile Mills, the Pakgen Limited Consortium comprising Nishat Mills, Nishat Power, Nishat Chunian, Lalpir, Pak Elektron and Kohinoor Energy, and Artistic Milliners (Pvt) Limited. Jiang Xi Electric Power Construction of China and K-Electric Limited, which had also submitted EOIs, were not among the 10 parties approved for prequalification. The board meeting was chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and chairman of the Privatisation Commission. The PC Board also approved the reconstitution of its Audit and Risk, Human Resources, Investment and Legal Committees.
PM hails Makkah Pact for bringing Pakistan, Saudi Arabia and Türkiye closer CONTINUED FROM PAGE 01
The two sides also discussed ways to improve agricultural productivity in Pakistan through technology, research and development, and more efficient use of water resources. PM Shehbaz announced that a delegation of Pakistani agricultural experts would soon visit Riyadh to advance discussions and explore the full potential of bilateral cooperation. The Saudi minister thanked the prime minister for the hospitality extended to him and his delegation and reaffirmed Riyadh’s commitment to expanding cooperation with Pakistan in agriculture, water and food security. DEFENCE PACT DEEPENS TRILATERAL SECURITY COOPERATION The Makkah Joint Defence Agreement was signed by Turkish President Recep Tayyip Erdogan, Saudi Crown Prince Mohammed bin Salman and Prime Minister Shehbaz Sharif at Al-Safa Palace. Under the agreement, an attack against any one of the three signatories will be treated as an attack against all of them. The pact seeks to strengthen collective security and promote peace, security and stability in the region and beyond. Pakistan has said the agreement remains open to other regional countries willing to uphold its fundamental principles. Bangladesh Foreign Minister Khalilur Rahman said on Thursday that Dhaka would positively consider joining the pact if invited by its founding members. ASIM MUNIR, SAUDI MINISTER DISCUSS WIDER COOPERATION Separately, Chief of Defence Forces and Chief of Army Staff Field Marshal Asim Munir met Minister Al-Fadley at General Headquarters in Rawalpindi. The two sides discussed matters of mutual interest, with Field Marshal Munir highlighting the brotherly relations between Pakistan and Saudi Arabia and reaffirming Islamabad’s commitment to further strengthening the longstanding strategic partnership. The Saudi minister appreciated Pakistan’s positive contribution to regional peace and stability and expressed Riyadh’s desire to expand bilateral cooperation, particularly in agriculture and environmental sustainability.
Barrister Iftikhar Gillani sworn in as AJK prime minister CONTINUED FROM PAGE 01
Gillani also called for improvements in hospitals and the healthcare system, saying even modest progress in employment, education and health would help address many of the region’s problems. He expressed confidence that the PML-N’s majority in the assembly would combine the experience of senior politicians with the energy of younger members to deliver development. “I am confident that at the end of our tenure, AJK’s prosperity and development will be used as an example all over Pakistan,” he said. ASSEMBLY STRENGTH The AJK Assembly has 53 seats, but its current strength stands at 46 as elections to seven constituencies in Poonch and Sudhnoti districts have yet to be held. The PML-N and its allies have 32 members, while the PPP has 14. Only 44 members voted on Friday as Speaker Tariq Farooq did not cast his vote and PML-N regional president Shah Ghulam Qadir was absent from the House. Qadir and former AJK premier Raja Farooq Haider had earlier opposed Gillani’s nomination. However, Haider entered the assembly alongside Gillani when Friday’s proceedings began, while Qadir remained absent. Gillani succeeds PPP’s Faisal Mumtaz Rathore, who had become prime minister in November 2025. Prime Minister Shehbaz Sharif congratulated Gillani on his election and expressed hope that he would play an effective role in the development of AJK and the welfare of its people. The prime minister also assured AJK residents that the federal government would continue providing support for the region’s development, prosperity and improved living standards.
PM orders third-party audit of FBR reforms to ensure transparency CONTINUED FROM PAGE 01
It was informed that step-by-step work was underway on IRIS 3.0, a new tax operating model and a central data hub to make the tax system modern, integrated and data-driven. International consultants have also been hired to design IRIS 3.0. Swift work was underway on a project under IRIS 3.0 to make the tax system more effective, pilot auto-taxation and utilise artificial intelligence and machine learning in the future to improve
tax collection. The participants were told that new senior-level appointments had been made in PRAL across various sectors, including technology, data security, operations and the tax domain. Regarding the positive impacts of faceless assessment in the customs sector, the meeting was informed that from January to June 2026, there was a 12 per cent increase in average revenue per Goods Declaration (GD). The system had also helped improve the
identification and monitoring of import irregularities, the meeting was told. The meeting was further briefed that the recruitment process for 280 goods evaluators was in its final stages and a Central Assessment Unit was being established in Islamabad. The unit would be made operational by December 31, 2026, as an interim arrangement, before becoming fully functional in a new complex by June 2027. It was informed that in July 2025, transactions worth PKR 236 billion took place through digital invoicing, which increased
to PKR 2.5 trillion in July 2026. A target of PKR 4 trillion has been set for December this year. Regarding prevention of smuggling, several measures had been taken to prevent the illegal movement of petroleum products, including GIS tagging of all legal petrol pumps, tracking of petroleum products through GPS, connecting the ERP system of Oil Marketing Companies with the tracker and developing a central tracking app for law enforcement agencies. Through the Rahguzar app, 2,500 illegal
petrol pumps were closed down, while legal action was initiated. Digital monitoring of the sale of petroleum products and other measures were also being worked out. The meeting was attended by federal ministers Azam Nazeer Tarar, Dr. Musadik Masood Malik, Ahad Khan Cheema, Muhammad Aurangzeb, Attaullah Tarar and Shaza Fatima Khawaja; Minister of State Bilal Azhar Kayani; Member of the National Assembly Usman Owaisi; State Bank Governor Jameel Ahmad; FBR chairman and relevant senior officials.
04 COMMENT
Saturday, 29 August, 2026
Why everyone wants to fix Pakistan but not themselves
Doing business with the Mid-East
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FTER meeting a Saudi business delegation on Wednesday, Prime Minister Shehbaz Sharif did another military deal with Kuwait. All this was in the backdrop of CDS Field Marshal Asim Munir’s visit to Iran, all indicating the deeper involvement of Pakistan in the Middle East and the regional crisis precipitated by the US attack on Iran. The business delegation represented a particularly hardheaded follow-up to the recent Makkah Declaration, which was on the face of it a military and strategic agreement, but which indirectly implied that there had to be an economic alignment also. It is safe to predict that while a Turkish business delegation will visit Pakistan or a Pakistani one Turkiye, there will be an exchange of visits between Turkish and Saudi businessmen. Though a military alliance need not be accompanied by an economic, the example of the European Union and NATO is there, buttressed by that of SEATO and ASEAN. Even CENTO of old had the RCD. This visit is also a quiet Saudi acknowledgement that the relationship with Pakistan is changing. Whereas it was once a source of labour, and anxious for loans. It is now a source of investment opportunities. It remains a major contributor to Saudi economic prosperity through its labour force, and it continues to expect Saudi largesse, what with no less than $5 billion of its foreign exchange reserves consisting of Saudi deposits. It is worth noting that Saudi interest continues to be in the dynamic areas of the Pakistani economy, such as agriculture and minerals. Where the Saudi state may be faulted, as in its foreign exchange support, for taking a more geopolitical view than a purely economic, its investment activity is purely economic, and symbolized by Prince Mansoor bin Muhammad AlSaud being the chairman of the joint Pak-Saudi Chamber of Commerce and the leader of the delegation. Mr Sharif’s meeting them should also indicate how seriously Pakistan takes this relationship. It should not be forgotten that the current Middle East crisis, which led to the Makkah Declaratiom, has affected Saudi Arabia doubly. First, because the closure of the Hormuz Strait affected its oil exports, and secondly, because it jeopardizes the trade corridor across it linking India to the Israeli port of Haifa. It is therefore only logical for Saudi Arabia to seek investment opportunities. Pakistan should therefore be careful that it does not miss out.
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The universal law
Rizwan ahmad
VERYONE wants to fix Pakistan. Politicians blame those who came before them. Bureaucrats blame political interference. Businesses blame excessive taxation. Journalists blame political polarisation. Intellectuals blame a society that seems to have lost its bearings. And ordinary citizens blame almost everyone in authority. Each may have a point. But when everyone can identify the problem, why does the problem remain? Perhaps because we have become very good at looking outward and remarkably uncomfortable with looking inward. Pakistan has become remarkably good at identifying its problems and remarkably reluctant to examine the habits that sustain them. We have no shortage of diagnoses. There are speeches, debates, commissions, reports and policy papers explaining what is wrong with the country. What remains scarce is the willingness to accept that reform is not merely something governments owe citizens. It is also something citizens owe themselves. We have become accustomed to imagining Pakistan as a machine that somebody else is supposed to repair. Every government arrives promising a new beginning. Every opposition promises that it possesses the missing formula. Every economic crisis produces a new group of experts explaining what must be done. Yet when the political cycle turns, much of the country returns to the same arguments, the same grievances and, remarkably, the same mistakes. Perhaps the problem is not that Pakistan lacks people who know what needs to be done. Perhaps it is that too many people want reform without accepting the inconvenience of being reformed themselves. Consider the rule of law. Almost everyone agrees that Pakistan needs stronger institutions and equal application of the law. But our commitment to legality often becomes conditional when the law reaches our own doorstep. We complain about influence, privilege and political interference, yet many quietly admire these very things when they work in our favour. We want merit, provided our own candidate is not disadvantaged by it. We want accountability, provided it begins with someone else. We want an honest tax system, provided it does not increase our own contribution. We want efficient public institutions, while continuing to treat personal connections as a shortcut around them. This contradiction is not confined to one class, profession or political camp. It has become a national habit.
Dedicated to the legacy of late Hameed Nizami
Arif Nizami (Late) Founding Editor
Politicians demand democratic values from the state, yet political parties themselves often remain heavily dependent on personalities. Leaders speak about institutions but frequently build political movements around individuals. Opposition is praised when one is in opposition and condemned when the same principle is exercised against oneself. The business community rightly demands a predictable economic environment. But a stable economy also requires a broader social contract, including a culture of taxation and compliance. No state can provide better public services without citizens and businesses accepting that public services have to be financed. Then there is the ordinary citizen. The citizen is often portrayed only as the victim of a dysfunctional system. And there is considerable truth in that description. Ordinary Pakistanis have endured inflation, unemployment, inadequate public services and repeated economic shocks. But citizenship is not merely a collection of rights. It also carries responsibilities. We complain about municipal failure while throwing rubbish into the street. We condemn lawlessness while ignoring traffic rules. We criticise corruption while seeking a personal favour from an official. We complain about misinformation while forwarding unverified claims. Each of these acts may appear insignificant. Collectively, however, they create the culture within which institutions operate. A country does not become corrupt merely because corrupt officials exist. Corruption survives when society learns to accommodate it. The same contradiction can be seen in our public discourse. We have become increasingly comfortable with outrage. Social media has transformed disagreement into spectacle. The loudest argument often receives more attention than the strongest one. Nuance
The country is not something separate from our daily lives. It is reflected in our institutions, our choices, our compromises, our conduct and our expectations. Everyone wants to fix Pakistan. The real test begins when we ask ourselves a more uncomfortable question: what are we willing to fix in ourselves?
From Hormuz to Petrodollars M. A. Niazi
Babar Nizami
Editor Pakistan Today
Editor Profit
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New Middle East security equation Saqlain abid
HE Iran war appears to be entering a panic phase as US President Donald Trump has reportedly warned Oman that it could also face US military action if Washington moves to capture or control the Strait of Hormuz and Oman becomes involved. Desperate for an exit, Trump’s state of mind appears increasingly disruptive rather than strategic. Just a day earlier, he was addressing a rally and suggesting that the Strait of Hormuz should effectively become YS territory. Such rhetoric demonstrates how quickly a military crisis can move from strategic calculation towards dangerous escalation. Iran and Oman, however, have been working around the question of maritime security and the safe passage of commercial traffic through Hormuz. A possible arrangement could involve tolls or transit arrangements on the northern side of the passage, while the Iranian side would facilitate the movement of container and commercial vessels. Meanwhile, around 20 per cent of Saudi Arabia and GCC-linked energy exports also depend on routes connected to the wider region, including the Bab el-Mandeb, where the Houthis remain a major security factor. If America widens the war instead of securing these maritime routes, it could ultimately damage its own strategic and economic interests. Why is the Strait of Hormuz so important to the USA? The deeper issue is not simply oil. It is the architecture of the petrodollar system. Since the 1970s, particularly following the US-Saudi economic and strategic arrangements, the dollar has remained deeply embedded in international energy trade. As global energy commerce expands, demand for dollar-denominated transactions reinforces the international position of the US currency.
That gives Hormuz an importance far beyond geography. If regional states increasingly move towards settling energy transactions in local currencies or alternative financial mechanisms, the dollar could face additional pressure. The USA already carries enormous public debt, while its economy remains heavily dependent on consumption and financial confidence. A major disruption to the dollar-based energy trade would therefore create consequences extending from currency markets to global investment and US borrowing costs. Why does J.D. Vance appear to be talking sense? Vice President J.D. Vance appears to approach the crisis differently from Trump’s more reactive rhetoric. He seems more conscious of the limits of military power and the possibility that continued escalation could produce strategic losses rather than victories. If Washington’s objective is ultimately to protect Israel while preventing a wider regional war, the first requirement is to protect US interests themselves. This is where Pakistan could potentially become relevant. Islamabad has historically maintained channels with multiple sides of the Middle Eastern equation and could offer itself as a mediator. A negotiated settlement involving maritime security, regional guarantees and economic incentives could potentially provide
The real question is no longer who controls Hormuz. It is who can keep it open without turning the entire Gulf into the next battlefield
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Washington with a more lucrative outcome than an open-ended military confrontation. How could a Mecca agreement be welcomed by America? The USA maintains a vast global military footprint, but military power requires enormous financial resources. Washington may increasingly recognise that regional states must eventually assume greater responsibility for their own security. A regional security framework centred on the Muslim world could therefore complement, rather than necessarily contradict, US interests. In the absence of a large-scale US military presence, Pakistan could potentially emerge as an anchor of such a framework. It could develop into a parallel regional architecture to the Abraham Accords, but with a broader security dimension. Israel, too, would have to recognise that long-term security cannot depend exclusively on military superiority. A guaranteed maritime passage and a regional security mechanism could offer a possible pathway forward while reducing the risk of another destructive confrontation with Iran. Can Israel, India and the UAE form a counter-bloc? Such a counter-bloc would face serious limitations. The UAE has its own economic and security interests and has maintained channels with Iran. India, meanwhile, has limited room to assume a direct regional security role without risking its economic relationships across the Gulf. The Middle East is therefore moving towards a complicated strategic equation in which military alliances alone may no longer be sufficient. The Strait of Hormuz has become more than an oil route: it is a test of whether Washington can still impose order through force or whether the region is entering an era where regional states themselves will define the rules of security. The real question is no longer who controls Hormuz. It is who can keep it open without turning the entire Gulf into the next battlefield.
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The writer is a legal researcher on law, public policy, and politics, with a focus on governance, institutional reform, and accountability.
Editor’s mail
The writer is a freelance columnist
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is treated as weakness, compromise as betrayal and political disagreement as a question of personal loyalty. In such an environment, everyone becomes a reformer of Pakistan but not a reformer of themselves. This may be the most difficult aspect of national reform: it requires patience. It does not always produce dramatic headlines. Institutional reform rarely arrives with a slogan. Educational improvement takes years. Administrative reform requires persistence. Economic stability demands consistency. Building trust between citizen and state is slower still. We prefer announcements to implementation because announcements provide immediate satisfaction while implementation demands discipline. Pakistan has repeatedly demonstrated its ability to respond to emergencies. What it has struggled to demonstrate is the equally important ability to prevent them. We wait until the economy is under pressure before discussing structural reform. We wait until cities flood before discussing urban planning. We wait until institutions weaken before discussing institutional reform. We wait until young people leave the country before asking why they no longer see sufficient opportunity at home. The national conversation therefore becomes a permanent conversation about rescue. But countries cannot be permanently rescued. They must eventually be governed, reformed and strengthened. The question, then, is not whether Pakistan can be fixed. It can. The question is whether we are prepared to abandon the habits that make fixing it necessary again and again. That requires a different kind of politics, one that values institutions over personalities, continuity over improvisation and policy over slogans. It requires citizens who understand that democracy is not simply the right to choose rulers but also the discipline to respect rules. It requires businesses willing to see taxation as part of citizenship rather than merely a cost. It requires professionals willing to defend principles even when those principles become inconvenient. Most of all, it requires honesty. Not the rhetorical honesty with which we accuse others, but the more difficult honesty with which we examine ourselves. Pakistan does not need another generation convinced that salvation lies in finding the perfect leader, the perfect institution or the perfect political formula. No country is repaired by one person. Perhaps the first step towards fixing Pakistan is to abandon the comforting belief that Pakistan is always somebody else’s responsibility. The country is not something separate from our daily lives. It is reflected in our institutions, our choices, our compromises, our conduct and our expectations. Everyone wants to fix Pakistan. The real test begins when we ask ourselves a more uncomfortable question: what are we willing to fix in ourselves?
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Send your letters to: Letters to Editor, Pakistan Today, 4-Shaarey Fatima Jinnah, Lahore, Pakistan. E-mail: letters@pakistantoday.com.pk Letters should be addressed to Pakistan Today exclusively
Green deficit
OUR immediate environment in the city of Kamalia echoes the sad reminiscences of verdant areas. This condition is much more than a visual deficiency; it also becomes an ever-important health and social exclusion issue that primarily affects women and their children. The absence of adequate green patches deprives community of outdoor activities. Buy vitamins and supplements A park is a priceless place for physical exercise. It is ideal for walking, jogging and many other activities for keeping one fit and healthy while avoiding chronic diseases. it also provides engagement, relaxation and mental clarity. Our government must step in and prioritise green spaces by redeveloping vacant or underutilised lots into open public parks. The city government can offer the land and core infrastructure, while the people can share through volunteer planting initiatives, community cleanups and upkeep work. Kamalia deserves more than what it has now. If only we worked together, especially our women and children, to reclaim parks for healthier, happier and more active living. ASWAD KHAN KAMALIA, PUNJAB
Game revival
IN many Pakistani cities, young people spend their evenings with little to do other than scroll on their phones or wander the streets. This lack of healthy engagement not only wastes their energy but can also push them towards unproductive or risky activities. One simple, community-driven solution could make a huge difference — reviving night cricket. In the past, night cricket tournaments brought neighbourhoods together. They offered a safe space for youth to play, compete and bond. They also reduced idle street gatherings that sometimes led to disputes or petty crimes. With proper lighting, basic security and local sponsorships, night cricket can once again become a positive outlet for our young generation. Cities like Karachi, Lahore and Rawalpindi have many empty grounds that could be transformed into lively, family-friendly night cricket spots. Even small-scale matches in parks can create a sense of unity and healthy competition. Local authorities, sports boards and community groups should work together to make this happen. Sports have the power to unite, inspire and protect our communities. Let’s bring back night cricket — not just as a game, but as an investment in safer, happier and healthier cities. JUNAID MALIK SUKKUR
Billing scam
THERE is something deeply broken in the way we are being treated as electricity consumers. We’re not just being overcharged but also being dismissed, ignored and manipulated. The recent publications by the Auditor General of Pakistan exposes how agricultural tube-wells were overbilled by Rs148 billion — yes, billion — with no proper justification. Similar things are happening to ordinary households like mine. What’s the point of regulations if no one is forced to follow them?. My electricity bill never matches my consumption. There’s no breakdown. No data. And when I try to raise a complaint, I’m met with sheer silence. How is it fair that DISCOs can charge people at their own will, without any oversight? If the audit system itself couldn’t get proper records from these companies, then how can an ordinary citizen expect justice? The government has not issued any public response, and the ministries’ response is just a blame game. We are not cattle to be herded and looted. We are citizens. We have rights. And we are tired of being robbed in broad daylight with no one to protect us. How long will this go on? When will someone finally listen? SAIMA AHMED LAHORE
Web: www.pakistantoday.com.pk
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Email: editorial@pakistantoday.com.pk
COMMENT 05
We should learn from history
Saturday, 29 August, 2026
Balochistan is no Bangldesh
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dr MuhAMMAd AkrAM ZAheer
VERY cycle of violence in Balochistan revives an old and uncomfortable question in Pakistan’s political discourse: could the province become another East Pakistan? The comparison has gained renewed attention following the sharp escalation in militant attacks during the past two years. Coordinated assaults on security installations, expanding insurgent activity, and the persistence of political discontent have encouraged many observers to revisit the lessons of 1971. While the comparison is understandable, it is also incomplete. History seldom repeats itself in identical form. Yet it often offers warnings that states ignore at their own peril. The insurgency in Balochistan is not a recent development. It has accompanied Pakistan’s political journey almost since independence. From the first rebellion in 1948 to successive waves of unrest, the province has remained trapped in a cycle of confrontation between the state and sections of Baloch nationalist groups. The latest resurgence, however, appears more organised, technologically adept, and geographically dispersed than many earlier phases. Militant organisations have demonstrated an ability to strike military convoys, infrastructure projects, and even strategic coastal areas, presenting fresh challenges to Pakistan’s internal security. It is this deteriorating security environment that has prompted renewed references to East Pakistan. At first glance, the similarities appear striking. In both cases, many citizens believed that their province contributed significantly to the national economy while receiving comparatively little in return. Before 1971, East Pakistan generated most of Pakistan’s export earnings through jute, yet many Bengalis argued that development spending and political power remained concentrated in West Pakistan. In Balochistan, similar arguments revolve around natural gas, mineral wealth, Gwadar Port, and the strategic projects associated with the ChinaPakistan Economic Corridor (CPEC). Despite possessing enormous natural resources, Balochistan continues to record poor indicators in education, healthcare, employment, and infrastructure. Such disparities have strengthened the perception that resource extraction has not translated into proportional local development. Whether every
element of this perception is statistically accurate is open to debate, but perceptions themselves often shape political realities. Throughout history, feelings of exclusion have proved just as influential as measurable economic indicators. Identity politics has further deepened these grievances. East Pakistan’s language movement became the defining symbol of Bengali political consciousness after the refusal to grant Bengali equal national status alongside Urdu. In Balochistan, the issues differ in form but not entirely in substance. Questions surrounding cultural recognition, provincial autonomy, missing persons, political representation, and the space available for nationalist politics continue to dominate public debate. Over decades, distrust has accumulated, making compromise increasingly difficult. Security has consequently become the principal instrument of state policy. Pakistan’s armed forces have undertaken repeated counter-insurgency campaigns aimed at dismantling militant organisations and restoring order. Many attacks have been successfully prevented, while numerous militant commanders have been eliminated. Yet military success has not translated into lasting political stability. Insurgencies rarely disappear through force alone when underlying political disputes remain unresolved. This lesson has emerged repeatedly across different regions of the world. It is here that memories of 1971 naturally arise. Pakistan’s tragic experience in East Pakistan demonstrated that military operations, when detached from meaningful political engagement, may suppress violence temporarily without resolving the grievances that sustain it. That historical lesson deserves careful reflection not because Balochistan is destined to follow the same path, but because unresolved political conflicts tend to grow more complex over time. However, the similarities
Balochistan’s future will not be determined solely by insurgent violence or security operations. It will be shaped by whether Pakistan succeeds in narrowing the distance between the federation and its largest province—politically, economically, and psychologically. The country possesses the opportunity to prevent history from becoming a recurring warning.
Big Tech faces big resistance
‘The last time we’ve seen the public this angry about an industry was during the financial crisis’
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Apple and Google have both been forced to loosen their grip on app-store payments and distribution after years of litigation. TikTok agreed just last week to pay $400 million to settle federal allegations that it violated children’s privacy laws.
AXIOS
MAdison Mills
ETA’S landmark social media settlement marks the latest milestone in a decade-long unwinding of Big Tech’s once-unfettered freedom to operate.
WHY IT MATTERS: The AI industry is watching closely. Its historic expansion, already fraught with job risks and public anxiety, depends on building thousands of power-hungry data centers in communities where opposition is rising fast. State of play: “The last time we’ve seen the public this angry about an industry was during the financial crisis,” Nidhi Hegde, executive director of the American Economic Liberties Project, told Axios. Meta’s $17 billion settlement requires sweeping changes to how teens can use Instagram and Facebook, including daily time limits and restrictions on certain beauty filters. The social media company is now calling on its competitors, YouTube and TikTok, to adopt similar protections — arguing there won’t be “meaningful progress” on teen safety without them.
BETWEEN THE LINES: The pressure extends well beyond Meta, as public frustration with the tech industry increasingly produces court orders, cash penalties and constraints on how companies operate. Amazon agreed last year to pay $2.5 billion to settle a Federal Trade Commission consumerprotection case over Prime subscriptions.
should not obscure the profound differences between the two cases. The most decisive distinction lies in demography. Before Bangladesh’s independence, Bengalis constituted the majority of Pakistan’s population. The Awami League secured an undisputed electoral mandate in the 1970 general elections, giving Sheikh Mujibur Rahman constitutional legitimacy to form the federal government. The subsequent refusal to transfer power transformed a political dispute into a national catastrophe. No comparable circumstance exists in contemporary Pakistan. Balochistan occupies almost half of the country’s landmass but accounts for only a small proportion of its population. Its political influence within the federation cannot be translated into an electoral majority capable of reshaping national politics through parliamentary means. Consequently, the constitutional dynamics that precipitated the crisis of 1971 simply do not exist today. Geography also tells a different story. East Pakistan was physically separated from West Pakistan by more than a thousand miles of Indian territory, making military reinforcement extraordinarily difficult once war began. Balochistan, by contrast, remains fully connected to Pakistan’s transportation and communication network. Highways, railways, and military logistics provide Islamabad with strategic access that was impossible in 1971. External conditions are equally different. Bangladesh’s emergence as an independent state cannot be understood without acknowledging India’s decisive military intervention. New Delhi provided extensive military, diplomatic, and logistical support to the Mukti Bahini before entering the conflict directly in December 1971. That intervention fundamentally altered the balance of power. Today’s international environment offers no comparable scenario. Although Pakistan frequently accuses hostile external actors of supporting separatist violence, no neighbouring state has openly committed military forces or provided internationally acknowledged support on the scale witnessed during
THREAT LEVEL: AI may be especially exposed because its growth depends on something the social media boom didn’t: a massive physical buildout in communities that can fight back. Opposition to new data centers has jumped sharply: 61% of Americans now oppose one being built in their area, up 12 percentage points in just four months, according to an Annenberg Public Policy Center survey. At least 75 data center projects worth roughly $130 billion were blocked or delayed in the first three months of this year amid local opposition, according to Data Center Watch. Up to half of proposed U.S. data centers could face delays or cancellations as the political backlash grows, investment firm Kimmeridge Energy Management told Bloomberg.
THE INTRIGUE: Major Wall Street banks are beginning to flag data center resistance as a financial risk, with delays threatening the enormous compute buildout AI companies are counting on.
REALITY CHECK: Big Tech still has enormous financial and political muscle. Meta’s settlement is a fraction of the staggering penalties once contemplated, with early estimates suggesting the company could face more than $1 trillion in exposure. And despite the backlash, more than 1,500 data centers are already under construction in the U.S. — roughly half the number currently operating.
THE BOTTOM LINE: “Meta’s settlement is a warning for the AI industry,” Common Sense Media CEO James P. Steyer tells Axios. Big Tech remains immensely powerful, but its era of operational immunity is ending.
the Bangladesh Liberation War. At the same time, China’s substantial investments in Gwadar and CPEC create powerful incentives for regional stability rather than fragmentation. Beijing’s strategic interests rest on a secure and economically integrated Balochistan. International politics itself has also changed dramatically. The Cold War environment, which shaped global alignments during 1971, has disappeared. Contemporary international diplomacy places considerably greater emphasis on territorial integrity and state sovereignty. Secessionist movements now face far higher diplomatic barriers to achieving international recognition than they did during the era of decolonisation. Another major distinction concerns political organisation. Bangladesh’s independence movement possessed an elected political leadership, administrative structures, international diplomatic outreach, and broad popular mobilisation under a unified command. The Baloch insurgency, despite its persistence, remains divided among multiple organisations with differing strategies and objectives. Fragmentation has limited its political coherence and prevented the emergence of a unified alternative governing authority. These differences make one conclusion unavoidable: Balochistan is not another East Pakistan, and predictions of an inevitable repetition of 1971 oversimplify Pakistan’s contemporary realities. Yet rejecting the analogy should not become an excuse for complacency. A province need not secede to become a long-term strategic liability. Persistent insurgency can gradually weaken economic confidence, discourage foreign investment, delay infrastructure projects, and impose heavy financial and human costs on the state. CPEC, Gwadar Port, and the development of Pakistan’s western regions all depend upon durable security combined with local political confidence. Neither objective can be achieved in isolation. This requires moving beyond a policy framework dominated exclusively by security considerations. Effective governance in con-
flict-affected regions demands credible political dialogue, accountable provincial institutions, transparent resource-sharing mechanisms, and visible improvements in public services. Development projects cannot succeed if local communities perceive themselves merely as spectators rather than beneficiaries. Equally important is rebuilding trust between the federation and the province. Trust cannot be restored through announcements alone. It grows through consistent implementation of constitutional commitments, meaningful participation in decision-making, fair economic opportunities, and confidence that grievances will receive institutional rather than coercive responses. Pakistan’s federal structure already provides mechanisms for greater provincial participation. The challenge lies less in constitutional design than in political execution. Genuine implementation of existing commitments may achieve far more than the repeated introduction of ambitious packages that fail to reach the communities they are intended to serve. The lesson of 1971 is therefore neither prophecy nor prediction. It is a reminder that national cohesion ultimately rests upon political legitimacy as much as military capability. States remain strongest when citizens believe they possess an equal stake in their collective future. Balochistan’s future will not be determined solely by insurgent violence or security operations. It will be shaped by whether Pakistan succeeds in narrowing the distance between the federation and its largest province—politically, economically, and psychologically. The country possesses the opportunity to prevent history from becoming a recurring warning. Whether that opportunity is seized will influence not only the future of Balochistan but also the long-term stability of the Pakistani federation itself.
The writer is Assistant Professor Pakistan Studies, Imperial College of Business Studies, Lahore, and can be reached at muhammad.akram@imperial.edu.pk
Real significance of Makkah defense pact with Turkiye and Pakistan
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While the Kingdom has maintained a strategic relationship with the US, both historically and in contemporary times, it has also developed multifaceted strategic partnerships with China, Russia, the EU, and most countries worldwide, except the Zionist entity
THE ARAB NEWS
Prince Turki Al-FAisAl
HE signing of the Makkah Joint Defense Agreement by Saudi Arabia, Turkiye, and Pakistan has attracted considerable international attention and generated divergent views regarding its significance and strategic implications for the allied states. Numerous commentators have cast doubt on the agreement’s utility or the feasibility of its implementation, portraying the agreement as though it were specifically designed to counter the ambitions and strategic plans of certain states — and therefore ought to be undermined before it can become fully effective. Others have attempted to characterize it as sectarian in nature. Such interpretations overlook a fundamental point: the agreement is defensive in purpose and character. Its value as a collective security arrangement should not reasonably be called into question except by those who harbor hostile intentions toward these non-sectarian states or who may contemplate targeting them in the future. The formation of alliances to address immediate security and military threats, as well as foreseeable future threats, is a legitimate right of states under international law and a well-established practice throughout the history of international diplomacy. Such alliances are forged among responsible states that share a common strategic assessment of the nature and scope of threats to their national security and stability, as well as to the security and stability of their broader geostrategic environment. The states allied under the Makkah Agreement share this assessment in light of the wars engulfing the region, the anticipated strategic vacuum these conflicts are likely to leave in their wake, the resulting imbalance of power and the erosion of the regional order that has prevailed over recent decades. That order has historically been supported by international protection of a region whose security and stability are essential globally and strategically — not only because of its geoeconomic and geofinancial significance, but also because of its central location and enduring historical and political importance. The three states are of considerable geostrategic importance, and their respective capabilities are complementary in ways that could contribute to restoring the regional strategic balance and filling any strategic vacuum resulting from the conflicts in the region. Through their alliance, the three countries have the potential to emerge as a major strategic actor capable of confronting threats directed against them or the wider region. Moreover,
the alliance could potentially expand to include other states that share the same strategic objectives. Some interpretations, which fail to fully appreciate the agreement’s strategic dimensions, have viewed the Kingdom’s importance and role in this alliance as being linked to its financial capacity and its efforts to ensure its own security, and as being confined to these important aspects. However, the Kingdom’s geostrategic importance is no less significant than that of the other parties to the alliance, if it does not surpass them. Some have argued that the Kingdom has consistently sought a reliable partner to underpin its stability and safeguard its security, portraying this pursuit as unique to Saudi Arabia. In reality, however, all states seek the same thing for the same purpose. Nevertheless, the Kingdom’s location on the international geopolitical map has made it a magnet for states seeking to secure its support and endorsement. Saudi Arabia’s geostrategic importance derives from a combination of factors: its strategic location, central religious significance, vast oil resources, financial strength, the moderation and pragmatism of its policies, diplomatic role, extensive international relationships and military capabilities. Through this strategic location, Saudi Arabia exerts significant influence over global energy markets, maritime security, the balance of power in the Arabian Gulf and the broader Middle East, and relations among the major powers. The closure of the Strait of Hormuz further highlighted the strategic importance of the Kingdom’s position on the Red Sea, as well as the readiness of its ports and supporting infrastructure to provide alternative routes for energy supplies, and a key logistics hub for global supply and distribution chains. Oil remains one of the Kingdom’s most important strategic assets: Saudi Arabia possesses one of the world’s largest proven oil reserves and has consistently ranked among the leading producers and exporters within OPEC. The Kingdom also maintains substantial spare production capacity, enabling it to increase or reduce output more rapidly than many other major producers. This capacity provides Riyadh with exceptional leverage over global oil supply and prices. Saudi production decisions can have far-reaching implications for inflation, transport costs, government revenues, and economic growth across both developed and developing countries. Accordingly, Saudi Arabia is not merely an oil exporter, but a key participant in the management of the global energy market. Today, the Kingdom is building part of its geopolitical significance on its success, through Vision 2030, in transforming its oil-based wealth into sustained economic, technological, and institutional influence, while expanding into other important economic sectors such as investment, tourism, entertainment, logistics, manufacturing, mining, renewable and nuclear
energy, and defense production. If strategic location and oil resources are key determinants of geostrategic and geopolitical importance, the Kingdom’s religious standing is no less significant. Saudi Arabia is home to the Qibla — the direction Muslims face in prayer, toward the Holy Kaaba in Makkah — of the Muslim world and Islam’s two holiest cities, toward which millions of Muslims are drawn each year to perform Hajj and Umrah, and to visit the holy sites. This unique religious significance confers upon the Kingdom a degree of international standing that no other state possesses. The responsibility for organizing, administering, and safeguarding these holy sites — both an honor for the Kingdom and a duty it bears — has enabled Saudi Arabia to develop extensive and deeply rooted relations with governments, Muslim communities and Islamic organizations across Africa, Asia, Europe and the Americas. The Kingdom’s religious standing further enables it to serve as an influential voice in the Islamic world, underpinned by its position as a leading Arab power, a central actor in the Muslim world, a major energy producer, a strong economy, and an active member of international and regional organizations, including the G20, which brings together the world’s major economies. Few countries possess such an interconnected combination of sources of influence, standing and strategic relevance across all levels. While the Kingdom has maintained a strategic relationship with the US, both historically and in contemporary times, it has also developed multifaceted strategic partnerships with China, Russia, the EU, and most countries worldwide, except the Zionist entity. These relationships are founded on shared interests and mutual benefits, and are intended to advance the Kingdom’s security, stability and broader strategic space. The Kingdom conducts its international relations and diplomacy prudently, grounded in trust and credibility. It works to resolve conflicts and wars in the region. It employs its diplomatic influence to advance Palestinian rights and help bring the crisis-ridden region out of protracted conflicts. This approach has established Saudi Arabia as an important strategic actor in an unsettled international system that is increasingly moving toward multipolarity. Regardless of the Kingdom’s strategic importance, it moves confidently toward the future and harnesses the sources of its importance to build its own strength. Alliances are merely an added value in achieving its security and stability, and ensuring the success of its ambitious plans in a secure and stable region. Prince Turki Al-Faisal is the former directorgeneral of Saudi Arabia’s intelligence agency and a former ambassador. He is also the founder and trustee of the King Faisal Foundation and chairman of the King Faisal Center for Research and Islamic Studies.
06 news US TReASURy ADDS IRAN-LINkeD INDIvIDUAL, HoNG koNG-BASeD ComPANy To SANCTIoNS LIST
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WASHINGTON AGENCIES
HE US Treasury Department announced on Friday that it added an Iran-linked individual and a Hong Kong-based company to its sanctions list, as Washington steps up pressure on Tehran and entities accused of helping it evade sanctions. Reza Mohammad Taeedi, a Dubaibased Iranian national and the general manager of the Dubai branch of Iran’s Bank Melli, was added to the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals (SDN) List. Taeedi is subject to secondary sanctions and was designated under counterterrorism and Iran-related authorities. The department also designated Kameng Trading Limited, a Hong Kongbased company established in July 2024, under an Iran-related executive order. The moves came alongside US action targeting Banque Misr’s operations in the United Arab Emirates over alleged support for Iranian shadow-banking networks. “Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime,” Treasury Secretary Scott Bessent said in a statement to The Finan-
cial Times. “We also warned that Iran’s enablers cannot continue to enjoy access to the US dollar and the global financial system. Banque Misr UAE decided to find out the hard way and, today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime.” The Treasury said its measures form part of broader efforts to disrupt Iran’s shadow-banking network and restrict access to foreign currencies and the global financial system. Trump suffering from ‘hallucinations, delusions’ over US territory claim on Hormuz: Iran's Gharibabadi Iranian Deputy Foreign Minister Gharibabadi responded to a post by US President Donald Trump calling the Strait of Hormuz a US territory, implying that Trump is suffering from "hallucinations" and “delusions”. "Schizophrenia is a complex and acute psychotic disorder that manifests with disturbances in thinking and a distorted perception of reality. Its most common symptoms are also hallucinations and delusions. Psychologists recommend that such patients should be under 24hour supervision and receive treatment,” he said on X. Gharibabadi's X post comes in response to a Truth Social post Trump
made earlier on Friday, where he posted an image of US territories around the world which included an image of the Strait of Hormuz. Dialogue 'only viable way out' of US-Iran conflict, China says amid sanctions threats China on Friday reiterated that dialogue and diplomatic negotiations “are the only viable way out" of tensions between Washington and Tehran amid new US economic sanctions against Iran. On Iran, "dialogue and negotiations are the only viable way out," Foreign Ministry spokesperson Lin Jian told reporters in Beijing. "China opposes illegal, unilateral sanctions (and) our position is consistent and clear," he stressed. Lin’s remarks followed comments by US President Donald Trump, who hinted at sanctioning Chinese banks over their ties with Iran. When asked in the Oval Office on Thursday whether Washington plans to sanction Chinese banks tied to Iran, Trump suggested that measures remain possible, replying: "Who said I'm not?... You don't know if I'm doing it. Well, I don't have to announce everything, do I?" The White House Press Secretary Karoline Leavitt confirmed that direct negotiations with Tehran remain stalled,
stating that Washington is ramping up economic pressure under its "Operation Economic Outcast" initiative while Trump continues to keep "all options on the table." IRAN PRESSES OTHER COUNTRIES TO REFRAIN FROM IMPLEMENTING US SANCTIONS Iran’s Foreign Ministry said all countries were obliged to refrain from implementing US sanctions against Tehran, adding that participation in them amounted to complicity in imposing one state’s unlawful will on independent states. In a statement published on its X account on Friday, the ministry described new US economic measures as illegal and reprehensible "state terrorism" and a crime against humanity, saying they put the health and livelihoods of millions of civilians at serious risk. It called on the international community to uphold the rule of law and said Tehran would use all its capabilities to defend itself against what it called a combined US-Israeli military and economic assault. Earlier, Iranian Foreign Minister Abbas Araghchi said that "putting diplomacy back on track isn't impossible" and depended on the United States' understanding that "pressure doesn't work."
Mohsin naqvi for transforming Islamabad into an encroachment Free, beautiful and model Capital of world ISLAMABAD
STAFF REPORT
Under the dynamic and result oriented leadership of Syed Mohsin Raza Naqvi, Federal Minister for Interior, Islamabad is witnessing an unprecedented, high intensity across the board actions by adopting Zero Tolerance Policy against illegal encroachments aimed at reclaiming state lands, properties of worth billions rupees, restoring urban order, and transforming the federal capital into a clean, green, sustainable, secure, environment and tourist friendly model Capital city. The momentum and consistency of these coordinated efforts of CDA under the leadership of Sohail Ashraf Chairman CDA and Dr. Anum Fatima, Deputy DG Enforcement and CEO, MCI have led to commend the leadership with the phrase: “Well Done Mohsin Naqvi”, acknowledging a good governance style focused on action rather than rhetoric. WHOLE OF GOVERNMENT APPROACH: UNIFIED INSTITUTIONAL ACTION The anti encroachment drive of CDA/MCI is being implemented through a coordinated, multi-agency framework involving Capital Development Authority (CDA) under the operational oversight and supervision of Sohail Ashraf, Chairman CDA/Chief Commissioner Is-
lamabad and supervision of Dr. Anum Fatima CEO, Metropolitan Corporation Islamabad (MCI), along with dedicated field enforcement teams of CDA. This integrated enforcement model ensures planning, execution, and monitoring occur simultaneously minimizing delays and maximizing impact. ‘ZERO TOLERANCE POLICY: ACROSS THE BOARD ENFORCEMENT A defining feature of the campaign under strict “Zero Tolerance” policy has been adopted against encroachments in Islamabad to have actions without any discrimination against Unauthorized commercial extensions, Illegal kiosks and roadside stalls, Encroachments on green belts and Lands, footpaths, Commercial misuse of residential properties, Informal settlements on state lands and properties in urban and rural areas of Islamabad. This impartial and across the board enforcement policy has strengthened public confidence and reinforced the principle that state land is a collective national asset. Targeted Operations Across Islamabad through Coordinated operations have been carried out in multiple high impact zones including Saidpur Village: Removal of illegal structures and commercial encroachments helped restore the area’s cultural and environmental
value. Noorpur Shahan: Clearance of unauthorized constructions improved accessibility and public space usage. Islamabad Expressway: Large scale removal of roadside encroachments reduced congestion and enhanced road safety. Tarnol: Recovery of valuable state lands from illegal occupation, including informal settlements and commisuse. Additionally, mercial enforcement actions have extended to markets, residential sectors, service roads, and green belts, ensuring citywide impact rather than isolated interventions. Tangible Results: Land Recovery of thousands Kanals of land of worth Rupees in Billions. Urban Improvement is One of the most significant achievements of this campaign is the recovery of thousands of kanals of state lands, proper-
ties and commercial assets worth billions of rupees. These recoveries: Protect public property from illegal occupation enabling planned urban development acted as a deterrent against future encroachments, visible improvements include: clear footpaths and pedestrian spaces, restored parks and green belts, improved traffic flow and reduced bottlenecks, enhanced environmental conditions Islamabad is increasingly regaining its identity as a well planned, eco friendly capital city. ‘PUBLIC RESPONSE AND GOVERNANCE IMPACT’ The anti-encroachment drive has received broad public support, particularly due to: Transparency in operations, Consistency in enforcement, Lack of selective action, Visible, immediate improvements. Citizens and all stakeholders view these efforts as a turning point in urban and rural governance, where rules are being implemented effectively rather than remaining symbolic. EFFORTS TOWARD A MODEL CAPITAL OF THE WORLD The ongoing across the board actions against illegal encroachments in Islamabad by CDA, DMA and MCI have demonstrated visionary and dynamic leadership of Mohsin Naqvi which is reshaping Islamabad as a model capital of the Word.
China, Poland pledge deeper trade and investment ties, seek balanced bilateral commerce BEIJING STAFF CORRESPONDENT
China and Poland have agreed to further deepen bilateral trade and investment cooperation, with both sides expressing interest in expanding collaboration across emerging industries, logistics and transport. The agreement was reached at the 20th meeting of the China-Poland Joint Commission on Economic Cooperation held in Beijing, according to China’s Ministry of Commerce (MOFCOM). China’s Vice Minister of Commerce and Deputy China International Trade Representative Ling Ji and Poland’s
Undersecretary of State at the Ministry of Economic Development and Technology Michal Baranowski co-chaired the meeting. Ling noted that this year marks the 10th anniversary of the establishment of the China-Poland comprehensive strategic partnership. He said bilateral trade had continued to expand in recent years, while two-way investment had steadily advanced and the potential for greater connectivity had been further unlocked. China was willing to increase imports from Poland and promote more balanced growth in bilateral trade, Ling said. He also called for stronger supplyand industrial-chain cooperation in areas
including new energy, intelligent manufacturing, logistics and warehousing. Ling expressed hope that Poland would provide a fair, just and non-discriminatory business environment for Chinese companies operating in the country. He also said China was ready to work with the European Union to properly address differences through dialogue and consultation and promote the sound and stable development of China-EU economic and trade relations. Baranowski said Poland attached great importance to strengthening economic and trade relations with China and also hoped to achieve more balanced bi-
Xi chairs CPC leadership meeting to oversee rescue efforts after Xizang mudslide BEIJING
AGENCIES
Chinese President Xi Jinping on Friday chaired a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee to deliberate on rescue and relief efforts following a devastating mudslide in Gyirong County in southwest China’s Xizang Autonomous Region. Xi, who is also general secretary of the CPC Central Committee and chairman of the Central Military Commission, and other Party leaders observed a moment of silence for the victims at the start of the meeting. The disaster struck the Gyirong border port on Wednesday. The meeting said emergency rescue operations were being conducted swiftly, orderly and in a well-coordinated manner under the strong leadership of the CPC Central Committee. Comprehensive measures were also being taken to resettle affected residents and manage the aftermath of the disaster. It noted that the mudslide occurred in a severely cold plateau region characterised by steep valleys, rapidly changing weather, surrounding glaciers and glacial lakes, as well as the risk of further geological hazards, creating major challenges for rescue operations. The meeting directed all relevant authorities and departments to take resolute and effec-
tive measures to strengthen rescue efforts. It called for scientifically formulated search-andrescue plans and urged authorities to make every possible effort to locate and rescue all missing Chinese and foreign nationals. The meeting also announced that China would provide emergency assistance to the disaster-hit area in neighbouring Nepal and conduct international rescue cooperation as part of its response to the disaster. Meanwhile, the first group of six rescuers from the Xizang fire and rescue corps and 15 rescuers and one search dog from the Sichuan fire and rescue corps arrived at the national border gate area within the jurisdiction of Gyirong Port in Xigaze, Southwest China's Xizang Region at around 4:30 pm on Friday, becoming the first professional res-
lateral trade. According to MOFCOM, Poland is willing to expand trade and investment cooperation with China in areas including agricultural processing, power batteries and offshore wind energy. The Polish official also called for stronger cooperation on China-Europe freight trains and maritime transport to further enhance bilateral economic and trade ties. The meeting underscored the two countries’ shared interest in expanding commercial cooperation while seeking greater balance in bilateral trade and improving connectivity between China, Poland and the wider European market.
cue teams to reach the core area of the mudslide disaster, according to Xinhua News Agency. According to a video released by CCTV News, a rescuer was heard shouting, "Is anyone there?" while searching for people who may have been trapped. On Wednesday, a devastating mudslide triggered by a high-altitude glacial collapse in Nepal hit the Gyirong Port in Xizang region. As of 3 pm on Friday, the disaster had left five people dead and 558 others missing. 499 people affected by the disaster relocated and 555 stranded tourists transferred to safety as of Friday morning.
saturday, 29 August 2026 | LAHORe
CORPORATE CORNER
PC Hospitality Invests in Leadership Growth at Two-Day Leadership Convention LAHORE
STAFF REPORT
PC Hospitality brought together its senior leadership from across the Group for a two-day Leadership Convention at Pearl-Continental Lahore, reinforcing the company’s commitment to investing in the development, coaching and continued growth of its leaders.Held under the theme “Strengthening Business & Brand Leadership,” the convention gathered General Managers and Corporate Heads for an immersive programme focused on building stronger leadership capabilities, enhancing business performance and preparing the organization for the evolving future of hospitality.The two-day executive summit focused on empowering PC Hospitality’s leaders to drive high-performance cultures, strategic innovation, and operational mastery across the portfolio. Through immersive leadership dialogues and collaborative exchanges, participants explored forward-looking strategies in digital transformation, evolving consumer dynamics, and market positioning, equipping leadership teams to champion institutional standards and lead their properties into the next era of hospitality excellence.More than a leadership gathering, the convention reflected PC Hospitality’s belief that sustained business growth begins with investing in people.“As our business evolves, the capabilities of our leaders must evolve with it. We are committed to creating opportunities for our leadership teams to learn, exchange ideas, challenge conventional thinking and continuously strengthen their skills,” said the CEO of PC Hospitality.
Al Baraka Group’s Net Income Rises to $204m in First Half of 2026, with Total Assets Growing to $33b ISLAMABAD
STAFF REPORT
Al Baraka Group B.S.C. (C) announced its financial results for the second quarter and first half ended 30 June 2026, reaffirming its continued ability to deliver strong and sustainable growth across its financial and operational performance indicators, despite geopolitical and economic challenges and volatility in global markets. The results reflect the resilience of the Group’s business model, underpinned by geographic diversification, strong market presence of its banking units in their local markets, diversified income streams, and enhanced quality of its financing and investment portfolios, enabling the Group to transform challenges into growth opportunities, supported by the outstanding performance of its key banking units, particularly in Türkiye, Jordan, and Algeria. During the second quarter of 2026, the Group recorded notable growth in profitability indicators, with net income attributable to the shareholders of the parent company increasing by 16% to US$61 Million, compared with US$53 Million in the second quarter of 2025.
Chairman Senate addresses inaugural session of 2nd ISC in Phnom Penh ISLAMABAD
STAFF REPORT
Chairman Senate of Pakistan, Syed Yousaf Raza Gilani, addressed the inaugural session of the 2nd Inter-Parliamentary Speakers’ Conference (ISC) in Phnom Penh, in the presence of H.E. Hun Manet, Prime Minister of Cambodia and Samdech Moha Borvor Thipadei Hun Sen, President of the Senate of Cambodia. Welcoming the Cambodian leadership, Chairman Gilani thanked His Majesty the King of Cambodia for his message and expressed appreciation to the Senate and people of Cambodia for hosting the Conference. He lauded the participation of Prime Minister Hun Manet as a strong symbol of Cambodia’s commitment to parliamentary dialogue and cooperation. He also acknowledged the leadership and hospitality of Samdech Hun Sen in bringing parliamentary Speakers together on a common platform Speaking on the theme “Solidarity for Peace and Shared Prosperity – Strengthening International Law and Resolving Conflicts Peacefully”, Chairman Gilani called for greater parliamentary unity and collective action to address global challenges including armed conflicts, terrorism, climate change and economic inequality.
NEWS 07
Saturday, 29 August 2026 | LAHORE
CORPORATE CORNER
NBP’s resilient 1H’26 performance amid volatility: PAT at PKR32.4b KARACHI
STAFF REPORT
The Board of Directors of National Bank of Pakistan “NBP” “the Bank” met on August 27, 2026, to approve the interim condensed financial statements for the half-year ended June 30, 2026. The Bank continued to demonstrate resilient financial performance and disciplined balance sheet management during the first half of 2026, navigating an evolving interest rate environment while maintaining strong liquidity, funding and capital positions.The Bank delivered a resilient performance in the first half of 2026, posting a Profit Before Tax of PKR 67.3 Bn and a Profit After Tax of PKR 32.4 Bn, translating into Earnings Per Share of PKR 15.23 for the half year ended June 30, 2026. Navigating a challenging environment for both the wider economy and the banking sector, NBP demonstrated the strength of its core franchise. Interest income was firmly supported by robust double-digit volumetric growth in investments, which expanded by 15.1%. This momentum was reinforced by a markedly stronger funding mix, with consistent growth in low-cost CASA deposits helping bring the overall cost of funds down considerably that cushioned the impact of tighter asset yields. As a result, the Bank generated gross interest income of PKR 361.7 Bn in 1H'26. Non-mark-up income also advanced, rising 3.8% year-on-year to PKR 27.6 Bn on the back of a strong showing across multiple streams. Foreign exchange income grew impressively to PKR 5.4 Bn from PKR 3.5 Bn, while dividend income surged 30% to PKR 4.1 Bn, underscoring the quality and diversification of the Bank's earnings base.
Wafi Energy Pakistan reports H1 2026 results, continues investing in supply infrastructure and energy security KARACHI
STAFF REPORT
The Board of Directors of Wafi Energy Pakistan Limited (Wafi Energy) today announced the company's financial results for the half year ended June 30, 2026. The company reported a profit after tax of PKR 1,523 million for the half year, compared with PKR 1,260 million in the same period last year. The half-year result includes a loss after tax of PKR 641 million in the second quarter. Through a period of disruption in global energy markets and sustained volatility, the company maintained reliable supply to customers.Wafi Energy continued to expand its network in this period, adding 38 new Shell retail sites, 18 new Shell Select stores, 2 EV Shell Recharge facilities and upgrading eight existing retail sites. The lubricants business grew across its consumer and industrial segments during the period, supported by product launches and sustained investment in customer and mechanic engagement. Together, this extends access to Shell fuels, lubricants and convenience services for customers across the country.Recently, the company inaugurated a new 7.4-million-liter motor gasoline storage tank at its Tarru Jabba terminal in Nowshera, KPK. The facility adds storage capacity and improves the ability to hold and move products closer to demand, supporting supply resilience across the region. With this investment, Wafi Energy also plans to expand its Shell retail network across northern Pakistan.Commenting on the performance, Zubair Shaikh, Chief Executive Officer, said, “This has been a demanding half for the industry, with disruption to global supply routes and continued volatility in costs. Our performance reflects disciplined investment and execution and focus on supply security.
TPT 360 to deliver official broadcast production for DP World Women’s Asia Cup 2026 DUBAI, UAE
STAFF REPORT
TPT 360, a subsidiary of Transgroup FZE UAE, will deliver the official broadcast production for the DP World Women’s Asia Cup 2026, conducted by the Asian Cricket Council. The premier T20I tournament, featuring 15 matches, will be held at the Dubai Cricket Stadium, UAE, from August 28 through the grand finale on September 13, 2026. To capture the energy and intensity of the tournament, the broadcast will feature a comprehensive multi-camera setup, including super slomo and spin vision cameras. The extensive coverage will utilize the latest GV LDX 150 cameras and Zing stumps, alongside the latest GFX specially created for the DP World Women’s Asia Cup 2026. This state-of-the-art setup is designed to ensure that fans watching from home will not miss a single moment of the game, providing clear, high-quality angles throughout every match. “We are incredibly proud to be delivering the official broadcast production for the DP World Women’s Asia Cup 2026,” said Moied Javed - CEO, TPT 360. “Our focus is simply on bringing the excitement of the game directly to viewers. We look forward to providing top-tier coverage that highlights the incredible talent and competitiveness of women’s cricket.” TPT 360 and Transgroup FZE UAE share a strong commitment to broadcast excellence and supporting the continued growth and visibility of women’s cricket. This tournament also builds on their previous work together, having successfully delivered the broadcast of the ACC U19 Women’s Asia Cup in Malaysia in 2024. As the tournament gets underway, TPT 360 remains focused on delivering an outstanding broadcast experience for audiences across the world.
CM MARYAM INVITES HUAWEI INVESTMENT IN NSIT CITY, EXPANDS AI PARTNERSHIP
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PUNJAB TARGETS AI-INTEGRATED, INTERCONNECTED SYSTEM BY 2029, SAYS PUNJAB CM LAHORE
SALEEM JADOON
UNJAB Chief Minister Maryam Nawaz on Friday invited Chinese technology giant Huawei to invest in the Nawaz Sharif IT City and agreed on a major talent-development initiative under which 1,000 young people from Punjab will be trained as Huawei master trainers, while 300 women trainers will receive specialised AI training from the company. The chief minister, accompanied by a delegation, met senior Huawei officials in China and discussed expanding cooperation in artificial intelligence, digital infrastructure and smart public services. The Huawei officials warmly received the chief minister and her delegation. CM Maryam welcomed the company’s collaboration with Punjab and invited Huawei to invest in the Nawaz Sharif IT City. The two sides also reviewed a proposal to establish an Artificial Intelligence Delivery Unit in Punjab and discussed setting up six data centres, including a sovereign data centre, at the Nawaz Sharif IT City. They further agreed to designate a focal
person to improve coordination between Huawei and the government of Pakistan. Cooperation in smart cities, command centres, healthcare, education, agriculture and manufacturing also came under discussion, while the meeting reviewed a roadmap covering AI, cloud technologies, digital infrastructure, talent development and smart public services. CM Maryam said advancing Punjab in the field of AI was a top priority, adding that the province was among the most active regions in Pakistan and South Asia in adopting technology. She said strategic partnerships with
leading global technology companies could help build a digitally empowered, innovative and citizen-focused Punjab. “Talent development and inclusive access to technology are key pillars of Punjab’s strategy,” she said, adding that cloud computing, digital infrastructure and locally developed AI models would be developed in the province. Pakistan world’s fourth-largest country in terms of number of freelancers Special Assistant Ali Dar briefed the meeting on the Punjab AI Office, saying AI was being deployed in healthcare, education, infrastructure and governance
No compromise on axle load regime, heavy fines for violators: Aleem Khan ISLAMABAD
STAFF REPORT
Federal Minister for Communications Abdul Aleem Khan on Friday said there would be no compromise on enforcement of the Axle Load Control Regime (ALCR), announcing heavy fines for vehicles and factories found involved in overloading. Chairing a high-level meeting to review the implementation of the axle load regime, the minister directed the relevant authorities to strengthen monitoring through artificial intelligence (AI), modern cameras and an automated weighstation system. The meeting was attended by Federal Secretary for Communications, Chairman National Highway Authority (NHA), Inspector General Motorway Police, and Director Generals of National Logistics Corporation (NLC) and Frontier Works
Organization (FWO), who provided briefings on relevant matters. During the briefing, it was highlighted that overloading severely damages road infrastructure, with 30,000 axle load violations reported over the past six months. It was also shared that a state-of-theart model weigh station of international standards in Sangjani will be completed soon. Abdul Aleem Khan issued clear directives during the meeting, ordering necessary amendments to the NHA’s legal framework within one week to immediately eliminate legal and operational hurdles regarding the axle load regime. He instructed that transporters be provided clear guidance on vehicle body manufacturing and advised against installing unnecessary heavy decorative accessories that increase overall weight. The minister firmly announced that fines will now be imposed not
Food & Drink makes up 41.9% of all inDrive.Courier orders in Pakistan KARACHI
STAFF REPORT
inDrive, a global mobility and urban services platform, has revealed that almost half of all inDrive.Courier orders in Pakistan are meals or groceries, underscoring the service’s growing role in meeting everyday delivery needs.The finding is based on an internal analysis of inDrive.Courier orders placed across Pakistan between January and June 2026, as part of a wider study covering eight countries. Food & Drink accounted for 41.9% of all classified orders, roughly equal to the combined share of Clothing & Shoes (24%), Medicine & Pharmacy (9%) and Documents & Papers (8.5%), which together made up 41.5%. Pakistan also recorded the highest share of Electronics orders among the markets studied, at 8.4%.“It’s no surprise to see food and drink account for such a large share of Courier orders in Pakistan,” said Awais Saeed, Country Head, inDrive Pakistan. “The fact that people use inDrive for a range of courier deliveries shows the level of trust they place in the app. That’s something we take seriously, and it shapes how we build every feature and service on the platform.”
only on vehicle owners but also on factories identified for overloading trucks. He made it mandatory for 100 percent of freight vehicles to pass through weigh stations and directed the complete automation of the weigh station system. He stated that shifting to an automated system would eliminate long queues and prevent lost time, while also ordering the establishment of weigh stations on GT Roads similar to those on motorways. The Minister emphasized installing modern cameras on motorways and establishing a system to track rule-breaking vehicles immediately using artificial intelligence. Furthermore, the minister instructed the NHA, NLC, and FWO to adopt a joint strategy at Karachi Port and emphasized that planning must account for the needs of the next 20 years rather than just present conditions.
Dandot Cement finalises financing for waste heat recovery plant LAHORE
STAFF REPORT
Dandot Cement Company Limited (PSX: DNCC) has finalised financing for its Waste Heat Recovery (WHR) Plant, advancing the Company's transition to cleaner, more efficient production. Letters of Credit have been established with Sinoma Energy Conservation Limited for supply, installation and commissioning. The development has been disclosed to the Pakistan Stock Exchange as material information under the PSX Rule Book and the Securities Act, 2015. The plant will capture waste heat from kiln and clinker cooler exhaust — otherwise lost to the atmosphere — and convert it into steam and captive power, cutting fossil-fuel reliance and emissions intensity. The investment reflects DCCL's commitment to sustainable growth, recovering energy that would otherwise go to waste to strengthen both environmental performance and cost efficiency. The project is part of DCCL's broader modernisation programme to improve efficiency and advance its ESG goals.
Sehgal hosts farewell for French Ambassador, CG
KARACHI: Mr. Ikram Sehgal, patron in Chief hosted a farewell in honour of H.E. Nicolas Galey, Ambassador of France to Pakistan, and Mr. Alexis Chahtahtinsky, Consul General of France in Karachi, as they concluded their respective diplomatic assignments in Pakistan.The event brought together distinguished members of the diplomatic community, business leaders, academics, intellectuals and prominent citizens to bid farewell to the two French diplomats and acknowledge their contribution towards strengthening PakistanFrance relations.Mr. Ikram Sehgal, in his remarks, appreciated the services of Ambassador Nicolas Galey and Consul General Alexis Chahtahtinsky during their tenure and highlighted the importance of France-Pakistan relations. He noted that the relationship between the two countries extends beyond government-to-government contacts and encompasses trade, investment, education, culture, tourism and people-to-people exchanges.He particularly appreciated the efforts of both diplomats in maintaining close engagement with Pakistan's business and intellectual communities and in promoting greater understanding between the people of France and Pakistan. Speaking at the occasion, Ambassador Nicolas Galey reflected warmly on his time in Pakistan and expressed gratitude for the hospitality and friendship extended to him throughout his tenure. He recalled his interactions with Pakistani leaders, officials, business representatives, academics and members of civil society, noting that these engagements had given him a deeper appreciation of Pakistan's people, culture and potential. Ambassador Galey also emphasized the importance of continuing to strengthen bilateral relations. During his tenure, France-Pakistan cooperation remained active in areas including education, trade, investment, public health and development cooperation. STAFF REPORT
for the first time on such a broad scale in the province. He said Punjab had become the first province in Pakistan to establish an AI office and was already using AI in areas including the Safe Cities Authority, agriculture and traffic management. He added that Punjab had also become the first province to use AI technology for heart transplantation. Ali Dar said Punjab, with a 65 per cent youth population, had significant potential for technology-driven growth and employment. He said the province was targeting an AI-integrated and interconnected system by 2029. He said AI was being introduced as a compulsory subject in government educational institutions and that a pilot project aimed at creating market opportunities for students through AI had been successfully completed. He added that the government was providing AI training not only to civil servants and officials but also to members of the provincial cabinet. The Special Assistant to the CM said Pakistan was the world’s fourth-largest country in terms of the number of freelancers and expressed the provincial government’s willingness to benefit from Chinese technical assistance in AI.
UIG Announces United Digital Life Insurance Initiative LAHORE
STAFF REPORT
United International Group (UIG) is pleased to announce that the Board of Directors of The United Insurance Company of Pakistan Limited (UIC) has approved, at its Board Meeting, the formation of United Digital Life Insurance Company.The initiative marks an important milestone for UIG and reflects the Group’s strategic vision to expand its presence in the insurance and financial services sector through digital innovation and customerfocused solutions.United Digital Life Insurance Company is intended to further strengthen UIG’s position in the evolving insurance landscape and support the Group’s commitment to providing accessible, technology-driven insurance solutions.Through this company, life insurance services shall be provided to the customers by using digital means at their door step. Branch less facilities will be provided to our valued customers. Multiple coverage options and products will be offered as per customer requirements.The initiative will be taken forward subject to completion of all applicable regulatory and legal requirements and approvals.“We are confident that this initiative will open new avenues for growth and innovation and further strengthen our contribution to the insurance and financial services sector,” said Mian M. A. Shahid, Chairman of United International Group (UIG) and Chief Executive Officer of The United Insurance Company of Pakistan Limited.
Pakistan Seafood Reaches European Supermarket Shelves — A Major Export Milestone
LAHORE STAFF REPORT
Pakistan’s seafood industry has achieved a significant milestone as Pakistan-origin seafood products are now reaching European supermarket shelves, demonstrating the country’s growing capability to meet the stringent quality and food-safety standards of some of the world’s most sensitive markets.Speaking during a visit by a high-level Chinese delegation and other distinguished guests to Sea Green Enterprises, Mr. Asim Abrar, CEO of Sea Green Enterprises, highlighted the achievement and said the presence of Pakistani seafood products in European retail markets was a major breakthrough for the country’s seafood sector.Mr. Asim Abrar said the development proves that Pakistan’s seafood has the quality and potential to compete in international markets when properly processed, packaged and handled according to European and international standards.He emphasized that Pakistan possesses tremendous potential in seafood exports and, with the right infrastructure, investment, modern processing facilities and value addition, the sector could potentially generate US$1–2 billion in exports.He also expressed his appreciation to the Marine Fisheries Department, Ministry of Maritime Affairs and all relevant government departments whose cooperation and efforts have contributed to enabling Pakistan-origin seafood to access highly regulated international markets.The achievement by Sea Green Enterprises is being viewed as an important example of “Made in Pakistan” seafood successfully entering premium international retail markets, demonstrating the enormous untapped potential of Pakistan’s fisheries and seafood industry.Mr. Asim Abrar said the milestone should serve as a catalyst for further investment, modernization and value addition, enabling Pakistan to establish a stronger and more sustainable presence in seafood markets across the world.
Saturday, 29 August, 2026
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must turn PIMS FIRE: SENATE, NA DEMAND ACCOUNTABILITY Pakistan economic stability into long-term AS GOVT VOWS NO ONE WILL BE SPARED
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ISLAMABAD
STAFF CORRESPONDENT
HE government on Friday vowed that no one responsible for negligence would be spared over the fire at the Pakistan Institute of Medical Sciences (PIMS) that claimed the lives of 14 infants, as the tragedy triggered demands for accountability and sweeping reforms in the health sector. Speaking in the Senate, Minister for National Health Services Regulation and Coordination Mustafa Kamal said the government would hold those responsible accountable and urged parliament to help formulate a strategy to prevent similar incidents. “No one will be spared, no matter how influential they are,” the minister told the House, adding that he was speaking on behalf of Prime Minister Shehbaz Sharif and the entire government. Kamal said the deaths could not be treated as an incident that would remain in the news for a few days before being forgotten. He called for a comprehensive investigation and supported a proposal for a parliamentary committee, including opposition members, to probe the tragedy. “This is a matter of children’s lives, and we are answerable to God for it,” he said, adding that the health ministry should be subjected to scrutiny if that
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could help prevent future deaths. The minister said the Pims tragedy had exposed deeper problems in the country’s healthcare system and called for “radical reforms”. He said the investigation should not be confined to the immediate cause of the fire but should examine wider failures in the health sector. “When you go investigate this incident, you will find so many things associated with it,” Kamal said, describing the system as “rotten”. He also cited the country’s wider child mortality crisis, saying around 400,000
KP CTD kills four terrorists in a Peshawar graveyard shootout PESHAWAR
Dar warns against any move to deny Pakistan its Indus Waters WASHINGTON
STAFF CORRESPONDENT
STAFF REPORT
The Khyber Pakhtunkhwa Counter-Terrorism Department (CTD) killed four terrorists in an intelligence-based operation following a 20-25 minute shootout at a suburban graveyard in Mira Kachori area, the department said on Thursday. According to a CTD statement, intelligence reports had indicated that terrorists belonging to the Fitna al-Khawaraj JUA Jamroz group were meeting at Mehrab Gul Kala graveyard to plan attacks on security forces and government installations. Acting on the information, the SWAT team of CTD Peshawar Region launched an intelligence-based operation at the graveyard, adopting what the department described as a professional strategy and effective precautionary measures. As the CTD team reached the area, the terrorists opened fire after spotting the personnel. The exchange of fire continued for around 20 to 25 minutes before subsiding. A subsequent search operation found four terrorists dead, while other terrorists managed to escape under the cover of darkness, the statement said. All CTD personnel remained safe during the operation. The search operation led to the recovery of three Kalashnikovs, one pistol, one hand grenade, seven magazines and several cartridges from the possession of the killed terrorists. The recovered weapons and ammunition were taken into custody for further investigation and forensic analysis. An Afghan refugee card was also recovered from the pocket of one of the killed terrorists, identifying him as Syed Waliul Dalwani, son of Abdul Ghani, Sukna Nangarhar, Afghanistan. The CTD said intelligence agencies had earlier issued a threat alert that three suicide bombers from Afghanistan had entered Pakistan through Khyber District for terrorist activities. “In the light of available evidence, Syed Wali ul-Dalhani could be one of the three suicide bombers,” the statement said, adding that further investigation was underway to establish his identity and possible links.
Pakistan, Nepal call for stronger bilateral cooperation in trade, tourism and other fields ISLAMABAD
STAFF REPORT
children aged between one and five die every year, with about 1,300 deaths occurring daily from preventable causes. “It is not possible to bring back the infants who died at Pims, but let us look at it as a test from God and prevent the next kid from dying,” he said. Kamal said the inquiry report into the Pims fire was expected to be presented on Friday and offered to accept further scrutiny if parliament was dissatisfied with its findings. He also rejected calls for his immediate resignation, saying the investigation should first be completed and
Pakistan and Nepal on Tuesday called for stronger bilateral cooperation in trade, tourism, education and people-to-people contacts, with Federal Parliamentary Secretary for Information and Broadcasting Barrister Danyal Chaudhry stressing the restoration of direct flights between the two countries to improve connectivity and make air routes economically viable. The issue was discussed at a meeting of the PakistanNepal-Bhutan Parliamentary Friendship Group at Parliament House, Islamabad, chaired by Convener and MNA Dr Mahesh Kumar Malani. Barrister Danyal said restoration of direct air links would open new avenues for trade and tourism while facilitating greater peopleto-people contact between Pakistan and Nepal.
pointing out that he had already taken action over the incident. Senate seeks special committee The Senate suspended its routine proceedings following a motion by PPP parliamentary leader Senator Sherry Rehman, who called for a thorough debate on the tragedy. Rehman said the deaths had raised serious questions about governance, accountability and public safety. She criticised the reported closure of emergency exits at Pims, saying such doors must remain accessible during emergencies. Rehman, who has served as health minister, said she had previously resisted calls to close emergency gates and instead deployed guards to prevent security breaches. She also pointed to discrepancies between the Pims report and findings by the Capital Development Authority (CDA), which had reportedly raised concerns about the hospital’s fire-safety arrangements. “The PIMS report contradicts the CDA’s findings,” she said, questioning why action had not been taken despite concerns over the hospital’s safety standards. The Senate subsequently unanimously passed a resolution calling for the formation of a special committee to investigate the fire.
Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday warned that any attempt to deprive Pakistan of waters “rightfully allocated to it” under the Indus Waters Treaty (IWT) would have “profound consequences for regional peace and security”, urging India to resolve disputes through the treaty’s established mechanisms. Addressing a virtual seminar in Washington on The Indus Waters Treaty: South Asian Security at the Crossroads, Dar said the 1960 treaty remained “valid, binding and fully operative” despite India’s unilateral decision in April 2025 to place its obligations under the agreement in abeyance. He maintained that the treaty contained no provision allowing either party to unilaterally suspend or place it in abeyance. “Neither country can, through a unilateral political declaration, extinguish obligations solemnly undertaken under international
law,” he said. Dar argued that the dispute extended beyond Pakistan-India relations, saying it involved the sanctity of treaties and confidence in international law. “If solemn treaty obligations can simply be set aside whenever political relations deteriorate, the very purpose of concluding treaties is undermined,” he said. The foreign minister stressed that geography made cooperation over shared water resources unavoidable because “states cannot alter the direction in which rivers flow”. “That is precisely why rules matter,” he said, calling on the international community to uphold treaty-based water governance in South Asia. Dar noted that the IWT had survived wars, military crises and prolonged political tensions for more than six decades because both countries recognised that water, on which hundreds of millions of people depend, was too vital to be subjected to political fluctuations. He said Pakistan’s
position remained consistent and that treaty-based proceedings had continued despite India’s declaration of “abeyance”, reinforcing the principle that unilateral action could not override an agreed legal framework. Pakistan has pursued arbitration over disputes involving Indian hydroelectric projects on the Western Rivers, including Kishenganga and Ratle. The Court of Arbitration at The Hague has continued proceedings, with earlier decisions addressing jurisdiction and interpretation of the treaty. Under the IWT, the three eastern rivers — Ravi, Beas and Sutlej — are allocated primarily to India, while the three western rivers — Indus, Jhelum and Chenab — are allocated primarily to Pakistan, subject to specified uses by India. Dar said resorting to the Permanent Indus Commission, a neutral expert or a Court of Arbitration was “not an act of confrontation” but the implementation of the legal framework agreed upon by both countries.
CM Maryam unveils ‘Punjab Data Lake,’ invites Chinese investment in digital future LAHORE SALEEM JADOON
Punjab Chief Minister Maryam Nawaz on Friday announced the launch of Punjab’s first dedicated data centre, the “Punjab Data Lake”, and invited Chinese technology companies, investors and infrastructure leaders to partner with the province and invest in energy, computing, cloud, connectivity and tokenisation infrastructure to power Pakistan’s digital future. Addressing the Big Data Industry Expo 2026 during her visit to China, the chief minister said Pakistan-China friendship was not merely a relationship between two countries or governments, but a strong bond built on trust, mutual respect and a shared belief among the people of both countries. She said a state-level common data engine, known as OneMap, was at the centre of Punjab’s digital system. Through OneMap, more than 12 terabytes of geospatial data obtained from 31 departments and over 6,000 datasets were being integrated into a unified system.
“OneMap can help in planning, resolving land-related disputes and promoting more informed urban development,” she said. Maryam Nawaz said the Punjab government was also linking OneMap with the Punjab SocioEconomic Registry. “Through this integrated system, the government will be able to better understand the needs of its citizens, target resources more effectively and ensure that the right services reach the right peo-
ple,” she said. She said the government was developing the Punjab Data Lake alongside other systems. “Punjab’s first dedicated data centre is further strengthening our sovereign capabilities,” she added. “Pakistan-China friendship is a strong bond built on trust, mutual respect and a shared belief among the people of both countries. When we build the future together, our achievements and strength grow further,” she said.
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transformation, says Ahsan Iqbal ISLAMABAD
STAFF REPORT
Planning Minister Ahsan Iqbal said on Friday that Pakistan’s main economic task is to translate macroeconomic stability into durable growth, stronger productivity, higher exports, greater investment and more jobs. Addressing a visiting delegation of Harvard Business School MBA students at the Ministry of Planning and Development, the minister said Pakistan should be assessed not only by the difficulties it faces but also by the scale of its economic potential. He said the country has a population of nearly 260 million, a large youth population, a strategically important location, substantial agricultural and mineral resources, a growing digital economy and a strong overseas diaspora, all of which provide a base for long-term economic change. Iqbal said Pakistan needs to end what he described as a repeated pattern of boom, pressure on the external account, stabilisation and slowdown by reorganising the economy around productivity and exports. He said stabilisation is important, but by itself it does not amount to development. “Stabilisation is necessary, but stabilisation alone is not development. Pakistan cannot austerity its way to prosperity. We have to earn our prosperity through productivity, innovation, investment and exports,” He also briefed the students on URAAN Pakistan, which he described as the government’s national transformation framework built around the 5Es: exports, enterprise and employment; e-Pakistan and the digital economy; environment, climate change, food and water security; energy and infrastructure; and equity, ethics and empowerment. Economic goals and competitiveness The minister said Pakistan has set a target of becoming a $1 trillion economy by 2035, but added that the broader issue is not merely the size of gross domestic product. According to him, the more important question is what the country will be able to produce and sell competitively in global markets by that time. “The real question is what Pakistan will be capable of producing and selling competitively to the world in 2035 that it cannot produce today. Development is ultimately about building national capabilities,” Iqbal identified productivity, quality and innovation as essential to Pakistan’s future competitiveness. He said the government is trying to promote a national culture centred on Productivity, Quality and Innovation, or PQI, so that products made in Pakistan are increasingly recognised internationally for reliability, quality and value.
ECP withdraws KP Senate by-election plan, says no vacancy existed ISLAMABAD
STAFF REPORT
The Election Commission of Pakistan (ECP) on Friday formally withdrew its April 2 notification for the byelection to a general Senate seat from Khyber Pakhtunkhwa, ruling that no lawful vacancy had arisen following the disqualification of PTI senator-elect Murad Saeed. In a fresh notification, the ECP withdrew the election programme issued under its April 2 notification to fill one general Senate seat from KP, in pursuance of an order dated August 20. The development came a week after the commission faced criticism for allegedly assuming the role of a court by interpreting constitutional provisions and concluding that no lawful vacancy had been created. Senate elections for 11 vacant seats from KP were held on July 21 last year, with Saeed declared a returned candidate for a general seat on July 24, 2025. On March 7 this year, however, Saeed was convicted by Rawalpindi’s Anti-Terrorism Court-I and sentenced to 10 years in prison in the State vs Asim Rehman case. On March 25, the ECP determined that he stood disqualified under Article 63(1)(h) of the Constitution and subsequently declared the seat vacant. The commission later scheduled the by-election for April 23 in the KP Assembly. The process was subsequently halted following a petition by PML-N MPA Jalal Khan, who argued that Saeed’s disqualification could not result in a vacancy because he had never formally become a member of the Senate. No oath, no membership In its detailed order, the ECP drew a constitutional distinction between a “returned candidate” and a “Member of Parliament”, holding that declaration as a returned candidate did not automatically confer parliamentary membership. The commission referred to Article 255(3), under which a person required by the Constitution to take an oath before assuming office is deemed to have entered that office only on the day the oath is administered. It also cited Article 65, which bars an individual from sitting or voting in Parliament until taking the prescribed oath. The ECP said the Constitution’s use of the expression “person elected” rather than “Member” in Article 65 demonstrated a distinction between an individual who has been elected or declared returned and one who has acquired constitutional membership.
Pakistan condemns Israeli attacks against Syria, reiterates support for territorial integrity ISLAMABAD
STAFF REPORT
Pakistan on Friday strongly condemned Israel’s recent attacks against Syria at a UN Security Council briefing, reaffirmed its full support for Syria’s territorial sovereignty and integrity, and called for de-escalation, urging Israel to respect the 1974 Disengagement Agreement and completely withdraw its forces from all occupied areas. “Israeli military escalation against Syria is deeply concerning,” Pakistan’s Deputy Ambassador to the United Nations, Ambassador Usman Jadoon, said during a UN Security Council briefing on the humanitarian situation in Syria.
“Pakistan strongly condemns the attack carried out by Israel on Abu Al-Duhur Airbase in violation of international law,” he added. Israeli forces have carried out artillery attacks and ground raids in southern Syria in recent days, according to international media reports. Israeli forces shelled a hilltop near the town of Beit Jinn in western Damascus countryside late on Wednesday, according to witnesses quoted by Al Jazeera. Syria’s Alikhbariah TV separately reported that Israeli soldiers had also raided and searched a house in the village of Taranja in the Quneitra countryside. Israel has conducted hundreds of strikes on Syria since the overthrow of Bashar
Assad in December 2024. Tensions between Syria and Israel escalated last week after Israel targeted the Abu Duhur air base in the northwestern province of Idlib, prompting a strong rebuke from Damascus. Calling for immediate steps to prevent further escalation, Ambassador Jadoon said, “These are essential steps to prevent further escalation and safeguard regional peace and stability.” “We also reiterate that the Syrian Golan is an occupied Syrian territory, as affirmed by Security Council Resolutions 338 and 497,” he said. The Pakistani envoy reiterated Islamabad’s support for Syria’s territorial sovereignty and integrity and called for Israel to
respect the 1974 Disengagement Agreement between the two countries and withdraw completely from all occupied areas. Jadoon also appreciated the lifting of sanctions by the United States against Syria, saying the move had created a “greater space” for the country’s economic recovery and international reintegration. However, he noted that millions of Syrians continued to depend on assistance, stressing that humanitarian support must be sustained even as greater attention was devoted to recovery and reconstruction. The Pakistani envoy said Syria’s emerging stability must be protected against “terrorism”, noting that Daesh and “foreign terrorist fighters” continued to pose a serious
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threat to the country’s peace and stability. “Coordinated counter-terrorism efforts remain essential to prevent its resurgence and preserve Syria’s hard-won stability,” he said. “At the same time, the difficult legacy of the conflict must be addressed through transitional justice pursued fairly, impartially and in a manner that contributes to national reconciliation.” Pakistan and Syria have sought to forge closer ties in recent months as regional tensions have risen. Syrian Foreign Minister Asaad Hassan Al-Shaibani visited Islamabad earlier this month, marking the first visit by a top Syrian diplomat to Pakistan in 19 years.