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Profit PUNJAB REELS AS WORST FLOODS IN YEARS SUBMERGE 1,600 VILLAGES, DISPLACE 1.1M In partnership with

Friday, 29 August, 2025 | 4 Rabiul Awal, 1447

AUTHORITIES EVACUATE AROUND 1,009,000 PEOPLE FROM FLOOD-PRONE DISTRICTS NEAR CHENAB RIVER ALONE

NATIONAL DISASTER MANAGEMENT AUTHORITY WARNS SINDH OF LOOMING FLOODS FROM UPSTREAM, SWOLLEN RIVERS IN PUNJAB

LAHORE/ISLAMABAD/KARACHI/PESHAWAR

Rs 20.00 | Vol XVI No 52 | 8 Pages | Islamabad Edition

IN TOTAL, 147,500 ANIMALS EVACUATED TO SAFER LOCATIONS, 255 RELIEF CAMPS SET UP IN AFFECTED DISTRICTS

SINDH CM SAYS GOVERNMENT RECONSTRUCTED HEADWORKS, STRENGTHENED EMBANKMENTS AFTER DEADLY 2022 FLOODS

Saleem jadoon

UNJAB government, backed by Pakistan Army, the disaster management authorities and modern satellite monitoring, scaled up massive rescue and relief efforts as “unprecedented flash flood” continue to devastate vast swathes of the province, submerging 1,652 villages and forcing evacuation of more than 1.1 million people with Sindh bracing for “exceptionally high flows” moving into the Indus River with forecasting for a new rain spell. The National Disaster Management Authority (NDMA) described the floods, triggered by relentless rains and excessive floodwater released by India, as unprecedented, warning of more flow in rivers, especially downstream into the Indus River. The Punjab’s Provincial Disaster Management Authority (PDMA) reported that 1,652 villages near the Sutlej, Chenab, and Ravi rivers have been submerged. The Chenab remains the worst-hit, forcing the evacuation of over one million people. So

Staff RepoRt

Federal Minister for Planning and Development Ahsan Iqbal on Wednesday accused India of “weaponizing water,” alleging that New Delhi had deliberately released torrents from its dams, causing severe flooding in Pakistan’s Punjab province. “India has started using water as a weapon and has caused wide-scale flooding in Punjab,” Iqbal told a TV channel, citing the abrupt release of water into the Ravi, Sutlej, and Chenab rivers. The floods have already claimed at least seven lives in Gujranwala Division, while thousands of acres

NDMA CONFIRMS 820 DEATHS NATIONWIDE, CALLS FLOODS ‘UNPRECEDENTED’ WHILE KP REPORTS 406 DEATHS

NDMA, ARMY AND PROVINCIAL GOVT LEADING LARGE-SCALE RELIEF OPERATIONS AS SUPARCO SATELLITES TRACK FLOODWATERS; EMBANKMENTS REINFORCED

PM calls for urgent water storage projects, collective efforts to curb flood devastation NAROWAL

Staff RepoRt

far, 1,147,000 residents have been rescued, including 1,009,000 from the Chenab, 127,000 from the Sutlej, and 11,000 from the Ravi. Authorities have also shifted more than 147,000 livestock to safer areas, while 265 medical camps, 255 relief camps, and 214 veterinary camps are operational. According to the fresh data released by the NDMA, the monsoon death toll now has

Ahsan Iqbal slams India for ‘weaponising water’ as Punjab floods worsen ISLAMABAD

of land remain submerged. The National Disaster Management Authority (NDMA) has advised the Sindh Provincial Disaster Management Authority (PDMA) to begin evacuating vulnerable communities along the katcha (riverine) areas and low-lying belts of the Indus River and its tributaries. In response, Punjab Chief Minister Maryam Nawaz directed provincial and district administrations to expedite relief and rehabilitation efforts, ensure the on-ground presence of commissioners and deputy commissioners, document damage to homes and crops, and bar people from entering flood zones.

Afghanistan summons Pakistani envoy over alleged cross-border strikes in Nangarhar ISLAMABAD newS deSk

Afghanistan on Thursday summoned Pakistan’s ambassador in Kabul to lodge a formal protest over what it claimed were Pakistani military strikes in Nangarhar and Khost provinces, reigniting tensions between the two neighbours. According to Afghan officials, the reported strikes killed three civilians and injured seven others. Kabul’s Foreign Ministry denounced the attacks as a “blatant breach of Afghanistan’s territorial integrity and a provocative act,” warning that “such irresponsible actions will inevitably lead to consequences.” Afghan authorities alleged that two drone strikes hit a residence in Nangarhar’s Shinwar district overnight. Nangarhar Deputy Governor Maulvi Azizullah Mustafa said Afghanistan sought peace and good relations with its neighbours, but cautioned that such incidents undermined regional stability. There was no immediate response from Pakistan regarding either the reported strikes or the summoning of its envoy. The development comes amid worsening friction over cross-border militancy. Islamabad has repeatedly accused the Afghan Taliban of sheltering the banned Tehreek-eTaliban Pakistan (TTP), which has intensified attacks inside Pakistan since the Taliban’s return to power. Pakistan has at times conducted crossborder operations, insisting they target militant sanctuaries, but Kabul has consistently protested, terming them violations of sovereignty. Earlier this year, tensions escalated after Pakistan closed key border crossings in response to rising militant violence, prompting Afghanistan to impose restrictions on trade and movement. Despite several rounds of talks and high-level visits — including Foreign Minister Ishaq Dar’s recent trip to Kabul for a trilateral with China and Afghanistan — progress on the security front has remained limited. The latest episode further clouds prospects for Afghan Foreign Minister Amir Khan Muttaqi’s planned visit to Islamabad, which had already been delayed over UN travel exemption issues.

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rose to nearly 820 with over 1,100 injuries nationwide since the start of the monsoon season on June 26. Chairman Lt. Gen. Inam Haider Malik described the flooding as “unprecedented,” noting the rare convergence of three weather systems — from the Bay of Bengal, the West, and the Arabian Sea — that struck the country simultaneously. Prime Minister Shehbaz Sharif, who visited Narowal on Wednesday, warned that the situation may intensify as floodwaters surge towards Sindh, urging authorities to remain on maximum alert. Pakistan’s space agency SUPARCO has stepped in to provide technical support, supplying satellite images of submerged villages, washed-out roads, and stranded populations. These real-time maps are helping disaster managers prioritize evacuations, track crop and infrastructure losses, and plan supply routes for aid distribution. At least 15 people have died in Punjab’s latest flood spell, while the Pakistan Army continues to aid evacuations in Lahore, Kasur, Sialkot, Faisalabad, Narowal, Okara, Hafizabad, and Sargodha. The provincial government is on its toes due to the catastrophic flood as the three trans-border rivers have swollen to exceptionally high levels due to a combination of heavy rains and the excess water India is re-

Prime Minister Muhammad Shehbaz Sharif on Thursday stressed the urgent need to build additional water storage infrastructure to reduce the devastation caused by flash floods and safeguard lives and livelihoods. Chairing a high-level meeting in Narowal to review the flood situation, the prime minister said enhancing storage capacity was critical and must begin without delay. “Storage capacity is the need of the hour, and without wasting any more time, we should start work in this regard,” he emphasized. Highlighting the importance of mobilizing resources for new dams and reservoirs, he said Pakistan must rely on its own means. He also called for the speedy completion of ongoing projects, including the Diamer-Bhasha Dam, to shield the country from future disasters. The prime minister noted that while

leasing from dams, which then flows across the border into Pakistan. The flooding has forced the government to rush in the Army for assistance in eight districts: Sialkot, Narowal, Hafizabad, Sargodha, Lahore, Kasur, Okara and Faisalabad. The worst flood has so far submerged Sialkot, Narowal, Gujranwala, Jhang, Chiniot, Sambrial, Daska, Phalia and Kasur. The next cities in line of the flood were Sheikhupura, Shahdara, Hafizabad, Okara and Sahiwal. The scenes were of utter chaos as villages after village is surrounded by the floodwater with nearly a million people forced out of their homes, rice, cotton and other crops on thousands of acres of land

UK, Pakistan vow deeper cooperation in security, economy and humanitarian fields ISLAMABAD

Staff RepoRt

Federal Minister for Interior Mohsin Naqvi on Thursday met British High Commissioner Jane Marriott at the Ministry of Interior, where both sides reaffirmed their resolve to further strengthen Pakistan–UK relations in key areas of mutual interest. The discussions focused on cooperation in counterterrorism, counter-narcotics, border security, and curbing human trafficking, with both officials agreeing to scale up joint efforts in these priority sectors. High Commissioner Marriott congratulated Mohsin Naqvi on being awarded the Nishan-e-Imtiaz, commending his leadership and extending best wishes for his future endeavors. She also expressed condolences and solidarity with the people of Pakistan over the loss of lives in recent floods and heavy rains, conveying deep sympathy for the bereaved families. Minister Naqvi reaffirmed Pakistan’s firm stance on global peace and security, saying, “Pakistan has always been an advocate of peace and strongly con-

demns terrorism in all its forms.” He further underlined the UK’s significance as a trusted partner: “Britain remains an important partner in Pakistan’s journey of progress. We wish to expand bilateral cooperation with the United Kingdom in all areas of mutual interest.” The meeting concluded with both sides highlighting their shared commitment to broadening collaboration beyond security and law enforcement towards stronger political, economic, and humanitarian engagement.

the floods first hit northern areas, they were now wreaking havoc in Punjab’s plains. Offering prayers for those who lost their lives, he praised the coordinated rescue and relief efforts of Chief Minister Punjab Maryam Nawaz Sharif, the NDMA, Pakistan Army, and civil departments. “This spirit of cooperation has helped minimize losses,” he remarked. Recalling the 2022 floods that devastated Sindh and Balochistan, Shehbaz Sharif warned that Pakistan remains among the ten most climate-vulnerable countries, making preparedness vital. He urged all departments to adopt short-, medium-, and long-term strategies through robust decision-making. Chief Minister Maryam Nawaz expressed sorrow over the loss of lives, crops, and infrastructure but stressed that no deaths occurred due to negligence or mismanagement.

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were washed away along with thousands of cattleheads. The rising water in Ravi River has broken a 38-year-old record, threatening Shahdara city near Lahore. Floodwater from Ravi River has entered localities in Sarai Mughal, surrounding the population, destroying agriculture land, prompting the authorities to set up six flood relief camps along the riverbank. The raging Ravi also wreaked havoc in Manga Mandi, Nasla Basantar, Jester and Narowal and is threatening Head Balloki. A big flood wave of nearly 100,000 cusecs in Ravi passed through Renala Khurd with damage yet to be ascertained.

CONTINUED ON PAGE 03

KP CM vows full rehab, expresses solidarity with Punjab flood victims PESHAWAR

Staff RepoRt

Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur said Thursday that recent cloudbursts and heavy rains since August 15 have devastated several districts, claiming 406 lives, injuring 245, destroying 664 houses and partially damaging 2,431, besides affecting 511 roads, 77 bridges, and 2,123 shops. He said swift mobilisation of rescue teams saved 5,500 people, with 2,061 personnel and 176 vehicles and boats deployed. So far, 136 roads and 65 bridges have been restored, 119,000 people provided cooked food, 125 trucks of relief goods dispatched, and 70 medical camps established. The CM announced an enhanced compensation package: Rs2 million for families of the deceased, Rs500,000 for the injured, Rs1m for destroyed houses, Rs300,000 for partially damaged homes, and for the first time, Rs500,000 for destroyed shops and Rs100,000 for cleanup. Farmers and livestock owners are also covered. He said Rs654m has already been paid to families of 350 deceased persons, while further disbursements worth billions are being prepared through a digital system to ensure transparency.

Barrister Gohar quits four NA committees on Imran’s direction g

18 PTI MNAS RESIGN FROM STANDING COMMITTEES SO FAR, RESIGNATIONS SUBMITTED TO NA SPEAKER ISLAMABAD

Staff RepoRt

Pakistan Tehreek-e-Insaf (PTI) Chairman Barrister Gohar Ali Khan on Thursday stepped down from four standing committees of the National Assembly on the directions of party founder Imran Khan, as the party pressed ahead with its political strategy. So far, 18 PTI lawmakers — including Barrister Gohar — have resigned from different NA committees, while the party has also announced a boycott of the upcoming by-elections. Barrister Gohar quit four important parliamentary bodies: the

committees on Law and Justice, Human Rights, Information Technology, and the House Business Advisory. The resignations came after the Election Commission of Pakistan (ECP) disqualified several PTI leaders in July and August over their alleged role in the May 9, 2023, riots. Among those who have already resigned are Faisal Amin Gandapur — brother of KP Chief Minister Ali Amin Gandapur — Shaharyar Afridi, Junaid Akbar Khan, Sheikh Waqas Akram, and Amir Dogar. Others include Ali Asghar, Sajid Khan, Shahid Khattak, Faisal, and Asif Khan. Ali Asghar gave up his seats on the Cabinet, Privatisation, and Plan-

ning committees, while Sajid Khan resigned from the Overseas Pakistanis, National Heritage, and Kashmir-related committees, even declaring he was ready to vacate his assembly seat if instructed by Khan. Faisal quit the Economic Affairs, Food Security, and Parliamentary Task Force committees. Shahid Khattak announced he was withdrawing from all NA standing committees, while Asif Khan resigned from the Education, National Heritage, Culture, and Information and Broadcasting committees. Separately, Junaid Akbar relinquished his position as chairman of the Public Accounts Committee, submit-

ting his resignation to PTI chief whip Amir Dogar in compliance with the party’s political committee directive. Sources confirmed that NA Speaker Ayaz Sadiq has formally received the resignations of Faisal and Ali. PTI spokesperson Sheikh Waqas also sent his resignation from all NA committees to the Speaker a day earlier.

02 news

Friday, 29 August, 2025 | isLAmABAd

ECC APPROVES RS 30.2B SUPPLEMENTARY GRANT FOR CLOSURE OF UTILITY STORES CORPORATION

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rs30.2 billion supplemenTary funds To cover severance, dues, and salaries To be decided upon Today for The permanenTly shuT down usc PROFIT

ahmad ahmadani

HE Economic Coordination Committee (ECC) of the Cabinet has approved a technical supplementary grant of Rs30.216 billion to cover severance, dues, and salaries as Pakistan winds down its staterun retail chain. ECC held on Thursday under the chair Finance Minister Senator Muhammad Aurangzeb, approved a financial package of Rs30.216 billion to ensure the smooth closure of the Utility Stores Corporation of Pakistan (Private) Limited (USC). The approval marks a decisive step in ending decades of mounting losses at one of the country’s most prominent state-owned enterprises, while pledging protection for thousands of employees affected by the shutdown. As per details, the funding plan is designed to cover severance payments, terminal dues, compensation for contractual workers, and outstanding salaries, alongside partial settlement of vendor liabilities. The government said the package reflects its dual priority of maintaining fiscal discipline and safeguarding employee entitlements during the winding down of operations. Rs30.2 billion supplementary funds to cover severance, dues, and salaries to be decided upon today for the permanently shut down USCRs30.2 billion supplementary funds to cover severance, dues, and

salaries to be decided upon today for the permanently shut down USCThe ECC meeting was attended by Federal Minister for National Food Security Rana Tanveer Hussain, Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Power Sardar Awais Ahmad Khan Leghari (virtually), Special Assistant to the Prime Minister on Industries Haroon Akhtar Khan, as well as secretaries and senior officials from concerned departments. Industry sources noted that the supplementary grant had been under review since earlier this summer, when the Prime Minister was presented with options to either provide a Rs14 billion bailout to stabilize cash flows or approve closure by July 31, 2025. He opted for closure, leading to the constitution of a highlevel committee chaired by the finance minister to oversee employee compensation, property disposal, and modalities of privatization. USC’s board formally endorsed closure on July 2, 2025, after which over 1,000 rented outlets and 1,230 franchise stores were shut in less than two weeks. Established in 1971, USC was created to supply essential food items at subsidized rates and function as a price moderator. In 2007, the network underwent a major expansion to the Union Council level, with outlets rising from 1,023 to 5,557 and staff swelling from 3,892 to 12,749 by 2009. The scale of expansion necessitated heavy subsidies, but despite this support the corporation began recording continuous losses after

Govt sanctions Rs3.5b annual subsidy to expand Raast QR adoption at retail outlets PROFIT

staff report

The federal government has approved an annual subsidy of Rs3.5 billion to support large-scale adoption of Raast QR code-based payments at retail outlets. The subsidy aims to encourage merchants to shift from cash to digital payments, promoting financial inclusion and a cashless economy. According to a news report, the Finance Ministry stated that under the Merchant Discount Rate (MDR) subsidy, banks, microfinance banks, and Electronic Money Institutions regulated by the State Bank of Pakistan (SBP) will receive 0.5% of each Raast QR transaction or Rs100 per transaction, whichever is lower. The institutions may also charge up to 0.25% of the transaction value for onboarding and servicing merchants. The subsidy, which will be allocated through a Technical Supplementary Grant in the current financial year, is expected to support around Rs700 billion in merchant transactions annually. Merchants are required to display Raast QR codes at their outlets by August 31. The initiative follows directives by Prime Minister Shehbaz Sharif during Steering Committee meetings on a cashless economy in July 2025.

2013. By June 2025, accumulated losses had reached Rs23.8 billion. Facing sustained losses and shrinking fiscal space, the federal cabinet placed USC in the privatization list in August 2024 and withdrew subsidies the same month. In December 2024, USC’s board approved a rightsizing plan, reducing the number of stores from 3,742 to 1,904 and employees from 11,614 to 7,710 by February 2025. However, the company’s projected annual losses remained above Rs8.3 billion. On June 28, 2025, the Prime Minister was presented with two options: to close USC by July 31, 2025, or to continue operations with a Rs14 billion bailout to stabilize cash flow. The Prime Minister approved closure by the end of July and constituted a committee under the finance minister to oversee the process, including modalities for paying severance benefits under a Voluntary Separation Scheme (VSS). On July 2, 2025, USC’s board formally endorsed closure. Within two weeks, over 1,000 rented stores and 1,230 franchise outlets were shut down. The closure was briefly disrupted when unions staged a sit-in at USC headquarters in Islamabad, but the protest was called off after intervention by a committee led by the Special Assistant to the Prime Minister on Political Affairs, which held meetings with union leaders at the end of July. The finance minister–led committee subsequently met four times between midJuly and late August 2025 to finalize a lay-

off package estimated at Rs16–19.5 billion. This package includes Rs13.2 billion in severance for regular employees, Rs2.2–6.3 billion for contractual and daily wage staff, Rs5.1 billion in terminal dues, and Rs684 million compensation for widows of employees. The government emphasized that payouts to contractual staff would be negotiated with unions and would not set a precedent for other state entities. USC ceased nationwide operations on July 31, 2025, and has since been shifting stocks to warehouses for disposal. By August 31, 2025, the company intends to lay off the majority of its workforce. However, 832 employees will be retained from September to November 2025 to manage warehouses, reconcile stocks, conduct audits, and handle litigation, at a monthly cost of Rs210 million. From December 2025 to June 2026, this workforce will be reduced to 326 employees, costing Rs115 million monthly, to oversee property disposal and residual tasks. Meanwhile, USC has not paid salaries for July and August 2025, nor half a month’s salary for April 2025, requiring Rs1.47 billion to cover wages for 7,710 employees. The corporation’s financial stress is compounded by vendor liabilities and administrative expenses. To partially fund the lay-offs, USC was instructed to obtain fresh valuations for its 21 properties, which were estimated at Rs10.5–12.6 billion. However, complications remain: some titles have not been transferred to USC, certain properties carry leasehold restrictions or require building completion certificates, and others may incur commercialization charges. The Privatization Commission has been

Faysal Bank reports profit of Rs10.42b for first half of 2025 g

eps drops 23% as ToTal income falls To rs46.65bn; board announces inTerim dividend PROFIT

staff report

Faysal Bank Limited (PSX: FABL) reported a profit after tax of Rs10.42 billion for the half year ended June 30, 2025, down 23.13% compared to Rs13.56 billion in the same period last year. The bank declared an interim cash dividend of Rs1.5 per share (15%), in addition to the previously paid 15% interim dividend. Earnings per share (EPS) fell to Rs6.87 from Rs8.94, reflecting a 23.15% decline year-on-year. Total deposits increased to PKR 1.2 trillion—19% higher than December 2024—while current-account deposits crossed the half-trillion milestone at PKR 532 billion (up 30%), helping sustain core earnings amid declining rates. The Bank also exhibited strong ratios, with Advance to Deposit (ADR) ratio recorded at 57.8%, playing a role in the country’s

growth. CAR remained well above regulatory requirements at 15.6% and asset quality also improved, with the NPL ratio declining to 3.0% as compared to 3.6% as of Dec’24. As a result, Profit Before Tax (PBT) recorded at PKR 21.9 billion, whereas Earnings Per Share stood at PKR 6.59 for six months. The Bank reaffirmed its commitment to shareholder value by declaring an interim cash dividend of PKR 1.5 per share, reflecting a payout of 15%. The bank’s profit before taxation came in at Rs22.55 billion, reflecting a 14.39% decline from Rs26.34 billion a year earlier. Taxation payments were Rs12.12 billion, 5.11% lower than last year. Since the announcement of the financials, the bank’s stock price has fallen almost 5%, following a larger market trend. While the market echoed a different sentiment, the bank’s management seemed content with its

financial performance. Mr. Mian Muhammad Younis, Chairman of the Board of Directors, Faysal Bank, reflecting on the Bank’s half yearly performance, said in a press release, “Alhamdulillah, the results of the half year of 2025 underscore the enduring strength and stability of our Islamic banking foundation. They are a direct outcome of the clear strategic vision of our Board and the dedication of our management. Our ADR is serving the economic growth of Pakistan and FBL overall.” Mr. Yousaf Hussain, President & CEO of Faysal Bank, added, “At Faysal Bank, we strive to uphold the values of Islamic finance while offering modern, innovative and inclusive financial solutions that contribute to the real economy. Guided by our Shariah Supervisory Board, we continue to strengthen our risk management practices, governance framework, and customercentric approach to ensure

PTCL posts Rs9.9b consolidated loss marking 11% fall in profitability g

Telecom gianT's sTandalone performance also Takes as massive one-Time pension charge drags The group deep inTo The red PROFIT

staff report

Pakistan Telecommunication Company Limited (PTCL), the country’s former telecom monopoly and a key player in the fixed-line and broadband sector, has announced financial results for the half-year ended June 30, 2025, revealing a tale of two performances. The company’s consolidated operations, which include its mobile subsidiary Ufone, reported a massive loss of Rs. 9.90 billion (Loss per share: Rs. 1.94), a significant deterioration of 11%

approached to release original property documents. The Law and Justice Division has also been tasked with exploring legal avenues for expeditious property disposal under the Privatization Commission Ordinance, 2000. The proposed Rs30.2 billion supplementary grant breaks down as follows: Rs13.2 billion for severance, Rs5.7 billion for terminal dues and widow compensation, Rs2.2–6.3 billion for contractual staff payouts, Rs1.47 billion for pending salaries, Rs1.4 billion for retaining essential staff until June 2026, and Rs2 billion for vendor liabilities. An additional Rs9.9 billion for vendor payments would be budgeted in FY2026–27. The Ministry of Industries and Production has submitted the proposal to the ECC after approval from the Prime Minister, who is the minister-in-charge. Finance Division’s comments have also been shared. The closure of USC marks the end of an era for one of Pakistan’s largest state-run retail networks. Once envisioned as a nationwide price stabilizer, USC has instead become a symbol of unsustainable subsidies and mismanagement. With privatization now underway, the government faces the dual challenge of providing fair compensation to thousands of employees while ensuring that essential commodities remain accessible to low-income households. If approved, the supplementary grant will clear a path for USC’s final wind-up and property disposal, with the process expected to continue into mid-2026. The decision will also set a precedent for how the state manages closures of loss-making enterprises in the future.

from the Rs. 8.91 billion loss in the same period last year. This colossal loss is primarily attributed to a one-time, non-cash past service cost of Rs. 5.89 billion related to pension obligations, which severely impacted the bottom line. Mimicking the core business, contrary to the past, a severe deterioration in the standalone company’s profitability was also seen. Excluding its subsidiaries, PTCL reported a standalone loss of Rs. 3.26 billion (Loss per share: Rs. 0.64). This is a stark contrast to the profit of Rs. 1.14 billion (EPS: Rs. 0.22) reported in the

same period last year. This negative result is also primarily due to a one-time, non-cash past service cost of Rs. 5.89 billion related to pension obligations, listed under “Other costs.” This massive charge completely negated the company’s operational gains. Despite this, the core business showed some strength, with revenue growing by 11.8% to Rs. 58.91 billion from Rs. 52.70 billion in H1 2024. Operating profit before the pension charge stood at a healthy Rs. 7.86 billion. The consolidated revenue also grew healthily by 16.1% to Rs.

124.6 billion, demonstrating solid topline growth across the group. However, this was overshadowed by high operating costs and the massive pension charge. The company’s financial position remained stable, with total assets standing at Rs. 465.23 billion. Notably, the board of directors did not recommend any dividend for the period. Since the announcement of the financial result, the company’s share rice has maintained its course showcasing the market’s indifference over the growth in loss. By the time of the filing of this report, the company’s share price had gone down by less than 0.5%, showing resilience in the larger market sell-off.

Finance Minister unveils simplified income tax return for salaried individuals The new income tax return form will reduce required fields from 800 to 40, benefiting 80% of salaried taxpayers as part of broader fiscal reforms PROFIT

staff report

Finance Minister Muhammad Aurangzeb announced a simplified income tax return form for salaried individuals, reducing the number of fields from 800 to just 40, marking a step toward a more efficient and predictable tax system. The new form, available for public consultation on the Federal Board of Revenue (FBR) website for 40 days, is expected to benefit nearly 80% of salaried taxpayers. Speaking at the “Building a Resilient Public Financial Management Ecosystem” conference, Aurangzeb emphasized that the government’s focus is now on implementation rather than policy debate. He encouraged stakeholders to provide feedback on the new tax return form. In addition to this, Aurangzeb revealed that the tax policy-making function has been shifted from the FBR to the Ministry of Finance to improve strategic coherence and fiscal governance. He also highlighted the government’s commitment to stable, predictable taxation policies and cautioned against ad hoc measures to address revenue shortfalls, noting that erratic tax decisions have hindered domestic industry in the past. The minister further outlined plans for a new industrial policy aimed at attracting long-term investment and rebuilding investor confidence, which he said had been eroded by inconsistent past policies. Aurangzeb also reaffirmed the government’s commitment to accelerating privatization and improving the efficiency of state-owned enterprises (SOEs). Addressing broader national challenges, Aurangzeb stressed the importance of addressing climate change and population growth, calling them existential threats to Pakistan.

Pakistan’s gold jewellery exports face severe crisis after 60-day stoppage of shipments g

The suspension of sro 760 has halTed gold jewellery exporTs, risking over $60 million in orders and damaging pakisTan's markeT repuTaTion ISLAMABAD

Ghulam abbas

Pakistan’s gold jewellery export sector has encountered its worst crisis in 50 years following the suspension of SRO 760, leading to a complete stoppage of shipments and threatening millions of dollars’ worth of orders. The suspension, effective from May 6, 2025, for a 60-day period, has resulted in a direct loss of $15 million as not a single gram of jewellery has been shipped in the past four months. The suspension was initially aimed at addressing regulatory and tax concerns and has since been in place

following slow and delayed compliance by the industry. According to industry representatives, over $60 million worth of export orders have been deferred, and foreign buyers are now threatening legal action against Pakistani exporters for failing to comply with delivery deadlines. The suspension of the SRO has undermined the credibility of Pakistani exporters, with foreign buyers shifting their orders to competitors in India, the UAE, and other regional markets. The Pakistan Gems Jewellery Traders and Exporters Association has warned that

this disruption is eroding the market that took 50 years to build. Exporters also reported that nearly 50 kilograms of advance gold, worth $6 million, is stuck in Pakistan, as the suspension has blocked both the fulfilment of orders and the return of the advance gold to clients. A letter from TKR Gold and Gems Trading LLC, one of the UAE’s leading jewellery importers, highlighted the gravity of the situation. The company, which imports over 30 kilograms of jewellery from India monthly, expressed frustration with the halted exports from Pakistan, stating that they would cancel agreements with Pak-

istani companies if the issue is not resolved. The crisis is particularly damaging to Pakistan’s jewellery sector, which, though small in comparison to regional competitors, has struggled to establish a foothold

in high-value markets such as the UAE, UK, US, and Gulf countries. Analysts fear that once foreign buyers turn to Indian suppliers, regaining lost market share will be nearly impossible.

PAKISTAN CONFIRMS NO WHEAT IMPORTS AS DOMESTIC RESERVES MEET DEMAND

Friday, 29 August, 2025 | islAmAbAD

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GOVERNMENT ASSURES SUFFICIENT WHEAT STOCKS, FOCUSING ON FARMER WELFARE AND FOOD SELF-SUFFICIENCY PROFIT

staff report

HE Government of Pakistan has announced that it will not import wheat this year, as current reserves are adequate to meet the national demand. This decision was confirmed during the 8th Wheat Board meeting, where it was reported

PM calls for urgent water storage projects, collective efforts to curb flood devastation CONTINUED FROM PAGE 01

She lauded NDMA, PDMA, police, civil defense, and the Army for rescuing over 50,000 people and carrying out timely evacuations through an effective early warning system. She also noted minimal livestock losses owing to swift operations. With parts of a Gurdwara inundated, she ordered immediate drainage and directed the activation of field hospitals, the deployment of 1,000 mobile clinics, and adequate vaccine supplies to flood-hit areas. She instructed that women, children, and the elderly be prioritized in rescue efforts. Maryam Nawaz also highlighted that 200 km of roads had been damaged and ordered the restoration of temporary routes to maintain connectivity. She reiterated the need to store maximum water and reduce wastage while focusing on long-term rehabilitation. Federal Minister for Planning Ahsan Iqbal raised concerns about climate change, noting that Pakistan suffers greater losses than neighboring India due to weaker infrastructure. He said village connectivity had been severely disrupted, requiring bulldozers and heavy machinery for road clearance and medical access in coming days. Iqbal emphasized rehabilitation, urging agricultural banks to provide concessional loans to flood-affected farmers to help them rebuild and achieve selfreliance. Earlier, NDMA Chairman Lt Gen Inam Haider Malik gave a detailed briefing on the overall flood situation in Punjab.

Ahsan Iqbal slams India for ‘weaponising water’ as Punjab floods worsen CONTINUED FROM PAGE 01

Speaking separately in a video statement from Kartarpur, where he oversaw rescue operations, Iqbal denounced the water release as the “worst example of water aggression.” He said, “India stores water on rivers and suddenly releases it. This aggression threatens lives, property, and livelihoods. Some issues should be beyond politics, and water cooperation must be one of them.” The minister also criticized India’s failure to share timely information with Pakistan, calling it “inhumane and extremely regrettable.” His remarks come against the backdrop of the Indus Waters Treaty (IWT)—which obliges both countries to exchange information on water flows. However, India suspended cooperation under the treaty following the April Pahalgam attack in Indian Illegally Occupied Jammu and Kashmir (IIOJK). In June, the Permanent Court of Arbitration (PCA) issued a binding Supplemental Award, ruling that New Delhi cannot unilaterally suspend the treaty and reaffirming the jurisdiction of the court and Neutral Expert in IWT proceedings. Although India did inform Pakistan of the water discharge, it did so via diplomatic channels rather than through the bilateral commission, as required under the treaty—a move Islamabad views as a breach of its spirit.

that the national wheat availability stands at 33.47 million metric tons (MMT), slightly below the required 33.58 MMT, creating a negligible shortfall of only 0.11 MMT. Federal Minister for National Food Security and Research, Rana Tanveer Hussain, reassured that the gap is minimal and emphasized that there is no cause for alarm regarding the country’s wheat stock levels.

The government also reaffirmed its commitment to prioritizing farmer welfare, stating that support for farmers is its primary concern, rather than middlemen or speculative markets. Additionally, the minister confirmed that urea and other essential agricultural inputs are sufficiently available for the upcoming Rabi season 2025–26, with domestic fertilizer prices being closely monitored

to protect farmers from rising international costs. Minister Hussain further cautioned against hasty provincial actions that might cause market panic and stressed the importance of improved coordination between provincial and federal authorities to ensure smooth agricultural policy implementation, especially under the 18th Constitutional Amendment.

news 03

The meeting also addressed long-term food security measures, including strategies for improving wheat yields per acre, the adoption of better technology, and reducing production costs through various farmer support initiatives. The Ministry of National Food Security emphasized its continued collaboration with provincial governments to safeguard farmers’ interests and ensure a stable food supply for Pakistan’s population.

DG Khan Cement profit soars to Rs9.76b marking 11x growth YoY g

CONSOLIDATED EARNINGS PER SHARE SKYROCKET TO RS. 21.09 ON STRONG REVENUE AND LOWER FINANCE COSTS, AS THE CEMENT GIANT DECLARES A 20% FINAL CASH DIVIDEND PROFIT

staff report

D.G. Khan Cement Company Limited (DGKC) and its subsidiaries have announced an extraordinary financial turnaround for the year ended June 30, 2025. The Group reported a consolidated profit after tax of Rs. 9.76 billion, a dramatic in-

crease from Rs. 882.43 million in the previous year. This staggering 1,005% year-on-year growth in profitability is attributed to robust revenue growth and a significant reduction in finance costs. The Board of Directors has recommended a final cash dividend of Rs. 2.00 per share (20%) for the year.

The Group’s consolidated revenue rose by 9.4% to Rs. 78.63 billion from Rs. 71.89 billion in FY2024. This top-line growth was efficiently managed, leading to a massive 70.5% expansion in gross profit, which reached Rs. 19.80 billion. This improvement indicates better control over the cost of sales and potentially more favorable market pricing.

Punjab govt to release wheat stocks to curb rising prices

COMMODITIES AND PRICE CONTROL DEPARTMENT SETS RS2,900 PER 40KG FIXED PRICE FOR PUBLIC-SECTOR WHEAT TO STABILISE MARKET, SUMMARY AWAITS CM’S APPROVAL PROFIT

staff report

The Punjab government has decided to intervene by releasing its grain reserves and setting a fixed price of Rs2,900 per 40kg for public-sector wheat. A summary of the proposed price has been forwarded to Chief Minister Maryam Nawaz for final approval, according to a spokesperson from the Commodities and Price Control Department. According to media reports, wheat and flour prices in Punjab have surged sharply, with wheat rising by Rs300 this week to Rs3,100 per maund (40kg). Over the past month, wheat prices have increased by around Rs1,000 per 40kg, while a 20kg bag of flour has climbed approximately Rs500. Currently, the department holds 0.89 million tonnes of carryover

wheat from last year’s procurement. As open market prices surpass Rs3,100 per 40kg, concerns over affordability have grown. The rising cost of wheat is also putting pressure on roti prices, with tandoor operators warning of a possible Rs2 increase per bread, currently priced at Rs14. Pakistan’s wheat production for the 2024-25 season is 28.98 million tonnes, harvested from 22.5 million acres—far short of the target of 33.58 million tonnes and last year’s 31.8 million tonnes. Given the country’s population of over 250 million and an annual per capita wheat consumption of 115kg, this yield is insufficient to meet the nation’s food needs. An additional 1.2 million tonnes is needed for seed, while a portion of the harvest is also used in animal feed, replacing maize.

This season marks a shift in policy, as both federal and provincial governments, under agreements with international donors, have stepped back from wheat procurement and declined to set a minimum support price, moving away from years of market regulation. Chief Minister Maryam Nawaz has criticized “mafias” manipulating the wheat trade, claiming that investors are purchasing grain from farmers at low rates and later selling it to the government at inflated prices, as seen last season when procurement prices reached Rs4,000 per 40kg. In the past, governments procured 5-7 million tonnes of wheat annually—over 4 million tonnes by Punjab alone—primarily for strategic reserves and as a buffer stock. These reserves were traditionally released to flour mills in the fall to stabilize market prices.

The most impactful driver of the bottom-line surge was a 49.9% reduction in finance costs, which fell to Rs. 4.29 billion from Rs. 8.55 billion. This reflects successful debt management and a favorable interest rate environment. The Group’s earnings per share (EPS) witnessed a meteoric rise, reaching Rs. 21.09 for FY2025, compared to Rs. 1.42 in the prior year. Following the release of the financials, the company’s share price went up by almost 2% contrary to market trend, showing strong demand.

PSX closes marginally lower amid cautious trading and external pressures PROFIT

staff report

The Pakistan Stock Exchange (PSX) witnessed range-bound trading on Thursday, with the benchmark KSE-100 Index closing slightly lower by 150.53 points, or 0.1%, at 147,343.50. Investor sentiment remained cautious during the ongoing rollover week, characterized by low trading volumes and subdued market activity. On Wednesday, PSX had extended its losing streak for the third consecutive session, closing down 941.03 points, or 0.63%, at 147,494.03 Market analysts attribute the cautious mood to rollover pressures, with traders reacting to a weak economic outlook and concerns over a national flood alert. The combination of these factors, along with uncertain global cues, has prompted investors to remain on the sidelines, awaiting more clarity on both domestic and external factors impacting the market Despite the decline, there is cautious optimism that the market could stabilize once rollover-related pressures subside, though market participants remain wary of any further external shocks.

Rs330m paid for legal costs of PNSC vessels detained in South Africa, ECC told g

MV CHITRAL AND MV HYDERABAD WERE HELD BY AFRICAN COURT AFTER CONISTON LTD FILED A CLAIM AGAINST PAKISTAN STEEL MILLS PROFIT

staff report

The government has spent Rs330.526 million to settle outstanding litigation costs related to the detention of Pakistan National Shipping Corporation (PNSC) vessels in South Africa, following alleged claims against Pakistan Steel Mills (PSM), according to a news report. The Ministry of Maritime Affairs informed about the approval to the Economic Coordination Committee (ECC) in a recent meeting. In July 2025, PNSC informed the government that an

additional $290,200 insurance premium was due, adding to the Rs479.326 million already spent by PNSC on legal expenses and premiums for a surety bond in a South African court. The court had detained the vessels, MV Chitral and MV Hyderabad, after Coniston Ltd filed a claim against PSM. These ships were released after PNSC provided security backed by the government of Pakistan’s assurance. The government had agreed to indemnify PNSC against any adverse court ruling in 2017, and the ECC had endorsed this decision. As a result, PNSC was reimbursed Rs149 million, which covered a portion of the legal costs. However, ongoing litigation has led to additional payments,

prompting the need for further financial support. PNSC, a statutory body under the Pakistan National Shipping Corporation Ordinance of 1979, is majorityowned by the government with 87.35% of shares. The current funding approval aims to cover ongoing legal and insurance costs for the vessels while a resolution with Coniston is pursued. The Ministry of Maritime Affairs, in consultation with the Attorney General’s office, formed a negotiation committee in 2020 to address the PSM liability dispute. A settlement proposal of $6-11 million, down from the original $15 million claim, has been recommended. After multiple meetings, the ECC approved the release of Rs330.526 million as a technical supplementary grant to PNSC in the fourth quarter of the fiscal year, to ensure the continuation of legal proceedings and resolution of the dispute.

Punjab reels as worst floods in years submerge 1,600 villages, displace 1.1m CONTINUED FROM PAGE 01

Assistant Commissioner Tehsil Ravi said that though the situation was under control but a large wave of floodwater of approximately 150,000 cusecs is passing through Shahdara but the water level is expected to rises in the next 12 hours when 200,000 cusecs of water is expected to pass from the area. Pressure is worsening on Qadirabad Headworks in River Chenab threatening the embankment. The water level is feared to rise to million cusecs which will head to Jhang and Head Trimu in the next 48 hours. On Wednesday, the authorities blew up an embankment next to a monsoon-engorged dam as flooding submerged Kartarpur Sikh shrine. The floodwater from India has triggered flood alerts throughout Punjab, home to nearly half of Pakistan's 255 million people. Around 210,000 people had moved to another location on Wednesday, according to the disaster authorities. At the Qadirabad dam on the Chenab River, authorities carried out a controlled explosion of an embankment on Wednesday as the water levels rose. "To save the structure, we have breached the right marginal em-

bankment so that the flow of the water reduces," said Mazhar Hussain, a spokesperson for Punjab's disaster management agency. The Kartarpur shrine, which marks where the founder of the Sikh faith Guru Nanak is said to have died in 1539, was submerged by floodwater. Five boats were sent to the sprawling site to rescue around 100 stranded people. Authorities fear the crisis will worsen as floodwaters move south into Sindh province, whose chief minister has assigned ministers to monitor flood threats in Guddu, Sukkur and Kotri, while lawmakers from riverine constituencies have been directed to stay in their districts. Satellite data from Pakistan space agency guides flood relief efforts Pakistan’s national space agency SUPARCO on Thursday said it provided satellite images of flood-hit areas to help prioritize the government’s relief and rehabilitation efforts. Large areas of Punjab, Pakistan’s most populous province, have been inundated after India opened all gates of its major dams in the Kashmir region following heavy rains, sending water surging into the Sutlej,

Chenab and Ravi rivers. At least 15 people have died in the latest spell of monsoon floods, with army units deployed for relief operations in the worst-hit districts, including Lahore, Kasur, Sialkot, Faisalabad, Narowal, Okara, Hafizabad and Sargodha. “SUPARCO acquired pre- and postsatellite images of the affected areas, enabling authorities to clearly observe the situation,” the space agency said in a statement. “These images showed submerged settlements, damaged roads and disrupted communications,” it continued. “Such space-based information is crucial in disaster management as it allows rapid assessment of the situation, identification of vulnerable zones and prioritization of relief and rehabilitation efforts.” SUPARCO highlighted that it also made maps of crops and roads under potential exposure based on simulated flood extents. The agency monitors natural disasters through its disaster watch portal, providing reliable space-based satellite information and continuous updates on the evolving situation in the three rivers. It has also been using the National Ca-

tastrophe Modeling Project to provide risk assessment tools for floods, droughts, heatwaves, cyclones, tsunamis, landslides and earthquakes based on probability. “This flagship initiative helps in disaster preparedness, disaster risk reduction through mitigation and development of disaster risk financing strategies for Pakistan,” the statement said. SUPARCO highlighted the importance of space-based information for disaster management in developing countries, where timely data is crucial for saving lives amid limited ground access. Torrential rains along with flash floods, landslides and cloudbursts have killed 805 people across the country including 203 children and injured 1,107. Northwestern Khyber Pakhtunkhwa province has been the worst-hit, accounting for the majority of casualties. Pakistan is one of the world’s most climate-vulnerable nations, experiencing erratic weather from droughts and heatwaves to record-breaking rainfall despite contributing less than one percent of global greenhouse gas emissions. Sindh says ‘well prepared’ as NDMA warns of downstream floods Sindh Chief Minister Syed Murad Ali

Shah said on Thursday the provincial government is “well prepared” to tackle the looming threat of downstream floods from Punjab, saying officials were monitoring the River Indus and its embankments while climate activists and residents expressed fear. The National Disaster Management Authority (NDMA) has warned that rising water levels in Chenab, Ravi and Sutlej rivers were carrying exceptionally high flows and were likely to course downstream into Sindh. Torrential rains and excess water released by India have caused devastating floods in Punjab, where 17 people have been killed this week and over 1,600 villages have been submerged with water. The Meteorological Department has warned that Sindh is likely to receive heavy downpours on Aug. 30 and 31 in Tharparkar, Umerkot, Sukkur, Larkana, Jacobabad and Dadu districts. “The government is well prepared to face the situation we are anticipating,” Shah told the media. He added that the provincial irrigation department is closely monitoring River Indus and its embankments at the Guddu, Sukkur and Kotri barrages.

04 COMMENT

Money talks

Government goes solar

Solarization initiatives by various government departments are adding up

Friday, 29 August, 2025

Working out a long-overdue distribution formula

HREE completely different government organizations, all with different purposes, are opting for solar energy or electric vehicles, not so much for the environmental benefits, as for economic reasons. This is a process observed in private sector conversions, which are taking place because they show that there are huge savings to be had in conversion to renewable forms of energy. These projects are heralds of the time when the government as a whole opts to convert to renewables, as well as to solar power. It is also noticeable that each initiative represents a different aspect of renewables, and there are lessons to be learnt. For example, the Gwadar solar initiative, by which the region’s shortage of water is to be addressed by solar power for the desalination plants and pumping stations, is an example of how solar power can be used to solve water issues, like the chronic one facing Karachi, This likely to become important as climate change makes the water shortage worse. The Punjab government is importing 100 e-buses to expand a pilot project with 60 buses. This shows one of the earliest uses of EVs, in public transit. They will provide huge savings on fuel, which may bother the oil lobby, but which will lighten the taxpayers’ burden. Another scheme to use solar power is by the Pakistan Railways, which has converted 37 railway stations, out of a planned 155, which will cost Rs 455 million, but result in annual savings of Rs 163 million annually. That means that the investment will be recovered in under three years, and savings will continue. There seems to be no one complaining that this deprives the distribution companies of revenue. These kind of figures will force more and more departments to convert to solar power. That is the lesson to be learnt from the Railways’ experience. The central government does not really have to provide a lead, for individual department heads will manage static budgets only by being innovative and efficient. However, the government must continue to make it clear that it still encourages this sort of initiative. What is needed is some form of recognition of these efforts. The distribution companies need to end their Luddite attitude, and get on the bandwagon by developing solar options for the grid. Grid supply has many advantages, and the shift to solar power is because of the DISCOs’ failings.

at Penpoint M a nIaZI

HE 11th National Finance Commission holds its inaugural meeting today under the chairmanship of Federal Finance Minister Muhammad Aurangzeb. The government is working in some haste, though it does not have to, because only one month of the current financial year has passed, though this meeting, which will be introductory, as the five participating governments present their respective views, will not produce an Award. The Award must be finalized by around midMarch, or ideally a month earlier, so that it can be incorporated into the next budget. The present Award was made in 2010, and expired in 2015, after which the resource distribution has been carried out in accordance with the previous Award Basically, as mandated by the Constitution, the Award determines a ‘divisible pool of taxes’, which consists of those taxes collected by the federal government but which are distributed. The first decision is the division between the federal government and the provincial, which is presently set at 35 percent for the provinces, and 65 percent for the federal government. Then there is the decision of how the share of the provinces is to be divided among them. This is not the easiest of processes, and it is symptomatic that while the 11th NFC will meet, it will deliberate on the Eighth Award, showing that three commissions have met, but failed to declare an Award. It should be remembered that the Commission consists of the five finance ministers, one expert each from the provinces; and the decision is by consensus. That means that any one province may well hold out and refuse to let the Award agreed by the rest to go through. At the best of times for the federal government, with all four provincial finance ministers belonging to the same party, the discussions are usually acrimonious and positions taken are maximalist, because money is involved. Also, though the Award is supposed to only last for five years, martial laws have meant that Awards have been extended beyond their intended span. This has meant that Awards have been pretty ragged by the time they are replaced. Perhaps the 7th Award is something of an outlier, for it has lasted 15 years, which is the second longest there has not been an Award. Though the NFC was an old prePartition concept, the present series was only started under the 1973 Constitution, with the only Award made by the Bhutto Government in 1974 holding the field. And the Commissions formed under the Zia and Juenjo failing to produce awards. It was not until the 1991 Award under the first Nawaz government that an Award was produced. It should not be assumed that the present NFC will give an Award.00 NFCs have met before without a consensus being reached on an Award, The chances

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

of an Award because there are two governments which will try to make political capital out of opposition. The KP government is controlled by the PTI, which is opposed tooth and nail to the PML(N)-PPP coalition at the Centre, and has little incentive to reach a consensus. Though the PPP supports the government, it has not joined it, while it rules in Sindh on its own. As it has always claimed the NFC Award is unfair, and that Sindh has not been given the money promised under the Award, there will be an incentive to continue this obstructionism. It should be noted that the last time there was an Award, the PPP was in office in the Centre as well, and the Sindh government joined in the consensus. That Award had seen a very important change made. For the first time ever, criteria other than population were included in the formula for the distribution of the provincial share among the provinces. As Sind had always argued that other factors should be included, apart from party affiliation it had become difficult to maintain opposition to the Award. The new criteria included This Award will also operate under the provision of Article 160(3B), which provides that the share of the provinces would not be less than in the previous Award. In other words, the federal-provincial division, also called the vertical distribution, would not be changed downwards, so as to increase the federal share. Correspondingly, the federal government will not agree to any reduction in its share, because that would mean a permanent commitment. It is interesting that going into this Award cycle, one of the federal government’s targets is to ultimately have population eliminated entirely as a criterion for the horizontal distribution of the provincial share within the provinces. The reduction it will propose in the current Award will thus be meant to commit the provinces to a Multi-Award plan. There are three objections to this. First, it means there can be no slippages between Awards, as seems more the rule rather than the exception. A slippage will mean that the reduction will be put off, raising the question, when the NFC does convene, of whether the reduction is to be fully implemented, or how exactly it is to be implemented. Second, what

The NFC has not got an easy task ahead of it. While the money for both the centre and the provinces is scarce, the needs are apparently unlimited. Minor tweaks may not be enough.

When the court defended dignity M. A. Niazi

Babar Nizami

Editor Pakistan Today

Editor Profit

A landmark judgment for women’s rights in Pakistan Hasan TalaT

N a society where a woman’s dignity is often the first victim of marital disputes, the Supreme Court of Pakistan has recently delivered a powerful reminder that dignity is inviolable. The case of Saleh Muhammad v. Mst. Mehnaz Begum began like numerous others in our courts. A wife, named Mst Mehnaz Begum, was abandoned by her husband after just a year of marriage, allegedly after subjecting her to physical abuse. The helpless woman turned to our courts for the recovery of her dower, dowry articles, and maintenance. What followed, however, was not merely a financial dispute but an attack on her very identity as a woman. The husband, in a desperate bid to evade responsibility, alleged that his wife was “medically unfit” to perform conjugal rights and bear children and hence disputed her status as a “female” under the law, thereby seeking to deny her dower and maintenance altogether. This baseless claim forced the wife to undergo multiple invasive medical examinations, each of which confirmed her womanhood beyond a shadow of a doubt. Yet, humiliation persisted for years as the lower courts were dragged into what was, at its core, a frivolous and demeaning line of argument. It took almost two decades for a woman to receive the legal redress to which she was entitled. The Court’s response was clear and unequivocal. It condemned the husband’s conduct

as an abuse of judicial process, a violation of the wife’s dignity, and a mockery of the principles of justice. The Court assured that a woman’s infertility, even the false accusation of it, cannot take away her legal rights, let alone her womanhood. In doing so, the Court maintained a key principle: the rule of law must never be employed as a tool to perpetuate gender-based harassment. Moreover, the judgment went beyond the individual dispute. By imposing a fine of Rs 500,000 on the husband, the Court sent a strong message to those who abuse the judicial process to humiliate women. This sanction was more symbolic than punitive. It underscored the judiciary’s role as a guardian of women’s funda-

Our apex court has made it clear that womenÊs dignity cannot be disputed. The true test will be whether society pays heed and acts accordingly. Only time will tell what will happen as a result of this judgement.

mental rights enshrined under Articles 4, 9, and 25 of the Constitution which guarantee dignity, life, and equality. Another well-established principle was also reaffirmed by this judgement which was that higher courts will not arbitrarily overturn wellreasoned decisions made by lower courts. By declining to overturn concurrent decisions that favored the wife, the Court underscored the need for judicial finality and uniformity. This was crucial to prevent the woman from experiencing any more humiliation on top of what she had already endured in the lower courts. However, the ruling’s moral clarity was arguably its most potent feature. The Court reminded us that in Islamic tradition, marriage is a “sacred covenant” based on dignity, mutual respect, and protection. Here, the sanctity of marriage was invoked to defend women in a nation where it is all too frequently used to silence them. Although this ruling is cause for jubilation, it also begs the pressing question of whether this precedent will be successfully enforced. The Court has placed a line in the sand, but genuine reform necessitates effective enforcement from the general public as well as the court. A single ruling cannot eliminate gender-based discrimination; structural change, increased knowledge, and most importantly, a shared rejection of the culture of humiliation that women experience in both our homes and courts are necessary. Our apex court has made it clear that women’s dignity cannot be disputed. The true test will be whether society pays heed and acts accordingly. Only time will tell what will happen as a result of this judgement. The writer is a freelance columnist.

happens if one or more members of a future Commission refuse to implement that Award’s planned reduction: in short, can one Commission bind future Commissions? There is the possibility of a combination of these factors. What if, because of a shift in party affiliation for example, one finance minister objects, and thus stops it, and a successor is willing. This would turn the reduction formula unto a stopstart process it is not meant to be. Finally, the NFC tries to look into the future while determining its Award. It tries to estimate the government’s revenues and its expenditures. Those projections have often been thrown for s loop by events. With climate change causing more frequent extreme weather events, suddenly occurring needs might spike. Projections involving Multiple-Award periods are going to be decidedly wonky. There is also going to be the issue of whether the Federal Capital Territory, Azad Kashmir and Gilgit Baltistan are to be funded. So far, the federal government has been funding them out of its share, but that share has gone down from 80 percent in 1974 to the present 42.5 percent. FCT, AJK and GB funding done out of a larger share. It is not a case of a poor centre and extravagant provinces. The provinces are also poor. However, two of the anticipated developments on which the last Award was premised have not occurred. First, the provincial finance commissions have not made awards, under which provincial governments were supposed to devolve revenues to local governments, along with functions. Second, departments repatriated to the provinces have not been fully integrated. The federal government now wants to tie provincial shares to outcomes in such basic functions as health and education. The NFC has still to handle the legacies of the past. There will be an attempt, backed by both the establishment and the IMF, to reverse the caps set by the Eighteenth Amendment. Though the tax-GDP ratio has increased, the federal government has not benefited enough. It is likely that it will need to borrow to pay salaries. Unless it can keep more of its collections, it will have difficulty servicing its debt. That is why certain parts of the budget, like the Benazir Income Support Programme are likely to come from the provinces. The NFC has not got an easy task ahead of it. While the money for both the centre and the provinces is scarce, the needs are apparently unlimited. Minor tweaks may not be enough. The writer is a member of staff

Editor’s mail

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

Revive Post

WITHIN the corridors of bureaucracy and behind closed doors, the whispers of Pakistan Post’s potential privatisation are growing increasingly audible, echoing the fate of thousands of its employees and hundreds of thousands of those Pakistanis who make frequent use of Pakistan Post’s services. The cost of moving ahead with such plans would be massive. Pakistan Post is one of the country’s largest public-sector organisations, with thousands of employees, its own buildings and guesthouses located in the heart of almost every major city across the land. It also operates numerous small offices, staff colonies, schools and much more in the country. It is practically true that, like a few other Pakistani public-sector organisations, Pakistan Post is facing dire fiscal issues owing to an unprecedented commercial downturn and a mounting deficit. Considering these undeniable realities, must privatisation be seen as the only path forward, the last and sole solution, or is meaningful, practicable and effective reform still an option? My view, study, work and research all favour the latter. Competing courier companies neither own their infrastructures nor maintain legions of permanent employees. They operate without their own buildings, but not without direction. Their success and strength lie in swift deliveries, attractive handling, professional manners, targeted marketing, and a logistic system that works, and works efficiently. These private companies do not ask us to wrap our parcels in cloth, and seal them with a rare kind of wax, nor do they rely on handwritten ledgers and daily reports, or outdated delivery systems. They never insist on keeping our books open from one side for availing discounted book-post service. They also provide good services, and people generally trust them. Pakistan Post, on the other hand, has its own ways, and, therefore, it needs urgent reforms, not abrupt privatisation. The available infrastructure and man-power can still be effectively utilised. Pakistan Post does not need more commanders; it needs more foot soldiers. The officer cadre must be downsized, with current individuals reallocated to other groups within the public service structure. Ultimately, it will lighten the load of bloated salaries and undue perks by more than 40 per cent of the total expenditure. Other practical and workable steps can be taken on a priority basis to sustain the lifeline of Pakistan Post. These include refresher courses for lower staff, effective checks and balances, careful handling of parcels, innovative marketing strategies, incentivisation of employees, rationalisation of postal rates. QAMAR ABBAS WARRAICH FAISALABAD

Fatal attendance

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ONCE again, monsoon rains laid bare the reality of Karachi’s broken drainage system and failed urban planning. It was a slight drizzle which turned into a heavy spell within no time. Many students of the Dow University of Health Sciences (DUHS) initially waited at home, thinking the rain might ease off, but the relentless pressure of 85 per cent mandatory attendance forced them to attend classes even if their lives were at risk. Universities, instead of prioritising student safety, enforce rigid attendance policies as if classrooms matter more than human lives. It was this callousness on the part of the DUHS administration that forced students to suffer flooded streets, trauma and injury. Luckily, there were no deaths. By the afternoon, sewage water had overrun the city. Near the Civil Hospital and around DUHS itself, roads had become rivers. Only I know how I reached home. Later, messages flooded our class groups: entire buses of students remained stranded for up to 10 hours without food, water or phone battery. Some messages were posted at 3am by students who had still not reached home. Imagine the plight of their families as they waited in fear. How helpless they must have felt. This was not just routine mismanagement; it was a grave failure on the part of the DUHS administration that endangered young lives. After 78 years of independence, if the authorities still cannot give Karachi a working drainage system, they should at least announce a precautionary holiday. KARACHI

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COMMENT 05

Trump’s Gaza blueprint unfolds

Friday, 29 August, 2025

The latest settlement plan denies West Bank contiguity

Qamar bashir

N early 2025, President Donald Trump unveiled one of the most controversial and shocking proposals in modern Middle Eastern history: a plan to forcibly relocate nearly two million Palestinians from Gaza and the West Bank to neighbouring Arab countries and turn Gaza into what he called the “Riviera of the Middle East.” Standing alongside Israeli Prime Minister Benjamin Netanyahu, Trump described this plan as an “opportunity” for Palestinians to live elsewhere while Israel would retain full control of Gaza, the West Bank, and Jerusalem. Netanyahu strongly endorsed the vision, calling it “free choice” for Palestinians, but global human rights organizations and numerous governments immediately recognized it for what it truly was— a blueprint for mass displacement and the erasure of Palestinian identity. Arab nations, including Jordan and Egypt, rejected the plan outright, calling it “unrealistic, immoral, and illegal,” while international observers compared it to historical examples of ethnic cleansing and warned that implementing such a policy would constitute a grave violation of international law. The proposal became a political fault line that deepened existing divisions while simultaneously fuelling the already volatile situation on the ground. When Palestinians refused to leave their ancestral homes, Israel intensified its military operations in Gaza and parts of the West Bank. As the offensive escalated, the human toll became catastrophic. Verified figures from multiple independent sources, including the United Nations and major news agencies, confirm that more than 60,000 Palestinians have been killed so far, with tens of thousands more wounded or permanently disabled. Among them are thousands of children whose lives were cut short and countless families torn apart. Hospitals, schools, and residential neighborhoods have been reduced to rubble, leaving survivors without shelter, medical care, or hope for stability. Gaza, already one of the most densely populated areas in the world, now faces near-

total devastation. The destruction of its infrastructure has created a humanitarian catastrophe, with shortages of food, clean water, and electricity, alongside widespread starvation and disease. Despite growing international pressure, Israel continues its operations largely with impunity, confident of Washington’s unwavering political and financial backing. What makes this moment profoundly alarming is not just the scale of destruction but the alignment of global powers enabling it. Netanyahu’s government views this offensive as a historical opportunity to annex and expand illegal settlements across Gaza and the West Bank, effectively erasing the possibility of a future Palestinian state. Israel’s finance minister Bezalel Smotrich has openly stated that the approval of settlement construction in the sensitive E1 corridor, east of Jerusalem, will “bury forever the idea of Palestinian statehood.” This controversial settlement project, covering nearly 12 square kilometers, would split the West Bank into disconnected northern and southern zones, making territorial continuity impossible. Despite this blatant defiance of international law, Israel secured silent complicity from the U.S. administration, which has refused to intervene and continues to provide military aid and diplomatic cover. But while Trump’s administration appears satisfied that elements of its relocation vision are unfolding, the global backlash has been unprecedented. In a rare show of unity, 21 countries, including Australia, the United Kingdom, France, Canada, Italy, Spain, and Sweden, issued a joint statement condemning Israel’s settlement plans and declaring them a “flagrant violation of international law.”

These nations further demanded that Israel halt construction immediately and allow unrestricted humanitarian access into Gaza. Australia, in particular, emerged as a surprising leader among Western countries. Prime Minister Anthony Albanese’s government not only condemned Israel’s actions but also announced conditional recognition of a Palestinian state, joining a growing coalition of nations willing to defy U.S. and Israeli pressure. In an even bolder move, Canberra canceled the visa of far-right Israeli lawmaker Simcha Rothman, citing inflammatory remarks, which triggered retaliatory action from Israel, including revoking the residency visas of Australian diplomats assigned to the Palestinian Authority. Despite Netanyahu’s personal attacks labeling Albanese “weak” and accusing him of “betraying Israel,” the Australian government stood firm, underscoring its commitment to humanitarian principles over political expediency. Equally significant has been the role of European countries, many of which have quietly broken away from Washington’s long-standing alignment with Israeli policy. The joint condemnation of settlement expansion, combined with growing calls for an arms embargo, represents a notable shift in Western diplomacy. These nations have prioritized international law and human rights over geopolitical convenience, risking trade disruptions, diplomatic backlash, and influence from powerful pro-Israel lobbies. Their recognition of Palestinian statehood and coordination of humanitarian aid pipelines mark a decisive moment in global politics: a willingness to prioritize justice over fear. However, what remains most heartbreaking is the near-total silence from many Mus-

The time to act is now. The responsibility does not rest solely on the shoulders of Palestinians or their immediate neighbors·it belongs to the entire world. The struggle in Gaza is not a local issue; it is a global moral reckoning. A future built on dispossession and death cannot bring security or peace to anyone, not Israelis, not Palestinians, not the wider world.

lim-majority countries. While Jordan and Egypt firmly rejected Trump’s relocation plan and proposed alternative reconstruction frameworks, the broader Muslim world has offered little beyond statements of sympathy. Despite representing nearly two billion people and controlling immense financial, political, and energy resources, these governments have largely avoided taking tangible steps such as imposing economic sanctions, severing trade, withdrawing ambassadors, or leveraging international forums to isolate Israel diplomatically. For Palestinians under siege, this silence has become a source of profound disillusionment. They have watched as Christian-majority nations like Australia, Ireland, Spain, and Norway have risked their alliances and economic interests to condemn Israel’s actions, while many Muslim capitals have remained passive spectators to the destruction of Gaza. The hypocrisy deepens when viewed against the backdrop of global public opinion. Massive protests have erupted across Europe, North America, and Latin America, with millions marching to demand an end to Israeli attacks and calling for justice for Palestinians. Social media movements amplifying calls for boycott, divestment, and sanctions have gained unprecedented traction, putting increasing pressure on Western governments. Yet, Muslim leaders— despite being historically viewed as guardians of Palestinian rights— have avoided leveraging their collective influence on the global stage, citing domestic instability, economic vulnerability, or geopolitical alliances. This silence has left Palestinians feeling politically abandoned, not only by their adversaries but by their own supposed allies. The figures paint an undeniable picture. Over two million people in Gaza remain trapped in what experts describe as the world’s largest open-air prison. More than 60,000 are dead, hundreds of thousands wounded, and over 80 percent of Gaza’s population displaced. Entire families have been wiped out. The Israeli E1 settlement plan threatens to divide the West Bank permanently, effectively eliminating the possibility of a contiguous Palestinian state. The combined impact of military aggression, illegal land annexations, forced displacement proposals, and blockade-induced starvation amounts to what international rights groups describe as collective punishment on an unprecedented scale. And yet, amidst this tragedy, glimmers of hope remain. Australia’s bold defiance and the growing list of nations recognizing Pales-

tine represent cracks in the seemingly unshakable wall of impunity Israel has enjoyed for decades. The collective action of 21 countries in challenging illegal settlements shows that alliances are shifting, even if slowly. These countries have demonstrated that moral courage can coexist with diplomacy and that choosing humanity over expediency carries weight on the international stage. Still, history will not only remember the oppressors and the victims but also those who stood silent when their voices were most needed. While Netanyahu pursues his vision of territorial expansion and Trump celebrates the partial implementation of his relocation plan, the burden of conscience now rests on the global community. The lesson is painfully simple: neutrality in the face of oppression always favors the oppressor. The failure of powerful Muslim states to mobilize meaningful resistance has left an indelible scar on the collective identity of the Muslim world and a haunting question for generations to come: when Gaza cried for help, why was the silence louder than the bombs? The Gaza crisis has transcended borders, religions, and political ideologies. It is no longer about negotiations between two adversaries; it is about humanity’s willingness to defend the right to exist, the right to dignity, and the right to justice. Every government, every institution, and every individual faces a choice between complicity and courage. History will record the nations that risked alliances, economic interests, and political capital to uphold international law, and it will equally remember those that turned away. As images of starving children, destroyed neighborhoods, and grieving families continue to emerge, the call to conscience grows louder. The time to act is now. The responsibility does not rest solely on the shoulders of Palestinians or their immediate neighbors— it belongs to the entire world. The struggle in Gaza is not a local issue; it is a global moral reckoning. A future built on dispossession and death cannot bring security or peace to anyone, not Israelis, not Palestinians, not the wider world. Justice must rise above power, and humanity must triumph over indifference, or else the Gaza tragedy will be remembered not only for its suffering but for the silence that allowed it to happen.

The writer retired as Press Secretary the President, and is former Press Minister at Embassy of Pakistan to France and former MD, Shalimar Recording & Broadcasting Company Limited

Israel’s man inside the CIA betrayed the US CIA spymaster James Angleton shaped the US-Israeli relationship in secrecy. Newly unredacted files shed light on his wanton betrayal of his country to assist Israel’s theft of US nuclear material and global spying operations

THE GRAYZONE

Kit Klarenberg and Wyatt reed

ETERAN CIA counterintelligence chief James Angleton secretly oversaw a top-level spy ring involving Jewish émigrés and Israeli operatives without “any clearances” from Congress or Langley itself, according to recently declassified documents published as part of the Trump administration’s pledge to disclose all available information on the assassination of President John F. Kennedy. The files provide a fresh and often disturbing look at a spy described by historian Jefferson Morley as “a leading architect of America’s strategic relationship with Israel,” detailing Angleton’s role in transforming the Mossad into a fearsome agency with global reach, while assisting Israel’s theft of US nuclear material and protecting Zionist terrorists. Angleton established the Jewish emigre spying network in the aftermath of WWII, with the apparent goal of infiltrating the Soviet Union. But as the files show, the spymaster considered his “most important” task to be maintaining the supply of Jewish immigrants flowing from the Soviet Union towards the burgeoning Israeli state. According to Angelton, his Jewish assets were responsible for 22,000 reports on the USSR, generating several intelligence masterstrokes. Chief among them was the publication of Soviet Prime Minister Nikita Kruschev’s famous 1956 secret speech denouncing Stalin, which the spymaster boasted “practically created revolutions in Hungary and Poland.” Elsewhere, Angleton bragged that his arrangement with Israel had produced “500 Polish intelligence officers who were Jewish” who “knew more about Polish intelligence than the Poles.” Other passages appear to show Angleton taking credit for securing the “release” of several Zionist terrorists affiliated with the Irgun militia before they could be convicted for bombing the British embassy in Rome. Though the group had been captured by Italian authorities, the newly-disclosed files indicate the terror cell was freed on the orders of the CIA. The information was originally divulged in 1975 to senators serving on the Church Committee, which probed widespread abuses by US intelligence in the decades prior. Congress was particularly interested in claims by New York Times foreign correspondent Tad Szulc, who testified under oath that Angleton had personally informed him that the US provided technical information on nuclear devices to Israel in the late 1950s. Additional unsealed FBI documents, which refer to Israel’s Mossad as Angleton’s “primary source” of information, confirm that the CIA’s head of counterintelligence relied heavily on Tel Aviv to solidify his position within the Agency – and also add to the growing body of evidence that Angleton may not have been operating

with US interests in mind throughout his 21-year tenure. Other newly declassified files from the FBI have shown that Angleton maintained a wildly lopsided relationship with the Bureau, which saw federal agents deferring to the CIA counterintelligence chief after they caught him surveilling the correspondence of huge numbers of Americans. The files show Angleton openly admitting he would have been fired if Langley caught wind of his leaks to the Bureau. A side-by-side analysis of the now-unredacted Church Committee files compared with their previouslyreleased versions from 2018 demonstrates that even after 70 years, Washington felt compelled to conceal details of its real relationship with Israel’s founders. Over a dozen references to “Israel,” “Tel Aviv,” or descriptions of figures as “Jewish,” which were scrubbed from the 2018 release, can now be viewed on the National Archives site. Though some observers, including researcher Aaron Good, previously theorized that the redactions contained references to Israel, the newly released versions of the files prove it unequivocally. The documents reveal that Angleton repeatedly lied to multiple Congressional bodies, including the Church Committee, which investigated CIA abuses, and the House Select Committee on Assassinations, which probed the murders of John F. Kennedy and Martin Luther King, Jr. Angleton was similarly evasive when interrogated over Israel’s nuclear weapons program, and about CIA knowledge or complicity in the scheme. Those documents also reveal that Angleton’s CIA counterintelligence staff ordered Lee Harvey Oswald’s removal from federal watchlists six weeks before Kennedy’s assassination, despite his classification as a high security risk. The surveillance of Oswald was personally overseen by a member of Angleton’s intelligence network of Jewish emigres, Reuben Efron, a CIA spy from Lithuania. Angleton had placed Efron in charge of an Agency program called HT/Lingual which intercepted and read correspondences between Oswald and his family. Numerous historians have questioned why the CIA counterintelligence chief insisted for decades on personally overseeing what he described as the “Israeli account.” Though several off-the-record interactions remain impossible to parse, the documents show that when grilled about his “unusually close” connections to the Israeli Mossad, Angleton acknowledged forming an “arrangement” in which, “in most simplistic terms, [the Israelis] were informed that we would not work with them against the Arabs, [but] that we would work with them on Soviet bloc Intelligence and communism.”

FREEING ZIONIST TERRORISTS: One of the earliest instances of Angleton’s cooperation with Zionist elements came as Zionist militants embarked on a terrorist campaign to pressure the British colonial authorities to leave Mandate Palestine. In October 1946, three months after they bombed the British administrative headquarters at the King David Hotel in Jerusalem, members of the right-wing Irgun militia planted explosives in the British embassy in Rome in a failed bid to assassinate the UK’s ambassador to Italy. According to Angleton, after the Irgun “blew up the British embassy in Rome” in 1946, the CIA intervened to ensure they escaped Italy without prosecution.

A SECRET DEAL WITH THE MOSSAD: As Washington sought to manage the political ruptures caused by the creation of Israel, and monitor the wave of Soviet

New York Times foreign correspondent Tad Szulc testified under oath that Angleton had personally informed him that the US provided technical information on nuclear devices to Israel in the late 1950s

migrants pouring into the self-proclaimed Jewish state, Angleton framed his takeover of “the Israeli account” as a convenient way for US intelligence to kill two birds with one stone. “The other side of the Israeli problem was that you had thousands coming from the Soviet Union and you had the Soviets making use of the immigration for the purpose of sending illegal agents into the West and breaking down all the travel control, identifications and so on. And so there was both a security problem and a political problem.” To manage these “problems,” the US and Israelis brokered a deal involving the secret exchange of “papers and signals, communications intelligence, [and] the other products of intelligence action,” Angleton stated. The spy chief claimed the only records of the 1951 arrangement held by the US side would be in the possession of the Agency, and admitted US Congress had been left in the dark, telling senators, “I don’t think there were any clearances obtained from the Hill.”

GROOMING ZIONIST SPIES “OUTSIDE THE STRUCTURE” OF THE CIA: Angleton was especially protective of what he called “the fiduciary relationship” with Tel Aviv, assembling a close-knit clique of Jewish Americans with dubious loyalties to manage it as World War Two drew to a close. “I started from the south side with two Jewish men who worked with me during the war,” he explained. Having “sent them over as ordinary people under cover” to get their bearings in newly-formed Israel, Angleton “brought over six others and put them through some months of training, outside of the structure” of the CIA. “To break down the fiduciary relationship – which is after all a personal business – all the men I have had, were men who stayed in it and came back to headquarters and went back to Tel Aviv, they went to the National Security Council, and went back to Tel Aviv, et cetera.”

ENABLING ISRAELI THEFT OF US NUCLEAR MATERIAL, SPYING ON AMERICA: Angleton’s role in enabling Israel’s wanton theft of nuclear material from an American facility is one of the more shocking episodes in the US-Israeli relationship. The scene of the crime was the Nuclear Materials and Equipment Corporation, or NUMEC, a uranium processing facility in Apollo, Pennsylvania owned by a Zionist financier named David Lowenthal. In 1965, Zalman Shapiro, a fellow Zionist hired by Lowenthal to run the plant, illegally diverted hundreds of kilograms of nuclear fissile material to Israel. Posing as a scientist, the notorious Mossad spy Rafi Eitan visited NUMEC three years later to continue the heist. As Jefferson Morley documented in his biography of Angleton, “The Ghost,” the late CIA counterintelligence chief made sure the CIA looked the other way as Israel constructed its first nuclear weapon out of the stolen fissile material. According to Morley, “Angleton, it is fair to say, thought collaboration with Israel was more important than U.S. non-proliferation policy.” A 1977 investigation by the US Government Accountability Office found that the CIA withheld information about the NUMEC nuclear theft from the FBI and Department of Energy, and “found that certain key individuals had not been contacted by the FBI almost 2 years into the FBI’s current investigation.” The latest batch of Church Committee files add new detail about Angleton’s compromising of US national security to benefit Israel, and his attempts to cover up his betrayal.

During his testimony before the Committee, Angleton was pressed about media reports alleging that he and his counterintelligence unit provided Israel with technical support for constructing nuclear weapons. He strenuously denied the charges, insisting the CIA had never played any role in providing Tel Aviv with nuclear materials. However, when questioned about whether “Israeli intelligence efforts” were ever conducted in the US “aimed at acquiring… nuclear technology,” Angleton equivocated. First, he blustered, “there have been many efforts by many countries to acquire technical knowledge in this country, and that doesn’t exclude the Israelis.” Asked if CIA counterintelligence had “certain knowledge” of Israeli agents “trying to acquire nuclear secrets in the US,” Angleton pleaded, “Do I have to respond to that?” The Committee then went “off record” at the senators’ request, making Angleton’s responses impossible to scrutinize. In a secret 1975 memorandum to the FBI, the ousted CIA counterintelligence chief disclosed that he had “avoided any direct answers” during his Senate testimony on Israel’s spies carrying out “intelligence collection” to gather “nuclear information” in the United States. Just days later, a Bureau report on “Israeli intelligence collection capabilities” revealed Angleton entertained “frequent personal liaison contacts” with Mossad representatives at Israel’s Washington DC embassy between February 1969 and October 1972.

“ISRAELI MATTERS” TRIGGER ANGLETON’S DOWNFALL: The Church Committee files show Angleton bristled at then-CIA Director William Colby’s efforts to apply a modicum of transparency to the Agency’s activities, especially as they related to Israel. The spymaster warned that if the USSR ever caught wind of Langley’s use of the self-proclaimed Jewish state as a de facto halfway house for communist turncoats, they would almost certainly end their policy of encouraging Eastern European Jews to migrate to Israel. Colby fired Angleton in 1974 after the New York Times revealed that he devised an illegal program of domestic spying targeting antiwar American dissidents. In his testimony, Angleton framed their clash as an interpersonal conflict, describing Colby as “not my cup of tea professionally or in any other way.” Yet Angleton also acknowledged to Senate that a “dispute in connection with these Israeli matters” between himself and Colby contributed to his departure from the Agency. Was this a reference to the former spook’s involvement in Israeli theft of US nuclear secrets, enabling Israel to acquire the bomb? Whatever the case, it was clear why Angleton would be remembered more fondly in Israel than inside the country he ostensibly served. On December 4, 1987, the director of Israel’s Mossad and Shin Bet intelligence services gathered in secret on a hillside in Jerusalem to plant a tree in honor of Angleton. They were joined there by five former Israeli spy chiefs and three former military intelligence officers. Despite attempts to keep the ceremony under wraps, two local reporters managed to evade the cordon to record the ceremony for the former CIA counter-intelligence director, who had died seven months prior. Together, the Israeli spooks laid a memorial stone that read, “In memory of a dear friend, James (Jim) Angleton.” Kit Klarenberg is an investigative journalist exploring the role of intelligence services in shaping politics and perceptions. Wyatt Reed is an editor at The Grayzone.

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MODI TURNS TO ASIA AMID US TARIFF STRAIN

NEW DELHI ageNcies

NDIAN Prime Minister Narendra Modi headed overseas on Thursday to meet the leaders of China, Japan and Russia, seeking to build closer diplomatic ties as New Delhi battles fallout from US President Donald Trump’s escalating tariff offensive. By drawing nearer to some of the world’s largest economies, including his first visit to China in seven years, Modi hopes to to boost support for his flagship “Make in India” initiative, mainly from Japan, as Trump’s measures spur new partnerships. “This will be an opportunity to launch several new initiatives to build greater resilience in the relationship, and to respond to emerging opportunities and challenges,” Foreign Secretary Vikram Misri said of the Japan visit. While New Delhi says it is relying on talks to resolve Trump’s additional tariffs of up to 50% on Indian exports, Japan’s top trade negotiator cancelled a US visit over a snag in the two nation’s tariff deal.

Friday, 29 August 2025 | islAmAbAd

Ryosei Akazawa was due to fly to Washington to craft a written confirmation of the terms of the package, such as the split of investment returns between US and Japan but canceled last minute on Thursday. Modi’s visit to Japan slated for Friday and Saturday gains significance as both belong to the Quad grouping, along with Australia and the United States, which seeks to counter China’s growing influence in the Indo-Pacific region. The Quad, officially the Quadrilateral Security Dialogue, is a group of four countries: United States, Australia, India, and Japan that ensures and sustain an open, free and prosperous Indo-Pacific region Despite strained ties with Washington, India said Modi and Japanese Prime Minister Shigeru Ishiba would discuss expanding cooperation within the framework of the regional security grouping. Japanese companies are set to invest up to 10 trillion yen ($68 billion) in India in the next decade, public broadcaster NHK said, as Suzuki Motor pledged to pump in about $8 billion over the next five to six years.

The two nations were partners ‘made for each other’ Modi said this week, after visiting a Suzuki plant in India. Their leaders are expected to discuss tieups on critical minerals and Japanese invest-

ments in high-value manufacturing in India, officials said. India is believed to hold substantial deposits of rare earths, used in everything from smartphones to solar panels, but lacks the technology to mine and process

China urges Philippines to stop ‘hyping up’ issues concerning maritime aﬀairs BEIJING

MiaN abrar

A Chinese Foreign Ministry spokesperson on Thursday urged the Philippines to immediately stop “hyping up” issues concerning maritime affairs between the two countries, and cease any infringing and provocative acts that may complicate the current situation. Spokesperson Guo Jiakun made the remarks in response to a question about a spokesperson for the Philippines’ maritime council, who stated that the Philippines will not stop its routine resupply mission at Ren’ai Jiao in the South China Sea. Ren’ai Jiao is part of China’s Nansha Qundao and has always been China’s territory, Guo said. He stressed that the activities of Chinese vessels in waters under its jurisdiction are legitimate and beyond reproach. The Philippines has “grounded” a warship there for a long time, which violates China’s sovereignty and the Decla-

ration on the Conduct of Parties in the South China Sea. This action also violates Article 5, which stipulates that no settlement activities should be carried out on

uninhabited islands and reefs, he said. “China has long demanded that the Philippines tow away the military vessel and restore Ren’ai Jiao to its original

state of hosting no personnel or facilities,” Guo said. Guo said that, in a show of goodwill, China has long maintained a provisional humanitarian arrangement with the Philippines. Under this deal, the Philippines can transport living necessities, provided it does not transport construction materials, informs China in advance, and after on-site verification has been conducted. However, the Philippines has recently taken a series of actions that infringe upon and provoke tensions at sea. These acts have infringed upon China’s territorial sovereignty and maritime rights and interests, jeopardized marine peace and stability, and undermined the political foundation for China and the Philippines to handle maritime issues properly. China’s position on safeguarding its territorial sovereignty and maritime rights and interests is unwavering, Guo said. He urged the Philippines to stop all infringing acts immediately.

Zohran Mamdani, rapper turned NYC mayoral frontrunner, embraces diverse roots NEW YORK

News Desk

Born in Uganda to Indian parents, Zohran Mamdani, a former rapper, is now the leading candidate in New York City’s upcoming mayoral election. His heritage, which blends different cultures, could resonate with the city’s diverse population. Mamdani first stepped into politics in 2020 when he won a seat in the state assembly, representing Queens, New York’s borough with the largest Indian community. Despite his political career, his music background still plays a part in his public identity. He lists “self-employed rapper” as one of his jobs in his financial disclosures and still earns royalties from his music under the names Young Cardamom and Mr. Cardamom. During his early music career, Mamdani performed alongside his childhood friend Hussein Abdul Bar at a 2016 music festival in Uganda. He later contributed to the soundtrack of the Disney movie Queen of Katwe, which was directed by his mother, Mira Nair. In his music, Mamdani often celebrates his roots, rapping in both English and Luganda. One of his songs references a flatbread popular in both India and East Africa, showcasing his cultural blend. In addition to his music career, Mamdani’s diverse background is reflected in his unconventional campaign. He once featured Indian culinary icon Madhur Jaffrey in a music video, where Jaffrey rapped alongside him in a street food truck. Despite his past in music, Mamdani has remained committed to his democratic socialist views throughout his political journey. His campaign continues to embrace his unique background and his roots in both music and culture. Mamdani’s candidacy is seen as a refreshing and authentic approach by those who admire his openness and dedication to his heritage.

them extensively. INDIA, CHINA RAPPROACHEMENT Modi next travels to China for a twoday summit of regional security bloc Shanghai Cooperation Organisation from Sunday. His visit comes as the neighbours strive to defuse tension following deadly border clashes in 2020. He is expected to meet both Chinese President Xi Jinping and Russian President Vladimir Putin for two-way talks. China and India seek to resume direct flights after a gap of five years and are discussing easing trade barriers, including reopening border trade at three Himalayan crossings. India is also considering easing investment rules that put greater scrutiny on Chinese companies, while Beijing recently agreed to lift curbs on exports of fertilisers, rare earth minerals and tunnel boring machines to India. The meeting comes against the backdrop of Washington’s long-held desire for the world’s largest democracy to act as a counterweight to China, which analysts say could offer New Delhi leverage in the effort to secure lower tariffs.

Punjab health minister attends UGIs’ Inter-School National Song Competitions LAHORE

staff report

Punjab Health Minister Khawaja Imran Nazir participated as the chief guest in the annual Inter-School National Song Competitions of the Unique Group of Institutions (UGIs) here on Thursday The event was presided over by Chairman Unique Group Professor Abdul Manan Khurram, and attended by prominent personalities, including singers Israr Shah and Sahar Gul. Speaking on the occasion, Khawaja Imran Nazir said that students are the bright future of Pakistan, and extracurricular activities such as national song competitions instill confidence and discipline in them. He stressed the need for youth to use social media positively, promote constructive thinking, and fulfill their responsibilities to contribute to the revival of the country’s economy Prof Abdul Manan Khurram, in his address, said Pakistan is the identity of every citizen, and true love for the homeland lies in playing an active role in the nation’s progress and development. He highlighted that the Unique Group consistently provides platforms for co-curricular activities, enabling students to excel not only academically but also in creative and cultural fields. The competitions were enthusiastically participated by students across various campuses. Maria Ali (Classes 3–5) of Unique School 111-112 Campus, secured the first position in the junior category, while Hassan Zaidi (Classes 6–8) of Faisal Town Campus and Mah Noor (Classes 9–12) of Samanabad Campus bagged the first positions in their respective categories. Other winners included students from Rizwan Garden, Wapda Town, and Samanabad campuses.

At least 25 dead in Afghanistan bus crash KABUL

News Desk

A bus overturned on a highway near Kabul, leading to Kandahar, on Wednesday, killing at least 25 people and injuring 27 others, authorities reported. The crash was caused by the driver’s negligence, according to Abdul Mateen Qani, a spokesperson for Afghanistan’s interior ministry. The injured individuals are being treated in hospitals, though the severity of their injuries has not been specified. This incident follows another deadly crash in Afghanistan, where 78 people were killed in a road accident last week. Traffic accidents are common in Afghanistan due to poorly maintained roads, dangerous driving, and a lack of regulations, a legacy of decades of conflict.

Friday, 29 August 2025 | ISLAMABAD

CORPORATE CORNER

Nestlé Pakistan supports NDMA with 300,000 liters of clean drinking water for flood affected vulnerable communities LAHORE

staff report

Nestlé Pakistan has completed donations of 200,000 liters of clean drinking water, in the first phase to support vulnerable communities affected by the devastating floods in Khyber Pakhtunkhwa and Gilgit Baltistan, following National Disaster Management Authority’s (NDMA) calls for flood relief efforts, and has pledged an additional 100,000 liters for districts in Punjab. Acknowledging Nestlé’s contribution Lt Gen Inam Haider Malik, Chairman NDMA, said, “I would like to thank Nestlé Pakistan for their immediate and urgent support in this hour of need. We are optimistic that with a generous contribution from our long-term partners like Nestlé Pakistan, we will be able to provide relief to the flood victims in these pressing times.” Highlighting the efforts, Jason Avanceña, Chief Executive Officer Nestlé Pakistan said, “Access to clean drinking water is the biggest concern for communities displaced by flooding across Khyber Pakhtunkhwa, Gilgit Baltistan and Punjab and that’s where we are focusing the bulk of our efforts,” he said, adding, “together Nestlé is committed to be a force for good for flood-affected vulnerable communities and supports the efforts of NDMA in these times of crisis.” Nestlé mobilized 200,000 liters of water through the NDMA and district administrations in Buner, Swat, Swabi, Shangla, Bajaur, Gilgit and Skardu to support them in relief work for the people and the communities affected by this natural calamity. As NDMA issued flood alerts for Punjab, Nestlé also initiated mobilizing 100,000 liters of water for affected areas in Punjab.

Soneri Bank announces Half Yearly Results KARACHI

staff report

The Board of Directors of Soneri Bank Limited, in their 211th meeting held in Karachi on 27 August 2025, approved the Bank’s condensed interim financial statements for the half year ended 30 June 2025. The results reflect consistent and sustained performance despite declining spreads. The Bank posted a profit before tax (PBT) of Rs. 6,685 million and profit after tax (PAT) of Rs. 2,497 million for the half year ended 30 June 2025, compared to Rs. 6,519 million and Rs. 3,216 million respectively in the corresponding period last year. Earnings per share (EPS) stood at Rs. 2.2648 per share for the current reporting period, compared to Rs. 2.9171 for the prior period. The decline was primarily due to additional taxation on banking companies introduced through the Income Tax (Amendment) Ordinance, 2024, which resulted in an effective tax rate of 62.65 percent (30 June 2024: 50.67 percent). The Bank’s net interest income improved to Rs. 14,259 million from Rs. 11,934 million in the corresponding period last year, reflecting strong growth of 19.5 percent, driven by improved business volumes. Non-interest income was recorded at Rs. 3,556 million compared to Rs. 3,606 million in the prior period, showing a marginal decline of 1.4 percent, mainly due to reduced FX related income. However, this was offset by higher digital banking income and trade related commissions, supported by improved trade business volumes. Consequently, the overall revenue of the Bank increased by Rs. 2,275 million, or 14.6 percent compared to the same period last year. Nonmarkup expenses were reported at Rs. 11,280 million for the current half year, against Rs. 9,343 million for the comparative prior period. Despite high inflationary pressures and ongoing branch expansion drive, expenses growth was contained at 20.73 percent owing to strict cost rationalization measures and prudent cost control policies. Continuing its strategic footprint expansion, the Bank is now operating with a network of 572 branches (31 December 2024: 544 branches). Customer deposits grew by 16.6 percent over 31 December 2024, reaching Rs. 633,379 million as of 30 June 2025.

Engro Holdings half year results ended June 2025 KARACHI

staff report

Engro Holdings Limited, previously Dawood Hercules Corporation Limited (PSX: ENGROH), announced its financial results for the half year ended June 30, 2025. OVERVIEW OF FINANCIAL PERFORMANCE For the half year ended 30th June 2025, on a consolidated basis, the Company’s consolidated Profit-After-Tax (PAT) stood at PKR 73,318 million (PAT attributable to shareholders: PKR 35,575 million) with an EPS of PKR 29.54 in 2025 vs PKR 8.09 in 2024. The increase primarily arises from reversal of previously recognized impairment during 2023 and 2024, linked to the thermal energy assets, which were previously classified as “held for sale”. Excluding this one-off impact, consolidated PAT stood at PKR 19,562 million (PAT attributable to shareholders: PKR 9,002 million). On a standalone basis, the Company reported PAT of PKR 67 million against PKR 4,176 million in the same period last year, translating into an EPS of PKR 0.06 versus 8.68 in 2024.

NEWS 07

CM MARYAM INSPECTS RAVI FLOODS, VOWS FULL RELIEF IN FACE OF DEADLY DELUGE

LAHORE

staff report

UNJAB Chief Minister Maryam Nawaz on Thursday visited the Ravi River at Shahdara, where she boarded a boat to personally inspect the flood

situation. Speaking to the media after her visit, the chief minister said that Punjab had witnessed weeks of severe and continuous rainfall, pushing water levels in all three major rivers to dangerous limits. “I have never seen so much water in the Ravi River. Our rivers were under immense pressure. Had we [Punjab government] not prepared in time, the damage could have been catastrophic,” she remarked. A heavy flow of water is expected to pass through Ravi Bridge in Shahdara after India released floodwaters. The officials said that nearly 200,000 cusecs of water is likely to pass through the Ravi at Shahdara by Wednesday afternoon. During her visit, the chief minister received a detailed briefing from officials on the latest flood conditions and precau-

tionary measures being taken to safeguard nearby populations. Chief Minister Maryam praised the local administration and rescue teams, noting that no lives were lost due to administrative negligence. She said more than 50,000 people along with a large number of livestock had been relocated to safer areas, while relief and recovery remained a top priority of her government. “Water is a blessing, but without proper storage systems and drainage planning, we remain vulnerable. I have directed all departments to present concrete plans on how floodwater can be stored and managed in the future,” she added. Earlier, CM Maryam Nawaz had also accompanied Prime Minister Shehbaz Sharif on an aerial survey of flood-affected districts, where both leaders were briefed on the extent of the damage and ongoing rescue operations. 12 KILLED IN PUNJAB’S ONGOING FLOODS Meanwhile, Punjab Senior Minister Marriyum Aurangzeb confirmed that 12 people have lost their lives in the ongoing floods. She stressed that no deaths had oc-

curred due to negligence, pointing out that rescue operations, particularly boat evacuations, were in full swing. She said around six to seven people were rescued from debris, while food supplies are being distributed in relief camps. Nearly 200,000 livestock have also been shifted to safe areas along with their owners. “Citizens must avoid flood-hit areas and refrain from taking selfies or photos near water channels,” she cautioned. Au-

rangzeb praised the tireless efforts of rescue workers, noting that many had worked for three to five days without rest, and also thanked the media, elected officials, and ministers for supporting the efforts. PUNJAB POLICE ON HIGH ALERT On the other hand, Punjab Inspector General of Police Dr Usman Anwar directed District Police Officers (DPOs), including Lahore’s, to remain on high alert amid the flood emergency.

Driving Digital Transformation: CDC Integrates RAAST Aggregator with AKD Securities KARACHI

staff report

The Central Depository Company of Pakistan (CDC) has onboarded AKD Securities Limited to its RAAST Aggregator Platform, enabling investors to transfer funds instantly and securely. This strategic integration, implemented with support from Microlinks (Pvt.) Limited, represents another stride in CDC’s mission to promote digitalization, transparency, and efficiency across Pakistan’s capital market. The formal signing ceremony took place at CDC House, where Mr. Badiuddin Akber, Chief Executive Officer of CDC, and Ms. Hina Junaid Dhedhi, Chairperson of AKD Securities, affixed their signatures to the agreement. The implementation is now live, allowing customers of AKD Securities to take benefit from this service. Under this system, CDC generates a unique RAAST Investment ID in IBAN format for each investor sub-account. Once registered as a beneficiary in the investor’s bank, funds can be transferred directly into the broker’s client account. Transactions are completed in real time—ensuring funds are available for trading within minutes.

BOK reports outstanding half-yearly financial results for 2025

Commenting on the occasion, Mr. Badiuddin Akber said, “By extending the RAAST Aggregator to AKD Securities, CDC is redefining standard practices in investor fund transfers—ensuring transactions are not only immediate and secure but also intuitive, reliable, and responsive to evolving market needs.” Reflecting on the partnership, Ms. Hina Junaid Dhedhi remarked, “AKD Securities is honored to partner with CDC in this landmark initiative. As Chairperson, I am committed to championing solutions that deliver convenience and confidence to investors. This RAAST integration is another step in that journey.” During the ceremony, the AKD Securities team was also briefed on CDC’s Asaan Connect product; an onboarding tool to simplify KYC for capital market, which was appreciated by Ms. Hina Junaid Dhedhi. She reaffirmed AKD’s commitment to work jointly with CDC on future initiatives aimed at enhancing investor facilitation and strengthening Pakistan’s capital market. Onboarding AKD Securities marks another installation in CDC’s series of broker integrations, aimed at boosting investor convenience, advancing digital empowerment, and reinforcing trust across Pakistan’s capital market infrastructure.

PESHAWAR

staff report

The Bank of Khyber (BoK) is delighted to announce a remarkable leap in its financial performance, reflecting the Bank’s robust business momentum, strong governance, and unwavering commitment to value creation for its stakeholders. For the half year ended June 30, 2025, BoK achieved a Profit Before Tax (PBT) of Rs. 7,194 million, doubling from Rs. 3,481 million in the corresponding period of 2024. Similarly, Profit After Tax (PAT) surged to Rs. 3,365 million, up from Rs. 1,551 million a year earlier. This impressive growth is the result of disciplined financial management, a sharpened focus on innovation, and continued trust placed in BoK by its valued customers and partners. In recognition of this performance and in line with its commitment to reward shareholders, the Board of Directors has declared an interim cash dividend of Rs. 1.5 per share (15%) for the half year ended June 30, 2025. Commenting on the results, Mr. Hassan Raza, Managing Director & CEO of Bank of Khyber, stated: "This outstanding performance stands as a testament to the resilience of our business model, the dedication of our teams, and the growing confidence of our customers. At BoK, we are determined to go beyond numbers — we are shaping a bank that embodies innovation, inclusivity, and service excellence.

Wafi Energy Pakistan unveils financial results for H1 2025

KARACHI (staff report): The Board of Directors of Wafi Energy Pakistan Limited (WEPL) announced half year results for the company. The company reported a profit after tax of PKR 1.28 billion compared to a profit after tax of PKR 1.32 billion in the same period last year. The Board also in-principle authorized management to explore potential investment and acquisition opportunities in the oil marketing sector, including assessing the feasibility and viability of such ventures. During this period, the oil and gas sector remained stable, helping contain the import bill. In this environment, WEPL maintained its profitability, supported by stable motor fuel sales and growth in premium fuels and lubricants. In the Lubricants business, operated under the Shell brand, sales in the consumer segment were boosted by the agricultural season, while the industrial segment saw growth through partnerships with Atlas Honda, Hyundai, and Suzuki. Initial supplies to Reko Diq and a contract with Sindh Engro supported growth in the mining sector. Additionally, a key industry event showcased Shell’s technology leadership, and the supply chain secured competitive sourcing of base oils.

Pakistan’s PostEx Named to Forbes Asia’s Prestigious ‘100 to Watch 2025’ List

In a landmark achievement for Pakistan’s startup ecosystem, PostEx, the country’s leading hybrid logistics and fintech company, has been featured in the Forbes Asia 100 to Watch 2025 list under the Finance category. This coveted recognition places PostEx among Asia’s most dynamic growth companies and signals Pakistan’s rising footprint on the global innovation map. “This milestone is not just a win for PostEx, it’s a win for Pakistan,” said Muhammad Omer Khan, CEO of PostEx. “It reflects the relentless passion of our team and our mission to empower merchants and accelerate Pakistan’s digital economy. We are proud to showcase Pakistan’s innovative spirit to the world.” Founded in 2020, PostEx set out to solve one of the biggest challenges in Pakistan’s cash-dominated economy: delayed payments for online sellers. By offering upfront cash to merchants and collecting payment on delivery, PostEx has enabled thousands of e-commerce businesses to manage cash flow, scale faster, and unlock new opportunities.

MD SNGPL advises to mobilize special teams to address flood emergency LAHORE

staff report

On the instructions of the Managing Director Sui Northern Gas, the Company has constituted special emergency response teams to deal promptly with any situation arising from the recent flood conditions across the country. With the forecast of high-level flooding in the Ravi, Sutlej and Chenab rivers, Sui Northern Gas field staff have has placed on round-the-clock alert in Lahore, Narowal, Sialkot, Gujrat, Hafizabad, Bahawalpur and adjoining areas. Continuous monitoring is being carried out to safeguard the gas infrastructure and ensure smooth gas supply to the consumers. As a precautionary measure, gas supply in areas affected by flooding may be temporarily suspended if required to prevent any risk to life or property.

PTCL group continues to achieve double digit growth ISLAMABAD

staff report

HBL, in partnership with Mastercard, launches business debit cards to empower Pakistan’s SMEs KARACHI

staff report

HBL has joined hands with Mastercard in launching its Business Debit Card designed exclusively for SMEs - sole proprietors and entrepreneurs. Two card variants have been launched, Classic and World Business Debit Card. This initiative marks a major stride in the Bank’s commitment to enable Pakistan’s businesses with innovative financial solutions and accelerating the shift towards a cashless Pakistan economy. With over 5 million SMEs contributing nearly 40% to the national GDP and employing one-third of the country’s workforce, the need for sustained investment into the SME sector is essential for Pakistan’s economic prosperity. HBL has played a leading role in enabling this segment by becoming the first bank to surpass PKR 100 billion in SME lending. HBL also remains the pioneer of non-collateralized lending and ensuring increased access of credit to SMEs. The Bank remains committed in empowering SMEs with financing solutions and contributing directly to Pakistan’s GDP. The Business Debit Card is a payment solution which ensures that SMEs can manage their day-to-day transactions, in a more seamless and convenient manner. HBL remains the largest issuer of debit cards in Pakistan, and the launch of the business debit card rep-

resents its commitment to financial inclusion and a digitized ecosystem across all customer segments. The launch event, held at HBL Tower, Karachi, on 27 August 2025, was attended by Muhammad Nassir Salim, President & CEO - HBL, Aamir Kureshi, Head, Products, Transactional Services & Solution Delivery HBL, and J.K. Khalil, Division President, East Arabia Mastercard, along with senior leaders from both institutions.“The Government of Pakistan and the State Bank continue to emphasize SME growth as a driver of economic stability, innovation, and employment. HBL stands aligned with this vision. By equipping SMEs, sole proprietors, and entrepreneurs with the means to transact securely and seamlessly, HBL is supporting the national agenda of enabling businesses to grow, formalize, and contribute to Pakistan’s economic progress.”

Pakistan Telecommunication Company Limited (PTCL), the country’s leading telecom and ICT services provider, has announced financial results for the half year ended June 30, 2025 (HY), at a Board of Directors meeting held in Islamabad. PTCL Group recorded 16% revenue growth, maintaining its position as Pakistan’s premier integrated telecom services provider. FINANCIAL HIGHLIGHTS • Group revenue increased by 16% on YoY basis, driven by strong growth in fixed broadband, mobile data, enterprise, and carrier wholesale services. • PTCL revenue grew by 12% YoY, led by 62% growth in Flash Fiber and 15% growth in Business Solutions compared to the same period last year. • Carrier and Wholesale business maintained its momentum with 18% growth. The international segment also recorded a YoY revenue increase of 10%. • PTCL’s operating profit reached Rs. 7.9 billion, up 38% over HY 2024 and posted a net loss of Rs. 3.3 billion primarily due to one-off adjustment of additional pension liability as ordered by the Honorable Supreme Court of Pakistan. • Ufone 4G posted YoY topline growth of 17%, demonstrating resilience across commercial and operational areas. • Sustained topline growth, together with ongoing cost optimization initiatives, enabled Ufone to deliver a strong EBIT of Rs. 7.6 billion compared to Rs. 0.7 billion in HY 2024.

DAR, GERMAN FM DISCUSS ‘MUTUALLY BENEFICIAL’ TIES AS BERLIN RESUMES AFGHAN RELOCATION PROGRAMME

Friday, 29 August, 2025

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OVER 2,000 AFGHANS STRANDED IN PAKISTAN SET TO MOVE AFTER BAN LIFTED ISLAMABAD

stAff report

EPUTY Prime Minister and Foreign Minister Ishaq Dar received a phone call from German Foreign Minister Dr Johann Wadephul on Wednesday night, the Foreign Office said on Thursday. The FO statement said both leaders reaffirmed their commitment to strengthening “mutually beneficial cooperation” and emphasized the importance of maintaining high-level contacts. Regional developments also came under discussion.

Power Division makes significant progress in restoring electricity to flood-hit areas ISLAMABAD

AhMAD AhMADAni

The Ministry of Energy (Power Division) reported substantial progress in restoring electricity supply to flood-affected regions, with dozens of feeders and several grid stations already re-energized. Full restoration is expected in the coming days, as distribution companies (DISCOs) work around the clock to bring power back to millions of households impacted by severe flooding in Punjab and Khyber Pakhtunkhwa. According to the latest update, various districts under Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), Peshawar Electric Supply Company (PESCO), and Tribal Electric Supply Company (TESCO) had experienced extensive outages earlier in the week due to flooding. However, most feeders have now been re-energized, while others await the recession of floodwaters. FESCO reported that 30 feeders were affected, including several in Chiniot, Jhang, Sargodha, and Mianwali. Many of these feeders have been temporarily restored, with complete recovery expected by late Thursday. GEPCO also made significant progress, with 42 feeders fully restored and additional work expected later Thursday. In LESCO’s jurisdiction, some areas, including Lahore and Kasur, are still partially restored, while in MEPCO, 50 feeders in southern Punjab remain affected, with restoration contingent on receding floodwaters. PESCO faced the worst disruption, with 12 grid stations and 91 feeders offline in Khyber Pakhtunkhwa. Efforts have been made to restore power across the affected areas, and 71 feeders have been fully restored, with the remaining work expected in the coming days. TESCO reported minimal disruptions with two feeders in North Waziristan, both of which have been restored. The Power Division emphasized that the pace of restoration heavily depends on how quickly floodwaters subside, particularly in lowlying areas where infrastructure remains submerged. Despite significant progress, rural and hard-to-reach areas remain vulnerable to prolonged outages. Electricity restoration following natural disasters has historically been a challenge in Pakistan, with outdated infrastructure and climaterelated risks contributing to significant power outages. While improvements have been made in response times, officials stressed that the coming days remain critical in ensuring full restoration.

The telephonic conversation coincided with Germany’s decision to lift a suspension on the entry of Afghan nationals, a move that directly impacts thousands stranded in Pakistan. According to German authorities, around 2,000 Afghans approved for relocation—most considered at risk under Taliban rule—had been left in limbo for months after Berlin froze the initiative in an effort to limit migration. The resumption follows mounting legal challenges from advocacy groups and Afghan applicants. The development comes as Pakistan prepares to enforce its September 1 deadline for the expulsion of Afghan

refugees, including some awaiting relocation to Germany, intensifying pressure on Berlin to act swiftly.

SPANISH SENATOR CALLS ON DPM/FM ISHAQ DAR: Separately, Spanish Senator Vicente Azpitarte Pérez called on Ishaq Dar in Islamabad on Thursday. The two discussed enhancing cooperation in political, economic and cultural spheres, with a particular focus on strengthening parliamentary exchanges. Senator Pérez extended an invitation to Dar to visit Spain, which the deputy PM welcomed, appreciating the senator’s efforts to promote bilateral linkages.

New floods hit Pakistan while 2022 aid pledges largely unfulfilled ISLAMABAD

Monitoring report

As fresh flash floods sweep across Khyber Pakhtunkhwa, Gilgit-Baltistan and Punjab, Pakistan’s ambitious recovery agenda from the 2022 deluge faces major setbacks, with less than 20% of pledged international aid actually delivered. A Post-Disaster Needs Assessment (PDNA) had estimated the 2022 floods caused $14.9 billion in damages, $15.2bn in losses, and required $16.3bn for recovery. The Resilient Recovery, Rehabilitation, and Reconstruction Framework (4RF), launched in late 2022, became the basis of Pakistan’s appeal to donors at the Geneva Conference in January 2023, where $10.9bn was pledged. Three years on, only about $3.4bn worth of projects have been executed. The bulk of commitments remain tied

to multilateral institutions:

World Bank: $2.1bn in projects initiated. n ADB: Operationalised nearly a third of its pledge. n Islamic Development Bank: Just $600m for flood response, while $3.6bn redirected to commodity financing. n AIIB: Minimal, mostly budgetary support. n Saudi Fund for Development: $1bn earmarked for oil imports, not recovery. This reduces effective recovery financing to around $6bn — barely a third of the pledges. Bilateral aid is also lagging: Paris Club countries pledged $799m, but only 14.6% has been disbursed as of August 2024. France and Japan have led disbursements, while Germany and n

Italy have yet to make meaningful contributions. Crucially, allocations remain uneven. Agriculture and livelihoods — which suffered the deepest blows and underpin GDP and employment — have received under $200m, or just 4.5% of assessed needs. Infrastructure projects, by contrast, continue to draw concessional loans, while social sectors such as health, governance, and inclusion depend on scarce grants. With the World Bank estimating $348bn required over the next seven years for climate and development challenges, experts warn Pakistan is locked in a cycle of underfunded recovery, mounting climate risks, and rising social vulnerability. Images of submerged villages, ravaged farmland, and displaced families once again underscore the urgency of global climate accountability.

Federal govt seeks provincial data on deforestation amid worsening climate crisis PESHAWAR

Aziz Buneri

The federal government has asked all provinces to urgently submit updated data on tree cutting, citing alarming deforestation trends that are worsening Pakistan’s climate crisis. The directive was issued through the Special Investment Facilitation Council (SIFC), which has instructed Punjab, Sindh, Balochistan, Khyber Pakhtunkhwa, Gilgit-Baltistan, and

ISLAMABAD news Desk

Pakistan Tehreek-e-Insaf (PTI) on Thursday announced it would suspend all political activities across the country to concentrate on relief efforts for flood-hit communities in Punjab, where torrential rains and upstream water releases from India have triggered devastation. In a statement, PTI Central Information Secretary Sheikh Waqas Akram accused India of committing “water aggression” by unilaterally suspending the Indus Waters Treaty and halting vital data exchange. He termed the release of excess water into Pakistani rivers a “deliberate act of water terrorism” and urged the government to raise the issue at international fo-

Azad Jammu and Kashmir to provide five years of consolidated provinciallevel data for review. According to officials, the data will help the country’s top decision-making forums assess the scale of deforestation, evaluate damage caused to forests and wildlife habitats, and chalk out future action plans. The Ministry of Climate Change, following SIFC’s directions, has formally written to provincial governments, asking them to share the details “without delay” so the

matter can be placed before the federal forum in time. Officials emphasized that uncontrolled tree cutting in recent years has not only reduced forest cover but also destabilized the climate balance, leading to extreme weather patterns, flash floods, soil erosion, and other devastating natural disasters. The SIFC clarified that the data request is part of a broader climate protection and environmental resilience strategy being pursued under the council’s mandate.

CCD ‘encounter’ leaves two Raiwind murder case suspects dead, lawyer says LAHORE

Monitoring report

Two men accused in the brutal killing of two brothers over a dispute with fruit vendors in Raiwind were shot dead in what police described as an “encounter” with the Crimes Control Department (CCD), the victims’ lawyer said on Thursday. The case had sparked outrage after a video widely circulated on social media showed street vendors wielding clubs and repeatedly assaulting the brothers in public. One of the victims died on the spot from severe torture wounds, while the other succumbed to his injuries the following Sunday. According to Ali Ahmed Awan, the lawyer representing the victims’ father, six suspects were nominated in the case. Three had been arrested, including the main accused. He said two of those arrested — Owais and Shahzad — were later killed in a police operation. “The CCD claimed they were shot during an encounter after their accomplices attempted to attack the police,” Awan told a local media outlet. The department, he added, is still pursuing the remaining suspects. Notably, no separate case has yet been filed regarding the alleged police encounter, the lawyer said. A first information report (FIR) was registered on August 22 at Raiwind City Police Station on the complaint of the victims’ father under Sections 147 (punishment for rioting), 149 (unlawful assembly) and 302 (murder) of the Pakistan Penal Code. The FIR stated that the incident occurred on August 21 at around 5:45pm when the brothers, returning home, stopped at a fruit cart. “Due to a dispute over money, the owner of the fruit cart and his brother began beating my sons and called some other people,” the complainant said in the FIR. The clash, allegedly sparked by Rs30, quickly escalated into a fatal assault, now under investigation.

PTI suspends political activity for flood relief, blames govt’s negligence and India’s actions

rums, seek revival of the treaty, and demand compensation for damages. Waqas also castigated the Sharif-led government for what he described as “criminal negligence” in disaster preparedness, despite repeated warnings of heavy monsoon rains and possible water inflows from India. He said the administration had failed to implement timely flood mitigation measures, leaving communities vulnerable. The PTI spokesperson further criticized Punjab Chief Minister Maryam Nawaz’s overseas trip to Japan and Thailand at a

time when “her province was battling disaster,” calling it wasteful and tone-deaf. He also cited Finance Minister Muhammad Aurangzeb’s admission that Pakistan had failed to prepare viable flood-related projects despite securing $11 billion in pledges at the Geneva Conference in 2023. Accusing the government of incompetence, Waqas stressed that agriculture and livelihoods remained at risk as floodwaters threatened areas along the Sutlej, Ravi, and Chenab rivers. He said PTI had instructed its organizational

Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited. Ph: 051-2204545. Email: newsroom@pakistantoday.com.pk

units at all levels to mobilize resources and assist victims. Reiterating PTI’s position on foreign policy, Waqas said Pakistan should shift away from relying on India and instead deepen ties with regional partners such as China, Iran, Afghanistan, and Central Asian states. The PTI leader also condemned what he called the “inhumane imprisonment” of party founder Imran Khan and his wife Bushra Bibi, claiming both were kept in prolonged isolation and denied basic rights.