PM URGES IMF TO FACTOR IN RECENT FLOOD DEVASTATION DURING UPCOMING REVIEW
g SAYS OUR ECONOMY SHOWING POSITIVE SIGNS OF STABILIZATION WITH DEEP-ROOTED STRUCTURAL REFORMS IN PLACE, THANKING IMF FOR ITS ROLE IN REFORM EFFORTS
g
g PM MEETS WB PRESIDENT, WELCOMES NEW CPF TO PROVIDE $40B FOR PAKISTAN
YORK/ISLAMABAD
R t Prime Minister Shehbaz Sharif on Wednesday exchanged pleasantries with US President Donald Trump during the Arab-Islamic Summit in New York, where leaders from the United States, the Arab League, and the Organization of Islamic Cooperation (OIC) jointly called for an immediate ceasefire in Gaza and a comprehensive plan for its reconstruction The brief interaction between PM Shehbaz and President Trump was marked by a warm handshake and candid conversation Deputy Prime Minister and Foreign Minister Ishaq Dar was also present Officials described the exchange as cordial and reflective of Pakistan s efforts to maintain constructive engagement with Washington Prime Minister Shehbaz attended the Arab-Islamic Summit hosted by President Trump and the Amir of Qatar Sheikh Tamim bin Hamad Al Thani On the
rocal steps to address the full spectrum of challenges in Afghanistan D a r u r g e s Ka b u l t o t a ke ‘ c o n c r e t e a n d v e r i f i a b l e ’ m e a s u r e
Our law enforcement officials and civilians continue to make enormous sacrifices due to terrorism emanating from Afghanistan Earlier this month, 12 Pakistani soldiers were martyred in our bordering regions while combating TTP infiltrators the FO quoted the FM as
saying to the
a statement issued by the Foreign Office (FO) on Wednesday
R N O V E M B E R
s ta f f r e p o r t Oil & Gas Development Company Limited (OGDCL) Pakistan s largest exploration and production firm, has reported five new oil and gas discoveries, spudded 15 wells in 2025, and secured seven new exploration blocks in the latest bid round The company’s Board of Directors reported that its average net saleable production included 30 919 barrels of oil per day (BPD), 652 million standard cubic feet per day (MMSCFD) of gas, and 642 metric tons per day (MTD) of LPG These figures solidified OGDCL’s position as the leading contributor to national output However, the company noted that production could have reached
higher levels 32 709 BPD of oil 743 MMSCFD of gas, and 714 MTD of LPG had SNGPL not curtailed offtake from several key fields including Nashpa Qadirpur and Bettani and reduced demand from Uch Power had not limited offtake from the Uch Field OGDCL s key development projects, such as the commissioning of the Jhal Magsi Field and ongoing compression work at Dakhni KPDTAY and Uch are expected to support future production growth Additionally diversification efforts in ventures like Reko Diq, the Abu Dhabi Offshore Block-5, and geothermal energy projects are reinforcing long-term expansion
The company is also advancing its Production Optimisation Plan for mature fields particularly in Rajian
Fimkessar Missakaswal and Toot Furthermore, OGDCL has made progress in its Tight Gas program and finalized designs for Phase-2 horizontal frac jobs in its Shale Gas Pilot Project
In line with its commitment to sustainability OGDCL has strengthened its corporate governance framework, incorporating Environmental, Social, and Governance (ESG) and Diversity Equity and Inclusion (DEI) principles across its operations
The company s transparency in corporate reporting was reaffirmed in the Transparency in Corporate Reporting (TRAC) 2024 assessment by Transparency International Pakistan where it ranked third overall with a score of 93 09% and first among public sector entities
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PM urges IMF to fac tor in recent flood devastation during upcoming review
CONTINUED FROM PAGE 01
He expressed gratitude for the IMF’s timely support through various instruments including the Stand-By Arrangement of $3 billion for FY 2024 the Extended Fund Facility (EFF) of $7 billion, and the Resilience and Sustainability Facility (RSF) of $1 4 billion, the PID reported “Today with deep-rooted structural reforms in place Pakistan s economy is showing positive signs of stabilization and is moving towards recovery, the Prime Minister said He also thanked the IMF for its instrumental role in guiding the government’s economic reform efforts the PID added According to a report by Topline Securities Pakistan is on track to meet all seven Quantitative Performance Criteria (QPC) set by the IMF ahead of the Sep-
Saudi
tember 25 review of its $7 billion Extended Fund Facility (EFF) approved in May this year The review will assess Pakistan’s performance for the March–June quarter of 2025 However unprecedented floods this year have battered both rural heartlands and industrial centres causing billions of dollars in damage straining food supplies, hitting exports, and undermining fragile signs of recovery Pakistan had been optimistic about 2026 forecasting 4 2 per cent growth on the back of a rebound in farming and manufacturing after stabilisation under the IMF bailout Instead record monsoon rains since late June, intensified by dam releases from India, have submerged large areas of Punjab and Sindh Officials and analysts warn the current losses may prove even deeper than those of 2022 when a third of the country
was under water as agriculture and manufacturing both face simultaneous shocks
A GEOGLAM report estimates at least 220,000 hectares of rice fields were flooded between August 1 and September 16 while Punjab’s Provincial Disaster Management Authority reported 1 8 million acres of farmland inundated
According to the PID statement Georgieva expressed sympathy for floodaffected communities, stressing the importance of a comprehensive damage assessment to guide recovery priorities She also commended PM Shehbaz’s commitment to sound macroeconomic policies and reiterated the IMF s continued support as Pakistan advances reforms for sustainable growth Meeting with World Bank president: Separately, PM Shehbaz also met World Bank (WB) Group President Ajay Banga and praised the bank s support to Pak-
President of the World Bank Group, Ajay Banga, on Wednesday emphasized the bank’s readiness to continue supporting economic reforms and long-term initiatives on climate resilience under the new Country Partnership Framework (2026–2035) for Pakistan
Banga met with Pakistan s Prime Minister Shehbaz Sharif on the sidelines of the 80th Session of the United Nations General Assembly He praised Pakistan’s ongoing reform measures and reaffirmed the Bank’s commitment to Pakistan’s development agenda The Prime Minister apprised the World
president on the government s comprehensive reform agenda which includes
mobilization
reforms, privatization, and efforts to build resilience against
PM
to attract significant investment
expressed appreciation for the World Bank’s unprecedented commitment of $40
Pakistan under the
CPF (2026–2035) and reaffirmed his government s commitment to ensuring its effective implementation in close coordination with provincial governments He also highlighted that the reform agenda had led to macroeconomic stabilization, restored investor confidence and promoted sustainable and inclusive economic growth
The Prime Minister praised Ajay Banga s leadership in transforming the World Bank into a faster more efficient, and impactful development partner, with a renewed focus on simplifying operations and mobilizing private sector resources He also commended the Bank’s long-standing support to
Dar urges Kabul to take ‘concrete and verifiable’ measures to curb terror groups
CONTINUED FROM PAGE 01
He reiterated Pakistan s commitment to supporting efforts for a peaceful and prosperous Afghanistan, but underscored that progress required “mutual respect, sincerity and the political will by the Taliban authorities to help us help themselves ” No country desires to see normalcy and stability return to Afghanistan more than Pakistan Our destinies are intertwined and it is imperative to secure an Afghanistan that is at peace with itself and its neighbours, he said Dar also expressed condolences over last month’s
Afghanistan s isolation cannot continue indefinitely As OIC members, regional partners and neighbours, we must take initiatives to help Afghanistan break out of this cycle ” he urged
Outlining a six-point approach Dar said: The OIC should advocate adequate humanitarian funding by donors without political conditions Stabilise the Afghan economy and banking system to enable trade, invest-
ment, and regional connectivity projects Support dialogue with the Taliban at regional and multilateral levels to encourage compliance with international obligations Back UN-led efforts for alternate livelihoods for ex-poppy farmers to promote sustainable agriculture Urge the Taliban to lift restrictions on women and girls, which he termed unjustified and contrary to Islamic principles ” Encourage conditions for the dignified return of Afghan refugees, with the international community sharing the burden of resettlement He stressed that with peace gradually returning to Afghanistan the OIC must play a proactive role in helping the country integrate into the regional and global fold for lasting stability, teh FO statement added
CONTINUED FROM PAGE 01
The order explained that while immunity shields judges in the exercise of their judicial and administrative functions it does not absolve them from accountability Misconduct cases, however, fall exclusively under Article 209 and can only be pursued by the SJC “Sub-article (7) of Article 209 bars any other forum from inquiring into misconduct against a judge of the Supreme Court or a high
S u p p o r t p r i c e t o c o m e b a c k ?
The federal government wants the wheat MSP back , but will the IMF agree?
H
TAroobA YounAs
I T H the usual theatrics frenzied headlines in the Indian media in July 2025 claimed that India has developed a missile far deadlier than BrahMos They were referring to the Extended Trajectory Long Duration Hypersonic Cruise Missile (ET-LDHCM) that saw its daylight launch test in midJuly 2025 Just like the BrahMos the Indian officials have described the ET-LDHCM as a gamechanger; however this assertion remains debatable The ET-LDHCM is part of India s Project Vishnu–a classified project led by the Defence Research and Development Organisation (DRDO) aimed at developing indigenous hypersonic weapons The development of this putative hypersonic capability was hailed by India s Defence Minister Rajnath Singh as a historic moment for India as it places the country in league with the elite group of nations possessing indigenous long range hypersonic missiles capabilities ET-LDHCM has an alleged range of 1500 km which can be extended to 2500 km; is able to fly at Mach 8 because of its scramjet engine; withstand high temperatures up to 2000C; and carry conventional and nuclear warheads weighing up to2000kg There are also claims that ET-LDHCM has mid-flight manoeuvrability and stealth capabilities which lower radar detectability Similar hubris filled statements were issued for BrahMos Rajnath Singh termed it as not only a weapon but a message of Indian armed forces’ strength deterrence against enemies and commitment to safeguard Indian borders Similarly Sivathanu Pillai the father of BrahMos remarked that it cannot be intercepted by an enemy in the next 20 years The May 2025 Indo-Pakistan conflict effectively nullified the Indian claims According to some media reports, most of the BrahMos fired by India were downed by Pakistan through soft kills– demonstrating the Indian system s inefficiencies At least one BrahMos became battlefield debris when it was successfully intercepted and shot down by the Pakistani air defence system over Jacobabad Moreover, there was a marked difference in the advertised and actual capabilities of BrahMos At most, it reached the speed of Mach 1 6 during the conflict and displayed inaccuracies in its targeting The timing of the ET-LDHCM test after the May 2025 conflict is also significant Given India s humiliating defeat at the hands of the Pakistan Air Force (PAF), it is probable that India is posturing by enhancing its other complementary capabilities, of which hypersonic missiles are an integral part Nevertheless it has been contended by Ankit Panda the Stanton Senior Fellow in the Nuclear Policy Program at the Carnegie Endowment for International Relations that the ET-LDHCM test is more of an evolu-
I n d i a ’ s d e f l a t e d ‘ H y p e r s o n i c ’ d r e a m s
tionary step’ than a gamechanger In particular the hype received by hypersonic missiles is termed misguided by various analysts because their cost is disproportionate to their meagre advantages Elsewhere, it has been argued that they do not bring any significant military advantages and are rather mediocre This is because despite claims of stealth, these weapons are easily detectable due to high infrared signals produced by high speed An example is the Russia–Ukraine theatre It saw Ukraine downing the Kinzhal Russian hypersonic missile in 2023 with the help of the US Patriot missile defence system This shattered the invincibility lore associated with hypersonic weapons In close geographical proximity, high-speed weapons are even more ineffective This is because shorter distance translates into shorter flight times for all types of missiles making adversarial neighbours prepared to counter air threats in both peace and war times A case in point is the night of 9 March 2022 when PAF was able to pick up and track India s accidentally” fired BrahMos missile 104 kn inside Indian territory The supersonic missile was continuously tracked by PAF until it entered Pakistan s airspace and crashed near
A d a n g e r o u s w h i t e w a s h o f t e r r o r
Pa k i s t a n b l a s t s M a h r a n g B a l o c h’s N o b e l n o m i n at i o n
Torchestrated by
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ers
with
this nomination is not a recognition of peace but a reward for disruption, propaganda, and bloodshed As the saying goes, “to call a wolf a sheep does not change its fangs ” Diplomatic observers note that Frydnes director of the PEN organization has long been associated with circles sympathetic to Indian-sponsored narratives on Balochistan His
nomination of Mahrang Baloch they argue is no accident; it is a political strike disguised as humanitarianism, designed to internationalize separatist rhetoric while erasing Pakistan’s enormous sacrifices in the global fight against terror In the eyes of Islamabad This is not a blunder of naiveté but a deliberate provocation carefully calibrated to undermine the nation s resilience And what of Pakistan s record? It speaks louder than words Over 94,000 lives have been lost in the relentless battle against terrorism soldiers teachers laborers students and ordinary civilians who refused to bow to the forces of destruction Landmark operations Zarb-e-Azb Radd-ul-Fasaad and Sarbakaf were not symbolic skirmishes but sweeping, decisive campaigns that dismantled militant networks, reclaimed vast territories, and restored fragile order These victories came at a staggering cost both human and economic yet they transformed Pakistan from a bleeding battlefield into a bulwark of resilience To overlook these sacrifices while rewarding someone aligned with those who sought to glorify terrorists is more than unjust; it is, in Pakistani eyes, an insult written in bold letters across the graves of its martyrs Indeed the international community has not been blind to Pakistan s ordeal The United Nations has consistently acknowledged the country s role as a frontline state in the war against terror US commanders, including General John Nicholson, publicly described Pakistan as a “phenomenal partner ” citing its crucial role in degrading groups like ISKP TTP and Al-Qaeda The European Union and British officials too have repeatedly highlighted Pakistan s unmatched human and financial sacrifices, recognizing that few nations have paid such a heavy price in the global campaign for peace These affirmations make Frydnes’ move all the more paradoxical: while the world lauds Pakistan s sacrifices he chooses to glorify an individual tethered to narratives of violence This controversy also raises urgent questions about the integrity of international insti-
tutions The Nobel Peace Prize has long stood as a symbol of reconciliation moral authority and global conscience But if lobbying political gamesmanship, and propaganda-driven activism dictate nominations, the credibility of the Prize risks being hollowed out from within What message does it send when individuals connected even indirectly to extremist agendas are elevated as champions of peace ? Does it not trivialize the suffering of millions across Pakistan who have endured decades of terror? To borrow an idiom, if you dance with the devil, you cannot expect to lead the waltz of peace ” For Pakistan the implications are sober-
episode not as an isolated misstep but
part
its internal affairs, wrapped in the deceptive
Pakistan has demonstrated its commitment to democracy women’s
Fragile internet lifeline
The Pakistani people stand united. They reject the nomination of Mahrang Baloch, denounce the hypocrisy of her sponsors, and reaffirm their trust in their armed forces and institutions. The message to the world is unambiguous: Pakistan will not allow foreign-sponsored agendas to eclipse its sacrifices, nor will it permit its sovereignty to be compromised by hollow gestures masquerading as peace
TAriq KhAn TAreen
Th A I L A n D has a new prime minister, and with him, another chapter in the country s endlessly looping political drama On September 5, Anutin Charnvirakul took the oath of office ending weeks of crisis that saw the collapse of Paetongtarn Shinawatra s government his rise was not the product of a sweeping electoral mandate or a decisive reform agenda It was, instead, a triumph of opportunism carefully timed, ruthlessly pragmatic, and deeply illustrative of the enduring patterns of Thai politics
At 58 Anutin is no stranger to power he is a seasoned insider born into wealth raised in proximity to politics and skilled at manoeuvring through the minefields of Thailand s polarized landscape For more than two decades, that landscape has been dominated by a bitter contest: on one side, the populist legacy of former Prime Minister Thaksin Shinawatra beloved by rural voters; on the other the royalist-military establishment determined to keep that populism in check Most politicians have been forced to choose sides Anutin has repeatedly chosen both his career reads like a manual in political adaptation he began in the 1990s aligned himself with Thaksin in the early 2000s survived the 2006 coup by retreating to business returned as leader of the Bhumjaithai Party, and by 2019 was kingmaker to Prayuth Chan-ocha Thaksin s longtime adversary By 2023, he was comfortably seated in a coalition led by Thaksin’s own party serving as deputy prime minister and interior minister now after a scandal forced Paetongtarn from office Anutin has stepped into the top job each shift was not an ideological journey but a strategic calculation Thailand is hardly unique in rewarding such agility history offers plenty of examples where survival demands political flexibility Italy in the post-war era cycled through dozens of governments as parties formed and dissolved coalitions Japan s
I n d i a , C
Liberal Democratic Party mastered internal factionalism as a form of continuity amid constant leadership changes But Thailand’s volatility is distinctive for its fusion of formal democracy informal military veto power and a monarchy whose influence remains politically potent though constitutionally restrained
The episode that brought Anutin to power underscores this volatility Paetongtarn’s offhand comments in a phone call with Cambodian Senate President hun Sen later leaked touched on border tensions and insulted a senior Thai general Public fury followed Constitutional judges moved swiftly, suspending and then dismissing her for ethical breaches The coalition fractured Anutin withdrew his party, resigned from the cabinet and positioned himself as the only leader acceptable to rival factions It was textbook Thai politics: no ideology no new mandate just a rearrangement of power among familiar players To understand what this means for Thailand’s future, it helps to recall the country’s persistent imbalance between civilian governance and military power The armed forces have long claimed a guardianship role sometimes openly through coups and at other times quietly, through institutional leverage The 2025 border conflict with Cambodia only strengthened that hand
During the crisis, the military acted with autonomy in key decisions often bypassing civilian oversight Public opinion surveys show the military remains the most trusted
institution in matters of security, a reflection not only of its capabilities but also of civilian governments’ chronic fragility Anutin is unlikely to challenge that arrangement his own party is conservative pro-monarchy and deeply intertwined with regional patronage networks that rely on military goodwill The current constitutional order (itself the product of post-coup engineering) structurally favors conservative and military-aligned elites Civilian supremacy is for now aspirational rather than real Under Anutin civil-military relations will likely continue as they have: the generals shaping national security and foreign policy from behind the curtain while civilians administer day-to-day governance with limited authority The economic picture is no less complicated The political crisis has rattled investor confidence delayed the 2026 budget and cast doubt on Thailand s ability to pursue major trade negotiations particularly with the USA Analysts warn of slowed GDP growth, hesitant foreign investment, and policy paralysis as coalitions are patched together with more concern for survival than for reform In this respect Thailand risks joining a broader pattern visible in parts of Southeast Asia and beyond: governments consumed by tactical coalition-keeping rather than strategic nation-building nor can one ignore the social consequences The fall of Paetongtarn daughter of Thaksin and once seen as the dynasty’s next standard-bearer signals a possible ebb in the Shinawatra family s long domi-
c a u g h t b e t w e e n a n e l e c t o r a t e t h a t d e s i r e s b o t h s t a b i l i t y a n d c h a n g e ,
i n s
nance Yet it does not resolve the deeper cleavage between rural populism and urban conservatism, between demands for reform and the guardianship instincts of the old elite If anything, it may sharpen them The political centre has not held in Thailand; it has merely shifted temporarily toward a man skilled at navigating its fault lines Mass protests remain the wildcard Thai history teaches that popular mobilization can upend political calculations, but only if it divides or neutralizes the military Research on civil resistance movements worldwide shows that broad nonviolent cross-class coalitions are more likely to succeed in forcing reform or transition Fragmented violent or narrowly partisan protests by contrast tend to invite repression and entrench authoritarian reflexes In Thailand, the military s institutional interests favor stability over democratic experiments Unless protests threaten cohesion within the armed forces or raise the cost of repression beyond tolerable limits the status quo is likely to endure Anutin s own record offers few clues that he intends to be a transformational leader his signature policy achievement (the 2022 decriminalization of cannabis) was bold but poorly regulated leaving the country scrambling to impose safeguards his handling of covid-19 was competent in some respects lacklustre in others marred by sluggish vaccine procurement and defensive public remarks Allegations of electoral manipulation and land-use improprieties around his party circle him like low clouds: not yet storms but persistent signs of the murky po-
i n a a n d U S R e n m i n b i d e b t i n d o l l a r w o r l d
Itential threat to Tibet’s security China insists that nepal uphold the One China Policy and prevent anti-China activities on its soil nepal has repeatedly reaffirmed this principle recognizing Tibet hong Kong Macao and Taiwan as integral parts of China
n nepal, millions of people are still reeling from an anticorruption rebellion led by the country’s urban youth, which ousted the government led by Khadga Prasad Sharma Oli earlier this month Oli s power collapsed within days so quickly in fact that some nepalese now speculate that protesters must have had help from abroad A rare congratulatory message from religious leader Dalai Lama further fueled the debate on social media
Others affirm that the revolution was conducted by the nepalese themselves “The Gen Z campaign is often compared to movements in Bangladesh Sri Lanka or Syria ” Kathmandubased journalist Devendra Bhattarai wrote in a recent column But it must not be forgotten that this is less the result of outside influence, he wrote, and more a revolution born and nurtured by nepali leaders here
Political scientist Sucheta Pyakurel told DW that the government’s ouster was a “revolution of mass frustration” generated by lack of opportunities and cronyism At the same time she also pointed to a correlation between sovereignty and external influence As we lose our grip on both the state institutions and the market with so many youths leaving for jobs abroad external influence naturally grows, she said NEPAL’S INTERNATIONAL BALANCING ACT: nepal, a himalayan nation of nearly 30 million people wedged between India and China has struggled with instability for many years Between the adoption of a new constitution in 2015 and the latest deadly unrest the country has seen eight governments centered around the same three leaders: Oli, of CPn-UML; Sher Bahadur Deuba, of nepali Congress; and Pushpa Kamal Dahal, of CPn (Maoist-Center)
Parts of nepal’s political scene, especially left-leaning and pro-monarchy forces have repeatedly claimed that foreign powers such as India the United States and the european Union are behind nepal s frequent political shifts China has only recently joined this line-up as its traditional image of quiet diplomacy has waned Officially, Kathmandu pursues a nonaligned foreign policy a principle established by King Prithvi, who united modern nepal in 1768 A key element of this policy could be summed up as “friendship with all and enmity with none” to ensure diplomatic and developmental support from all sides especially India and China nepal also views the United States as its third neighbor because of the US s global dominance In turn, India, China and the United States all have genuine stakes in nepal and concerns regarding sudden shifts in the nation’s politics STUCK BETWEEN INDIA AND CHINA: nepal and India enjoy deep cultural economic and security ties India also shares a 1 751-kilometer (1 066-mile)
WESTERN STAKE IN NEPAL: In 2017, nepal joined China’s Belt and Road Initiative (BRI) with the vision of multidimensional trans-himalayan networks connecting two countries including railways roads and digital and energy links nepal s foreign policy is all about its efforts to maintain a delicate balance with all three regional and global powers, Chandra Dev Bhatta, a geopolitical analyst, told DW For Beijing, a stable and peaceful nepal serves two purposes: safeguarding Tibet’s security and rallying smaller states behind China’s global policies ” Bhatta said At the same time Kathmandu also seeks to maintain ties with the US and its allies including the eU Japan South Korea and Australia These nations support nepal s policy frameworks through government-to-government programs and civil society funding Recently, the United States provided a $530 million (€450 million) Millennium Challenge Corporation (MCC) grant to scale up nepal’s energy grids and road infrastructure The MCC is seen as the Western countermeasure to China’s Belt and Road Initiative
HOW CLOSE WAS OLI TO BEIJING? In recent years nepal has moved close to China diplomatically and economically Analysts point to China s apparent preference for nepal s left-leaning parties especially the Maoists and CPn-UML Since Chinese President Xi Jinping’s state visit to Kathmandu in October 2019 left-leaning prime ministers and presidents have repeatedly visited China Just days before the outbreak of deadly protests in nepal then-Prime Minister Oli attended a military parade in Beijing marking the 80th anniversary of China s victory over Imperial Japan During this visit, Oli raised nepal’s concerns about the agreement between India and China to open up economic and pilgrimage routes through Lipulekh Pass a territory nepal has historically claimed On the sidelines he also met with Russian President Vladimir Putin and Indian Prime Minister narendra Modi Also the Chinese side claims that nepal expressed support for the Global Security Initiative (GSI) still a loosely defined idea to form a security bloc spearheaded by China, in what would be a breach of nepal’s neutrality policy however, the nepali side has denied Oli endorsed the GSI
Bhatta said Oli’s strategy of leaning on China was “uncommon Since our engagement is greater with India and the West our strategic tilt toward China could be viewed unfavorably, he said Japan was the first nation to congratulate the regime change in nepal, hinting at Tokyo s displeasure with Oli’s diplomatic course
KARKI’S GOVERNMENT STILL AN UNKNOWN: The interim government led by former Supreme Court Justice Sushila Karki was also warmly welcomed by the international community including India China the US the eU and the Un During a phone call with Karki last week, India s Modi reaffirmed his country s steadfast support for her efforts to restore peace and stability In turn, the Chinese Foreign Ministry said Beijing “respects the development path chosen independently by the people of nepal ” The interim government is currently focused on organizing elections that would see it hand power to an elected cabinet It is therefore too early to predict how the interim leaders would shape ties with global and regional powers Indra Adhikari, a board member of nepal s Policy Research Institute, said there were voices claiming credit for nepal’s political shift in various power corridors She cautioned that “nepal should refrain from deviating from its foreign policy mantra of nonalignment and falling into a geopolitical trap Edited by: Darko Janjevic Lekhanath Pandey is a reporter based in Kathmandu
Wh e n governments borrow on international markets they do so overwhelmingly in US dollars Roughly two-thirds of international debt issuance is denominated in foreign currencies, of which nearly half is in dollars and about 40 percent is in euros The rest is spread across other currencies including the Chinese renminbi While borrowing in hard currency is especially important for developing countries, many advanced economies also benefit from tapping deeper, more liquid markets and a broader pool of investors Thus, in the aftermath of the 2008 global financial crisis when US interest rates hovered near zero dollardenominated borrowing was particularly attractive despite the risk that cheap money could encourage overborrowing and excessive leverage By contrast, US firms and the federal government have long had the privilege of borrowing abroad almost exclusively in their own currency insulating them from exchange-rate risk But now that US policy interest rates are in the 4 25-4 5 percent range, borrowing in dollars is relatively less appealing than it once was Add to this the growing perception of the dollar serving as a geopolitical lever in an increasingly fractured world economy and it is no surprise that some developing countries are experimenting with alternatives With China s benchmark policy rate set at around 1 4 percent, renminbi-denominated debt offers better terms, leading highly indebted countries like Kenya and Sri Lanka to turn to renminbi-denominated loans to ease their debt-service burdens Still this shift remains marginal In the first quarter of 2025 only about 1 percent of international debt issuance was denominated in renminbi, up from 0 5 percent a decade ago Clearly, the dollar is not yet under serious threat For China though the stakes of dollar dominance are high As the world s largest bilateral creditor and the single largest official source of international development finance, it has extended an estimated $1 5 trillion in overseas loans While other creditors such as Singapore also lend in US dol-
M a hoSSain
and the president s deployment of National Guard troops to Democratic-led cities for what he says are crime-fighting missions
The White House did not immediately respond to a request for comment TRUMP WON’T BE SWAYED Despite appearing less engaged on Gaza recently Trump met on the UN sidelines on Tuesday with Saudi Arabia, the United Arab Emirates, Qatar, Egypt, Jordan, Turkey, Indonesia and Pakistan
He was expected to lay out US proposals for post-war governance in Gaza without Hamas involvement and push for Arab and Muslim countries to agree to contribute military forces to help provide security, Axios reported Although Trump has at times expressed impatience with Netanyahu’s
handling of the war, he made clear in his UN speech on Tuesday that he is not ready to back away from strong support for Israel or be swayed by other countries endorsement of Palestinian statehood Such announcements only serve to ‘’encourage continued conflict’’ by giving Hamas a “reward for these horrible atrocities ” Trump said French President Emmanuel Macron addresses the 80th United Nations General Assembly at UN headquarters in New York, U S , September 23, 2025 Photo: Reuters France, Britain, Canada, Australia and others have insisted that recognizing a Palestinian state would help to preserve the prospects of a two-state solution to the long-running conflict between Israel and the Palestinians and help to end the Gaza war While leaders taking the podium at the UN gathering did not directly chastise Trump for his stance some analysts saw a clear message to the US president It all depends on Trump who could end this war with one choice word to Israel s prime minister, said Laura Blumenfeld, a Middle East expert at the Johns Hopkins School for Advanced International Studies in Washington That word she said is enough
The US is Israel s chief arms supplier and historically acts as its diplomatic shield at the UN and other world bodies Last week, the US vetoed a draft Security Council resolution that would have de-
of the occupied West Bank, which might be fueled by anger against the international push for recognition of Palestinian statehood
The most right-wing government in Israel s history has declared there will be no Palestinian state as it pushes on with its fight against Hamas following i t s O c
The
UNJAB
C hairman CDA chairs key meeting with STZ A and CDA officials at headquar ters
S
A meeting was
Zones Authority (STZA) and the relevant officers from CDA The meeting discussed the proposed project for establishing a Special Technology Zone in Islamabad During the briefing, it was informed that 28 Special Technology Zones have been notified across the country, while 141 acres of land have been allocated for the Special Technology Zone in Islamabad The meeting was informed that national and inter-
ISLAMABAD
Speakers at a seminar in the Riphah International University here on Wednesday called for creation of more provinces in the country with the aim of improving administration service delivery The seminar titled “Imagine Pakistan 2030: Challenges, Opportunities and the Way Forward” was organised by the All Pakistan Private Sector Universities of Pakistan and Riphah International University Speaking on the occasion Riphah International University Chancellor Hassan Muhammad Khan said that hard work and determination is the key to success in any sphere of life The institutions are not built in a day and same is the case of Riphah International University and other institutions
BY SANOBAR
g PUNJAB CM VOWS PROTECTION OF ORPHANS, WIDOWS, AND THE POOR FROM ILLEGAL OCCUPATION OF THEIR LANDS
PM SHeHBA z AtteNDS CHINA-leD GDI MeetING,
The Council of Islamic Ideology (CII) on Wednesday clarified that no final decision had been taken yet on the issue of withholding tax on money transfers and withdrawals after the body earlier declared it to be un-Islamic The CII made the earlier decision and others at its 243rd meeting today, presided over by CII Chairman Allama Dr Muhammad Raghib Hussain Naeemi the press release read “The council declared the withholding tax imposed on withdrawal or transfer of money as excessive and declared it unIslamic the press release said As per the Federal Board of Revenue (FBR), withholding tax is an advance payment of tax deducted at the time of economic activities specified under certain sections of the Income
Tax Ordinance, 2001 and Sales Tax
Act 1990
However a clarification issued later read: Regarding today s meeting of the CII there was an impression that the council had formed a final opinion on the withholding tax, whereas in fact, a few members had an initial discussion on it in which the members had different opinions The members said that they would consult experts on this in the next meeting Therefore it was decided that in the upcoming meeting of the council, it should be discussed in detail and the opinions of the relevant experts should be sought The council did not take any decision on the issue under discussion ” As per the earlier press release decisions were also taken on matters including components in insulin made from pork, the amendment of the diyat law (blood money) and keeping copies of the Holy Quran clean after they have
been used for testimony “The council did not agree with the proposed amendment bill [to] the diyat law The council is of the opinion that the Islamic amounts of diyat namely gold silver and camels, should remain included in the law, while the bill has deleted silver and made the un-Islamic amount of gold a standard ” the press release read Separately the [CII] expressed reservations over the decision of a twomember bench of the Supreme Court on September 11, 2025, saying that making iddah and maintenance mandatory for a non-consummated woman in the event of divorce is against the Quran and Sunnah” the press release read In a landmark judgement the Supreme Court ruled that a woman s right to maintenance (Nafaqa) was neither contingent upon consummation or Rukhsati (bridal departure) nor was it subject to her husband’s discretion
PTI activist Falak Javed arrested in Azma Bokhari video case: Law yer
LAHORE s ta f f r e p o r t PTI social media activist Falak Javed Khan has been arrested by the National Cyber Crime Investigation Agency (NCCIA) in a case pertaining to the fake videos of Punjab Information Minister Azma Bokhari being uploaded on social media her lawyer said on Wednesday The PTI alleged that she was arrested in Islamabad last night Her lawyer, Advocate Mian Ali Ashfaq told media that she was arrested in the fake videos case “My team and I will appear in Lahore District Court tomorrow in Falak Javed’s case We will provide full legal assistance in Falak Javed’s case If NCCIA applies for
Falak Javed’s physical remand, we will oppose it The case is being reviewed from all angles ” he said
The Punjab minister had sought action last year in July against the persons involved in sharing her edited images on social media She alleged that Falak edited and spread her images on social media
The minister said a request was made to the Federal Investigation Agency (FIA) under the Peca (Prevention of Electronic Crimes Act) to take action against Falak and others but the agency did not take any action
The minister argued that she had been defamed on social media and that her constitutional rights had been violated In her petition, she asked the court to order the FIA to take action against the respondents and submit a compliance report
