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Pak istan, Indonesia reaffirm deeper strategic par tnership as President Subianto wraps up visit
Marking a milestone in their long-standing relationship, Pakistan and Indonesia on Tuesday reaffirmed their commitment to substantially expand political, economic defence and cultural cooperation as Indonesian President Prabowo Subianto concluded his two-day official visit to Islamabad at the invitation of Prime Minister Muhammad Shehbaz Sharif, with both sides pledging a forward-looking partnership aligned with regional stability economic growth and people-centric development In a joint statement issued at the end of the visit both sides said the trip carried special significance, coinciding with the 75th anniversary of diplomatic relations between the two brotherly nations
President Prabowo held delegation-level talks with Prime Minister Shehbaz Sharif met President Asif Ali Zardari and was also called on by Chief of Defence Forces Field Marshal Syed Asim Munir President Zardari conferred the Nishan-e-Pakistan, the country s highest civilian award, on the visiting dignitary in recognition of Indonesia’s longstanding friendship with Pakistan The leadership of the two countries noted that bilateral ties predate their independence and reaffirmed their resolve to build on this historic foundation by adopting a forwardlooking agenda Both sides reviewed the full spectrum of relations and agreed to deepen collaboration across political diplomatic economic trade security defence cultural education scientific and health sectors
Bilawal
rules out more Constitutional changes, says ‘two amendments are enough’
LAHORE S ta f f r e p o r t Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari on Tuesday firmly opposed any further constitutional amendments, declaring that the 26th and 27th amendments passed earlier this year were sufficient and that “no room” remained for additional changes in the current parliamentary term Speaking to senior journalists in Lahore, Bilawal stressed that the Constitution was not a document to be altered repeatedly His remarks come amid intensifying speculation over a proposed 28th Constitutional Amendment fuelled in part by state-
ments from Prime Minister s Adviser on Political and Public Affairs Rana Sanaullah, who has publicly hinted that the government intends to table the amendment soon Bilawal s resistance carries significant political weight While the Pakistan Muslim League-Nawaz (PML-N) commands a simple majority in the National Assembly with 131 seats, it still depends on the PPP’s support to reach the two-thirds majority 224 votes required for any constitutional amendment The ruling coalition also includes lawmakers from the MQM-P, PML-Q, IPP and several smaller parties, along with independent members, while the opposition holds 89 seats In the Senate
the government similarly needs a two-thirds majority 64 votes to pass any amendment The ruling alliance currently controls 61 seats compared to the opposition’s 35
The proposed 28th Amendment is said to focus on education population management and local government reforms, according to Sanaullah’s earlier statements ‘Make South Punjab a province first’
Addressing the long-standing debate over new provinces Bilawal said that before any further proposals were considered the resolution already passed by the Punjab Assembly for creating a South Punjab province should be implemented
Punjab Assembly passes resolution seeking ban on PTI for ‘anti-state’ activities
and insisting that Imran was “not a security threat”


The Directorate General of Customs Valuation, Karachi, has issued new Customs values for 11 medical items imported from China, revising the assessment rates used to calculate duties and taxes
The adjustments were notified through Valuation Ruling No 2030 of 2025 which re-determines Customs values for Alcohol Swabs/Pads Heparin Caps Nebulizer and Oxygen Masks Nasal Oxygen Cannulas/Tubes 3way Stopcocks (with and without tubes), Spinal Needles, Aneroid devices, Disposable Skin Staplers, ECG Electrodes and 3-ball Spirometers
The revised values will not apply to international brands such as Omron Rossmax Certeza Beurer Citizen Accu-Chek Accusure and B Braun even when manufactured in China
In its order, the Director General instructed the valuation directorate to conduct a fresh assessment within four weeks, using the valuation methodology outlined in Section 25 and consulting all stakeholders
Following the directive notices were issued and stakeholders including importers participated in meetings to reconsider the values Importers submitted documents and proposed values, including two additional items they requested be re-evaluated after the previous

smuggling and safeguard the public from dangerous narcotics


90-day period had lapsed Customs authorities stated that valuation methods based on identical or similar goods could not be applied due to limited comparable import data Market surveys under Section 25(7)
inapplicable, as
was
under
facturers
cost data from the exporting country was unavailable Ultimately the directorate determined Customs values under Section 25(9) read with




the destruction of numerous enemy tanks and significantly altered the course of the battlefield In the midst of this heroic effort he embraced shahadat after being struck by enemy fire, leaving behind a legacy of unmatched devotion, duty, and patriotism Sowar Muhammad Hussain Shaheed’s sacrifice continues to stand as a symbol of steadfast resolve and an enduring reminder of the commitment of Pakistan s Armed Forces to defend the nation s sovereignty at all costs His courage inspires generations of soldiers who remain ready to uphold the security and dignity of the motherland As the nation pays heartfelt tribute to this gallant son of Pakistan, we reaffirm our collective resolve to honor the sacrifices of all our martyrs heroes whose bravery selflessness and unwavering dedication illuminate the path for a stronger and secure Pakistan
in SBP debt in five months of
n e w s D e s k
Government borrowing from the State Bank of Pakistan (SBP) stayed in negative territory during the first five months of FY26, as Islamabad continued to retire central bank debt and rely on commercial banks to meet its financing requirements
The federal government retired Rs877 23 billion between July 1 and November 28 2025 compared with net borrowing of Rs32 billion in the same period last year During the same five months, the government raised Rs115 4 billion from scheduled banks whereas a year earlier it had repaid Rs1 681 trillion to them
Analysts said the trend reflects ongoing fiscal consolidation and adherence to the SBP Act s prohibition on central bank borrowing They noted that a record budget surplus and disciplined cash-flow management enabled early repayment According to Finance Ministry adviser Khurram Schehzad the government s approach supports policy credibility and will create fiscal space for development social protection, and growth-enhancing priorities For budgetary support specifically Islamabad retired Rs804 69bn during July–November down from Rs2 166tr in the same period last year The country recorded a 1 6% of GDP fiscal surplus (Rs2 1tr) in July–September FY26, compared to 1 7% in the corresponding quarter of FY25, largely due to substantial SBP profits of Rs2 42tr from large open-market operation positions
Despite the improved fiscal balance, revenue performance remained strained The Federal Board of Revenue collected Rs3 835 trillion in July–October, falling short of its Rs4 108tr target by Rs274bn mainly due to lower domestic sales tax receipts Year-on-year however collections were up 12% Meanwhile, bank credit to the private sector remained subdued Lending during July–November amounted to Rs186 81bn sharply lower than the Rs1 3tr extended in the same period last year despite improved financial conditions and signs of economic recovery Officials and analysts say the borrowing pattern underscores the government’s focus on reducing dependence on SBP financing while managing fiscal pressures amid weak revenue mobilisation
question regarding the possibility of a ban on PTI and the imposition of governor ’s rule in Khyber-Pakhtunkhwa said “As a political worker I do not support that any party should be banned or that governor s rule should be imposed But she continued considering the state of affairs the PTI is pushing us to go in that direction On the one hand, KP remains most afflicted by terrorism, the police their remain understaffed; they do not yet have a Crimes Control Department (CCD) and police do not have the necessary equipment ” she said
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The prime minister assured the Indonesian president that Pakistan would work closely with Indonesia to achieve these targets and accelerate mutually beneficial initiatives During a ceremony for signing several Memoranda of Understanding (MoUs) PM Shehbaz highlighted agreements to promote cooperation in culture, medical health, education, and vocational training reaffirming Pakistan’s commitment to the “brotherly nation ” He announced that Pakistani doctors dentists medical professors, and experts would assist Indonesia, which is currently establishing a large number of medical colleges and universities “I assure you that whatever is possible for us in this regard we will do it without any delay and with great pleasure the premier said Historic Relations and Shared Values
PM Shehbaz reflected on the long-standing ties between the two nations noting that relations predate Pakistan s independence He recalled that Quaid-e-Azam Muhammad Ali Jinnah supported Indonesia s independence movement while serving as president of the All India Muslim League The prime minister also lauded Indonesia’s unwavering support during the 1965 war with India calling it a rock-solid stance that has gone into the annals of history in golden words and will be remembered by the people of Pakistan for all times to come ” Highlighting Indonesia’s consistent support for Gaza and the Palestinian cause PM Shehbaz expressed appreciation for its role in halting bloodshed in the region By the grace of God bloodshed has stopped; however, Israel s ceasefire violations continue It is high time that we put our heads together to end this bloodshed once and for all ” he said The premier expressed optimism that the Pakistan-Indonesia
bond would continue to grow in strength, depth, and vision, noting that President Subianto’s visit would take bilateral relations to a much higher level He stressed that both countries are committed to working together for progress and peace in the region Nishan-i-Pakistan Conferred on President Subianto At a formal ceremony at the Aiwan-i-Sadr President Asif Ali Zardari conferred the Nishan-i-Pakistan, Pakistan s highest civil award, on President Subianto The investiture ceremony was attended by Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir air force and navy chiefs federal cabinet members and other dignitaries
During their bilateral meeting, Presidents Zardari and Subianto discussed historic ties, shared values, and the long-standing foundations laid by Quaid-e-Azam Jinnah and then-Indonesian President Sukarno



WI T H the International Monetary Fund s Board of Directors giving approval on Monday, the decks have been cleared for the dispersal of Rs 1 2 billion to Pakistan being a $1 billion tranche under the Extended Fund Facility of $7 billion, and a $$200 million tranche under the Resilience and Support Fund programme of $1billion
It was the second review of the EFF and the first of the RSF At the beginning of this EFF, Prime Minister Shehbaz Sharif had announced that it would be the last It is now about midway through the three year programme and it should have started to be discernible whether or not the economy is going to be on track for this The main issue is whether the country has got a pathway to avoiding the sort of crisis that forces it to turn to the IMF for a bailout
If one examines what forces Pakistan to turn to the IMF, it has been its difficulties in servicing its foreign debt While the IMF shakes its head and calls for Pakistan to carry out reforms it seems to have left vague the method by which increased foreign exchange generation is to take place The reforms are supposed to develop a virtuous cycle, where Pakistan piles up foreign exchange Actually all that is happening is that the IMF ensures that Pakistan is capable of paying off its creditors, including the IMF It issues a sort of Seal of Good Housekeeping which means only that the country is able to access the global money markets In short, incur more debt, which we are then going to have to service, at some stage going cap in hand to the IMF to tide us over There is the possibility that the IMF’s reform proposals are wrong I short, that the IMF doesn t know its economics Still, its proposed reforms are economic orthodoxy because Mr Sharif asked a British academic to make proposals (on which the URAAn proposals are based), and he came up with something very much like what the IMF proposed The Finance Ministry clearly does not have its economic theory right or the country would not be in the situation it is Maybe the IMF has got its economics wrong, because it does not show the path by which the country can get itself out of the debt trap it finds itself in Perhaps the government should see what happens if it carries out the reforms recommended, which start with businessmen and; arge landlords paying their fair whack

Dedicated to the legac y of late Hameed Nizami Arif Nizami (Late) Founding Editor
M A Niazi Editor Pakistan Today Babar Nizami Editor Profit

US voters attitudes towards the Israeli Palestinian conflict have changed, but media commentators and political consultants haven’t figured that out They are stuck in the past with outdated assumptions about the electorate and as a result continue to operate from an old playbook A feature article in last week s Washington Post Ones to Watch as the 2026 Midterm Races Kick Into Gear provides the best evidence of just how out of touch the analysts are The piece featured six races Post writers deemed worth watching next year One of the highlighted races was Arab American Dr Abdul El-Sayed’s bid for the Democratic nomination for the Senate seat from Michigan After describing El-Sayed s unapologetic progressivism that is, he supports Medicare-for-all and raising taxes on billionaires, and has been endorsed by Senator Bernie Sanders the author delivers this blow:
“His views on foreign policy are perhaps his most controversial He has called Israel’s actions in
aid to Israel with only 13 percent wanting to see an increase in such aid Among Democrats the decrease/increase ratio is 58 percent to 4 percent Among Independents it s the almost the same Is Israel committing genocide? Among all voters, 44 percent say yes and 28 percent say no Among Democrats the ratio is 68 percent “yes” and just 8 percent “no ” And among Independents it’s 45 percent to 19 percent Other polls show voters affirming that they are more likely to support candidates who advance such positions and less likely to vote for those who defend Israeli policies and want to maintain current levels of military aid to Israel The obvious conclusion one can draw from this data is that candidates who take positions like those supported by El-Sayed are not at all controversial In fact they are a part of the new American mainstream As if to provide further evidence of this shift with less than a year before the midterm elections, it s striking to note that more than two dozen congressional candidates have already declared their intent to reject PAC contributions from pro-Israel groups This includes three sitting members of Congress all of whom have previously been strong supporters of Israel and have in previous elections been the recipients of millions of dollars from pro-Israel sources including PACs and dark
established just how extensive the changes in attitudes are The most recent and comprehensive of these polls of US public opinion was conducted by The Economist in August 2025 Here s some of what they found: • 43 percent of voters favor decreasing military
As we get closer to the 2026 midterm elections, we can expect more candidates to publicly distance themselves from Israeli policies. We can also expect that pro-Israel groups will panic and up the ante by pouring tens of millions into defeating candidates who are critical of Israel. My sense is that this may backfire because in 2026 what will be controversial are Israeli policies and pro-Israel campaign contributions, not the opposite . The sooner the analysts, consultants, and media figure that out, the better our politics will be .
Countries that have reduced preventable deaths from Turkey to Malaysia, did so by recognising safety as a core governance responsibility rather than a discretionary public service

























