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PTI continues sit-in after PM VOWS TO ‘ELEVATE’ BILATERAL TIES WITH UAE TO denied meeting with ‘MUTUALLY BENEFICIAL ECONOMIC PARTNERSHIP’ Imran Khan at Adiala Jail Wednesday, 31 December, 2025 | 10 Rajabul Murajjab, 1447
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PREMIER SHEHBAZ MEETS PRESIDENT SHEIKH MOHAMED BIN ZAYED AL NAHYAN AT SHEIKH ZAYED PALACE IN RAHIM YAR KHAN
LEADERS HIGHLIGHT STRONG HISTORICAL, CULTURAL, AND DIPLOMATIC BONDS, VOWING TO BOOST BILATERAL TRADE ‘THROUGH A QUANTUM JUMP’
PM APPRECIATES UAE FOR HOSTING 2.1 MILLION PAKISTANIS AS TALKS FOCUS ON IT, ENERGY, MINERALS, AND DEFENCE COOPERATION
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Rs 20.00 | Vol XVI No 176 | 8 Pages | Islamabad Edition
RAHIM YAR KHAN staff report
RIME Minister Shehbaz Sharif on Tuesday reaffirmed his determination to “elevate” Pakistan’s longstanding ties with the United Arab Emirates (UAE) into a “strategic and mutually beneficial economic partnership,” according to a Prime Minister’s Office (PMO) statement. Premier Shehbaz was talking with UAE President Sheikh Mohamed bin Zayed Al Nahyan during a meeting at Sheikh Zayed Palace in Rahim Yar Khan on Tuesday, the PMO said. The meeting followed President AlNahyan’s first official visit to Pakistan last Friday, during which the leaders held “substantive talks” aimed at further strengthening the deep-rooted fraternal relations between the two countries.
PM Shehbaz, accompanied by Deputy Prime Minister and Foreign Minister Ishaq Dar, Information Minister Attaullah Tarar, and other officials,
“carried forward discussions” from the December 26 visit, the PMO said. The prime minister emphasized the need for both countries to actively pur-
sue a significant increase in bilateral trade “through a quantum jump which will bring it to the desired level.” The two leaders also explored avenues to enhance cooperation across a wide range of sectors, including information technology, energy, minerals, and defence. “While expressing his great admiration for the UAE’s remarkable progress under His Highness’s dynamic and visionary leadership, the prime minister thanked the UAE president for his patronage and commitment to foster stronger ties between the two countries,” the statement read. PM Shehbaz also appreciated the UAE for hosting 2.1 million Pakistanis, highlighting their crucial role in strengthening bilateral ties. The meeting capped off a year of extensive leadership-level engagements between Pakistan and the UAE.
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Dar, Saudi counterpart discuss ‘current regional situation, developments’ in telephonic call: FO ISLAMABAD
staff report
Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday held high-level discussions with his Saudi, exchanging views on the regional situation, bilateral cooperation, and recent developments, underscoring
Pakistan’s commitment to strengthening strategic, economic, and defence ties with its key strategic partner, according to a Foreign Office statement. The FO statement said that in a telephone call with Saudi Foreign Minister Prince Faisal bin Farhan, Dar discussed “the current regional situation and recent developments.” Both sides highlighted the multifaceted
relationship between Islamabad and Riyadh, rooted in strategic military cooperation, shared economic interests, and common Islamic heritage, besides Riyadh remains a key source of financial aid and energy supplies for Pakistan.
CONTINUED ON PAGE 03
RAWALPINDI
staff report
PTI leaders and former prime minister Imran Khan’s sisters were once again denied permission to meet him at Adiala Jail on Tuesday, prompting them to stage a sit-in near the prison as the party accused authorities of defying court orders allowing twice-weekly meetings with the jailed PTI founder. On March 24, the Islamabad High Court (IHC) issued an order mandating that meetings with Imran Khan be permitted twice a week—on Tuesdays and Thursdays. However, the PTI maintains that the order is not being implemented. Party leaders and supporters have repeatedly staged sit-ins outside the jail to press for access, some of which were dispersed using water cannons. Speaking to media persons at the protest site, Aleema Khan said that she and her sisters would continue the sit-in and would not leave until they were allowed to meet their brother. She also praised Khyber Pakhtunkhwa Chief Minister Sohail Afridi, saying the size of his entourage during his recent visit to Punjab should not be the focus. “What should be gauged is how afraid the Punjab government was of Sohail Afridi and supporters of Imran Khan,” she said, alleging that roads, food streets and other areas were blocked during the visit. “Despite this, the people of Lahore proved that they truly support Imran Khan,” she added. Aleema termed it “unfortunate” that authorities continued to deny meetings with the PTI founder. Responding to a question on dialogue, she said that the Tehreek Tahafuz Ayeen-i-Pakistan (TTAP) had not sought talks with the government, adding that Prime Minister Shehbaz Sharif had extended the invitation. “However, on the instructions of Imran Khan, who has directed Sohail Afridi to begin preparations for a movement, we are on the roads,” she said, adding that she and her sisters would persist in demanding a meeting. PTI Secretary General Salman Akram Raja said it was a basic human right for prisoners to meet their family members and condemned what he described as Imran Khan’s “solitary confinement”. Raja said the party was aware that the meeting might not be allowed but added that PTI leaders would continue visiting the jail to protest and convey their message of support. Replying to a question, he said talks with the government would be meaningless under the current circumstances, as the authorities were “not showing any seriousness”. Imran Khan, who has been imprisoned since August 2023, is serving a sentence at Adiala Jail in the £190 million corruption case and also faces pending trials under the Anti-Terrorism Act related to the May 9, 2023 protests.
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FBR OUTLINES SAFEGUARDS FOR TAX-EXEMPT IMPORTS INTO GILGIT-BALTISTAN
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PROFIT
STAFF REPORT
HE Federal Board of Revenue on Monday sought to allay concerns raised by traders and business bodies over the proposed non-levy of federal taxes on goods imported for exclusive consumption in GilgitBaltistan, saying a robust and technologydriven mechanism has been put in place to prevent misuse and protect the interests of traders in the rest of the country. In a statement, the FBR said GilgitBaltistan enjoys a special constitutional status, under which key federal tax laws — including the Sales Tax Act, 1990, the Income Tax Ordinance, 2001, and the Federal Excise Act, 2005 — have not been extended to the territory. In view of this status and representations from the GB government and local traders, the federal government agreed
that imports through the Sost Dry Port meant solely for consumption within GilgitBaltistan would not be subject to these taxes at the import stage. However, to ensure fiscal discipline and prevent diversion of tax-free goods to other parts of the country, the FBR said a strict annual ceiling of Rs4 billion has been imposed on such imports. Under the arrangement, the Government of Gilgit-Baltistan will allocate trader-wise quotas for tax-exempt imports, with the cumulative limit not exceeding the approved cap. Pakistan Customs has developed a dedicated module within the WeBOC system to register, debit and monitor these quotas in real time. Once a trader’s quota is exhausted, the system will automatically block further tax-free imports and applicable taxes will be charged in accordance with the law. The FBR said the GB government has formally committed to ensuring that goods
imported under the exemption regime are used strictly within the territory. In addition, Pakistan Customs has devised enforcement measures to prevent the movement of exempted goods from GilgitBaltistan to other regions. Any violation of the agreed framework, including diversion of tax-free goods, will invite strict penal action, the statement said. Such measures include cancellation of trader quotas, confiscation of goods and, where necessary, reduction of the overall exemption limit. The FBR clarified that while sales tax, income tax and federal excise will not be levied on eligible imports for GB consumption, all applicable customs duties will continue to be collected, as the Customs Act, 1969 stands extended to Gilgit-Baltistan. These include customs duty, regulatory duty and additional customs duty on all imports cleared through the Sost Customs Station.
Reiterating its position, the FBR said the exemption regime was a targeted facilitation measure aimed at supporting the people and economy of Gilgit-Baltistan,
Pakistan’s headline inflation expected at 5.75–6.25pc in December 2025: report g
TOPLINE PAKISTAN RESEARCH PROJECTS INFLATION IN THE SECOND HALF OF FY26 IS EXPECTED TO AVERAGE AROUND 9% PROFIT
STAFF REPORT
Pakistan’s headline inflation is expected to ease further in December 2025, with the Consumer Price Index (CPI) projected in the range of 5.75 to 6.25 per cent year-on-year, according to Topline Pakistan Research. In its latest outlook, the brokerage firm said December inflation would come in lower than the 6.15% recorded in November 2025, though higher than the 4.07% in December 2024. On a monthon-month basis, inflation in December 2025 is expected to decline by 0.18pc. For the full calendar year 2025, infla-
tion is projected to average 3.54%, marking the lowest annual inflation reading in a decade. This compares with an average inflation rate of 13.13% in 2024. Topline attributed the sharp disinflationary trend mainly to subdued food prices and lower pressure from housing and utilities. Food inflation during 2025 is expected to average 0.63% year-onyear, compared with 6.27% in 2024, while inflation in housing, water and electricity is projected at 1.48% against 26% last year. However, the report noted that food inflation has picked up in recent months due to flood-related supply disruptions. On a monthly basis, December infla-
FBR probes Lahore-based actress over Rs67.7m undeclared wedding spending PROFIT
STAFF REPORT
Lifestyle Monitoring Cell finds Rs67.7m expenditure on wedding inconsistent with declared income, recommends audit, penalties and possible prosecution. The Federal Board of Revenue’s Lifestyle Monitoring Cell has identified suspected tax evasion involving a prominent film and television actress based in Lahore, citing undeclared spending that appears inconsistent with her reported income, Business Recorder reported. The FBR has not disclosed the identity of the actress, noting that the matter is at a preliminary stage and subject to due process under the law. As per preliminary findings, the actress is suspected of having spent about Rs67.7 million on her wedding earlier this year, an amount that was not reflected in her tax returns or wealth statements. Officials said the findings were based on a review of the taxpayer’s declared income, lifestyle indicators and open-source material, including publicly available social media content documenting wedding-related expenses such as venues, catering, attire, jewellery and production arrangements. None of these outlays, the FBR said, were disclosed in her filings. The Lifestyle Monitoring Cell reported a significant mismatch between the actress’s declared income and observed expenditures, including frequent foreign travel and new business activities. It noted that she has been registered with the FBR for around nine years, but her tax declarations did not suggest the capacity to finance such high-value personal spending.
tion was partly driven by a 0.75% increase in the housing, water and electricity category, led by a 15% rise in liquefied petroleum gas (LPG) prices and an estimated 2.3% increase in solid fuel costs. Food prices, meanwhile, are expected to decline 1.4% month-on-month, supported by a sharp fall of 15–25% in potato, onion and tomato prices. Sugar and fresh vegetable prices are also projected to drop by 6–8% during the month. The transport segment is expected to remain largely unchanged, as fuel prices declined by a marginal 0.1% during December. Following a surprise 50 basis points cut in the policy rate in December 2025,
Topline estimates the real interest rate at around 450 basis points, which remains above Pakistan’s historical average range of 200–300bps. Looking ahead, inflation in the second half of FY26 is expected to average around 9%, compared with 5.2% in the first half. June 2026 inflation is projected at around 11%, before gradually converging towards the central bank’s mediumterm target range of 5–7%. The brokerage has maintained its full-year FY26 inflation forecast at 6.5–7.5%. The report cautioned that global commodity price movements remain a key risk that could significantly alter the inflation outlook in the coming months.
Pakistan railways moves 8.2m tonnes of freight in FY25 g
ML-1, ML-3 UPGRADES AND THAR COAL LINK PLANNED TO EXPAND CARGO CAPACITY PROFIT
STAFF REPORT
Pakistan Railways transported 8.2 million tonnes of freight during the financial year 2024–25, moving petroleum products, containers, coal, rock phosphate, fertilizer, wheat and other bulk commodities, officials said on Monday. An official in the Ministry of Railways said the rail network is envisaged under the National Transport Policy 2018 to serve as the primary mode for long haul freight movement between industrial zones and seaports. However, he said freight operations continue to face constraints due to ageing infrastructure, limited line capacity and shortages of rolling stock. To improve freight handling, Pakistan Railways has launched multiple infrastructure and capacity enhancement initiatives. Among these is the construction of a 105 kilometre railway line, in collaboration with the Sindh government, to connect Thar coal mines with the main rail network. The project is aimed at enabling nationwide coal transportation and reducing the country’s imported coal bill. The official said work is planned to begin next year on the Karachi–Rohri section (480 km) of Main Line-1 and the Rohri–Nokandi section (884 km) of Main Line3. These upgrades are expected to increase line capacity and support additional freight traffic linked to Reko Diq and Thar coal. On regional connectivity, he said Pakistan
Railways has also proposed the Uzbekistan– Afghanistan–Pakistan Railway Corridor (UAPRC), the resumption of the Islamabad–Tehran–Istanbul (ITI) train, and the operation of a pilot freight train to Central Asian Republics, Russia and beyond, using existing rail links with Iran and multimodal routes through Afghanistan. For safety and operational efficiency, several track rehabilitation projects are underway under the Public Sector Development Programme (PSDP). These include new track construction from Chaman Yard to the Pakistan–Afghanistan border, rehabilitation of the Kotri– Jamshoro to Kotri Akhondabad section, safety works on the Tando Adam–Rohri and Rohri–Khanpur sections, along with upgrades on multiple other routes. To strengthen freight capacity, the official said 200 high capacity freight wagons have already been inducted, while another 620 wagons are being manufactured locally for addition to the existing rolling stock.
Dr Syed Amir Ali appointed CEO of Meezan Bank g
TAKES CHARGE FROM DECEMBER 30 AS IRFAN SIDDIQUI STEPS ASIDE AS FOUNDING CEO PROFIT
STAFF REPORT
Meezan Bank Limited has appointed Syed Amir Ali as its President and Chief Executive Officer (CEO) with effect from December 30, 2025, according to a formal notice issued to the Pakistan Stock Exchange (PSX) on Tuesday. “We have to inform you that Dr. Syed Amir Ali has been appointed as the President & Chief Executive Officer of Meezan Bank Limited with effect from December 30, 2025, in place of Mr. Irfan Siddiqui, Founding President & Chief Executive Officer,” read the notice.
He succeeds Irfan Siddiqui, who served as the bank’s founding President and CEO and played a central role in establishing Meezan Bank as Pakistan’s largest Islamic bank and a key player in the global Islamic finance industry. The bank’s board of directors placed on record its appreciation for Siddiqui’s contributions, citing his leadership in building the foundations of Islamic banking in Pakistan and steering the institution through a sustained period of growth and expansion. Meezan Bank said Siddiqui will continue to serve as a member of its board of directors following the leadership transi-
tion. According to Meezan Bank, Dr Syed Amir Ali had been serving as Deputy Chief Executive Officer and CEO-designate prior to his appointment as President and Chief Executive Officer. He holds a PhD in Business Administration, earned after completing advanced coursework and original research. His doctoral research, titled “SME Financing through the Islamic Digital Banking Ecosystem,” examined how the integration of digital platforms with Shariah-compliant financial models can improve access to capital for small and medium enterprises in emerging
economies, including Pakistan. Dr Amir Ali has extensive experience across finance, treasury, investment and corporate banking, having worked with domestic and international organisations including A.F. Ferguson & Co, Shell, BankIslami Pakistan Limited and Meezan Bank. During his earlier tenure at Meezan Bank, he led the corporate and investment banking group before moving to BankIslami in 2018, where he served as President and Chief Executive Officer. His academic and professional credentials include qualifications as a Chartered Accountant, CFA charterholder, MBA and LL.B., along with certification in software engineering. He is also an alumnus of the Advanced Management Program at Harvard Business School.
wednesday, 31 December, 2025 | islamabaD
and would be implemented with strict monitoring to safeguard national revenue and ensure fair competition for traders across Pakistan.
Nationwide FIA raids net Rs1.99b, 667 arrests in 2025 hawala crackdown Peshawar, Balochistan and Karachi emerge as major hubs of illegal currency trade PROFIT
STAFF REPORT
A year long crackdown by the Federal Investigation Agency (FIA) against hawala, hundi and illegal currency exchange has resulted in the recovery of currency worth over Rs1.99 billion and the arrest of 667 individuals across Pakistan during 2025, officials said on Monday. The arrests were made from multiple FIA zones, with Peshawar recording the highest number at 199, followed by Balochistan (120), Karachi (101), Multan (70), Kohat (63), Lahore (58), Islamabad (22), Faisalabad (15) and Hyderabad (14). Officials said the seized amount included US$777,868, foreign currencies valued at more than Rs320 million, and over Rs1.45 billion in Pakistani currency. The enforcement drive involved 523 raids carried out nationwide, leading to the registration of 546 cases and the completion of investigations into 174 inquiries related to illegal currency operations. An FIA official said the campaign was launched on the directions of Director General FIA Rifat Mukhtar Raja and targeted unlicensed money changers operating through plazas, markets and shops. Several such premises were sealed during the course of the operations. The raids were conducted with the assistance of other law enforcement agencies, as the FIA sought to dismantle organised financial networks facilitating illegal currency movement, the official added. He said strict legal action would be ensured against those involved in foreign currency smuggling, while international agents linked to illegal currency trade are also under pursuit. The FIA reaffirmed its commitment to curb financial crimes and strengthen transparency and stability in the country’s financial system.
PSDP FY26 spending lags as only Rs92b used from Rs1tr allocation by November PROFIT
STAFF REPORT
Pakistan’s federal Public Sector Development Programme (PSDP) for 2025–26 has seen weak execution, with only Rs91.9 billion spent by November against a Rs1 trillion allocation, accounting for just 9.2 per cent of the annual outlay and 26.3 per cent of the Rs348.97 billion released during the first five months of the fiscal year, according to official documents. Despite priority treatment, major infrastructure sectors showed weak absorption. State-owned corporations, including the National Highway Authority (NHA), National Transmission and Despatch Company (NTDC) and Pakistan Electric Power Company (PEPCO), were allocated Rs317.74 billion and received Rs111.21 billion in releases, but spent only Rs23.49 billion by November. The NHA, a flagship infrastructure agency, was allocated Rs226.98 billion for FY26. Against releases of Rs79.44 billion, it spent Rs20.74 billion, amounting to 9.1 per cent of its annual allocation. A similar trend was observed in the power sector. NTDC and PEPCO were jointly allocated Rs90.76 billion, with Rs31.76 billion authorised by November. Actual expenditure, however, stood at Rs2.76 billion, or 3.04 per cent of the allocation and 8.7 per cent of released funds. Federal ministries were allocated Rs682.3 billion for FY26 and received Rs237.77 billion in releases during the first five months. Their combined expenditure, however, was limited to Rs68.41 billion, reflecting chronic implementation delays.
Pakistan’s local mobile phone production rises 8% to 2.49m units in November PROFIT
STAFF REPORT
Pakistan’s local mobile phone manufacturing and assembly rose 8% year-on-year in November 2025 to 2.49 million units, compared with 2.31 million units in the same month last year, according to data released by the Pakistan Telecommunication Authority. Despite the monthly pickup, cumulative
local production during the first 11 months of 2025 stood at 27.6 million units, down 3% year-on-year, reflecting a slower overall pace earlier in the year. Of the total units assembled during 11M2025, smartphones accounted for 53% or 14.51 million units, while 2G handsets made up the remaining 47% or 13.09 million units. Local manufacturing met 88% of Pak-
istan’s mobile phone demand during the period, lower than the 93% average recorded in 10M2025. The decline was attributed largely to a higher share of imports following the launch of the Apple iPhone 17. Infinix led local assembly volumes in 11M2025 with 3.47 million units, followed by VGO Tel (3.07 million), Vivo (2.57 million), Itel (2.2 million), Tecno (1.73 mil-
lion), Samsung (1.57 million), Xiaomi (1.35 million), Q Mobile (1.06 million), Realme (1.0 million) and G’Five (0.92 million). Analysts at Topline Securities said the November increase points to a gradual normalisation in production following a period of slowdown and inventory build-up. Looking ahead, the brokerage firm expects mobile phone sales to grow 7–8%
year-on-year over the next 12 months, supported by a stable rupee, easing inflation and improving consumer purchasing power. Within the listed space, Airlink Communication and Lucky Cement are expected to benefit from rising demand, as brands assembled by their group companies—such as Tecno, Xiaomi and Samsung—remain among the top sellers in the local market.
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Wednesday, 31 December, 2025 | ISLAMABAD
FAUJI FOUNDATION NOT TO DIVEST ITS STAKES; UAE TO CONVERT EXISTING $1B SBP DEPOSIT INTO EQUITY INVESTMENT: REPORT
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uae’s $1Bn to Be converted into equity in new investment vehicle; Fauji Foundation to contriBute equivalent shareholding at agreed valuations; sBp to transFer rupee equivalent oF $1 Bn to Fauji; deal to lower external liaBilities and liFt Fdi without aFFecting sBp’s gross reserves
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staff report
HE United Arab Emirates is set to convert $1 billion held as deposits with the State Bank of Pakistan into an equity investment in Fauji Foundation, a move expected to reduce Pakistan’s external liabilities while increasing recorded foreign direct investment without altering the country’s gross foreign exchange reserves, BR reported, citing sources familiar with the matter.
Earlier, the market speculated, following remarks by Deputy Prime Minister Ishaq Dar, that the transaction would involve Fauji Foundation selling large stakes in its listed companies, particularly Fauji Fertilizer and Mari Energies. However, sources said this perception is inaccurate and does not reflect the structure of the proposed arrangement. Fauji Foundation currently holds about 45% in Fauji Fertilizer Company and around 40% in Mari Energies, and a sale of nearly half these stakes would materially dilute its ownership and control.
People close to the companies said the proposed transaction does not involve a major divestment of these core holdings. Under the proposed structure, the UAE would commit $1 billion by converting its existing deposits with the SBP into an equity stake in a newly created investment vehicle or trust, to be set up as a joint arrangement with Fauji Foundation. The UAE’s contribution would be in cash, while Fauji Foundation would inject assets of equivalent value in the form of shareholdings in selected group companies,
OGRA chairman post to be advertised, incumbent’s extension rejected g
masroor khan, who was appointed as ogra chairman in FeBruary 2021 For an initial Four-year term, had already gotten his tenure extended For one year, to FeBruary 2026 PROFIT
staff report
The federal government has advised the Cabinet Division to advertise the post of Chairman of the Oil & Gas Regulatory Authority (OGRA), rejecting a summary that sought to extend the tenure of the incumbent Chairman, Masroor Khan. According to industry sources, the federal cabinet turned down the request
for extension, with Prime Minister Shahbaz Sharif reportedly emphasizing the need to ensure merit and transparency in appointing a new regular chairman. Sources added that the process for fresh appointments of members and chairpersons of all regulatory bodies usually begins three months before the post becomes vacant. The Cabinet Division had reportedly sought a four-year extension for the current OGRA chairman.
Dar, Saudi counterpart discuss ‘current regional situation, developments’ in telephonic call: FO CONTINUED FROM PAGE 01
During the call, Dar expressed satisfaction with the positive trajectory of bilateral relations, while Prince Faisal “reaffirmed his commitment to further strengthening and enhancing bilateral ties,” the FO added. The exchange also included warm season’s greetings and New Year wishes. The call comes amid regional developments, including Saudi-led coalition strikes on what Riyadh described as foreign military support to southern separatists at Yemen’s Mukalla port. Pakistan had on Saturday reaffirmed its full support for Saudi Arabia’s efforts to ensure peace and stability in Yemen, commending the UAE’s role in these efforts. Earlier this year, Pakistan and Saudi Arabia signed a landmark mutual defence agreement, stipulating that an attack on one party would be treated as an attack on both. In November, the military leadership of Pakistan and Saudi Arabia pledged to enhance bilateral defence cooperation. “During the meeting, both sides discussed the evolving global and regional environment and avenues for enhancing bilateral defence cooperation,” the InterServices Public Relations (ISPR) said, noting that the two nations reaffirmed their resolve to deepen strong brotherly ties and the enduring defence partnership. Separately, DPM Dar received a call from Uzbek Foreign Minister Bakhtiyor Saidov, who confirmed the visit of Uzbekistan’s President to Pakistan in February 2026. The two ministers exchanged views on regional and international developments and reaffirmed their commitment to deepen bilateral cooperation in areas of mutual interest, while exchanging warm New Year greetings, according to a DPM Office release.
PRA impounds records of 11 outlets in crackdown on tax defaulters across Punjab cities PROFIT
staff report
The Punjab Revenue Authority (PRA) has impounded records of 11 business outlets during a province-wide enforcement drive against tax defaulters in Lahore, Rawalpindi, Jhelum, Taxila and Bahawalpur. According to a PRA spokesperson, enforcement teams inspected 58 marquees and food outlets as part of the operation. Records of 11 outlets, including a well-known fast-food chain, were taken into custody, while serious irregularities led to the seizure of documents from four major hotels. In Lahore’s Johar Town area, officials detected manipulation and tampering of sales records at two branches of a fast-food chain and at a prominent restaurant. The authority also issued notices to 40 food outlets and seven marquees for failing to install the mandatory Electronic Invoice Monitoring System (E-IMS).
The OGRA Chairman, when contacted, stated that he was not aware of this development. Masroor Khan, who was appointed as OGRA Chairman in February 2021 for an initial four-year term, had his tenure extended by the federal government for one year, from February 23, 2025, to February 22, 2026. Meanwhile, the position of Member (Gas) at OGRA has remained vacant
since November 20, 2022, following the end of Muhammad Arif’s tenure. The prolonged vacancy has been affecting OGRA’s functioning, with the responsibilities of the Member (Gas) temporarily assigned to Member (Oil), Zain-ul-Abideen Qureshi. The federal government has been responsible for finalizing a suitable candidate from a shortlist, but repeated delays have stalled the appointment.
SBP introduces climate stress testing framework for banks g
new guidelines add climate shocks to risk assessments; compliance timelines set through 2029 PROFIT
staff report
The State Bank of Pakistan has introduced climate-related stress testing measures for regulated financial institutions to strengthen risk management as climate risks intensify. In a circular, the SBP said it has decided to roll out an additional set of shocks covering climate-related risks for banks, development finance institutions and microfinance banks. The move is aimed at enhancing the ability of financial institutions to assess and manage risks arising from climate change. Under the newly issued Guidelines on Climate Stress Testing, regulated institutions will be required to apply climate-related single-factor shocks covering both physical and transition risks. The central bank noted that Pakistan is among the most climate-vulnerable countries, exposing its financial sector to rising climate-related threats.
As part of the framework, sample domestic systemically important banks (D-SIBs), identified under the D-SIBs Framework 2018, will be required to incorporate climate-related risks into their annual macro stress testing exercises. The guidelines are intended to help institutions assess the potential impact of climate risks on lending portfolios and overall financial positions. The SBP said climate stress testing will be conducted in addition to existing stress testing requirements introduced under FSD Circular No. 01 of September 1, 2020. Financial institutions will carry out single-factor climate stress tests based on endDecember data by the second quarter of the following year, with the first round allowed by the end of the third quarter of calendar year 2026 using end-December 2025 data. D-SIBs will conduct annual macro stress tests based on audited financial statements as of December 31 and submit results, including cli-
mate-related scenarios, to the SBP by June 30 of the following year. The central bank said it will also carry out its own in-house climate stress testing as part of the supervisory process and may engage with institutions on risk mitigation or contingency planning based on the outcomes. Supervisory teams may review the climate stress testing frameworks and processes adopted by financial institutions. Separately, the SBP has issued a Regulatory Framework for Effective Management of Climate-related Financial Risks. The framework requires financial institutions to identify climate risk drivers and integrate climate-related financial risks into governance, business strategy and risk management systems. All financial institutions are required to comply with the framework by June 30, 2029, and must submit board-approved, time-bound implementation plans and targets to the SBP by September 30, 2026.
Mirpurkhas Sugar Mills to sell stakes in Cherat Cement, Cherat Packaging g
Board approves open-market disposal to cut deBt, Boost liquidity PROFIT
staff report
Mirpurkhas Sugar Mills Limited has approved the disposal of its shareholding in Cherat Cement Company Limited and Cherat Packaging Limited through open-market transactions, according to a disclosure to the Pakistan Stock Exchange. The decision was taken by the company’s board of directors through a resolution passed by circulation on December 30, 2025. Under the approved plan, Mirpurkhas Sugar Mills
will sell 2,697,277 shares of Cherat Cement Company Limited and 2,437,615 shares of Cherat Packaging Limited. The company said the proposed divestment is aimed at reducing debt obligations and improving liquidity. The transaction is subject to final approval by shareholders at the company’s Annual General Meeting scheduled for January 21, 2026, as required under Section 183 of the Companies Act, 2017. The company requested the exchange to disseminate the information to Trading Right Entitlement certificate holders in accordance with applicable regulations.
Textile exports rise 16% to $17.85b in 11 months of 2025, outlook for 2026 turns cautious PROFIT
staff report
Pakistan’s textile exports grew by about 15.7% year-onyear to $17.85 billion during the first eleven months of calendar year 2025, compared with $15.43 billion in the same period last year, providing limited relief to the country’s largest export sector while concerns mount over prospects for 2026. Official data shows the sector, which accounts for nearly 60% of total exports and employs millions directly and indirectly, benefited from relatively stronger global demand earlier in the year and steadier domestic production. Industry participants, however, said the increase was largely value-driven rather than volume-led, reflecting higher prices and cost pass-throughs rather than a structural turnaround. Stakeholders said the absence of a comprehensive textile policy remained a major gap in 2025, particularly for small and medium enterprises that form the bulk of
the industry. They said consultations were largely limited to large groups, leaving unresolved issues such as energy pricing, taxation, financing costs and productivity, which continue to constrain export growth. Global developments have added to uncertainty. Exporters warned that renewed protectionist trade measures in the United States are reshaping global textile flows, prompting Chinese producers to divert shipments to European markets. This has intensified competition in the European Union, one of Pakistan’s key export destinations under the GSP Plus scheme, with buyers increasingly opting for lower-priced Chinese products. Another development during the year was the entry of Chinese textile groups into Pakistan under the second phase of CPEC. Industry participants said some of these firms are setting up units to export finished goods, creating competitive pressure for local mills that lack integrated supply chains and depend on imported raw materials.
at mutually agreed valuations. BR reported quoting sources as saying that the shares under consideration may include holdings in Fauji Fertilizer Company, Askari Bank, Fauji Cement and other subsidiaries, while Mari Energies is not expected to be part of the transaction. As part of the conversion, the SBP would create the rupee equivalent of the $1 billion, estimated at around Rs280 billion, and transfer it to Fauji Foundation for deployment through the new fund. While gross reserves would remain unchanged, the transaction would reduce external debt and liabilities by $1 billion and simultaneously raise Pakistan’s reported FDI by the same amount. If completed, the transaction would rank among the largest single foreign investments in Pakistan in recent years.
PM vows to ‘elevate’ bilateral ties with UAE to ‘mutually beneficial economic partnership’ CONTINUED FROM PAGE 01
Pakistan and the UAE share close diplomatic, economic, and cultural relations, underpinned by historical connections and a substantial Pakistani expatriate community in the Emirates. The UAE is one of Pakistan’s largest trading partners and a key source of remittances. Both nations collaborate on defence, energy, and investment projects, with the UAE frequently providing financial aid and humanitarian assistance to Pakistan. In April, Pakistan and the UAE signed multiple memoranda of understanding (MoUs) to further strengthen people-to-people and institutional ties. Two of the MoUs covered cultural cooperation and the establishment of a joint committee for consular affairs, while a third MoU was signed between the Federation of UAE Chambers of Commerce and Industry and the Federation of Pakistan Chambers of Commerce and Industry to establish the UAE-Pakistan Joint Business Council.
Banking sector ADR rises to 38% by November as private credit expands rs1.5tr private sector lending lifts ratios; pBa flags fiscal borrowing, cash economy as constraints
The Advance-to-Deposit Ratio (ADR) of Pakistan’s banking sector rose to around 38% by November 2025, supported by a Rs1.5 trillion expansion in private sector credit during the current fiscal year, indicating increased deployment of liquidity as economic conditions improve. In a statement, the Pakistan Banks Association said recent media reports citing an ADR of 35% were based on outdated June 2025 data and do not reflect the sector’s current position. The association said lending activity has picked up steadily since the start of FY26, lifting the ratio by November. The PBA said comparisons with regional peers such as India and Bangladesh overlook structural differences, noting that Pakistan finances nearly 99.8% of its fiscal deficit through commercial banks. This reliance, it said, limits the scope for banks to match lending ratios seen in economies with different fiscal architectures. The association also highlighted the impact of the informal economy, pointing out that currency in circulation stood at about Rs11 trillion as of November 2025, equivalent to roughly 34% of GDP. With scheduled bank deposits at Rs35.38 trillion, cash outside the system accounts for nearly 31% of total deposits, constraining financial intermediation. Despite these constraints, the PBA said banks have continued to support economic activity. In the SME segment, the borrower base increased 57% yearon-year to 276,578 in FY25, with outstanding financing rising 41% to Rs691 billion.
04 COMMENT
Wednesday, 31 December, 2025
Walking Away from Radicalization
Textile woes
C
T
The textile industry is going through an unprecedented crisis
EXTILES are still the backbone of Pakistan’s exports, still the largest of its industries, that much is undeniable, but that it is in crisis, is equally undeniable. A report in the latest issue of this newspaper’s Profit magazine indicates why, The crisis can best be understood by the plain and simple fact that the country is not exporting as many textiles as before, especially to traditional markets in the West. The crisis is not just about the owners’ profits, but the country’s ability to pay for its imports, GDP growth and the creation of jobs for the burgeoning population. That the government can help is a given, but how much more attention it can give is open to debate. One thing the government cannot do is create demands in the West. The government may help by ensuring that electricity supply is regular and reasonably priced, that tax rebates are made on time and that cotton seed is updated and developed at government institutions. It can even play a major role in making the burgeoning private-sector academia fulfill the industry’s research needs. It can even galvanize its trade attaches in various embassies to seek new markets for textile exports, but it cannot force the Western consumer to buy Pakistani textiles. It also cannot force foreign governments to forego demanding compliance with labour laws and environmental standards, as such demands are made in accordance with the will of the electorate. After all, the customer is always right. However, the government should also remember that apart from looking at industries like software, on which it is already relying, the country needs diversification. After all, there is little that can be done to push textiles, for it seems that the rapid growth of the past has been replaced by a need to maintain market share, and that is being made difficult by both regulations by importers which act as non-tariff barriers, even as actual tariffs are imposed, particularly by the USA. That is a problem only the importers can handle, and the industry’s home government can only do so much. The bringing down of the costs of various inputs can help to an extent, for the textile made-ups market is intensely competitive and thus price elastic. However, the basic reason is sluggish demand abroad. Pakistan should be aware of China’s example, that low tech exports are not a protection against being kicked in the face by the West.
O ntemporary national and international security dynamics have transformed many once-local issues into global challenges– including cyber threats, climate change, inequality, and radicalization. While insurgency and terrorism were historically contained within a State’s territorial limits, radicalization now affects societies worldwide, eroding social cohesion and influencing a state’s behaviour in the international arena. The failure to respect diverse social, political, and religious ideals – coupled with pursuit of beliefs through violent means – have emerged as key drivers of radicalization. Pakistan is no exception to the growing global trend of radicalization. Despite its ethnic, religious and sectarian diversity, the Pakistani society remained largely moderate in its character since its inception in 1947. However, the country’s social fibre was miserably damaged by two international events: firstly, the long and sustained Afghan War (1979-89); and, subsequently the far reaching consequences of events of 11 September 2001. To effectively counter radicalization and free our society from extremism, it is imperative to identify and analyze the underlying drivers that promote radical ideas among the younger generation. The intricate phenomenon of radicalization involves two basic characteristics: (1) terrorists– the extreme or the D-shaped form of the radical elements– are always minimum in number in a society but they are capable of causing serious policy implications; and, (2) their recruitment-cum-operation is from within the society. Similarly, the generation of radicalization involves a three layered process. Firstly, the third tier progression starts when the whole or a large segment of the society acts as blind bystanders to a twisted ideology floated by radical agents. In this way they not only tacitly support the process but also provide a medium for terrorists to grow– hence, validating Mao Zedong’s theory that guerrillas must operate as fish in the sea. Secondly, at the second tier a young
Arif Nizami (Late) Founding Editor
Babar Nizami
Editor Pakistan Today
Editor Profit
marginalized group emerges from within the society. This group, due to its strong political, social and economic deprivation, is considered most susceptible to radicalization. Finally amongst the alienated group, terrorists and their managers emerge at the top tier of the radicalization pyramid. The analysis of rootcauses of radicalization suggests following realities: (1) where illiteracy breeds radicalizations, education scotches it from society; (2) poverty and deprivation increase people’s grievances making societies vulnerable to indoctrination; and, while no religion teaches violence as a mean to societal reforms, the use of religion as the most prominent weapon carries historic linkage with the process of radicalization. Until the 9/11 attacks, Pakistan was widely regarded as a moderate, non-violent Islamic State, a reputation acknowledged internationally, including the US leadership in the 1990s. However, the post9/11 Global War on Terror fundamentally altered Pakistan’s social fabric and its global image. The evolution of radicalization in Pakistan can be understood in three historical phases: political radicalization (1947–1971), sectarianism (1971–2001), and extremism and terrorism (2001–present). In the first phase, Pakistan’s struggle for survival, weak governance, political instability, delayed democracy, and unresolved identity debates, fostered polarization and public frustration– culminating in the dismemberment of East Pakistan in 1971. The second phase saw sectarianism intensified due to regional and international developments, notably the Soviet invasion of Afghanistan (1979-89), the Iranian Revolution (1979), and the Kashmir insurgency (late1980s to early-2000s). Pakistan’s role as a frontline state, the influx of weapons, foreign funding, refugees, and reliance on non-state actors contributed to the spread of militancy and sectarian divisions. The third phase, triggered by 9/11, marked the rise of extremism and terrorism within Pakistan, severely damaging its internal cohesion and international standing. Today, radicalization poses one of Pakistan’s gravest challenges, demanding comprehensive, intelligent, and forward-looking state policies to restore social harmony and stability. Now as regards to the root-causes of radicaliza-
Education is the most effective long-term solution to counter radicalization and calls for urgent corrective measures. It is strongly recommended that the government of Pakistan should: (1) declare a national “Education Emergency” with aim of attaining literacy levels above 90 percent within five years; (2) allocate over 7 percent GDP on education for next 5 years and no less than 5 percent thereafter (3) following “One-Nation-One-Education” philosophy, ensure a single curriculum, standardized policies, and equal access across public, private, and religious institutions, aligned with national, social, and religious values; (4) announce free and compulsory education up to secondary level; (5) encourage private individuals/companies to sponsor needy students in return of tax relaxation; and, (6) affirm guaranteed public-sector employment for top university graduates
Dedicated to the legacy of late Hameed Nizami
M. A. Niazi
Dr arShaD MahMooD
A
Dr Zafar Khan SafDar
S Pakistan enters 2026, there is much to celebrate alongside reasons for sober reflection. The past year brought significant moments that lifted national morale and elevated Pakistan’s standing on the global stage. Diplomatically and militarily, 2025 marked a milestone when Pakistan not only secured international recognition when a UN expert report identified India as the aggressor in the April Pahalgam clash, but also successfully defended its territory during the May skirmishes, reinforcing Pakistan’s stance and demonstrating its resilience on multiple fronts. Strategic partnerships strengthened, notably with Saudi Arabia, deepening security cooperation and attracting investment commitments. High-level visits and diplomatic engagements expanded ties with the UAE, China, Türkiye and other partners, fostering trade and collaboration. These victories brought pride, but they also exposed the uncomfortable reality that international success cannot compensate for domestic neglect. Pakistan’s social and human development indicators continue to lag far behind global benchmarks. Nearly 40 percent of children under five are stunted, reflecting chronic malnutrition that weakens cognitive development and limits future earning potential. Maternal mortality remains high at 150-186 deaths per 100,000 live births, highlighting gaps not only in clinical care but also in awareness, access, nutrition and social support. Preventable diseases such as tuberculosis, hepatitis, and diarrheal illnesses continue to sap productivity and
burden households financially. Education gaps exacerbate these problems and over 22 million children aged five to 16 remain out of school, with girls in rural areas disproportionately affected. These combined deficits form a cycle of exclusion, trapping generations in poverty despite periods of economic growth. Where countries like South Korea, Singapore, and Indonesia leveraged education, health and inclusion to transform themselves, Pakistan has struggled to sustain similar progress. Compounding these structural issues are deeply rooted social and cultural barriers. Health interventions often fail because they are treated as technical projects rather than social processes requiring trust and behavioural alignment. Communities may receive information, yet social norms, gender roles, religious interpretations, and peer pressure continue to influence behaviour more strongly than clinics or policies. Gender inequality remains one of the most entrenched challenges as female literacy lags far behind male literacy, and women’s participation in the formal workforce remains among the lowest globally. Harmful practices, including honour killings, child marriage, and gender-based violence, persist despite legal frameworks. Violence and discrimination against minorities and transgender individuals underscore the broader challenges of social exclusion and stigma, which hinder progress across multiple fronts. While Pakistan struggles with these internal hurdles, the world is racing ahead. Emerging technologies, digital economies, renewable energy, and biotechnology are reshaping global labour markets and opportunity structures. Countries with similar starting points have surged forward. Rwanda dramatically reduced maternal and infant mortality through focused health reforms, Indonesia cut child stunting significantly via integrated nutrition programmes, and South Korea transformed its economy through sustained investment in education and skill development. These examples illustrate that technical solutions alone are insufficient; behavioural change, social inclusion, and institutional reform must accompany any policy intervention. Pakistan must integrate reforms across health, education, gender, and governance simultaneously to catch up to global peers. The lessons for Pakistan in 2026 are clear; building hospitals, distributing vaccines or issuing policies is not enough. Progress requires a na-
Entering 2026, Pakistan can either allow long-standing barriers in society, governance and opportunity to persist, or it can commit to bold, coordinated reforms. While many countries have advanced in technology, education, and social development, Pakistan still possesses the resources, talent and resilience to chart a different path. The new year should be measured not just in celebrations, but in resolve to improve health systems, expand educational access, promote gender equity, strengthen governance, and create real economic opportunities. Only through sustained effort can Pakistan’s potential be realized, ensuring that achievements abroad are matched by meaningful progress at home. 2026 must be the year when plans turn into action, and the nation begins to bridge the gaps that have held it back for decades.
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Karachi – Ph: 021-32640318 I
The writer is on the faculty of NUST Islamabad and can be reached at arshadmahmood74@hotmail.com
Editor’s mail
From International Wins to Domestic Urgency PAKISTAN IN 2026
tion: illiteracy alone does not explain the rise of radicalization in Pakistani society; rather, it emerges from the cumulative effect of multiple internal and external factors. However, illiteracy serves as a central driver because education is directly linked with economic, political, and social conditions. Education also serves as a solution-oriented tool against radicalization. If illiteracy fuels radicalization, education and enlightenment are its most effective remedies. Pakistan’s weak education system reflects elite perceptions shaped by colonial legacies, where outdated policies persist without meaningful reform. This has hindered social development and contributed to societal degeneration. Internationally, Pakistan ranks poorly in education, with a literacy rate of just 60 percent and millions of out-of-school children, particularly girls. Compared to regional and global peers, Pakistan’s performance is among the lowest worldwide, highlighting a chronic neglect of education in national priorities. The country operates three parallel education systems– public, private, and religious– each serving different socioeconomic classes. This structural divide, compounded by varying curricula and ideologically driven content, produces fragmented mindsets and weakens social cohesion. The lack of standardized curricula– further exacerbated by post–18th Amendment provincial autonomy– has intensified polarization rather than fostering national unity. Furthermore, quality of education remains a serious concern, as many institutions promote narrow worldviews and intolerance, inadvertently nurturing early signs of radicalization. Despite global evidence that sustained investment in education promotes tolerance and stability, Pakistan allocates just over two percent of its GDP to education, far below international standards. Additionally, limited incentives, high education costs, and rising unemployment discourage school retention and push youth toward alternative avenues – often extremist. Ultimately, meaningful investment in education, curriculum reform, employment opportunities, and inclusive policies is essential for countering radicalization and ensuring Pakistan’s long-term social stability. Education is the most effective long-term solution to counter radicalization and calls for urgent corrective measures. It is strongly recommended that the government of Pakistan should: (1) declare a national “Education Emergency” with aim of attaining literacy levels above 90 percent within five years; (2) allocate over 7 percent GDP on education for next 5 years and no less than 5 percent thereafter (3) following “OneNation-One-Education” philosophy, ensure a single curriculum, standardized policies, and equal access across public, private, and religious institutions, aligned with national, social, and religious values; (4) announce free and compulsory education up to secondary level; (5) encourage private individuals/companies to sponsor needy students in return of tax relaxation; and, (6) affirm guaranteed public-sector employment for top university graduates. There could be no phenomenal change in our lives, if we fail to impart education and quality education to our future generation.
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When medicine harms
tional dialogue and cultural transformation that reaches schools, media, community institutions and families. Human capital development must become a priority, early childhood nutrition and maternal health programmes must be expanded with community engagement to tackle behavioural barriers, universal access to quality education must be ensured, particularly for girls and rural populations, and social safety nets must protect the most vulnerable while promoting opportunity. Governance reforms should reframe health and education from technical schemes into social processes grounded in trust, while gender equity must be actively promoted through enforcement, incentives, and awareness campaigns. Economic modernization is equally urgent, Pakistan must invest in technology, skills, and innovation to prepare its youth for the global economy, while leveraging diplomatic goodwill into partnerships that support infrastructure, climate adaptation and industrial growth. The achievements of 2025 such as diplomatic wins, strengthened strategic partnerships, and a more assertive foreign policy demonstrate Pakistan’s potential on the world stage. But the true measure of progress in 2026 will be domestic transformation as to how many children are learning, how many women are empowered, how many lives are protected from preventable harm, and how much trust citizens place in each other and in their institutions. Pakistan has the talent, the resilience, and the demographic advantage to catch up to global standards, but only if it confronts entrenched social norms, strengthens institutions, and aligns behaviour with opportunity. Entering 2026, Pakistan can either allow long-standing barriers in society, governance and opportunity to persist, or it can commit to bold, coordinated reforms. While many countries have advanced in technology, education, and social development, Pakistan still possesses the resources, talent and resilience to chart a different path. The new year should be measured not just in celebrations, but in resolve to improve health systems, expand educational access, promote gender equity, strengthen governance, and create real economic opportunities. Only through sustained effort can Pakistan’s potential be realized, ensuring that achievements abroad are matched by meaningful progress at home. 2026 must be the year when plans turn into action, and the nation begins to bridge the gaps that have held it back for decades.
The writer is on the faculty of NUST Islamabad and can be reached at arshadmahmood74@hotmail.com Islamabad – Ph: 051-2204545
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WHILE there is always a shortage of medicines, including the life-saving ones, there is another related dilemma which hardly gets noticed despite being life-threatening. The ill-advised tendency towards self-medication receives little attention in society even though it has serious health risks. The use of medicines without proper understanding or super-vision can quietly disturb the heart’s rhythm and, in rare cases, trigger sudden cardiac events. Many would be surprised to know that several widely used drugs have the potential to prolong the heart’s QT interval, which represents the part of the heartbeat’s electrical cycle that must reset properly for the heart to function normally. When this interval becomes excessively long, the heart can slip into dangerous arrhythmias. In Pakistan, some of the most frequently used medicines have the potential to cause such harm. Antibiotics commonly used for sore throat, chest infections, fever and suspected typhoid can affect the heart, especially in older adults, dehydrated patients, or those already taking other contra-indicated medicines. Similarly, antibiotics often used for urinary tract infections and abdominal discomfort can increase cardiac risk when combined with certain other drugs. Unfortunately, these antibiotics are often taken without prescription, dose guidance, or awareness of drug interactions. Psychiatric medicines present another concern. This is a serious concern because some of these medicines are frequently used in Pakistan incorrectly as sleep aids for the elderly. When taken without medical supervision, these medicines can disturb the heart’s rhythm, or cause sudden drop in blood pressure, putting vulnerable individuals at risk. Even common painkillers, which every household relies upon, deserve caution. Regular high-dose use of such drugs for joint pain or backache can raise blood pressure, strain the kidneys, and indirectly burden the heart, particularly among individuals with diabetes or hypertension. Many patients who arrive in emergency rooms with heart failure have a history of prolonged painkiller use without medical monitoring. Over-the-counter (OTC) cold and flu medicines pose yet another hidden risk. Preparations marketed for blocked nose or quick relief can sharply increase heart rate and blood pressure. A person with undiagnosed hypertension, dehydration, or an underlying heart condition may experience palpitations, chest pain or even collapse after taking these seemingly harmless remedies. Electrolyte-disturbing medicines also require attention. Diuretics, commonly taken without prescription for swelling or ‘water reduction’, can dangerously lower potassium and magnesium levels. These minerals are vital for the heart’s electrical stability. Many sudden collapses in older patients, especially during hot weather, are linked to preventable electrolyte disturbances caused by unmonitored use of diuretics. While patients and their caregivers can protect themselves by being a little more prudent in this regard, healthcare professionals have a major role to play. Doctors can reduce the risk by spreading awareness among their patients regarding drug interactions, and, more critically, by avoiding writing unnecessary prescriptions themselves. Medicines are life-saving tools when used wisely, but when taken carelessly without due guidance, even common drugs can become silent threats, slowly pushing one towards a grave health crisis. Awareness, careful prescribing, and responsible use of medications can protect countless lives.
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ROOHI BANO OBAID KARACHI
Email: editorial@pakistantoday.com.pk
COMMENT 05
Wednesday, 31 December, 2025
Russia’s growing shadow Stain in the fame
F
dr MuhaMMad akraM Zaheer
or more than a decade, russia has expanded its influence across regions far from its immediate borders. Much of this activity has unfolded quietly, through political patronage, private military networks, cyber operations and support for friendly regimes or factions in conflict zones. Although these undertakings rarely make headline news in the countries not directly affected, their consequences have rippled across continents, shaping security calculations from Africa to Europe and the Middle East. The phrase “offshore menace,” when applied to Moscow, captures an important reality: russia today projects leverage not by formal territorial expansion but by cultivating pockets of influence abroad where state authority is weak, institutions are fragile, or political elites are seeking external support to secure their own rule. These settings offer openings for russian operatives,
intelligence networks and commercial enterprises that serve larger geopolitical interests. The result is a form of intervention that remains deniable yet effective, visible yet difficult to counter. Unlike major Western powers that often frame their international involvement in terms of development or institution-building, russia’s overseas engagements tend to follow a different logic. Moscow is not primarily concerned with improving governance or strengthening economies; instead, its focus often lies in ensuring that governments dependent on its favor remain loyal, or that rival powers find themselves constrained, distracted, or pushed out of strategic regions. This pattern is highly visible in parts of Africa. Countries such as Mali, the Central African republic and Sudan have experienced deep political turbulence in recent years. In each case, local leaders, military or civilian, turned to russia for military assistance, arms and political backing. russia, in return, received mining concessions, intelligence access and a foothold in regions where Western influence had been waning. The private military structure once known as Wagner and now reorganized under new leadership, plays a central role in this expansion. While often described as a mercenary outfit, its tasks go well beyond battlefield engagement. Its operatives have been involved in guarding mines, training security forces and a geopolitical mission. The collapse of Wagner’s leadership after the mutiny in 2023 did not diminish these networks; they were swiftly absorbed under tighter Kremlin control, preserving russia’s reach across the African continent.
What makes Moscow’s offshore manoeuvres particularly challenging is their fluidity. Russia seldom commits to a single method. It blends military presence with commercial ventures, mixes diplomacy with covert action and combines political patronage with information warfare. This adaptability enables Russia to shift strategies when confronted and to exploit openings wherever they appear. Unlike traditional great power rivalry defined by territorial control or formal alliances, Russia’s modern approach is dispersed and opportunistic. It thrives in ambiguity, making it difficult for rivals to respond without escalating tensions or overextending themselves
russia’s offshore presence is not confined to soldiers, mining specialists, or political advisors. A significant dimension lies at sea, where Moscow has adapted to international sanctions by assembling a vast network of aging tankers nicknamed the “shadow fleet.” These vessels, many operating under obscure flags and ownership structures, transport sanctioned oil across global waters while obscuring their movements. This maritime web allows russia to sell oil at prices that fund its war effort in Ukraine while undermining Western sanctions meant to limit such revenue. Several countries, some out of economic necessity, others out of political calculation, have welcomed discounted russian crude. The opaque routing, tactics such as ship-to-ship transfers and the use of non-transparent insurance schemes, have raised concerns about environmental hazards as well as the erosion of international maritime norms. Beyond hydrocarbons, russia has explored new maritime corridors to bypass naval chokepoints and Western monitoring. The opening of Arctic sea routes due to melting ice offers Moscow long-term ambitions. Although these corridors remain risky and seasonal, russia’s investment in icebreakers and Arctic ports demonstrates a strategic intention to shape future global trade routes and secure military access across the northern flank. Where russian troops or contractors are not present, Moscow often deploys a different kind of force: information manipulation. State-run media networks, social media campaigns and covert online operations have been used to influence elections, deepen social fractures and amplify anti-Western sentiment in various regions. In Africa, for example, pro-russian narratives frequently portray Moscow as a champion of sovereignty and stability, contrasting its image with that of Europe and the USA. These narratives resonate in countries where colonial histories remain central to political discourse. russian operatives have refined their messaging to fit local grievances, turning online platforms into battlegrounds for hearts and minds. However, the reach is not limited to developing countries. In Europe and North America, russian troll farms and affiliated groups have at times attempted to influence debates on immigration, public health and national security. The aim is not necessarily to persuade but to disrupt to weaken trust in institutions, encourage political fragmentation and sow confusion. The effectiveness of such tactics varies, but their persistence reveals a broader pattern: Moscow views information disorder as a cost-effective tool to challenge adver-
saries far from its borders. In some of the regions where russia has made gains, its support has helped local rulers consolidate their authority. Mali’s military rulers, for instance, have relied heavily on russian backing to strengthen their position after severing ties with French forces. In the Central African republic, russia has provided security services and political advising to an extent that has given it considerable sway over government decisions. Such relationships benefit Moscow in several ways. They allow russia to present itself as an alternative partner to Western democracies, one that does not lecture about human rights or governance. They also secure access to natural resources particularly gold, diamonds and rare minerals that help finance russia’s global ambitions. Moreover, they guarantee political loyalty in international forums such as the United Nations, where even a few supportive votes can serve russia’s larger diplomatic goals. The downside is that these relationships often deepen authoritarian tendencies, fuel internal conflicts and weaken the prospects for long-term stability. Yet for Moscow, instability in distant regions is not necessarily a liability. Disorder provides openings for influence and russia has learned to operate effectively in environments where conventional diplomacy struggles to take hold. While much attention has focused on Africa, russia has been quietly reasserting its presence in Central Asia as well. The region’s states have attempted to diversify their foreign relations, particularly after the invasion of Ukraine raised alarm about Moscow’s intentions. China’s rising economic influence and Turkey’s increased diplomatic engagement have also offered these states alternatives. Nevertheless, russia remains a pivotal actor in the region, particularly in security matters. Its military bases, intelligence networks and labor-mar-
ket connections continue to tie Central Asian countries to Moscow. Even where governments seek greater autonomy, they remain cautious not to antagonize russia, whose political influence still permeates the region’s elite circles. Europe has faced Moscow’s offshore activities in more ways that are direct. From cyberattacks targeting government institutions to covert financing of political parties, russia has sought to create cracks within the European Union and NATo. The full-scale invasion of Ukraine in 2022 was the most blatant form of aggression, but it also served as a catalyst for European unity. Still, Moscow has not abandoned its efforts to weaken cohesion among European states. Energy dependence remains another lever. Although Europe has significantly reduced its reliance on russian gas, Moscow continues to explore ways to exploit vulnerabilities. The sabotage of undersea pipelines in the Baltic Sea, a case still under investigation, illustrates how critical infrastructure has become entangled in geopolitical confrontation. What makes Moscow’s offshore manoeuvres particularly challenging is their fluidity. russia seldom commits to a single method. It blends military presence with commercial ventures, mixes diplomacy with covert action and combines political patronage with information warfare. This adaptability enables russia to shift strategies when confronted and to exploit openings wherever they appear. Unlike traditional great power rivalry defined by territorial control or formal alliances, russia’s modern approach is dispersed and opportunistic. It thrives in ambiguity, making it difficult for rivals to respond without escalating tensions or overextending themselves. The writer has a PhD in Political Science and can be reached at akramzaheer86@yahoo.com
Who owns the most gold and where are the bars kept?
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Gold appreciated by 65% in 2025, its best year since 1979, and has risen nearly 140% over the past three years EL PAIS
Nuria SaloBral
oLD has been a symbol of wealth for thousands of years. While humans have used all sorts of instruments as money (salt, coins, banknotes, or now, algorithms), no asset even comes close to matching its historical significance. And popular culture is also full of references to the precious metal. These include historical references, like the Moscow gold sent by the Spanish Second republic to the USSr, and television references, such as the success of the series Money Heist. Even in an age of futuristic mechanisms such as cryptoassets, the precious metal asserts its power — not only as an investment asset capable of providing a safe haven during financial turbulence, but also as a geostrategic weapon. Central banks’ gold purchases, accelerated by the outbreak of the war in Ukraine in 2022, have been a crucial factor in driving its price higher, to the point that ownership of gold bars and the physical location where they are stored is taking on a new significance, shaped in large part by the new global and commercial order imposed by the White House. The turbulent international policies pursued by U.S. President Donald Trump, in open confrontation with the European Union, have sparked debate this year in countries such as Germany and Italy about the advisability of repatriating their substantial gold reserves held in the U.S. Washington declared a trade war this year, but the White House’s sweeping tariff policies ultimately exempted gold, an asset too sensitive for the world’s largest economy. Still, even the mere threat of levying tariffs helped push up its price and triggered a precautionary movement of bars across the Atlantic, from London’s vaults to New York’s, to avoid potential U.S. tariffs on foreign gold. China also demonstrates gold’s importance in today’s geopolitics: its central bank is one of the most prominent buyers, in quantities suspected to exceed official declarations. This lack of transparency is typical for assets that take on geostrategic value. The gold standard as a benchmark for
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THE WALL STREET JOURNAL The ediTorial Board
ID economists underestimate the damage of the Biden regulatory barrage? one reason the U.S. economy is outperforming expectations may be that the Trump Administration’s deregulation is offsetting tariff harm. Consider how it has uncorked broadband investment and saved taxpayers billions by slashing the Biden team’s red tape. Congress appropriated $42 billion in the 2021 infrastructure bill for states to expand broadband to “unserved” and rural commu-
global currencies was abandoned during the Great Depression, and the dollar’s convertibility into gold ended in 1971. Yet central banks around the world still hold vast reserves of the metal, whose value has soared thanks to rising prices. Gold appreciated by 65% in 2025, its best year since 1979, and has risen nearly 140% over the past three years. U.S. reserves — the largest in the world at 8,133 tons — have surpassed $1 trillion for the first time. Central bank purchases have been decisive in the metal’s unstoppable rally, totaling around 32,000 tons globally. They are valued at €3.84 trillion ($4.51 trillion). The russian invasion of Ukraine in February 2022 marked a turning point for gold both as a safe-haven asset and as a geopolitical tool. “It brought about a structural change in global gold demand. When the United States froze all russian dollar-denominated assets, many central banks in emerging markets worried about the possibility of similar measures being taken against them in the event of a conflict,” explains Kerstin Hottner, head of commodities at Vontobel. As a result, many central banks decided to diversify away from the dollar in their reserves, favoring gold purchases instead. According to Carsten Menke, head of Next Generation research at Julius Baer, the war in Ukraine is “the main factor that has caused the change in gold’s role as a geostrategic asset. This is a structural change that is unlikely to be reversed, even if a peace agreement is reached.” But there is another factor that has strengthened gold’s geostrategic profile in recent times: Donald Trump’s return to power. The U.S. president is breaking the status quo of international relations with his continuous attacks on the European Union. He is also undermining the independence of
Switzerland processes around 70% of the world’s gold, and the US is a major importer of gold bars
the Federal reserve, custodian of thousands of tons of gold from European central banks that deposited part of their reserves in the U.S. during World War II and the Cold War. These two factors have recently reignited debates in Germany and Italy — where 37% and 43% of their gold reserves are held at the Federal reserve in New York, respectively — about repatriating the precious metal. Germany and Italy are, after the U.S., the countries with the largest gold holdings in the world: 3,350.25 tons at the Bundesbank and 2,451.84 tons at the Bank of Italy, according to the World Gold Council. In any case, these two countries store most of their gold in the vaults of their central banks in Frankfurt or rome, just as the Bank of Spain does in Madrid. The United States protects its own reserves — and those of other countries — across New York and military facilities at West Point and Fort Knox. The Bank of England holds British gold bars, as well as those of other central banks and private investors, who rushed this year to buy the metal as an investment. “There is a growing movement of repatriation, or at least sovereign relocation, of gold reserves, related less to logistics and more to doubts about the political and legal security of the U.S. as a neutral custodian,” explains Judith Arnal, senior researcher for economics at Spain’s Elcano royal Institute. “It is not yet a mass exodus from the New York Fed, but it is a structural trend to hold more gold in one’s own country or in jurisdictions that offer full legal guarantees and to reduce the risk that reserves could be caught up in sanctions, political pressure, or interference with the custodian central bank.” So far, requests to repatriate Italian or German gold have not come from government officials or central banks. In Germany, they have emerged within the far-right party Alternative for Germany (AfD), and in Italy,
Germany and Italy are, after the US, the countries with the largest gold holdings in the world: 3,350.25 tons at the Bundesbank and 2,451.84 tons at the Bank of Italy
the idea has been present since 2019 within the Brothers of Italy party, led by Italian Prime Minister Giorgia Meloni. However, her government has taken no steps to repatriate reserves from the U.S. — a move that would be costly logistically and, no doubt, politically as well. Kerstin Hottner, head of commodities at Vontobel, does not believe that European countries will repatriate their gold held in the U.S. in the near future. “Doing so would represent a significant loss of confidence in the United States. It would also be seen as a clear affront to Trump, and given his personality and track record, he would likely take it personally and retaliate in some way. The political implications of a large-scale repatriation would simply be too great,” she explains. Italy provides another recent example of this renewed interest in national gold reserves: Meloni’s party has proposed declaring that the country’s gold reserves “belong to the state, on behalf of the Italian people” — a measure that immediately raised concerns at the European Central Bank, which fears that it will undermine the independence of the Bank of Italy and violate European treaties. GOLD AND TARIFFS Gold, as a geopolitical asset, is a sensitive issue for the U.S., as its tariff policy has shown. Trump’s threat of imposing taxes on the precious metal prompted a precautionary movement of bars from London’s vaults to New York. The Bank of England, whose vaults hold a significant portion of the world’s financial institutions’ gold, recorded strong withdrawal requests in February from traders and banks, who preferred to move it to New York. The impact of the tariff threat on gold peaked in August, when Trump announced a 39% tariff on Switzerland, which also affected the country’s powerful gold refining industry. Switzerland processes around 70% of the world’s gold, and the U.S. is a major importer of gold bars. In fact, much of Switzerland’s trade surplus with Washington is explained by the precious metal. Trump ultimately decided to exempt gold from tariffs and reduce Switzerland’s rates to 15% in an agreement that included a Swiss investment package of about $200 billion in the U.S., with the gold refining industry as a key beneficiary. “It appears that the decision to impose a
Trump unbreaks the internet nities. The spending was unnecessary since satellite services like SpaceX’s Starlink and 5G fixed wireless services were rapidly closing the so-called digital divide. Upward of 99% of households already had high-speed internet. But Democrats wanted the money, and the Biden team then used it in an attempt to micromanage broadband nationwide. States receiving funds had to consult with unions, native American tribes and “local community organizations” on their plans to expand
broadband. This gave liberal special interests a veto and let them extort developers. States also had to submit plans for Commerce Department review, explaining how they would make broadband “affordable” for middle-class consumers. Biden-era guidance suggested that states hand out subsidies to consumers or use “their regulatory authority to promote structural competition”—i.e., industrial policy. Providers applying for funds were also advised to offer “low-cost” plans and provide
“nondiscriminatory access to and use” of their networks on a “wholesale basis to other providers . . . at just and reasonable wholesale.” This was a back-door way to impose utilitystyle rate regulation on internet providers. The Biden crowd also stipulated that broadband providers give hiring preferences to “underrepresented” groups, including “aging individuals,” prisoners, racial, religious and ethnic minorities, “Indigenous and Native American persons,” “LGBTQI+ persons,” and “persons otherwise adversely af-
China holds the world’s sixthlargest gold reserves, totaling 2,279.56 tons, up from 1,948 tons in 2021 39% tariff on Switzerland was made without fully considering the country’s role as a global refining hub,” says Hottner. “When the gold market again began to show signs of distortion, U.S. officials were quick to reiterate that gold would not be part of the tariff package.” CHINESE PURCHASES AND LACK OF TRANSPARENCY Annual gold purchases by monetary authorities averaged around 500 tons between 2009 and 2021, but have multiplied since 2022. China holds the world’s sixth-largest gold reserves, totaling 2,279.56 tons, up from 1,948 tons in 2021, according to the World Gold Council, a leading source of information on global gold ownership. Poland, on high alert since 2022 due to its proximity to russia, has increased its gold reserves even more sharply, from 230.84 tons in 2019 to 448.23 tons in 2024. Most countries voluntarily report their gold reserves to the IMF. “That said, beyond these declared reserves, there is also a large amount of undeclared purchases that have begun to emerge since 2022, that is, since the U.S. dollar began to be used as a weapon,” explains Menke, who says China is one of the largest undeclared buyers. According to the expert’s calculations, “its volume of undeclared purchases reached 821 tons between January 2022 and the present. This compares to 357 tons of declared purchases.” According to Arnal, from the Elcano royal Institute, “there is considerably less transparency than official data suggests: while statistics for declared reserves are relatively consistent, there are strong indications of unreported purchases and holdings, as well as gray areas in private ownership and opaque sovereign reserves.” In her view, the available data are reasonably reliable for determining which countries hold the most gold, allowing for comparisons between nations, but it is not possible to know in detail all the gold held by states or exactly where it is physically stored. fected by persistent poverty or inequality.” Fiber projects were also given heavy preference over satellite and fixed wireless services, even though the latter could be installed faster and at a fraction of the cost. These requirements delayed projects, raised costs, and added uncertainty across the industry. Enter the Trump team, led by assistant Commerce secretary Arielle roth, which removed nearly all of the Biden mandates and prioritized projects in which private operators put up more capital so they would have more skin in the game. Ms. roth said this month the Administration’s deregulation is on track to save taxpayers $21 billion.
06 NEWS
TRUMP WARNS IRAN OF NEW US STRIKE IF IT REBUILDS NUCLEAR OR MISSILE PROGRAMMES
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WASHINGTON AGENCIES
S President Donald Trump said on Monday the United States could support another major strike on Iran were it to resume rebuilding its ballistic missile or nuclear weapons programs and warned Hamas of severe consequences if it does not disarm. Speaking beside Israeli Prime Minister Benjamin Netanyahu following a meeting at his Mar-a-Lago estate in Florida, Trump suggested Tehran may be working to restore its weapons programs after a massive US strike in June. “I’ve been reading that they’re building up weapons and other things, and if they are, they’re not using the sites we obliterated, but possibly different sites,” Trump told reporters during a press conference. “We know exactly where they’re going, what they’re doing, and I hope they’re not doing it because we don’t want to waste fuel on a B-2,” he added, referring to the bomber used in the earlier strike. “It’s a 37-hour trip both ways. I don’t want to waste a lot of fuel.” Trump, who has broached a potential nuclear deal with Tehran in recent months, said his talks with Netanyahu focused on advancing the fragile Gaza
peace deal he brokered and addressing Israeli concerns over Iran and over Hezbollah in Lebanon. Iran, which fought a 12-day war with Israel in June, said last week that it had conducted missile exercises for the second time this month. Netanyahu said last week that Israel was not seeking a confrontation with Iran, but was aware of the reports, and said he would raise Tehran’s activities with Trump. Trump said he wanted to move to the second phase of the ceasefire deal between Israel and Hamas reached in October after two years of fighting in
US warns Indians of ‘significant criminal penalties’ for illegal migration WASHINGTON AGENCIES
The United States Embassy in India on Tuesday warned Indian nationals of “significant criminal penalties” for illegally migrating to the US and breaking its laws. Relations between Washington and New Delhi have become strained over the course of the year, due to US President Donald Trump’s sweeping 50 per cent tariffs on Indian goods and India’s discomfort over US engagement with Pakistan after the May conflict between the two South Asian rivals. In a post on X, the US Embassy posted a message reading, “If you break US law, you will be punished with significant criminal penalties. The Trump Administration is committed to ending illegal immigration to the United States and protecting our nation’s borders and our citizens.” Neither the US State Department nor US missions in Pakistan or other nations, including Afghanistan, Syria, Myanmar or China, have issued similar warnings.
Gaza, a progression that entails international peacekeeping forces deployed in the Palestinian enclave. Israel and Hamas accuse each other of major breaches of the deal and look no closer to accepting the much more difficult steps envisaged for the next phase. Hamas, which has refused to disarm, has been reasserting its control as Israeli troops remain entrenched in about half the territory. Israel has indicated that if Hamas is not disarmed peacefully, it will resume military action to make it do so. During his Monday comments,
Trump heaped the blame on the militant group for not disarming more promptly, arguing that Israel had lived up to its side of the deal and warning that Hamas was inviting grave consequences. “There will be hell to pay,” Trump warned when asked what he will do if Hamas does not lay down its arms. He has made similar statements at previous intervals during the fighting. Netanyahu said this month that Trump had invited him for the talks, as Washington pushes to establish transitional governance for the Palestinian enclave amid Israeli reluctance to move forward. The deployment of the international security force was mandated by a November 17 UN Security Council resolution. While Washington has brokered three ceasefires involving its longtime ally – between Israel and Hamas, Israel and Iran, and Israel and Lebanon – Netanyahu is wary of Israel’s foes rebuilding their forces after they were considerably weakened in multiple wars. Overall, Trump’s comments suggested he remains firmly in Netanyahu’s camp, even as some aides have privately questioned the Israeli leader’s commitment to the Gaza ceasefire. His comments also suggested he is willing to risk additional hostilities related to Gaza and Iran, even as Trump has taken credit for resolving Israel’s wars in both places.
China calls for dialogue, negotiation to resolve Ukraine crisis BEIJING
AGENCIES
Chinese foreign ministry spokesperson Lin Jiang Tuesday said that dialogue and negotiation are the only viable way out of the Ukraine crisis. He made these remarks in response to a query during his regular briefing about Russian Foreign Minister Sergei Lavrov’s statement regarding launch of an overnight drone attack targeting the presidential residence in Russia’s northwestern Novgorod region. “We call on relevant parties to follow the principles of no expansion of the battlefield, no escalation of fighting and no fanning the flames by any party, to promote deescalation and to create conditions for the political settlement of the crisis,” he said. China expresses deep condolences over Khaleda Zia’s death Meanwhile, China expresses deep condolences over the passing of Ms Khaleda Zia and heartfelt sympathies to the interim government of Bangladesh and Ms Zia’s family, Chinese foreign ministry spokesperson Lin Jian said on Tuesday. Ms Khaleda Zia is an old and dear friend of the Chinese people and has long committed to China-Bangladesh friendship. While in office as the prime minister of Bangladesh, she made an active effort to develop ChinaBangladesh ties and the two countries established the comprehensive partnership of cooperation featuring long-term friendship, equality, and mutual benefit, he said during his regular briefing. Ms Zia’s important contribution to promoting ChinaBangladesh friendship and the bilateral relationship will forever be remembered, he added. Khaleda Zia, Bangladesh’s former prime minister and chairperson of the Bangladesh Nationalist Party, passed away today.
Turkiye detains 110 suspects in operation targeting Islamic State after deadly clash
Afghan farmers taking heavy hit from opium poppy ban: UN KABUL
AGENCIES
Farmers in northern Afghanistan have yet to make up for lost income since the Taliban government banned poppy production for opium three years ago, the United Nations said. The ban has slashed poppy production overall to just 10,200 hectares (25,200 acres) this year, “one of the lowest levels ever recorded” in Afghanistan, the UN Office on Drugs and Crime (UNODC) said. However, it also resulted in a shift from traditional growing areas in the south to northern provinces further from the control of the Taliban authorities. In Badakhshan on the border with Tajikistan, surveyed in the agency’s most recent report, poppy production has jumped since the Taliban returned to power in 2021. In that province and in nearby Kunduz and Balkh, “on average, 85 percent of families… reported either no replacement or only partial replacement of their poppy income” after abandoning production, the report found. Many farmers are instead growing wheat and other cereals, but in 2023 “the average per-hectare income
Wednesday, 31 December 2025 | ISLAMABAD
ISTANBUL AGENCIES
from wheat was just $770, whereas opium poppy yielded around $10,000 per hectare”. “This income loss goes far beyond households, weakening rural purchasing power, reducing local economic activity, and increasing communities’ overall vulnerability to poverty and food insecurity,” said Oliver Stolpe, the UNODC’s regional representative. The agency urged more efforts to encourage growing of high-value crops such as saffron, nuts, herbs and fruits such as apricots and grapes, which are better suited to the arid and high-altitude landscapes.
Khaleda Zia, Bangladesh’s first female prime minister, dies at 80 after prolonged illness DHAKA
AGENCIES
Bangladesh’s first female prime minister, Khaleda Zia, died after a prolonged illness, her opposition Bangladesh Nationalist Party (BNP) said on Tuesday. Khaleda, aged 80, had advanced cirrhosis of the liver, arthritis, diabetes, chest and heart problems, her doctors said. “The BNP chairperson and former prime minister, the national leader Begum Khaleda Zia, passed away today at 6:00am (0000 GMT), just after the Fajr prayer,” the party said in a statement. “We pray for the forgiveness of her soul and request everyone to offer prayers for her departed soul,” it added. Interim leader Muhammad Yunus said Bangladesh “has lost a great guardian”. “Through her uncompromising leadership, the nation was repeatedly freed from undemocratic conditions and inspired to regain liberty,” the Nobel Peace Prize winner said in a statement. “I pray for the eternal peace and forgiveness of Begum Khaleda Zia’s soul,” ousted prime minister Sheikh Hasina said, in a statement on social media by her now banned Awami League party. Despite years of ill health and imprisonment, Zia vowed in November to campaign in elections set for February 2026 — the first vote since a mass uprising toppled her arch-rival Hasina last year. Zia’s BNP is widely seen as a frontrunner. But in late November, she was rushed to hospital, where, despite the best efforts of medics, her condition declined from a raft of health issues. Zia was jailed for corruption in 2018 under Hasina’s government, which also blocked her from travelling abroad for medical treatment. She was released last year, shortly after Hasina was forced from power. There had been plans earlier this month to fly her on a special air ambulance to London, but her condition was not stable enough. Her son, political heavyweight Tarique Rahman, only returned to Bangladesh after 17 years in self-imposed exile on Thursday, where he was welcomed back by huge crowds of joyous supporters. Rahman will lead the party through the February 12 general election, and is expected to be put forward as prime minister if his party wins a majority. Bangladesh declares three-day state mourning Bangladesh declared three days of state mourning, with Khaleda’s funeral to be held on Wednesday. Interim leader Yunus, in a television broadcast to the nation, appealed for calm. “I humbly appeal to everyone to maintain discipline while observing all forms of mourning, including the funeral prayers. I know you are all deeply emotional at this time,” Yunus said. “I hope that during this difficult period, you will show utmost patience and support one another in carrying out her last rites, including the funeral.”
Turkish police detained 110 suspects in an operation against Islamic State on Tuesday, a day after three police officers and six militants were killed in a gunfight in northwest Turkiye, the Istanbul chief prosecutors office said. Police conducted an eight-hour siege at a house in the town of Yalova, on the Sea of Marmara coast south of Istanbul, a week after more than 100 suspected IS members were detained in connection with alleged plans to carry out Christmas and New Year attacks. Eight police officers and another security force member were wounded in the raid on the property, which was one of more than 100 addresses targeted by authorities on Monday. In Tuesday’s operation, police carried out raids on 114 addresses in Istanbul and two other provinces, arresting 110 of the total 115 suspects that they sought, the prosecutor’s statement said.
Australian police say Bondi Beach mass shooting suspects ‘acted alone’, were not part of terrorist cell SYDNEY
AGENCIES
A father and son accused of a mass shooting at Australia’s Bondi Beach “acted alone” and were not part of a wider terrorist cell, police said on Tuesday. Sajid Akram and his son Naveed allegedly killed 15 people in an ISIS-inspired attack targeting a Jewish festival on December 14. The pair travelled to the southern Philippines in the weeks before shooting, fuelling suspicions they may be linked to extremists. Australian Federal Police commissioner Krissy Barrett said so far, this did not appear to be the case. “These individuals are alleged to have acted alone,” she told reporters. “There is no evidence to suggest these
alleged offenders were part of a broader terrorist cell, or were directed by others to carry out the attack.” Barrett said police would continue to probe why the pair travelled to the city of Davao, where CCTV showed they barely left their budget hotel. “I want to be clear. I am not suggesting they were there for tourism,” she said. Police believe the duo “meticulously planned” the attack for months, and have released pictures showing them training with shotguns in the Australian countryside. They also recorded a video in October railing against “Zionists” while sitting in front of a flag of the Islamic State group, police have said. Sajid Akram, 50, was shot and killed by police during the attack. An Indian national, he entered Australia on a visa in 1998.
NEWS 07
Wednesday, 31 December 2025 | ISLAMABAD
CORPORATE CORNER
SIAL carried out 3000 flights as million of passengers chose SIAL during 2025: Report ISLAMABAD
staff report
Sialkot International Airport (SIAL) stands as a testament to the far-sighted vision of the Sialkot Chamber of Commerce and Industry and the dynamic business community of Sialkot. Since commencing operations in 2007 and successfully completing 18 years of service, the airport continues to scale new heights in aviation excellence. During the year 2025, Sialkot International Airport served nearly one million passengers, offering premium travel facilities and seamless services. The consistent growth in passenger traffic reflects the airport’s strong operational performance and service quality. Throughout the year, nearly 3,000 international & domestic flight operations were conducted to and from SIAL. In 2025, domestic flight operations commenced at SIAL by Pakistani-origin airlines AirSial and Fly Jinnah, further enhancing national connectivity. Beyond passenger services, Sialkot International Airport continues to play a vital role in strengthening Pakistan’s economy by facilitating the export of thousands of tons of cargo annually.
AIOU approves market-oriented academic programs in psychology, media and business analytics
ISLAMABAD
staff report
Allama Iqbal Open University (AIOU) held a meeting of the Faculty Board of the Faculty of Social Sciences and Humanities under the chairmanship of the Dean of the Faculty, Prof. Dr. Abdul Aziz Sahir. During the meeting, the Schemes of Studies of BS, MPhil and PhD programs offered by various departments were reviewed in detail and approved. The approved programs include a two-year Associate Degree in Psychology, a four-year BS in Psychology, BS in Business Analytics, BS in Media and Communication Studies (Electronic Media) and BS in Media and Communication Studies (Digital Media Production). In addition, keeping in view the current needs of the media industry, ten job-oriented and marketbased face-to-face certificate courses in Mass Communication were also approved. The main objective of these courses is to equip students with practical skills and prepare them to meet the changing demands of modern media. The meeting also approved market-driven changes in the Scheme of Studies and courses of the PhD Media Studies program. On this occasion, Prof. Dr. Abdul Aziz Sahir stated that in accordance with the directives of the Vice Chancellor, Prof. Dr. Nasir Mahmood, all academic programs are being aligned with the policies of the Higher Education Commission (HEC).
Lahore Police step up anti-smog drive, arrests 519 for violation LAHORE
staff report
Lahore Police have arrested 519 people this year during a special campaign aimed at curbing smog, the police spokesperson said on Tuesday. According to the spokesperson, 511 cases were registered at various police stations for violations of smog-related standard operating procedures (SOPs). Action against smoke-emitting factories, shops and brick kilns led to the arrest of 483 individuals. The spokesperson added that 24 people were taken into custody for burning tyres, plastic and shopping bags, while another 12 were arrested for setting fire to crop residue and garbage. Capital City Police Officer Lahore Bilal Siddique Kamyana said indiscriminate action was under way against those contributing to smog. He said Lahore Police were working shoulder to shoulder with relevant line departments as part of the anti-smog drive. The CCPO said effective measures were also being taken against polluting transport, with traffic police continuing action against smoke-emitting vehicles. He stressed that public awareness and cooperation were essential to tackling air pollution.
PUNJAB LAUNCHES COUNTRY’S LARGEST TRACTOR SCHEME UNDER NAWAZ SHARIF’S VISION: PUNJAB CM
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CM MARYAM NAWAZ SAYS HISTORIC SCHEME AIMS AT STRENGTHENING FARMERS ECONOMICALLY, ENHANCE AGRICULTURAL PRODUCTIVITY LAHORE
staff report
NDER the vision of Pakistan Muslim League-Nawaz (PMLN) leader Muhammad Nawaz Sharif and the initiatives of Punjab Chief Minister Maryam Nawaz Sharif, the Punjab government has launched Pakistan’s largest tractor scheme, setting a new national record with the distribution of 30,000 tractors to farmers. The Chief Minister said that the historic scheme aims to strengthen farmers economically and enhance agricultural productivity across the province. Under the first phase of the Chief Minister Tractor Programme, 10,000 tractors with 50 to 75 horsepower have already been provided to farmers. She said that the second phase, which
includes 10,000 tractors with 75 to 85 horsepower, has been completed through a transparent balloting process, while the
distribution of tractors is currently under way. The Punjab government is providing a subsidy of up to Rs1 million per high-
Three-day ‘Mahfooz Basant’ to be celebrated in Lahore on Feb 6, 7, 8: Commissioner LAHORE
staff report
Commissioner Lahore Division Marryam Khan has issued instructions to the district administration Lahore to implement the Kite Flying Ordinance 2025 regarding “Mehfooz Basant” (Safe Basant) in Lahore district and said that a three-day “Safe Basant” will be held within the limits of Lahore district on February 6, 7, and 8, 2026. Kite flying is absolutely not allowed in Lahore district before February 6, 2026. She said that the sale of kites and strings will be allowed only from February 1 to February 8. The Commissioner Lahore said that under the Kite Flying Ordinance 2025, no motorcycle without safety rods will be allowed on Lahore roads during the three-day "Safe Basant". Kite flying material manufacturing will be allowed only in Lahore district, other districts should crack down. She said that the sale of kites and strings will be allowed only from February 1 to
February 8. The Commissioner Lahore Division also directed the nearby districts to crack down on kite flying in their areas. She said that all ACs must immediately crack down on it, there is no space for even zero negligence in the implementation of the Kite Flying Ordinance 2025. A meeting regarding “Safe Basant” was held in Lahore under the chairpersonship of Commissioner Lahore Division Marryam Khan. Commissioner Lahore Marryam Khan said that online registration of kite and string manufacturers, traders, and sellers has been started on the e-Biz app. Only registered manufacturers, traders, and sellers will be allowed to do business, while manufacturing and trading of permitted kite sizes and string types will be allowed until February 8, 2026. Commissioner Lahore Marryam Khan said that the notification of the District Administration Lahore under the Kite Flying Ordinance 2025 must be strictly implemented. Under the
BISP marks 18th death anniversary of Shaheed Mohtarma Benazir Bhutto
Kite Flying Ordinance 2025, motorcycle riders will be required to install safety wires/rods. The use of kite flying materials as prescribed in the ordinance and notification will be permitted. All registered manufacturers, traders and sellers will be required to display their certificates. Violation of the rules stipulated in the Kite Flying Ordinance 2025 will be subject to strict legal action. Commissioner Lahore further said that during the "Safe Basant" Cultural Festival, all departments will be supporting the district administration and police. The safety of human life is the top priority and there will be no compromise on "Safe Basant". Every step will be taken to protect the citizens and the citizens will also play their key role for "Safe Basant". The meeting was attended by DIG Operations Lahore, CTO Lahore, DC Lahore, Director Development Lahore, all Assistant Commissioners and other officers.
SIC information commissioners visit SDA head office in Jamshoro
ISLAMABAD
horsepower tractor. A total subsidy of Rs10 billion has been allocated for the high-power tractor scheme. Maryam Nawaz announced that the third phase of the tractor scheme will be launched in January, under which applications will soon be invited for the provision of 50 to 55 horsepower tractors to farmers. In addition, large tractors ranging from 100 to 120 horsepower will be provided on interest-free loans under the High-Tech Farm Mechanisation Financing Programme. The chief minister said the objective of providing tractors to Punjab’s farmers is to ensure economic selfreliance and achieve higher agricultural output. “Farmers becoming owners of their own tractors is a matter of great happiness,” she said, adding that the Punjab government is supporting farmers from sowing to the sale of crops.
CDA Board takes key decision at 18th meeting
ISLAMABAD
staff report
The 18th meeting of the Capital Development Authority (CDA) Board was held on Tuesday at the CDA Headquarters, chaired by Chairman CDA and Chief Commissioner Islamabad, Muhammad Ali Randhawa. The meeting was attended by CDA Board members including Member Admin Talat Mehmood, Member Finance Tahir Naeem, Member Engineering Syed Nafasat Raza, Member Planning and Design Dr. Khalid Hafiz, Member Environment Esfandyar Baloch along with other senior officers while Professor Dr.Muhammad Ali also attended the meeting. In the eighteenth meeting of the CDA Board, approval was granted for allocating sites at Mouza Malpur and Mouza Pindorian for establishment of model graveyards in the Federal Capital, Islamabad. Chairman CDA Muhammad Ali Randhawa directed that spacious funeral prayer facilities, ablution areas, public toilets, adequate parking and ambulance services, along with CCTV surveillance facilities, be provided in the model graveyards.
IIUI Job Fair 2025 strengthens academia industry linkages and student employability
KARACHI
staff report
A grand ceremony was organized by the Benazir Income Support Programme (BISP) to commemorate the 18th death anniversary of Shaheed Mohtarma Benazir Bhutto. Chairman Senate Syed Yousuf Raza Gilani attended the ceremony as the chief guest. Chairperson Benazir Income Support Programme Senator Rubina Khalid, Secretary BISP Amer Ali Ahmad, along with officers and staff of BISP, were also present on the occasion. Addressing the ceremony, Chairman Senate Syed Yousuf Raza Gilani paid rich tribute to Shaheed Mohtarma Benazir Bhutto and said that her martyrdom is an irreparable loss not only for Pakistan but also for the entire international community. He said that Mohtarma Benazir Bhutto was a symbol of hope and courage for all schools of thought and that she always raised her voice fearlessly for the rights of the people. She carried forward the mission of her respected father, Shaheed Zulfikar Ali Bhutto, with courage, perseverance, and vision. The Chairman Senate said that the Benazir Income Support Programme is a practical manifestation of the vision and people-friendly thinking of Shaheed Mohtarma Benazir Bhutto. With the launch of this programme, women of deserving households were empowered by being declared heads of their families, while their right to identity, financial inclusion, and voting was strengthened through the issuance of CNICs.
staff report
Information Commissioners of Sindh Information Commission (SIC) Muhammad Saleem Khan and Noor Muhammad Dayo under section 13(4) of Sindh Right to Information and Transparency Act 2016 visited head office of Sehwan Development Authority (SDA) at Jamshoro. They inspected record room, details of development projects, budget ,staff and other matters of the Authority. Information Commissioners expressed displeasure over nonfunctioning of website of SDA and directed the Director General to make it functional as soon as possible with proactive disclosures on it as required under section 6 of the said Act. They warned the officers of the Authority that noncompliance of directives of Sindh Information Commission is punishable under the Act. IC Muhammad Saleem Khan on the occasion said that access to information was the basic right of every citizen of Pakistan and that right is also protected under section 19-A of constitution of Islamic Republic of Pakistan. “Under RTI Act all government entities are bound to disclose public interest information”, he added. He further said that all government departments and institutions must appoint a designated officer of grade 16 or above as public information officer. IC Dayo said that non-disclosure of information or hide such information has penal consequences under section 15&16 of the Act.
ISLAMABAD
staff report
International Islamic University Islamabad (IIUI) organized Job Fair 2025 at its New Campus, providing a comprehensive platform for graduating students to engage with industry, employers, startups, and research-oriented organizations. The initiative aimed at translating academic learning into practical exposure aligned with contemporary market and industry requirements. The inaugural ceremony was addressed by IIUI President Prof. Dr. Ahmed Saad Alahmed, who welcomed the guests and highlighted the university’s commitment to academic excellence integrated with professional values. He emphasized that the study period of every student carries responsibility and purpose, and confidence in applying knowledge to real-life situations is essential for professional success. He appreciated the collective efforts of faculty members and organizing committees for strengthening academia–industry collaboration through such initiatives. President IIUI noted that job fairs play a vital role in bridging the gap between theoretical learning and practical application, enabling students to develop problem-solving abilities, adaptability, and innovation-oriented skills required in the evolving era of science and technology.
Security forces foiled foreign-funded plot involving innocent girl: Sharjeel KARACHI
staff report
Sindh Senior Minister Sharjeel Inam Memon on Tuesday disclosed that provincial police and intelligence agencies have thwarted a significant plot orchestrated by "enemy countries," which involved luring a young girl to carry out an attack on civilians. In a statement, he stated that the operation was backed by foreign funding and urged parents to monitor their children"s activities, warning against "false narratives" spread through social media to exploit the nation"s youth. The minister’s comments were made during an inauguration ceremony organised by the Sindh Transport Department to officially connect the Orange Line and Green Line Bus Rapid Transit (BRT) services. Mr
Memon, who also holds the portfolio for Information, Transport and Mass Transit, launched the integrated route which establishes a direct link from Orangi to Numaish. This integration addresses long-standing commuter complaints regarding transfer difficulties and the need to pay two separate fares. Authorities have confirmed that the entire journey can now be completed on a single ticket, a development anticipated to benefit one hundred thousand travellers daily. During the event, Mr Memon noted a substantial increase in public transport usage, with the Green Line"s ridership growing from 55,000 to approximately 80,000 during the tenure of the current federal government. He highlighted that fares have been kept minimal and that the vehicles are equipped with security cameras and other modern facilities. Further enhancements to the city's trans-
port network were also announced. The minister revealed plans to operate separate buses for women on both the Green and Orange Lines. Additionally, he declared the launch of double-decker buses, scheduled to begin service from the following day as a "New Year gift," initially operating on a route from Malir to Shahrah-e-Faisal, with more to be introduced later. The arrival of new electric vehicle (EV) buses was also confirmed. In response to media questions, the senior minister renewed a request to the Prime Minister to fulfil a promise of providing 150 buses for Karachi. He also issued a stern warning that no one would be permitted to illegally occupy government land. Addressing rising societal intolerance, Mr Memon condemned recent incidents of violence, such as a killing over a social media argument, stating that weak argu-
ments should not lead to aggression. He asserted that personal disputes must not be
misconstrued as tribal conflicts and that the law will take its due course in all such cases.
Wednesday, 31 December, 2025
TALKS HAVE NO ALTERNATIVE NO MATTER HOW INTENSE PROTEST MOVEMENT BECOMES: BARRISTER GOHAR NEWS
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RAWALPINDI
staff report
AKISTAN Tehreek-e-Insaf (PTI) Chairman Barrister Gohar Ali Khan on Tuesday said the political system had become “stagnant” for his party and warned that 2026 could also turn into a “year of punishments” unless those in power show flexibility and initiate dialogue, stressing that “no matter how intense the protest movement becomes, negotiations have no alternative.” Speaking to reporters at the Dahgal checkpoint near Adiala Jail, Gohar said PTI leaders visit the site every Tuesday but return after waiting for hours without being allowed to meet the party leadership. “We come here every Tuesday and leave after waiting for hours despite being allotted time,” he said. Gohar said the party was being forced to “beg for meetings,” adding that responsibility did not rest solely with political opponents. “In begging for meetings, not only others but our own people are also involved,” he remarked. He said talks were not progressing
in line with the gravity of the situation and urged the authorities to act with restraint and compassion. “I request those in power to show some compassion for this country,” he said. “Find a way so that the situation can improve.” The PTI chairman said party founder Imran Khan, his wife Bushra Bibi, and 16 PTI parliamentarians had already been sentenced, lamenting that political tensions continued despite a ceasefire with the external enemy. “Despite a ceasefire with the enemy,
Pakistan condemns Israel’s ‘unlawful’ recognition of Somaliland at UN
PM, President condemn reported targeting of Russian President’s residence as ‘heinous act’ ISLAMABAD/MOSCOW staff report
UNITED NATIONS staff report
our internal tensions are not ending,” he said, questioning why meetings that had previously been permitted were now being obstructed. “At the very least, permission should be granted for Bushra Bibi to meet,” he added. Gohar maintained that the PTI had never called off negotiations and that he had received no instructions from the party founder to abandon talks altogether. “I have received no direction that there will be no talks from now on,” he said, adding that Imran Khan had, however, issued instructions to prepare for a
street movement. “Protest is our constitutional right,” he stressed. Commenting on internal party matters, Gohar said the recent Lahore visit of Khyber Pakhtunkhwa Chief Minister Sohail Afridi was carried out on the instructions of the PTI founder and not through party consultation. He added that the authority to negotiate on behalf of the PTI rested with Mahmood Khan Achakzai and Allama Nasir Abbas. Meanwhile, PTI Secretary General Salman Akram Raja said there was no conducive environment for negotiations in the country, accusing the authorities of violating basic human rights by denying meetings between the jailed PTI founder and his family. “The PTI founder and his sisters have the right to meet. No one can decide to keep him in solitary confinement,” Raja said, calling such conduct a violation of fundamental human rights. He said PTI leaders would continue visiting the site despite knowing that meetings would not be allowed. “We know we will not be allowed to meet, but we will keep coming here and keep shaking the conscience of the state,” he said.
Pakistan on Tuesday strongly condemned Israel’s “direct assault” on Somalia’s unity and territorial integrity, warning that Tel Aviv’s “unlawful” recognition of the “Somaliland” region could destabilize the Horn of Africa, undermine Mogadishu’s sovereignty and weaken Somalia’s political cohesion, as the UN Security Council debated recent developments related to the move. “The ‘Somaliland’ region remains an integral, inseparable, and inalienable part of Somalia. No external actor has either the legal standing or the moral authority to alter that fundamental reality,” Ambassador Usman Jadoon, Pakistan’s deputy permanent representative to the United Nations, told the 15-member Council. “Any action that diverts attention, weakens cohesion, or fuels division is profoundly irresponsible,” he added. The Pakistani envoy said Israel’s prolonged occupation of Palestinian land has remained a central source of instability and conflict in the Middle East for decades, warning that such destabilizing conduct was now being exported to the Horn of Africa. Most speakers during the debate decried Israel’s decision in clear terms, with only the United States and Israel defending the move. Israel “has the same right to conduct diplomatic relations as any other sovereign State,” United States Deputy Permanent Representative Tammy Bruce told the Council. However, she clarified that Washington had made no announcement regarding recognition of “Somaliland” and that there had been no change in US policy. Israel’s announcement triggered broad regional and international pushback, including a joint statement by 20 Middle Eastern, Asian and African countries rejecting and condemning the action. Pakistan is among the signatories.
Prime Minister Shehbaz Sharif and President Asif Zardari on Tuesday condemned reports of an attempted attack on the residence of Russian President Vladimir Putin, terming it a “heinous act” and warning that such actions pose a grave threat to peace, security and stability at a time when efforts to end the Ukraine war are underway. In a post on X, the prime minister said, “Pakistan condemns the reported targeting of the residence of His Excellency Vladimir Putin, president of the Russian Federation.” He said such a “heinous act constitutes a grave threat to peace, security and stability, particularly at a time when efforts aimed at peace are underway.” “We reiterate our firm rejection of all forms of violence and acts intended to undermine security and threaten peace,” he added. While the premier did not name any country, Russia has accused Ukraine of attempting to attack President Putin’s residence and has vowed retaliation—a claim Kyiv dismissed as baseless and aimed at derailing ongoing peace efforts. Separately, President Asif Ali Zardari on Tuesday expressed concern over reports of an attack on the residence of President Vladimir Putin, cautioning that such incidents risk undermining ongoing efforts aimed at a peaceful resolution of the conflict.
prayer timings FAJR SUNRISE
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GDP grows 3.71% in first quarter as industrial rebound drives early year momentum 6:20
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PROFIT
staff report
Pakistan’s economy grew 3.71% in the first quarter of FY26, according to figures shared by Planning Minister Ahsan Iqbal, marking a sharp improvement over the revised 1.80% growth recorded in the same quarter of FY25. The year-on-year difference of 2.15 percentage points signals an early shift in the macroeconomic trajectory compared to last year’s pattern of gradually accelerating quarterly growth. Announcing the GDP growth ahead of Pakistan Bureau of Statistics’ (PBS) Quarterly National Accounts release, Iqbal mentioned unrevised growth figures from the previous year, overstating the growth on X. Meanwhile revised national accounts data for FY25 show quarterly GDP expansions of 1.80% in Q1, 1.94% in Q2, 2.79% in Q3, and 5.66% in Q4, resulting in a full-year growth rate of 3.04%. Pakistan’s economy was valued at $407.2 billion at the end of FY25, with per-capita income estimated at $1,812. Ahsan Iqbal noted that the improvement in Q1 FY26 is driven largely by industrial output, which expanded 9.38%, a substantial jump from just 0.12% in Q1 FY25. The minister described this as “a qualitative change” in the composition of growth, pointing to a broader base emerging earlier in the fiscal year. He also highlighted that the economy is posting gains despite the 2025 flood shock, the withdrawal of energy subsidies, fiscal consolidation measures, and continued food-price pressures. These constraints had weighed on the macroeconomic environment through much of FY25, with growth strengthening only in the final quarter.
PIA to resume flights to London after six-year hiatus ISLAMABAD
staff report
In a statement issued from the Presidency on Tuesday, the President said that at a critical moment, when talks to end the war are at a sensitive stage, actions that escalate tensions are extremely counterproductive. He urged both sides to exercise the highest degree of restraint and to direct their actions towards the success of dialogue and diplomacy. President Zardari emphasised that peace remains the only viable path forward and that restraint and responsibility are essential to prevent further deterioration of the situation. The sharp exchanges between the two warring neighbours on Monday, including Moscow’s statement that it was reviewing its stance in negotiations in response to the alleged attack, dealt a fresh blow to prospects for peace in Ukraine. US President Donald Trump said President Putin informed him about the alleged incident during a phone call on Monday morning, adding that it had angered the Russian leader. However, Trump reiterated his belief that a peace deal could still be within reach.
“It’s one thing to be offensive,” Trump told reporters. “It’s another thing to attack his house. It’s not the right time to do any of that. And I learned about it from President Putin today. I was very angry about it.” On Sunday, Trump met Ukrainian President Volodymyr Zelenskiy in Florida and said the two sides were “getting a lot closer, maybe very close” to an agreement to end the war, although “thorny” territorial issues remained unresolved. On Monday, President Putin struck a defiant tone, instructing his forces to press ahead with efforts to seize full control of Ukraine’s Zaporizhzhia region. The Kremlin also reiterated demands for Kyiv to withdraw its troops from the remaining areas of the eastern Donbas region under Ukrainian control. According to a Kremlin aide, Putin told Trump during their phone call that Russia, which invaded Ukraine in February 2022, was reviewing its negotiating stance following the reported drone attack.
Azma Bokhari walks out in solidarity with journalists over KP CM visit chaos LAHORE
staff report
Punjab Information Minister Azma Bokhari on Tuesday staged a walkout from the Punjab Assembly in solidarity with journalists boycotting the legislature over alleged “ill-treatment” during Khyber Pakhtunkhwa Chief Minister Sohail Afridi’s recent visit. The development follows a letter sent by KP Chief Minister Afridi to Punjab Chief Minister Maryam Nawaz on Monday, in which he expressed “deep concern” over the treatment he received in Lahore, describing it as marked by “discourtesy and unnecessary hostility.” During his three-day visit to Lahore
over the weekend, Afridi addressed opposition MPAs at the Punjab Assembly. The visit, however, was marred by clashes between members of his entourage and security personnel, while heated exchanges between PTI leaders and journalists were also reported. Speaking during Tuesday’s assembly session, Azma Bokhari staged a walkout to support journalists from the Punjab Assembly’s press gallery, alleging they had been “beaten and pushed around” by individuals accompanying the KP chief minister. Her protest came after opposition member Col. (retd) Shoaib Amir sparked outrage during Monday’s session by calling members of the press gallery “sellouts.”
Pakistan International Airlines (PIA) announced on Tuesday that it will resume direct flights between Islamabad and London starting March 29, 2026, marking the return of the national carrier to the British capital after a six-year hiatus. The airline will operate four weekly flights from Islamabad to Heathrow Airport’s Terminal 4. According to a PIA spokesperson, London holds special significance for the airline as its “first-ever” international destination and remains one of its most strategically important routes. The spokesperson added that the airline currently operates three weekly flights to Manchester and will gradually expand UK operations alongside the London route. PIA’s return to London comes after a series of regulatory hurdles. In June 2020, the European Union Air Safety Agency barred the airline from operating in EU countries over safety concerns, following the crash of a Lahore-Karachi flight near Jinnah International Airport that claimed nearly 100 lives. The ban was lifted more than four years later, on November 28, 2024. In July 2025, the United Kingdom removed Pakistan from its Air Safety List, clearing the way for Pakistani airlines to resume flights to the UK. Earlier this year, in September 2025, PIA received approval to restart direct flights to the United Kingdom, beginning with Manchester. The airline had also outlined plans to extend services to Birmingham and London. The March 2026 resumption marks the next phase of reconnecting Pakistan with its key international markets in the UK. The national flag carrier emphasized that the resumption of flights underscores its commitment to rebuilding confidence in its international operations and strengthening connectivity between Pakistan and Europe.
LHC petition challenges notification allowing Basant in Lahore LAHORE
staff report
A petition was filed in the Lahore High Court on Tuesday challenging the Punjab government’s notification permitting the celebration of Basant in Lahore, citing public safety risks and past fatal incidents linked to kite flying. The petition was moved by the Judicial Activism Panel, which named the Punjab government and other relevant authorities as respondents. The petitioner contended that the notification issued by the Lahore deputy commissioner allowed three days of Basant celebrations despite repeated incidents of serious injuries and deaths caused by hazardous kite strings. Referring to previous tragedies, the petitioner reminded the court that several people had lost their lives in earlier years after metal or chemical-coated strings slit their throats. It further stated that only two days ago, a twoyear-old girl sustained injuries after coming into contact with a kite string, raising concerns about the effectiveness of safety measures.
Consumers to get New Year relief as fuel prices likely to fall by up to Rs10 from Jan 1 PROFIT
staff report
Consumers may see meaningful relief at the start of the new year, as petroleum prices are projected to decline across the board from January 1, 2026, with petrol prices expected to fall by up to Rs10.60 per litre. The projected revision indicates reductions in petrol, high-speed diesel, kerosene oil and light diesel oil, easing pressure on household budgets and transport costs at a time when inflation has remained a key concern. At the ex-depot level, which determines consumer prices, petrol is projected to decline from Rs263.45 to Rs252.85 per litre, while diesel prices may fall from Rs265.65 to Rs257.06 per litre. Kerosene oil and LDO prices
are also projected to drop by similar margins. At the ex-refinery level, petrol (PMG) is projected to fall by Rs10.60 per litre, from Rs156.66 to Rs146.06. High-speed diesel (HSD), the most widely used fuel in the economy, is expected to decline by Rs8.59 per litre, from Rs164.92 to Rs156.33. Kerosene oil prices are projected to decrease by Rs8.92 per litre, while light diesel oil (LDO) may come down by Rs6.62 per litre, reflecting a broad-based downward trend. The anticipated cut in fuel prices is expected to provide direct relief to consumers, particularly motorists and public transport users, while also helping to ease inflationary pressures through lower freight and logistics costs. Diesel prices are considered especially critical, as HSD is extensively used in freight
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transport, public buses, agricultural machinery and power generation, making it a key driver of food and commodity prices. Petrol is mainly consumed by private vehicles and motorcycles, making it the most visible fuel for urban households. Kerosene oil is primarily used by low-income households in remote areas for cooking and lighting, while LDO is consumed by industrial units, generators and agricultural operations, particularly in areas facing electricity shortages. If implemented, the projected price reductions would offer a positive start to 2026, providing consumer relief and cost support across key sectors of the economy. Final prices will be announced following the government’s pricing review and adjustment of applicable taxes and levies.