PAKISTAN STOCK MARKET REBOUNDS STRONGLY AFTER RECORD FALL , IMF OPTIMISM REL A XES INVESTORS
Federal budget to be presented on June 2; PSDP slashed by 16% to Rs921b
The
an allocation of Rs921 billion for the Public Sector Development Program (PSDP) marking a 16% cut from the revised Rs1 1 trillion allocated for the current fiscal year Although the Planning Commission had proposed a signifi-
cantly higher amount of Rs2 9 trillion based on the consolidated demands of various ministries the Ministry of Finance approved an Indicative Budget Ceiling (IBC) of only Rs921 billion Iqbal expressed concern over the reduced allocation and said he would push for an increase to at least Rs1 6 trillion to secure Rs700 billion in rupee cover for foreign-funded development projects So far Rs900 billion has been authorized for release under the ongoing year s PSDP with additional disbursements expected over the remaining
months of May and June The Annual Plan Coordination Committee (APCC) is set to meet on May 23 to finalise the development framework while the National Economic Council (NEC) is expected to approve macroeconomic targets and the PSDP by May 26 or 27 Due to the tight budget ceiling, provincial schemes included in the PSDP will see significant reductions and around 200 projects that have shown limited progress will be discontinued altogether to ensure better resource allocation
Bolan Castings extends production halt to May 23 amid slumping orders
IN D I A does not seem to have recovered from the downing of five aircraft on Tuesday/Wednesday night as it was reduced to making wild claims that only exposed it to further embarrassment this time the embarrassment of ridicule rather than that of incompetence India has claimed to have downed an F16 and a Jf-17 Thunder The F-16 has been a problem for India, especially perhaps because it has not been scrambled by the PAF, while the Jf-17 had to be shown as vulnerable because responsible for downing the IAF s Rafales The Indian embarrassment has increased after the international media, while examining the facts, seems to be unable to avoid confirming that the planes have been indeed shot down Further, the Indian launch of its drone fleet seems to have achieved no result through Indian sources have claimed to have knocked out Lahore’s air defences even though the next day saw another salvo of drones without any better results Apart from the IAF’s blushes its performance has also thrown into doubt the NJP government’s narrative about its ability to go into hostile territory and extract retribution There seems to have been a ratcheting up of the international efforts to broker peace While the USA, through Secretary of State Marco Rubio, is encouraging both Pakistan and India to engage in direct dialogue, US Vice President J D Vance has expressed doubt that the USA should get involved It should be remembered that he is hardly an honest broker, having been in India on a family visit when the Pehelgam incident took place His wife is of Indian origin and it seems that he is spouting the Indian government’s tune India does not want to have anything about the Pehelgam incident or ensuing events examined objectively for fear of exposure Secretary Rubio should probably pay attention to the crescendo of voices from other countries It is not a matter of talking to both countries The peace of the world is threatened by this stand-off, and if the USA has any claim to being a superpower, then he has to make India stand down Pakistan intends to respond to the death of its citizens, and it has to continue defending itself against Indian aggression There is a danger, remote but growing closer, that India might be merely buying time to complete preparations, and to use the Pakistani response to launch its own attack Pakistan will defend itself and ascend the escalatory ladder Someone has to knock some sense into India’s head before that
Dedicated to the legac y of late Hameed Nizami Arif Nizami (Late)
Founding Editor
M A Niazi Editor Pakistan Today Babar Nizami Editor Profit
From peace to pressure: Can the Indus Water Treat y withstand 21st century realities?
YE S the Indus Water Treaty IWT can withstand the 21st-century realities with some amendments because it has survived the wars of 1965 1971 1999 and the incidents of Pulwama and Uri Now, after the recent Pahlagam incident in Indian-occupied Kashmir IOK has raised threats to the Indus Water Treaty India has suspended the treaty but has not yet terminated it officially The Indus Water Treaty is a sign of mutual dependence for both India and Pakistan and it is considered one of the most effective water sharing treaties in the world Therefore both states cannot afford to withdraw from this treaty, and legal termination of the treaty requires the consent of both adversaries The 1947 partition of British India not only divided the land and people but also divided the important river system In 1948 India blocked the water supply to Pakistan and that was a major turning point in thinking about water security The Indus Water Treaty was signed on 19 September 1960, in Karachi It is a water-sharing agreement between India and Pakistan and World Bank WB is a signatory/mediator of this treaty The IWT was about the sharing of six important rivers between India and Pakistan Under Article 2 of the Indus Water Treaty the three Eastern rivers (Ravi Beas Sutlej) were allocated to India Under Article 3, the Western rivers (Indus, Jhelum, Chenab) were given to Pakistan The Eastern rivers used by India will be unrestricted and Pakistan has no right to use them while the western rivers will be unrestricted for Pakistan to use them but also India can use them for domestic use no consumptive use agriculture use, and generation of HEP There is a permanent Indus commission under the Indus water treaty That commission includes two commissioners each from both states They are funded by their governments A three-stage mechanism is given in the treaty to resolve any dispute regarding water or rivers The first stage is the Permanent Indus Commission and when any question or issue is raised then it is presented in front of both commissioners from each state who try to resolve it through dialogue When the problem is not resolved the second stage starts and the issue is submitted to neutral experts who look into the differences When the second stage fails to resolve the issue then the last and third stage starts and the Permanent Court of Arbitration, a stage of the dispute At this stage, legal steps have been taken After completion of 65 years, the Indus Water Treaty is still a functional and a unique example of India and Pakistan’s cooperation even during wars conflicts and diplomatic tensions But now the recent
The Palestinian Genocide
Pahlagam incident and the 21st century pressure present threats to the Indus water treaty but it does not seem to be terminated but needs some changes and advancement By looking into the history of the Indus Water Treaty then we can understand that despite wars, conflicts, and diplomatic tension between Pakistan and India, the treaty remains alive and persistent Because three important factors help in sustaining of Indus Water Treaty Mutual dependence Legally structured and binding International pressure
In the 1965 War, both states engaged in full-scale war but neither terminated the treaty because both states needed water for survival for example in agriculture energy and other aspects that’s why they thought rationally and kept the IWT separate from war Moreover from the past incidents and events it s clear that they were/are not willing to terminate the treaty If India tries to stop or block the water then it will be considered as an act of war by Pakistan Similarly, this act will encourage
It is clear that the suspension of the Indus Water Treaty by India after the Pahlagam incident is not likely to be permanent, but it will be suspended for some time . India seeks some chang es and transformation in the Indus Water Treaty, which is why India suspended the treaty Moreover, Pakistan can retaliate if India stops or blocks water to Pakistan
Tunity and our resources if we cannot protect the most oppressed among us? This is not just a Palestinian issue It is a test of our collective conscience Today, it is Gaza Tomorrow, it could be anywhere Genocide cannot be normalized Racism cannot be tolerated Ethnic cleansing cannot be justified If we allow it to continue we will lose a part of our humanity As people of conscience we must all stand with Palestine– not just in prayer and slogans but in action and resistance We must pressure governments, boycott companies involved in Israeli war crimes, support Palestinian voices, and refuse to accept media narratives that portray the oppressor as the victim We must rewrite our own story because the mainstream narratives fail to capture the truth We must be clear: Israel is not defending itself It is erasing a nation And those who support it through weapons, silence, or propaganda are complicit in genocide History will judge this moment It will remember who stood for justice and who stood for genocide The Palestinian people have shown unparalleled resilience Now it is time for the Muslim world to stand up for them, and for the West to consider its role in establishing one of the greatest human rights treaties ever The writer is a freelance columnist
Pakistan’s resolve
India still smar ts from downing of its planes
Azizul HAkim RAkib
China says
Xi,
Putin reached consensus on major issues during Moscow visit
on global strategic stability, reiterating that the two sides will endeavor to practice true multilateralism and support the central role of the UN and relevant multilateral mechanism The two sides stressed that nuclear-weapon states should reject Cold War mentality and zero-sum games address concerns via dialogue and consultations on an equal footing and build confidence to avoid dangerous miscalculations This demonstrates China and Russia s sense of responsibility as major countries for upholding and enhancing global strategic stability,” Lin said Additionally the two heads of state issued a joint declaration on further strengthening cooperation to uphold the
authority of international law reiterating the two countries full commitment to the principles of international law including the United Nations Charter and the Five Principles of Peaceful Coexistence and opposition to the abuse of unilateral sanctions and long-arm jurisdiction Lin commented that the declaration sent a strong message of resolutely upholding the international order based on international law to the international community The spokesperson reiterated Xi’s key statements about China-Russia relations Xi said that China and Russia are good
neighbors and true friends and that their bilateral relationship doesn t target any third party and it s not subject to restrictions from any third party Xi also stated that the two countries need to deepen political mutual trust strengthen practical cooperation and enhance solidarity to safeguard true multilateralism and steer global governance towards the right direction
As this year marks the 80th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression the Soviet Union’s Great Patriotic War and the World Anti-Fascist War Lin reemphasized President Xi s remarks about upholding the correct historical perspective on WWII During Xi s visit, he said that facing unilateralism, power politics and bullying acts in the world China and Russia as two major countries and permanent members of the UN Security Council will shoulder responsibilities to uphold the correct historical perspective on WWII, safeguard the authority and standing of the UN, firmly defend the victorious outcome of WWII, resolutely defend the rights and interests of China Russia and all other developing countries and jointly promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization
In his first appearance, Pope Leo offers three big clues about his papac y
p o p e s a i d h e w a n t e d t o s h a r e G o d ’s p e a c e c a l l i n g i t a d i s a r m e d p e a c e a n d a d i s a r m i n g p e a c e t h a t i s h u m b l e a n d p e r s e v e r i n g L e o a l s o m e n t i o n e d F r a n c i s w
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d s i n R o m e o n E a s t e r S u n d a y, t h e d a y b e f o r e h e d i e d o f a s t r o k e a f t e r b a t t l i n g d o u b l e p n e u m o n i a f o r w e e k s “ We s t i l l h a v e i n o u r e a r s t h a t w e a k b u t a l w a y s c o u r a g e o u s v o i c e o f P o p e F r a n c i s h e s a i d L e o a s k e d p e r m i s s i o n t o o ff e r t h e s a m e b l e s si n g F r a n c i s u s e d j u s t a f e w w e e k s a g o , s a y i n g : “ G o d l o v e s u s , G o d l o v e s e v e r y o n e a n d e v i l w i l l n o t p r e v
China, Russia hold talks on US tariffs and economic cooperation
MOSCOW
CM MARYAM, FINNISH
under spirit of citizen protection and public ser vice: CDA Chief
theft and strongly urges its customers to come forward and report such incidences through their helpline 1199, or by mentioning it on any of SSGC’s social media pages or by calling/ visiting their E/Physical Kachehri and reporting the gas theft cases there Gas theft is a serious crime against the community and the Company will always show zero tolerance to their heinous crime
