SSGC swings to Rs8.29b
debts totalling Rs 47 48 billion from K-Electric (KE) and Pakistan Steel Mills (PSML) A significant portion of these receivables is overdue, and disputes over Late Payment Surcharge (LPS) remain unresolved The auditors noted that the company s decision to recognise LPS on a receipt basis adds uncertainty to the recovery timeline Additionally, the auditors emphasised other risks, including pending legal cases with uncertain outcomes and an accrued markup of Rs 276 08 billion related to government-controlled entities which remains unrecognised based on government advice In FY 2023, SSGC faced significant financial headwinds, reporting a consolidated loss of Rs 836 million The company struggled with high operating expenses tariff adjustments and liquidity constraints The loss per
turer and contained no broad-based fuel efficiency comparisons AMRI also clarified that the document merely included general energy-saving guidelines and was not a certification of any model’s performance Despite AMRI s objection AGTL continued to promote the claim as universally applicable prompting complaints from stakeholders and eventually leading to the issuance of a show cause notice by the CCP in January 2024 In its defense, AGTL challenged the notice, arguing that the Com-
share of Rs 0 95 reflected these challenges, compounded by rising finance costs and unresolved receivables SSGC’s directors cited delayed determinations and notifications of prescribed prices by OGRA as well as inadequate subsidy disbursements as major obstacles in cost recovery The company also highlighted its reliance on short-term borrowings to finance operations a stopgap measure that is inflating its interest burden The utility emphasised that its losses are regulatory in nature and that the accounting treatment for revenue shortfalls and UFG adjustments will be subject to future decisions by OGRA The company maintains it is operating under the assumption of a going concern bolstered by government support and expected tariff adjustments For FY 2024 the Board of Directors recommended no cash dividend, bonus shares, or right shares, maintaining a conservative approach amid ongoing financial and operational challenges The Annual General Meeting (AGM) is scheduled for June 16 2025 in Karachi While SSGC has demonstrated improved profitability in FY 2024, the company’s financial health remains under pressure due to unresolved receivables, litigation risks and high leverage The company s stock saw an immediate uptake after the announcement of the results marking an intraday gain of 7 65% Sui Southern Gas Company Limited is a leading natural gas utility in Pakistan, responsible for transmission and distribution in Sindh and Balochistan The company plays a critical role in the country s energy sector
mission had neither conducted a formal inquiry nor accurately interpreted the advertisement However the CCP bench comprising Chairman Dr Kabir Ahmed and Member Salman Amin ruled that sufficient evidence existed to proceed under Section 30 of the Competition Act, which deals with deceptive marketing practices The Commission underscored the impact of such misleading claims on small farmers who form the backbone of Pakistan s agricultural sector In many cases a tractor represents a once-in-adecade investment, and false claims about fuel efficiency can misguide their purchasing decisions, potentially worsening their already fragile financial circumstances
KP ’s Rs13b solar project faces hurdles due to bureaucratic delays, procurement issues
premature opening of bids without proper approval from the PDWP has raised questions regarding the transparency of the entire process Zubair Khan, the Secretary of Energy and Power, defended the actions of Pedo, stating that the project had been initiated upon the Chief Minister ’s direction and that all objections raised by the PDWP
Pakistan has yet to receive official communication from India regarding the resumption of talks on the Indus Water Treaty (IWT) which India suspended unilaterally on April 23 2025
This move followed the Pahalgam incident which resulted in the deaths of 26 tourists in Indian-occupied Jammu and Kashmir (IOJ&K)
Authorities in Islamabad have reported fluctuations in water inflows from IOJ&K, particularly at the Marala headworks on the Chenab River where variations of 8–10% are being recorded with no consistent pattern Pakistan s concern regarding the IWT is compounded by ongoing military tensions, although a ceasefire agreement is in place The Director Generals of Military Operations (DGMOs) from both countries held talks via hotline on Monday evening aimed at de-escalating tensions after the Pahalgam attack
The Indus Water Treaty brokered by the World
Bank in 1960 governs the sharing of water between the two countries Under the treaty, India controls the eastern rivers Sutlej, Beas, and Ravi while Pakistan is allocated water from the western rivers Indus Chenab and Jhelum Over the years Pakistan has raised objections to India s hydroelectric projects on the Jhelum and Chenab rivers bringing these matters before the International Court of Justice (ICJ) and the World Bank Legal experts in Pakistan maintain that India cannot unilaterally suspend the treaty,
talks Pakistan’s primary agenda for any future discussions would include the restoration of the Indus Water Treaty the Kashmir issue and India s alleged support for anti-Pakistan elements in Balochistan and
The peace holds
DGMOs’ talks indicate that peace is returning to the region
AS agreed on Saturday, the Directors General of Military Operations of India and Pakistan got in touch on Monday morning, and talked of how the ceasefire between the two countries was still holding up A significant measure agreed by the DGs was the reduction of troops on the borders which means that units which had moved up during the recent confrontation would move back to peacetime locations Another sign of normalcy was the rise of the Pakistan Stock exchange which headed towards recovering its losses since the threat of an Indo-Pak conflict arose The benchmark KSe100 index rose 10,123 points, its largest single one-day rise
The stakes were defined by US President Donald Trump, who said that the USA had prevented a bad nuclear war Indian Prime Minister narendra Modi tried to throw the blame on Pakistan for this by saying that India would accept no further nuclear blackmail, and saying that the new normal was going to be India responding to terrorism as it did The problem he did not address is that there was no evidence presented The world did not accept Indian claims this time It could be claimed as a failure of Indian diplomacy, or it could be said that the Indian claims were so far from reality that no one even with the best will in the world could accept them Mr Modi tried to play as if he had a strong hand saying that India would not accept any talks except over that part of Kashmir in Pakistan’s hands and terrorism Pakistani Defence Minister Khwaja Asif also outlined an agenda including water resources, apart from the whole of Kashmir If Mr Modi’s misadventure has achieved anything, it has been to bring back the settled issue of the Indus Waters Basin to the negotiating table
That is hardly a
A Niazi
WAh e n Modi launched an attack on Pakistan by sending planes to target an alleged terrorist camp at Balakot in February 2019 in the backdrop of a false-flag operation at Pulwama he was probably under the self-perceived illusion that Pakistan would not be able to counter the Indian assault and that his government by establishing its ascendancy would comfortably reap political advantage in the shape of winning the ensuing elections however, that effort backfired as Pakistan gave a befitting response to the Indian indiscretion by downing its two planes and capturing one of its pilots besides inflicting heavy losses on Indian forces in Indian-Occupied Kashmir The situation might have snowballed into a full-fledged war but the timely intervention by friendly countries and the restraint shown by Pakistan defused the situation India was left licking her wounds Modi had regretted the fact that things could have been different if India had received timely finalization of the deal with France for purchase of its most sophisticated air birds Rafale It was in the backdrop of the insult that India had to endure that the efforts for acquisition of Rafale planes were fast-paced and India finally clinched the deal for purchase of 36 Rafale Planes that were delivered between 2020 and 2022 Last month it signed another deal for the purchase of 26 more Rafale fighters for $7 4 billion which will be delivered by 2030 India also signed a $5 3 billion contract for five S-400 squadrons with Russia in October 2018 in spite of US threats of sanctions Three squadrons have already been delivered while the other two will be delivered in 2026 It also acquired a sufficient quantity of Israeli harop drones to strengthen its arsenal It was probably the acquisition of the foregoing war equipment that gave Modi encouragement to not only settle scores with Pakistan for the defeat in 2019 but also to derive maximum political advantage on the eve of the impending elections in Bihar The Indian government orchestrated another false-flag operation at Pahalgam to find an excuse to commit aggression against Pakistan however contrary to her expectation the aggression against Pakistan has again re-loaded an insult on India as not only five of its attacking planes including three Rafales were downed but a brigade headquarters in Indian-held Kashmir was also destroyed by Pakistan while taking defensive action Pakistan did not respond to this aggression immediately and exercised utmost restraint with a view not to escalate the situation however it made an unswerving commitment to giving a befitting answer to India if it did not relent Meanwhile it also sought help from friends and other countries to defuse the
B e f i t t i n g r e s p o n s e t o I n d i a n a g g r e s s i o n
situation Some countries did make efforts at the diplomatic level to ensure de-escalation But India did not pay any heed to these efforts and started attacking Pakistan with Israeli-made harop drones which were also effectively neutralized and they caused very little damage wherever they landed That hit the limits of Pakistani patience and it launched retaliatory attacks on a number of Indian targets with missiles and drones inflicting extensive damage on defence installations and airbases India which was adamant in not giving a positive response to calls for de-escalation having realized the folly of underestimating Pakistani military prowess then showed her willingness for a ceasefire as a result of diplomatic efforts by USA, Saudi Arabia and Turkiye Pakistan also agreed and finally President Trump announced the agreement regarding cessation of hostilities between the two countries The fact of the matter is that it was India which sought US mediation after powerful response from Pakistan In this regard a corroborative assertion was made by a Cnn journalist who revealed that Pakistan s retaliatory strikes in response
I f y o u w a n t o t h e r s t o h e a r y o u , l i s t e n t o t h e m f i r s t Wi n n i n g f r i e n d s a n d i n f l u e n c i n g p e o p l e
Hajj hopes in jeopardy
the aftermath of the 9/11 terrorist attacks I became aware of the broader applications of these simple lessons in listening and civil discourse I was invited to serve with a number of foreign policy experts and former elected and appointed government officials on a Council on Foreign Relations task force on public diplomacy The issue we were exploring was how to relate to the Arab World in this era For some of my colleagues, the ideas proposed ranged from bombing Iraq to lecturing them on democracy Around this same time, my brother John and I were asked by foundations in the Arab World to conduct two separate polls: one to examine what Arabs think about their values and concerns the other to measure Arabs attitudes about the USA What we found was that the principal concerns of most Arabs were their families and their futures They wanted good jobs quality health care educational opportunities for their children and safety and security in their communities We also learned that contrary to views widely held by Americans, Arabs liked the USA our people, educational system, products, and our culture and values What they didn’t like was how we treated them These results not only helped inform my task force discussions but also prepared me for meetings with the Bush Administration s Undersecretaries for Public Diplomacy I had the opportunity to meet with each of the individuals Bush appointed to this post When each asked me what I would recommend, I suggested that
The lessons are simple: Listen before you speak, speak softly and avoid harsh rhetoric, respect your audience, and try to speak to their concerns in order to open their minds to hearing you
in their travels to Arab countries they shouldn t begin by lecturing Instead, I advised them to ask questions and listen I d say, Don t presume you know what they’re thinking or what they want to hear from you ” At around this same time I was invited by the UAe s Sheikh Abdullah bin Zayd to meet with a group of ministers from Gulf countries to discuss how they could help to heal the divide between their region and USA As the meeting progressed, a number of the ministers were critical of US efforts to engage them and had a variety of views as to what they should do to improve their image with Americans Through it all Sheikh Abdullah
Don’t fail Lyari again
Traffic discipline
before you speak speak softly and avoid harsh rhetoric respect your audience and try to speak to their concerns in order to open their minds to hearing you
WashiNGTON WaTCh
dr JaMes J ZOGby
China willing to strengthen cooperation with L AC countries for peace and prosperity, Xi says
noting that China is ready to work with LAC countries to firmly uphold the UN-centered international system and the international order underpinned by international law China is willing to work with LAC countries to implement the Global Development Initiative firmly safeguard the multilateral trading system keep the global industrial and supply chains stable and smooth, and safeguard an open and cooperative international environment, Xi said during the remarks He added that the two sides should strengthen the docking of development strategies and ad-
deepen cooperation in traditional fields such as infrastructure agriculture and grain energy and minerals and expand cooperation in emerging fields such as clean energy, 5G communications, digital economy and artificial intelligence
courage Chinese enterprises to expand their investment in the region Xi said Xi also stated that China stands ready to wrk with LAC countries to implement the Global Civilization Initiative, and uphold the values of equality, mutual learning dialogue and inclusiveness among civilizations China is willing to work with the countries to
He added that China is willing
both sides should strengthen cooperation in disaster management, cybersecurity, counter-terrorism, anti-corruption, drug control and combating transnational organized crime and strive to maintain regional security and stability
‘From
Information Minister Azma Bokhari has said that India s socalled Operation Sindoor has effectively turned into Tandoor “The Modi government has no response left she declared They took pride in their aircraft air defense systems, and missiles and we brought it all to ashes Azma Bokhari confirmed that Operation Bunyan-um-Marsoos had been successfully completed She added that a Day of Gratitude was observed on the Prime Minister s instructions to mark the victory Moreover, the Chief Minister of Punjab instructed all schools to honour this day during morning assemblies She shared that the Chief Minister personally visited CMH Hospital to inquire after the wounded and expressed solidarity with the families of the martyrs The nation salutes its martyrs who embraced martyrdom in the face of Indian ag-
gression, Bokhari said Criticizing Indian Prime Minister Narendra Modi’s recent speech, Bokhari called it “defeated and baseless ” She remarked “Mr Modi thought this was a Bollywood film where Pakistan could be easily defeated but this was real, not a cinematic scene Taking a strong stance against Indian media, Bokhari said, “Instead of spreading propaganda
