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PAKISTAN INTENSIFIES DIPLOMACY AMID RAGING MIDDLE EAST WAR In partnership with

Thursday, 12 March, 2026 | 22 Ramazan, 1447

PM SHEHBAZ, DPM DAR URGE DIALOGUE WITH REGIONAL LEADERS TO MAINTAIN PEACE AND TRANQUILLITY

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Rs 20.00 | Vol XVI No 247 | 8 Pages | Islamabad Edition

PM, IRANIAN PRESIDENT DISCUSS ESCALATING TENSIONS AND STRESS DIPLOMACY AND RESTRAINT

DAR ENGAGES KUWAIT AND BANGLADESH COUNTERPARTS AS CRISIS DEEPENS

ISLAMABAD EXPRESSES SOLIDARITY WITH GULF STATES AMID ONGOING REGIONAL ATTACKS ISLAMABAD Mian abrar

AKISTAN stepped up diplomatic outreach on Wednesday as Prime Minister Shehbaz Sharif and Deputy Prime Minister/Foreign Minister Ishaq Dar held a series of high-level engagements with regional leaders, urging dialogue and de-escalation amid the intensifying Middle East conflict while also pushing forward strict domestic austerity measures. Prime Minister Shehbaz held a telephone conversation with Iranian President Masoud Pezeshkian to discuss the evolving regional situation following the ongoing war involving Iran, Israel, and the United States. During the call, the prime minister expressed concern over rising tensions and stressed that Pakistan believes diplomatic engagement and dialogue remain essential to ensuring peace, stability, and de-escalation in the region. He emphasised that all parties must exercise restraint and responsibility to prevent further deterioration of the situation. Shehbaz also underscored that Pakistan attaches great importance to its historic, religious, and cultural ties with Iran and seeks to further strengthen bilateral cooperation between the two neighbouring countries. He reaffirmed Islamabad’s commitment to enhancing engagement and collaboration with Tehran at all levels. President Pezeshkian, in turn, reiterated Iran’s desire to deepen relations with Pakistan and highlighted the importance of working together to promote peace and stability in the region. He also

UN reports 270,000 Afghans have returned from Iran and Pakistan in 2024 ISLAMABAD

staff report

The United Nations has stated that approximately 270,000 Afghans have returned to Afghanistan from Iran and Pakistan so far this year. According to the UN, the majority of these returnees have come from Iran, with a significant number also arriving from Pakistan. The report did not specify the exact breakdown between the two countries, but highlighted the ongoing movement of Afghans back to their homeland in 2024. The UN noted that the return of Afghan nationals is part of a broader trend observed since the beginning of the year. The organization continues to monitor the situation and provide assistance to those returning, many of whom face challenges related to reintegration and access to basic services upon arrival in Afghanistan. The movement of Afghans from neighboring countries has been a subject of international attention, particularly in light of recent policy changes and security developments in the region. The UN has emphasized the need for coordinated humanitarian support to address the needs of returnees and ensure their safe and dignified reintegration. No further details regarding the reasons for the returns or the specific assistance being provided were included in the UN's latest update.

briefed the prime minister on Tehran’s perspective regarding recent developments. Both leaders agreed to maintain close contact and consultations in view of the evolving situation and to expand cooperation in various sectors while continuing high-level engagements. Earlier, the prime minister had congratulated Iran’s new Supreme Leader Mojtaba Khamenei after he assumed leadership following the assassination of his father, Ali Khamenei. In his message, Shehbaz expressed hope that the new leadership would guide Iran towards peace, stability and prosperity while reaffirming Pakistan’s commitment to strengthening bilateral relations.

President Asif Ali Zardari also conveyed his good wishes to the new Iranian leader. The war erupted last month when the United States and Israel launched coordinated strikes on Iran that killed long-time Supreme Leader Ali Khamenei. The conflict quickly escalated as Tehran responded with missile and drone attacks against Israeli targets and locations linked to US forces across the Middle East. On Wednesday, Iran launched fresh missile and drone strikes targeting Israeli cities and Gulf infrastructure, including a Saudi oilfield. Explosions were also reported in Doha as air defence systems intercepted incoming missiles. Meanwhile, Israel carried out heavy strikes across

Lebanon, killing at least 16 people and wounding dozens in Beirut and southern regions. Iranian forces also targeted Bahrain and Iraqi Kurdistan, both areas hosting significant US military presence, further widening the scope of the conflict. The escalating war has triggered turbulence in global energy markets, particularly after threats to close the Strait of Hormuz, through which nearly one-fifth of the world’s oil supply passes. Amid the unfolding crisis, Deputy Prime Minister Ishaq Dar also held separate telephone conversations with the foreign ministers of Kuwait and Bangladesh, discussing the implications of the Middle East situation for regional peace and stability. During his call with Kuwait’s Foreign Minister Sheikh Jarrah Jaber Al-Ahmad Al-Sabah, Dar stressed the urgent need for dialogue and de-escalation while expressing Pakistan’s solidarity with the leadership and people of Kuwait following recent attacks. Both leaders also exchanged views on developments under discussion at the United Nations Security Council and reaffirmed the longstanding brotherly ties between Pakistan and Kuwait. In a separate conversation with Bangladesh’s Foreign Minister Khalilur Rahman, the two sides voiced concern over the rapidly evolving situation in the Middle East and its broader implications for global and regional stability. They reaffirmed their commitment to strengthening Pakistan-Bangladesh relations and agreed to maintain close engagement to advance bilateral and multilateral cooperation.

CONTINUED ON PAGE 03

PM Shehbaz Sharif congratulates Rabi Lamichhane, Balendra Shah on Nepal election victory ISLAMABAD

staff report

Prime Minister Shehbaz Sharif on Wednesday extended his heartfelt felicitation to Rabi Lamichhane and Balendra Shah of the Rastriya Swatantra Party on their remarkable victory in Nepal’s 2026 elections. He said this strong mandate reflected the trust of the Nepali people in the new and dynamic leadership. "Pakistan looks forward to working closely with the newly elected Government of Nepal to further strengthen our historic friendship and cooperation," the prime minister said in a post on his X handle.

Nepal’s centrist Rastriya Swatantra Party (RSP) of 35-year-old rapper-turned-politician Balendra Shah has secured a majority in the direct parliamentary elections and is heading for a landslide, according to official results and trends. Shah’s RSP has already won at least 117 of 153 direct seats and is leading in eight other constituencies in results published by Nepal’s Election Commission. Shah, widely known simply as “Balen”, himself on Saturday defeated the veteran four-time Prime Minister Khadga Prasad Sharma Oli – whose Marxist-led government was ousted in the protests last year – in his own seat in a south-

eastern district, securing almost four times as many votes as Oli. Shah’s victory over the 74year-old Oli, and his rise from the capital Kathmandu’s mayor to potential prime minister, marks one of the most dramatic results in recent Nepali politics. The Nepali Congress, the largest party in the past coalition government, won 17 seats, though its new leader, Gagan Thapa, was defeated by an RSP candidate. Oli’s Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) was trailing with seven wins. Former Maoist commander Pushpa Kamal Dahal, a three-time prime minister, won his seat.

Over 600 Afghan Taliban killed, 219 vehicles destroyed in Pakistan’s Ghazab Lil Haq operation: Tarar ISLAMABAD

staff report

Federal Minister for Information and Broadcasting Attaullah Tarar announced that more than 600 Afghan Taliban members have been killed during Pakistan’s ongoing Ghazab Lil Haq operation. Speaking to the media, Tarar stated that the operation, which is continuing, has also resulted in the destruction of 219 tanks, armoured vehicles, and artillery guns.

Tarar provided these figures while updating on the progress of the military campaign. He emphasized that the operation is targeting militants and their infrastructure, and highlighted the significant losses inflicted on the Afghan Taliban so far. "A total of 219 tanks, armoured vehicles and artillery guns were destroyed during the ongoing operation," Tarar said. The Ghazab Lil Haq operation was launched as part of Pakistan’s efforts to ad-

dress security threats emanating from across the border. According to Tarar, the campaign has focused on eliminating militant strongholds and preventing cross-border attacks. Tarar did not provide further details regarding the timeline of the operation or specify the locations where the casualties and destruction occurred. However, he reiterated the government’s commitment to continue the operation until its objectives are achieved.

National Assembly announces austerity measures, cuts MNAs’ salaries by 25pc ISLAMABAD

staff report

The National Assembly of Pakistan Secretariat has introduced wide-ranging austerity and fuel conservation measures aimed at ensuring prudent utilisation of public resources, reducing energy consumption, and supporting the government’s national drive to curb expenditures amid ongoing economic and regional challenges. According to an official notification issued on Wednesday, the measures include a 25 per cent reduction in the salaries and allowances of all Members of the National Assembly (MNAs) for a period of two months as part of the broader austerity policy. Under the new arrangements, only 20 per cent of the Secretariat’s staff will perform duties in person, while the remaining 80 per cent will work virtually from home through a rotational roster. The notification stated that employees working remotely would remain accessible through telephone, email, WhatsApp and other communication tools and must report to the office within one hour if instructed by their reporting officers. It further clarified that employees working from home would not be entitled to diet allowances or overtime, and no employee would be allowed to leave their station without prior approval from the competent authority.

CONTINUED ON PAGE 03

Pakistan vows support for Saudi Arabia, pushes diplomacy to ease Middle East tensions ISLAMABAD agencies

Pakistan on Wednesday reaffirmed its commitment to support Saudi Arabia whenever required, while stressing that Islamabad was simultaneously working through diplomatic channels to prevent further escalation of tensions in the Middle East. Speaking in an interview with Bloomberg TV, Prime Minister Shehbaz Sharif’s spokesperson Mosharraf Zaidi highlighted the longstanding relationship between Pakistan and Saudi Arabia, saying it had always been based on mutual support and strategic cooperation. Zaidi said the partnership between the two countries meant that Pakistan would stand by Saudi Arabia whenever needed. “One thing to be very clear about is that the question is not whether Pakistan might come to Saudi Arabia’s aid. Both countries have always operated on the principle of being there for each other before the need even arises,” he said. Tensions in the region have sharply escalated following air strikes carried out by

the United States and Israel that reportedly killed Iran’s Supreme Leader Ayatollah Ali Khamenei and several senior officials, prompting retaliatory attacks by Iran on US military bases in Gulf countries. The widening confrontation has raised concerns about a broader regional conflict that could destabilise the Middle East and affect global energy markets. Zaidi said Pakistan’s immediate focus was on preventing the crisis from escalating further and ensuring that key regional partners were not drawn deeper into the conflict. “The real question is what Pakistan is doing to make sure that things do not reach a point where our closest partners are further embroiled in a conflict that could undermine stability and prosperity for the entire region and for the Pakistani people,” he said. Pakistan has intensified diplomatic engagement with regional and international partners in recent days. Chief of Defence Staff and Chief of the Army Staff Asim Munir recently visited Saudi Arabia, while Pakistani leaders have remained in contact with Iranian officials and maintained dialogue with the United States.

Zaidi noted that Gulf states had so far shown restraint despite pressure from some quarters in Washington to become more directly involved in the conflict. “We have seen calls from some voices in the United States for Saudi Arabia and other Gulf countries to get more actively involved, but they have resisted. That restraint is something Pakistan welcomes,” he said. When asked whether Pakistan could provide military assistance to Saudi Arabia if the situation worsened, Zaidi said it would be inappropriate to speculate on such matters. However, he reiterated that Pakistan’s longstanding partnership with Saudi Arabia meant Islamabad would stand by Riyadh if required. Both countries share deep economic and strategic ties, including cooperation in energy security, defence and regional stability. Zaidi also stressed that Pakistan was maintaining communication with all key regional players to promote de-escalation, including ongoing contacts with Iranian leadership. He said Deputy Prime Minister and Foreign Minister Ishaq Dar had been in regular contact with Iran’s foreign minister over the past two weeks.

“These conversations are part of the reason you have seen conciliatory gestures from Iran towards some Gulf states,” Zaidi said, adding that Pakistan recognised its responsibility as a close partner of multiple countries in the region. Pakistan’s diplomatic position, he said, was centred on dialogue rather than con-

frontation. “Pakistan does not want to see its friends fighting each other. Disputes should be resolved through dialogue,” he said. He also criticised the ongoing bombing campaign in Iran and warned that further escalation would harm both regional stability and ordinary civilians.

02 NEWS

Thursday, 12 March, 2026 | ISLAMABAD

PTA MOVES TO FINAL SPECTRUM ASSIGNMENT TO TELECOM OPERATORS AFTER $507 MILLION 5G AUCTION

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telecom operators to facilitate the rollout of next-generation mobile services across the country. The event is scheduled to be held at the PTA Auditorium, Islamabad. The assignment stage will finalize the specific placement of spectrum blocks secured by telecom operators during the recently concluded 5G spectrum auction, enabling them to begin preparations for the deployment of next-generation mobile services across the country. Earlier this week, telecom operators Jazz, Ufone, and Zong secured spectrum in the much-anticipated auction, which is widely seen as a major step toward faster internet speeds and improved digital connec-

ISLAMABAD

AhMAD AhMADANi

AKISTAN is set to move another step closer to the rollout of nextgeneration mobile services as the Pakistan Telecommunication Authority (PTA) is going to organise the Spectrum Auction Assignment Stage on Thursday, March 12, 2026, to determine the exact frequency positions allocated to telecom operators within each band. The assignment stage comes after Pakistan raised $507 million in its landmark 5G spectrum auction, with the PTA now set to finalize the exact frequency positions for

tivity in Pakistan. The 5G spectrum auction, organized by the PTA on Tuesday, concluded after three rounds, raising $507 million through the sale of 480 MHz of spectrum out of a targeted 597 MHz. The results of the auction were announced by PTA Chairman Hafeez Ur Rehman during a ceremony attended by Federal Minister for IT and Telecommunication Shaza Fatima Khawaja, Federal Minister for Information Atta Tarar, and Finance Minister Muhammad Aurangzeb, who formally inaugurated the auction process at the start of the event. According to the PTA, the auction cov-

ered spectrum across several key frequency bands to support high-speed mobile broadband services. The authority offered around 600 MHz of spectrum, of which 480 MHz was successfully sold. The auction included two lots in the 700 MHz band, all five lots in the 2300 MHz band, all 19 lots in the 2600 MHz band, and 22 out of 28 lots in the 3500 MHz band. Among the participating operators, Jazz emerged as the largest buyer, securing a total of 190 MHz of spectrum. The company acquired 50 MHz in the 3500 MHz band, 70 MHz in the 2600 MHz band, 50 MHz in the 2300 MHz band, and 20 MHz in the 700 MHz band.

Pakistan, IMF move to cut FBR tax target to Rs13.45 trillion g

Ufone secured 180 MHz, including 120 MHz in the 3500 MHz band and 60 MHz in the 2600 MHz band, while Zong obtained 110 MHz during the auction. Major General (Retd) Hafeez Ur Rehman, Chairman PTA, while talking to Profit, said that the assignment stage scheduled for March 12 will determine the exact frequency positions within each band, a technical step required before operators can begin network planning and deployment of 5G services. It is pertinent to mention that the successful auction and subsequent spectrum assignment process will accelerate Pakistan’s transition toward the 5G era, paving the way for faster internet speeds, improved connectivity, and expansion of digital services across the country.

regulator to allocate eXact frequency positions to jazz, ufone anD zong in neXt rollout stage

unDer the reviseD framework, taX-to-gDp ratio projecteD at 10.6% as talks continue on $7b imf programme PROFIT

MoNitoRiNg Desk

In ongoing virtual talks, Pakistan and the International Monetary Fund are close to agreeing on a revised macroeconomic and fiscal framework for the current fiscal year, with the Federal Board of Revenue’s tax collection target expected to be reduced to Rs13.45 trillion by June 2026, The News reported. The government had initially set the FY26 tax collection goal at Rs14.13 trillion through parliamentary approval. That target was later reduced to Rs13.97 trillion with IMF consent, and discussions are

Quantum Data Technologies begins IT and allied services operations

now underway to revise it further to around Rs13.45 trillion. Under the revised framework, the FBR is projected to achieve a tax-to-GDP ratio of about 10.6% by the end of the fiscal year, compared with 10.3% recorded in June 2025. The original target agreed with the IMF for FY26 was a tax-to-GDP ratio of 11%. During the first eight months of the fiscal year, the FBR recorded a revenue shortfall of about Rs428 billion against its revised target. Based on current projections, one percent of GDP is estimated at about Rs1.269 trillion, which places the expected revenue collection close to Rs13.45 trillion if the

PROFIT

SHC approves merger of Reliance Cotton Spinning Mills into Sapphire Fibres PROFIT

News Desk

Reliance Cotton Spinning Mills Limited has informed the Pakistan Stock Exchange that the Sindh High Court at Karachi has approved the merger of the company with Sapphire Fibres Limited. In a notice submitted to the exchange, the company said the approval was granted through court order JCM No. 48 of 2025 under Sections 279 to 283 of the Companies Act, 2017. The scheme of amalgamation provides for the merger of Reliance Cotton Spinning Mills Limited into Sapphire Fibres Limited. The disclosure was made in compliance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the Pakistan Stock Exchange Rule Book.

erage between 7% and 7.5% for FY26. The Ministry of Finance had earlier estimated inflation in the range of 5% to 7%, but recent increases in global fuel prices linked to geopolitical tensions in the Gulf region have added pressure to prices. On the external front, the State Bank of Pakistan has continued purchasing dollars from the open market to strengthen foreign exchange reserves. Officials said the external sector remains under pressure due to developments in the Middle East, although the current account deficit is still expected to remain within the projected range of zero to one percent of GDP for the fiscal year.

SECP approves first independent Shariah screening process for capital market securities g

News Desk

Quantum Data Technologies Limited, formerly Chakwal Sppining Mills, has informed the Pakistan Stock Exchange that it has entered a new line of business related to information technology and allied services and has commenced commercial operations in the sector. In a notice submitted under Clause 5.6.1 of the PSX Regulations and Section 96 of the Securities Act, 2015, the company said the move follows approval from shareholders and relevant regulatory authorities to change the company’s principal line of business and corporate name. The company stated that the new business line marks a step in its strategic transformation and will allow it to pursue opportunities in the information technology sector. It also informed that an auditors’ certificate confirming the commencement of business and commercial operations in the new business segment has been submitted in accordance with PSX regulatory requirements. The company said the new business line is expected to support its growth, profitability and longterm sustainability.

tax-to-GDP ratio reaches 10.6%. Officials said the Ministry of Finance will need to adjust government expenditures to keep fiscal deficit and primary surplus targets aligned with commitments under the IMF programme. The two sides have also reviewed the broader macroeconomic outlook. Pakistani authorities maintained that real GDP growth could reach around 4% during the current fiscal year due to improved economic activity in the early months. Earlier projections by the IMF had placed growth at about 3.2% following the impact of major floods. Inflation measured through the Consumer Price Index is now expected to av-

al-hilal shariah aDvisors alloweD to inDepenDently screen psX-listeD securities

Regulations, 2023, any entity declaring securities as Shariah-compliant must use a screening process approved by the SECP. Currently, Shariah screening of listed companies at PSX is carried out by the exchange in collaboration with Meezan Bank Limited and Al-Meezan Investments. Out of 535 listed securities at PSX, 308 are classified as Shariah-compliant, representing a market capitalization of Rs12,373 billion — about 63 percent of the total market capitalization of Rs19,679 billion as of December 31, 2025. The SECP said the approval provides a regulatory framework for additional screening arrangements and is

PROFIT

News Desk

The Securities and Exchange Commission of Pakistan (SECP) has approved Al-Hilal Shariah Advisors (Pvt) Limited to independently conduct Shariah screening of securities, making it the first entity outside the Pakistan Stock Exchange (PSX) and its existing partners to receive such approval. According to SECP, the approval allows the company to screen securities for Shariah compliance for clients and the public, creating an alternative mechanism for Shariah screening in Pakistan’s capital market. Under the Shariah Governance

expected to support the development of Islamic investment benchmarks. Al-Hilal Shariah Advisors is an SECP-licensed Shariah advisory firm providing governance, compliance and advisory services to financial institutions, capital market participants and corporate entities. The screening process will use the latest available financial information and will include rules for inclusion and exclusion of securities from the Shariah-compliant list, along with a compliance mechanism to ensure adherence to regulatory requirements. The regulator said the company will coordinate with the Pakistan Stock Exchange before launching any Shariah-compliant index, and the updated list of compliant securities will be issued quarterly instead of the earlier six-month screening cycle.

Federal govt appoints Farid Ahmad Tarar as Chairman of CCP

tarar brings over three decades of experience in public financial management, regulatory reform, and economic governance ISLAMABAD News Desk

The Federal Government has appointed Mr. Farid Ahmad Tarar as the Chairman of the Competition Commission of Pakistan (CCP). He brings over three decades of experience in public financial management, regulatory reform, and economic governance. He has worked extensively with international development partners on major reform initiatives across Pakistan, serving as Team Leader in a European Union–funded Public Financial Management (PFM) Reform Programme, Strategic Policy Advisor in the FCDO-funded SEED programme, and Team Leader in a UNICEF-supported initiative on strengthening PFM systems. In these roles, he played an integral part in advancing fiscal policy design, public expenditure reviews, institutional strengthening, and revenue reform efforts. Earlier, he served as Pakistan’s Commercial Counsellor in Rome, advancing Pakistan’s trade and economic diplomacy with the European Union, including engagement during the process leading to Pakistan’s GSP+ status. As a senior civil servant, Mr. Tarar has previously served as Secretary to the Government of Punjab, Finance Secretary of Azad Jammu & Kashmir, and Member of the Punjab Revenue Authority. He holds a Master’s degree in Accounting and Finance from Manchester Business School, University of Manchester (UK), and an MBA (Finance). He has also authored key policy documents for international development partners, including the Sindh Public Financial Management Reform Strategy and the Sindh Tax Revenue Mobilisation Plan.

Citi, StanChart evacuate Dubai oﬃces, HSBC closes Qatar branches after Iran threatens to hit US, Israel-linked banks

Dubai's status as a financial hub unDer threat as tehran's military commanD warns it will target economic anD banking interests linkeD to the us anD israel in the region after an attack on an iranian bank DUBAI/LONDON ReuteRs

Citigroup and Standard Chartered have begun evacuating their Dubai offices, telling staff to work from home instead, sources said on Wednesday, as banks step up precautions after Iran threatened Gulf banking interests linked to the U.S. and Israel. U.S. financial giant Citigroup told its staff to evacuate offices in the Dubai International Financial Centre (DIFC) and Dubai’s Oud Metha neighbourhood, a memo sent to employees which was seen by Reuters shows, telling them to work from home until further notice. A spokesperson for the bank said it was continuing to take measures to keep staff safe and had contingency plans in place to ensure business continuity. Britain’s StanChart has a large presence in the United Arab Emirates, with Dubai now a major financial hub for lead-

ing international lenders, including JPMorgan and HSBC, as well as law firms and asset managers. A spokesperson for StanChart declined to comment. Separately, HSBC has closed all branches in Qatar until further notice, according to a customer notice, saying the measure was to ensure the safety of staff and customers. The moves came after a spokesperson for Tehran’s Khatam al-Anbiya military command headquarters said on Wednesday that Iran will target economic and banking interests linked to the U.S. and Israel in the region, after an attack on an Iranian bank. An administrative building linked to Bank Sepah, one of Iran’s largest public banks and with historical links to the military, was hit overnight in Tehran, the semi-official Mehr news agency reported. Many staff at foreign and local businesses had already been told by employers to work from home after Iran responded to

U.S. and Israeli strikes by firing missiles at targets across the Middle East, causing deaths, damage and travel chaos.

CONFLICT DENTING DUBAI’S SAFE-HAVEN STATUS: The war in the region has dented Dubai’s sales pitch to international businesses as the region’s most reliable economic hub, prompting concerns of capital flight, layoffs and firms relocating elsewhere, Reuters reported last week. The creation of the DIFC in 2004 kickstarted Dubai’s push to draw financial firms. By the end of 2025, DIFC hosted more than 290 banks, 102 hedge funds, 500 wealth management firms and 1,289 family-related entities, capping Dubai’s decades-long transition from a modest fishing port into a glittering global financial hub. StanChart, which makes nearly 6% of its overall income in the UAE according to company filings, has in recent years increasingly based senior executives

in the region. The CEO of its investment bank Roberto Hoornweg is based in Dubai, a StanChart website shows, making him one of the most senior financiers at a global bank to be based in the region. Hoornweg declined to comment via a bank spokesperson. HSBC CEO Georges Elhedery said on Monday that the bank’s “conviction in the GCC’s (Gulf Cooperation Council) fundamentals and its future is unchanged”, in some of the first comments from an international bank boss on the growing crisis. “The safety of our colleagues and customers remain our top priority,” HSBC said in a statement on Wednesday in relation to its Dubai-based staff. A spokesperson for JPMorgan declined to comment. At Goldman Sachs, employees across the region are working from home and following local official instructions, a person with knowledge of the matter told Reuters.

Pakistan struggles to secure diesel imports as PSO receives petrol cargo bids PROFIT

MoNitoRiNg Desk

Pakistan is facing difficulty securing imports of high-speed diesel as regional tensions and rising global prices disrupt supply routes, even as Pakistan State Oil (PSO) receives bids from international traders for petrol cargoes to maintain domestic fuel supplies, according to reports. Officials said PSO has received bids for two petrol cargoes of 55,000 metric tons each with 92 RON under a tender issued amid volatility in global oil markets. For the first cargo, OQ Trading submitted the lowest cost and freight premium of $17.8 per barrel, followed by Be Energy SA at $22 per barrel and Vitol Bahrain E.C. at $39 per barrel.

For the second cargo of the same quantity, OQ Trading again offered the lowest premium at $19.5 per barrel, while Be Energy SA quoted $23.5 per barrel. Officials noted that even the lowest offers were relatively high compared with earlier procurements. The bids were submitted under the Public Procurement Regulatory Authority rules and will remain valid until March 13, by which time PSO must decide whether to accept them. While petrol cargoes are being secured, authorities said Pakistan has been unable to arrange imports of high-speed diesel. Traders quoted a premium of around $80 per barrel for diesel cargoes, which officials described as too high to accept. Industry sources said international diesel prices have risen to about $175 per

barrel and supplies are becoming difficult to procure as shipments are largely routed through the Strait of Hormuz, where regional tensions have disrupted normal trade flows. Port authorities confirmed that several vessels carrying petrol cargoes have arrived or are scheduled to reach Port Qasim. The vessel TORM DAMINI discharged 37,000 tonnes of gas oil over about 40 hours and sailed on March 10. Another vessel, NAVE ATROPOS, carrying 50,000 tonnes of mogas from Singapore, arrived on March 9 and is scheduled to berth on March 11. SPRUCE 2, carrying 55,000 tonnes of mogas from Sohar, Oman, is expected to arrive on March 10 and berth on March 12. SEA CLIPPER, carrying 34,000

tonnes of mogas from Fujairah, is due to arrive on March 11 and will berth after SPRUCE 2, with discharge expected to take about 30 hours. PSO said it is taking steps to maintain fuel availability amid volatility in international energy markets. In a statement, the company said it is building stocks and adjusting supply chain operations under directions from the Ministry of Energy. The company added that its procurement processes remain transparent and competitive and that bids received under the latest tender are being evaluated in line with regulatory requirements. Officials said local refineries are expected to increase diesel production to help meet domestic demand. However, they warned that demand could rise in the second

half of March as harvesting season begins, particularly in southern regions. Sources said crude oil shipments for local refineries are also arriving to support domestic production. A cargo for Pakistan Arab Refinery Limited has already reached the country and another shipment is on the way. One cargo for Pakistan Refinery has departed for Pakistan, while another shipment for National Refinery is en route from Fujairah. Separately, Total Parco Pakistan Limited has arranged a cargo of Euro-II diesel at a premium of $20 per barrel and is seeking government approval for its import. Officials said Pakistan currently holds diesel stocks sufficient for about 20 days, but additional supplies may be needed as agricultural demand increases.

NEWS 03

Thursday, 12 March, 2026 | ISLAMABAD

PM OrdErs third-PArtY Audit OF GOvt’s wAr AustEritY PlAn

PROFIT

Monitoring Desk

RIME MINISTER Shehbaz Sharif has ordered a third-party audit of the government’s “war austerity plan” to ensure that ministries and departments are implementing energy-saving measures introduced in response to the global oil crisis linked to the US-Israel war with Iran. Chairing a meeting to review the plan, the prime minister directed all federal ministries and divisions to strictly comply with the measures and submit regular reports on implementation. He said independent audits would be conducted to assess the impact of

Four petrol cargo ships arrive at Port Qasim port oﬃcials say 37,000 tonnes already discharged, another 50,000 tonnes currently being oﬄoaded PROFIT

Monitoring Desk

Four ships carrying petrol cargoes have arrived at Port Qasim as Pakistan monitors fuel supplies amid rising global oil prices linked to the ongoing US-Israel-Iran conflict, Geo News reported. Port officials said about 37,000 tonnes of petrol have already been discharged from one vessel, while another shipment of around 50,000 tonnes is currently being offloaded at the port. Two additional vessels are expected in the coming days, with one scheduled to arrive on March 12 carrying approximately 55,000 tonnes and another on March 13 with about 34,000 tonnes of petrol. The arrivals come shortly after the federal government raised petrol and diesel prices by Rs55 per litre following increases in international oil prices. Under the latest revision, the price of petrol has been set at Rs321.17 per litre, up from Rs266.17, while the price of high-speed diesel has increased to Rs335.86 per litre from Rs280.86.

K-Electric reschedules EOGM to April 2 for election of 13 directors Meeting moved from March 25 after government signals right to nominate board members PROFIT

news Desk

K-Electric Limited has rescheduled its Extraordinary General Meeting for the election of directors to April 2, 2026, after receiving communication from the Ministry of Energy stating that the government may exercise its right to nominate or elect board members. The company had earlier scheduled the EOGM for March 25 to conduct elections for 10 directors. However, the Ministry of Energy informed K-Electric that the Government of Pakistan, as a shareholder, is entitled to appoint directors through nomination or election and would participate in the process accordingly. Following the communication, the company’s board decided to revise the plan and proceed with elections for 13 directors instead of the previously announced 10. The board also resolved to complete all regulatory requirements and reschedule the EOGM. The Securities and Exchange Commission of Pakistan approved the revised schedule on March 10. The meeting will now take place on April 2, 2026. K-Electric said candidates intending to contest the election must submit notices of intention and required documents at the company’s registered office by March 19, which is 14 days before the meeting. The company has also issued an addendum to the earlier EOGM notice to inform shareholders, investors and market participants about the changes.

Pakistan intensifies diplomacy amid raging Middle East war CONTINUED FROM PAGE 01

Meanwhile, Dar also chaired a meeting of the committee tasked with monitoring and implementing the government’s conservation and additional austerity measures, formed under the directives of Prime Minister Shehbaz Sharif. During the meeting, the deputy prime minister directed all ministries and divisions to ensure strict and transparent implementation of the austerity plan aimed at promoting fiscal discipline and prudent use of public resources. The committee reviewed progress on several initiatives, including the federal cabinet’s decision to forgo salaries, reductions in government expenditure across ministries and departments, and deductions from the salaries of senior officials earning Rs300,000 or more per month. The meeting was attended by federal ministers for finance and revenue, climate change, information and broadcasting, petroleum, and information technology and telecom, along with senior government officials and relevant stakeholders. Provincial chief secretaries also participated to ensure coordinated implementation of the measures across both federal and provincial levels.

worK weeK reduced to Four daYs; sindh cuts oFFicial vehicle Fuel bY 50%, punjab issues 13-point austeritY plan including reMote worK and school closures, governMent expenditure triMMed

the steps and ensure transparency. As part of the policy, the government approved a four-day workweek with Friday declared an additional weekly holiday. Ministries were also instructed to submit daily and weekly updates on energy conservation and workforce management, including arrangements for work-from-home where applicable. A special committee led by Deputy Prime Minister Ishaq Dar will monitor the implementation of the plan and provide daily progress reports to the government. Ministries were also directed

to provide evidence of vehicles taken off the road under the austerity policy. Separately, the Federal Directorate of Education announced that schools and colleges in Islamabad would remain closed in the latter half of the month, while university classes will shift online. Provincial governments have also introduced similar measures. The Sindh cabinet approved an austerity plan that includes a four-day workweek, a 50% reduction in fuel allocations for official vehicles for two months, and grounding of about 60% of gov-

monial events except for receptions for visiting foreign delegations. Punjab has issued a separate 13-point austerity plan that includes a four-day workweek, work-from-home arrangements and closure of educational institutions until the end of the month with online classes. The provincial government has also set up district petroleum monitoring committees to oversee the availability and distribution of petroleum products and ensure monitoring of transport fares and essential commodities.

ernment vehicles. Schools will remain closed for 16 days, while colleges and universities will conduct classes online from March 16 to 31. The province also announced restrictions on government spending, including a 20% reduction in non-essential expenditures, a ban on purchasing new vehicles and limits on official foreign travel. Officials said the measures are expected to generate savings exceeding Rs12 billion. Sindh authorities also imposed limits on wedding gatherings, capped at 200 guests, and banned official dinners and large cere-

Pakistan’s car sales rise 42% YoY to 17,121 units in Feb, fall 26% MoM PROFIT

news Desk

Pakistan’s passenger car sales reached 17,121 units in February 2026, up 42% compared with the same month last year but down 26% from January, according to data released by the Pakistan Automotive Manufacturers Association. The February figures brought cumulative car sales during the first eight months of FY26 to 128,498 units, representing a 43% increase compared with 89,770 units recorded in the same period last year. Topline Pakistan Research analysts attributed the month-on-month decline mainly to a high base effect as January typically records higher vehicle registrations at the start of the year, along with fewer working days in February. The year-on-year growth was supported by new market entrants, relatively lower in-

8MFY26 sales reach 128,498 units as deMand iMproves despite MonthlY slowdown

terest rates, easing inflation and improved economic activity. Among manufacturers, Pak Suzuki Motor Company reported sales of 8,160 units in February, up 53% from the same month last year but down 25% from January. Indus Motor Company recorded sales of 3,817 units, showing a 46% increase on a yearly basis but a 25% decline compared with the previous month. Sales of Corolla, Yaris and Corolla Cross models rose 70% year-on-year but fell 24% month-onmonth to 3,102 units, while Fortuner and IMV sales dropped 10% year-on-year and 27% from January to 715 units. Honda Atlas Cars sold 2,114 vehicles in February, reflecting a 3% increase com-

pared with the same period last year but a 42% drop from January. Sales of City and Civic models declined 1% year-on-year and 45% month-on-month to 1,861 units, while BR-V and HR-V sales rose 42% from a year earlier but were down 1% from January to 253 units. Sazgar Engineering reported sales of 1,682 units, showing a 90% increase compared with February last year but a 16% decline from the previous month. Hyundai Nishat Motors recorded sales of 1,021 units, down 3% year-on-year while remaining largely unchanged compared with January. Sales of two- and three-wheelers reached 159,512 units in February, up 24%

IMF objects to Pakistan law limiting public disclosure of lawmakers’ assets PROFIT

Monitoring Desk

The International Monetary Fund has raised concerns over recent legal amendments that limit public disclosure of assets held by members of parliament, The Express Tribune reported, citing officials involved in discussions between the Fund and Pakistani authorities. The Fund questioned amendments to the Elections Act, 2017, approved by the National Assembly, that restrict public access to statements of assets and liabilities filed by lawmakers. The amendments introduce provisions allowing the extent of disclosure in the official gazette and documents provided to the public to be determined by the speaker of the concerned assembly or, in the case of the Senate, by the chairman. Officials said the IMF indicated that limiting access to such information could conflict with the Fund’s governance and anti-corruption framework, which em-

phasises transparency in the disclosure of assets held by public officials. Tribune cited sources as saying that the Election Commission of Pakistan informed the IMF that it does not support measures that restrict public access to information about the assets of elected representatives. The Law Division also told the Fund that the government has not formally endorsed the amendments, which were introduced in the National Assembly as a private member’s bill. The amendments have not yet become law because they still require approval from the Senate. The IMF’s questions come as Pakistan has committed under its $7 billion Extended Fund Facility programme to improve transparency in asset declarations by public officials. As part of those commitments, the government amended the Civil Servants Act to require public disclosure of assets held by federal bureaucrats. Separately, the IMF also sought in-

formation about recent amendments to the National Accountability Ordinance. The amendments allow the chairman of the National Accountability Bureau to serve a three-year term that can be extended once for an additional three years by the federal government. Earlier provisions had set a non-extendable three-year tenure. President Asif Ali Zardari approved the NAO (Amendment) Bill, 2026 last week, allowing the incumbent chairman to continue in office under the revised provisions. Officials said the government informed the IMF that earlier changes made in 2022 had removed the option of extending the NAB chairman’s tenure, which had drawn concerns from the Fund at the time. The IMF’s Governance and Corruption Diagnostic Assessment has previously highlighted the need for more transparent procedures for appointments to key accountability institutions, including the NAB chairmanship.

NA announces austerity measures, cuts MNAs’ salaries by 25pc CONTINUED FROM PAGE 01

In addition, the Secretariat will implement a four-day work week, in line with the government’s recent announcement, except when the National Assembly is in session. As part of the financial restraint measures, officers of the Secretariat in BPS-20 and above, or those drawing a monthly salary of Rs300,000 or more, will contribute two days’ salary to the national exchequer. The notification also announced the suspension of all procurement activities with immediate effect, except for essential day-to-day requirements, which will be maintained at the minimum level. To reduce administrative costs, the Secretariat said it would transition towards a paperless working environment, while foreign visits by parliamentary delegations have also been suspended under the austerity policy.

ENERGYAND FUELCONSERVATION: As part of energy conservation measures, the Secretariat aims to achieve a 70 per cent reduction in electricity consumption by switching off unnecessary lights and limiting the use of electrical appliances. It added that a 70 per cent reduction in utility bills of cafeterias operating within the Secretariat would also be ensured. Furthermore, sessions of the National Assembly and meetings of parliamentary committees will be scheduled before sunset to minimise electricity consumption. The Secretariat said it would also rely more on energy produced under the Green Parliament Project to meet its power requirements while reducing dependence on the national grid. To curb fuel usage and operational costs, the Secretariat decided to enforce a 70 per cent reduction in official transport, meaning only 30 per cent of transport facilities will remain operational for essential duties, while the remaining vehicles will remain grounded.

Standing committees will also be encouraged to hold meetings virtually to reduce travel and fuel consumption, while the number of meetings will be kept to the minimum necessary until the situation stabilises. Speaker of the National Assembly Sardar Ayaz Sadiq said the steps reflected the Secretariat’s commitment to supporting the government’s austerity campaign and ensuring responsible use of public resources. The development comes after the federal government announced nationwide austerity measures in response to the global fuel crisis triggered by the ongoing conflict involving the United States, Israel and Iran. Earlier this week, the federal cabinet announced a 50 per cent reduction in fuel allowances for official vehicles—with exemptions for operational vehicles such as ambulances and public buses—for the next two months. Cabinet members also decided to forgo their salaries and allowances during the same period as part of the government’s austerity drive.

Provincial tax authorities oppose FBR’s move to link service providers to federal POS, e-invoicing system PROFIT

Monitoring Desk

Provincial Revenue Authorities (PRAs) have opposed the Federal Board of Revenue’s proposed SRO 288(I)/2026, which seeks to integrate services, professionals and service providers into the FBR’s computerised system for income tax documentation and electronic invoicing, Business Recorder reported. The authorities have asked the FBR not to issue the final notification until consultations are held with provincial tax bodies, arguing that the proposal may create duplication in regulatory requirements. Under the draft notification, businesses integrated with the

FBR’s online system would be required to report details of outlets, points of sale and electronic invoicing transactions. The rules also require supplies to be made only through registered outlets, POS systems or electronic invoice-issuing machines connected to the FBR platform. In a letter to the FBR, the Balochistan Revenue Authority said the proposed amendments to Chapter VII-A of the Income Tax Rules, 2002, would significantly broaden documentation requirements for service providers listed in the schedule of the rules. The authority said many of these services are already subject to sales tax on services under provincial laws and that some businesses have already integrated their POS

systems with provincial platforms, including the Balochistan Sales Tax Special Procedure (Online Integration of Business) Rules. It warned that requiring the same businesses to connect to both federal and provincial systems could create compliance challenges and regulatory duplication. The Sindh Revenue Board has also raised similar concerns, saying the proposed amendments should have been discussed with provincial authorities before issuing the notification. The SRB noted that several services listed in the draft rules are already required to integrate their POS systems with the Sindh tax authority under the Sindh Sales Tax Special Procedure (Online Integration of Business) Rules.

from a year earlier but down 12% from January. Cumulative sales in this segment reached about 1.3 million units during the first eight months of FY26, marking a 31% increase year-on-year. Atlas Honda, the largest motorcycle manufacturer, sold about 136,000 units in February, up 26% from the same month last year but down 13% from January. Tractor sales stood at 1,717 units in February, showing a 12% increase compared with last year but a 31% decline month-on-month. Truck and bus sales reached 664 units, rising 37% from the same period last year but falling 40% compared with January. Topline Pakistan Research said the auto sector could maintain growth momentum during the remainder of 2026, supported by lower financing costs, introduction of hybrid models and improving economic conditions.

Pakistan’s workers remittances reach $3.3b in February, $26.5b in 8MFY26 pakistani expatriates from uae sent $696.2 million, saudi arabia $685.5 million, uK $532 million, us $319.5 million in February PROFIT

news Desk

Workers’ remittances to Pakistan increased 10.5 percent to $26.5 billion during July– February FY26, compared with $24 billion in the same period of FY25, according to data released by the State Bank of Pakistan (SBP). The increase represents an additional $2.5 billion in inflows during the first eight months of the fiscal year. On a monthly basis, remittances reached $3.3 billion in February 2026, representing a 5.2 percent increase from $3.12 billion in February 2025. However, inflows were slightly lower than January 2026, when remittances stood at $3.464 billion. During February, the largest inflows came from the United Arab Emirates at $696.2 million, followed by Saudi Arabia at $685.5 million, the United Kingdom at $532 million, and the United States at $319.5 million. For the first eight months, Saudi Arabia remained the largest source of remittances, sending $6.168 billion during July–February FY26, up 4.6 percent from $5.89 billion in the corresponding period last year. The United Arab Emirates ranked second, with inflows rising 12 percent to $5.44 billion during the same period. Analysts say continued growth in remittances is helping ease pressure on Pakistan’s external account and supporting the country’s foreign exchange reserves. Remittances remain one of the largest sources of foreign exchange and help finance a significant portion of the trade deficit. In the financial account, the SBP noted net official outflows in January, while foreign investment inflows showed a marginal increase, indicating limited improvement in external financing. The central bank expects remittance inflows to increase in March, supported by higher transfers ahead of Eid-ul-Fitr.

04 COMMENT

Austerity for Stability

The Long Haul

The combatants are doubling down

VEN as US President Donald Trump said that it was possible that he would be willing to talk with Iran, Defense Secretary Pete Hegseth promised the ‘most intense days of strikes against Iran since the start of the war.’ Iran vowed to keep the Strait of Hormuz closed for the duration of the war, even though the US Energy Secretary claimed in a post on X that the US Navy had escorted an oil tanker through them. The claim was later removed, and the White House Press Secretary later denied it. Mr Trump’s remarks may have been designed to calm troubled global oil markets, because it should be remembered that he is probably hurting most from the closure of the Strait, because the resulting constriction of the global oil supply means that his Repub;icans face a tough campaign, and then a tough midterm election in November, because of a sputtering economy. Though many countries, among them Pakistan, are making efforts to move towards peace, the increasing involvement of China seems the only development that might lead in this direction. However, even this is no certainty, considering the blood lust that Israel is showing. Not only is it engaged in attacking Iran, but it has got a separate war going with Lebanon. The Pakistan Foreign Office finally woke up to this on Tuesday, with a standard condemnatory statement, though it showed awareness of a looming danger when it said that the regional crisis was deepening. Pakistan itself faces the prospect of oil going up to $150 a barrel, even as a strange lopsidedness prevails, with petrol landing at Karachi and more to come in a few days, while no diesel cargoes are coming through. Crude oil is landing, though it will have to be refined before more diesel becomes available. Diesel becomes crucial, as the shortage will hit tractors needed to prepare for the harvesting of the wheat crop and then the preparation for Kharif crops. Though the USA and Israel are indulging in a lot of macho talk, the war has become senseless. It should not have taken place at all, and has caused sufffering not just to the countries concerned, or even the region, but the whole world, because of the oil and gas crisis it has led to. It will be inevitable that all mull over what the war signified, but the tiem is not now: now is the time to end it.

Qudrat ullah

N periods of uncertainty, the resilience of a state is measured not only by its strategic preparedness but also by the discipline and collective responsibility demonstrated by its citizens. As global tensions intensify and economic pressures grow, the Government of Punjab’s decision to introduce extraordinary austerity measures reflects an attempt to stabilise the provincial economy while reinforcing public confidence during a challenging moment. The appeal for restraint issued by Chief Minister Maryam Nawaz Sharif should, therefore, be viewed less as an administrative instruction and more as a call for shared national responsibility. Economic history shows that crises inevitably reorder priorities. Supply chains tighten, fuel availability becomes uncertain and inflationary pressures place additional strain on households and governments alike. Under such conditions, states are compelled to redirect resources toward essential services while reducing non-essential expenditure. The Punjab government’s decision to suspend fuel allocations for provincial ministers and reduce petrol and diesel allowances for official vehicles by half signals an effort to demonstrate fiscal discipline beginning at the leadership level, a step often demanded by the public but rarely implemented with visible clarity. The restriction on protocol vehicles accompanying ministers and senior officials further reinforces this message. In governance systems where public trust is closely tied to perceptions of accountability, symbolic restraint can carry substantive political value. When leadership visibly reduces privileges, it strengthens institutional credibility and encourages wider societal participation in conservation efforts. Equally notable is the transition toward workfrom-home arrangements across government departments, limiting physical attendance to essential staff. Beyond immediate cost savings, reduced commuting lowers fuel consumption and eases pressure on energy resources. Educational institutions, while suspending physical attendance temporarily, continue examinations and academic engagement through online platforms, reflecting an attempt to balance continuity with prudence. Importantly, essential public services remain accessible through digital governance initiatives, including e-business services and the Maryam Ki Dastak programme, illustrating how administrative adaptability can prevent austerity from becoming administrative stagnation.

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late)

The postponement of large public gatherings and cultural events also carries practical economic logic. Such activities require extensive logistical deployment, fuel usage and administrative expenditure at a time when resources must be carefully prioritised. Meanwhile, the establishment of district petroleum monitoring committees and the introduction of a track-and-trace system for fuel distribution indicate an awareness of risks traditionally associated with crisis economies, including hoarding, artificial shortages and black-market activity. Market regulation has emerged as another important component of the policy response. Enhanced monitoring of transport fares and essential commodities aims to shield citizens from exploitation during economic uncertainty. Periods of instability often enable profiteering that disproportionately affects lowerincome households and undermines social cohesion. Effective oversight, therefore, becomes both an economic necessity and a governance responsibility. Beyond immediate fiscal savings, the austerity measures suggest a broader administrative vision centred on efficiency and digital transformation. By promoting online services, reducing ceremonial expenditure and encouraging institutional restraint, the provincial government appears to be signalling a shift toward a more performance-oriented governance model. Crises, frequently, accelerate reforms that might otherwise face bureaucratic resistance and the present measures could serve as a foundation for longer-term administrative modernisation if sustained beyond the current circumstances. Yet governmental initiatives alone cannot ensure stability. Public cooperation remains decisive. Ap-

M. A. Niazi

Babar Nizami

Editor Pakistan Today

Editor Profit

Dialling back accountability

dr Zafar Khan Safdar

T a time when democratic governments around the world are tightening standards for political accountability, Pakistan has taken a worrying step in the opposite direction. The National Assembly passed legislation allowing members of parliament to conceal their personal and family assets from public view if a presiding officer determines disclosure could pose a ‘serious threat’ to life or safety. Framed as a modest balance between privacy and transparency, the bill represents, in Pakistan’s political climate, a significant retreat from the norms that enable citizens to hold their leaders accountable. Under Pakistan’s existing law, legislators at the federal and provincial levels must annually submit detailed declarations of assets and liabilities including those of spouses and dependent children to the Election Commission of Pakistan (ECP). These statements are then published in the official gazette for public scrutiny. The new amendment would allow lawmakers to keep these declarations confidential for up to a year, effectively shutting out journalists, civil society, and citizens from monitoring potential conflicts of interest or unexplained enrichment. While the full disclosure to the ECP remains mandatory, public oversight which is the backbone of transparency, is being dialled back. For most Pakistanis, particularly the struggling middle and lower-middle classes, this move smacks of special treatment for the powerful. Ordinary citizens shoulder heavy taxes on income, goods, and services, even as inflation erodes household purchasing power. Meanwhile, the lawmakers responsible for collecting and managing public funds are seeking greater financial secrecy, shielding themselves from the scrutiny that is routine in established democracies. Asset disclosure systems are not peculiar or punitive, instead they are a cornerstone of good governance used worldwide. According to the World Bank, over 150 countries require public officials to declare assets, with public access and independent oversight as critical features. These measures help prevent conflicts of interest, deter illicit enrichment, and allow citizens and watchdogs to detect sudden or unexplained changes in wealth. In the USA, members of Congress and senior executive officials file detailed, publicly accessible financial disclosure reports, enabling

investigative journalists and civil society groups to monitor potential conflicts or signs of corruption. In the European Union, 19 out of 27 member states provide unrestricted online access to legislators’ financial information. Even where privacy concerns are raised, courts and transparency advocates consistently prioritize public interest over secrecy. Across South America and Africa, constitutional bodies have upheld that asset declarations belong to the public domain, and privacy claims cannot override democratic accountability. Across established democracies, there is no precedent for allowing legislators to broadly shield their personal finances from public scrutiny. Pakistan’s proposed amendment lacks critical safeguards. There is no independent mechanism to audit confidential submissions, no external verification of truthfulness, and no clarity on how ‘security concerns’ will be evaluated or challenged. Instead, the power to grant secrecy rests with parliamentary leaders, the very officials whose financial disclosures may be at stake. This creates fertile ground for selective transparency and undermines public trust. This is particularly concerning given Pakistan’s history of high-profile corruption cases linked to financial disclosures. The Toshakhana scandal led to the disqualification of a former prime minister over undisclosed gifts, while the Panama Papers revealed offshore holdings that contributed to another leader’s ouster. These episodes demonstrate why transparency matters, without it, conflicts of interest and illicit enrichment remain hidden, eroding democratic governance. The timing could hardly be worse. Pakistanis are struggling with a sharp economic slowdown, rising inflation, and a sprawling tax system that touches everyday essentials from fuel to food. Families are tightening belts while their lawmakers quietly shield their own financial records. This disconnect between political

privilege and public hardship is not merely symbolic but deepens economic and social inequalities while weakening trust in governance. Transparency is not an abstract ideal, it is a practical safeguard for societies where citizens must rely on elected officials to manage public resources responsibly. By expanding secrecy, Pakistan’s parliament risks making an already opaque system even more inscrutable. Confidential filings to a politically influenced body like the ECP cannot substitute for public scrutiny, the very mechanism that allows citizens, journalists, and civil society to hold power to account. True public accountability cannot survive in the shadows. Citizens judge their leaders, not only by the policies they enact, but by the honesty they embody. When those in power hide their wealth, it sends a clear signal that self-interest outweighs public duty and that accountability is negotiable. Pakistanis are struggling to make ends meet, paying taxes on every necessity while watching the gap between their hardships and the privileges of lawmakers widen. Each act of secrecy chips away at the trust that binds society together and deepens the sense of betrayal felt by those who have been left behind for decades. The country cannot hope to build strong institutions, fair governance, or a future of opportunity while the very people entrusted to protect public interest choose concealment over openness. Leaders must recognize that transparency is not optional but a covenant with the people. Without it, democracy becomes a hollow promise and the voices of ordinary citizens are drowned out by the silence of those meant to serve them. The writer has a PhD in Political Science, and is a visiting faculty member at QAU Islamabad. He can be reached at zafarkhansafdar@yahoo.com and tweets @zafarkhansafdar

The country cannot hope to build strong institutions, fair governance, or a future of opportunity while the very people entrusted to protect public interest choose concealment over openness. Leaders must recognize that transparency is not optional but a covenant with the people.

Lahore – Ph: 042-36300938, 042-36375965

Karachi – Ph: 021-32640318 I

peals urging citizens to avoid unnecessary travel, limit late-night commercial activity and refrain from hoarding essential commodities reflect a fundamental economic reality: panic behaviour amplifies scarcity. When consumption exceeds actual need, artificial shortages emerge, prices rise and collective hardship deepens. Responsible consumption, therefore, becomes an essential element of national resilience. The success of austerity depends on coordinated action across society. Citizens must adopt conservation practices in daily life, businesses must maintain fair pricing and stable supply chains, and public institutions must ensure transparency in implementation. Local administrations must enforce monitoring mechanisms effectively, while media and civil society organisations can help promote awareness and discourage misinformation that fuels uncertainty. Pakistan today faces a moment that demands economic discipline alongside strategic preparedness. The measures introduced by the Punjab government should be understood not merely as temporary restrictions but as preventative steps aimed at preserving stability during uncertainty. By prioritising essential spending, reducing administrative excess and encouraging collective responsibility, austerity can function as a stabilising instrument rather than a burden. Periods of crisis often test national cohesion, yet they also create opportunities to reinforce institutional discipline and shared purpose. Nations confronted with adversity either weaken through division or emerge stronger through unity and foresight. The outcome depends largely on public trust and collective participation. If embraced with patience and responsibility, the principle of shared sacrifice can help transform present challenges into a foundation for long-term stability and resilience.

The writer can at qudratu@gmail.com)

reached

Pakistan today faces a moment that demands economic discipline alongside strategic preparedness. The measures introduced by the Punjab government should be understood not merely as temporary restrictions but as preventative steps aimed at preserving stability during uncertainty.

Turning back on transparency Founding Editor

Thursday, 12 March, 2026

Islamabad – Ph: 051-2204545

Editor’s mail

Send your letters to: Letters to Editor, Pakistan Today, 4-Shaarey Fatima Jinnah, Lahore, Pakistan. E-mail: letters@pakistantoday.com.pk Letters should be addressed to Pakistan Today exclusively

Climate funds overdue

THE world’s largest non-polar glacial reserves in Gilgit-Baltistan (GB) face an existential climate crisis amplified by recurring floods and glacial retreat, making the pursuit of net zero emissions not just a global obligation, but a survival strategy. Drawing from the Oxford Net Zero framework, which advocates for effective and immediate emission reductions, strategic carbon dioxide removal (CDR) and equitable financing, Pakistan’s Nationally Determined Contribution (NDC) 3.0 targets a 50 per cent greenhouse gas (GHG) emissions cut by 2035, blending domestic efforts with international support. However, financial gaps — estimated at $565.7 billion by 2035 — underscore the need for global solidarity under principles like common but differentiated res-ponsibilities, ensuring that low-emission nations like Pakistan can leverage renew- ables and geological storage for a balanced transition towards sustainability. I grew up along the Indus River’s banks, where melting glaciers feed the lifeblood of 90pc of Pakistan’s people, only to witness devastating floods in 2010, 2022 and 2025. The path forward entails front-loading cuts in industrial and agricultural emissions, and cautiously scaling CDR through geo-logical means. Yet, in boardrooms far from Sindh’s floodplains or Punjab’s heatwaves, equity falters; with 90pc of funds funnelled to mitigation over adaptation. Communities bear the brunt while waiting for inter-national finance to turn vulnerability into opportunity through green jobs and resilient ecosystems. In the context of Pakistan’s climate vulnerability, rapid emission reductions are essential, focusing on efficiency, electrification and a 30pc renewable mix by 2030. Besides, CDR must be permanent, prioritising geological over biogenic storage to avoid transient risks. Equity demands international aid to bridge the massive gap, aligning with plans for socioeconomic growth. Pakistan needs a strategy of multifaceted action for a resilient future. MAQSOOD SHAHI GILGIT-BALTISTAN

Unity over venom

WITH Pakistan facing a myriad of issues, including internal and external security threats, and at a time when the nation needs unity and harmony for the sake of the country’s stability and future, there are politicians spewing venom against state institutions, polarising the already polarised society. This is regrettable. Such politicians are increasingly being seen as figures whose actions seem to exacerbate problems rather than offering solutions. Instead of fostering constructive measures and serving the people, their frequent confrontational statements and unnecessary and inflammatory speeches are contributing to the rising level of tension in society. The spread of inaccurate reports and misleading information is damaging the country’s overall stability. The armed forces are one of the most important pillars of the state. In this context, speaking against them or adopting a confrontational tone sends the wrong message, and can encourage hostile narratives from outside. Pakistan’s survival, political stability and democracy require patience, responsibility and sensible behaviour by all concerned. Difference of opinion is natural and everyone has the right to disagree, but when it comes to national matters, unity, careful planning and collaboration are essential elements. A practical political strategy can provide real solutions, not threats to state insti-tutions. We need politicians who may have the capacity and the desire to build bridges. The preferred option should be diplomacy and dialogue, not daily confrontation. This is the only approach and the way forward that will lower political tensions, protect democracy, and benefit the country. HAYAN AHMED KHAN ISLAMABAD

Web: www.pakistantoday.com.pk

Email: editorial@pakistantoday.com.pk

Trump: A bull in the China shop

Thursday, 12 March, 2026

The USA and Israel have made a bad mistake

MAlik MuHAMMAD ASHRAF

ISTORY is witness to the fact that powerful nations inebriated by their military might, have invariably tried to dominate the world and impose their own values and perceptions on smaller nations who have no other choice than to accept their bullying and acquiesce to all their illegitimate and inhuman activities. To put it in a nutshell, Might is Right. It has been right throughout human history and it would continue to be right till the day of resurrection. Issues and conflicts have been resolved through military might. There could not have been a greater proof of might being right than the military assault on Iran by Israel with full support of the USA while the rest of the world seems helpless in stopping it or having no choice other than endorsing the action which is an unprecedented violation of the UN Charter and also betrays all the known and acknowledged humanitarian values. Although almost all US Presidents have pursued a policy to dominate the world and used all overt and covert machinations to fashion the world according to their own perceptions using military might, but none has been as reckless and unreasonable as President Trump. He is acting like a bull in a china shop, hell bent on settling issues through military might in blatant defiance of the UN Charter and lack of respect for human lives that are lost in pursuance of his self-defined objectives. There is absolutely no justification for what Israel and the USA did in Gaza and the two attacks that they have launched on Iran, particularly the now ongoing assault in which they have killed top leadership of Iran besides continuing bombardment of military and civilian targets. Trump is trying to justify the attack on Iran with the objective that it was meant to secure the lives of Americans from the threat that Iran posed, complete destruction of nuclear capability of Iran and liberating people of Iran from clutches of the oppressive regime. I am afraid he is lying to his own people and the entire world. Iran has never been a threat to the USA, as it was mainly focused on the Middle East with a clear-cut objective of stopping Israeli oppression on the Palestinians. Trump is actually strengthening the Israeli state in pursuing its sinister designs

of occupying the Palestinian lands permanently and perhaps also enabling her to expand further as has been indicated by the US Ambassador in Tel Aviv. As far as his second stated objective is concerned, if the nuclear prowess being achieved by Iran was a threat to them then how come the nuclear capability of Israel and the USA was not a threat to the peace of the world? The reality is they want to maintain their position of nuclear blackmail and use it for arm-twisting of other nations. The third objective regarding change of regime is the most preposterous proposition. How can the USA, or for that matter any other power, decide to change a regime in another country or incite its people to rebel against the incumbent government? Does the UN Charter allow or endorse any such action? In fact Trump does not give a hoot for the UN Charter, UN resolutions, international law, international treaties or anything he considers inimical to his designs. He has made the UN redundant by his actions and turned topsy-turvy the international order. Where are the nations and their leaders who cry themselves hoarse from convenient roof-tops to announce their humanitarian credentials, adherence to UN Charter and abhorrence against foisting unjustified wars? The fact is that no country whose commercial and strategic interests are linked to the USA would dare to jeopardize them and will perforce have to go along with it, as is already evident from the reaction of the European nations. The reality is that powerful nations and their allies do not manage international relations on the basis of principles enshrined in the UN Charter. Their policies and actions are invariably dictated by their self-defined interests. Diplomacy is actually an ultimate hypocrisy to cover up their indiscretions and

give legitimacy to their inhuman actions. It is only the small and weak nations who always seem to justify their foreign policies on the basis of principles of the UN Charter and abide by international laws. Diplomacy depends on the worth of a nation reflected through its economic and military prowess. Nevertheless, in my considered view, the USA and Israel have committed a great blunder by starting the war against Iran which has the potential to destabilize the entire region. Iran will prove to be a hard nut to crack. The USA and Israe; will not emerge unscathed from this conflict. The killing of Ayatollah Khamenei and other Iranian leaders has already triggered strong protests in the

MIDDLE EAST EYE Joe Gill

HE skies over Tehran were black with oil smoke last weekend, and the streets were on fire after Israel bombed oil storage depots in the capital. These attacks put toxic fumes into the air that clung to the throats and lungs of millions of Tehran’s citizens. The scenes were apocalyptic, reminiscent of the first US-led Gulf war 35 years ago when Saddam Hussein’s retreating forces set fire to Kuwait’s oil wells, turning day into night over the skies of the Gulf. But that act of environmental destruction was not in the centre of a city of ten million. Operation Epic Fury is a war of choice that began with the assassination of the head of state, Ali Khamenei, and dozens of senior officials, and a double-tap strike on a girls school that killed 165 schoolchildren. This is not a new kind of atrocity for the US: in the 1991 Gulf war the US bombed a shelter killing 400 children and their parents. This is a war on major cities and civilians. Pete Hegseth, the US secretary of war, has proudly dismissed any rules of engagement, describing with great relish “Iranian leaders looking up and seeing only US and Israeli air power… B52s, B2s, B1s, Predator drones, picking targets, death and destruction from the sky, all day long.” Israel is meanwhile waging war against the entire civilian population of south Lebanon and the capital Beirut, forcing 700,000 people from their homes. Close to 600 have been killed in only a week, including 86 children. If Iran or Hezbollah had caused so much death and suffering, the western media would be in uproar. Instead Israel’s relentless bombing is normalised as “military operations”, as was Israel’s genocidal war on Gaza.

‘WE ARE GOING TO MAKE A TONNE OF MONEY’: Trump claimed to have ended seven wars in his first year of office, forming a Board of Peace that he said would bring peace to the world. But the truth is that the genocide in Gaza did not end last October. Neither did the war on Lebanon end with the ceasefire of November 2024. And now Trump has joined with Israeli Prime Minister Benjamin Netanyahu in an unprovoked war on Iran, one that the Israeli leader has been planning for

Muslim countries, including Pakistan. Millions of Iranians gathered in Tehran to express their resentment against these killings and express solidarity with the government which means that they have readily rejected the proposition to the suggested take-over of the government. Contrary to the estimates of USA and Israel, Iran has unleashed attacks on US bases in the Middle Eastern countries and is hitting the Israeli capital, reiterating its resolve to defy aggression and protect the integrity of the country. Muslim countries including Pakistan have condemned the killing of Iranian leaders and unprovoked attack on Iran which is likely to produce negative fallout as

The fear is that as the war rolls on there will be tremendous overt and covert pressure on countries of the region including Pakistan to take sides. Keeping out of this conflict would be a great test for them. Pakistan has played the role of a bridge in lessening hostilities in the Middle East and currently is regarded as a credible partner for the sake of peace. Its relations with the USA are also at the best ever level. It must use this position to facilitate a negotiated solution to the conflict between Iran and US-Israel maintaining a balanced foreign policy.

Regime change in US and Israel can end the Middle East wars

COMMENT 05

decades. Finally he has a US president who will do everything he asks. “When this regime goes down, we are going to have a new Middle East, and we are going [to] make a tonne of money,” pro-war Republican Senator Lindsey Graham said this week. “Venezuela and Iran have 31 percent of the world’s oil reserves. We’re going to have a partnership with 31 percent of the known reserves. This is China’s nightmare. This is a good investment,” said Graham. His remarks show clearly that the US abduction of former Venezuelan leader Nicolas Maduro, and the Iran war were part of a strategy to gain control over global oil supplies and deny them to their chief rival, China. The domestic US context that preceded this war is summed up in one word: Epstein. Trump is all over the Epstein files, as members of Congress who have seen them confirm. He launched the war in a week when previously suppressed testimonies were released from a witness who said Trump and Epstein sexually abused her when she was a young teenager. Trump denies all allegations. This is a fatally compromised president, whose poll position is cratering and whose very weakness pushes him towards ever more reckless actions, now culminating in the US equivalent to Vladimir Putin’s invasion of Ukraine. Like that invasion, the goal is regime change, and like that attack, it has radically destabilised the global order. The wars that Israel and the US have fought since 7 October 2023 have now escalated to embroil the whole region and the world, thanks to the critical impact of the blocking of the Strait of Hormuz and strikes on Gulf oil and gas. Russia has denied reports that it was supplying intelligence to Iran to assist in its missile strikes, while Ukraine is now sending experts to help Gulf states take down Iranian Shahed drones that were earlier sent to Russia and used against Ukraine. Some commentators, such as Columbia University’s Jeffrey Sachs, see this latest escalation in the Gulf as the early stages of a third world war.

NO WAY OUT: How does this end? Nobody knows, although the Iranians sound remarkably confident that the US has started a war that it cannot finish. Iranian military and Islamic Revolutionary Guard chiefs say that they are prepared for a long war of attrition, with one IRGC spokesperson saying they have stocks for a 10-year war. “Even as we use our missiles and drones, our depots and stockpiles are full, overflowing and brimming.” It took two months for George W Bush to claim mission accomplished in Iraq in May 2003. It was a false claim, as the war continued long after Saddam Hussein was captured six months later, leaving hundreds of thousands dead, including thousands of US troops. Trump now says this war is

nearly over. Another lie. The Nato Libya air campaign of 2011 in support of a rebel uprising took seven months until Muammar Gaddafi was killed. “We came. We saw. He died,” Hillary Clinton infamously joked in October 2011 about the US-led overthrow of Gaddafi. But Libya fell into civil war and split into two. Only now, 15 years later, have US and French oil majors signed a $20bn dollar deal to extract Libyan oil profits. The Islamic Republic is not Saddam Hussein’s Iraq, nor Gaddafi’s Libya - two regimes dominated by a ruling family, as was Syria until December 2024. Iran has huge institutional depth that can survive the killing of its supreme leader. It is a vast nation of 90 million people. Netanyahu and Trump seemed to believe the regime would crumble after Khamenei’s death with people rising up at their command to overthrow their rulers, rather like the fantasy that was promoted before the invasion of Iraq 23 years ago. Regime change wars tend to devolve into brutal struggles that unleash ethnic, tribal and sectarian tensions through the destruction of state institutions. This is actually what the Israelis want to see in Iran. Not so much the Americans, who just want the oil. Regime change may be coming. But to end this expanding conflict, it should be the reckless regimes in Washington and Israel that fall. Trump is in deep trouble. A new breed of anti-war Democrats are coming in November (although there seems to be no real attempt to break with the pro-war Republican-Democrat duopoly). Between Epstein and this disastrous war, it is hard to see Trump serving out his second term. Still, President JD Vance is not a prospect to savour. As for Netanyahu, unlike Trump, he has the backing of three-quarters of Israelis for his wars on Gaza, Lebanon, Iran and who knows where next. Israel is in the grip of a messianic war fever. Only the cutting of US support, sparked by America’s growing revulsion at its political capture by the Israel-linked Epstein class, will end Israel’s drive for regional domination. That, or a catastrophic defeat. The new leader of Iran, Mojtaba Khamenei, has very personal reasons to wish revenge on the US and Israel: they killed his father, his wife Zahra Adel, his mother, his son and his sister last Saturday. Iran is no longer seeking to avoid conflict instead it aims to inflict a decisive blow. As parliament speaker Mohammad Bagher Ghalibaf said: ‘’The Zionist regime sees its ignoble existence in perpetuating the cycle of ‘war-negotiation-ceasefire and then war again’ in order to consolidate its domination. We will break this cycle.” The question is which regime change comes first, and what price in blood and treasure will be paid.

Joe Gill has worked as a journalist in London, Venezuela and Oman, for newspapers including Financial Times, Morning Star and Middle East Eye.

far as US relations with them are concerned because they will be under tremendous pressure from their public to keep expressing solidarity with Iran and showing dissent to the US-Israeli assault on Iran. Ultimately it could undermine US strategic interests in the region and beyond. The continuation of this war is also likely to have debilitating impact on the world economy, particularly the nations that entirely depend on imported energy to run their industrial machines and fulfilling household needs. They might also have to navigate sectarian fault lines at home as well, a glimpse of which we have witnessed in Karachi, Lahore and Gilgit-Baltistan. The fear is that as the war rolls on there will be tremendous overt and covert pressure on countries of the region including Pakistan to take sides. Keeping out of this conflict would be a great test for them. Pakistan has played the role of a bridge in lessening hostilities in the Middle East and currently is regarded as a credible partner for the sake of peace. Its relations with the USA are also at the best ever level. It must use this position to facilitate a negotiated solution to the conflict between Iran and US-Israel maintaining a balanced foreign policy.

Malik Muhammad Ashraf is an academic. He can be contacted at: ashpak10@gmail.com.

America has become an agent of chaos in world energy markets

A succession of US foreign policy choices has destabilised the oil industry

THE FINANCIAL TIMES eMMA ASHFoRD

N 1980, shortly after the Soviet invasion of Afghanistan, Jimmy Carter told Congress that “an attempt by an outside force to gain control of the Persian Gulf will be regarded as an assault on the vital interests of the United States of America, and such an assault will be repelled by any means necessary, including military force”. This policy, which would become known as the Carter Doctrine, committed the US to defend the free flow of oil globally. But over the past few decades, America has come to play a more insidious role in global energy markets. True, the growth in US shale production has smoothed out some of the notoriously volatile gyrations of oil prices in times of crisis. But at the same time, US foreign policy choices have increasingly created destabilisation and distortions. Consider Washington’s addiction to sanctions. Earlier generations of sanctions often included carve-outs to protect energy markets. But since at least Donald Trump’s first term in office, sanctions have become increasingly broad, with fewer exemptions. “Maximum pressure” sanctions on Iran and Venezuela largely shut off sales to all international buyers, except through illicit mechanisms such as the shadow fleet. American and European sanctions on Russian oil exports following the invasion of Ukraine upended the global oil trade, with the chaos sending prices spiking for several months. US military adventurism has likewise been problematic. Take the Obama administration’s choice in 2011 to intervene on behalf of Libyan protesters against the Gaddafi regime. Libya’s oil exports dropped to around 20 per cent of its prior output, removing a major producer from world markets, albeit in a period of low demand. It took several years for Iraqi production to recover from the 2003 US invasion, and ongoing conflict in the country has had long-lasting effects on its oil industry. The war with Iran is merely the most recent case of America operating as a destabilising force in global oil markets. Traders and energy security specialists have long feared a conflict that would close the Strait of Hormuz

to traffic, prevent exports from facilities in the Gulf or damage oil production infrastructure. All of this, however, was considered an unlikely scenario until now. But the Trump administration has brought us far closer to just such a situation. Iran may not be physically blocking the Strait of Hormuz, but few captains (or their insurers) are brave enough to sail through an open war zone. Qatar has already shut down gas production, sending prices soaring, and producers such as Saudi Arabia and Iraq are beginning to shut in oil production as they run out of domestic storage. Oil prices have been ticking up, and they are surging for specific commodities such as jet fuel, where the market is more constrained. The effects of America’s war of choice will be felt most acutely in Asia, where Japan, Taiwan and other US allies are heavily dependent on Gulf fuel. Both China and India are likewise starting to feel the pinch. And in Europe, still barely recovering from the aftermath of Ukraine energy shortfalls, prices have skyrocketed. Ironically, these effects are already being felt by the American consumer as well. The Trump administration is looking for mitigation strategies, including loosening sanctions on Russia, and releases from the US or G7 strategic petroleum reserves. But such measures are unlikely to have a significant effect on prices if the war continues for weeks to come. It increasingly seems that pressure from voters and markets feeling the pinch of increased energy costs may lead Trump to search for an off-ramp from this conflict. Pushback from US allies and adversaries alike has also begun. The Gulf states are in an impossible situation: facing significant economic impact from the war, but unable to break with the US. Indian refineries are already seeing shortfalls in supply of crude oil, while China has suggested it may negotiate directly with Iran to guarantee safe passage for its tankers. Trump may soon back down. But while his is not the first administration to wield US power in a way that undermines global energy markets, the consequences of this war of choice are incalculable. One wonders how long China, India and others will tolerate these disruptions and their potential economic impact, before they conclude that American policy in the Middle East is a genuine threat to their energy security.

The writer is a senior fellow at the Stimson Center and author of ‘Oil, the State, and War: The Foreign Policies of Petrostates’.

06 NEWS

TRUMP SAYS IRAN WAR COULD END SOON AS 'PRACTICALLY NOTHING LEFT TO TARGET' IRGC says its only focus is at enemy's 'complete surrender' TEHRAN

Agencies

WASHINGTON Agencies

NITED States President Donald Trump has stated that the ongoing conflict with Iran could conclude in the near future, citing that there is 'practically nothing left to target' in the country. In an interview with Axios, President Trump remarked, "Any time I want it to end, it will end." He further elaborated that the extent of US military actions has left few remaining targets in Iran, suggesting the possibility of a swift resolution to hostilities. Trump’s comments come amid heightened tensions between Washington

and Tehran, following a series of confrontations in the region. The US president’s remarks indicate his belief in the overwhelming impact of American military operations on Iran’s infrastructure and strategic assets. While President Trump did not provide a specific timeline for ending the conflict, his statements reflect confidence in the United States’ ability to dictate the course of events. The interview did not include details on any ongoing diplomatic efforts or potential negotiations between the two countries. The situation between the US and Iran has remained tense, with both sides exchanging threats and carrying out military actions in recent months. President Trump’s assertion that the war could end

Iran's Islamic Revolutionary Guard Corps (IRGC) said on Wednesday it will continue striking Israeli and US bases across the Middle East until it perceives the threat of war against Iran has ended. “We only think of the enemy's complete surrender," the IRGC said in a statement on its official outlet, Sepah News. The IRGC claimed that its 38th wave of attacks late Tuesday hit the US Al-Udairi base in Kuwait, sending more than 100 troops to nearby hospitals. The IRGC also claimed missile and drone strikes on US naval infrastructure at Mina Salman port in Bahrain, home to the US Fifth Fleet, as well as attacks on Kuwait's Ali Al-Salem Air Base and Mohammed Al-Ahmad Naval Base. Earlier on Tuesday, the IRGC said it targeted a satellite communications centre south of Tel Aviv and military sites in Beer Yaakov, West Jerusalem, and Haifa with Khorramshahr missiles. It also claimed attacks on several US positions in Erbil, Iraq. Separately, Iran's army reported early on Wednesday drone strikes on

at his discretion underscores the current imbalance in military capabilities, as perceived by the US administration.

Israeli Military Intelligence, the Unit 8200 cyber division, a Green Pine radar installation, and a submarine command center at Haifa's naval base. The flare-up follows joint US-Israeli strikes on Tehran and other Iranian cities on February 28, which killed former Supreme Leader Ali Khamenei and senior military commanders. In response, Iran has carried out repeated missile and drone attacks on US and Israeli targets in the region. In the latest strike on Iranian soil, Bank Sepah, a major bank in Iran, said a US-Israeli missile hit one of its Tehran buildings around 1am local time Wednesday, injuring and killing employees on the overnight shift. State broadcaster IRIB confirmed the attack but did not provide casualty figures. The Khatam al-Anbiya Central Headquarters--Iran's primary military command--warned the strike would prompt retaliation, saying the attack on a bank "freed" Iran to target US and Israeli financial institutions across the region. The Military spokesman Ebrahim Zolfaghari urged civilians to stay at least one kilometre away from such facilities.

No further details regarding future US actions or responses from Iranian officials were mentioned in the interview.

China warns US AI military use can create 'Terminator' world BEIJING Afp

US Navy says Hormuz Strait escorts not currently possible amid Iranian threats WASHINGTON Agencies

The United States Navy has informed the global shipping industry that it is currently unable to provide escort services for vessels passing through the Strait of Hormuz, following threats from Iran's Revolutionary Guards. According to information provided by the US Navy, the decision comes in the wake of recent warnings from Iran's Revolutionary Guards, who have stated they will target any ship attempting to transit the strategic waterway. The Strait of Hormuz is a critical maritime route for global oil shipments, making security in the area a significant concern for international trade. The US Navy's announcement was made as tensions in the region remain high. The statement emphasized that, at this time, the Navy does not have the capacity to escort commercial ships through the strait. The Navy did not specify when or if escort operations might resume. The warning from Iran's Revolutionary Guards has heightened concerns among shipping companies and insurers about the safety of vessels navigating the Strait of Hormuz. The waterway, which connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, is considered one of the world's most important chokepoints for oil transport. Any disruption to shipping in the area could have significant implications for global energy markets.

China warned the United States on Wednesday that the excessive use of artificial intelligence (AI) in its military could plunge the world into a Terminator like dystopian future. US President Donald Trump’s administration has sought the unconditional use of AI startups in the military. The Pentagon has confirmed Elon Musk’s Grok system is cleared for use in a classified setting and blacklisted Anthropic after it refused to allow its Claude AI model to be used for mass surveillance and autonomous lethal warfare. “Such choices as the unrestricted application of AI by the military, using AI as a tool to violate the sovereignty of other nations, allowing AI to excessively affect war decisions, and giving algorithms the power to determine life and death, not only erode ethical restraints and accountability in wars but also risk runaway,” a technological spokesman for China’s defence ministry, Jiang Bin, said on Wednesday. “A dystopia depicted in the

American film The Terminator could one day come true,” he said. The Terminator, released in 1984 and starring Arnold Schwarzenegger, depicts an apocalyptic future in which AI-controlled robots fight humans. The Pentagon’s row with Anthropic erupted days before the US military strike on Iran. Claude is the Pentagon’s most widely deployed frontier AI model and the only such model currently operating on the Defence Department’s classified systems. Anthropic infuriated Pentagon

chief Pete Hegseth by insisting its technology should not be used for mass surveillance or fully autonomous weapons systems. Trump subsequently ordered every federal agency to cease all use of Anthropic’s technology. Hours later, Hegseth designated Anthropic a “Supply-Chain Risk to National Security” and ordered that no military contractor, supplier or partner “may conduct any commercial activity with Anthropic”, while allowing a sixmonth transition period for the Pentagon itself.

Thursday, 12 March 2026 | ISLAMABAD

CPPCC concludes annual session, calls for strong start to China's 15th Five-Year Plan BEIJING

stAff report

China’s top political advisory body on Wednesday called on national political advisors to actively contribute their wisdom and efforts toward advancing Chinese modernization and ensuring a strong start to the country’s 15th Five-Year Plan (2026–2030). Senior leaders including Xi Jinping attended the closing meeting of the fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) held at the Great Hall of the People. During the meeting, several key documents were approved, including a resolution on the work report of the Standing Committee of the CPPCC National Committee, a resolution on the handling of proposals submitted since the previous annual session, a report on the examination of new proposals, and a political resolution of the fourth session of the 14th CPPCC National Committee. Addressing the gathering, CPPCC National Committee Chairman Wang Huning said members had conducted thorough deliberations on major reports during the session, including the Government Work Report and the draft outline of the 15th FiveYear Plan (2026–2030). He noted that members fully recognised the “extraordinary course of development” achieved over the past year and throughout the 14th Five-Year Plan (2021–2025) period, highlighting the significant progress and achievements made in the country’s economic and social development. Wang said the session demonstrated the strong sense of responsibility among CPPCC members in fulfilling their duties to the nation and serving the people, while also showcasing the vitality and strengths of China’s socialist consultative democracy. Focus on implementation of 15th Five-Year Plan Wang emphasised that the CPPCC must continue to play its role as a specialised consultative body by uniting political parties, organisations and people from all ethnic groups and sectors participating in the CPPCC. He said the body should work to build consensus, pool public support and gather collective wisdom to ensure the steady implementation of the 15th Five-Year Plan. Calling on members to focus their efforts on the country’s central development priorities, Wang urged them to conduct forward-looking research on major economic and social issues and present constructive proposals to support policymaking. He also stressed that CPPCC members should remain committed to serving the people by advancing initiatives that improve livelihoods and ensure that the benefits of Chinese modernization are shared widely among the population. Describing the CPPCC as the most inclusive patriotic united front organisation, Wang said it should continue strengthening national unity among people of all ethnic groups and foster greater solidarity among Chinese citizens both at home and abroad. Looking ahead, he called on political advisors to unite more closely around the Communist Party of China Central Committee with Xi Jinping at its core and work collectively to advance the building of a modern socialist country.

Erdogan urges end to Iran conflict to prevent wider regional escalation ANKARA

Agencies

Turkish President Recep Tayyip Erdogan has called for an immediate cessation of hostilities involving Iran, warning that continued conflict could draw the entire region into war. Speaking to reporters, President Erdogan emphasized the urgent need to halt the

fighting, stating, "This war needs to stop before it spreads and drags the whole region into its vortex." He highlighted Turkiye's efforts to mediate between the parties involved, noting that Ankara had offered to facilitate dialogue before the recent US-Israeli strikes on Iran, which began 12 days ago. Erdogan expressed concern over the escalating tensions and their potential impact on regional stability. He

reiterated Turkiye's commitment to peace and dialogue, stressing that further escalation would have serious consequences for all countries in the Middle East. The Turkish president's remarks come amid heightened tensions following a series of strikes between the United States, Israel, and Iran. Erdogan underscored the importance of diplomatic solutions and urged all sides to exercise restraint to prevent a broader conflict.

Iran's new supreme leader injured but 'safe', says president's son TEHRAN Afp

Iran’s new Supreme Leader Ayatullah Mojtaba Khamenei is injured but “safe and sound”, the son of the president said on Wednesday, offering the first official explanation for why the 56-year-old has not been seen since his appointment at the weekend. “I heard news that Mojtaba Khamenei had been injured. I have asked some friends who had connections,” Yousef Pezeshkian, who is also a government adviser, wrote in a post on his Telegram channel. “They told me that, thank God, he is safe and sound,” added the son of President Masoud Pezeshkian. Mojtaba, until now a low-profile but powerful behind-the-scenes figure, was named Iran’s number one following the assassination of his father Ayatollah Ali Khamenei in an air strike at the start of the US-Israeli war against the Islamic republic. But there had been mounting questions about his whereabouts and physical condition after his appointment by the

Assembly of Experts clerical body, with the new supreme leader yet to be seen, let alone speak, in public. State television had called the new supreme leader a “wounded veteran of the Ramazan war” without giving details. In a report on Wednesday, the New York Times quoting three unnamed Iranian officials said that Khamenei “had suffered injuries, in-

cluding to his legs, but that he was alert and sheltering at a highly secure location with limited communication”. There has been speculation that he was injured in the day-time airstrike on a compound in Tehran that led to the deaths of his father, as well as his mother and wife on the first day of the war on February 28.

NEWS 07

Thursday, 12 March 2026 | ISLAMABAD

CORPORATE CORNER

Girls college principal Prof Dr Lubna gives away shield to Falaqaat Imran, former president women chamber of commerce. pR

Strengthening National Identity System through Integration with Civil Registration Records ISLAMABAD

Staff RepoRt

The National Database and Registration Authority (NADRA), in pursuance of its statutory mandate under Sections 7(b)(ii) and 21 of the National Database and Registration Authority Ordinance 2000, and Rules 16 and 17 of the National Database and Registration Authority (National Identity Card) Rules 2002, has undertaken a nationwide reconciliation of civil registration records with the national citizen database to ensure the accuracy and integrity of Pakistan’s identity system.Under the legal framework governing NADRA, the Authority maintains and updates the national citizen database by incorporating vital lifeevent information—birth, death, marriage, and divorce—received from provincial and local Civil Registration Management Systems (CRMS). These records are reported and registered at local civil registration authorities, including Union Councils, Town Committees, and Cantonment Boards, typically by blood relatives of the concerned individuals.As part of this reconciliation exercise, NADRA has cancelled approximately 4.2 million Computerized National Identity Cards (CNICs) belonging to individuals who had already been recorded as deceased in the provincial civil registration systems. In many cases, while deaths had been formally registered by families, the next of kin had not subsequently applied for cancellation of the CNICs of the deceased, resulting in a discrepancy between civil registration records and the national identity database.

foodpanda announces social and welfare initiatives for Ramazan 2026 KARACHI

Staff RepoRt

Online delivery platform foodpanda has launched several special initiatives during Ramadan, focusing on the physical, emotional, and spiritual well-being of its delivery partners.Under the daily “Iftar Dastarkhwan” program, more than 2,000 riders across the country are being provided with nutritious meals every evening at the time of iftar. Along with this initiative, a nationwide night cricket tournament is also underway, in which 350 riders from different areas of Karachi, Lahore, and Islamabad are participating.In preparation for the last ten days of Ramadan and Eid al-Fitr, foodpanda is introducing some of its most significant rewards. The company will sponsor Umrah packages for 10 outstanding riders, ensuring regional representation, with special consideration for riders from Faisalabad and Multan.At the end of Ramadan, 1,000 valuable Eid gift boxes will also be distributed among the bestperforming riders in both large and small cities. In addition, corporate employees will personally deliver more than 5,000 boxes of sweets to riders across the country as a gesture of appreciation for their services.On this occasion, Muntaka Peracha, CEO of foodpanda Pakistan, said:“Ramadan is a month of reflection and collective harmony. The 2026 roadmap reflects that the company values the human side of business and aims to take practical steps to improve the lives of people in Pakistan.”Apart from these internal activities, foodpanda is also collaborating with various welfare organizations to assist in the distribution of ration bags to deserving individuals.

Federal Government Appoints Farid Ahmad Tarar as Chairman CCP

NAWAZ SHARIF, CM MARYAM NAWAZ MEET TASHKENT GOVERNOR; AGREE TO STRENGTHEN ECONOMIC COOPERATION

LAHORE

Staff RepoRt

RESIDENT of Pakistan Muslim League (N) Nawaz Sharif and Chief Minister Punjab Maryam Nawaz Sharif met Governor of Tashkent Region Zoir Mirzaev, who called on them along with a seven-member delegation in Lahore. During the meeting, both sides agreed to declare Punjab and Tashkent as sister provinces and decided to form a special committee to advance bilateral cooperation. The two sides discussed opportunities for collaboration in tourism, agriculture, livestock, meat processing, beverages, citrus fruit and other sectors. A proposal from Uzbekistan to establish a Babur Park in Lahore also came under consideration. The Tashkent governor praised the restoration of Mughal-era heritage sites in Lahore and commended the efforts of the Punjab government in preserving historical landmarks. Governor Mirzaev conveyed a message of goodwill from the president of Uzbekistan for the people of Pakistan, particularly those in Punjab. Chief Minister Maryam Nawaz thanked him for the sentiments and accepted the invitation to visit Uzbekistan. Speaking on the occasion, Nawaz Sharif said the people of Pakistan take

pride in Uzbekistan’s rich cultural and scholarly heritage, noting that Samarkand has historically been a centre of knowledge and learning. He remarked that the first Mughal emperor came to the subcontinent from Fergana Valley and that his remarkable rule continues to be remembered in history. He also highlighted Lahore’s centuries-old heritage and expressed his deep affection for the city, recalling that he

would often visit Lahore even during his tenure as prime minister. Governor Mirzaev described his meeting with Nawaz Sharif as an honour and expressed optimism about expanding social and economic cooperation between Pakistan and Uzbekistan. He said Uzbekistan offers significant opportunities for collaboration in sectors including tourism, pharmaceuticals and agriculture, adding that demand for textiles—particu-

Motorway Hazrat Ali’s (RA) Courage and Bravery Are Timeless; His Lahore-Sialkot Approved From 2 To 3 Teachings Remain a Guiding Light for Us: Azma Bokhari Lanes LAHORE

Staff RepoRt

Punjab Minister for Information and Culture Azma Bokhari has said that the courage, bravery and determination of Hazrat Ali (RA) are timeless and unparalleled. She said that the teachings of Hazrat Ali (RA) are a guiding light for humanity, adding that the Holy Prophet Muhammad (PBUH) described Hazrat Ali (RA) as the “City of Knowledge.” Azma Bokhari further said that

the life of Hazrat Ali (RA) offers many valuable lessons for humanity. Even at the moment of his martyrdom, he gave priority to prayer, which reflects his elevated moral and spiritual character. The Information Minister said that foolproof security arrangements have been made across the province on the occasion of Youm-e-Ali. Officers and personnel of the Punjab Police are fully vigilant and performing their duties diligently to ensure the security of processions and

Greatness begins with sharing: TCL Spreads Ramazan Joy at Alkhidmat Aghosh Home Sheikhupura

mourning gatherings, so that mourners remain protected from any potential threat. Azma Bokhari added that all processions will conclude before Maghrib prayers. She appealed to the public to cooperate with the police and administration in maintaining law and order. She assured that the Government of Punjab and security institutions are fully active and committed to ensuring the safety of citizens and maintaining peace through all possible measures.

AIOU highlights Prophet’s Teachings on Kindness and Welfare

LAHORE

Staff RepoRt

TCL, Pakistan’s No. 1 LED TV brand, embracing the true spirit of Ramadan, partnered with Alkhidmat Foundation to bring warmth, joy, and support to the children residing at Aghosh Home in Sheikhupura. Through this initiative, TCL highlighted its philosophy that #GreatnessBeginsWithSharing, using its resources to make a meaningful impact on the lives of the young residents.As part of this initiative, TCL hosted a series of iftar gatherings for a week at Aghosh Home, sharing the blessings of the holy month with the children and staff of the facility. The initiative created an atmosphere of celebration and togetherness, where the TCL team spent time with the children, sharing meals and engaging in meaningful interactions.Adding to the spirit of the occasion, popular influencer Ken Doll also joined the gathering, spending time with the children and helping make the evenings memorable. His presence brought excitement and smiles to the young residents, who enjoyed the opportunity to share the special Ramadan moments.Beyond the iftar gatherings, TCL also donated essential home appliances, including LED TVs and a washing machine, to support the daily needs of the children and improve living facilities at the home. These contributions aim to enhance the comfort and wellbeing of the residents, ensuring a more supportive environment for their growth and development. Majid Khan Niazi, Director of Marketing for TCL Middle East and Africa, stated: "Ramadan is a time to come together, share joy, and support those who need it most. At TCL, we believe that #GreatnessBeginsWithSharing, not just through our technology, but through meaningful initiatives that bring comfort, happiness.

ISLAMABAD

Staff RepoRt

At the third session of the weekly Seerat lecture series at Allama Iqbal Open University (AIOU), the important aspect of the Holy Prophet’s ‫ ﷺ‬life, “Service to Humanity” was highlighted. Delivering the lecture, Dr. Muhammad Abu Bakr Siddiqi said that the entire blessed life of the Holy Prophet ‫ ﷺ‬is a practical model of serving humanity, compassion and goodwill.Dr. Abu Bakr Siddiqi explained that the Prophet ‫ ﷺ‬through his teachings and practical life, made it clear that serving humanity is a fundamental requirement of Islam. He ‫ ﷺ‬treated not only Muslims but all people with kindness, justice and mercy. Assisting orphans, the poor, widows and those in need was an essential part of his ‫ ﷺ‬life and caring for society’s vulnerable groups was considered a responsibility.Dr. Siddiqi emphasized that serving humanity is a core command of religion and the true meaning of religion is goodwill and the welfare of people. He stressed that helping someone in need is not only a great investment for the Hereafter but also the best way to attain Allah’s pleasure. Regardless of the extent of one’s ability, whether small or large or whether one is financially constrained or well-off, service to humanity is essential.Dr. Abu Bakr Siddiqi added that in today’s times, there is a strong need to adopt the spirit of serving humanity as a part of life in light of the Prophet’s ‫ ﷺ‬teachings and to play a practical role in the welfare of people.Delivering the inaugural remarks, Syed Ghulam Kazim Ali, Head of Library said that the weekly Seerat sessions are organized jointly by the University’s Central Library and the Faculty of Arabic and Islamic Studies.

Punjab Family Planning Program’s ‘Behtar Qadam’ Initiative Underway to Promote a ‘Nayi Soch’ for Family Wellbeing

ISLAMABAD

Staff RepoRt

The Federal Government has appointed Mr. Farid Ahmad Tarar as the Chairman, Competition Commission of Pakistan (CCP). He brings over three decades of experience in public financial management, regulatory reform, and economic governance. He has worked extensively with international development partners on major reform initiatives across Pakistan, serving as Team Leader in a European Union–funded Public Financial Management (PFM) Reform Programme, Strategic Policy Advisor in the FCDO-funded SEED programme, and Team Leader in a UNICEFsupported initiative on strengthening PFM systems. In these roles, he played an integral part in advancing fiscal policy design, public expenditure reviews, institutional strengthening, and revenue reform efforts. Earlier, he served as Pakistan’s Commercial Counsellor in Rome, advancing Pakistan’s trade.

larly polyester—is high in Uzbekistan and Pakistani companies would be welcomed for joint ventures. Chief Minister Maryam Nawaz Sharif said Uzbekistan is a brotherly country and emphasised the importance of strengthening bilateral social and economic ties. She noted that her affection for Uzbekistan was inherited from her father Nawaz Sharif and her late mother. She pointed out that several Uzbek cuisine restaurants in Lahore reflect the cultural affinity between the two nations. Highlighting Punjab’s economic potential, the chief minister said the province accounts for about 70 per cent of Pakistan’s agricultural production and hosts major industrial centres such as Sialkot, Wazirabad and Faisalabad. Maryam Nawaz added that Pakistani rice is considered among the best in the world, while maize and wheat are also major crops in Punjab. She said the province is focusing on value-added agricultural and livestock products and has made significant investments to improve the quality of meat for export. She expressed confidence that Pakistan and Uzbekistan could achieve remarkable results through cooperation, noting that Pakistan is emerging as a leader in value-added textiles, with products such as bed sheets, towels and other textile goods enjoying strong demand worldwide.

LAHORE: Under the umbrella of the Punjab Family Planning Program (PFPP), led by the Health and Population Departments, Government of Punjab, the on-ground initiative “Behtar Qadam” is now actively underway to promote a “Nayi Soch”—a renewed way of thinking about family planning—across the country’s most populous province. Implemented in collaboration with partners Rayn and Riz Consulting, the outreach program does not impose choices; instead, it walks alongside families as a trusted partner in life. Through inclusive engagement with women and husbands, youth, extended families, community members, NGOs and community-based organizations, as well as religious scholars, the initiative is actively reaching communities across all 41 districts of Punjab. The program emphasizes dialogue, awareness, and shared responsibility to support healthier families and stronger communities. Rooted in shared values of responsibility, compassion, and thoughtful decision-making, Behtar Qadam encourages youth, married couples, and families to make informed and healthier choices for a more secure future. The initiative promotes a fresh perspective centered on wellbeing, opportunity, and stronger households, with a special emphasis on maternal, newborn, and child health. By supporting planned and healthy spacing between children and empowering communities to consider the long-term benefits of their decisions, the initiative contributes to the social and economic stability of families, communities, and ultimately the province and the country. Staff RepoRt

ISLAMABAD

Staff RepoRt

Federal Minister for Communications Abdul Aleem Khan presided over a high-level National Highway Authority (NHA) meeting today where several landmark decisions regarding the country's Motorway network were approved. During the meeting, it was formally decided to commence work on expanding the Lahore-Sialkot Motorway from 2 lanes to a 3lane facility. Similarly, Federal Minister issued directives to accelerate construction on the Sialkot-Kharian and Islamabad Motorway, confirming that these routes will also be developed as 3-lane dual carriageways. Federal Minister Abdul Aleem Khan emphasized a new policy standard, stating that no future Motorway project will be constructed with fewer than 3 lanes on each side, totaling a 6-lane configuration. He underscored that infrastructure planning must proactively address the nation's future travel requirements rather than just current demand.Federal Minister for Communications Abdul Aleem Khan further instructed the NHA to expedite work on the Sialkot-Rawalpindi Motorway in collaboration with the Frontier Works Organization (FWO). He noted that the completion of this vital link would significantly reduce the traffic burden on the M-2 and drastically improve the travel experience between Lahore and Islamabad. By providing a more direct route, the distance between the two major cities will be reduced by approximately 100 kilometers, saving commuters at least one hour of travel time, he added. In a move to bolster religious tourism, the meeting also reviewed plans to link Kartarpur and Nankana Sahib directly to the Motorway network. These new highways will also feature 3 lanes and high-standard safety fencing to ensure secure and efficient transit for pilgrims.Highlighting the economic potential of religious tourism, Federal Minister Abdul Aleem Khan remarked that these initiatives would encourage a large influx of the Sikh Community from Europe, North America, and beyond.

Google New AI Professional Certificate now available in Pakistan ISLAMABAD

Staff RepoRt

Google today announced the launch of the Google AI Professional Certificate, a new industry-validated credential designed to bridge the growing AI skills gap. Moving beyond basic theory, the program focuses on AI fluency, equipping workers with the practical, hands-on ability to integrate artificial intelligence into their daily professional workflows.As AI fundamentally reshapes the global economy, the demand for AI-literate talent has reached a critical tipping point. However, a significant 'training gap' threatens this transition; new research from Ipsos and Google reveals that while 70% of managers believe an AI-trained workforce is vital for success, only 14% of workers have actually been offered AI training. This certificate is designed to bridge that divide.Master AI by DoingThe program is grounded in a “Learn by Doing” philosophy, featuring over 20 hands-on activities. To ensure learners have the best tools for the job, enrollment includes three months of no-cost access to Google AI Pro. This allows participants to practice directly with Google’s most advanced models within the tools they already use, such as Gmail, Google Docs, and Gemini in Google Sheets.A Curriculum Built for the Modern WorkplaceThe certificate is comprised of six comprehensive courses and a final capstone, all delivered by Google experts and AI practitioners:● Course 1: AI Fundamentals – Master essential concepts and effective prompting.● Course 2: AI for Brainstorming and Planning – Build detailed timelines and project plans.● Course 3: AI for Research and Insights – Use Deep Research and NotebookLM to pressuretest ideas.● Course 4: AI for Writing and Communicating – Adapt messaging for stakeholders and prep for presentations.

Thursday, 12 March, 2026

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IHC IMPOSES RS100,000 FINE ON NAB FOR DELAY IN £190M GRAFT CASE AGAINST IMRAN, BUSHRA NEWS

ISLAMABAD

staff report

HE Islamabad High Court (IHC) on Wednesday fined the National Accountability Bureau (NAB) Rs100,000 for what it described as "delaying tactics" in the £190 million Al-Qadir Trust corruption case involving former prime minister Imran Khan and his wife, Bushra Bibi. The decision was made by a division bench consisting of IHC Chief Justice Sardar Muhammad Sarfraz Dogar and Justice Muhammad Asif during a hearing on petitions filed by Imran Khan and Bushra Bibi. The couple had approached the court seeking the suspension of their sentences and appealing their convictions in the case. Before the hearing commenced, NAB submitted a legal response to the court, raising a preliminary objection regarding the court's jurisdiction. The bu-

reau argued that the applications filed by Imran Khan and Bushra Bibi under Section 426 of the Criminal Procedure Code (CrPC) were premature. NAB stated that

the appeals had not yet been formally admitted for a regular hearing by the high court. Citing legal precedents, NAB maintained that the term "pending ap-

peal" refers to appeals that have been admitted for hearing, and therefore, the applications for suspension of sentence should not be entertained at this stage. However, the IHC bench rejected NAB's argument and expressed dissatisfaction with the bureau's approach. The court observed that NAB was employing tactics that resulted in unnecessary delays in the proceedings. As a consequence, the court imposed a fine of Rs100,000 on NAB for its conduct. The hearing was part of ongoing legal proceedings in the high-profile AlQadir Trust case, which centers on allegations of corruption involving the transfer of £190 million. Both Imran Khan and Bushra Bibi have denied any wrongdoing and are challenging their convictions in the IHC. The court's order is expected to impact the pace of the case as it continues to hear appeals and related applications from the former prime minister and his spouse.

PTI chairman raises concerns over delay in Imran Khan’s release ISLAMABAD

Balochistan and KP prepare for toxic smoke as westerly winds carry pollutants ISLAMABAD

staff report

Authorities in Balochistan and Khyber Pakhtunkhwa are making preparations as hazardous smoke and pollutants are expected to drift into the regions due to westerly winds, according to a report published on Monday. The movement of these winds is pushing toxic air from neighbouring areas towards Pakistan, raising concerns over air quality and public health in both provinces. Environmental officials have warned that the incoming pollutants could pose significant health risks, particularly for vulnerable groups such as children, the elderly, and those with pre-existing respiratory conditions. According to the report, the hazardous smoke is anticipated to affect several districts in Balochistan and Khyber Pakhtunkhwa. Authorities are monitoring the situation closely and have advised residents to take precautionary measures, including limiting outdoor activities and using protective masks where possible. Health experts have also urged hospitals and clinics in the affected areas to prepare for a possible increase in patients with respiratory issues. The authorities are coordinating with environmental agencies to track the movement of the pollutants and to issue timely advisories to the public. The report highlighted that the situation is being monitored continuously, and updates will be provided as more information becomes available. Residents in the affected regions have been encouraged to stay informed through official channels and to follow any guidance issued by local authorities.

Eid ul Fitr 2026 in Pakistan expected on March 21 ISLAMABAD

staff report

The Pakistan Space and Upper Atmosphere Research Commission (Suparco) has indicated that Eid ul Fitr in 2026 is likely to be observed on March 21 in Pakistan, following a 30-day month of Ramadan. According to Suparco experts, the chances of sighting the Shawwal crescent on the evening of March 20, 2026, are minimal. As a result, Ramadan is expected to last for the full 30 days, with Eid ul Fitr being celebrated the next day, on March 21. Suparco's forecast is based on astronomical calculations and the expected visibility of the Shawwal moon. The commission regularly provides such projections to assist the public and authorities in planning for major Islamic events. The final decision regarding the start of Eid ul Fitr, however, will be made by the Central Ruet-e-Hilal Committee, which is responsible for the official moon sighting announcements in Pakistan. Muslims across Pakistan mark Eid ul Fitr with special prayers, gatherings, and celebrations at mosques and open grounds. The festival signifies the end of Ramadan, a month of fasting, prayer, and reflection for the Muslim community.

staff report

The chairman of Pakistan Tehreek-e-Insaf (PTI) has expressed concern regarding the delay in the release of party founder Imran Khan, following recent court orders. According to details, the PTI chairman questioned why Imran Khan has not yet been released despite the issuance of relevant court orders. He stated that the party and its supporters are awaiting the implementation of the legal directives for Khan’s release. The PTI chairman emphasized that the delay in releasing Imran Khan is causing unrest among party members and supporters. He called on the authorities to ensure that the court’s decision is implemented without further delay. He further stated that the party

will continue to pursue all legal avenues to secure the release of Imran Khan and uphold the rule of law. The chairman reiterated PTI’s commitment to peaceful and lawful means in seeking justice for its founder. Imran Khan, the former prime minister and founder of PTI, has been in custody following a series of legal proceedings. The party has

repeatedly called for his release, citing court orders in his favor. The PTI chairman’s remarks come amid ongoing political tensions and legal battles involving the party leadership. Supporters have continued to demand Imran Khan’s immediate release, while party officials have urged authorities to respect judicial decisions.

Israeli military actions in Gaza could trigger wider regional crisis, warns Pakistan ISLAMABAD

staff report

Pakistan has voiced strong concerns over the ongoing Israeli military operations in Gaza, warning that such actions could escalate into a broader regional crisis. According to an official statement from the Foreign Office, Pakistan condemned the continued Israeli aggression in Gaza, describing it as a serious threat to peace and stability in the Middle East. The Foreign Office emphasized that the situation in Gaza is deteriorating rapidly due to Israeli military actions. The statement

highlighted the urgent need for the international community to intervene and prevent further escalation. It also called for an immediate ceasefire and the protection of civilians, stressing that the use of force against the Palestinian population must end. Pakistan reiterated its longstanding support for the Palestinian cause and the right of the Palestinian people to self-determination. The Foreign Office urged the United Nations and other international organizations to take concrete steps to address the humanitarian crisis in Gaza and ensure the delivery of aid to those

affected by the conflict. The statement further warned that the ongoing violence could have far-reaching consequences beyond Gaza, potentially destabilizing the entire region. Pakistan called on all parties to exercise restraint and work towards a peaceful resolution of the conflict through dialogue and diplomacy. Pakistan has consistently condemned Israeli actions in the occupied Palestinian territories and has called for the establishment of an independent and viable Palestinian state based on pre1967 borders, with Al-Quds AlSharif as its capital.

Five Sindhi labourers injured in grenade attack on Pasni House, say police GWADAR

staff report

Five labourers from Sindh sustained injuries in a grenade attack on a residential quarter in Pasni, Balochistan, late Tuesday night, according to police officials. Police reported that unidentified assailants on motorcycles threw a grenade at a house located in Ward No. 9 of the coastal town. The explosion occurred in the courtyard of the residence, resulting in injuries to five individuals and damaging part of the building. The injured men, all reportedly hailing from Larkana and Qambar Shahdadkot districts in Sindh, were working as labourers in Gwadar. Police responded promptly to the incident, arriving at the scene and transferring the wounded to the district hospital for medical treatment. A police official stated, “The condition of one in-

jured is serious, while others are stable despite receiving multiple injuries.” Authorities have launched an investigation into the attack. As of now, no group has claimed responsibility for the incident. The attack comes amid a noted increase in militancy in Balochistan and Khyber Pakhtunkhwa over the past year. However, police noted that there had been a reduction in militant activity following recent law enforcement operations in the region.

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Judicial courage is a constitutional duty, not activism, says former SC judge Minallah ISLAMABAD

staff report

Former Supreme Court judge Justice Athar Minallah has emphasised that demonstrating courage in the judiciary is a constitutional obligation rather than an act of activism. Speaking at an event, Justice Minallah stated that courts are mandated to protect the rights of the vulnerable and powerless segments of society. Justice Minallah asserted, "Judicial courage is a constitutional duty, not activism." He highlighted the crucial role that the judiciary plays in upholding the Constitution and ensuring justice for all, particularly those who lack power or influence. According to him, the courts must act as guardians for the marginalized and ensure their rights are protected under the law. He further noted that the judiciary's responsibility is not limited to interpreting laws but extends to safeguarding the fundamental rights of citizens. Justice Minallah stressed that the courts must not shy away from taking bold decisions when it comes to protecting the powerless, as this is an essential part of their constitutional mandate. During his remarks, the former judge underscored the significance of judicial independence and the necessity for judges to perform their duties without fear or favour. He reiterated that the judiciary must remain steadfast in its commitment to the Constitution, regardless of external pressures or criticism. Justice Minallah's comments come amid ongoing discussions about the role of the judiciary in Pakistan and the boundaries between judicial activism and fulfilling constitutional responsibilities. He clarified that exercising judicial courage should not be misconstrued as activism, but rather as fulfilling the judiciary's core duty to uphold justice and protect the rights of the most vulnerable. His statements have sparked dialogue within legal circles about the importance of a proactive judiciary in defending constitutional rights and ensuring that justice is accessible to all citizens, especially those who are often overlooked or marginalized.

APNS urges PM Shehbaz to clear newspapers’ dues before Eid

ISLAMABAD

staff report

The All Pakistan Newspapers Society (APNS) has appealed to Prime Minister Shehbaz Sharif to approve the payment of long-pending dues of newspapers before Eid, stating that the delay has pushed media organisations across the country into a severe financial crisis. In a statement issued on Tuesday, APNS President Sarmad Ali said the payment had already been approved by the Economic Coordination Committee (ECC) earlier this month but was still awaiting formal approval. He said the continued non-payment of outstanding dues had created acute financial difficulties for newspaper organisations, leaving them unable to meet essential obligations, including the payment of employees’ salaries ahead of Eid. According to the APNS president, the financial strain on newspapers has intensified in recent months due to rising inflation and the sharp increase in petroleum prices, which have significantly raised operational costs for media houses. “The liquidity crunch faced by newspapers has further deepened due to the high cost of living and the unprecedented hike in petroleum prices,” Sarmad Ali said, adding that immediate payment of the outstanding dues would help media organisations manage their financial commitments and provide relief to workers. He urged the prime minister to formally approve the payment of the pending dues that had already been recommended by the ECC so that newspapers could overcome their liquidity problems. The APNS expressed confidence that Prime Minister Shehbaz Sharif would personally take notice of the matter and direct the federal cabinet to approve the release of funds at the earliest to ease the financial difficulties faced by newspaper workers before Eid.

IMF presses Pakistan to bring traders into tax net through asset-based levy g

FBR RESISTS PROPOSAL AS PAST ATTEMPTS TO BRING RETAILERS INTO TAX NET FAILED PROFIT

staff report

The International Monetary Fund has asked Pakistan to consider introducing an assetbased tax system for traders who remain outside the formal tax net, The Express Tribune reported, citing officials familiar with discussions between the government and the lender. Under the proposed system, traders would be taxed based on their asset holdings rather than location or shop size. The proposal emerged after earlier attempts to tax the retail sector, including the Tajir Dost Scheme and retail-based tax targets, failed to generate the expected rev-

enue. However, officials said the Federal Board of Revenue has expressed reservations about implementing the new approach. Tax authorities have argued that such a system would be difficult to implement because many traders do not file tax returns, making it hard to determine their assets or calculate liabilities. Over the past three years, the government has introduced multiple schemes to bring retailers into the tax net. One initiative during the Pakistan Democratic Movement government imposed a fixed tax on retailers through electricity bills, but it was later withdrawn following political opposition. Another scheme launched under the

current IMF programme sought to collect about Rs50 billion in the last fiscal year by imposing a fixed monthly income tax ranging from Rs100 to Rs60,000 depending on the size of business premises. The scheme was initially applied to commercial areas and later expanded to shops operating in residential neighbourhoods. It targeted traders involved in various parts of the supply chain in 42 cities across the country, including 25 cities in Punjab, seven in Sindh, six in Khyber Pakhtunkhwa, three in Balochistan and Islamabad. However, the government suspended the programme in August 2024 after trade unions announced a nationwide strike against the measure.

Tax officials said political resistance and the influence of trader groups have limited the effectiveness of such initiatives. They argued that measures such as point-ofsale systems and digital invoicing could gradually bring retailers into the tax system, though progress has remained slow. Data from the FBR shows that during the first eight months of the current fiscal year traders paid about Rs28 billion in withholding taxes, only Rs5 billion more than the same period last year. An additional Rs17 billion was collected through withholding taxes at the supply stage. Combined tax collections under sections 236-G and 236-H totalled about Rs45 billion

Published by Asad Nizami at Plot # 7, Al-Baber Centre, F/8 Markaz, Islamabad, for PT Print (Pvt) Limited. Ph: 051-2204545. Email: newsroom@pakistantoday.com.pk

during the period. In comparison, salaried individuals paid more than Rs350 billion in income taxes in the same fiscal year. Officials said manufacturers have also not consistently shared retailer data despite collecting withholding taxes from them under existing rules. During the first eight months of the fiscal year, the revenue gap against the original target has already exceeded Rs640 billion despite additional collections following court rulings on the super tax. The FBR has informed the IMF that it may revise the tax collection target downward to about Rs13.5 trillion for the current fiscal year.