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Saturday, 5 September, 2026 | 22 Rabiul Awwal, 1448

Rs 20.00 | Vol XVII No 161 | 8 Pages | Lahore Edition

PM SAYS REFORMS RESTORE STABILITY, BOOST INVESTOR CONFIDENCE AFTER DIFFICULT TURNAROUND g

PAKISTAN EARNS STABLE OUTLOOK UPGRADES FROM FITCH, MOODY’S AND S&P, PREMIER SHEHBAZ TELLS ADB VP

STRESSES EARLY GROUNDBREAKING OF KARACHI-PESHAWAR ML-1 RAILWAY CORRIDOR

REITERATES HIS GOVT DISMANTLING ADMINISTRATIVE BOTTLENECKS THROUGH DEDICATED TASK FORCES

PAKISTAN, ADB EXPLORE COOPERATION IN SMES, ENERGY, EXPORTS, AI AND IT

– reaffirms Pakistan’s ‘strong, abiding’ support for UN, multilateralism ISLAMABAD

STAFF REPORT

ISLAMABAD SALEEM JADOON

RIME Minister Shehbaz Sharif on Friday said the government’s corrective measures had restored macroeconomic stability, strengthened investor confidence and secured stable outlook upgrades from major international credit rating agencies, including Fitch, Moody’s and S&P, as Pakistan successfully navigated a difficult economic turnaround through rigorous fiscal, structural and governance reforms. The prime minister made these remarks while hosting a breakfast meeting for Asian Development Bank (ADB)

Vice President for South, Central and West Asia Yingming Yang, during which they reviewed the institution’s multidecade development partnership with Pakistan and priority interventions under the new Country Partnership Strategy (CPS) 2026–2030. Welcoming Yingming Yang on his first official visit to Pakistan in his capacity as ADB vice president, Prime Minister Shehbaz appreciated the bank’s consistent professionalism and responsiveness in delivering transformative urban infrastructure, transport and public service projects across the country. Reaffirming the government’s steadfast commitment to long-term economic transformation, the prime minister said

Maj Gen Faisal Naseer appointed NACTA national coordinator for three years ISLAMABAD

STAFF REPORT

Major General Faisal Naseer, director general of counterintelligence at InterServices Intelligence (ISI), was appointed on Friday as national coordinator of the National Counter Terrorism Authority (NACTA) for a three-year period on a secondment basis. According to a notification issued by the Establishment Division, the appointment was made with the approval of the federal government under Section 9(1) of the NACTA Act, 2013. The notification said Maj Gen Naseer, HI(M), T. Bt & Bar, would assume the position with “immediate effect and until further orders”. His appointment has been made on standard terms and conditions applicable to secondment. NACTA, established in 2008 under the Ministry of Interior, serves as the country’s central body for coordinating counterterrorism and counterextremism efforts. The authority is mandated to develop comprehensive national strategies against terrorism and extremism, prepare action plans and monitor their implementation, besides reporting to the federal government on progress. NACTA was also tasked with implementing the 20point National Action Plan formulated to counter terrorism and extremism following the December 2014 Army Public School attack. Maj Gen Faisal Naseer’s appointment comes as Pakistan continues to strengthen coordination among law-enforcement and security institutions in its efforts to counter terrorism and extremism.

Prime Minister Shehbaz Sharif on Friday reaffirmed Pakistan’s strong and abiding commitment to multilateralism and the central role of the United Nations in global affairs, stressing adherence to the principles and purposes of the UN Charter and the need to ensure respect for international law and international treaties. The prime minister expressed these views during a meeting with Ambassador Olara Otunnu, candidate for the position of Secretary-General of the United Nations, who called on him at the Prime Minister House, according to a statement issued by the Prime Minister’s Office (PMO). Ambassador Olara Otunnu was accompanied by Ruhakana Rugunda, Special Envoy of the President of Uganda and former Prime Minister of Uganda. Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Special Assistant to the Prime Minister Tariq Fatemi and Foreign Secretary Ambassador Amna Baloch were also present.

administrative bottlenecks were being actively dismantled through dedicated execution task forces to accelerate implementation and ensure delivery of development priorities. A central focus of the discussions

During the meeting, Prime Minister Shehbaz expressed the hope that the next UN Secretary-General would maintain a strong focus on the three pillars of the United Nations — peace and security, development, and human rights — in an interconnected and balanced manner. Ambassador Otunnu expressed profound gratitude for Pakistan’s enduring contributions to multilateralism and its support for all three pillars of the United Nations. He also appreciated Pakistan’s leadership and its key role in ongoing efforts to promote international peace and security. DPM Dar, Ambassador Otunnu discuss evolving global landscape In a related development, Ambassador Olara Otunnu, candidate for the position of UN Secretary-General, along with Ruhakana Rugunda, Special Envoy of the President of Uganda and former prime minister of Uganda, called on Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar on Friday.

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was the modernisation of the Main Line1 (ML-1) railway corridor from Karachi to Peshawar, which the prime minister described as a vital national infrastructure priority.

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FO rejects India's temple demolition allegations as 'politically motivated' ISLAMABAD

STAFF REPORT

The Foreign Office on Friday rejected India’s allegations regarding the reported demolition of a century-old Hindu temple in Narowal as "false and politically motivated," saying the structure was damaged by torrential rains. FO spokesperson Sajjad Haider Khan was responding to media queries about the temple located at Adda Siraj in Narowal after India’s Ministry of External Affairs expressed concern on September 2 over reports of its destruction. India had described the reported demolition as an act of vandalism targeting a historic place of worship belonging to a minority community. “We categorically reject the false and politically motivated assertions made by the Indian Ministry of External Affairs,” Khan said.

He said the temple structure had been damaged on July 21, 2026, due to torrential rains, rejecting allegations that it was deliberately demolished. According to the spokesperson, local authorities had surveyed the damage caused by the rains and initiated measures for restoration of the building. “It is, therefore, shameful that

India is distorting facts and resorting to cheap gimmicks,” he said. The Pakistani government has maintained that the more than century-old temple collapsed following heavy rainfall. However, a minority rights group had alleged that the structure was deliberately demolished to facilitate the expansion of an adjoining seminary.

48 terrorists eliminated in ‘high-tempo’ Balochistan operations over 72 hours: ISPR RAWALPINDI

STAFF REPORT

Security forces have killed 48 terrorists belonging to what the military described as “Indian proxies – Fitnaal-Hindustan and Fitna-al-Khawarij” in a series of “high-tempo” anti-terror operations across Balochistan over the past three days, as authorities stepped up counterterrorism efforts amid a recent surge in militant activity in the province. According to the military’s media wing, the operations were conducted in Mastung, Quetta, Kalat and Sibi districts, targeting terrorist hideouts and movements linked to “Indian proxies – Fitna-al-Hindustan and Fitna-al-Khawarij”. In a statement issued on Friday, Inter-Services Public Relations (ISPR) said security forces killed six “Indian-sponsored terrorists” during an intelligencebased operation (IBO) in Mastung district after detecting the movement of terrorists. “Six khawarij were effectively engaged and killed in the ensuing exchange of fire,” the ISPR said. A cache of ammunition and improvised explosive devices (IEDs) was also recovered and destroyed during the operation, it added. The state designates the term Fitna-al-Khawarij for the banned Tehreek-i-Taliban Pakistan (TTP) and Fitna-alHindustan for Balochistan-based groups, to highlight India’s alleged role in terrorism and destabilisation efforts across Pakistan. In another IBO in the Shaban area of Quetta district, security forces identified four “khawarij hideouts”. Following an exchange of fire, 26 terrorists were killed, according to the ISPR. In Kalat district, security forces raided a terrorist hideout, killing two terrorists in the ensuing firefight, the military said. Meanwhile, in the Bhag area of Sibi district, security forces foiled an attempt by terrorists to raid a local police station, killing two terrorists in the ensuing operation, according to the ISPR. “In last 48-72 hours, 48 terrorists belonging to Indian proxy, Fitna-al-Hindustan and Fitna-al-Khawarij have been neutralised across Balochistan,” the ISPR said. Earlier on Friday, the ISPR also issued details of a September 2 IBO in Kalat district, in which 12 terrorists were killed. The operation was conducted on the reported presence of terrorists belonging to the Indian proxy Fitna-al-Hindustan, the military’s media wing said. ‘President, Naqvi laud security forces over successful operation’ President Asif Ali Zardari hailed the professional capabilities of the security forces for eliminating terrorists in operations across Balochistan. “The killing of more than 1,188 terrorists in Balochistan this year alone is evidence of the threats facing Pakistan and the readiness of the security forces,” he said in a statement. The president expressed the government’s firm resolve to eradicate “foreign-backed and enabled terrorism” from the country. Interior Minister Mohsin Naqvi also commended the security forces for the series of operations that resulted in the killing of 36 terrorists, APP reported. In a statement, Naqvi said the elimination of the terrorists reflected the operational capabilities and commitment of the security forces to maintaining security, adding that the forces had thwarted plans by elements seeking to destabilise the country.

‘Small’ AJK cabinet sworn in as PM Gillani inducts eight ministers ‘without portfolios’ MUZAFFARABAD STAFF REPORT

A relatively small cabinet took oath in Azad Jammu and Kashmir (AJK) on Friday, with Prime Minister Iftikhar Gillani appointing seven directly elected and one indirectly elected lawmakers as ministers without portfolios. Acting President Chaudhry Tariq Farooq administered the oath to the newly

appointed ministers at a ceremony held at the Presidency in the presence of Prime Minister Gillani and PML-N regional president Shah Ghulam Qadir. The eight-member cabinet comprises Raja Saqib Majeed and Dr Mustafa Bashir Abbasi from Muzaffarabad, Sardar Mir Akbar from Bagh, Raja Riasat and Raja Umair Naeem from Kotli, Waqar Noor from Bhimber and Chaudhry Azhar Sadiq from

Mirpur. The eighth member, Chaudhry Abdul Rehman Arain, also belongs to Kotli and is a prominent Birmingham-based businessman. He was elected on a reserved seat representing Kashmiris living abroad. Among the newly inducted ministers, Abbasi, Noor, Akbar and Sadiq have previously served as ministers, while the remaining cabinet members are entering the cabinet for the first time. The composition of the cabinet

comes against the backdrop of an apparent political reconciliation within the ruling PML-N. Shah Ghulam Qadir, who had initially been tipped as the next prime minister, had opposed Gillani’s nomination by the party leadership and did not participate in Gillani’s election as leader of the house or his subsequent swearing-in ceremony on Aug 28.

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IMF chief says joint reform approach ‘worked well’ in Pakistan PROFIT

WEB DESK

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has cited Pakistan as a country where the joint IMFWorld Bank approach to supporting countries with sustainable debt and strong growth-enhancing reforms has “worked well”, as she called for stronger domestic resource mobilisation and measures to attract greater private-sector inflows at lower cost. In her statement at the conclusion of the G20 Finance Ministers and Central Bank Governors Meeting in Asheville, North Carolina, Georgieva said accelerating implementation of the IMF-World Bank Three-Pillar Approach was a key priority in addressing debt challenges facing developing countries. “Together with the World Bank, we

have strengthened support for countries on reform implementation and domestic resource mobilization and continue to work on ways to encourage effective liability management operations, including to incentivize higher private sector inflows at lower cost. This has worked well in countries such as Ecuador or Pakistan,” Georgieva said. She added that securing strong support from other partners, including bilateral creditors, was essential and called on the G20 to take leadership in collective support for growth and investment. The Pakistan reference came under the second of three dimensions outlined by Georgieva for addressing debt challenges in developing economies. Under the first, she called for decisive action in countries where debt was unsustainable, supported by further improve-

ments in debt restructuring processes. She pointed to progress under the G20 Common Framework, including the G20 memorandum of understanding template agreed this year, and work by the Global Sovereign Debt Roundtable, which published an updated “Restructuring Playbook” in April. Georgieva said further work was needed on comparability of treatment and coordination among creditor groups, as well as solutions for countries not eligible for the Common Framework. The second dimension focuses on accelerating the IMF-World Bank Three-Pillar Approach for countries with sustainable debt that are pursuing growth-enhancing reforms. It was in this context that Georgieva specifically cited Pakistan and Ecuador. The third focuses on sound economic fundamentals, with Georgieva stressing the

importance of strengthening debt transparency, debt-management capacity and

debtor-investor relations to prevent an unsustainable build-up of debt.

02 NEWS

Saturday, 5 September, 2026 | LAHORE

PSX GAINS 399 POINTS AS LATE BUYING REVERSES EARLY LOSSES

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BENCHMARK SWINGS BETWEEN AN INTRA-DAY LOW OF 174,515 AND HIGH OF 175,418 BEFORE CLOSING 0.23% HIGHER AT 175,328; WEEKLY SPI INFLATION RISES 0.65% PROFIT

news Desk

HE Pakistan Stock Exchange (PSX) ended Friday's volatile session in positive territory as late buying helped the benchmark KSE-100 Index recover from early losses and close 399.14 points higher. According to the PSX website, the market opened on a weak note, with the benchmark index shedding more than 300 points in early trade. Volatility persisted as the session progressed, with the index swinging between an intraday high of 175,300 and a low of 174,515.38. The market subsequently reversed

PLL warns K-Electric of RLNG supply suspension over Rs6.75 billion in unpaid dues PROFIT

course as buying interest emerged around midday. Momentum strengthened during the final phase of trading, pushing the index to an intra-day high of 175,418.29 before it pared some gains at the close. The index settled at 175,328.82, gaining 0.23% from Thursday's close of 174,929.69. According to the data released by the Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) for the week ended September 3 increased by 0.65%, while weekly inflation stood 8.35% higher on a year-on-year basis. Meanwhile, Finance Minister Muhammad Aurangzeb said on Friday that the government was planning to issue a rupeedenominated, dollar-settled bond as part

FBR amends income tax return form weeks before filing deadline PROFIT

Monitoring report

The Federal Board of Revenue (FBR) has notified amendments to the income tax return form for tax year 2026, weeks before the statutory filing deadline of September 30. According to SRO 1495(I)/2026 issued on Thursday, the FBR has amended the Income Tax Rules, 2002. Under the amendments, new Parts II-ZE, II-ZF, II-ZG and II-ZH have been added to the Second Schedule after Part II-ZD. A tax expert raised concerns over the timing of the changes, saying amendments to the income tax return form at this stage could create legal and technical difficulties for taxpayers and tax practitioners. The expert said the changes could complicate the filing process given the September 30 statutory deadline and called on the FBR to immediately clarify the amendments.

The dollar stabilised ahead of the US payrolls release, while the Japanese yen remained on course for a weekly gain of nearly 2.5%, its strongest performance since late July. European equity markets were largely unchanged, with renewed increases in oil and regional gas prices reinforcing expectations that the European Central Bank could raise interest rates again next Thursday. US stock futures were higher ahead of the August jobs report, with Nasdaq futures gaining 0.4% and S&P 500 futures rising 0.1%. Economists expect the US economy to have added 56,000 jobs in August, following a decline of 23,000 in the previous month, while the unemployment rate is forecast to

Govt considers cutting high-speed diesel refining margin cap to $30 per barrel g

Monitoring report

In a letter to the KE chief executive officer, Pakistan LNG Limited (PLL) has warned KElectric (KE) that it could curtail or suspend regasified liquefied natural gas (RLNG) supplies if the power utility fails to clear Rs6.75 billion in outstanding payments, The state-owned LNG supplier said the outstanding principal against RLNG supplied between May and July 2026 stood at Rs6.7526 billion as of August 27. It said KE had neither cleared the outstanding receivables nor provided a substantive response despite repeated follow-ups. PLL maintained that all invoices had been raised in accordance with the Gas Sale Agreement (GSA) between the two companies and were based on the RLNG tariff notified by the Oil and Gas Regulatory Authority (OGRA). It said KE was obligated to settle the dues under the agreement and that unilateral withholding of payments constituted a breach of the GSA. The company also said continued RLNG supplies to KE were constrained by the financial exposure allowed under the existing Standby Letter of Credit (SBLC) limit of Rs13.084 billion. According to PLL, KE has not provided an enhanced SBLC reflecting the revised RLNG tariff despite repeated requests. PLL warned that if the payment and credit-cover issues persisted, it could become unable to arrange additional LNG cargoes and may consequently reassess, curtail or suspend RLNG supplies to KE.

of efforts to diversify its borrowing sources and reduce reliance on the domestic banking system. The plan follows Pakistan’s recent $3 billion dual-tranche Eurobond issuance. On Thursday, the KSE-100 closed 153.09 points, or 0.09%, higher at 174,929.69 after a volatile session, driven by higher international oil prices, while ongoing geopolitical conflicts kept investors cautious. Globally, equities edged higher ahead of key US employment data on Friday, while bond markets found some relief after comments from a senior Federal Reserve official tempered expectations of another interest rate hike and weighed on the dollar.

PROPOSED REDUCTION FROM EXISTING $41.89-PER-BARREL CEILING AIMS TO LIMIT IMPACT OF ELEVATED INTERNATIONAL DIESEL CRACKS ON CONSUMERS; REFINERIES WARN LOWER MARGINS COULD CONSTRAIN FINANCING FOR $5-6 BILLION UPGRADE PROJECTS PROFIT

Monitoring report

The federal government is considering reducing the cap on high-speed diesel (HSD) refining margins to $30 per barrel from the existing $41.89 as it seeks to limit the impact of unusually high international refining margins on domestic consumers, The News reported. Sources said the revised ceiling is being considered following a sharp increase in international diesel crack spreads amid geopolitical tensions and supply disruptions. The existing HSD crack-spread ceiling of $41.89 per barrel was introduced last month under a revised pricing mechanism and remains in effect. Pakistan’s gross refining margins averaged $28.8 per barrel in August 2026, compared with $36.7 in July and

$5.4 in August 2025. The month-onmonth decline was partly attributed to the government’s HSD crack cap, which took effect on August 20. According to the sources, policymakers consider a margin of $30 per barrel reasonable for domestic refineries. However, refinery companies have raised concerns that a lower cap would reduce profitability at a time when the sector needs to build equity for major upgrade projects. Pakistan’s five existing refineries are preparing investments in deep conversion, cleaner fuel production and capacity expansion under the Brownfield Refining Policy. The sector is expected to require around $5 billion to $6 billion for modernisation projects aimed at increasing petrol and diesel production while substantially reducing furnace oil output.

Refinery officials said reducing the margin cap could weaken their ability to finance the equity component of these projects. While debt financing may be available from banks and financial institutions, sponsors are required to provide significant equity for their respective upgrade programmes. Industry representatives argue that periods of elevated international product cracks provide an opportunity to strengthen refinery balance sheets and fund investment, particularly given the volatility of refining margins. Sources said higher refining margins could help domestic refineries accumulate funds for their planned upgrades, while the government is seeking to balance refinery profitability with consumer protection as elevated international oil and petroleum-product prices put pressure on the domestic economy.

ADB to provide additional $200 million for Pakistan tax reforms, urges broader tax base g

ADDITIONAL FINANCING TO SUPPORT FBR’S DIGITAL TRANSFORMATION, INCLUDING MODERN TAX AND CUSTOMS SYSTEMS, DATA ANALYTICS, AI-ENABLED COMPLIANCE AND CYBER SECURITY; ADB FLAGS NARROW TAX BASE, INFORMALITY AND LOW COMPLIANCE AS KEY CHALLENGES PROFIT

Monitoring report

The Asian Development Bank (ADB) plans to provide an additional $200 million to modernise Pakistan’s revenue administration as it called for broadening the country’s tax base and reducing exemptions to strengthen domestic resource mobilisation. Speaking at a Dialogue on Tax and Fiscal Sustainability in Pakistan on Thursday, ADB Vice President for South, Central and West Asia Yingming Yang said the additional financing would expand the Transforming and Digitalising Revenue Administration Project, which is expected to be considered by the bank’s board this year. The project will support implementation of the Federal Board of Revenue’s (FBR) transformation agenda through investments in digital infra-

structure, modernisation of tax and customs systems, advanced data analytics, artificial intelligence-enabled compliance, stronger cyber security and institutional development. Yang said Pakistan had made progress in restoring macroeconomic stability but the next phase of reforms would depend on its ability to mobilise domestic resources efficiently, equitably and sustainably. He identified Pakistan’s narrow tax base, widespread informality and low compliance as major challenges to the revenue system. The ADB official said the Prime Minister’s FBR Transformation Plan and the new tax operating model could strengthen compliance, improve taxpayer services, reduce discretionary interventions and allow greater use of integrated data and risk-based approaches for revenue mobilisation. He said higher domestic revenues

would provide greater fiscal space for spending on infrastructure, public services and economic resilience while reducing dependence on debt and external financing. ADB has also supported reforms to broaden the tax base, strengthen tax policy, improve transparency and enhance public financial management through its Improved Resource Mobilisation and Utilisation Reform Programme. Yang welcomed the establishment of the Tax Policy Office within the Ministry of Finance, saying it could strengthen analytical capacity and evidence-based policymaking. He said an efficient tax system should have a broad base and limited exemptions to reduce economic distortions and compliance costs, while the tax burden should be distributed more evenly and reflect taxpayers’ ability to pay.

Pakistan moves to develop private equity framework to attract long-term capital

GOVT REVIEWS TAX NEUTRALITY, CAPITAL GAINS TREATMENT, INSTITUTIONAL INVESTMENT AND REGULATORY REFORMS; FRAMEWORK AIMS TO MOBILISE DOMESTIC AND FOREIGN LONG-TERM CAPITAL WHILE INTRODUCING SAFEGUARDS AGAINST TAX ARBITRAGE AND MISUSE PROFIT

news Desk

The federal government is moving to develop a National Private Equity Policy Framework aimed at attracting domestic and international long-term capital, with proposed reforms covering taxation, institutional investment, capital gains, repatriation and exit mechanisms. Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the second meeting of the committee constituted to develop the framework, according to a Finance Division statement issued on September 3. The committee reviewed progress on separate regulatory, taxation, institutional investment and other policy work streams established after its first meeting, with the government seeking to consolidate them into a practical national framework. The proposed framework is intended to strengthen Pakistan’s private equity ecosystem and channel long-term capital into businesses and productive sectors while maintaining regulatory safeguards and fiscal discipline. On the regulatory side, the committee reviewed measures being considered by the State Bank of Pakistan (SBP) to facil-

itate institutional participation in private equity, including investment, repatriation and exit arrangements. It also discussed the accounting treatment of private equity investments under existing banking requirements and International Financial Reporting Standards (IFRS), with a focus on facilitating participation by banks, Development Finance Institutions, insurance companies and pension funds while maintaining prudential and accounting requirements. Taxation formed another major part of the discussions, with the committee considering the principle of tax neutrality for private equity structures. Under the proposed approach, the pooling structure itself would not create an additional layer of taxation, while income would remain taxable at the level of those ultimately earning it. The committee examined existing income-distribution requirements applicable to funds and discussed measures to facilitate investment without creating opportunities for tax arbitrage or erosion of the tax base. Disclosure, registration and antiavoidance measures are also expected to form part of the framework. The government is separately examining the tax treatment of capital gains arising

from transactions involving private companies. The committee discussed developing a system that would avoid unnecessarily discouraging legitimate investments and exits while protecting against undervaluation and other potential misuse. It stressed the need for transparent and credible valuation mechanisms, potentially drawing on internationally recognised private equity valuation practices. The meeting also reviewed work by the Securities and Exchange Commission of Pakistan (SECP) on the proposed legal and regulatory framework for private equity and venture capital. Discussions focused on expanding the domestic institutional investor base and providing greater regulatory clarity and certainty to investors and fund managers. Aurangzeb said private equity could provide businesses with patient, long-term growth capital while supporting domestic investment, entrepreneurship, employment and productivity. He stressed that the objective was not simply to create additional financial structures but to ensure that the proposed framework resulted in actual mobilisation of capital and productive investment. The government also wants to develop domestic fund-management capac-

ity and connect Pakistani businesses and investment opportunities with larger pools of institutional capital, including international investors. The committee agreed that the regulatory, taxation and legal work streams would continue coordinating their work and consolidate their recommendations into a national framework. Relevant institutions were directed to continue technical assessments and bring outstanding issues and recommendations back to the committee. Aurangzeb called for a sequenced transition from policy design to implementation, with the proposed framework intended to complement traditional bank financing and capital-market funding. The meeting also noted Pakistan’s recent $3 billion dual-tranche Eurobond issuance and participation from international investors. Aurangzeb said the response from global capital markets provided an encouraging backdrop for efforts to deepen the equity side of Pakistan’s capital market and diversify sources of long-term financing. The committee agreed to proceed with priority recommendations while incorporating safeguards against misuse and arbitrage as work on the National Private Equity Policy Framework continues.

remain unchanged at 4.1%. Across Asia, MSCI's broadest index of regional shares ended the session 0.8% higher and was little changed for the week. Meanwhile, oil prices remained on track for strong weekly gains as renewed military exchanges between the United States and Iran continued in the seventh month of their conflict. Brent crude was up 6.1% for the week, while US West Texas Intermediate (WTI) crude had gained 8.3%. Both benchmarks, however, declined on Friday. Brent fell 75 cents, or 0.79%, to $94.77 a barrel by 1230 GMT, while WTI dropped 95 cents, or 1.04%, to $90.35 a barrel.

Waves Home Appliances directors subscribe Rs515.7m to rights issue PROFIT

news Desk

Waves Home Appliances Limited said its directors and substantial shareholder have subscribed to 51.57 million rights shares worth Rs515.69 million, representing 34.38% of the company’s total rights issue. In a notice to the Pakistan Stock Exchange (PSX), the company said the shares were subscribed at Rs10 each in accordance with the Companies (Further Issue of Shares) Regulations, 2020 and other applicable laws. The company submitted an auditor’s certificate confirming receipt of the subscription amount. The rights issue had been approved by the company’s board on July 23, 2026. According to the auditor’s certificate, Waves Corporation Limited accounted for the bulk of the subscription, taking up 51,520,280 rights shares for Rs515.20 million. The remaining shares were subscribed by seven individuals, including directors and other shareholders listed in the certificate. In aggregate, the subscribers took up 51,568,658 shares against right-share entitlements of 51,568,376 shares. The auditor noted a discrepancy between Waves Corporation Limited’s shareholding recorded with the Central Depository Company and the company’s own records. It said the subscription was based on the company’s record, while the difference would be resolved through reconciliation. The certificate also noted that two individual shareholders subscribed to 10 shares each in excess of their respective entitlements.

PTA blocks 18.2m SIMs in two years, fines cellular operators Rs4.5b over violations PROFIT

Monitoring report

The Pakistan Telecommunication Authority (PTA) has blocked approximately 18.2 million SIMs over the past two and a half years and imposed Rs4.5 billion in fines on cellular operators for regulatory violations, a parliamentary committee was informed on Thursday. The figures were shared during a meeting of the National Assembly Standing Committee on Interior and Narcotics, chaired by Raja Khurram Shahzad Nawaz, as lawmakers examined the use of stolen biometric information and illegally obtained SIMs in cyber and financial crimes. Officials from the National Cyber Crime Investigation Agency (NCCIA) told the committee that fingerprints and biometric data belonging to around 600,000 citizens were recovered during a single raid. In another case, a suspect arrested in Faisalabad was found with 195 active mobile SIMs, 16 smartphones and 81 ATM cards belonging to different banks. The committee was also informed that employees of cellular companies were involved in leaking customer data. Officials cited a case in Rajanpur where a woman’s thumb impression was allegedly obtained on the pretext of providing ration and subsequently used to acquire a SIM that was later used in terrorism. NCCIA officials said stolen biometric information and illegally obtained SIMs were being used for financial fraud on a large scale. The agency is also working to counter WhatsApp hacking. The NCCIA called for stronger verification mechanisms, including facial and iris recognition, immediate customer alerts when new SIMs are issued, enhanced monitoring and greater coordination among the PTA, National Database and Registration Authority (NADRA), banks, law-enforcement agencies and cellular operators. Minister of State for Interior Talal Chaudhry also informed the committee about an emerging “rent-a-bankaccount” practice, under which individuals allow criminals to use their bank accounts in exchange for a share of the proceeds. The committee directed the Interior Ministry, PTA and cellular operators to address the issues and report back, while calling for stronger cyber security measures to protect citizens’ biometric, telecom and banking information. Separately, the committee expressed concern over delays in transferring land and revenue records between Islamabad and Rawalpindi and directed authorities to expedite the process and provide computerised records to the Islamabad administration.

nEwS 03

Saturday, 5 September, 2026 | lahorE

NA PANEL QUESTIONS COMMERCE MINISTRY’S EXPORT STRATEGY AS PAKISTAN LOSES GROUND IN GLOBAL MARKETS

PROFIT

STAFF REPORT

HE National Assembly Standing Committee on Commerce on Thursday questioned the government’s export strategy and challenged the Commerce Ministry’s explanations for falling shipments, as Pakistan’s exports declined by more than $1 billion during FY2025-26 amid high costs and weak international competitiveness. According to a news report, the committee, chaired by Jawed Hanif Khan, was informed that Pakistan’s exports fell from around $32 billion in FY2024-25 to $30.8 billion in FY2025-26. Commerce Secretary Jawad Paul attributed the decline to several factors, including the regional situation and the conflict in Afghanistan, saying exports of several major commodities had fallen by more than $1.5 billion. Rice exports recorded the largest decline at $1.08 billion, while sugar exports fell by $403 million. Cotton exports declined by $134 million, plastics by $118 million, onions by $77 million and pota-

toes by $74 million. Committee members questioned why Pakistan had failed to increase exports and sought details of measures being taken by the government and the Trade Development Authority of Pakistan (TDAP) to improve exporters’ competitiveness. Officials acknowledged that high energy and import costs had made Pakistani products expensive in international markets, limiting their ability to compete with suppliers from other countries. Paul said Pakistan was also failing to secure its potential share in some international markets despite enjoying substantial tariff concessions in the United States, European Union and United Kingdom. “We are not going there because we are not competitive,” he said in response to a question about why Pakistani exporters were not taking advantage of markets where their products enjoyed tariff exemptions. He said Pakistani textile products faced zero tariffs in the United States and Europe, adding that the government was examining products and markets where exports could be increased. The Commerce Secretary said subsidies

and concessions alone could not make Pakistani products competitive. He also questioned why businesses would export when they could earn better returns by selling their products in the domestic market. He cited competition from India in the rice market, saying India had provided around $1.5 billion in subsidies to its rice exporters, helping them increase exports and making it difficult for Pakistani exporters to compete. The secretary said the government was working on six major components for export growth and was also focusing on trade policy and trade promotion measures. COTTON PRODUCTION HITS 40-YEAR LOW Officials also highlighted the deterioration in Pakistan’s cotton sector, noting that while India was exporting cotton, Pakistan had become an importer. Pakistan’s cotton production has fallen to a roughly 40-year low of between 5 million and 6.85 million bales, compared with a historical peak of more than 14 million bales. Commerce Minister Jam Kamal Khan said addressing constraints on exports required coordination among several govern-

ment bodies, including the Ministry of National Food Security and Research, Ministry of Industries and Production and Federal Board of Revenue (FBR), particularly on production and taxation-related issues. Committee member Gul Asghar Khan questioned the TDAP over measures it had identified to support exporters. He argued that the government could not itself conduct business and should instead create greater opportunities for the private sector. TDAP Chief Executive Faiz Ahmad Chadhar said tensions in the Middle East had caused some disruption to Pakistan’s trade supply chain, although shipping operations had not come to a complete halt. He said the government was taking measures to ensure smooth supply chains despite the regional conflict. AFGHANISTAN BORDER CLOSURE AFFECTS EXPORTS Kamal said there was currently no formal or informal trade with Afghanistan because the borders were closed, affecting Pakistan’s exports to the neighbouring country. He said the closure had also affected pharmaceutical exports as Afghanistan was one of Pakistan’s key des-

Pakistan plans rupee-denominated, dollar-settled bond after $3b Eurobond sale PROFIT STAFF REPORT

Pakistan is planning to issue a rupee-denominated, dollar-settled bond as part of efforts to diversify its borrowing sources and reduce reliance on the domestic banking system, Finance Minister Muhammad Aurangzeb said on Friday during a keynote address at the “Mobilising Private Capital: National Strategic Dialogue on PPPs and Privatisation”, organised by the Asian Development Bank (ADB) in Islamabad. “We have already mandated institutions who are going to work with us on this,” the finance minister said, adding that Pakistan’s reliance on the banking system to meet its borrowing require-

ments was not sustainable and stressed the need to deepen debt capital markets and broaden the investor base. “We really do need to work on debt capital markets to bring a more diversified investor base, whether it’s insurance, NBFIs, to diversify out of the banking system,” he said. The finance minister did not disclose the proposed bond’s size, maturity or expected issuance timeline. The planned instrument follows Pakistan’s recent $3 billion dual-tranche Eurobond issuance on Thursday. The government raised $1.75 billion through a 5.5-year bond carrying a 7.5% coupon and another $1.25 billion through a 10-year bond at 7.9%. According to the Finance Ministry,

PM reaﬃrms Pakistan’s ‘strong, abiding’ support for UN, multilateralism CONTINUED FROM PAGE 01

PM says reforms restore stability, boost investor confidence after difficult turnaround

He underscored that upgrading ML-1 was essential to modernising freight logistics, strengthening regional trade connectivity and supporting major industrial initiatives. The meeting also discussed the need for early groundbreaking of ML-1, recognising its importance for infrastructure development and modernising connectivity across the country. The two sides also explored avenues for expanding cooperation in support of the private sector and small and medium-sized enterprises (SMEs), energy security, food security, export competitiveness, artificial intelligence and information technology. The meeting concluded with a mutual commitment to translate the strategic priorities outlined in the CPS 2026–2030 into concrete and highimpact outcomes aimed at driving sustainable growth and visibly improving the standard of living of the people of Pakistan.

done, we tried to tokenise some of our existing Eurobond debt,” he said. Aurangzeb also said Pakistan’s foreign exchange reserves stood at $18.4 billion as of June 30, with the government targeting $21 billion by the end of the current fiscal year. Reaching that level would provide a little over three months of import cover, which he described as a good international benchmark. On the US-Iran conflict, the finance minister said the government was closely monitoring its potential impact on Pakistan’s growth and inflation projections. “We are not giving up, because it’s absolutely critical, not only for Pakistan or the region, but for the global economy,” he said.

SECP issues show-cause notices to 28,761 companies over beneficial ownership disclosures PROFIT

STAFF REPORT

The two sides exchanged views on the evolving global landscape and the challenges confronting the multilateral system, according to a statement issued by the Foreign Office (FO). Deputy Prime Minister Dar underscored Pakistan’s longstanding commitment to multilateralism and stressed the need to strengthen the multilateral system, including through the effective implementation of understandings and decisions reached at multilateral fora. He reiterated the importance of respecting international law and implementing United Nations Security Council resolutions, particularly those relating to the disputes of Palestine and Jammu & Kashmir. The DPM/FM expressed the hope that the next UN Secretary-General would play an effective role in enhancing the UN’s capacity to address contemporary global challenges, the statement said. Ambassador Otunnu appreciated Pakistan’s longstanding contribution to international peace and security, including through its participation in UN peacekeeping operations. He also commended Pakistan’s leadership for its diplomatic efforts to promote regional peace and stability.

CONTINUED FROM PAGE 01

the transaction attracted nearly $6 billion in orders from institutional investors across global markets, almost twice the amount issued. The government has also sought to broaden retail participation in government securities. Aurangzeb said the Finance Ministry had collaborated with JazzCash, while the State Bank of Pakistan had launched an application allowing individuals to invest directly in government securities. The finance minister said the government was also examining newer financing mechanisms, including tokenisation of some of Pakistan’s existing Eurobond debt, following Hong Kong’s experience. “Following what Hong Kong has

The Securities and Exchange Commission of Pakistan (SECP) has issued show-cause notices to 28,761 companies for allegedly failing to disclose their ultimate beneficial owners (UBOs), giving them 30 days to comply before possible penal proceedings. According to a news report, the regulator said that every registered company is required to identify and report the individuals who ultimately own or control it by filing Form 19. The disclosure requirement is mandatory under Section 123A of the Companies Act, 2017, read with Regulation 48(5) of the Companies Regulations, 2024. An ultimate beneficial owner is the actual individual who ultimately owns or controls a company, either

directly or through another entity. This includes individuals holding at least 25% of a company's shares or voting rights, as well as those exercising control through other means. Pakistan had 301,615 registered companies at the end of June 2026, according to SECP data. Ultimate beneficial owners reporting is intended to allow regulators to look beyond company names and complex corporate ownership structures to determine the individuals who ultimately benefit from or exercise control over a business. The requirement is aimed at improving corporate transparency and preventing companies from being misused for money laundering, concealment of assets and illicit financial flows. The SECP may initiate penal proceedings against companies that fail to comply within the stipulated period.

‘Small’ AJK cabinet sworn in as PM Gillani inducts eight ministers ‘without portfolios’ CONTINUED FROM PAGE 01

Former minister and senior parliamentarian Noreen Arif, who holds the distinction of being the only woman to have won a territorial constituency in three direct elections — in 2006, 2016 and 2026 — besides serving four other terms on reserved seats, was not included in the cabinet. None of the nine PML-N legislators elected from refugee constituencies in Pakistan was inducted into the cabinet either. The 10th PML-N refugee lawmaker has already been elected deputy speaker of the legislative assembly. Contrary to speculation circulating on social media, much of it apparently fuelled by aspirants themselves, no adviser or special assistant was appointed to the government. The portfolios of the newly appointed ministers were also not announced immediately. Speaking briefly to journalists after taking oath, the new ministers thanked Prime Minister Gillani for reposing confidence in them and pledged to discharge their responsibilities to the best of their abilities in the service of the people. The formation of the relatively compact cabinet marks a departure from the much larger ministerial arrangements witnessed in AJK in recent years.

Under the 13th Amendment to the AJK Constitution, enacted in 2018, the then PML-N government introduced a restriction limiting the cabinet to 30 per cent of the assembly’s total strength, or 16 ministers. Two advisers and two special assistants could be appointed in addition to the ministers. The restriction, however, did not apply to the PMLN government that introduced it, as the provision was made applicable from the inception of the next assembly in 2021. The two prime ministers of the subsequent PTI governments, Sardar Abdul Qayyum Niazi and Sardar Tanveer Ilyas, had to abide by the restriction. The cap was lifted in June 2023, shortly after the installation of the Chaudhry Anwarul Haq-led coalition government, paving the way for the induction of more than 30 lawmakers from the PTI forward bloc, PPP and PML-N as ministers, advisers and special assistants. The last PPP government, however, had kept its cabinet at 20 members — 18 ministers and two advisers — under an understanding with the now-proscribed Joint Awami Action Committee. In the direct elections to 38 constituencies, the PML-N secured 25 seats while the PPP won 12. The lone MLA-elect of the Awami Dast-o-Bazu Party also joined hands with the PML-N, further strengthening the ruling party’s position in the legislative assembly.

Supreme Court rules banking court cannot award markup not claimed in plaint PROFIT

STAFF REPORT

The Supreme Court has ruled that a banking court cannot award markup to a bank if it was not claimed in the original plaint, setting aside a February 2019 Lahore High Court (LHC) judgement that allowed Citibank to recover markup through an amended decree. A three-member bench allowed an appeal by Crescent Spinning Mills, holding that the banking court had wrongly used Section 152 of the Civil Procedure Code (CPC) to add markup

that Citibank had not originally claimed. The dispute dates back to the 1990s, when Crescent Spinning Mills obtained financial facilities from Citibank and subsequently failed to repay its dues. Citibank filed a Rs76 million recovery suit in 1995, which was decreed in the bank's favour in 1999. The bank later obtained an amended decree under Section 152 CPC to include markup until recovery. The LHC subsequently rejected Crescent Spinning Mills' appeal against the amendment, prompting the company to approach the Supreme Court.

The question before the apex court was whether a banking court could add markup that had not been claimed in the original plaint by amending its decree under Section 152 CPC. Crescent Spinning Mills' counsel argued that Citibank had sought the principal amount along with liquidated damages from October 1, 1995, at 19% per annum, and that the trial court had specifically disallowed the liquidated damages claim. He argued that the suit had been filed before a banking court constituted under the Banking Tribunals Ordi-

nance, 1984. Section 6(4) of the ordinance, he said, permitted a decree in favour of a banking company only for relief sought in the plaint. Citibank's counsel maintained that the banking court had omitted to award markup under Section 15 of the 1997 Act and that the bank had therefore moved an application under Section 152 CPC to rectify the omission. He further argued that although the suit had been instituted under the 1984 Ordinance, the 1997 Act was in force when the decree was passed and therefore markup could be awarded.

tinations for the sector. The pharmaceutical industry had, however, made progress in Ethiopia during the year, while efforts were underway to expand exports and gain access to new markets, he added. The minister said Pakistan was also engaging with China from time to time regarding a review of the existing Free Trade Agreement as part of efforts to increase trade and create new commercial opportunities. Committee raises concerns over sugar trade The committee also questioned the government’s handling of sugar imports and exports. Committee member Asad Alam Niazi said sugar mills had declared a surplus last year, after which the government permitted exports. Domestic sugar prices subsequently increased and the country had to import sugar at a higher price, he said. “Now the same old stock of sugar is being exported because it could not be sold in the domestic market,” he said. Niazi alleged that sugar had initially been imported at around $40 above the prevailing international price, but buyers were unwilling to purchase the imported commodity, which was now being exported at a lower price.

Oman-based hawala network used WhatsApp, e-wallets for remittances to Pakistan: report PROFIT

STAFF REPORT

An Oman-based hawala network used WhatsApp, mobile-linked transfers and e-wallets to facilitate unlicensed cross-border remittances to Pakistan, Dawn reported, citing a new joint report by the Financial Action Task Force (FATF) and Organisation for Economic Co-operation and Development (OECD). The report cited the case while warning that underground banking and hawala networks globally are becoming increasingly professional and making greater use of virtual assets and fintech platforms to conceal illicit wealth. Based on feedback from around 45 jurisdictions and organisations, including those in Pakistan and India, the report found that more than 80% of reporting jurisdictions identified underground banking systems among the principal channels or techniques used for professional money laundering. In some cases, more than €500 million was laundered through underground banking and hawala-based schemes within just a few months. In the Pakistanrelated case, the Central Bank of Oman (CBO) received intelligence through its whistleblower channel about individuals suspected of operating an unlicensed cross-border remittance business to Pakistan. The activity came under scrutiny after a reporting entity observed a sudden decline in customer remittances through particular corridors. Further enquiries by the CBO identified a WhatsApp group called “XX Money Exchange”, operated by foreign nationals advertising foreign exchange and remittance services to expatriate communities in Oman. The hawaladars offered rates below the formal market rate with minimal or no fees. Customers transferred money either in cash or through mobile-linked transfers, while the operators used ewallets to arrange corresponding payments in the destination jurisdiction.

04 COMMENT

The people who quietly hold society together

Saturday, 5 September, 2026

Eurobond issue

Pakistan’s return reflects better ratings, but is more borrowing good for the country?

AKISTAN returned to the international debt markets with a Eurobond issue worth $3 billion. It was a dual-tranche issue, with $1.75 billion in a 5.5-year bond, and $1.25 billion in a 10year issue, with respective coupon rates of 7.50 percent and 7.90 percent. While the return to the international debt markets came after several years of relying on multilateral, bilateral and commercial financing, it reflected a renewed confidence in the country, because of its strict adherence to the IMF programme it is still undergoing. It creates a virtuous cycle, as the ability to borrow bolsters foreign exchange reserves, and that in turn means that more can be borrowed. Apart from the populist question of what relief this implies for the common man, there is the question that the more discerning citizen will ask, whether this enables Pakistan to escape the clutches of the lending agencies, whether it can get out of the debt trap this way. It is counter-intuitive to escape debt by incurring more debt. It should also be noted that Pakistan is paying a very high price, with the rates of well over 7 percent representing a very high rate. The Secured Overnight Financing Rate of the Reserve Bank of New York is a new benchmark, and is presently 3.65 percent. The returns on the Eurobond issues exceed those of junk bonds in the USA, which average 7.18 percent. To be fair, a junk bond does not only pay out a high yield, it also means the issuer is classified by credit agencies as below investment grade. Pakistan is beyond that. It is almost as if Pakistan is fattening itself up like a sacrificial animal to obtain another IMF package when the current one runs out. It should be noted that the bond issue is not even to finance government extravagance; it merely pays off previous loans, like the $1.4 billion Eurobond issue repaid in April. Only if there is a worldwide run on US securities will it make any sense for Pakistan to approach the debt markets. In that possible, though rather unlikely event, lenders will find themselves saddled with large amounts of dollars which they will be willing to place willy-nilly. Of course, at that point, will Pakistan really want to be taking those dollars? Or will the government try to chase after the new reserve currency, whatever it might be?

Arif Nizami (Late) Founding Editor

The Remedy M. A. Niazi

Babar Nizami Editor Profit

Rizwan ahmad

VERY morning, long before most cities are fully awake, millions of people are already at work. A cleaner is sweeping a street. A security guard is standing at a gate. A driver is beginning a long journey. A teacher is preparing a classroom. A shopkeeper is lifting the shutters. A nurse is completing a night shift. A mother is preparing children for school while the rest of the household is still asleep. Most of these people will never appear in a newspaper headline. Yet without them, much of ordinary life would simply stop. We tend to measure the strength of a society through its most visible achievements. We celebrate successful businesses, famous professionals, political leaders, artists, athletes and public figures. Their accomplishments deserve recognition. But beneath every successful society exists another story, one written quietly by millions of ordinary people who perform their responsibilities every day without applause. A society is not held together only by its leaders. It is held together by people who arrive on time, keep promises, care for others, do their work honestly and continue despite difficult circumstances. There is something remarkable about this ordinary discipline. A teacher enters a classroom every morning and teaches another generation. A bus driver carries hundreds of people safely through the city. A farmer works through heat and uncertainty to produce food. A mechanic repairs the machines on which others depend. A domestic worker quietly keeps a household functioning. A sanitation worker performs a task that most people notice only when it is not done. These contributions rarely become stories. Perhaps that is because we have become accustomed to them. We notice the absence of a service more quickly than the person who provides it. We complain when the street is dirty but rarely think about the person who cleans it. We become impatient when transport is delayed but seldom consider the pressures carried by the person behind the wheel. We expect teachers to educate our children but sometimes forget that teaching is not merely a profession. It is an investment in people who may shape the future. Much of what makes life bearable is provided by people whose names we do not know. There is also a lesson in the dignity with which many people perform difficult work. Not every job comes with an impressive office, a generous salary or public recognition. Yet work ac-

Dedicated to the legacy of late Hameed Nizami

Editor Pakistan Today

Without them, things fall apart

quires dignity when it is performed with responsibility. The value of a person should never be determined solely by the social status attached to a profession. A person who faithfully performs a modest task may contribute more to the daily life of a community than someone whose title sounds important but whose work is rarely useful to others. We sometimes speak of success as though it were entirely individual. The successful professional, the successful entrepreneur, the successful artist or the successful public figure is presented as a self-made achievement. But nobody is entirely self-made. Behind every achievement are people who provided support, taught lessons, opened doors, offered encouragement, made sacrifices or simply performed the ordinary tasks that allowed someone else to concentrate on a larger ambition. A doctor depends on nurses and technicians. A business depends on workers. A school depends on teachers, administrators, cleaners and support staff. A city depends on thousands of people whose names never appear on its official maps. Achievement is often visible at the top, but effort is distributed everywhere. This is why gratitude matters. Not the ceremonial kind that appears in speeches, but the quieter kind that changes how we look at people. A respectful word to a waiter. Patience with a driver. Appreciation for a teacher. Fair treatment of an employee. Respect for a cleaner. Acknowledgment of the person who delivers something to our door. These may seem like small gestures, but they reflect something much larger: the recognition that every person carries a life as complicated and valuable as our own. Modern life has made us increasingly efficient at

The people who quietly hold society together do not usually ask for monuments. They ask for fairness, respect, security and the opportunity to live with dignity. The least we can do is notice them. Because when the noise of achievement fades, when titles are forgotten and headlines disappear.

N recent times, the debate is taking place in Pakistan over the creation of new administrative units in order to make the governance system more effective, responsive, and accountable. However, this is not a new debate at all. The remedy to make governance better, does not necessarily lie in the creation of new administrative units or marking changes in the map. Rather, the governance system of Pakistan could be improved and strengthened through the effective implementation of local government bodies under Article 140-A of the Constitution and genuine devolution of power. Hence, empowering local bodies could fundamentally address Pakistan’s governance challenges. Pakistan has been suffering from a governance crisis since its formation. This crisis’ solution is not the matter of the number of provinces, but in the concentration of power and centralized decision-making. Many local issues often go unresolved due to limited devolution of power and centralized decision-making. Article 140-A deals with the implementation of local government bodies. The provision was not originally part of the Constitution rather it was incorporated in 2010 through the 18th Amendment. However, it remains one of the unimplemented portions of the 18th Amendment. Therefore, reforms to the local government are essential for addressing Pakistan’s governance challenges. Pakistan’s major governance challenges include inadequate public service delivery, lack of accountability, weak local institutions, and centralized decision-making. These issues may not necessarily be addressed through the establishment of new provinces. Instead, the devolution of administrative and political power to the grassroots and the empowerment of local authorities may offer a genuine remedy to major governance challenges in Pakistan. This is because local governments understand the local problems in a more effective manner because of proximityto the public, thereby enabling citizens to participate in decision-making making service delivery convenient. Currently, some thinkers in Pakistan argue that establishing new administrative units or new provinces can bring the government closer to the public and can serve as a key to better governance and administration. However, this could not provide a solution to the governance challenges. If new provinces are created and power remains centred in the provincial government, then how would this fix Pakistan’s governance issues? Drawing new lines on the map alone will suffer to fix broader governance challenges. Instead, the solution is to decentralize the administrative and political power, not concentration of power. Furthermore, the formation of new provinces will require finance and resources. It may also create ethnic divisions in Pakistan because there are di-

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verse ethnicities in Pakistan living in different areas based on language and race. Hence, creating new provinces would not be a viable solution. Apart from that, the constitution of Pakistan is clear with regards to the creation of new provinces. Article 239 of the Constitution deals with the alteration of provincial boundaries and mechanism of any constitutional amendment bill. It states that any alteration to the boundary of any province needs an amendment bill to be passed by a two-thirds majority by the relevant Provincial Assembly. Once the resolution for creating new provinces is approved by the relevant Provincial Assembly, the ammendment bill must be approved by both houses, the Senate and the National Assembly by a two-thirds majority of their overall memberships. Lastly, the assent of the President of Pakistan is required, through which an amendment bill is passed and the new provision becomes the part of the constitution, paving the way for the creation of new provinces in the country. Around the world, states that have good governance systems make progress rapidly as compared to those that do not have good governance. This is because governance is the key to development and state prosperity. Denmark is one of the states with a good governance structure. The factors behind Denmark’s development and good governance are the strong local government system and the genuine devolution of power. Hence, strengthening governance requires the devolution of power to local authorities. On the other hand, Nigeria is one of the countries in which the number of states or provinces was increased in an attempt to improve the governance system. However, despite increasing the number of provinces, Nigeria continued to struggle with corruption, inadequate public service delivery, and weak institutions. This was because creating new provinces alone could not bolster governance structure in Nigeria. Similarly, the Pakistani government should primarily focus on empowering local governments in all four provinces so that the local bodies can make public service delivery more accessible to the public and convenient.

Bombs first Local bodies are so paramount in a country’s progress because they are responsible for maintaining law and order, providing public services, serving local citizens, addressing grassroots issues, and giving people an opportunity to discuss their issues with local authorities. Resultantly, the establishment of a local government system curtails the distance between government officials and the public. Thus, the optimal functioning of local government bodies can improve service delivery and decision-making processes. The establishment of new administrative units may improve administration but they would not guarantee good governance, as this requires urgent devolution of power and decentralized institutions. Through the implementation of Article 140-A of the Constitution, transparency and accountability can also be ensured in the system. Elected local representatives are a more suitable option than the establishment of new administrative units as they may address societal issues more efficiently. On the other hand, the creation of new provinces demands resources and substantial expenditure which Pakistan cannot afford immediately due to its financial constraints. Resultantly, the remedy to Pakistan’s governance challenges is not necessarily rooted in the creation of new provinces or expanding the number of provinces. Instead, Pakistan needs proper implementation of the local government system in the existing provinces as powers have been devolved from the center to the provinces, but the provinces have still not devolved power to the local bodies which remains an incomplete agenda of the 18th amendment. This may meet public demands and resolve social issues appropriately. Hence, if article 140-A of the Constitution of Pakistan is enforced, Pakistan may get rid of its governance issues.

The writer can be at tahahussainseeker@gmail.com

reached

Resultantly, the remedy to Pakistan’s governance challenges is not necessarily rooted in the creation of new provinces or expanding the number of provinces. Instead, Pakistan needs proper implementation of the local government system in the existing provinces as powers have been devolved from the center to the provinces, but the provinces have still not devolved power to the local bodies which remains an incomplete agenda of the 18th amendment.

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The writer is a legal researcher on law, public policy, and politics, with a focus on governance, institutional reform, and accountability.

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

Instead of creating new provinces, why not empower local bodies? muhammad Taha hussain

using services while becoming less conscious of the people providing them. Technology has made many things convenient. A meal arrives with a few taps. A message crosses the world instantly. Goods reach our homes without requiring us to know who packed or delivered them. Convenience is useful, but it can also make human effort invisible. Perhaps we need to recover the habit of noticing. To notice the person opening the shop early in the morning. The teacher staying late to help a student. The worker standing in the heat. The parent quietly sacrificing personal comfort for a child’s future. The elderly person continuing to contribute to the family long after society assumes productivity has ended. These are not extraordinary stories in the conventional sense. They are ordinary stories. And perhaps that is precisely why they matter. Nations are often described through statistics: economic growth, literacy rates, exports, investment and productivity. These measurements are important, but they cannot fully describe the character of a society. Character can also be found in how people treat one another when nobody is watching. It can be found in the worker who refuses to abandon a responsibility. In the stranger who helps someone across a difficult moment. In the parent who continues working despite exhaustion. In the teacher who believes in a student who has stopped believing in the self. These quiet acts rarely change history overnight. They change something smaller and perhaps more important: the lives immediately around them. And those lives eventually become families, communities and generations. Every society needs visible leaders, but it also needs invisible foundations. The people who quietly perform their duties form much of that foundation. Their work may not attract attention, but it creates the stability upon which attention-grabbing achievements become possible. Perhaps the measure of a mature society is not simply how much it celebrates extraordinary success, but how much dignity it gives to ordinary work. The people who quietly hold society together do not usually ask for monuments. They ask for fairness, respect, security and the opportunity to live with dignity. The least we can do is notice them. Because when the noise of achievement fades, when titles are forgotten and headlines disappear, it is often the quiet contribution of ordinary people that remains woven into the fabric of everyday life. Society does not stand because a few people shine brightly. It stands because millions of people quietly keep showing up.

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TULSI Gabbard, who heads the United States National Intelligence, had testified to Congress earlier this year that there was no evidence that Iran was seeking to develop a nuclear bomb. It was, indeed, a bold statement. One does wonder, then, what the US attack on Iran was all about. Understandably, Gabbard is now out of favour with President Donald Trump, who recently remarked: “I don’t care what she [Gabbard] said. I think they [Iranians] were very close to having it.” The attack on Iran, initiated by Zionist Israel, was based on a lie that has been propagated by mass murderer Benjamin Netanyahu for years. Trump, who now faces opposition on foreign policy from some of his own trusted lieutenants, should ask himself a critical question. How many American soldiers have to die for the occupation that has no right to be in Palestine? Let us just put aside the fact that without American and European backing, the genocide in Gaza would not have taken place. Let us just focus on how peace-loving Americans and Europeans are treated for simply calling for an end to the atrocities. When people who love democracy voice their opposition to war, as can be seen in the accompanying image showing a recent anti-war rally in New York, and call on their governments to immediately end their support of the apartheid regime, they are gagged and punished by their own governments. Let us focus on American soldiers who deserve more and better. They deserve to be with their families rather than be in wars around the world. The money that America continues to pump into the occupation belongs to the Americans. Let them enjoy the fruits of their hard labour. It saddens me to know that many Americans do two to three jobs just to make ends meet. This is not what the American Dream was about. Interestingly, as the occupiers launched the attack on Iran, their Western backers chanted against Iran, accusing it of developing nuclear weapons. But when Iran launched its own response causing great harm to the genocidal regime, these very nations talked of diplomacy and called for ‘restraint’ simply because the Zionist regime was in trouble and needed to be protected. Is this not appalling? Not in the modern world, it seems. The occupation, regardless of who is at the helm, has to end. Germany recently announced that it would evacuate its citizens via Jordan from occupied Palestine. This is exactly what is needed to be done by France, the United Kingdom, Poland, Ukraine, Russia, Spain and Italy. The occupation has to come to an end. Palestine is for the Palestinians. Period. It is time American people exerted pressure and told their president that wars, be they overt, covert or proxy, would harm the American people who need to see their tax money being spent on education, health and welfare; not warfare. Americans have already squandered trillions of dollars by invading Afghanistan, Iraq and attacking several other Muslim countries. They cannot afford more wars. ANGABEEN AHMAD KARACHI

Feasts and famine

DURING his recent tour to Saudi Arabia, the United Arab Emirates (UAE) and Qatar, United States President Donald Trump was accorded receptions and given gifts that were outlandish even by the standards of oil-rich Gulf states. Everything during the entire tour was marked by pomp and glitter. Yet, these countries, and, indeed, others in the Islamic world, have not been able to feed their brethren undergoing un-precedented sufferings in Gaza for the last more than 20 months. This is as embarrassing as it is criminal. During the trip, even Trump was quoted in international media as having noted that the people in Gaza were starving amid critically serious shortage of food and healthcare supplies. But the gracious — unnecessarily gracious — hosts could not take up the matter with their mighty guest. MANSOOR UL HAQUE SOLANGI KARACHI

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COMMENT 05

AI is making more, but not always better, work

Saturday, 5 September, 2026

The creative industry does not need another machine that makes things, nut a better way to decide what should be made SyeD SHuJa HuSSain

Every creative director knows the moment. The deck looks finished. The images are beautiful. There are enough headlines to cover three walls. Then someone in the room asks the simplest question: What are we actually saying? That question has become more important since Artificial Intelligence entered the creative process. We can now make more, faster and with less friction. But the industry never really suffered from a lack of things. It suffered from a lack of sharp decisions. I have spent more than two decades inside agencies, brand teams and government organizations in Dubai. I have seen plenty of new tools arrive with the promise of changing everything. Most of them changed the way we executed. AI is different. It has walked into the part of the room where the thinking happens. That should excite us. It should also make us a little more demanding.

WE HAVE MISTAKEN SPEED FOR PROGRESS Most creative teams are already using AI. Some talk about it. Some keep the browser tab minimized when the creative director walks past. Either way, it is here. It gets a team moving. It kills the blank page. It gives you 20 ways into a problem before lunch. And then it gives you another 20. This is the strange part. The faster the output arrives, the easier it is to confuse movement with progress. A polished image begins to feel like an idea. A well-written paragraph begins to sound like a strategy. A complete deck creates the comfort of an answer, even when nobody has made the hard choice underneath it. AI is not doing bad work. It is making average work look finished too early. The answer is not to slow the technology

down. The answer is to become clearer about what we want it to do. Generation is useful. Direction is valuable. They are not the same job.

THE BRIEF IS STILL THE BRIEF A brief rarely arrives ready to be answered. It may be technically correct and still have no pulse. The audience may be reduced to an age bracket. The business may be asking for a campaign when what it really needs is a position. A client may say they want attention when the deeper opportunity is relevance. This is where a creative person earns his or her seat in the room. We read what is written, but we also read what is missing. We listen to the hesitation after a comment. We know when a line is culturally right but emotionally dead. We know when an idea is uncomfortable because it is wrong and when it is uncomfortable because it is true. AI can organize evidence. It can find patterns, compare language and open doors quickly. What it cannot do is take responsibility for walking through one of them. Human judgment cannot be the approval button at the end. It has to be present at the beginning, shaping the question before the machine starts shaping the answer.

MORE TABS. LESS MEMORY. There is another issue we do not talk about enough. Creative teams forget. A team can spend months learning a brand. They understand the history, the politics, the audience, the visual codes and the reasons three earlier routes died in the room. Then the project ends. People move. The folders get buried. Six months later, another team begins from page one. AI has not fixed that yet. In many cases, it has added to the mess. Strategy sits in a presentation. Prompts sit in one chat. References sit in another tab. Feedback is split between email, messages and somebody’s notes from a meeting. We keep calling the work integrated while the process behind it is scattered everywhere.

A useful creative system should remember more than the final files. It should remember why a decision was made. It should keep the brand logic alive and let every new piece of work begin with more intelligence than the last one.

LET AI DO THE LIFTING The relationship can be simple. Let AI carry the weight of repetition, organization and rapid exploration. Let people carry the responsibility for meaning. Use the machine to open routes, connect information and pressure-test consistency. Then stop. Creative confidence is not showing 50 options because you can. It is knowing which three deserve the room and which one is worth fighting for. For leaders, this is bigger than buying software licences. Giving everyone the same tool does not give everyone the same standard. Teams still need a shared way to judge context, originality, cultural sensitivity and

AI has not fixed that yet. In many cases, it has added to the mess. Strategy sits in a presentation. Prompts sit in one chat. References sit in another tab. Feedback is split between email, messages and somebody’s notes from a meeting. We keep calling the work integrated while the process behind it is scattered everywhere. A useful creative system should remember more than the final files. It should remember why a decision was made. It should keep the brand logic alive and let every new piece of work.

Military strikes on China’s data centers? Analysts inside the US have already warned that attacking Chinese data centers would be a wager on a shooting war between two nuclear-armed states. China will not let this fantasy succeed

GLOBAL TIMES

HE Center for a New American Security (CNAS) has just released a highly inflammatory report that openly discusses “extreme measures,” including military strikes on Chinese data centers, to stop China from being first to achieve artificial general intelligence (AGI). It even floats the idea of a “preemptive strike.” Talk of using armed force against civilian infrastructure is indistinguishable from terrorism. That such rhetoric can circulate so openly in Washington is startling. More worrying is how close this report sits to official Washington. CNAS was founded in 2007 by figures including Kurt Campbell, later the White House coordinator for Indo-Pacific affairs, and has long advised the US government on defense, the “Indo-Pacific Strategy,” and China policy. The report’s lead author, Jacob Stokes, deputy director of CNAS’s Indo-Pacific Security Program and a former White House official, has drawn media attention for that résumé. Speaking on the report on Thursday local time, he said the task was to “work backwards from the science to the policy implications” - a frank admission that “policy impact” was the point from the start. It is not unthinkable that some of these extreme ideas could later pass through the revolving door into official policy. China and the US are nuclear powers.

What it means to advocate “military strikes on Chinese data centers” needs no elaboration. Stokes himself conceded that such options could create severe geopolitical tensions and raises the danger of military escalation. Analysts inside the US have already warned that attacking Chinese data centers would be a wager on a shooting war between two nuclear-armed states. China will not let this fantasy succeed. The report is evidence of something larger: technology containment of China has slipped from a contest over rules into fantasies of force. It is an attempt to keep political space open for the most dangerous option - an extreme distortion of US’ techhegemony mindset, and a preview of how terrifying US tech pressure on China could become if it pushes to the limit. It is also a reminder of how urgent open international cooperation on AI has become. Once any country’s supercomputers, chip plants, power grids, or communications hubs can be labeled a “strategic threat,” the global digital order will face collapse. Washington itself should be wary of the people and think tanks whose minds have been warped by Cold War fantasy those who wrap delirium in the language of research and peddle it around the policy community. We note that mainstream US media have largely looked the other way. That silence amounts to indulging and feeding war fever. They pounce whenever China is said to have used “harsh language.” Why, then, do the most extreme voices at home become a blind spot?

TRUMP PRESIDENCY TO GET WEEKLY RECAPS

SATIRE

‘F

NEWS BISCUIT Sully

OLLOWERS of American politics have complained that they can’t follow the plot’, a White House spokesman told us. ‘If this was a Netflix drama there would be one major incident per week and they’d still offer a recap. President Trump’s achievements are so many and so wondrous that the American people can’t keep track’. Trump’s achievements since January include stealing 65 billion barrels of

Venezuelan oil, losing a war with Iran, turning the Reflecting Pool into an algae conservation area, having ICE murder a couple of US citizens, cheating at golf (multiple times), shitting his pants (multiple times), falling asleep on camera (multiple times) and threatening to invade – well, everybody. The only topic which won’t be included in the recap is the Epstein Files. ‘Look, President Trump has already released 5% of the Epstein Files’, the spokesman said. ‘What more do you people want? Jeez, if an old man can’t have a little fun once in a while – what’s the world coming to?’

AMERICAN PROSPECT DaviD Dayen

OOGLE has been found liable for monopolization by federal judges twice now. Both times, however, the judges have allowed the company’s monopoly to remain intact. The rather dire message this sends to would-be monopolists is that their business model will be protected even if they are found to have broken the law. It’s an ominous development as the tech industry seeks to shift its dominance into artificial intelligence, even as enforcers find more ways that platforms are abusing their power. We don’t yet know everything about the latest ruling because it will be under seal for a couple of weeks. But we know the important thing: Google will be allowed to continue to run all sides of the advertising technology stack, including the “sell side” where advertisers make bids, the “buy side” where publishers offer inventory on their websites, and the “ad exchange” where both sides come together in real-time auctions. For years, this integration enabled Google to extract billions of dollars from publishers and advertisers in a market it controlled. It was found guilty of this, yet will not have to give up any of those pieces. Yesterday, Judge Leonie Brinkema rejected the divestiture of AdX, the ad exchange part of the architecture, as well as the Justice Department’s proposal that source code for the publisher tools be made public, with the option of breaking that piece of Google’s business off if competition didn’t improve. The judge did accept a series of “behavioral remedies,” which we don’t have the details for yet. But Google is already declaring victory. “We’re very pleased the court rejected the DOJ’s proposal to break apart tools that help small businesses reach new customers and grow,” Lee-Anne Mulholland, a Google vice president of regulatory affairs, said in a statement. The cleanest and easiest way to stop a monopolist is to break up their monopoly. But the courts have simply disregarded such a breakup as an option. Just last year, Judge Brinkema said that Google blocked publishers from using alternative ad server tools if they wanted to access Google’s dominant ad exchanges, leading to a “substantial anticompetitive effect.” The cleanest and easiest way to stop a monopolist is to break up their monopoly. But the courts have simply disregarded such a breakup as an option, with the implication that antitrust law isn’t an available remedy

Creative people should remain the authors of meaning. Technology should help them see more, connect faster and waste less energy getting to the work that matters. The future will not belong to the team that generates the most. It will belong to the team that knows what deserves to exist. brand consistency. Without that discipline, AI simply gives us more material to manage. This matters in the USA, especially for independent studios, mid-sized agencies and in-house teams being asked to deliver network-level thinking without network-level resources. The opportunity is not only faster production. It is stronger strategic structure, clearer decisions and responsible AI that keeps people accountable for the work.

THE NEXT TOOL SHOULD HELP US DECIDE The first chapter of generative AI was obsessed with prompts. The next chapter will be about systems. Not rigid systems that turn creative people into operators. Systems that help good thinking travel from a business reality to a human tension, from that tension to an idea, and from the idea into the world without losing its meaning. That question is also shaping a system I am currently developing called VEXA. The

work is still in development, and I am less interested in presenting it as a finished product than in testing a principle: can AI help a creative team hold on to context, make sharper decisions and move faster without flattening the thinking? The name of the tool matters less than the standard behind it. Taste is still human. So is courage. Any system entering a creative room should protect both. For me, the answer is clear. Creative people should remain the authors of meaning. Technology should help them see more, connect faster and waste less energy getting to the work that matters. The future will not belong to the team that generates the most. It will belong to the team that knows what deserves to exist.

Syed Shuja Hussain is a Creative Director and art director with more than 20 years of experience across international agency networks, major brands and government organizations in the UAE.

Why is Google monopoly allowed to stand? The cleanest and easiest way to stop a monopolist is to break up their monopoly. But the courts have simply disregarded such a breakup as an option

for the concentration of corporate power in its current configuration. Judge Brinkema’s ruling mirrors the remedy ordered by Judge Amit Mehta in a different monopolization case about Google Search. In that case, too, Judge Mehta found Google to be monopolizing search by making deals for billions of dollars to buy placement on Apple products, but then allowed those deals to continue. Judge Brinkema’s behavioral remedies may end up having a little more teeth than Judge Mehta’s; that remains to be seen. But fundamentally, both judges looked a monopoly in the face and said that the best course of action was to keep everything the same. “The U.S. judiciary is abdicating its congressionally mandated duty to apply the text and spirit of the nation’s antitrust laws,” said Barry Lynn of the Open Markets Institute in a statement. “Google will remain largely free to pose an increasingly absolute threat to the core foundations of democracy—freedom of speech, freedom of thought and spirit, and freedom of the press.” Both Google cases were put together by President Biden’s Antitrust Division chief, Jonathan Kanter, who hailed both as victories for the free and open internet. But without any courage by judges to follow their rulings to their logical conclusion, these victories are just hollow, just pieces of paper acknowledging a winning argument without doing much about it. It’s especially galling to see the Google adtech ruling come up short this week. Because on Monday, the Federal Trade Commission and 20 states filed a complaint showing precisely what a company in control of the real-time auctions that determine the ads you see on the internet can do with that power. The lawsuit didn’t involve Google but Amazon, an up-and-comer in the adtech business. Amazon controls the ads on its own platform, and advertisers (including the third-party sellers who operate on the platform and are forced to advertise to get any customer traffic to their products) engage in auctions for those spots. The way it’s supposed to work is that competitive bidding leads the auction winner to pay one cent above the second-highest price offered for the ad. But Amazon initiated a secret system to inflate those prices and charge advertisers an estimated $20 billion more than that competitive-bidding model since 2019. That’s profit due completely to Amazon’s monopolistic control. The company promised a certain price point, then just changed it while deliberately hiding this fact from its customers. If there were a compet-

itive adtech market for Amazon and other websites, and if Amazon wasn’t able to be both the seller of ad space on its site and the auctioneer, this never could have happened. But considering that we just got done confirming that Google was an extractive adtech monopolist but that the company would not need to be broken up as a result, I don’t see any way that the Amazon case will end favorably. Amazon paid $2.5 billion earlier this year to settle allegations that it made it impossible to cancel Prime subscriptions while duping people into signing up for them. But money is a renewable resource for Amazon. Even if it has to pay back some advertisers for ripping them off, as long as it controls the machinery, it can tweak it to avail itself of more revenue, and maybe pay some of it back if it gets caught down the road. Amazon is also in the middle of a monopolization trial over raising prices across the internet. But judges have now made it perfectly clear that such proceedings are mostly for show. We have a serious problem in this country. Earnings per share for the biggest companies in the S&P 500 went up 53 percent in the second quarter of the year compared to the same time period in 2025. Hundreds of companies pocketed tariff refunds and never altered their own prices, one of the biggest windfalls in corporate history. They are salivating at the prospect of artificial intelligence allowing them to gouge customers some more: Delta CEO Ed Bastian recently said that AI would improve profitability by up to 50 percent. In short, giant corporations are eating America, and nobody wants to apply the law to keep them from the table. The judiciary has been sufficiently neutered, the president is completely in the tank, give or take an angry Truth Social post, and Congress is a largely inert entity that can be managed with skillful application of campaign contributions. California just passed the biggest update to its antitrust laws in decades, but after massive Chamber of Commerce lobbying, removed the private right of action that allows private litigants to sue under the law, making it one of only two states (the other is Arkansas) to limit citizens in this manner. It’s a bad situation. If anything positive is to be gained from this, it’s that the next set of progressive policy leaders bear the battle scars of every weak-kneed jurist and useless decision, and won’t forget. David Dayen is the executive editor of The American Prospect.

06 NEWS

SOUTH KOREA REVIEWING MILITARY OPTIONS FOR HORMUZ, NO DECISION MADE, OFFICIAL SAYS

SEOUL

AGENICES

OUTH Korea is reviewing options, including military measures, to support freedom of navigation in the Strait of Hormuz, the presidential office said on Friday, while denying media reports that the government had already decided on a deployment. Several South Korean media outlets, including JTBC and MBC, reported late on Thursday that Seoul was preparing to deploy military assets before the end of the year and could seek parliamentary approval this month. The reports said options under consideration included a maritime patrol aircraft, a logistics support vessel or a mine detection and clearance unit. Seoul had also been discussing the scale and nature of a potential contribution with countries including the United States, Britain and France, they said. A presidential official told reporters that South Korea had been discussing practical ways to contribute to freedom of navigation in the strait and confirmed that military

Saturday, 5 September 2026 | LAHORE

measures were among the options under review. "Nothing has been decided," the official said, adding that Seoul would also have to consider domestic legal procedures, military readiness on the Korean Peninsula and parliamentary approval. The official also said claims that South Korea had provided no assistance related to the Strait of Hormuz were "not true," saying Seoul had long discussed practical contributions with the international community. South Korean President Lee Jae Myung may discuss options on the Strait of Hormuz when he meets French President Emmanuel Macron next week, the official said. US President Donald Trump said in an August social media post that he had scaled back US-South Korea joint military exercises in part because South Korea had declined to help the US in the war against Iran. MANAGING ALLIANCE RISKS Ban Kil-joo, a professor of international security studies at the Korea National Diplomatic Academy, said a deployment would send an important signal to Washington that Seoul remains willing to shoulder alliance responsibilities despite recent friction over

Xi sends congratulatory message to 8th China-Russia Energy Business Forum BEIJING

AGENICES

Chinese President Xi Jinping on Friday sent a congratulatory message to the 8th China-Russia Energy Business Forum held in Vladivostok, Russia. In the message, Xi noted that this year marks the 30th anniversary of the establishment of the China-Russia strategic partnership of coordination and the 25th anniversary of the signing of the China-Russia Treaty of Good-Neighborliness and Friendly Cooperation. Amid a complex and evolving international situation, he said, the China-Russia comprehensive strategic partnership of coordination for a new era has maintained high-level development, and bilateral energy cooperation has yielded fruitful results, strongly promoting the two countries' common development and becoming an example of mutually beneficial cooperation. Stressing that the global energy landscape is undergoing profound adjustments, with opportunities and challenges intertwined, Xi said China stands ready to work with Russia to continuously deepen energy cooperation and jointly safeguard the stability and smooth operation of energy industrial and supply chains. On Friday, Russian President Vladimir Putin also sent a congratulatory

trade and other issues. "A deployment would help South Korea manage alliance risks and reinforce its credentials as a model US ally at a time when Washington is asking partners to do more," Ban said. Ban said the reported options pointed to a "medium-intensity" contribution

that would demonstrate Seoul's support for international efforts in the Strait of Hormuz without amounting to participation in combat operations against Iran. Retired Lieutenant General Chun Inbum, a former South Korean special forces commander, said a deployment would be in

line with South Korea's national interests. "It is important to contribute to ensuring the Strait of Hormuz remains open because South Korea has significant economic interests tied to the waterway," Chun told Reuters. He said South Korea's "asymmetric" relationship with the US made a proactive response preferable. Under South Korean law, overseas military deployments require approval by the National Assembly. Public support may be limited. In March, a Gallup Korea poll found 55% opposed sending South Korean warships to the Strait of Hormuz, while 30% supported such a move. If approved, the mission could mark South Korea's first maritime deployment outside the Korean Peninsula since the Cheonghae anti-piracy unit was dispatched to the Gulf of Aden in March 2009, according to Defence Ministry records. The unit remains deployed off Somalia as part of international maritime security efforts and to protect commercial shipping. South Korea relied on the Strait of Hormuz for 61% of its crude oil imports and 54% of its naphtha imports last year.

Defenders of the Waves of the Motherland SANOBAR NADIR

There is a different kind of silence at sea. From the shore, the Arabian Sea may appear endless and peaceful, stretching quietly beneath the morning sun. But for the men and women entrusted with guarding Pakistan's maritime frontiers, that same sea represents a responsibility that never sleeps. Somewhere beyond the horizon are the routes through which the country's trade moves, the waters that connect Pakistan to the world, and the approaches from which an enemy could attempt to threaten the nation. This is where the Pakistan Navy stands. When the war began in September 1965, the Indian Navy possessed a considerably larger fleet. Pakistan's naval force was smaller, but its sailors were not prepared to allow that numerical difference to determine the outcome. Their responsibility was clear: protect the coast, safeguard the homeland and prevent the enemy from gaining an advantage at sea. The Pakistan Army held firm against the aggression on land, and the Pakistan Air Force ruled the skies with a skill that has since become the stuff of military legend. But the story of September 1965 wouldn’t be complete without acknowledging the role of the men in white who guarded the nation's waters. Pakistan Navy, known as a four-dimensional force, proved its mettle and lived up to its identity as it brought its wrath upon the enemy from all four directions. It is often said that the war was decided on 6th September, but the truth is that the fighting did not end with that date. The seas remained an active front, and it was the Pakistan Navy that closed the door on any hope the enemy had of striking Pakistan from the water. Despite being outnumbered by a considerably larger Indian Navy, Pakistan's naval fleet met every challenge with courage and skill, successfully thwarting the enemy's aggressive designs and proving that victory is never simply a matter of numbers. And then came the night of 7th September. As the war continued on land and in the air, a fleet of Pakistan Navy warships

moved toward the Indian coastal town of Dwarka. In the early hours of 8th September, Pakistani warships carried out Operation Somnath, striking shore installations at Dwarka. The operation demonstrated that Pakistan's smaller naval force was not prepared to remain confined to defensive waters. It could take the fight to the enemy's coast when the moment demanded it. For Pakistan Navy, Operation Somnath became more than a wartime engagement. It became a symbol of professional courage, planning and confidence under pressure. The operation remains one of the proud chapters of the Navy's history and is remembered every year on Navy Day as a reminder of what a determined force can achieve despite numerical disadvantage. While Pakistan Navy was standing between the enemy and the homeland, central to this defence was the Pakistan Navy's submarine, PNS Ghazi. PNS Ghazi's patrol imposed a powerful deterrent on the opposing fleet. Its presence in the Arabian Sea kept the Indian Navy cautious and helped Pakistan maintain the initiative along its maritime frontier despite possessing a much smaller fleet. For the sailors aboard Ghazi, the mission was not simply about patrolling the waters. It was about making the enemy understand that any attempt to challenge Pakistan at sea would be met with a response. The legacy of 1965 did not end there. When war returned in 1971, the Pakistan Navy once again paid a heavy price for the defence of the nation. PNS Ghazi, the very submarine that had humbled the Indian fleet six years earlier, was lost near Visakhapatnam while on a mission in enemy waters, and her crew were counted among the shuhada of that war. Yet even in the darkest days of 1971, the Navy's fighting spirit did not waver. PNS Hangor achieved what no submarine in the region had done since the Second World War, sinking the Indian frigate INS Khukri on the night of 9th December 1971, a moment that remains one of the most proudest chapters in the Pakistan Navy's history. These sacrifices, spread across two wars, form the backbone of the tribute the nation pays every 6th September. The lions of the Pakistan Navy gave their lives and fought against impossible odds so that the coastline of Pakistan would remain safe and secure. Their courage did not fade with the passing decades. Their valor… their courage found a modern echo in Marka-e-Haq, when tensions with India escalated once again in 2025. As the enemy poured resources into expanding its naval power, adding large warships, advanced submarines, long-range surveillance aircraft, and armed drones to its arsenal, the Pakistan Navy answered with the same resolve its forebears had shown in 1965. Beyond its role in conflict, the Pakistan Navy's de-

fence of the nation extends into peacetime as well, particularly along the coastline, where the threats are quieter but no less serious. The Navy has taken on a central role in coastal security, conducting anti-narcotics operations to choke off the maritime routes used to smuggle drugs into and out of the region, and anti-human trafficking operations to intercept vessels attempting to exploit Pakistan's waters for the illegal movement of people. These missions rarely make headlines, but they reflect the same vigilance that defined Operation Dwarka and Marka-eHaq. Every officer who joins the Pakistan Navy today inherits the legacy of PNS Ghazi, PNS Hangor, and the squadron that struck Dwarka, a legacy built on the understanding that the sea, like the land and the sky, must never be left undefended. The shuhada of 1965 did not fight so that their names would be remembered once a year; they fought so that Pakistan's sovereignty at sea would never again be tested and found wanting. They might not share the same blood, but in their blood runs the same conviction, passion and courage to defend Pakistan against every enemy. "Hasbuna Allahu wa Ni'mal Wakeel" remains at the core of every generation of the men in white who stand watch over Pakistan's seas. As the nation marks another Defence Day, the Pakistan Navy's role serves as a reminder that the war for Pakistan's dignity was fought as much in the depths of the Arabian Sea as it was on the plains of Sialkot or in the skies over Sargodha. From the shores of Dwarka to the alertness of Marka-e-Haq, from the sacrifice of PNS Ghazi to the daily patrols against narcotics and human trafficking, the Pakistan Navy has carried forward the same vow made by its shuhada and ghazis: that Pakistan's honor and its waters will never be compromised.

Saturday, 5 September 2026 | LAHORE

CORPORATE CORNER

MG Pakistan Hosts ‘Experience More Karachi’, Introduces All New MG HS Petrol and Showcases Latest Line-Up

KARACHI STAFF REPORT

MG Motor Pakistan hosted “Experience More Karachi”, an exclusive brand experience bringing together customers, partners, media representatives and automotive enthusiasts to experience MG’s latest products, technology and vision for modern mobility. The event marked another milestone in MG’s journey in Pakistan, with Karachi providing the stage for the introduction of the All New MG HS Petrol, alongside a showcase of MG’s expanding portfolio and global product direction. The showcase featured the All New MG HS range, including the HS Hybrid+, HS Super Hybrid and newly introduced HS Petrol, alongside the All New MG ZS range, MG4 Urban EV and MG U9. The lineup highlighted MG’s growing presence across SUVs, electrified mobility and urban transportation, offering customers greater choice across powertrains and mobility needs. Adding to the experience was the IM5, showcased in Pakistan for the first time. The globally positioned model offered guests a glimpse into MG’s evolving design language, advanced technology and future mobility vision. While not yet introduced to the Pakistani market, its presence reflected the breadth of MG’s global portfolio and the possibilities ahead for the brand.

Yango Ride Reports Global Safety Progress, Including 31% Decline in Post-Trip Contacts in Pakistan

KARACHI

NEWS 07 CM MARYAM ANNOUNCES 7 MORE ELECTRIC BUSES FOR SARGODHA, ORDERS PROJECT OVERSIGHT PUNJAB CM DIRECTS LAWMAKERS TO CLOSELY MONITOR MODEL VILLAGE, SUTHRA PUNJAB AND CLEAN DRINKING WATER PROJECTS

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LAHORE

SALEEM JADOON

UNJAB Chief Minister Maryam Nawaz on Friday announced the provision of seven more electric buses for Sargodha and directed lawmakers to closely monitor the Model Village, Suthra Punjab Programme and clean drinking water projects to ensure their effective implementation. The chief minister was talking to MPAs from Sargodha who called on her at the Chief Minister’s House, according to a statement issued by the Chief Minister’s Office (CMO). The lawmakers included Provincial Minister Sohaib Ahmad Malik, Mansoor Azam, Mian Sultan Ranjha, Ikram-ulHaq, Safdar Hussain Sahi, Rana Munawar Hussain, Taimur Ali Khan and Sardar Asim Sher Maken. During the meeting, the MPAs paid tribute to Chief Minister Maryam Nawaz for the establishment and record-time completion of the Nawaz Sharif Institute of Cardiology in Sargodha. They also expressed gratitude to her for launching the electric bus service in the city.

The meeting reviewed proposals and recommendations aimed at accelerating the pace of ongoing development projects, while the lawmakers briefed the chief minister on the positive public feedback regarding various development initiatives. The lawmakers said thousands of people were benefiting daily from the electric bus service in Bhalwal, Bhera, Sillanwali, University, DHQ, Shahinabad, Kot Momin and Tehsil Sahiwal. They described the establishment of the Nawaz Sharif Institute of Cardiology

‘No money for salaries, but chartered plane for street movement’: Azma LAHORE

STAFF REPORT

Punjab Minister for Information and Culture Azma Bokhari has said that the Chief Minister of Khyber Pakhtunkhwa is running a “street movement” on a charter plane, asking where the YouTubers who used to cry foul over aircraft have disappeared. She questioned how much the charter plane would cost the people of Khyber Pakhtunkhwa. “The province does not have money to pay salaries or purchase wheat, yet its Chief Minister is travelling on a charter plane. Will the middle-class Chief Minister bear the cost of the charter plane himself?” she asked. Azma Bokhari said YouTubers

were also accompanying the middle-class Chief Minister on the charter plane, adding that those who had objected to Punjab’s aircraft were now seeing their own Chief Minister travelling on charter planes. She said those who commit crimes themselves blame others for

Pak EXIM, ICIEC Partnership Opens New Avenues for Pakistani Exporters

Expat Pakistanis offer investment, collaboration opportunities to IT firms in KSA

KARACHI/RIYADH STAFF REPORT

Majlis-e-Pakistan, a Pakistani technology professionals’ community based in Saudi Arabia, hosted a networking event, “Pakistan Tech Meetup”, in Riyadh to support Pakistani IT companies and startups seeking to establish and expand their businesses in the Kingdom.The event brought together Pakistani technology professionals, investors, entrepreneurs and startup founders based in Saudi Arabia, who offered partnership, collaboration and investment opportunities to Pakistani IT companies and startups participating in the fifth edition of LEAP 2026.Patron-in-Chief of Majlis-e-Pakistan Saqib Zubair said the Pakistani technology and business community in Saudi Arabia was committed to providing strategic support to Pakistani IT companies and startups in establishing operations, accessing financing and raising funds, with the shared objective of contributing to Pakistan’s economic growth.

them, adding that their leader also spent his entire life chanting “thief, thief,” but ultimately turned out to be the biggest thief himself. “Unfortunately, what title should be given to them?” she asked. Azma Bokhari said the KP government should release the list of passengers who travelled on the charter plane, details of the payment made for it and the tracking data. She said the flight number and boarding card being shown belonged to a flight operating from Islamabad to Bahawalpur, whereas the flight on which they travelled went to Rahim Yar Khan, which meant that it was a charter flight. Azma Bokhari said, “No More Verbal Claims— “Raseedan Kaddo Raseedan.”

IPAK unveils next-gen packaging films at 3P Pakistan, eyes higher-value exports KARACHI

STAFF REPORT

Yango Ride has released its 2024–2025 Safety Report, highlighting continued progress in using technology, verification systems and human-led support to strengthen safety across its markets. In Pakistan, the report reveals a 31% decline in posttrip contacts, reflecting the impact of privacy-focused communication tools designed to help passengers and partner drivers communicate without exposing their personal phone numbers. The report outlines Yango Ride’s approach to safety across every stage of the journey, from preride verification to protected communication, route monitoring, and post-ride accountability. Globally, reported grave traffic violations declined by 31%, from 9.83 incidents per million trips in 2024 to 6.76 in 2025.

in Sargodha as an unforgettable initiative and said welfare projects launched by Chief Minister Maryam Nawaz were being appreciated not only across Pakistan but also abroad. CM Maryam Nawaz said she was immensely satisfied to see people, particularly women and children, travelling comfortably on electric buses. She said every city, including Sargodha, had been put on the path of development and all available resources were being utilised to facilitate the public.

KARACHI STAFF REPORT

The Export-Import Bank of Pakistan (Pak EXIM) and the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a reinsurance agreement in Karachi to enhance export credit insurance coverage for Pakistani exporters and strengthen their protection against payment risks.The agreement was signed during the “Partnerships That Power Progress” event held in Karachi, bringing together senior representatives of Pak EXIM, ICIEC, Habib Bank Limited (HBL), the Export Development Fund (EDF), State Bank of Pakistan and the banking and business community.Speaking on the occasion, President & CEO Pak EXIM Bank Shahbaz H. Syed said Pak EXIM, with the support of the Government of Pakistan, was committed to supporting and promoting small and medium enterprises (SMEs). “By bringing reinsurance support through ICIEC, we are taking an important step towards supporting SMEs, helping them overcome business challenges and providing financial security as they venture into international markets,” he added.

International Packaging Films Limited (IPAK) has unveiled a new generation of advanced flexible packaging films at 3P Plas Print Pack Pakistan 2026, highlighting its growing focus on valueadded, sustainable and export-oriented packaging solutions.The company showcased its latest portfolio at Expo Centre Lahore, where the exhibition is being held from September 3 to 5, 2026. The new range includes coated films, AlOx transparent barrier films, ultra-high-barrier metallized films, low-temperature sealing, aroma barrier, high heat resistance and Retortable Films, next-generation BOPE, functional-oriented films and circular packaging solutions Mono-PE, Mono-PP, Mono-PET and PCR films).Designed for food, FMCG and other consumer-facing industries, the products focus on improved barrier performance, shelf life, recyclability and material efficiency.The launch marks a further move by IPAK into specialised and higher-value packaging applications, creating opportunities to serve both domestic manufacturers and international customers with more technically advanced products.The development also carries wider significance for Pakistan’s export sector. Highervalue barrier coated and functional films can help local manufacturers move beyond conventional commodity products, support export diversification and generate additional foreign exchange.Greater domestic availability of specialised films could also contribute to import substitution by reducing reliance on selected packaging materials currently sourced from overseas.

Federal Universities' Vice Chancellors Meet at Bahria University to Strengthen Academic Collaboration

ISLAMABAD: Bahria University hosted the 4th monthly meeting of Vice Chancellors / Rectors at its Head Office in Islamabad. The delegation was received by Rector Bahria University, Vice Admiral Engr. Abid Hameed HI(M). During the visit, the delegation was briefed on Bahria University's academic ecosystem, spanning its multiple campuses and disciplines, along with the university's recent institutional initiatives in research, digital infrastructure, and student development.The participants also visited Bahria University's Centre of Excellence in Artificial Intelligence, where they were briefed on the centre's research direction, its ongoing projects, and the role it plays in positioning the university at the forefront of AI-driven teaching, research, and industry collaboration.The visit concluded with closing remarks from Rector Bahria University, who spoke on the evolving role of universities in addressing national challenges through knowledge, innovation, and responsible leadership. He emphasized that institutions of higher learning must not only provide quality education but also contribute meaningfully to society, while instilling in students a strong sense of responsibility towards society and the nation. Touching on the broader purpose of such gatherings, he noted that universities stand to gain from engaging with one another directly, sharing what has worked on their own campuses so that good practice travels faster across the sector.. STAFF REPORT

“Equitable and indiscriminate development in every part of Punjab is Nawaz Sharif’s vision,” she added. Punjab emerging as global model in wildlife conservation: CM Meanwhile, Punjab Chief Minister Maryam Nawaz said Punjab was emerging as a model not only for Pakistan but for the entire world in wildlife conservation and promotion. In a message on the occasion of Wildlife Day, the chief minister said Punjab had the distinction of rescuing 50,000 birds, 1,020 wild animals and 30 bears. She said 14,700 challans had been issued and 1,050 FIRs registered for wildlife protection. The chief minister said 104 areas had been declared Wildlife Protected Areas and three Wildlife Rehabilitation Centres established across Punjab. She said that, for the first time, an AIbased survey through thermal drones had been launched to identify a safe habitat for the Punjnad dolphin. Jam Pur, from Beat Lundi Patafi to Guddu Barrage, had been declared a safe habitat for the Punjnad Indus Dolphin, she said, adding that measures were being taken to prevent harmful activities in the area. For the first time in Punjab, a regular Wildlife Rangers force had been established, with 544 personnel having completed their training, she added. Formal patrolling and wildlife crime operations had also been launched.

Women’s inclusion not only a social, but economic imperative: CEO JazzWorld

KARACHI STAFF REPORT

JazzWorld, Pakistan’s leading digital platform company, has earned the highest recognition at the 5th PBC-IFC “Employer of Choice” Gender Diversity Awards, marking the third time the company has achieved the program’s top ranking and reflecting a sustained effort to expand opportunities for women to build careers, progress into leadership and play a greater role in shaping the organization.For JazzWorld, the focus on gender diversity extends beyond increasing representation. It is centered on enabling women to participate and progress across the organization — from creating opportunities to enter traditionally underrepresented functions to supporting career development, greater responsibility and pathways into leadership. The underlying ambition is to build an environment where women are not only present in the workforce, but are able to influence decisions, lead teams and build long-term careers.That approach has translated into consistent recognition through the PBC-IFC program. JazzWorld earned the highest ranking in the second and third editions of the awards, was among the three leading companies in the fourth, and has now returned to the highest position in the fifth cycle.

PEC Launches Skill Development Training for 1,400 Graduate Engineers Across Pakistan

ISLAMABAD STAFF REPORT

The Pakistan Engineering Council (PEC) has commenced a one-month Skill Development Training for the second cohort (Phase-II: Graduates of 2025) under its Graduate Engineer Trainee (GET) Placement Program, a structured house job programme for young engineers. The initiative covers 1,400 trainee engineers, with the first 700 undergoing training from September 1 to 30, 2026, while the remaining 700 will receive training from October 1 to 31, 2026.PEC is implementing the GET Placement Program in collaboration with more than 60 industrial partners across the country, providing graduate engineers with structured field exposure and professional development opportunities. Under the programme, trainees undergo five months of field training with industrial partners followed by one month of skill development training, while each trainee receives a monthly stipend of Rs50,000 during the programme.The skill development component is being conducted five days a week at eight training centers in Islamabad, Rawalpindi, Peshawar, Lahore, Multan, Karachi, Hyderabad and Quetta. The curriculum covers communication, emotional intelligence, executive presence, stress management, business writing, public speaking, conflict resolution, stakeholder management, critical thinking, time management, innovation and engineering ethics.

DAR STRESSES COLLECTIVE ACTION AS CLIMATE CHANGE HITS REGION HARD NEWS

ISLAMABAD

SALEEM JADOON

EPUTY Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Friday said climate change was having a disproportionate impact on countries across the region, with severe consequences for lives, livelihoods and infrastructure. The deputy prime minister expressed these views during a visit to the Embassy of Nepal, where he signed the Condolence Book opened in memory of those who lost their lives in the devastating floods and landslides in Nepal. DPM/FM Ishaq Dar conveyed his heartfelt condolences to the bereaved families and expressed Pakistan’s solidarity with the government and people of Nepal, according to a news release issued by the DPM’s Office. He prayed for the departed souls, the swift recovery of the injured and the safety of those still missing, while underscoring the need for collective efforts to counter the disproportionate impact of climate change on countries of the region, with its severe consequences for

lives, livelihoods and infrastructure. Reaffirming Pakistan’s support for Nepal’s relief and recovery efforts, he conveyed Pakistan’s readiness to extend all possible assistance to help the country overcome the consequences of the natural calamity. DPM Dar chairs meeting to review recent diplomatic engagements In a separate engagement, Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Friday chaired a meeting at the Ministry of For-

PPP, independent candidate set for close contest in Skardu by-election GILGIT

STAFF REPORT

A close contest between the PPP and an independent candidate is expected in the GBA-09 (Skardu-III) byelection being held on Saturday, with around 33,000 voters eligible to cast their ballots. The by-election was necessitated after the GB Supreme Appellate Court disqualified PPP candidate Fida Muhammad Nashad, who had been declared the returned candidate in the June 7 general elections. Nashad’s son, Akhtar Abbas, is now contesting the seat on a PPP ticket, while former minister Mohammad Saleem is running as an independent candidate. PMLN’s Mohammad Ajmal is also in the field, along with seven other candidates who have filed nomination papers. Polling will be held from 8am to 5pm, according to the election schedule. On Friday, GB Chief Election Commissioner Raja Shahbaz Khan said all arrangements for the by-election, including security and deployment of polling staff, had been completed. He said the Election Commission was committed to ensuring “transparent, impartial and peaceful” polling and providing voters with a secure environment to exercise their right to vote. “No kind of obstruction in the polling process will be tolerated,” the chief election commissioner warned, directing officials and institutions concerned to perform their duties responsibly.

KP govt to add 50 new electric buses to Peshawar BRT system PESHAWAR

STAFF REPORT

The Khyber Pakhtunkhwa government has decided to add 50 new electric buses to Peshawar Bus Rapid Transit (BRT) system keeping in view the growing number of passengers and increasing pressure on the existing fleet. According to the Transport and Mass Transit Department on Friday, the project has been included in the Annual Development Programme (ADP) at an estimated cost of Rs4.989 billion. After administrative approval, the project is expected to be completed within 22 months. Under the plan, 50 battery-electric buses, each 12 metres long will be purchased along with 15 chargers, Intelligent Transport System (ITS) equipment and other necessary accessories. The new buses will operate on five new or extended BRT routes covering a combined distance of around 31 kilometres. The proposed routes include Mall of Hayatabad to Jamrud, Pishtakhara to Bara, Bazaar via Bara Road, Gulbahar to Dabgari Gardens and Shah Alam Bridge to Naguman and extension of the Kohat Adda route. A total of 50 electric buses have been proposed for these five routes. The Transport Department estimates that the electric buses will save approximately Rs198 million annually in fuel costs and another Rs70 million in maintenance expenses. This would result in estimated annual savings of around Rs268 million. Officials expect the addition of new electric buses to provide citizens with improved public transport facilities and help reduce the number of private vehicles on Peshawar’s roads.

eign Affairs to review recent diplomatic engagements and follow up on understandings reached during his recent visits. The meeting reviewed Pakistan’s foreign policy priorities, key outcomes of recent engagements and preparations for upcoming diplomatic engagements, according to the Foreign Office (FO). The DPM/FM directed all concerned to ensure effective coordination and timely follow-up on priority matters, the FO said in a post on X.

Foreign Secretary Ambassador Amna Baloch, Special Secretary (UN) Ambassador Nabeel Munir and senior officers of the Ministry of Foreign Affairs attended the meeting. Dar, UN secretary-general candidate discuss global challenges Meanwhile, Ambassador Olara Otunnu, candidate for the position of Secretary-General of the United Nations, along with Ruhakana Rugunda, Special Envoy of the President and former Prime Minister of Uganda, called on Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Friday. They exchanged views on the evolving global landscape and challenges facing the multilateral system. The DPM/FM underscored Pakistan’s longstanding commitment to multilateralism and stressed the need to strengthen the system, including through effective implementation of understandings and decisions reached in multilateral fora, the FO said in a separate post on X. He reiterated the importance of respect for international law and implementation of United Nations Security Council resolutions, particularly regarding the disputes of Palestine and Jammu & Kashmir.

PAC grills SSGC over Rs80b gas losses, Rs16b uncollected cess PROFIT

MONITORING REPORT

The Public Accounts Committee (PAC) on Thursday grilled Sui Southern Gas Company (SSGC) officials over Rs 80 billion in unaccounted-for gas (UFG) losses, Rs 16 billion in uncollected Gas Infrastructure Development Cess (GIDC), outstanding dues and gas theft through fake meters. According to a news report, the committee, chaired by Syed Naveed Qamar, reviewed audit objections relating to the Petroleum Division for FY2024-25. Auditor General of Pakistan (AGP) officials informed the committee of an audit objection involving Rs 80 billion in UFG losses suffered by SSGC. The committee was told that the Oil and Gas Regulatory Authority (Ogra) had set targets for UFG losses. Members questioned

the regulator's absence from the meeting and sought details on gas supplies and losses, particularly in Balochistan. Petroleum Division officials said 120 million cubic feet per day (MMCFD) of gas was being supplied to Balochistan, where losses had exceeded 36%. They said efforts were underway to reduce the losses and some improvement had already been achieved. Committee members observed that gas supplies through the system had fallen to half. The PAC deferred the UFG matter and directed the Petroleum Division to reconcile discrepancies in the audit figures and satisfy the auditors before the objection could be settled. The committee separately examined an audit objection involving Rs 16 billion in GIDC that SSGC had failed to collect. Audit officials said there was no stay order covering the Rs 16

billion when the objection was raised. Qamar questioned why the company had failed to recover the amount at the time. SSGC officials said payments were being received from customers who were not involved in litigation. Committee members pointed out that the Supreme Court had ordered collection of the amount and questioned what legal measures had been taken to implement the order. Qamar directed officials to provide details of the steps taken to implement the court's decision. The matter was also deferred for further consideration. K-Electric owes SSGC Rs 30 billion The PAC also examined SSGC's failure to take adequate action against defaulters after their gas connections had been disconnected. SSGC officials told the committee that Rs 2.3 billion had subsequently been recovered.

Karachi police inquiry holds SSP Korangi responsible for negligence in DHA assault case KARACHI

STAFF REPORT

A police inquiry committee has held SSP Korangi Fida Janwari responsible for administrative negligence in the handling of an alleged assault on a brother and sister outside their apartment in Defence Housing Authority (DHA), recommending departmental and legal action against several officials and the alleged attackers. South DIG Asad Raza said on Friday that a “transparent investigation” had been conducted into the incident and that the inquiry report had been forwarded to the additional inspector general for further action. The incident involved Noor ul Ain and her brother, who were allegedly assaulted by a woman using

a dumbbell outside their apartment in DHA’s Khayaban-e-Bukhari. A video of the incident that went viral on social media showed the woman allegedly beating Noor. When she resisted, however, police personnel were seen restraining Noor and her companion instead of the alleged attacker. The footage also showed a man in plain clothes taking an official weapon from a police officer and using it to smash a CCTV camera. Sources said the inquiry report recommended action against SSP Korangi Fida Janwari for administrative negligence in handling the matter. The committee also recommended that the case registered against the affected family be disposed of under B-class, according to the sources. Legal action was recom-

mended against four Korangi district police officials, including Darakhshan SHO Rashid Ali, SIU officer Imran and police mobile officer Aftab, the sources said. The inquiry committee further recommended registration of a case on the complaint of the affected family. According to the sources, cases were also recommended against two women and a man who were allegedly seen assaulting the family in the video. The Sindh High Court has separately directed police to ensure protection for the affected family. South DIG Raza said action would be taken against officials and other individuals found responsible in accordance with the law and in light of the inquiry report.

ANF busts Afghan-based drug traﬃcking network, 671 kg meth seized RAWALPINDI

STAFF REPORT

Pakistan’s Anti Narcotics Force (ANF) has disrupted a transnational drug trafficking network linked to Afghanistan, leading to the seizure of 671 kg of methamphetamine, commonly known as "ice," at ports in Karachi and Colombo, Sri Lanka, the ANF

spokesperson said on Friday. The operation followed actionable intelligence developed by the ANF, which led to the recovery of 200 kg of methamphetamine concealed in a container at Karachi Port and the arrest of Afghan national Ehsan Ullah, described as the mastermind of the network, along with his local facilitators. Following an investigation into the Afghan

kingpin, the ANF shared critical intelligence with Sri Lankan authorities and the United States Drug Enforcement Administration (DEA), the spokesperson said. The information prompted coordinated action involving the DEA and relevant Sri Lankan authorities, resulting in a joint operation at Colombo Port and the recovery of a further 471 kg of methamphetamine concealed in towels.

Saturday, 5 September, 2026

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

5:40

1:30

5:00

Diesel price jumps Rs3.74 per litre as govt cuts petrol price by Rs3.13 5:00

PROFIT

Pakistan has asked the Asian Development Bank (ADB) to expedite approval of financing for the $2.5 billion Karachi-Rohri section of the Main Line-1 (ML-1) railway project, as the government targets laying its foundation stone during the current financial year. The request was made by Federal Minister for Railways Muhammad Hanif Abbasi during a meeting with ADB Vice President Yang, where the two sides discussed ML-1 financing, ongoing railway reforms and Pakistan Railways’ development strategy. Abbasi said the Karachi-Rohri upgra-

dation was estimated to cost around $2.5 billion and was targeted for completion within three years. Under the government’s plan, the 183-kilometre Nawabshah-Rohri section would be taken up on a priority basis. The minister requested ADB to expedite approval of the central investment loan for the project and sought continued cooperation from the bank and other development partners to finance the remaining ML-1 sections from Rohri to Peshawar. According to the minister, the ML-1 upgrade would cut Karachi-Lahore travel time by around five hours while improving train speeds, safety, passenger facilities and op-

erational efficiency. The government also expects the project to increase freight capacity and freight train speeds, as Pakistan Railways seeks to expand cargo operations alongside passenger services. Abbasi briefed the ADB delegation on reforms aimed at improving the railway’s financial and operational performance, including infrastructure upgrades, outsourcing, digitalisation and greater use of public-private partnerships and private-sector investment. He said Pakistan Railways was also using technology to improve service delivery, transparency and revenue generation. The ADB vice president acknowledged

8:15

PROFIT

AHMAD AHMADANI

The government has increased the price of high-speed diesel by Rs3.74 per litre while reducing petrol price by Rs3.13 per litre for September 5 to 7, 2026, under the revised petroleum pricing mechanism. According to the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices of petroleum products for the three-day period from September 5 to September 7, 2026. The ex-depot price of high-speed diesel has been increased from Rs374.31 to Rs378.05 per litre, registering a rise of Rs3.74 per litre. In contrast, the ex-depot price of Motor Spirit, commonly known as petrol, has been reduced from Rs349.00 to Rs345.87 per litre, providing consumers with a reduction of Rs3.13 per litre. The latest adjustment means that diesel has crossed the Rs378 per litre mark, while petrol has fallen below Rs346 per litre under the latest pricing decision. The Petroleum Division stated that the revised prices have been determined on the basis of the revised petroleum pricing mechanism issued by the federal government, with OGRA revising the ex-depot prices accordingly. The increase in diesel prices is particularly significant as high-speed diesel is widely used in the transportation, agriculture and other sectors of the economy. The latest Rs3.74 per litre increase will therefore be closely watched by transporters and other diesel consumers. Petrol, meanwhile, has received a relatively larger downward adjustment of Rs3.13 per litre. The reduction will lower the price paid by motorists during the three-day period for which the revised rates have been announced. Under the notification, the revised prices will remain applicable from September 5 to September 7, after which petroleum prices will be subject to the next review under the applicable pricing mechanism. The latest decision once again highlights the frequent fluctuations in petroleum prices under the revised pricing system, with consumers facing different movements in the prices of petrol and diesel within successive review periods.

Judicial commission censures treatment of key witness in Mir Raza murder case KARACHI

STAFF REPORT

A judicial commission probing the murder of Mir Raza Ali has expressed displeasure over the treatment of a ride-hailing driver who provided crucial information to the victim’s family and investigators, directing police to ensure he is not treated as a suspect. In its written order issued on Friday, the commission directed Investigation Officer DSP Siraj Lashari to contact the driver’s employer and landlord and request that his employment and tenancy arrangements be restored. Justice Omar Sial also instructed the investigating officer to assure both parties that the driver was not an accused in the murder case but a key witness who had cooperated with the authorities in establishing facts surrounding the incident. The directions came after cab driver Ahsanullah told the commission a day earlier that his employer had taken back the vehicle he used to earn his livelihood and that his landlord had evicted him. He said he was subsequently forced to take shelter at Ferozabad police station. The commission noted that Ahsanullah had fully cooperated with Raza’s family in their efforts to trace him. He had provided details of the ride, submitted a location map and shared ride-related information with the commission. Justice Sial directed the IO to address the concerns of the driver’s employer and landlord and assure them that no coercive action would be taken against them in connection with the murder investigation. The commission observed that instead of being rewarded for assisting the victim’s family, Ahsanullah was effectively being punished by the system. “The system… in fact is punishing him for assisting the family,” the order stated. Raza, a young entrepreneur, was allegedly kidnapped from PECHS before his body was found in bushes near a wedding hall in Gulistan-e-Jauhar on July 29. His disappearance had been reported to police on July 28. The initial post-mortem examination failed to resolve questions surrounding his death, prompting a second examination. The subsequent post-mortem established that Raza had been tortured and murdered, ruling out the initial uncertainty over whether he had died by suicide. Raza’s family subsequently sought the formation of a joint investigation team, arguing that the police probe had been botched. The Sindh High Court rejected the request, after which the Sindh government sought the formation of a judicial commission to assess the investigation. During Friday’s proceedings, the commission also recorded statements of Raza’s business partners Ahmed and Abdullah and SDPO Arshad Afridi. The written order directed Ahmed to submit a copy of a notice issued by the Sindh Revenue Board along with receipts for payments made to a food delivery company. The documents had surfaced during the commission’s proceedings. Due to shortage of time, the commission directed Hasem, Raziq and SHO Adeel Afzal to appear at the next hearing.

Pakistan seeks faster ADB approval for $2.5b Karachi-Rohri ML-1 upgrade NEWS DESK

6:25

the ongoing reforms and reaffirmed the bank’s commitment to cooperation on the

Published by Asad Nizami at Qandeel Printing Press, 4 Queens Road, Lahore, for PT Print (Pvt) Limited. Ph: 042-36300938, 042-36375965. Email: newsroom@pakistantoday.com.pk

modernisation and sustainable development of Pakistan Railways.