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ArMy's ToP brAss bACks MAkkAh PACT, wArns AgAInsT ‘MAy 9-sTylE unrEsT’ Saturday, 3 October, 2026 | 20 Rabius Sani, 1448

CORPS COMMANDERS REAFFIRM PAKISTAN’S COMMITMENT TO SAUDI SECURITY AND HARAMAIN SHARIFAIN

COMMANDERS WARN AGITATION ATTEMPTS WILL FACE ‘DECISIVE ACTION’ UNDER RULE OF LAW

ISLAMABAD STAFF REPORT

AKISTAN’s top army commanders on Friday backed the trilateral defence pact with Saudi Arabia and Türkiye, condemned Houthi attacks against the Kingdom and reaffirmed Pakistan’s commitment to the security and sanctity of Islam’s two holiest mosques in Makkah and Madinah. The resolve was expressed at the 277th Corps Commanders’ Conference, chaired by Chief of Army Staff and Chief of Defence Forces Field Marshal

Syed Asim Munir at the General Headquarters in Rawalpindi. The forum also underscored the importance of internal stability and warned that any attempt to create a situation similar to the May 9, 2023 unrest would be met with decisive force and the rule of law. “The forum welcomed the Makkah Joint Defense Agreement between Pakistan, Saudi Arabia and Türkiye, noting its contribution to longstanding strategic and collective defense ties,” the military’s media wing, the InterServices Public Relations (ISPR), said in a statement. “It strongly resented Houthi attacks

Dar says more than six countries interested in joining Makkah defence pact ISLAMABAD

STAFF REPORT

More than six countries have expressed interest in joining the Makkah Joint Defence Agreement, Deputy Prime Minister and Foreign Minister Ishaq Dar said on Friday as Pakistan, Saudi Arabia and Turkiye move to strengthen the alliance’s institutional framework. Speaking at a press conference in Islamabad, Dar reiterated that the agreement was defensive in nature and was not intended to be used for offensive purposes. Pakistan, Saudi Arabia and Turkiye signed the Makkah Joint Defence Agreement on August 7. Under the pact, an attack against one of the three members is considered an attack against all. Dar said the alliance’s first meeting was held on August 31 and its headquarters would be established in Saudi Arabia. Pakistan has nominated retired Lieutenant General Nauman Mahmood as its first secretary general. An emergency meeting under the agreement is scheduled for next week to review the security situation in Saudi Arabia following a series of attacks on the kingdom. The three countries had already agreed at a meeting in New York last week to convene an urgent meeting of their military chiefs to consider assistance to Saudi Arabia under the agreement. Dar said Pakistan remained committed to Saudi Arabia’s defence and pointed to provisions of the UN Charter allowing collective self-defence arrangements. The foreign minister also addressed disruptions in the Strait of Hormuz, saying vessels should not be required to pay fees or service charges to cross the strategic waterway. He said Iranian President Masoud Pezeshkian and Foreign Minister Abbas Araghchi wanted the current dispute surrounding the strait to be resolved, while acknowledging that the parties involved were seeking outcomes favourable to their respective interests. Turning to Afghanistan, Dar said Pakistan wanted friendly relations with its neighbour but expected Kabul to ensure that Afghan territory was not used to launch attacks against Pakistan.

Rs 20.00 | Vol XVII No 189 | 8 Pages | Islamabad Edition

FORUM STRONGLY CONDEMNS HOUTHI ATTACKS ON SAUDI ARABIA, BACKS TRILATERAL DEFENCE TIES

FORUM REAFFIRMS RIGHT TO ACT AGAINST MILITANCY EMANATING FROM AFGHANISTAN

against Saudi Arabia, expressed solidarity with the Kingdom and affirmed Pakistan’s commitment to the security and sanctity of the Haramain Sharifain.” The Makkah Joint Defence Agreement, signed by Pakistan, Saudi Arabia and Türkiye on Aug 7, stipulates that an armed attack against any of the three countries would be considered an attack against all. On Thursday, military spokesperson Lt Gen Ahmed Sharif Chaudhry said Pakistan’s commitment to the Makkah alliance and to the security and stability of Saudi Arabia was “absolute”, though he said details of how the agreement would

be operationalised were confidential. The Corps Commanders’ Conference followed a recent meeting in Riyadh of the military chiefs of Pakistan, Saudi Arabia and Türkiye, as the three countries continue to develop the framework of their defence cooperation. INTERNAL STABILITY The commanders also “underscored the importance of internal stability” and warned against a repeat of the unrest that swept Pakistan on May 9, 2023. The warning comes as jailed former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party prepares to begin a march on Oct 4 demanding his release, while the opposition and government hold talks aimed at easing political tensions. “Any attempt to cause agitation or create 9th May like situation, on any pretext whatsoever, will be dealt with decisive force and rule of law, without hesitation and discrimination,” the ISPR statement said. The military did not explicitly name PTI in the warning. The government and opposition concluded their first round of negotiations on Friday without announcing an agreement and are due to meet again at 2 p.m. on Saturday. PTI said earlier on Friday that its march remained on schedule.

CONTINUED ON PAGE 03

PM announces Rs12.5m aid, homes, free education for Somalia victims’ families ISLAMABAD

SALEEM JADOON

Prime Minister Muhammad Shehbaz Sharif on Friday announced financial assistance of Rs12.5 million for each of the three bereaved families of Pakistanis who lost their lives during a rescue operation off the coast of Somalia, besides providing free education and healthcare to their children and a house to each affected family. Prime Minister Muhammad Shehbaz Sharif spoke by telephone with Azhan Kashif, son of Pak-

istani national Syed Kashif Umar, who lost his life in Somalia, according to a statement issued by the Prime Minister’s Office (PMO). The prime minister expressed heartfelt condolences to Azhan Kashif over the passing of his father, Syed Kashif Umar. Three Pakistanis — Syed Kashif Umar, Mahmood Ahmed Ansari and Rafiullah Khan — lost their lives during the rescue operation off the coast of Somalia. “We fully share in your grief,” he said, adding, “May Allah Almighty grant him a high place

in Paradise and give your family the strength to bear this shock.” He assured the families that the government would bring the mortal remains of his father and the other two deceased Pakistanis back to Pakistan as soon as possible, the PMO said. Directives were issued to the Ministry of Foreign Affairs and all other relevant institutions to maintain direct contact with the families of Kashif Umar and the other two deceased individuals at every stage.

CONTINUED ON PAGE 03

Pakistan, Italy move to deepen defence, security cooperation ROME

STAFF REPORT

Minister for Defence Khawaja Muhammad Asif on Friday held bilateral talks with Italian Defence Minister Guido Crosetto here, with the two sides reviewing defence, military and security cooperation and discussing ways to broaden and deepen future engagement. The meeting took place at the Palazzo Aeronautica, where Defence Minister Crosetto received his Pakistani counterpart. An Italian Armed Forces contingent presented a guard of honour, while military bands played the national

anthems of Pakistan and Italy. The two ministers also visited the Air Force Museum at the venue, according to a Ministry of Foreign Affairs news release. The discussions covered the broader spectrum of bilateral defence and security cooperation. The two ministers reaffirmed their intention to deepen and diversify exchanges and discussed maintaining close contacts on regional peace and security, supporting United Nations peacekeeping missions and strengthening cooperation against terrorism. The meeting also featured an exchange of views on major inter-

national crisis scenarios, with particular focus on the Middle East and efforts to promote de-escalation and ensure security for navigation through the Strait of Hormuz. Minister Crosetto said the two sides discussed the importance of dialogue and ongoing diplomatic efforts aimed at resolving outstanding issues and promoting long-term stability. Kh Asif invited Minister Crosetto to visit Pakistan for bilateral consultations, which the Italian defence minister accepted. The two ministers had previously met on the sidelines of the Munich Security Conference in February 2026.

Indian Army must explain whom it killed in fake encounter: Tarar ISLAMABAD

STAFF REPORT

Federal Minister for Information and Broadcasting Attaullah Tarar on Friday said that following the DG ISPR’s press conference, questions had arisen over the Indian Army’s fake encounter, asking whom it had killed if Pakistani soldier Muhammad Asif was alive and well. In a post on social media platform X, the minister said that since DG ISPR had presented Muhammad Asif during his press conference, the Indian side had a lot of explaining to do. “This is an embarrassment at the highest level for India,” he said. The minister questioned which innocent Kashmiri the Indian Army had killed in the fake encounter, adding that the question remained unanswered.

ECP proposes Dec 14 for Punjab local government elections ISLAMABAD

STAFF REPORT

The Election Commission of Pakistan (ECP) on Friday proposed holding local government elections in Punjab on Dec 14 and forwarded a draft election schedule to the provincial chief secretary for consultation. In a letter, Additional Director General for Local Government Elections Chaudhry Nadeem Qasim sought the Punjab government’s views on the proposed timelines so that the final schedule could be issued after approval by the ECP. Under the proposed schedule, nomination papers will be filed from Oct 27 to 30, followed by scrutiny from Nov 2 to 5. Appeals against acceptance or rejection of nomination papers can be filed from Nov 7 to 11 and will be decided by election tribunals between Nov 12 and 16. Candidates would be allowed to withdraw their candidature by Nov 18, while the final list of candidates would be displayed on Nov 19. Election symbols would be allotted on Nov 20. Polling is proposed for Dec 14, with returning officers scheduled to announce the results by Dec 17. The proposed timeline follows a consultative meeting between the ECP and a provincial cabinet committee on Aug 20 to discuss the date for local government elections. At that meeting, the commission had agreed to the provincial government’s proposal for holding the polls between Dec 15 and Jan 15, 2027. The latest proposal would bring the polling date forward by a day from the previously discussed window. The Punjab cabinet had on Aug 6 approved an allocation of Rs12.5 billion for conducting the local government elections, paving the way for the long-delayed exercise. The last local government elections in Punjab were held in 2015 under the Punjab Local Government Act, 2013. Polling was conducted in phases between October and December that year, while elected councils assumed office in 2017 following indirect elections for mayors and chairpersons. Since then, local government elections in the province have faced repeated delays. The PTI government dissolved the elected local bodies in April 2019 before the completion of their tenure. The Supreme Court subsequently struck down the move and restored the councils, which eventually completed their term on Dec 31, 2021. Successive provincial governments subsequently amended or replaced the Punjab Local Government Act, with each legislative change requiring the ECP to restart preparations, including delimitation and other electionrelated arrangements. Changes in the legal framework, along with administrative delays, contributed to repeated postponement of the polls. Under Article 140A of the Constitution and the Elections Act, local government elections are to be held within 120 days of the expiry of local bodies. With Punjab’s elected councils completing their term in December 2021, elections were due by April 2022 but have remained pending.

Pakistan condemns Houthi attack on Madina power station ISLAMABAD

STAFF REPORT

Pakistan on Friday strongly condemned an alleged Houthi attack on the Taibah power distribution station in Madina, describing the strike on civilian infrastructure supplying electricity to the Prophet’s Mosque as a “grave provocation”. “This reprehensible attack against civilian infrastructure supplying electricity to the Holy Prophet’s (PBUH) Mosque is a grave provocation and a matter of deep concern and anguish for millions of Muslims worldwide,” the Foreign Office said in a statement. Pakistan called for an immediate and unconditional end to what it described as “reckless actions”, warning that such incidents also posed a grave threat to regional peace and security. The condemnation came a day after the

Saudi-led coalition fighting Yemen’s Houthis said the group had attacked the power distribution station, which supplies electricity to the Prophet’s Mosque. According to the coalition, the attack put one transformer out of service but did not affect the wider electricity network. Pakistan also reaffirmed its “unwavering solidarity” with Saudi Arabia and expressed full support for the kingdom’s sovereignty, territorial integrity and security. “We stand firmly with Saudi Arabia in its efforts to safeguard the Two Holy Mosques, protect its people and ensure the safety of pilgrims,” the Foreign Office said. It added that Pakistan would continue its efforts to promote lasting peace and stability in the region. The latest incident follows an earlier episode last month when Saudi Arabia said it had intercepted and destroyed a Houthi drone south of Makkah before it en-

tered the city’s restricted airspace. The Saudi-led coalition described that incident as the second Houthi attempt to target Makkah since 2017. The coalition said the Madina attack was part of what it described as repeated Houthi attempts to target the Two Holy Mosques and “provoke” Muslims worldwide. It said it would continue taking measures to protect the holy sites and pilgrims. The coalition also said it had intercepted and destroyed a ballistic missile launched by the Houthis towards the southern Saudi city of Khamis Mushait, although it did not immediately provide details about any damage or casualties. Meanwhile, local officials said on Friday that the Houthis had also targeted the headquarters of the Saudi-led coalition forces’ command in Aden with several ballistic missiles and drones.

02 NEWS

Saturday, 3 October, 2026 | ISLAMABAD

PAKISTAN COULD REGAIN B+ RATING BY END OF FY27 IF MACRO STABILITY, REFORMS HOLD: FINANCE MINISTER

PROFIT

web Desk

INANCE Minister Muhammad Aurangzeb said on Thursday that Pakistan could secure a B+ sovereign credit rating by the end of FY27 or the first quarter of FY28 if macroeconomic stability and structural reforms remained on track, while cautioning that it was premature to describe the ongoing $7 billion IMF programme as the country’s last. Speaking during engagements at the Overseas Investors Chamber of Commerce and Industry (OICCI) and Pakistan Stock Exchange (PSX) in Karachi, Aurangzeb projected economic growth of 4% in FY27, up from 3.7% in FY26, and expected the current account deficit to remain within the initial target of 0-1% of GDP despite international oil prices rising above $100 per barrel amid the ongoing Middle East geopolitical crisis. Pakistan has been rated B with a stable outlook by S&P Global Ratings since July 2026, while Moody’s upgraded the country to B3 from Caa1 with a stable outlook in August. Aurangzeb said he was hopeful Pakistan could reach B+ by the end of the current fiscal year or the first quarter of FY28 if it maintained its trajectory of macroeconomic stability backed by structural reforms. He recalled that global rating agencies had upgraded Pakistan three times since April 2025 and said B+ represented the highest sovereign rating achieved by the country over the past four decades. The government, however, has ambitions beyond returning to that level, with Aurangzeb saying Pakistan ultimately wanted to break into the BB rating category. He linked the recent upgrades to an improvement in the external economy, including record remittance inflows and foreign exchange reserves held by the State Bank of Pakistan (SBP).

Pakistan, IMF talks hit deadlock over fuel subsidy, Rs1.4 trillion gas receivables PROFIT

MUHAMMAD AURANGZEB SAYS IT IS PREMATURE TO CALL CURRENT $7BN EFF PAKISTAN’S LAST IMF PROGRAMME; EXPECTS 4% GROWTH AND CURRENT ACCOUNT DEFICIT WITHIN 0-1% OF GDP IN FY27

SBP-held foreign exchange reserves reached a record $21.44 billion in September 2026, raising import cover to around three months and bringing it in line with the international benchmark. Aurangzeb said macroeconomic stability, credit-rating upgrades and the privatisation of Pakistan International Airlines (PIA) should help encourage greater investment from both domestic and foreign investors.

IMF RELIANCE AND EXTERNAL FINANCING: Responding to a question on whether the ongoing $7 billion Extended Fund Facility (EFF) would be Pakistan’s last IMF programme, Aurangzeb said it was premature to reach that conclusion. He said a decision on the matter would be taken during FY27 as Pakistan worked to gradually reduce its reliance on external financing. The country still needed to address short-term rollover and balance-of-payments requirements, he said. Aurangzeb described the successful issuance of the $3 billion Eurobond as an important step towards gradually reducing Pakistan’s dependence on foreign support, including the IMF. He stressed that Pakistan needed to make its recent economic gains permanent rather than returning to the boom-and-bust cycle that has repeatedly followed periods of stabilisation. Growth, he said, needed to come increasingly from productivity, investment, exports and employment instead of temporary injections of liquidity and consumptionled expansion. The government’s six economic priorities included making macroeconomic stability permanent, achieving sustainable and inclusive growth, continuing structural re-

PSX INVESTOR BASE MORE THAN DOUBLES: Aurangzeb also pointed to a sharp expansion in participation at the Pakistan Stock Exchange, where the investor base has more than doubled to 656,218 from 321,144 in March 2024. A record 25,281 new investors were added during September 2026, the highest number ever recorded in a single month. The KSE-100 Index, meanwhile, has climbed from around 67,000 points in March 2024 to around 170,000 points. The finance minister said 11 companies had come to the market during FY26, the highest number in more than two decades, while another five IPOs had already been completed during the first quarter of FY27. He stressed, however, that the objective extended beyond gains in the benchmark index. Market confidence needed to translate into capital formation for businesses, infrastructure, housing, innovation and employment. Speaking at the PSX gong ceremony marking the listing of Naya Nazimabad Apartments REIT, Aurangzeb said the offering had attracted around eight times subscription during book-building and 4.3 times subscription in the general public offering. He highlighted REITs as an important mechanism for mobilising investment into housing and real estate. RS400BN HOUSING FINANCING PIPELINE: Under the Prime Minister’s Apna Ghar Programme, around Rs60 billion

grades. He cautioned that foreign investment takes time to materialise and requires policy continuity, effective facilitation and a conducive investment ecosystem. The government would continue supporting that ecosystem through engagement with the US EXIM Bank, other export credit agencies and international partners, alongside tariff discussions and negotiations.

has already been financed, while banks have approved an additional financing pipeline of approximately Rs340 billion that is awaiting disbursement. Aurangzeb said the banking sector had taken the lead in providing financing and the challenge was now increasingly on the supply side, where housing development needed to accelerate. He emphasised the role of private developers, including the Association of Builders and Developers of Pakistan (ABAD), in converting available financing into construction, investment and employment. The finance minister also called for greater access to finance for SMEs, agriculture, housing and other underserved segments.

REFORMS MOVE INTO EXECUTION: Aurangzeb said structural reforms had moved beyond the design phase and into execution, covering taxation, energy, stateowned enterprises, privatisation and public finance. The number of tax filers has crossed 5.7 million, compared with around 3.9 million last year and approximately 1.8-1.9 million in 2022. He said revenue mobilisation would continue alongside taxpayer facilitation, with greater use of data and digitalisation to strengthen tax administration. The finance minister also emphasised the need to deepen capital markets so that domestic savings could be directed towards productive investment in infrastructure, housing, privatisation and private-sector expansion. Pakistan would simultaneously seek to shift its bilateral economic relationships from aid towards trade and investment while pursuing opportunities in digitalisation, blockchain, Web 3.0 and other emerging technologies. Aurangzeb said Pakistan’s economic trajectory would increasingly depend on the private sector’s ability to invest, innovate, create employment and expand productive capacity, while the government focused on policy continuity, facilitation and sound economic governance.

PRIVATE SECTOR TO LEAD INVESTMENT: Aurangzeb reiterated that the government’s role was to create the policy and regulatory environment necessary for businesses to operate, while the private sector would have to lead investment and economic growth. He pointed to the participation of major Pakistani business groups in the consortium for the PIA transaction, involving Arif Habib and Mr Tabba, representing close to $1.2 billion in collective investment. The transaction, he said, demonstrated the ability of domestic businesses to collaborate, create scale and pursue larger investment opportunities. International investor interest was also increasing. Aurangzeb highlighted Turkish interest in the privatisation of electricity distribution companies as well as interest from US, Saudi and other international investors across mining and minerals, technology, agriculture, oil and gas and refinery up-

PTA says it cannot impose under-16 social media ban, cites lack of legal powers g

MoNitoriNg report

The ongoing negotiations between Pakistani authorities and the International Monetary Fund (IMF) have hit a deadlock over the government's fuel compensation scheme and the proposed write-off of Rs1.4 trillion in gas company receivables, as the lender pressed for targeted subsidies and waiving delayed payments, The Express Tribune reported. Despite the IMF's reservations, the government is unlikely to prematurely end the three-month fuel compensation scheme for motorcyclists and small-car owners, officials said on condition of anonymity. However, an extension beyond the initial period may not be possible. The IMF believes the scheme's actual cost could exceed the government's Rs75 billion estimate for three months. The disagreement comes as the IMF holds discussions with ministries as part of the fourth review of Pakistan's $7 billion loan programme and Article IV consultations. A detailed meeting on the gas-sector circular debt management plan is expected next week after an earlier meeting was postponed. Sources said the IMF appreciated reforms aimed at reducing unaccounted-for gas and stemming fresh debt accumulation, but differences persisted over fuel subsidies and gas-sector receivables. The Petroleum Division argued that current fuel prices placed an excessive burden on consumers. It told the IMF that the imported cost of petrol before taxes and margins was around Rs250 per litre, while consumers paid around Rs390. The breakdown shared with the lender included nearly Rs110 per litre in taxes and Rs27 in various margins. The IMF maintained that the government should set expenditure priorities but reiterated Pakistan's commitment to "refrain from introducing any fuel subsidy or cross-subsidy scheme". It pressed the government to provide any assistance through a targeted subsidy mechanism. Differences also remain over gassector circular debt. The IMF reiterated its position that receivables of gas-sector companies arising from delayed payments should be written off, while the Petroleum Division argued that the government could not abandon commitments to gas distribution and exploration companies. In an earlier meeting, the IMF had asked Pakistan to write off intercorporate debt and waive late-payment surcharges estimated at Rs1.7 trillion. The lender has also raised reservations over using Rs850 billion in gas company dividends to settle the debt, arguing that the proposed arrangement was not fiscally neutral. The Petroleum Division has proposed settling circular debt, estimated at Rs3.6 trillion, through tariff differential claims of Sui gas companies, which would then make payments to OGDC, PPL and GHPL. The plan seeks a net cash injection into the companies while accounting for their cash-flow projections and contractual obligations. Incremental dividends have been proposed for OGDC, PPL and GHPL, where the government holds major shareholdings. The IMF has questioned the potential leakage to non-controlling and minority shareholders and whether additional inflows, including petroleum development levy and LNG-related savings, would be sufficient to support the plan. The Petroleum Division maintains that the circular debt stems from tariff differential claims created by policy-driven public-service obligations that prevented Sui companies from fully recovering costs and resulted in unpaid

forms, shifting economic relationships from aid towards trade and investment, expanding access to finance and positioning Pakistan for the new economy.

REGULATOR TELLS IHC IT CANNOT INTRODUCE MANDATORY AGE VERIFICATION; SAYS ENCRYPTED PLATFORMS LIMIT TARGETED BLOCKING AS SOCIAL MEDIA OVERSIGHT SHIFTS TO NEW AUTHORITY PROFIT

web Desk

The Pakistan Telecommunication Authority (PTA) has told the Islamabad High Court (IHC) that it does not have the legal authority to impose mandatory age verification or prevent children under 16 from accessing social media, arguing that such restrictions would require powers beyond its existing statutory mandate. As per news reports, the regulator also cited technical barriers to enforcing restrictions on major social media platforms and said its role in regulating online content was becoming transitional following changes introduced under the Prevention of Electronic Crimes Act (PECA) 2025. The PTA presented its position in a detailed report submitted to the IHC in response to a petition seeking restrictions on social media use by underage users. While acknowledging concerns over children’s exposure to online harms, the authority said establishing a universal minimum age for social media accounts could not be done through administrative action under its existing powers. As a statutory regulator, the PTA said it could exercise only those powers ex-

pressly provided by law and therefore could not independently establish a new age-verification regime. The authority has asked the court to dismiss the petition to the extent that it seeks measures falling outside its statutory mandate. It argued that any assessment of regulatory failure should be based on duties specifically assigned to it under the law, which currently do not include setting a minimum age of 16 for social media use.

SOCIAL MEDIA REGULATION IN TRANSITION: The PTA also pointed to changes in Pakistan’s regulatory structure following the promulgation of Peca 2025. Under the new framework, the Social Media Protection and Regulatory Authority (SMPRA) is set to take over regulation of social media platforms from the PTA. Until SMPRA is formally notified, the PTA said it continues to carry out functions under the original Peca 2016 framework on a best-efforts basis. Its responsibilities for content blocking and removal have consequently become transitional as regulatory authority shifts towards the new body.

ENCRYPTION LIMITS TARGETED

BLOCKING: Beyond the legal constraints, the PTA highlighted technological obstacles that make enforcement against individual pieces of social media content difficult. Major platforms including Facebook, Google and X operate as over-thetop (OTT) services and are neither licensed by the PTA nor registered in Pakistan, according to the report. The authority said this meant they were not bound by local codes of conduct. Regulators generally have two options when dealing with problematic online content: requesting action directly from platform operators or attempting to restrict the content through technical measures. The PTA said the first option was constrained because social media companies assess requests under their own community guidelines, which may not necessarily correspond with Pakistani laws. Technical intervention presents a separate challenge because most major platforms use HTTPS encryption. The encryption prevents third parties from identifying individual resources or pieces of content being accessed within a secure connection. As a result, the PTA said blocking an individual URL on an HTTPS-based platform was nearly impos-

Pakistan’s oil sales rise 6% to 4.1m tonnes in 1QFY27 on furnace oil surge g

SEPTEMBER SALES FALL 2% YOY BUT RISE 7% MOM TO 1.3 MILLION TONNES; PSO LEADS LISTED OMCS WITH 639,000 TONNES, FOLLOWED BY APL AT 116,000 TONNES AND WAFI ENERGY AT 110,000 TONNES

during the first quarter. While total volumes rose 6% YoY to 4.1 million tonnes, sales excluding furnace oil remained flat at 3.8 million tonnes.

PROFIT

News Desk

Pakistan’s oil marketing companies (OMCs) recorded sales of 4.1 million tonnes during 1QFY27, up 6% from a year earlier, with growth driven largely by higher furnace oil (FO) consumption amid LNG shortages and a shift in the power generation mix, according to Topline Pakistan Research. The first-quarter increase, however, masked continued weakness in underlying fuel demand. Excluding furnace oil, OMC sales stood at 3.8 million tonnes during the quarter, unchanged from the same period last year as sharply higher petrol and diesel prices weighed on consumption. In September alone, total OMC sales stood at 1.3 million tonnes, down 2% YoY but 7% higher than August. Ex-FO sales fell 8% YoY to 1.25 million tonnes, although they increased 8% MoM. Topline attributed pressure on exFO demand to significantly higher fuel prices. The average price of motor spirit (MS), or petrol, increased 42% YoY to Rs375 per litre, while highspeed diesel (HSD) prices climbed 48% to Rs401 per litre. Petrol sales fell 5% YoY and 2%

MoM to 652,000 tonnes in September. HSD volumes declined 11% YoY to 525,000 tonnes but rebounded 25% from August, mainly due to seasonal factors, according to Topline.

FURNACE OIL DRIVES QUARTERLY GROWTH: Furnace oil emerged as the main driver of overall OMC sales growth, with September volumes surging sevenfold YoY to 93,000 tonnes. Topline attributed the increase primarily to LNG shortages, which increased the use of furnace oil for power generation. FO sales nevertheless declined 5% from August due to lower power demand, according to the brokerage. The sharp increase in FO consumption explains the divergence between headline and underlying OMC sales

PSO GAINS MARKET SHARE: Pakistan State Oil (PSO) was the only listed OMC to record both annual and monthly sales growth in September. PSO sold 639,000 tonnes during the month, up 12% both YoY and MoM, while its market share increased by 230 basis points to 47.51%. The improvement was mainly driven by HSD, with PSO selling 269,000 tonnes of diesel compared with 199,000 tonnes in August. Attock Petroleum Limited (APL) recorded sales of 116,000 tonnes, unchanged YoY and down 4% MoM. Its market share declined by 99 basis points to 8.62%. Wafi Energy Pakistan recorded sales of 110,000 tonnes, down 6% YoY but up 2% MoM, while Hascol Petroleum sold 37,000 tonnes, down 14% YoY and up 5% from August. The combined market share of the four listed OMCs increased by 90 basis points to 67% in September. Overall, OMCs sales are expected to grow by 8-10% during FY27.

sible without restricting the entire website, which would also make legitimate content inaccessible. The regulator said the increasing use of artificial intelligence was adding another layer of complexity to online content regulation as digital technologies continued to evolve.

PTA SAYS 88% OF PROCESSED URLS BLOCKED: Despite the legal and technological constraints, the PTA defended its record on restricting online content. According to a URL-blocking summary submitted to the court, the authority has processed more than 17 million URLs and blocked around 88.20% of them. The regulator also highlighted its efforts to address online safety through public awareness and digital literacy initiatives. These included collaborations with UNICEF, TikTok, Meta and the GSMA aimed at improving digital literacy and protecting children from online risks. The PTA maintained that protecting minors online remained an important objective, but argued that imposing a universal age threshold and mandatory verification system would require a legal framework granting the regulator specific powers to do so.

Pace approves up to Rs1.5 billion investment in Ever Green Water Valley

Company also plans to divest 73.86m shares in Pace Barka Properties at a price to be determined through the market PROFIT

News Desk

The board of Pace (Pakistan) Limited has approved an equity investment of up to Rs1.5 billion in associated company Ever Green Water Valley (Private) Limited, subject to shareholder and other necessary corporate approvals. In a material information notice submitted to the Pakistan Stock Exchange (PSX) on Friday, the company said the terms and conditions of the investment would be determined by its board in accordance with the Companies Act, 2017. The board has also approved the divestment of 73.86 million ordinary shares in another associated company, Pace Barka Properties Limited. The shares represent a 15.40% stake in Pace Barka Properties and have a par value of Rs10 each. Pace said the shares would be sold to First Capital Securities Corporation Limited or another prospective buyer in the market at a fair value to be determined in accordance with the law. The transaction would be carried out on terms and conditions considered to be in the best interests of the company and would remain subject to the necessary shareholder and corporate approvals. The company disclosed the decisions under Sections 96 and 131 of the Securities Act, 2015, and Regulation 5.6.1 of the PSX Rule Book.

news 03

saturday, 3 October, 2026 | IsLAMABAD

WOrld BAnk PrOPOSES ExPOrt-finAnCE PrOduCtS fOr ExiM BAnk tO BOOSt trAdE

PROFIT

STAFF REPORT

HE World Bank has proposed developing export-finance products for the Export-Import Bank of Pakistan (EXIM Bank) to support incremental trade flows as part of broader efforts to boost exports, investment and private-sector growth. The proposal was discussed during a meeting between Finance Minister Muhammad Aurangzeb and a World Bank delegation led by Country Director Bolormaa Amgaabazar, according to a Finance Division statement issued on Friday. The two sides reviewed progress under Pakistan’s economic reform partnership with the World Bank and discussed imple-

mentation priorities covering growth and jobs, fiscal management, revenue mobilisation, trade and investment, capital markets and institutional reforms. The meeting reviewed a proposed World Bank growth and jobs operation, including measures aimed at improving the investment climate, access to finance, sectoral productivity and labour-market outcomes. The World Bank outlined measures to reduce regulatory and business constraints and improve access to finance for small and medium enterprises. Reforms discussed under the Prime Minister’s Access to Finance initiative included a unified insolvency framework, factoring legislation and regulations to facilitate SME financing and greater private-sector participation. Sectoral proposals included reforms in pharmaceuticals, medical products and agri-

culture, including improvements in seed registration, deregulation of selected commodities and stronger international accreditations to facilitate access to international procurement and export markets. The two sides also discussed skills development and labour-market reforms, including improvements to the national vocational qualifications framework, greater international recognition of Pakistani skills and development of formal overseas migration pathways supported by digital platforms. The meeting reviewed implementation of the National Tariff Policy and World Bank analytical support for tariff reforms, including work related to the automotive sector and future tariff changes. The discussions focused on improving competitiveness, productivity, investment

and Pakistan’s integration into global value chains. On fiscal reforms, the two sides reviewed World Bank technical assistance for the Medium-Term Revenue Strategy and revenue-policy modelling. They also discussed GST harmonisation, including greater alignment of rules, definitions and classifications for services and stronger federal-provincial coordination and data sharing. Progress on agricultural income tax reforms was also reviewed, including implementation of amended provincial laws and development of digital systems for registration, filing and payment. The meeting discussed provincial property-tax reforms aimed at improving valuation methods, strengthening digital systems and gradually moving towards more market-

UK oﬀers technical support for Pakistan’s trade, investment reforms PROFIT

STAFF REPORT

The United Kingdom has offered technical assistance to support Pakistan’s investment, trade and private-sector reforms, with the two countries discussing measures to strengthen institutional capacity and improve the business environment. The offer came during a meeting between Finance Minister Muhammad Aurangzeb and British High Commissioner Jane Marriott, according to a Finance Division statement issued on Friday. Marriott was accompanied by Development Director Sam Waldock and Senior Economist Louie Dane. The two sides discussed Pakistan’s economic reform priorities and opportunities to deepen bilateral trade and in-

Pakistan’s trade deficit widens 6% to $3.56 in September

vestment cooperation, with a focus on fiscal management, tax administration, digitalisation, expenditure efficiency, trade and investment promotion, public investment and public-private partnerships (PPPs). The British High Commissioner expressed the UK’s interest in supporting Pakistan’s economic reforms through technical assistance aimed at strengthening the institutional and policy framework for investment, trade and private-sector development. She also welcomed Pakistan’s $3 billion dual-tranche sovereign Eurobond issuance, citing its significance for investor confidence and access to international capital markets. Aurangzeb said Pakistan had moved from economic stabilisation towards sustainable and inclusive growth, with

greater emphasis on productivity, investment, exports and employment. He stressed the need for coordination across government institutions to ensure consistent implementation of reforms and create a more predictable environment for businesses and investors. The meeting discussed the use of PPPs to mobilise private capital for development projects. Aurangzeb highlighted the need for stronger project preparation, commercially viable structures and greater institutional capacity to execute PPP transactions. The British side expressed interest in providing relevant technical expertise for PPP development, including at the provincial level. The two sides also discussed measures to expand bilateral trade and investment and encourage greater participation

FBR allows sealing of textile, spinning factories over system integration failures

PROFIT

STAFF REPOR

Pakistan’s trade deficit widened by over 6% year-on-year to $3.56 billion in September 2026 as growth in imports outpaced the increase in exports, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. The trade deficit stood at $3.35 billion in September 2025. Exports increased 17.6% year-on-year to $2.94 billion in September from $2.5 billion in the same month last year. Imports rose more than 11% to $6.49 billion from $5.85 billion during the corresponding period. On a monthon-month basis, the trade deficit increased nearly 8% from $3.29 billion recorded in August 2026. During the first quarter of fiscal year 2026-27, Pakistan’s trade deficit widened by more than 15% to $10.79 billion, compared with $9.37 billion in the same period of the previous fiscal year. Exports during July-September FY27 rose nearly 11% to $8.42 billion from $7.59 billion in 1QFY26. Imports increased more than 13% to $19.22 billion during the quarter, compared with $16.97 billion in the corresponding period last year.

Army's top brass backs Makkah pact, warns against ‘May 9-style unrest’ CONTINUED FROM PAGE 01

The May 9 unrest erupted after Khan was briefly arrested in Islamabad in 2023, with protesters attacking military installations and other state buildings. The commanders also reviewed the regional security situation and reaffirmed what they described as Pakistan’s right to selfdefence and to take targeted action against militancy emanating from Afghanistan. The forum said the Taliban leadership bore responsibility for the consequences of what it described as facilitating militant violence “on behalf of India”. Pakistan has repeatedly accused Afghanistan’s Taliban authorities of allowing militants to use Afghan territory to launch attacks inside the country, allegations Kabul denies. The commanders praised sustained intelligence-based counterterrorism operations but said military action needed to be complemented by non-military measures, including grassroots governance, public engagement, dismantling links between terrorism and criminal networks and strengthening police capacity. The conference also reiterated Pakistan’s position on the disputed Kashmir region and its support for a resolution in accordance with relevant United Nations Security Council resolutions and the aspirations of Kashmiris.

by UK businesses in Pakistan. Marriott highlighted the potential role of British companies and diaspora networks in private-sector development, including supporting the growth and internationalisation of small and mediumsized enterprises. The meeting also covered opportunities in the aviation sector, including potential international financing and investment. The British side highlighted the possible role of international financing partners, while Aurangzeb said relevant technical and commercial considerations would guide the process. The finance minister also acknowledged the UK’s existing support for Pakistan’s economic reform programme through technical assistance, expertise and knowledge sharing.

PROFIT STAFF REPORT

Textile and spinning factories that fail to connect their operations with the Federal Board of Revenue’s (FBR) digital monitoring network can now have their premises sealed by Inland Revenue officials under a new enforcement procedure notified on Thursday. The rules strengthen the tax authority’s ability to enforce electronic oversight of production and movement of taxable goods. Businesses brought under the regime may be required to provide the FBR with digital visibility over their production, sales, inventories and clearances, rather than relying solely on conventional reporting. The FBR can use several technologies for this purpose, ranging from Production Monitoring Systems and video surveillance to video analytics and its digital eye system. The

Board can also prescribe other electronic tracking and identification mechanisms. Failure to install or connect with the required system can trigger the sealing procedure. The notification also sets out a mechanism for subsequently de-sealing premises. The scope of the regime is not limited to textile and spinning units. It can cover registered persons and manufacturers, or specified categories of either, as well as goods listed in the Third Schedule to the Sales Tax Act, 1990. The FBR can extend the monitoring requirements to other taxable goods or categories of goods through notifications published in the official Gazette. The new framework also gives authorities enforcement powers over goods moving outside the prescribed monitoring network. Specified taxable goods can be seized if they are produced, removed, transported or supplied without being captured by the required Production Monitoring System or another prescribed mechanism. The same action can be taken where goods are required to carry official identification but are found without prescribed tax stamps, banderoles, stickers, labels, barcodes or other identification devices. Such goods may ultimately be confiscated. Transporters can also be affected by the enforcement action. A vehicle or other conveyance being used to carry non-compliant goods can be seized and may be confiscated after adjudication.

PM announces Rs12.5m aid, homes, free education for Somalia victims’ families CONTINUED FROM PAGE 01

Kashif Umar was among the three Pakistanis who lost their lives during the rescue operation of a hijacked ship in Somalia. The prime minister announced that the government would provide free education and healthcare facilities to the children of the deceased Pakistanis. He further announced that the government would provide a house to each of the affected families. He said the bereaved families would not be left alone during this difficult time and that the government would provide all possible support and assistance. He directed the Ministry of Foreign Affairs and the Pakistan Embassy to expedite the process of repatriating the bodies to Pakistan while maintaining constant contact with Somali authorities and other relevant stakeholders. He also instructed that all possible measures be taken to provide the best medical care to the injured Pakistanis and ensure the safe return of the remaining Pakistani personnel. PM CONDOLES WITH IRANIAN FM OVER SISTER’S DEATH Meanwhile, Prime Minister Muhammad Shehbaz Sharif on Friday held a telephone conversation with Iran’s Foreign Minister Syed Abbas Araghchi. He conveyed his heartfelt condolences

to the foreign minister on the sad demise of his sister and expressed his deepest sympathies to FM Araghchi and his family. He offered prayers for the departed soul, praying that Allah Almighty grant her eternal peace and give strength and fortitude to the bereaved family to bear the irreparable loss. Foreign Minister Araghchi thanked the prime minister for his kind and thoughtful gesture and for sharing in his grief during this difficult time. ‘ECONOMY TO GET BOOST WITH EXPORT OF ADDITIONAL 70,000 MT RICE TO MALAYSIA’ In a related development, Prime Minister Shehbaz Sharif on Friday said the export of an additional 70,000 metric tons of Pakistani rice to Malaysia would prove to be a significant step for the national economy while contributing to the prosperity of farmers. He said enhancing access to global markets for Pakistani agricultural products was the government’s top priority. “We will continue our journey toward the goal of export-led economic growth through sustained hard work,” he said in a statement. The prime minister lauded the relevant ministries and authorities for their concerted efforts that successfully secured an additional export volume of 70,000 metric tons of Pakistani rice to Malaysia for the period from October to December 2026.

based property valuations. On capital markets, the World Bank Group discussed support for a reform roadmap through the Capital Markets Development Council to deepen domestic markets and broaden financing avenues. The two sides also reviewed technical assistance for the government’s rightsizing programme, debt-management capacity, domestic bond-market development and investor relations. The World Bank briefed the finance minister on analytical work concerning Pakistan’s sovereign credit profile and potential pathways towards further rating improvements. Governance and institutional reforms were also discussed, with a focus on government effectiveness, regulatory quality, transparency, accountability and improving the business environment.

OPEC+ delays 2027 oil capacity review as Middle East war disrupts projects PROFIT

STAFF REPORT

OPEC+ has delayed a review of members’ production capacity that will help determine 2027 oil output quotas after the US-Israeli war on Iran disrupted capacity-expansion projects across the Middle East, Reuters reported, citing two sources close to the matter. The alliance, comprising the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, ordered an independent review of members’ production capacity in late 2025 ahead of setting 2027 quotas. The assessment had been scheduled for completion by the end of September 2026, but the deadline has slipped, the sources said. One source said the review was now expected to be completed by mid-November. OPEC did not immediately respond to a request for comment. The conflict in the Middle East has delayed projects expected to increase production capacity in some OPEC+ countries, complicating estimates of how much oil individual members will be capable of producing sustainably. Some countries have also yet to submit data required for the assessment, according to the sources, who did not identify the members involved. The review is intended to provide an updated independent assessment of each member’s sustainable production capacity, a key metric used in negotiations over output targets. Delays to planned capacity additions could affect assumptions used in the assessment and potentially influence members’ future production allocations. Countries assessed as having lower sustainable production capacity could face pressure for lower quotas, while members that have expanded capacity could seek larger allocations. The exercise comes amid disagreements within the producer group over quotas. The United Arab Emirates, which had sought a higher allocation to reflect increased production capacity, left the alliance in May. Iraq has also sought a higher quota and considered leaving OPEC, Reuters reported in June, citing sources.

04 COMMENT

When the legal profession becomes a responsibility

Saturday, 3 October, 2026

Indian duplicity

The episode of an Indian lie and its denial of the IWT judgement against it shows its duplicity

N the face of it, the episode of the Indian lie about a Pakistani soldier and its continued rejection of the Indus Waters Treaty have no relation with each other. However, they are intertwined, because they show two faces of the same lie. DG ISPR Lt Gen Ahmed Sharif Chaudhry did not so much pick holes in India’s story of the Pakistani soldier who was killed in Kashmir while acting as a militant commander as drive a vehicle through it, exposing it for a tissue of lies and nonsense, hardly worth serving as more than a plot for a bad spy novel. India was spreading the story that a Pakistani soldier was serving as a militant commander in Indian Occupied Kashmir since 2023, and had been identified after being killed as Muhammad Asif. The truth proved less dramatic. Asif, of Attock, had joined the Army in 2000, entered the SSG in 2005, and retired in 2024. He is now employed by a security firm, lives in Rawalpindi, as is very much alive, as he demonstrated by his presence at the DG ISPR’s presser on Thursday. The Foreign Office spokesman’s statement once again noted that the Court of Arbitration appointed under the Indus Waters Treaty could not be rejected, as India was doing. It was a reminder not just of the Indian attempt to wriggle out of a solemn treaty commitment, but that the Kashmir issue was behind its suspension of the treaty. India had alleged that Kashmiri terrorists were behind the Pahalgam attack which led to the suspension, and that that terrorism was instigated by Pakistan. It showed clearly that India will not be at peace with Pakistan until it allows the Kashmiri people to exercise that right of self-determination which has been upheld by the United Nations. It also gave a glimpse of Indian duplicity which, as General Chaudhry pointed out, now extends to state terrorism both at home and abroad. It does seem that India would be better served if it sincerely tried to solve its vast internal problems rather than concoct bad spy stories that only serve to buttress earlier lies, and which no one except the weak minded can believe.

Ahsan Bhoon must be measured by that standard

Rizwan ahmad

lawyer’s journey begins with the law, but the legal profession itself reaches far beyond the courtroom. The Bar occupies a distinctive place within the justice system, bringing together lawyers not merely as practitioners but as participants in an institution with its own traditions, standards and voice. Through the Bar, the legal community engages with the administration of justice, addresses matters affecting the profession and contributes to the institutional life of the justice system. It is within this broader setting that professional leadership acquires its particular significance. A lawyer may win arguments, command a courtroom, acquire professional distinction and eventually find his name associated with institutions of considerable authority, yet none of these things answers the question that ultimately matters: what did he do with the influence that came to him? Law is not merely a profession of advocacy; it is where individual rights encounter public power, where institutions are questioned and where the language of justice becomes something the citizen can invoke. Professional standing, therefore, acquires its deeper meaning through the manner in which that influence is exercised. There is, therefore, a point at which professional stature must be measured by something deeper than achievement. The real test of a lawyer is not how high he rises within the profession, but what he carries with him when he gets there. Does he carry the concerns of those who have little institutional voice? Does he protect the independence of the profession when pressure makes silence easier? Does he use access to authority to strengthen institutions rather than himself? And can he engage with power without becoming dependent upon it, while retaining the courage to question it when necessary? These questions distinguish professional prominence from professional significance. These questions find a practical expression in the professional role of Muhammad Ahsan Bhoon, Advocate. His career has extended beyond advocacy before the courts into representative positions within the institutions of the legal profession. He has served as Vice Chairman of the Pakistan Bar Council and President of the Supreme Court Bar Association, while his representation of the Bar in the Judicial Commission has placed him within a constitutional forum where professional judgement meets questions concerning the administration of justice. Yet the significance of such positions lies less in the titles themselves than in the trust placed in the person who holds them. Representation within the Bar carries a particular duty. A representative is expected to understand the concerns of practitioners, articulate them before the relevant institutions and pursue their resolution with

Dedicated to the legacy of late Hameed Nizami

Arif Nizami (Late) Founding Editor

From skills to earnings M. A. Niazi

Babar Nizami

Editor Pakistan Today

Editor Profit

Learning from Asian Tiger Subhan maSood

VER the next decade, about 1.2 billion young people in emerging and developing economies will reach working age. On current projections, only around 420 million jobs will be created. The gap is often treated as a youth-employment problem. It is also a development question: why do some countries turn a large young population into higher productivity and incomes while others simply add millions of frustrated jobseekers? South Korea offers one of the clearest historical examples. In the early 1960s, it was still a poor, largely agrarian economy recovering from war. It had few natural resources and little domestic capital. But basic education had expanded rapidly, giving the country something its industrial strategy could use: a large pool of increasingly educated young workers. From 1962, Korea’s Five-Year Economic Development Plans began linking manpower planning with the industries the country wanted to build. In the first phase, labour-intensive exports such as textiles, garments and basic electronics required production workers. The Vocational Training Act of 1967 created a national framework for training them. Public training centres expanded, while firms were encouraged to train workers inside the workplace. The system changed as the economy changed. When the government pushed into steel, machinery, shipbuilding, chemicals and electronics in the 1970s, technical education shifted towards the skills those industries required. Specialized vocational schools were expanded, workplace training became more formal, and employers were drawn directly into the training system. According to the Korea Development Institute, vocational-school graduates rose from 47,000 in 1965 to 201,000 by 1980. The point was not simply to produce more certificates. It was to supply the technicians an industrialising economy was already demanding. This worked because the demand for labour grew alongside the supply of skills. World Bank records show that manufacturing’s share of employment doubled from around nine percent in 1963 to 18 percent in 1974. Open unemployment fell from 8.2 to 4.1 percent over the same period. Export expansion mattered here: Korea initially concentrated on labour-intensive manufacturing, allowing industrial growth to absorb large numbers of workers before the economy moved towards more capital- and technologyintensive production. The wider development gains were substantial. Real GDP grew by an average of about 10 percent a year between 1962 and 1994, while real exports grew by roughly 20 percent annually. One World Bank historical estimate puts absolute poverty at about 40 percent in 1965 and 10 percent by 1980. As incomes rose and

industrial capabilities improved, education moved further towards engineering, science and higher-level technical skills. None of this means vocational training caused the “Korean miracle” on its own. Korea also benefited from high investment, export-oriented industrial policy, infrastructure, foreign assistance and strong state capacity. Nor was every job empowering. Young women formed an important part of the workforce in textiles and other export industries, often under difficult conditions and with lower wages. Employment expanded economic opportunity, but decent work remained a separate challenge. The useful lesson is more specific. Korea connected human-capital policy to structural change. It did not train young people first and hope suitable jobs would somehow appear later. As firms moved into new industries, training systems adjusted; as workers became more skilled, firms could move into more productive activities. Pakistan needs precisely this connection. The Pakistan Economic Survey 2025-26 puts the population at about 252 million, with those aged 15 to 29 accounting for more than a quarter of the country. Yet the Labour Force Survey 2024-25 finds that 28.4 percent of 15- to 24-year-olds are

persistence. The welfare of lawyers is part of this role. Questions of professional security, access to facilities, working conditions and the broader dignity of those who practise law are not peripheral matters. A profession that expects its members to defend the rights of others must also remain attentive to the circumstances in which its own members work. This is where leadership acquires a practical dimension. Welfare does not advance through statements alone. It requires engagement with institutions, sustained attention to unresolved matters and an ability to translate professional concerns into issues that authorities can address. Mr. Bhoon’s engagement with questions relating to lawyers’ welfare reflects this representative function. Such efforts should not be understood as the work of one person alone, since institutional progress is ordinarily the result of collective endeavour, but they demonstrate the value of a representative prepared to carry professional concerns beyond the confines of the courtroom. The Bar’s role becomes still more consequential when it enters the constitutional sphere. Lawyers occupy a distinctive position within a constitutional order because they are not merely participants in litigation; they are also part of the institutional framework through which justice is administered and constitutional principles are interpreted. The Bar consequently has a legitimate interest in questions concerning judicial appointments, judicial independence and the functioning of institutions entrusted with the administration of justice. Mr. Bhoon’s participation in the Judicial Commission brings this dimension of professional leadership into sharper focus. Representation of the Bar in a constitutional body concerned with judicial appointments requires consideration of issues whose consequences extend well beyond the immediate interests of individual lawyers. The quality and independence of the judiciary affect the functioning of the legal system as a whole, while the presence of the Bar within the constitutional process provides a professional perspective distinct from that of other institutions represented there. Such a position also places a premium on institutional independence. A Bar must be capable of engaging with the judiciary and the executive without becoming subordinate to either. Independence, however, should not be confused with perpetual confrontation. A mature professional institution can cooperate where cooperation serves the public interest, disagree where principle requires disagreement and maintain its own position without allowing every institutional difference to become a personal or political contest. This question of independence has also appeared in Mr. Bhoon’s public position that lawyers should maintain their own institutional voice rather than allow political groups to dictate the position of the Bar. The broader principle is important regardless of where one stands on particular controversies. The legal profession participates in public life because of its constitutional and professional role, but its credibility depends upon retaining the capacity to form and

neither in employment, education nor training. Among young women, the figure is 45.4 percent. Training more people is not enough. Skills programmes should begin with labour-market demand: which occupations are firms hiring for, where, and at what skill level? Employers should help shape courses and offer apprenticeships or placements. Women and underserved youth need support where mobility, digital access or financing blocks entry into work. Success should then be measured after training ends: whether participants are employed, self-employed and earning more three to six months later. Certification is an output; sustained earnings are the outcome. Pakistan already has a glimpse of what this link can produce. State Bank data show that ICT-service exports reached $3.8 billion in FY2025, while freelancers brought in about $985 million. Around 60 percent of Pakistani freelancers are under 30. Young workers have connected marketable skills to global demand, generating income and foreign exchange. Similar links are needed across other tradable sectors. South Korea cannot be copied, and the global economy Pakistan faces is different from that of the 1960s. But its experience changes the way the youth question should be asked. Pakistan’s demographic advantage will not be determined by how many young people it trains. It will be determined by how many can turn skills into durable livelihoods, rising productivity and better incomes. The writer is a freelance columnist.

South Korea cannot be copied, and the global economy Pakistan faces is different from that of the 1960s. But its experience changes the way the youth question should be asked. Pakistan’s demographic advantage will not be determined by how many young people it trains. It will be determined by how many can turn skills into durable livelihoods, rising productivity and better incomes.

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express its own institutional views. The same maturity is required within the profession itself. Lawyers are trained to disagree, challenge propositions and test the strength of opposing arguments. Difference of opinion is therefore not a weakness of the Bar; it is an essential part of its intellectual character. What matters is whether disagreement can coexist with professional dignity. Those entrusted with representative office inevitably influence the tone of the institutions they serve, and leadership is tested not only by the causes one advances but also by the manner in which differences are handled. Considered from this perspective, Muhammad Ahsan Bhoon’s professional journey is less a story about offices than about the widening scope of his engagement with the profession. Advocacy places a lawyer before the court; representation places him before his professional community; constitutional participation places him within processes whose consequences reach the justice system itself. Each sphere calls for a different form of judgement, and each carries consequences beyond the individual. There is also an important lesson here for the profession as a whole. Recognition should neither become personal mythology nor be withheld because no individual can claim sole credit for institutional achievements. Lawyers’ welfare is advanced collectively, constitutional institutions function through the participation of many actors, and professional progress is rarely attributable to a single name. Yet collective achievement does not diminish the value of individual service. It makes conscientious representation all the more important. Ultimately, professional leadership is revealed through the substance it brings to representation. Did it give genuine concerns a meaningful voice? Did it engage institutions with seriousness? Did it preserve room for independent professional judgement? These are quieter achievements than public acclaim, but they are the ones that determine whether an office has served its purpose. The takeaway is simple: the worth of professional leadership lies not in the prominence of the position, but in the manner in which it is used. In law, where professional authority is closely connected with the protection of rights and the functioning of justice, office is best understood as a form of public trust. And perhaps this is where Muhammad Ahsan Bhoon’s professional journey carries its greatest significance. The offices he has held matter, but what gives them meaning is the way he has used them to remain connected with the concerns of lawyers, to represent the Bar within important institutional forums and to participate in questions that reach beyond individual practice. His record reflects a conception of leadership in which professional standing is not an end in itself, but an opportunity to serve, represent and strengthen the institutions to which a lawyer belongs. In a profession where titles can be temporary but institutional contributions can endure, that is the kind of leadership that leaves a lasting mark.

Editor’s mail

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

E-stamp chaos reigns

THE government’s introduction of e-stamp papers is a welcome step aimed at stopping fraud and bringing transparency to official documentation. People have welcomed the move because it promised convenience, accountability and an end to the old stamp-paper mafia. But what this really means on the ground is a different story. The banks responsible for issuing e-stamps often push applicants into long and unnecessary delays, saying the ‘printer is not working’, or the ‘system is down’, or the ‘paper is not available’. They ask people to come back after hours or even the next day. A process designed to take minutes ends up consuming several hours. There is a simple solution. People should be able to generate the challan, pay it online or at any bank, instantly receive their estamp with a secure barcode or QR code, and print it on any standard printer. This would save time, reduce rush at banks and make the system truly digital. The purpose of e-stamp is defeated if people still face avoidable obstacles. The authorities concerned must fix these operational issues and move towards a fully online, user-friendly mechanism. Only then will the initiative fulfil its promise of making lawful documentation easier instead of more frustrating. AHSAN UL HAQUE KARACHI

Death drives here

MORE people die in road accidents in Pakistan every year than in all other crimes put together, including terrorism. Unfortunately, enforcement of traffic laws has never been the priority of the rulers for the simple reason that most of the culprits belong to the elite class. In Islamabad, a large vehicle moving at a frighteningly high speed is a common sight on Iran Avenue. Those who have to take a left turn drive on the right-most lane and take the left turn without compromising the car’s speed. This dangerous manoeuvre is executed multiple times every day. The roundabout at the starting point of Iran Avenue displays an ugly chaos with no one caring about the traffic coming from the right side. It is understood that millions of rupees were spent on the installation of cameras across the federal capital, but no one has ever been booked for violation of the traffic laws with the help of these cameras. The traffic police force usually complains about shortage of staff, but that is not a valid excuse for having no control at all on the capital’s busy roads. The rulers need to understand that road terror has become more alarming for the residents of the federal capital than suicide attacks. SIKANDER AQEEL ANSARI ISLAMABAD

No blankets, no mercy

WINTER is not really a pleasant season for everyone. While we enjoy its beauty wrapped in warm blankets in our comfort-able homes, countless children, mostly orphans, struggle to survive without even a single blanket. We cannot truly imagine what they endure in the biting cold. As we celebrate winter as a ‘wonderful season’, they spend their nights trembling along roadsides, fighting harsh winds with nothing to protect them. The reality is painful: winter is not the same for everyone. We live in warm houses, surrounded by comfort, while those innocent children suffer in silence. Sadly, we have failed as a nation to support our own people. We may not be able to provide them luxury homes, but we can offer them one simple gift; a blanket. Even a small act of kindness can bring warmth, comfort and smile to a child who has nothing. A single blanket may seem ordinary to us, but for them, it can mean survival in harsh weather. Let us become the reason someone feels safe this winter. Sometimes, even the smallest gesture becomes a life-changing blessing. WASEEM AHMED TUMP

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COMMENT 05

Pakistan’s nuclear survivability after the Iran campaign

Saturday, 3 October, 2026

Mobility or numbers? aleena Saif Ullah

HERE is an emerging consensus among serious analysts of Pakistan’s nuclear programme, articulated recently by the French Institute of International Relations (IFRI), that Pakistani modernisation is ‘less about a bigger arsenal than about survivability, redundancy, second-strike credibility.’ The formulation is meant to reassure— to counter the alarmist portrayal of Pakistan as an arsenal-racer. It deserves scrutiny, because the events of 2026 have quietly turned it into a contradiction. Survivability and arsenal growth, which the consensus treats as complementary expressions of the same prudent modernisation, come under strain. Pakistan is pursuing both. The Iran campaign suggests it may no longer be able to have both. The reasoning begins with what Operation Midnight Hammer and Epic Fury actually demonstrated about hardened, buried, and mobile targets. The USA struck Iranian facilities engineered over two decades specifically to survive conventional attack— Fordow under 80 to 110 meters of rock— using sequential precision penetration, and paired the munitions with an AI-enabled targeting architecture that processed thousands of aimpoints at machine speed. The relevant lesson for Pakistan is not that deep burial failed; Iran’s most sensitive material survived by being moved. The lesson is the opposite and more uncomfortable: survivability was achieved through concealment and relocation, not through hardening or numbers. What survived did so because it could not be found in time to strike it— the same logic of ambiguity that Pakistan, unlike the notified arsenals of the Cold War, has long built its own posture around. Pakistan’s Full Spectrum Deterrence— understood, as Pakistani officials frame it, within Credible Minimum Deterrence, as a matter of options and variety across the threat spectrum rather than sheer numbers— nonetheless rests in practice on the same assumption. The doctrine, built to offset India’s conventional superiority, distributes capability across tactical, operational, and strategic tiers— warheads kept in central storage during peacetime, survivability provided by dispersal and road-mobility executed at the onset of crisis. That architecture was designed against an adversary that could not achieve persistent, high-confidence observation of the Pakistani heartland. The Intelligence, Surveillance, and Reconnaissance environment demonstrated over Iran— persistent commercial satellite cover-

age, synthetic aperture radar, AI-enabled object detection fusing feeds into near-real-time tracks— is precisely the environment in which movement no longer equals concealment. A road-mobile launcher dispersing during a crisis does not simply disappear. It generates a track. Some of that visibility might be intended— deliberate signalling has always been part of the posture— but an adversary fusing satellite passes with pattern-oflife data cannot easily tell a signal from a launch preparation. India’s widely documented investment in exactly these capabilities means the assumption that mobility equals survivability is depreciating each year. Here is where the consensus turns into a trap. If survivability now depends on the adversary not knowing where an asset is, then it is a function of concealability, which degrades as the number of assets increases. This is not the whole story: more dispersed assets also make the adversary less confident that it has located all of them, which is itself protective, and continuously expanding numbers has not in any case been Pakistani policy— the numbers have grown to match the threat, not for their own sake. Every additional warhead, launcher, and storage site in a continuously surveilled environment is an additional signature to detect, correlate, and target. A larger arsenal is a larger attack surface. The program that IFRI describes as pursuing ‘survivability, redundancy, secondstrike credibility’ through modernisation does expand the number of dispersed assets— and any such expansion should not be confused with unbridled growth in numbers. However, expansion of this kind also enlarges the target set, and a larger target set is easier for a persistent adversary to detect and correlate element by element. Redundancy— more launchers so that some survive— was a rational hedge when detection was the binding constraint. When detection is cheap and continuous, redundancy becomes vulnerability: it multiplies the aimpoints without multiplying the concealment. That does not mean deterrence fails— even one surviving weapon can still threaten unacceptable damage— but it does mean that the margin be-

Pakistan’s planners face a choice that the reassuring consensus obscures. They can continue to expand a dispersed land-based force and accept that each addition marginally improves the adversary’s disarmingstrike calculus even as it adds to the ambiguity the adversary must overcome.

France rocked by student riots

‘The students’ grievances about missing teachers and deteriorating schools were real at first. But dousing a principal in gasoline and attacking firefighters are acts of extreme violence. What makes this politically significant is the eﬀort to turn frustration over schools into a much broader confrontation with the government.’

FOX NEWS

Tyler Speicher

RIME MINISTER Sébastien Lecornu convened a crisis meeting Thursday, canceling ministers’ trips to focus on the protests, which began last week in Parisregion schools and have snowballed. Reports say over 350 high schools and about 30 university campuses were affected by the movement on Thursday alone. RFI reported 83 police and gendarmes were wounded with 119 students and school staffers injured since the start of unrest last week. Reuters reported the principal of Marseille’s Victor Hugo high school was doused in gasoline and injured, while two other principals were injured in attacks in Rouen and Petit-Quevilly. Police used tear gas in several cities, with Reuters reporting students accusing authorities of heavy handed tactics. Meanwhile, authorities are warning of “urban violence” and attempted arson at multiple schools. The protests coincide with the government announcing a series of unpopular spending cuts in its 2027 budget two weeks ago and have become a political flashpoint at a sensitive moment for the French government. Interior Minister Laurent Nunez told Reuters that, “in certain places, there were individuals acting as agitators — people who moved from one school to another to stir up high school and other students and incite them to commit acts of violence.” Education Minister Edouard Geffray called for schools to hold classes remotely if protesters were blocking their premises, posting on X: “Violence will not keep our students from their fundamental right to an education.” Senior Envoy to Europe at the Foundation for Defense of Democracies Simone

hind that survival is thinner than it was. This is the survivability trap. Pakistan’s two stated goals— a fuller spectrum of capability and greater survivability of that capability— were compatible in the threat environment of 2010. In the environment demonstrated in 2026, they are in tension. It is not feasible to simultaneously maximise the number of dispersed nuclear assets and minimise the probability that the adversary locates enough of them to attempt disarming counterforce. The arsenal and the survivability now pull in opposite directions, and continued expansion resolves the tension in the wrong direction. The objection from Islamabad’s perspective is that a larger, more dispersed force complicates any disarming first strike— that dispersal is itself a survivability measure, because no adversary can be confident of destroying all of it. This was true, and it remains partly true against an adversary with imperfect

Rodan-Benzaquen told Fox News Digital, “The students’ grievances about missing teachers and deteriorating schools were real at first. But dousing a principal in gasoline and attacking firefighters are acts of extreme violence. What makes this politically significant is the effort to turn frustration over schools into a much broader confrontation with the government.” The Associated Press reported the protests are quickly blowing up as a hot topic in the election campaign to replace President Emmanuel Macron next May. Far-left presidential hopeful Jean-Luc Mélenchon has decried the government response to the protests as repressive. Critics have accused his party, La France Insoumise, (LFI), of seeking to use the unrest to score points in the presidential campaign and of inciting violence. Rodan-Benzaquen says the LFI has “actively supported the mobilization. Activists circulate footage of clashes, party accounts amplify it and elected officials present themselves as the students’ defenders.” With an election next year, she said, “Mélenchon sees these mobilizations as a way to consolidate young voters and marginalize the moderate left. At a time of deep political, geopolitical and economic challenges, this is a very dangerous situation for France.” Video posted to social media shows the Seine-Saint Denis mayor, Bally Bagayoko of the LFI, joining in with students, smiling and high-fiving pupils after a trash can was set on fire in the street. And the president of the Île de France region told Radio Monte Carlo, “There is a call to action being issued by LFI today: ‘Trash your high school.’ It is being spread via TikTok challenges.” In Madrid on Wednesday, Macron told reporters, “High schools are meant to be open and to share knowledge. They are not meant to be blockaded or to have trash cans set on fire.” The Associated Press, contributed to this report.

Reuters

Tyler Speicher is an American journalist living in Slovenia after spending 25 years covering stories ranging from the Little League World Series to hurricanes, 9/11 and its aftermath for New York City news outlets, including 20 years on the Fox News Channel assignment desk.

intelligence. But it assumes that the counterforce problem is fundamentally about coverage— having enough interceptors or warheads to service every target. The Iran campaign demonstrated that the binding constraint on counterforce has shifted from coverage to detection: the difficult part is no longer striking the target but finding and fixing it in time. Against an adversary whose detection is improving faster than one’s own concealment, adding dispersed assets past a certain point stops buying survivability and starts easing the adversary’s targeting problem. What would the alternative look like? It points toward the one leg of the triad that, for now, resists continuous observation more than the others: the sea. A submarine-based deterrent— Pakistan’s nascent Babur-3 capability— is survivable for reasons that do not depend on the adversary’s ignorance of a fixed or road-mobile position, because a submerged boat generates no persistent overhead signature— though advances toward ‘transparent oceans,’ including undersea sensor networks and acoustic AI, mean this advantage should not be treated as permanent. The logic of the 2026 threat environment favours concentration over dispersal. It argues for investing scarce fissile material and delivery capacity in fewer platforms that are harder to continuously observe, rather than in a growing number of land-based dispersed ones. This is the reverse of Full Spectrum Deterrence’s expansionary logic— and it is why the Iran campaign has called into question the doctrine itself, not merely the arsenal’s size. None of this diminishes the achievement

Pakistan’s deterrent represents, or the genuine security dilemma that gave rise to Full Spectrum Deterrence— India’s conventional advantage is real, and the May 2025 exchange showed that the deterrent still functions at the level it was designed for. The argument is narrower and more technical: that the specific survivability assumptions underneath the doctrine were calculated against an Intelligence, Surveillance, and Reconnaissance environment that no longer exists, and that expanding the arsenal within those obsolete assumptions purchases the appearance of security while eroding the substance. An arsenal optimised for a world where movement conceals and numbers protect is being built for a world where movement reveals and numbers expose. Pakistan’s planners face a choice that the reassuring consensus obscures. They can continue to expand a dispersed land-based force and accept that each addition marginally improves the adversary’s disarmingstrike calculus even as it adds to the ambiguity the adversary must overcome. Or they can tilt future investment more toward concealment— accelerating the submarine leg in particular— without abandoning dispersal or a considered quantification of numbers within the resources available. The two paths are not simply variations on the same modernisation, but neither need they be treated as flat opposites; what 2026 has made clear is that the balance between them needs to shift. The writer can be contacted at aleenasaifullah68@gmail.com.

Why is oil close to $100 if Trump is winning the battle in Hormuz?

The convoys have a huge cost. Putting aside the military expenses, chartering the supertankers costs an average $30 million per crossing, equal to roughly $15 per barrel. To make the convoys work on pure economics, Persian Gulf nations must discount their crude, at times by $20 to $30 below market levels, just to get traders into the game. Is that sustainable? Not likely

BLOOMBERG Javier BlaS

don’t know who will win the U.S.Iran war. But if you ask me who’s prevailing in the battle over the Strait of Hormuz, it’s clear U.S. President Donald Trump has the advantage. As much as Tehran says the opposite, the strait is effectively wide open. Crude oil exports from regional U.S. allies via the waterway, plus bypass routes, have risen to about 80% of prewar levels. Iran, meanwhile, has seen its own oil exports plunge to zero. A couple of months ago, the surge in oil shipments would have been seen as a major American victory. Yet Brent crude, the oil price benchmark, is hovering around $100 a barrel. Inside the White House, some must be asking themselves: If this is winning, what would losing look like? To understand what’s happening, a good place to start is market psychology and the fascination with using a triple-digit price level as a benchmark for success or failure: Thumbs up for Trump if Brent stays below $100 a barrel; thumbs down if it rises above that. In a world where social media shapes narratives, the difference between $99.99 and $100.01 oil can be vast — and absurd. The perception is crucial, though, because it shapes what investors do. With benchmark oil prices perched near the triple-digit threshold and bond yields rising, investors may buy more oil futures as a hedge against the risk of inflation, creating a self-fulfilling prophecy. We saw this trend at work in early September after the 10-year U.S. Treasury bond yield climbed above 5% Then there’s a second psychological factor, tied to a bet on military strategy. Many in the oil market think Trump has been so successful at opening Hormuz that a cornered Tehran would have no other option but to escalate militarily. If attacks on tankers — which still happen daily — aren’t enough to close Hormuz, then Iran would have to go after the source of the shipments:

ports, pipelines and, ultimately, the oilfields themselves. By that perverse logic, Trump is inviting a major escalation by winning a key battle. In the eyes of many oil traders, the attack earlier last month against the EastWest pipeline, a Saudi oil conduit which has allowed the kingdom to bypass Hormuz, is a rehearsal of what’s about to come. Maybe. Iran now faces two choices: Either it softens its negotiating position or it escalates in a way that renders Hormuz irrelevant. The oil market is convinced Iran will choose the latter. The clock is ticking for Tehran to decide because every day its economy deteriorates further under the American economic blockade. What’s clearer is that the oil market would be more vulnerable to renewed conflict now than back in March because the U.S. and its allies have already used significant chunks of their strategic reserves and commercial stockpiles of crude and refined products have fallen. But Trump has demonstrated he has a higher threshold for economic punishment than many, myself included, had expected. Presumably he’s willing to absorb still more pain to force the hand of the Islamic Republic. What’s at stake? A lot. Excluding Iranian exports, the countries on the shores of the Persian Gulf were exporting just over 17 million barrels of crude a day before the war broke out on Feb. 28. Initially the conflict closed Hormuz almost completely, forcing everyone to use limited bypass routes and, ultimately, reduce shipments. At the worst point, in mid-March, crude exports plunged to a quarter of normal levels — less than 4.5 million barrels a day. They stayed low for months, only recovering in June and bouncing back further in July after Iran and the U.S. signed a memorandum of understanding that put a provisional end to the war. That deal collapsed soon after, of course, but flows remained strong as the U.S. military increasingly gained control of the waterway using an array of warships, drones, fighter jets and helicopters. In secrecy, the U.S. Navy cleared Hormuz of sea

mines, creating a two-way corridor hugging the coast of Oman. At first, convoys crossed only at night, but recently they have started to move in daylight — an indication of the Pentagon’s growing confidence in its ability to control the strait. Oil bulls remained incredulous about the flows and suggested the U.S. government was inflating the numbers. But over the last few weeks, most have accepted that Hormuz is witnessing a huge tanker flow. Last week, crude shipments rose to a sixmonth high of 14 million barrels a day, according to Vortexa, an energy markets analytics firm. Other tanker trackers, oil traders and government officials have arrived at similar figures. The convoys have a huge cost. Putting aside the military expenses, chartering the supertankers costs an average $30 million per crossing, equal to roughly $15 per barrel. To make the convoys work on pure economics, Persian Gulf nations must discount their crude, at times by $20 to $30 below market levels, just to get traders into the game. Is that sustainable? Not likely. Meanwhile, the oil flows via Hormuz won’t resolve the other problem plaguing the energy market: the scarcity of refined products — above all, diesel. Shipments of gasoline, diesel and jet fuel remain at 50% of normal. The reason? Moving refining products is more expensive than moving crude. On top of that, some of the refineries inside the Persian Gulf that were attacked in the early days of the war have yet to resume operations fully. Put it all together and the oil market is in wait-and-see mode: Either Iran comes to the negotiation table and prices decline a lot; or Tehran escalates attacks on physical energy infrastructure, sending prices a lot higher. Whatever happens, the status quo isn’t sustainable. That’s the price of winning in Hormuz. Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.”

06 NEWS

Saturday, 3 October 2026 | ISLAMABAD

CHINA URGES END TO UNILATERAL COERCIVE MEASURES AT UNCHINA URGES END TO UNILATERAL COERCIVE MEASURES AT UN

NEW YORK

STAFF CORRESPONDENT

HINA'S Permanent Representative to the United Nations Fu Cong on Thursday delivered a joint statement on behalf of 28 member states at the Third Committee of the UN General Assembly, calling on the international community to firmly oppose and bring an end to unilateral coercive measures (UCMs). "Today's world is plagued by rampant unilateralism and raging unilateral coercive measures," Fu said, stressing that history has proven that UCMs are a major source of international turbulence and disorder. "As the United Nations enters its ninth decade, the international community must remain clear-headed, strengthen unity and cooperation, and firmly oppose and bring an end to such unlawful practices," he said. Developing countries and their peoples continue to bear the brunt of UCMs, which violate the principle of sovereign equality and cooperation, interfere in other countries' internal affairs, run counter to the purposes and principles of the Charter of the United Nations and undermine the foundation of

multilateralism and the international rule of law, Fu said. Despite repeated calls by the international community for the urgent lifting of UCMs, these unlawful measures continue to have devastating, sometimes even life-threatening consequences for countries and their peoples, he said. UCMs, compounded by secondary sanctions and overcompliance, exacerbate existing humanitarian and economic challenges and threaten food, energy and financial security, Fu said. He also noted the growing use of tariffs as a tool of unilateral coercion, including additional tariffs based on unilateral determinations under domestic law and imposed under the pretext of national security or human rights. Such practices further politicize economic and trade issues, undermine the multilateral trading system, disrupt global industrial and supply chains, and impede the efforts of the countries concerned to achieve the Sustainable Development Goals, he said. Moreover, UCMs severely violate basic human rights, including the right to life, health, development and education, and impede the ability of targeted countries to realize those rights, Fu said.

Silence over US-Israeli aggression, destruction is complicity in violence: Iran's deputy FM TEHRAN

AGENCIES

Iranian Deputy Foreign Minister Kazem Gharibabadi said on the World Day for the Prevention of Violence that the day was an opportunity to recall a "bitter reality" of US and Israeli aggression against Iran. "When the United States and the Israeli regime target the security and lives of nations through military aggression, the slaughter of civilians, and the destruction of infrastructure, we confront the most blatant form of state violence." He added that "silence" from other nations when confronted with these crimes amounted to "complicity in violence." US suffered 'humiliating defeat' against Iran: IRGC commander The commander of the Islamic Revolutionary Guard Corps (IRGC) Quds Force said the United States, despite its vast resources and equipment, has been expelled from Iraq and has suffered a humiliating defeat against Iran, according to Press TV. Brigadier General Esmail Qaani made the remarks on Thursday night at the “Nasr Qarib” cere-

Europe agrees to release diesel stocks, Trump says WASHINGTON AGENCIES

European countries have agreed to release diesel stocks, US President Donald Trump said on Friday, after the White House pressured governments to do so in a bid to cool surging fuel prices linked to the Iran war. "Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately," Trump wrote in a post on Truth Social. Trump's statement followed talks on Friday among EU governments, who discussed a proposal by France for European countries to release 50 million barrels of diesel, and for International Energy Agency members to release 50 million barrels of crude oil, three sources familiar with the discussions told Reuters. Under the proposal discussed by European governments on Friday morning, Europe would release part of the diesel volumes in a 20-day period, responding to Trump's demand for a rapid release of fuel stocks, two of the sources said. G7 countries agreed Friday to release 100 million barrels of diesel and crude oil from their reserves over four months, leaders said, agreeing to "refrain from export restrictions on energy" and urging others to do the same.

mony in Tehran, held to mark the second anniversary of the martyrdom of the leaders of the Lebanese Resistance, Press TV reported. “This year’s anniversary is being observed at a time when the US, despite possessing vast resources and equipment, has been expelled from Iraq, and the Iraqi people are celebrating this victory, thanks to the resistance of the Iraqi nation and the heroes of the Resistance Front,” he said. Qaani said the Americans had imagined they could force Iran to surrender within four days, or two weeks at most, “but they encountered a reality vastly different from their calculations.” He added that remaining traces of US presence in the region must also be removed and that signs of this process are already visible. He went on to say that Washington was downplaying the significance of its exit from Iraq in the eyes of world public opinion by raising peripheral issues, such as aircraft flights. Yemen carried out 20 strikes on Houthi targets in Taiz province, spokesperson says

NEWS 07

Saturday, 3 October 2026 | ISLAMABAD

CORPORATE CORNER

BoK Reinforces Commitment to Breast Cancer Awareness with Focus on Early Detection

PESHAWAR STAFF REPORT

Bank of Khyber (BoK) launched PINKTOBER 2026, a month-long breast cancer awareness initiative for its employees, aimed at promoting early detection and encouraging timely access to treatment. The campaign was launched at a ceremony held at the Bank’s Head Office, BoK Tower, Peshawar.This year’s theme, “Many Journeys, One Hope,” highlights that every breast cancer journey is different, while emphasizing the importance of recognizing the signs and taking timely action. The launch featured an awareness session by Dr. Zainab Jan, Consultant Radiation Oncologist at the Institute of Radiotherapy and Nuclear Medicine, Peshawar, who briefed employees on early signs, while Dr. Abeer Jehanzeb, General Surgeon and Fellow Breast Surgeon, Khyber Teaching Hospital Peshawar, explained breast self-examination and addressed questions from staff.Group Head HR, Shaban Butt, said, “It is important to understand the causes of breast cancer, how it can be prevented, and how timely treatment can save lives. As an organization, we stand beside our people. Human capital and well-being are at the heart of everything we do, and we will continue to support our colleagues.

Ghulam Mustafa Bashir Of Pakistan Navy Wins Bronze For Pakistan At Asian Games

ISLAMABAD STAFF REPORT

Representing Pakistan at the ongoing Asian Games in Japan, Ghulam Mustafa Bashir, MCPO/PTI of Pakistan Navy, delivered a commendable performance in the 25m Rapid Fire Pistol event, securing an Individual Bronze Medal among 27 participants. His achievement has brought pride to both Pakistan and Pakistan Navy on the international sporting stage.Ghulam Mustafa Bashir is an accomplished shooter who has qualified for and represented Pakistan at three Olympic Games. He also won a Bronze Medal at the 2022 ISSF World Championships in Cairo, Egypt, one of the world’s premier shooting competitions.

CDA Achieves Historic Milestone, Retrieves Over 1,000 Kanals of Land Worth Billions of Rupees in Sector E-12

ISLAMABAD STAFF REPORT

The Capital Development Authority (CDA) has achieved a historic milestone by successfully retrieving more than 1,000 kanals of worth billions of rupees, in Sector E-12, Islamabad, after more than four decades, paving the way for the long awaited and accelerated development of the sector in E-12, Islamabad. The landmark achievement has been accomplished under the dynamic leadership of Federal Minister for Interior, Syed Mohsin Raza Naqvi, and the able and effective supervision of Chairman CDA and Chief Commissioner Islamabad. The successful retrieval of more than 1000 kanal land of worthy billions of rupees land is the result of coordinated and sustained efforts by all formations of the CDA, MCI working in close collaboration with the Deputy Commissioner Islamabad, ADC (G), ADC (R), Islamabad Police and the concerned Assistant Commissioners.The coordinated efforts of CDA’s Estate, Planning, Building, Environment, Administration and Finance formations, MCI along with the relevant enforcement teams, played a pivotal role in addressing longstanding issues and facilitating the retrieval of the valuable land. The recovered land, comprising more than 1,000 kanals and worth billions of rupees, represents a significant public asset. Its retrieval has removed a major impediment to the planned development of Sector E-12 and will enable the CDA to undertake development works in accordance with the approved planning framework.

GUJRANWALA MASS TRANSIT PROJECT MUST BE COMPLETED BY MARCH: MARYAM

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PUNJAB CM LAUNCHES TWO E-BUS ROUTES, SAYING NO ROOM FOR FURTHER DELAY LAHORE/GUJRANWALA SALEEM JADOON

UNJAB Chief Minister Maryam Nawaz on Friday declared that there was no room for further delay in completing the mass transit project in Gujranwala and acknowledged the difficulties being faced by the people due to the prolonged construction work. Speaking at the launch of two electric bus routes in Gujranwala and during an inspection of the ongoing Gujranwala Mass Transit Corridor Project, the chief minister directed the authorities to complete the scheme by March, according to a statement issued by the Chief Minister’s Office (CMO). CM Maryam Nawaz reviewed the mass transit project, including its underpass, tunnel and road infrastructure, and was briefed on the progress of the project. The two e-bus routes will initially operate from Chanda Qila to Lohianwala and from Khiali to Jinnah/Nandipur. A total of 74 electric buses will eventually operate in Gujranwala once the required infrastructure is completed. During her visit, the chief minister also stopped her vehicle after seeing a group of young students and interacted with them. She distributed sweets, fruit and gifts among the children. The chief minister also inspected the proposed site of the Maryam Nawaz Institute of Cardiology in Gujranwala and

directed the authorities to start construction at the earliest. The 268-bed cardiac institute will be built on 50 kanals and will have an emergency department, coronary care unit, intensive care unit and modern operation theatres. The facility will also include angiography catheterisation laboratories, CT scan, ultrasound and gamma camera facilities. A 3-Tesla MRI and an ultra-fast CT scanner will also be installed. The institute will have two singleplane and one biplane angiography machines, four modular operation theatres and four heart-lung machines, according to the briefing.

CM visits residence of late former MNA Mahmood Bashir Virk Meanwhile, Chief Minister Maryam Nawaz visited the residence of late former MNA Mahmood Bashir Virk in Gujranwala and met his widow, sons, daughters and other family members to express her condolences over his death. The chief minister offered Fateha and prayed for the forgiveness of the departed soul and patience for the bereaved family. She paid tribute to the services rendered by Mahmood Bashir Virk for the country and the nation. Speaking on the occasion, CM Maryam Nawaz said that with the death

Continuity in policy essential for Pakistan’s progress: Azma Bokhari LAHORE

STAFF REPORT

Punjab Minister for Information and Culture Azma Bokhari has said that policy continuity is essential for taking Pakistan forward. She said that Chief Minister Punjab Maryam Nawaz Sharif’s clear stance is that governments may change, but the national vision and policies aimed at public welfare should not change. Azma Bokhari said Pakistan’s development is not the responsibility of any single province, government or political party; rather, it is a shared responsibility of all. Policies formulated for the country’s development and public welfare should not be sacrificed to political changes. The Information Minister said that if a policy introduced today is abandoned or changed tomorrow merely because of a political change, the country cannot move forward. Pakistan needs a consistent national

Finance Minister Meets NBP Chairman, Discusses Banking Sector Priorities

KARACHI Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb visited National Bank of Pakistan’s Head Office in Karachi on Thursday and met Mr. Imran Sarwar, President, NBP. At this occasion Mr. Naved A. Khan, Chairman NBP was also present.The Finance Minister congratulated Mr. Imran Sarwar on his appointment and conveyed best wishes for his new role. The meeting covered matters relating to the Bank as well as broader issues concerning the financial sector.President NBP briefed the Minister on NBP’s initiatives and performance, including its efforts to promote and support women’s Financial Inclusion economic participation, digital transformation and Small and Medium-sized Enterprises (SMEs). He also apprised the Minister of the Bank’s efforts to improve customer services and facilities.The two sides exchanged views on the role of the banking sector in supporting the country’s financial and economic priorities.

Domestic cement despatches up by 7.35% during Sep-26, exports flat Q1 domestic despatches up 7.79%, exports down 11.32% ISLAMABAD

STAFF REPORT

vision and continuity of policies instead of short-term political agendas. She said that for national development, it is essential to ensure continuity in policies concerning public welfare, economic development and the national interest, irrespective of changes in governments.

Zong Makes History in Asia with Double Win at Asian Experience Awards 2026

KARACHI STAFF REPORT

of Mahmood Bashir Virk, PML-N President Muhammad Nawaz Sharif had lost a loyal companion, while she had been deprived of the affection and guidance of a caring elder. She said Mahmood Bashir Virk’s services for the Pakistan Muslim LeagueN would always be remembered. He remained loyal to the party through good and difficult times, she added. The chief minister said Mahmood Bashir Virk was a caring elder and a valuable asset for the people and workers of Gujranwala. “May Allah enable Mahmood Bashir Virk’s son, Rashid Bashir Virk, to carry forward his father’s political legacy in the best possible manner,” she said, adding that the loss of parents could never be compensated throughout one’s life. The bereaved family, including Mahmood Bashir Virk’s widow and son Rashid Bashir Virk, thanked CM Maryam Nawaz for visiting them. Rashid Bashir Virk said they would always remember the support extended by Quaid Muhammad Nawaz Sharif and his daughter during their difficult time. Later, CM Maryam Nawaz also met members of the provincial assembly, party ticket-holders and party leaders at the residence of the late Mahmood Bashir Virk. The chief minister individually greeted the party leaders and lawmakers and inquired about their well-being. She discussed various matters with the lawmakers and party leaders and sought their suggestions and updates regarding their issues.

STAFF REPORT

Zong has won two prestigious honors at the Asian Experience Awards 2026, becoming the first Pakistani brand to be recognized at this regional platform. The landmark achievement reinforces Zong’s position as a leading Technology Services Enterprise and a brand built for the future - one that translates technology leadership into experiences that matter to people every day.At the award ceremony held in Singapore, Zong was recognized with the Pakistan Brand Experience of the Year [Telecommunications] award for its My5 Family Sharing Package Campaign, while it’s My Zong App Campaign won the Pakistan Digital Experience of the Year [Telecommunications] award. The recognition reflects Zong’s strategic focus on leveraging technology, connectivity, customer insight and artificial intelligence to deliver intelligent, seamless and future-ready experiences.The My5 Family Sharing Package reflects Zong’s commitment to developing relevant, inclusive and future-ready technology solutions for connected families.

Sindh Transgender Summit Calls for Urgent Rights Implementation

KARACHI: Legal Aid Society (LAS), in partnership with Gender Interactive Alliance (GIA), convened the Sindh Transgender Summit — "From Exclusion to Entitlement: Closing the Rights Gap for the Khawaja Sira Community in Sindh" — under the Aawaz II Programme, led by CARE Pakistan funded by UK International Development from the UK government.Bindiya Rana, Executive Director, GIA, opened the Summit as a platform for translating community struggle into institutional accountability. Arif Tabassum, Aawaz II Team Lead, CARE Pakistan presented the Aawaz II Programme context, followed by a 'Voices of Resilience' address by Sana Ahmed of GIA, and a theatre performance — "Stories from the Margins" — by Khwab-e-Raqs and Transcend Theatre, bringing lived realities to the stage.The Summit brought together Members of the senior officials from Social Welfare, Health, Education, Home, Labour, BISP/Ehsaas, NADRA, the Sindh Human Rights Commission, and the Sindh Commission on the Status of Women; Khawaja Sira community leaders from across Sindh; civil society organisations; and development partners including Foreign, Commonwealth and Development Office (FCDO) and CARE Pakistan. STAFF REPORT

According to the data released by All Pakistan Cement Manufacturers Association, local cement despatches by the industry during the month of Sep-26 were 3.788 million tons compared to 3.529 million tons in Sep-25, showing an increase of 7.35%. Export despatches were almost flat at 832,173 tons compared to 831,966 tons in Sep-25. Total cement despatches during Sep-26 were 4.621 million tons against 4.361 million tons despatched during the same month of last fiscal year, showing an increase of 5.95%.In Sep-26, total despatches by North based cement mills were 3.164 million tons cement showing a decline of 2.43% against 3.242 million tons despatches in Sep-25. South based mills despatched 1.46 million tons cement during Sep-26 that was 30.23% more compared to the despatches of 1.12 million tons during Sep-25. Against the domestic despatches of 3.021 million tons in Sep-25, North based cement mills despatched 3.164 million tons cement in domestic markets in Sep-26 showing an increase of 4.72%. South based mills despatched 624,833 tons cement in local markets during Sep-26 that was 22.98% more compared to the despatches of 508,077 tons during Sep-25.Compared to the exports of 221,252 tons in Sep-25, there were no exports from North based mills in Sep-26. Exports from South jumped by 36.26% to 832,173 tons in Sep-26 from 610,714 tons during the same month last year. During the first quarter of current fiscal year.

L’Oréal Pakistan Recognised for Sustainability Leadership at GCNP Sustainability Awards 2026

KARACHI STAFF REPORT

L’Oréal Pakistan has secured first position in the “Sustainability Award – Four Pillars of Excellence” category for small and medium sized enterprises at the Global Compact Network Pakistan (GCNP) Sustainability Awards 2026.This recognition reflects the alignment of L’Oréal’s operations and strategies with the ten universally accepted principles of the United Nations (UN) Global Compact in the areas of human rights, labour, the environment and anti-corruption, as well as its contribution to the UN Sustainable Development Goals (SDGs). L’Oréal Groupe has been a member of the UN Global Compact since 2003 and has been consistently recognised as a UN Global Compact LEAD company for embedding the SDGs into its core strategy.Rehan Saeed, Executive General Manager and CEO of L’Oréal Pakistan said: “L’Oréal believes in using beauty as a force for good. We will continue to empower women by building their capabilities, creating sustainable livelihood opportunities, and advocating for safe, inclusive spaces where they can thrive.”The Beauty for a Better Life training programme in Pakistan.

GOVT, OPPOSITION LEADERS HOLD HIGH STAKES TALKS OVER PTI LONG MARCH NEWS

ISLAMABAD

STAFF REPORT

HE first round of talks between the PTI-led opposition and the ruling coalition concluded on Friday with both sides agreeing to resume negotiations on Saturday in a bid to defuse political tensions ahead of the party’s planned Oct 4 long march. The meeting, chaired by National Assembly Speaker Ayaz Sadiq, brought government, PPP and opposition representatives to the negotiating table amid growing tensions over the PTI’s protest call demanding the release of party founder Imran Khan. According to a statement issued by the National Assembly Secretariat, the participants held detailed discussions on the prevailing political situation and exchanged views on matters of national importance. The government, PPP and opposition delegations presented their respective positions in a “constructive and cordial” atmosphere and stressed the need to resolve national issues through dialogue and negotiations. The second round of talks will be held at 2pm on Saturday in the National Assembly speaker’s chamber. Speaker Sadiq said he was “only playing the role of a mediator”, adding that his

JI opposes imposition of Governor's Rule or emergency in KP: Hafiz Naeem ISLAMABAD

STAFF REPORT

Ameer of Jamaat-e-Islami Hafiz Naeemur Rehman on Friday said that his party will not favour the imposition of Governor’s Rule or an emergency in the Khyber Pakhtunkhwa (KP) province. Talking with the media after a detailed meeting with Tehreek Tahaffuz-eAayan-i-Pakistan (TTAP) in Islamabad, Ameer of Jamaat-e-Islami Hafiz Naeemur Rehman said that his party will participate in the All-Pakistan Conference (APC) and also termed his

office was always open to negotiations. He maintained that dialogue was the only way to resolve political differences and that positions and offices were temporary. “Parliament is the only forum where solutions to issues can be found,” he said. The opposition delegation was led by Senate Opposition Leader Allama Raja Nasir Abbas and included PTI Chairman Barrister Gohar Khan, Amir Dogar, former National Assembly speaker Asad

meeting with leaders of Tehreek-eTahaffuz-e-Pakistan fruitful. The meeting was held at the residence of Vice Amir of Jamaat-e-Islami Mian Mohammad Aslam. Tahreek-eTahafuz-e-Pakistan delegation comprised Barrister Gohar, Allama Nasir Abbas, Asad Qaiser, and Mustafa Nawaz Khokhar. The Jamaat-e-Islami delegation, headed by Hafiz Naeemur Rehman, also included Liaquat Baloch, Mian Mohammad Aslam, and Nasrullah Randhawa. The participants also discussed the overall political situation in the country.

Qaiser and PTI Secretary General Salman Akram Raja. The government delegation comprised Minister for Kashmir Affairs and Gilgit-Baltistan Amir Muqam, Adviser to the Prime Minister on Political Affairs Rana Sanaullah, Interior Minister Mohsin Naqvi, Minister of State for Interior Tallal Chaudhry and Parliamentary Affairs Minister Tariq Fazal Chaudhry. PPP Senator Sherry Rehman and MNAs Syed Naveed

Qamar and Ejaz Hussain Jakhrani also participated. The talks come as the PTI remains committed to holding its Oct 4 march, while federal ministers have warned that the Centre could consider governor’s rule or emergency in Khyber Pakhtunkhwa in view of the province’s security situation and the planned protest. The opposition has warned the government against taking such a step, saying it could have serious consequences. PTI urged to call off march Speaking after the meeting, PPP Senator Sherry Rehman said her party believed political disputes should be resolved through negotiations. She said PPP Chairman Bilawal Bhutto-Zardari had already made the party’s position clear and maintained that the PTI should call off the march unconditionally rather than merely postpone it. “We will meet tomorrow. We will try to conclude this by tomorrow,” she said. Asked about the opposition’s reported demand for a meeting with Imran Khan, Ms Rehman said she could not comment but added that the opposition had sought time and its request should be respected. Bilawal later welcomed the decision by the government and PPP to jointly engage with the opposition, saying political problems required political solutions.

Saturday, 3 October, 2026

PRAYER TIMINGS FAJR SUNRISE

ZUHR

ASR MAGHRIB ISHA

5:58

1:30

4:30

Govt raises petrol by Rs2.10, diesel by Re0.30 per litre 5:30

5:50

7:45

PROFIT

WEB DESK

The federal government has increased the price of petrol by Rs2.10 per litre to Rs392.76 and high-speed diesel (HSD) by Re0.30 to Rs399.64 per litre, effective from October 3 to October 5, 2026. The Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices under the federal government’s petroleum pricing mechanism, according to an announcement by the Petroleum Division. Petrol has been increased from Rs390.66 to Rs392.76 per litre, while HSD has risen from Rs399.34 to Rs399.64 per litre. The Petroleum Division said the revision reflected international market movements, including changes in Platts rates, premiums and incidentals. In the previous revision, effective October 2, the government increased petrol by Rs3.26 per litre to Rs390.66, while reducing HSD by Rs1.01 to Rs399.34 per litre. The latest increase comes as international oil prices fell sharply on Friday following reports of talks in Europe over additional diesel and crude stock releases, easing concerns over tight global energy supplies. Brent crude fell $3.06, or 3%, to $99.25 a barrel at 1409 GMT, while US West Texas Intermediate (WTI) dropped $3.95, or 4.25%, to $88.92 a barrel. Brent was down about 4.7% for the week, while WTI had declined around 3.7%. European gasoil futures, a benchmark for diesel prices, fell about 4.3% to $1,386.75 per metric ton.

Punjab CM seeks 5-year terms for performing governments, stresses policy continuity LAHORE

SALEEM JADOON

Punjab Chief Minister Maryam Nawaz has called for governments that perform well to be allowed to complete their five-year terms, saying the lack of policy continuity in Pakistan remains a major hurdle to development and that good governance and effective performance are essential to tackling internal security threats. Addressing a delegation of the National Command Authority Senior Officers Leadership Course here on Thursday, she said Pakistan’s “excellent image and new face” had emerged before the world during its recent war with India, adding that the army and other security institutions were rendering valuable services for the country’s defence. “We are Pakistanis first, regardless of whether we belong to Punjab, Khyber Pakhtunkhwa, Balochistan or Gilgit,” she said, stressing the need for continuity in national policies. She said Punjab’s governance standards had improved because the Pakistan Muslim League-Nawaz had remained in government in the province for longer periods. While claiming that terrorism had been brought under control in Punjab, she acknowledged that the threat had not disappeared and said the provincial government remained prepared for possible attacks. The chief minister said the province had previously had around 70 areas regarded as “no-go areas”, but claimed that there was no such area now. “I am responsible for the safety of 140 million people, so I had to take decisions that had not been taken before,” she said. She said the government had strengthened security infrastructure, particularly in border areas, by establishing fortified check posts and providing weapons and night-vision cameras. She also highlighted round-the-clock surveillance to detect terrorist activity. The chief minister said the Punjab government had established separate groups for administration and law and order, with special attention being given to crimes against women and children. She said the government had dismissed around 1,000 police and revenue officials as part of measures against corruption and claimed that sustained action had created a fear of the law among officials demanding or accepting bribes. On policing and surveillance, CM Punjab said the Safe City Authority, initially established in Lahore during the tenure of former chief minister Shehbaz Sharif, was now operating in 40 districts. Cameras were being used not only for security monitoring but also to identify garbage and other civic problems, she added. The chief minister said the government had established virtual police stations for women unable to visit police stations, particularly victims of domestic violence, claiming that hundreds of thousands of cases had been dealt with through the system.

Seven terrorists killed in North Waziristan IBO PESHAWAR

STAFF REPORT

Security forces killed seven terrorists during an intelligence-based operation (IBO) in the Eidak area of North Waziristan, state-run Radio Pakistan reported on Friday, citing security sources. According to the sources, security forces conducted the operation against members of Fitna al-Khawarij, pursuing the militants with determination and combat skills before destroying their hideouts. Fitna al-Khawarij is the term used by the state for terrorists affiliated with the banned Tehreek-i-Taliban Pakistan (TTP). President Asif Ali Zardari and Prime Minister Shehbaz Sharif praised the security forces for the successful operation. President Zardari commended the forces’ efforts under Azm-i-Istehkam to eliminate terrorism and establish lasting peace in the country. In his message, Prime Minister Shehbaz said systematic operations against terrorists reflected the professional capabilities of the security forces as well as the nation’s resolve to combat militancy. He said the nation was proud of the armed forces and that the performance of security forces and lawenforcement agencies would help ensure peace and security. The prime minister reiterated that the nation stood alongside the security forces in thwarting what he described as the “nefarious designs” of Fitna al-Khawarij.

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