In partnership with
Profit
Wednesday, 4 November, 2026 | 23 Jumada al-Awwal, 1448
Rs 20.00 | Vol XVII No 221 | 8 Pages | Lahore Edition
AMERICANS GO TO MIDTERM POLLS IN VOTE WIDELY SEEN AS REFERENDUM ON TRUMP PRESIDENCY g
g
VOTERS DELIVER VERDICT AMID RISING LIVING COSTS, FUEL PRICES AND PROLONGED IRAN CONFLICT
g
JUSTICE DEPARTMENT DEPLOYS 1,000 MONITORS ACROSS ALL 50 STATES AMID ELECTION INTEGRITY CONCERNS
g
A
WASHINGTON/ISLAMABAD
DEMOCRATS PROJECTED TO WIN HOUSE, WHILE SENATE RACE REMAINS COMPETITIVE
TRUMP WARNS HE COULD VETO EVERYTHING IF REPUBLICANS LOSE CONTROL OF CONGRESS
SALEEM JADOON/AGENCIES
MERICANS went to the polls on Tuesday in a midterm election widely seen as a nationwide referendum on President Donald Trump, with the outcome potentially wresting control of Congress from his Republican Party and imposing significant constraints on the remaining two years of his presidency. Polls pointed to a Democratic majority in the House of Representatives, with the party also having a chance of capturing the Senate, amid voter discontent over an unpopular president, soaring energy costs and the prolonged conflict with Iran. A Republican defeat in the House would give Democrats the power to block Trump's legislative agenda and launch wide-ranging investigations into his administration. Losing the Senate would also threaten his ability to secure confirmation for Supreme Court justices and senior government appointments. Donta Comer, a 38-year-old project manager from an Atlanta suburb, told AFP that he had “voted for mostly Democratic candidates”. “It’s just about the cost of living, gas prices, those kind of things,” Comer said. “It needs to change for the everyday person and I’m an everyday person.”
Trump, meanwhile, defended his record in a final television phone-in appeal to voters on Tuesday, claiming that his immigration crackdown, war on Iran and tariff policy had helped rebuild the country. “We have to keep America great. We’re great now. We were terrible two years ago,” Trump told ‘Fox & Friends’. All 435 seats in the House of Representatives and 35 of the Senate’s 100 seats were up for grabs, alongside governorships in 36 states. Democrats needed a net gain of just three seats in the House and four in the Senate to take control of both chambers.
At UN, Pakistan calls for global action against Islamophobia, digital censorship, disinformation ISLAMABAD
STAFF REPORT
Pakistan called for stronger international action against Islamophobia, disinformation and censorship, warning that the growing influence of global technology giants over online discourse was threatening freedom of expression, particularly in conflict zones and territories under foreign occupation. Addressing the UN General Assembly’s Fourth Committee during a debate on information, Pakistani diplomat Amanat Ali stressed the need for greater international cooperation to safeguard the integrity of information in the digital space. He cautioned that emerging technologies, if misused, could become powerful tools for manipulating public opinion, deepening divisions and eroding public trust. “We must ... address the growing concentration of influence among multinational technology corporations and digital platforms, whose opaque algorithms and content policies increasingly shape public discourse,” Ali said, according to a statement issued by Pakistan’s UN mission. He warned that misinformation, disinformation and hate speech were increasingly being exploited to polarise societies, manipulate public opinion and undermine public confidence, particularly in situations involving armed conflicts and foreign occupation. “Internet shutdowns, censorship, digital surveillance and restrictive media laws are employed to suppress legitimate voices, distort realities and delegitimize struggles for fundamental rights and self-determination,” he said. The warning comes amid mounting international debate over the power of digital platforms to shape public opinion, the spread of misleading information during conflicts, and the challenge of balancing governments’ authority to regulate online content with the protection of fundamental rights. Against this backdrop, Pakistan urged the international community to intensify efforts to combat Islamophobia, racism and xenophobia, cautioning that the spread of hatred and intolerance posed broader risks to an already polarised global information environment.
Trump returned to the White House last year promising to bring down prices. However, inflation, tariffs and rising fuel costs linked to the Middle East conflict have continued to put pressure on American households. The 80-year-old president's approval rating has remained near the low 30s. In the suburbs of Atlanta, retired teacher Jane Callum, 77, was among Democrats campaigning for Senator Jon Ossoff, who described the contest as a watershed moment for the country's future. “I really feel an obligation to do everything that I possibly can to change
the direction that our country is going in now, and put it more on the path to democracy and away from autocracy,” she told AFP. Economic discontent Republicans, however, maintained that Trump's tax cuts and tough stance on immigration would benefit voters, while portraying Democratic candidates as radical left-wing socialists. The message appeared to resonate with Daryl Ruley, an 84-year-old voter in Austin, Texas. “A lot of today’s younger people think socialism is the way to go,” Ruley told AFP. “They don’t understand history if they believe that’s the case.” At his final public campaign appearance on Monday, Trump devoted little attention to the midterm elections, instead delivering a rambling account of his troubled renovation project involving Washington's Reflecting Pool. “This is the last day before the midterm elections, the most important midterm I believe in our lifetime,” he said, 26 minutes into his speech, before quickly returning to the renovation project. Senate Democratic leader Chuck Schumer described Trump's remarks as a “pathetic closing message”. Some Republican supporters remained confident of victory. “We’re going to win.
CONTINUED ON PAGE 03
Govt, JI agree to continue ‘candid discussions’ on scraping petroleum levy ISLAMABAD
STAFF REPORT
The government and Jamaat-i-Islami (JI) on Tuesday agreed to continue consultations over the coming days to devise a mechanism for reducing the petroleum levy and providing relief to the public, while the party claimed that negotiations had entered their final stage. According to the Foreign Office (FO), Deputy Prime Minister and Foreign Minister Ishaq Dar held a meeting with a JI delegation, led by its Vice Emir Liaqat Baloch, to discuss petroleum prices and possible measures to ease the financial burden on ordinary citizens.
“The government and Jamaati-Islami (JI) held [candid discussions] on practical measures to provide relief to low-income citizens in petroleum prices,” the FO said in a post on X. The two sides discussed practical measures to provide relief to the common man, with particular emphasis on reducing the economic burden on low-income households, the statement added. Both sides agreed to continue consultations over the coming days to formulate a way forward on energy pricing and public relief. Last week, following a meeting with Prime Minister Shehbaz Sharif, the government and JI had agreed to constitute a bipartisan committee to recommend meas-
ures for expanding the ongoing fuel relief scheme and providing further concessions in response to the party's demand for abolishing the petroleum levy. JI had also warned of resuming its postponed march to Islamabad by mid-November if the government failed to announce substantial relief for the public. During Tuesday's meeting, DPM Dar reiterated the government's commitment to prioritising public welfare and facilitating ordinary citizens amid global economic challenges, according to the FO statement. He also emphasised that sustained crossparty dialogue remained essential to addressing national economic challenges effectively.
CONTINUED ON PAGE 03
Seventeen militants killed, soldier martyred in two Balochistan operations RAWALPINDI STAFF REPORT
Security forces killed 17 militants in two separate intelligence-based operations in Balochistan, while one soldier was martyred during the clashes, the military said. The operations were carried out after intelligence indicated the presence of militants in the targeted areas. Security forces engaged the militants during the operations, killing 17 of them. Weapons, ammunition and explosives were also recovered from those killed. The military said the militants were involved in attacks against security forces, law enforcement agencies and civilians. During the exchanges, one Pakistan Army soldier was martyred. Sanitisation operations were launched in the affected areas to locate any other militants who may still be pres-
ent. The military said counterterrorism operations would continue across Balochistan as part of efforts to eliminate militant networks operating in the province.
Pakistan successfully tests indigenous Fa'az air-to-air missile ISLAMABAD
STAFF REPORT
Pakistan has successfully conducted the flight test of its first indigenously developed Fa'az air-to-air missile, marking a significant milestone in the country’s aerospace and defence capabilities, the military’s media wing said on Tuesday. According to the Inter-Services Public Relations (ISPR), the missile features a state-of-the-art terminal guidance system and can engage enemy aerial targets at extended ranges. The successful test is expected to enhance the operational flexibility of the Pakistan Air Force (PAF) and further strengthen the country’s overall defence posture, the statement said. It described the achievement as evidence of the technical maturity, innovation and growing selfreliance of Pakistan’s defence industry. Senior officers of the armed forces, along with scientists and engineers involved in the missile’s development, witnessed the flight test. President Asif Ali Zardari, Prime Minister Shehbaz Sharif, Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir, and the services chiefs congratulated the scientists and engineers on the successful test. The development follows the Pakistan Army’s successful test of the extended-range variant of the Fatah-2 ballistic missile on October 13, 2026. The Fatah-2 Extended Range (ER) weapon system is equipped with advanced navigation and state-of-theart avionics, according to the ISPR. The military’s media wing said the missile could engage targets with high precision and penetrate enemy missile defence systems through its “unique trajectory and manoeuvrability features”. Its extended range would further enhance the Pakistan Army’s reach and its capability to strike targets deep inside enemy territory, the statement added.
ATC grants bail to Imaan Mazari, Hadi Chattha in road blockades, scuffle with police case ISLAMABAD
STAFF REPORT
An Anti-Terrorism Court (ATC) in Islamabad has granted bail to Imaan Mazari and Hadi Ali Chattha in a case involving road blockades and a scuffle with police. ATC Judge Abul Hasanat Muhammad Zulqarnain heard the case, during which police submitted the case record before the court. During the hearing, state counsel Ali Azad informed the court that the record had been received that day. In response, Judge Zulqarnain remarked that he would have shown them what would happen if the record had not been produced even that day.
Two policemen martyred, one injured in attack on polio security in Mohmand
MOHMAND: Two policemen were martyred and another was injured in a tragic incident in the Pandiyali Tehsil of Mohmand on Tuesday morning, after unidentified assailants opened fire on a team guarding an anti-polio drive. According to police, the attackers targeted three policemen during the firing spree, martyring two of them on the spot. The third officer sustained injuries in the attack. Rescue 1122 teams transported the deceased and the injured officer to Ghallanai Hospital in Mohmand. Federal Interior Minister Mohsin Naqvi strongly condemned the attack on the security personnel. He paid tribute to the martyred policemen, expressed deep sympathy with their bereaved families, and prayed for the speedy recovery of the injured officer. STAFF REPORT
Pakistan-Saudi-Türkiye defence pact reflects people’s aspirations, says Yousaf ISLAMABAD
STAFF REPORT
Federal Minister for Religious Affairs Sardar Muhammad Yousaf on Tuesday said the trilateral defence accord signed by Pakistan, Saudi Arabia and Türkiye this year reflected the aspirations of the Pakistani people, reaffirming that Riyadh had always stood by Pakistan like an elder brother during difficult times. The minister was talking to Saudi Ambassador to Pakistan Dr Rajeh Tami Albugamy in Islamabad, where the two discussed bilateral relations and ways to further strengthen ties between the brotherly countries. Yousaf also congratulated the ambassador on his appointment to Pakistan. “Saudi Arabia had stood by Pakistan like an elder brother in difficult times,” Yousaf
was quoted as saying in a statement issued by his ministry. He said the Makkah Accord reflected the sentiments of the people and that Pakistan’s bond with the Haramain Sharifain [Two Holy Mosques] would remain eternal. The minister appreciated the Saudi government’s exemplary measures to improve Hajj arrangements and expressed hope that Albugamy’s appointment would further strengthen the longstanding fraternal relations between the two countries. Pakistan, Türkiye and Saudi Arabia signed the trilateral defence pact in Makkah in August amid heightened regional tensions. Under the agreement, an attack against any one of the three countries would be treated as an attack against all three. The defence accord was signed against the backdrop of escalating tensions in the Middle
East following the United States-Iran war. The United States has carried out intermittent strikes against Iran since February, while Iran has targeted US interests as well as energy and civilian infrastructure in countries across the region. For his part, Albugamy appreciated the hospitality extended by the Pakistani people and said the Saudi leadership attached special importance to serving the Two Holy Mosques, according to the Pakistani religious affairs ministry. He also said that a focal person was being designated to facilitate faster and improved services for Umrah pilgrims visiting Saudi Arabia. “The meeting reaffirmed the resolve to further consolidate the longstanding fraternal relations between Pakistan and Saudi Arabia and strengthen cooperation in religious affairs,” the ministry added.
–, Saudi Arabia agree to further media cooperation ISLAMABAD
STAFF REPORT
Pakistan and Saudi Arabia have agreed to further strengthen cooperation in information, broadcasting, media and cultural sectors, with a focus on promoting tourism and people-topeople contacts. The understanding was reached during a meeting between Federal Minister for Information and Broadcasting Attaullah Tarar and Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki's successor, Raje bin Tami Al-Buqami, in Islamabad on Tuesday. During the meeting, Tarar welcomed the Saudi envoy and congratulated him on his
appointment to Pakistan. The information minister said relations between Pakistan and Saudi Arabia were reaching new heights, adding that there were vast opportunities for cooperation in media, culture, drama, music, tourism and people-to-people exchanges. He said the relationship between the two countries was rooted in generations of historical, religious and public ties and extended beyond diplomatic and political cooperation. Tarar also highlighted the importance of the defence cooperation agreement between the two countries, describing it as a reflection of their strong strategic partnership.
02 NEWS
SINDH'S $3.85B WORLD BANK PORTFOLIO FACES DELAYS AS DISBURSEMENTS LAG
S
PROFIT
web Desk
INDH'S $3.85 billion World Bank-funded development portfolio is facing implementation delays, with disbursements during FY27 reaching only $43.2 million against an annual target of $381.2 million, according to a review meeting chaired by Chief Minister Syed Murad Ali Shah and World Bank Country Director Bolormaa Amgaabazar on Monday. The meeting reviewed 12 active operations, including 11 investment project financing operations and one programme-for-results operation, with total commitments of $3.849 billion. Of this amount, $2.334 billion has been disbursed,
Pakistan's first biomass energy demonstration plant becomes operational in Sindh
g
while the FY27 stretch target stands at $434.2 million. The chief minister directed relevant departments to accelerate implementation, address administrative and financial bottlenecks, strengthen coordination and meet agreed deadlines. The $240 million Karachi Water and Sewerage Services Improvement Project-2 (KWSSIP-2) was reviewed, particularly the K-IV associated facilities. Environmental and social documents have been submitted to the World Bank for clearance, while the resettlement survey contract is expected to be signed on December 5. The census and
PROFIT
News Desk
Pioneer Cement Limited has commissioned and energised a 28.265-megawatt (MW) solar power plant at its manufacturing facility in Chenki, District Khushab, Punjab, and expanded the project's planned capacity to 31 MW, with the additional capacity expected to become operational within the next month. In a notice submitted to the Pakistan Stock Exchange (PSX) on November 3, 2026, the company announced the completion of the solar project and said the additional capacity would be energised within a month. "Pioneer Cement Limited has successfully completed and energized its 28.265 MW Solar Power Plant at its manufacturing facility in Chenki, District Khushab, Punjab," the company stated. The company said the commissioning of the solar facility would allow environmentally sustainable power sources to meet approximately 45% of its annual electricity requirements. "With the commissioning of this solar project, environmentally sustainable power sources are expected to now meet approximately 45% of the Company’s annual power requirements," the notice stated. Pioneer Cement expects the project to lower electricity expenses and improve operational efficiency at its manufacturing facility. "This milestone is expected to significantly reduce power costs, improve operational efficiency and contribute positively to the Company’s profitability and sustainability objectives," the company said.
survey are scheduled from December 21, 2026, to February 20, 2027. Under the earlier KWSSIP, chlorination stations have been commissioned and handed over to the Karachi Water and Sewerage Corporation (KWSC), while the second phase of water-quality testing is under way. Water and sanitation works at Soba Nagar and Essa Nagri are expected to be completed by November 15 and December 31, respectively, while customer service centres are scheduled for inauguration by the end of November. The Karachi Mobility Project, including the Yellow Bus Rapid Transit corridor, reported sig-
nificant construction delays. The Taj Haider Bridge opened to traffic in October 2025, while dismantling of the old Jam Sadiq Bridge continues. Overall bridge construction progress stood at 73.9% against a planned 92.7%, with completion scheduled for March 29, 2027. Yellow Corridor Depot-1 recorded 17.57% progress against a planned 93.6%, while Depot-2 achieved 46.66% against a planned 100%. Under the Solid Waste Emergency and Efficiency Project (SWEEP), operations at Cell-1 of the Jam Chakro landfill began on October 19. The
K-Electric offers to pay Rs5.73b to PLL in nine instalments amid RLNG pricing dispute g
PROFIT
Pioneer Cement commissions 28 MW solar plant in Khushab, expands capacity to 31 MW
UTILITY SEEKS WITHDRAWAL OF BANK GUARANTEE ENCASHMENT NOTICES AND WAIVER OF LATE PAYMENT SURCHARGE, CLAIMS RS9.9B IN OUTSTANDING CREDITS approximately Rs5.729 billion. KE subsequently approached the Sindh High Court, which restrained PLL and the two banks from taking coercive action, including encashment of the SBLCs, through an order issued on October 19, 2026. The dispute concerns RLNG supplied during force majeure conditions, when PLL imported spot LNG cargoes at the government's direction alongside long-term supplies. KE maintains that PLL charged it entirely at spot LNG rates, although the government had agreed to implement a Unified/Weighted Average RLNG Pricing Mechanism to distribute costs among consumers and off-takers. The mechanism was approved by the National Coordination and Management Council on July 1, 2026, but KE says it has yet to be implemented. According to
PROFIT
MoNitoRiNg RepoRt
K-Electric (KE) has proposed paying Rs5.729 billion to Pakistan LNG Limited (PLL) in nine monthly instalments under protest, seeking withdrawal of demands to encash standby letters of credit (SBLCs) and waiver of late payment surcharge (LPS) amid an unresolved dispute over RLNG pricing, Business Recorder reported. In a letter to PLL, KE Chief Financial Officer Aamir Ghaziani offered monthly payments of Rs636.5 million from October 2026 to June 2027 against the price differential for RLNG supplied in May and June 2026. The proposal follows PLL's October 16 demands to Habib Bank Limited and Faysal Bank Limited to encash standby letters of credit worth
KE, it has already paid approximately Rs4.2 billion in excess based on the expected revised RLNG price and is awaiting a corresponding credit note. The utility also claims another Rs5.7 billion in outstanding credits relating to RLNG price notifications for supplies between February 2025 and April 2026, bringing its total claimed credits to approximately Rs9.9 billion. KE said the proposed instalment payments would be conditional on PLL withdrawing the SBLC encashment notices and confirming that no late payment surcharge would be imposed. The payments would remain subject to adjustment against the final amount determined under the agreed RLNG pricing mechanism, without admission of liability or prejudice to KE's position on the disputed charges.
Private sector shifts to net borrowing as bank lending reaches Rs87 billion g
SBP DATA SHOWS SHIFT FROM RS29 BILLION DEBT RETIREMENT LAST YEAR, WHILE CONVENTIONAL AND ISLAMIC BANKS CONTINUE TO RECORD NET REPAYMENTS bursements to these sectors. Despite the improvement in overall borrowing, lending remains limited, with banks yet to provide sufficient financing to support a broader recovery in private sector investment. SBP data showed that Islamic branches of conventional banks were the only banking segment to record positive net lending during the period, while conventional banks and standalone Islamic banks continued to report net debt retirement. Conventional banks recorded net debt retirement of Rs320 million, compared with Rs117 billion during the corresponding period last fiscal year. Islamic banks reported net debt retirement of Rs63 billion, compared with Rs25 billion in the same period
PROFIT
MoNitoRiNg RepoRt
Private sector borrowing from banks turned positive for the first time in the current fiscal year, reaching Rs87 billion between July 1 and October 23, 2026, compared with net debt retirement of Rs29 billion during the corresponding period last year, according to State Bank of Pakistan (SBP) data. The shift comes amid continued government efforts to increase bank lending to the private sector, particularly farmers, small and medium-sized enterprises (SMEs), and applicants under the Prime Minister's Apna Ghar housing scheme. The prime minister has again directed the Ministry of Finance to take action against banks delaying loan dis-
last year. Private sector borrowing and investment continue to face constraints from high financing costs, political uncertainty, security concerns in two provinces and the risk of a wider regional conflict. The SBP increased its policy rate by 50 basis points to 12% last week, raising borrowing costs for businesses and potentially limiting demand for new financing. Bankers and analysts expect further monetary tightening in the coming months, with average inflation during the first four months of the fiscal year remaining in double digits. The increase in interest rates comes as the government continues to press banks to expand lending to productive sectors, including agriculture, SMEs and housing.
PROFIT
Buying activity returned to the Pakistan Stock Exchange (PSX) on Tuesday, as investors responded to renewed diplomatic efforts to resolve the Middle East conflict and a decline in international oil prices, despite reports of US strikes in Iran’s Qesham island on Monday night. According to the PSX website, the market opened on a bullish note, with the benchmark index gaining more than 1,800 points during the opening minutes of trading. The positive momentum continued as the session
Wheat prices fall after imports, but flour and roti remain costly for consumers PROFIT
web Desk
Open-market wheat prices have declined from Rs140 to Rs130 per kilogram following the arrival of a 51,000-tonne shipment at Karachi port on October 28, with another vessel carrying 58,132 tonnes expected on Tuesday, but consumers continue to pay high prices for flour and roti, particularly in Karachi and Hyderabad, where rates remain among the highest in the country. However, prices have fluctuated since the arrival of imported wheat, with wholesalers quoting an average rate of Rs132 per kg and flour millers reporting prices between Rs136 and Rs137 per kg. Flour millers, who had earlier increased prices by Rs20 per kg, subsequently reduced rates ahead of the wheat shipment. Current mill prices of flour No 2.5, maida and fine flour stand at Rs156, Rs168 and Rs171 per kg, respectively, compared with Rs161, Rs173 and Rs176 during the first week of October. Despite the reductions, retail flour prices remain unchanged. Flour No 2.5 continues to sell for Rs170-180 per kg, while maida and fine flour are priced between Rs185 and Rs190 per kg. Prices of chapati, naan, sheermal/taftaan and qulcha also remain unchanged at Rs20, Rs30-35, Rs100110 and Rs90-100, respectively. Tandoor operators attributed the lack of price reductions to high liquefied petroleum gas (LPG) costs, currently ranging between Rs500 and Rs550 per kg, which have offset the benefit of cheaper flour. Market stakeholders said retailers had not passed on lower wheat prices to consumers despite the decline in the wholesale market. They also warned that the planned import of 750,000 tonnes of wheat would be insufficient to meet domestic requirements, estimating a supply shortfall of more than two million tonnes before new crops from Sindh and Punjab arrive between March and May. They urged the government to allow private traders and flour millers to import wheat to stabilise prices, noting that workers earning less than Rs50,000 were spending most of their income on food, leaving limited resources for education and other household expenses. According to the SPI for the week ending October 29, a 20kg flour bag costs up to Rs3,540 in Karachi, compared with an average of Rs3,200 in other parts of the country. Hyderabad recorded the second-highest prices, ranging from Rs3,360 to Rs3,400 per 20kg bag, while rates in Islamabad, Rawalpindi, Lahore and other major Punjab cities ranged between Rs2,200 and Rs3,333.
'Fuel of the poor': LPG prices soar in Pakistan, forcing rickshaw drivers to cut meals PROFIT
ReuteRs
LPG prices have surged 56% since the closure of two Iranian border crossings on October 17, forcing thousands of rickshaw drivers in Pakistan’s Lahore to cut back on meals as their daily earnings fall by more than half. For 13 years, Rashid Ali has driven a three-wheeled motorised rickshaw around Lahore. His day starts at 6 a.m. and sometimes does not end until midnight, but he was long able to make $6.50 a day — enough for his family's bare essentials. Now, with liquefied petroleum gas (LPG) prices surging, he doesn't even make half that. Ali, 33, is among thousands of Pakistani drivers who run their vehicles on LPG, which is sold in cylinders and mainly used for cooking and heating.
Majeed Ghauri, chairman of the Awami Rickshaw Union, calls it "the fuel of the poor." He said about 70% of its members' 43,000 auto-rickshaws and nearly 8,000 Qingqis — motorcycle-based three-wheelers that carry several passengers on set routes — run on LPG. LPG prices have surged since October 17, when two Iranian border crossings closed, halting imports, traders say, in the latest energy shock since the US-Iran war began in February. With Ali now lucky to make $3 a day, his family has cut back on meals, eating only twice a day. "Previously, when LPG was cheap, we could earn a decent income," Ali said. "Now, it's just not possible to get by on seven or eight hundred (rupees), is it?" Before the border closures, Pakistan imported about 7,000 metric tons of LPG
a day from Iran, the Pakistan LPG Association said. Traders said the price of a 12-kg cylinder jumped 56% within days of the closure to Rs 7,000, or about Rs 583 per kg in the open market. The Government of Balochistan, the southern province that borders Iran, cited security and smuggling for the decision; Iran's foreign ministry said technical issues were to blame. Iran's ambassador later said Iran had imposed no restrictions, including on LPG exports, and blamed changes in Pakistan's import paperwork. WALKING AWAY Ali pays Rs 600 a day to rent his rickshaw, filling up with gas four or five times a day, at Rs 300 to Rs 400 a time. As well as daily expenses, Ali also pays Rs 11,000 a month for his home and
PSX stages strong recovery amid hopes of Middle East de-escalation News Desk
remaining landfill cells and three garbage transfer stations at Sharafi Goth, Imtiaz and Gutter Baghicha are expected to be completed by November 30. The $196.7 million Sindh Integrated Health and Population Project (SIHPP) has signed all nine civil works contracts, with construction under way. However, reconstruction of 12 tehsil headquarters hospitals has faced delays due to site handover, tree clearance, electricity pole relocation and other location-related issues. Completion is expected by September 2027. The $292 million Sindh Water and Agriculture Transformation Project (SWAT), covering Akram Wah rehabilitation and agricultural support, was also reviewed. Under its agricultural flood emergency rehabilitation component, 249,861 farmers received payments, with disbursements completed in June 2026. The meeting also discussed the Sindh Barrages Improvement Project, covering the rehabilitation and operation of Guddu and Sukkur barrages. Under the Sindh Early Learning Enhancement through Classroom Transformation (SELECT) project, construction has been completed at 190 of 295 targeted schools, with 140 formally handed over with furniture.
ONLY $43.2M DISBURSED AGAINST FY27 TARGET OF $381.2M AS GOVERNMENT REVIEWS PROGRESS ON 12 PROJECTS COVERING TRANSPORT, WATER, HEALTH, EDUCATION AND FLOOD REHABILITATION
MoNitoRiNg RepoRt
Pakistan's first biomass energy demonstration plant has become operational in Sajawal, Sindh, under a $3.5 million project aimed at promoting sustainable energy, supporting rural livelihoods and reducing greenhouse gas emissions. Located in Pinnah Reserved Forest, the facility was jointly inaugurated by the United Nations Development Programme (UNDP) and the Sindh government. It is the first of four demonstration sites planned under the Global Environment Facilityfunded Promotion and Application of Sustainable Biomass Energy Technologies in Pakistan (PASBET) project. The five-year initiative, implemented by UNDP in partnership with the Ministry of Climate Change and Environmental Coordination, will promote sustainable biomass energy technologies across Sindh, Punjab, Balochistan and Khyber Pakhtunkhwa. According to UNDP, the facility will demonstrate how forest and agricultural residues can be converted into cleaner fuel while creating livelihood opportunities through pellet production, community nurseries and efficient cookstoves. UNDP Resident Representative Dr Samuel Rizk said the project demonstrated the potential to meet rural energy needs while protecting forest resources. The initiative also aims to support sustainable forest management and improve indigenous plantations.
Wednesday, 4 November, 2026 | LAHORE
progressed, with the KSE-100 Index trading at 168,299.99 points at 11:10 am, up 1,735.93 points, or 1.04%, from the previous close. Buying was witnessed across major sectors, including automobile assemblers, cement, commercial banks, engineering, oil and gas exploration companies, oil marketing companies (OMCs) and power generation. Market analysts attributed the recovery to improving sentiment over diplomatic developments in the Middle East, declining international oil prices and renewed investor interest following the market's correction in October. Analysts noted that lower international oil prices could ease Pakistan's import bill,
reduce pressure on the current account and help contain inflation. They also observed that investors were selectively returning to heavyweight stocks in banking, oil and gas exploration, and cement, where valuations appeared attractive relative to earnings following the October correction. However, analysts cautioned that the recovery remained dependent on geopolitical developments. On Monday, the PSX closed marginally higher as buying in select heavyweight stocks was offset by selling pressure in the refinery sector following the government's decision to absorb higher petrol import costs through a reduction in the petroleum levy.
The KSE-100 Index gained 154.81 points, or 0.09%, to settle at 166,564.07 points. Asian tech stocks came under fresh pressure on Tuesday as investors fretted over AI spending and earnings, while oil prices stabilised after the previous session's tumble ahead of the start of voting for the US midterm elections. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.4% at the lowest level since October 23, led by a decline of as much as 4.1% in South Korean shares. European futures fell 0.9%, German DAX futures slid 0.8% and FTSE futures were 0.2% lower. Taiwanese shares slid 3.3%, putting the
has two young children to support. Adding to his problems, passengers, he said, do not want to pay higher fares. "For a trip that should cost Rs 200 or Rs 250, they might only offer Rs 80, Rs 100, or Rs 150," Ali said. Passenger Mohammad Ramzan said when a driver asked 500 rupees for a ride in the city, he offered half that. When the driver declined, he walked away, he said. Inflation in Pakistan hit 9.6% in October, and the central bank last week raised interest rates to 12%, citing energy and wheat prices. Petrol hit a record 458 rupees a litre on April 3 and remains about 40% above its pre-war price. Back home at midday, Ali said his two boys still needed their lunch. He would go out again until late at night, he said, hoping to make enough to bring something for the children to eat at night.
local benchmark on track to confirm a technical correction after extending losses to 13.1% from a record high in early October. Shares in China fell 1.4%, with investors disappointed at the latest moves by authorities to shore up a market that is the year's weakest performer among major indexes. S&P 500 e-mini futures edged lower for a fourth consecutive day, off 0.1%, while Japanese markets were closed for a holiday. Oil prices edged up on Tuesday after a report that the United States had struck Iran's Qeshm Island, raising concerns about an escalation of the eight-month conflict and prolonged disruptions to Middle East oil supplies.
Wednesday, 4 November, 2026 | LAHORE
PETROL PRICE SLASHED BY RS5.45, DIESEL INCREASED BY RS3.68 FOR NOVEMBER 4
T
PROFIT
AHMAD AHMADANI
HE government has reduced the price of petrol by Rs5.45 per litre while increasing high-speed diesel by Rs3.68 per litre, bringing their prices to Rs369.06 and Rs398.88, respectively, for November 4, 2026. According to the Oil and Gas Regulatory Authority (OGRA), the ex-depot price of petrol has been reduced from Rs374.51 to Rs369.06 per litre, while the price of high-speed diesel (HSD) has increased from Rs395.20 to Rs398.88 per litre under the daily petroleum pricing mechanism. The reduction in petrol prices is expected to provide relief to millions of motorcycle users, private car owners and rickshaw operators who depend on petrolpowered vehicles for their daily transportation. Petrol, also known as Motor Spirit (MS), is primarily used in motorcycles, cars, auto-rickshaws and other light vehicles. Its
price directly affects household transportation expenses, particularly for middle- and lower-income families that rely on motorcycles for commuting to workplaces, educational institutions and markets. At the revised price, consumers purchasing 20 litres of petrol will save Rs109, while those buying 40 litres will benefit from savings of Rs218 compared with the previous price. Meanwhile, the increase in high-speed diesel prices carries wider economic implications because diesel is extensively used in Pakistan's transportation, agriculture and industrial sectors. Heavy commercial vehicles, including trucks, trailers and buses, predominantly operate on diesel. These vehicles are responsible for transporting essential commodities, agricultural produce, industrial raw materials and other goods across the country. Diesel is also widely used in tractors, harvesters, tube-well engines and other agricultural machinery. Consequently, changes in its price directly affect farmers' operating
expenses, including the cost of land preparation, irrigation and harvesting. The Rs3.68 per litre increase is expected to add to the operating costs of farmers, transport operators and businesses that depend on diesel-powered vehicles and machinery. Higher diesel prices can also increase freight transportation expenses, potentially adding pressure on the prices of food items, agricultural produce, construction materials and other essential commodities. However, the extent to which consumers face higher costs will depend on whether transport operators, suppliers and businesses pass on the increased expenses through higher freight charges, passenger fares and commodity prices. The latest revision in petroleum prices offers some relief to petrol consumers while increasing costs for diesel-dependent sectors. Its broader impact on inflation will depend on how the contrasting price movements translate into transportation, agriculture and supply-chain costs.
Pakistan must help build global financial technology, not just use it, says PVARA chief PROFIT
STAFF REPORT
Pakistan must move from being a consumer of global financial technologies to becoming an active contributor to the infrastructure, standards and innovation that will define the future of finance, Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, said at the PBA–LUMS Dialogue on Digital Assets and the Future of Banking. Speaking during a fireside conversation titled “Partner, Competitor, or Bystander?” with Zafar Masud, Chairman of the Pakistan Banks’ Association and President and CEO of Bank of Punjab, Saqib urged the banking industry to recognise the scale of the transformation taking place across global finance. “Bitcoin was the front door. The bigger transformation is the technology behind it, which is changing how value moves, how financial assets are held and how capital reaches businesses.” Highlighting developments at JPMorgan, HSBC, Standard Chartered and other international financial institutions, he said digital assets were increasingly being integrated into institutional payments, treasury management and capital
markets. “The real opportunity is not giving Pakistanis more assets to trade. It is giving more Pakistanis the opportunity to build assets, businesses and wealth.” Discussing Pakistan’s $41.6 billion annual remittance flows, Saqib highlighted the growing importance of reducing the costs associated with international transfers. Saqib said the changing economics have made the search for more efficient financial infrastructure increasingly important for the banking industry. He identified supervised, bank-led payment arrangements involving major Gulf remittance corridors as an opportunity worthy of examination, subject to regulatory coordination and appropriate safeguards. “The objective is not to move tokens faster. It is to ensure more of an overseas Pakistani’s hard-earned money reaches the family it was intended for.” BANKS URGED TO SUPPORT FINTECH INNOVATION Saqib encouraged bank presidents to establish deeper partnerships with universities, researchers, engineers and emerging technology companies. “The banks of tomorrow should not simply be customers of innovation. They should become launchpads for innova-
tors.” He suggested that banks could provide Pakistani founders with access to real business problems, technical expertise, mentorship and opportunities to test and demonstrate useful solutions within appropriate safeguards. “Imagine if every major Pakistani bank helped incubate the next generation of fintech builders. We would not simply be importing technology. We would be building companies capable of exporting it.” AI INVESTMENT AND REGULATORY SAFEGUARDS Saqib also said that AI is transforming how financial services are developed, delivered and secured. He pointed to AI’s growing applications in fraud detection, risk management, customer service, software engineering and operational efficiency. “AI is changing what a small team can build. New financial infrastructure is changing how that team can access customers, capital and global markets. Pakistan must bring these opportunities together.” He urged banking institutions to invest in AI capabilities, develop their existing workforce and strengthen collaboration with universities such as LUMS. “The greatest opportunity is not sim-
ply to use better technology. It is to produce the people who can build that technology.” He also emphasised the importance of coordination between PVARA, the State Bank and other relevant regulatory institutions within their respective statutory mandates. He said the adoption of new technologies must be accompanied by effective supervision, cybersecurity safeguards, consumer protection and institutional accountability. PAKISTAN'S ROLE IN GLOBAL FINANCIAL INFRASTRUCTURE Saqib drew attention to the historical development of international banking and payment infrastructure, noting that Pakistan largely became a user of major global financial networks established elsewhere. He said the emergence of digital assets, tokenisation and artificial intelligence presents Pakistan with an opportunity to participate earlier in the development of new financial capabilities. “When the world’s correspondent banking arrangements and major payment networks were taking shape, Pakistan was largely a user of systems designed elsewhere, rather than an architect of those systems.”
NEPRA closes proceedings against Saif Power over delayed synchronisation PROFIT
STAFF REPORT
The National Electric Power Regulatory Authority (NEPRA) has closed enforcement proceedings against Saif Power Limited over delays in synchronising its generating units following the nationwide power breakdown on January 23, 2023, ruling that the matter did not warrant a regulatory penalty, Business Recorder reported. The decision, issued under the NEPRA (Fine) Regulations, 2021, accepted the company's response to a show-cause notice dated December 5, 2024, and closed the case under Regulation 4(12). The proceedings followed NEPRA's investigation
into the blackout, which took approximately 20 hours to resolve. According to the regulatory record, electricity supply to Saif Power's bus bar was restored at 10:35pm on January 23. The National Power Control Centre (NPCC) instructed the company to synchronise its GT1 unit at 11:26pm and steam turbine generator (STG) at 12:50am on January 24. However, GT-1 was synchronised at 1:30am and STG at 1:08am, representing delays of two hours and four minutes and 18 minutes, respectively. NEPRA initially considered the delays a violation of the NEPRA Act, Generation Licensing Rules, 2000, and relevant Grid Code provisions. It sought an explanation on September 22, 2023, before issuing a showcause notice on December 5, 2024.
Saif Power argued that synchronisation requirements were governed by its Power Purchase Agreement (PPA), which already provided penalties for delays. It maintained that the power purchaser had penalised the company and that further action would amount to double punishment. The company also challenged the timing of the proceedings and attributed the delays to automated startup procedures and operational safety requirements. Following a hearing on August 8, 2025, NEPRA concluded that the existing contractual framework adequately addressed such deviations and that the available evidence did not justify an additional regulatory penalty. The authority also cited proportionality and consistency in handling similar cases arising from the same blackout before formally closing the proceedings.
Americans go to midterm polls in vote widely seen as referendum on Trump presidency CONTINUED FROM PAGE 01
As a matter of fact, we’ve probably already won,” Texas military veteran Yvonne Clouser told AFP. Republicans currently hold a 53-47 majority in the Senate, but the electoral battleground has expanded into states once considered reliably conservative, including Kansas, Texas, Iowa, Ohio and Alaska. Democrats also faced the challenge of defending competitive seats, including in Michigan, where a bitter internal party dispute saw Congresswoman Haley Stevens endorse Republican Mike Rogers instead of Democratic nominee Abdul El-Sayed.
Decision Desk HQ's final forecast projected that Democrats would secure 241 seats in the House against 194 for Republicans, while also giving them a narrower 52-48 majority in the Senate. Trump, who was due to watch the election results at the White House on Tuesday night, suggested that he could simply defy Democrats if his party lost control of Congress. “I veto everything,” he told a podcast on Monday, although he added that he might eventually reach agreements with Democrats. JUSTICE DEPARTMENT TO MONITOR ELECTIONS IN ALL 50 STATES More than 57 million Americans had already cast their ballots early before
NEWS 03
Tuesday, pointing to strong voter engagement. The campaign attracted more than $11 billion in political advertising, while billionaire Trump ally Elon Musk poured hundreds of millions of dollars into Republican political efforts. As polling stations close and results begin to emerge, concerns are expected to mount over whether Republicans will accept the outcome. Trump, who attempted to overturn his defeat in the 2020 presidential election, has repeatedly alleged widespread voter fraud and accused Democrats of cheating without providing evidence. His administration has intensified investigations into suspected non-citizen voting, although research and election officials indicate that such cases are exceedingly rare. The Justice Department, headed by a close Trump ally, has already filed a lawsuit seeking the potential blocking of certification of Alaska's Senate race if Republican incumbent Dan Sullivan narrowly loses. A court, however, rejected the effort on the eve of the election. The Supreme Court also rejected on Monday an emergency petition seeking to compel California to set aside mail-in ballots cast by more than 20,000 people on the grounds that they might not be American citizens. In a separate move, the Justice Department announced that it was deploy-
ing approximately 1,000 election monitors and observers across all 50 states, marking the first such nationwide deployment in its history. The expanded monitoring effort has raised questions about the federal government's role in elections, which are primarily administered by state and local authorities. The Justice Department is part of the executive branch headed by Trump, unlike the courts, which exercise an independent judicial function. The department described the deployment as “the largest election-monitoring effort in its history”, saying it was aimed at protecting voting rights, ensuring election integrity and promoting transparency. Assistant Attorney General Harmeet K. Dhillon, who heads the department's Civil Rights Division, said election integrity was a top priority for the administration. “Election integrity has been one of the top priorities for this Administration and this Division,” Dhillon said. The monitors are tasked with checking compliance with federal laws protecting voting rights, including the Voting Rights Act. Their responsibilities also include overseeing safeguards for voters with disabilities and enforcing laws prohibiting voter intimidation and suppression on the basis of race, colour, national origin or religion.
Acquirers withdraw plan to purchase up to 6.02% stake in Escorts Investment Bank PROFIT
STAFF REPORT
AKD Securities Limited has announced the withdrawal of a public announcement of intention (PAI) to acquire up to 6.02% of the issued paid-up share capital and control of Escorts Investment Bank Limited. In a notice dated November 2, 2026, submitted to the Pakistan Stock Exchange (PSX), AKD Securities said the acquisition proposal had been made on behalf of Mr Kamran Malik and Mr Sheikh Ali Baakza. The original public announcement of intention was issued on January 23, 2026, with the proposed transaction subject to regulatory approvals.
Govt, JI agree to continue ‘candid discussions’ on scraping petroleum levy CONTINUED FROM PAGE 01
Planning Minister Ahsan Iqbal, Adviser to the Prime Minister Rana Sanaullah, Special Assistant to the Prime Minister Tariq Bajwa, the finance secretary and the Petroleum Division's special secretary also attended the meeting on behalf of the government. TALKS OVER ABOLITION OF PETROLEUM LEVY ENTER FINAL STAGE Following the meeting with the government team, JI Vice Emir Liaqat Baloch claimed that negotiations between the government and his party over abolishing the petroleum levy and providing relief to the public had entered their final stage. Addressing a press conference in Islamabad, Baloch said both sides had acknowledged that abolishing the petroleum levy was essential, while the government had also agreed to extend relief to the agricultural sector and owners of vehicles up to 1,000cc. The ongoing relief scheme for owners of motorcycles, rickshaws and vehicles of up to 800cc was rolled out across the country on September 17. Prime Minister Shehbaz Sharif had announced the subsidies to ease the financial burden on the public amid rising fuel prices due to the situation in the Middle East.
s
, d
04 COMMENT
How and why Arab Americans will vote in 2026
Wednesday, 4 November, 2026
Inflation still high
C
Though CPI inflation is still high, it is back below double digits
PI inflation at 9.6 percent in October showed that there are still inflationary pressures because of the Middle East crisis, but below the 10.3 percent recorded in September. That was the point at which inflation, which had peaked above 20 percent in 2-24, went into double-digit territory for the first time in a long time. It prompted the State Bank of Pakistan’s Monetary Price Committee to raise the base rate 50 basis points, in its recent meeting. Though inflation is not yet out of control, it remains an acute danger, because of the Middle East war. While its main impact is through the rise in the global oil price, there is also the inflationary impact of the fertiliser and aluminium shortages. These have not become problems yet, but may prove crucial, for the fertilizer has a direct impact on agricultural production, and the aluminium on the construction industry. The government ;s struggling manfully with the inflation issue, making the oil refining industry pick up part of the tab for the rising oil price. To keep matters in perspective, the inflation rate will also depend on the inflation in the developed economies, and that is being driven up by the international oil price. Therefore, the inflationary effects of the war must be combated by the government by proactive diplomacy. It seems that the US midterm election, which will be over by today, should unleash a new round of either conflict or diplomacy. Pakistan is already in the midst of peace efforts, but it should remember that its success or failure will not determine just its future standing in the world community, but is also a matter of the national interest. However, avoiding the raising of prices is politically not the same as lowering them, so the government will have to depend on the credit it might get from keeping the beast of inflation tamed. At the same time, the government desperately needs the economy to start growing, because there is no point politically in controlling inflation if jobs are thus lost and disposable incomes shrink. However, because the main driver of inflation, oil prices, is out of the government’s control, and is in fact getting worse the longer the war continues, the government still runs the risk of seeing all its hard work come to naught.
The genocide in Gaza has a role
O
WASHINGTON WATCH Dr JAmeS J ZOGby
N Election Day, Arab Americans will overwhelmingly vote for Democrats over Republicans running in Senate and Congressional campaigns across the country. The actual margin is 59 percent for Democrats versus just 26 percent for Republicans. This dramatic swing back to the Democratic Party is just one of the findings of the most recent poll of Arab American voters commissioned by the Arab American Institute and conducted by John Zogby Strategies. AAI and JZS have been polling Arab American voters for over three decades and in all that time the community has favored Democrats, if only by a small margin. The Iraq war and the Bush administration’s
widespread repressive policies against Arab and Muslim Americans and immigrants so significantly changed attitudes toward the two parties and their candidates that for more than a decade and a half Arab Americans ended up voting for Democrats by a two to one margin. This changed in 2024 as a result of the Biden Administration’s acquiescence to and, at times, overt support for Israel’s genocidal war on Gaza. The community was so angered by Democrats’ complicity in that war that support for Democrats declined, while Republican numbers rose. Democrats still had the edge, but in that November’s presidential election a significant number of Arab Americans voted for third party candidates, while many didn’t vote at all. What accounts for the flip back toward the Democratic Party’s candidates in 2026? The recent AAI/JZS poll points to a number of factors; chief among them are the policies and behaviour of President Trump. Eighty-two percent of Arab Americans say they have personally experienced economic hardship due to the rising costs of health care, utilities, groceries, or gas prices. Ninety percent say that the war in Gaza is still important in determining their vote (and will remain so as they choose a presidential candidate in 2028). More than two-thirds say they have experienced discrimination because of their heritage, and an even greater percentage fear this may increase in the future. In this context, President Trump’s antiMuslim assault on Abdul El-Sayed, the Arab American Democratic Senate candidate in Michigan, has only added fuel to the dangerous fires of hate. Finally, it’s important to note that, as our polling has demonstrated going back to a study issued in
2001, “What Ethnic Voters Really Think,” Arab Americans, like other ethnic immigrant communities, while holding moderate views on some cultural issues, are quite liberal when addressing economic and governmental policies. This is borne out in the most recent AAI/JZS poll where 56 percent of Arab Americans say they are more aligned with the social and economic views of the Democratic Party versus only 28 percent who say they feel more aligned with the Republican Party. And when asked to describe their political ideology— ranging from MAGA Republican on the right to Democratic Socialist on the left— only 18 percent indicate a right-leaning ideology as opposed to 47 percent who are left-leaning. Thirty-one percent describe themselves as moderate. What is especially fascinating about the results in this poll is the extent of convergence in the views of the diverse component groups within the community. While there are some understandable variations in the responses given to a few questions, the most important demographic subgroups (Christian, Muslim; country of origin; immigrant or native US-born) all express concern about the economic situation, the war in Gaza, and the fear of discrimination resulting from this election’s hateful anti-Muslim, anti-Arab hate speech. Sectarian and national conflicts may afflict countries and regions across the Middle East, but Arab Americans have found their way to coalesce around shared heritage and issues of concern. It is this convergence that is the cornerstone of community building. The writer is President, Arab American Institute
Dedicated to the legacy of late Hameed Nizami
Arif Nizami (Late) Founding Editor
Where do Pakistan’s toll billions go? M. A. Niazi
Babar Nizami
Editor Pakistan Today
Editor Profit
critical arterial routes, including the M-1, E-35, 90 percent of its passenger and freight traffic, Are we getting our monets’ worth? M-14, M-3, M-4, and M-5. The logistics and degraded infrastructure acts as a hidden tax. In-
E
Dr ZAfAr KHAN SAfDAr
VERY time a motorist stops at a toll plaza in Pakistan, the state enters into an implicit contract with the citizen. The promise is simple: in exchange for an upfront user fee, motorists can expect a safe journey, predictable travel times and the continuous maintenance of highway infrastructure through the revenue collected. Yet, as the National Highway Authority’s (NHA) toll receipts experience an unprecedented surge, a fundamental question emerges: who controls these billions, how are these contracts structured, and how much of this capital actually finds its way back into the asphalt under our wheels? The numbers involved are formidable. NHA toll collections surged from Rs 35.06 billion in FY 2021-22 to an estimated Rs 85.55 billion in FY 2025-26, representing a massive increase of roughly 144 percent. After experiencing minor dips to Rs 33.40 billion in 202223 and Rs 32.07 billion in 2023-24, revenue escalated sharply to Rs 64.43 billion in 202425. In the latest financial year, national highways contributed approximately Rs 48.86 billion, while motorways added another Rs 36.85 billion. While these figures highlight a major expansion in state extraction, revenue generation alone tells us very little about the quality of grid infrastructure, operational efficiency, or the actual value delivered to the traveling public. The NHA does not operate the bulk of its toll network directly. Instead, it regularly outsources operation, collection, and maintenance to state-affiliated entities such as Frontier Works Organisation and National Logistics Cell alongside private corporate vendors. In June 2026, the NHA auctioned off operating rights for 81 of its 93 toll plazas. Outsourcing in itself is an established global practice, but its success relies entirely on transparent bidding, independent regulatory oversight, and full public disclosure regarding revenue splits, operator remuneration, and mandatory service standards. The financial framework governing these contracts warrants careful scrutiny. In June 2022, the NHA executed a major seven-year contract with the FWO, extendable by up to three years based on performance to manage toll collection and operational maintenance across
equipment component of this agreement was valued at Rs 12.2 billion, while the Operation and Maintenance arrangement guaranteed the contractor a 32.5 percent share of overall toll revenue. During 2022-23 alone, these six corridors generated Rs 9.612 billion in toll receipts, out of which approximately Rs3.124 billion was disbursed for operations and allied services. While such figures do not automatically suggest impropriety, they demonstrate the immense commercial scale of these arrangements and underscore the imperative of rigorous performance auditing against public disbursements. Competitive financial bidding does not automatically guarantee optimal public value. Bidding structures that focus purely on maximizing immediate state revenue often overlook critical operational safeguards. When a contract promises high returns on paper but lacks enforcement mechanisms on the ground, public utility is inevitably compromised. Official audits reinforce these concerns. The Auditor General of Pakistan (AGP) reported that the NHA failed to secure a mandatory Rs 500 million toll-revenue security deposit required under the FWO contract, a vital financial buffer meant to protect the state against contractual default and financial risk. The omission of such a basic safeguard in a multi-billion-rupee agreement points to systemic laxity in contract administration. Even more troubling is the massive disconnect between maintenance planning and execution. According to audit records for 2023-24, against a planned road maintenance programme budgeted at approximately Rs 72.85 billion, the NHA’s actual expenditure for the year stood at a mere Rs 8.22 billion. This vast gap between statutory allocation and physical execution dismantles the assumption that rising revenue collections automatically translate into safer, well-maintained highways. The real-world consequences of this execution gap are borne directly by ordinary citizens and commercial transporters. Deteriorating highway surfaces, uncalibrated lane markings, inadequate lighting, and delayed pothole repairs significantly increase vehicle wear and tear, burn excessive fuel, and heighten accident risks. In an economy reliant on road transport for over
creased transit times and fleet maintenance expenses inflate freight charges, which are ultimately passed on to end-consumers in the form of higher prices for essential foodstuffs, industrial raw materials, and everyday consumer goods. A toll booth is not merely a revenue-collection point but an economic checkpoint that influences the cost of doing business across the entire national economy. To be sure, the NHA operates under severe financial constraints. It manages a massive national road network spanning over 13,000 km, including strategic rural and border highways where traffic volumes can never cover basic upkeep. Furthermore, the authority must service substantial debt obligations accumulated from past capital-intensive infrastructure projects. Higher toll rates may well be justified to cover these systemic liabilities, but financial receipts cannot remain the sole metric of organizational success. Moving forward, structural reform is imperative. First, the NHA must shift from simple revenue-sharing contracts to performance-linked agreements, where contractor payouts are explicitly tied to verifiable Key Performance Indicators (KPIs), such as surface smoothness, emergency response times, and road safety compliance. Second, mandatory third-party technical and safety audits should be published annually to ensure independent verification of road quality. Finally, transparency must be institutionalized through a real-time public dashboard detailing daily toll collections and itemized maintenance spending for every major corridor. Public infrastructure exists to facilitate economic activity and safe mobility, not merely to act as an unconstrained cash engine for the state. Motorists who pay escalating tolls every day deserve roads that are safe, durable, and efficiently maintained. Ultimately, the NHA’s performance must be judged not by the billions it pulls in at the barrier, but by the safety, quality, and reliability of the roads it provides to the nation.
The writer has a PhD in Political Science, and is a visiting faculty member at QAU Islamabad. He can be reached at zafarkhansafdar@yahoo.com and tweets @zafarkhansafdar
Public infrastructure exists to facilitate economic activity and safe mobility, not merely to act as an unconstrained cash engine for the state. Motorists who pay escalating tolls every day deserve roads that are safe, durable, and efficiently maintained. Ultimately, the NHA’s performance must be judged not by the billions it pulls in at the barrier, but by the safety, quality, and reliability of the roads it provides to the nation
Lahore – Ph: 042-36300938, 042-36375965
I
Karachi – Ph: 021-32640318 I
Islamabad – Ph: 051-2204545
I
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
Secure dangerous roadside drains
OPEN drains and poorly maintained roads continue to endanger pedestrians and motorists in several parts of Karachi. The situation near Magsi Goth in Malir requires urgent attention because uncovered drainage channels and inadequate safety arrangements create a risk of accidents. Motorcyclists and pedestrians are particularly vulnerable where roads are uneven, construction material obstructs movement and warning signs are missing. Such conditions become even more dangerous after sunset. Municipal authorities should install protective barriers, improve street lighting and place visible warning signs around hazardous locations. Contractors must also ensure that construction activities do not compromise public safety. Regular inspections and timely repairs would help prevent accidents and protect residents. DANISH IQBAL KARACHI
Challenge harmful beauty standards
THE growing promotion of skin-lightening products has reinforced unrealistic beauty standards in society. Advertisements frequently associate lighter skin tones with attractiveness, confidence and professional success, creating unnecessary pressure on consumers. Young people are particularly susceptible to such messaging because of their exposure to social media and commercial advertising. Some consumers may also use cosmetic products without understanding their ingredients or possible health effects. Regulatory authorities should ensure that cosmetic manufacturers provide accurate information and avoid misleading advertising claims. Schools, families and media organisations should promote greater acceptance of different appearances. HIRA SALEEM RAWALPINDI
Protect small investors
ECONOMIC uncertainty and frequent fluctuations in financial markets have made investment decisions increasingly difficult for ordinary Pakistanis. Rising living costs, changing interest rates and unpredictable market conditions have created additional challenges for people seeking to protect their savings. Many small investors lack access to reliable financial information and consequently make decisions without fully understanding the risks involved. This exposes their savings to potential losses. Financial institutions and regulatory authorities should introduce awareness programmes explaining investment options, market risks and the importance of financial planning. The government must also pursue consistent economic policies to strengthen investor confidence. Greater financial literacy would enable households to manage their savings more effectively. BILAL AHMED CHAKWAL
Restore reliable bus services
KARACHI’S public transport system continues to face operational problems despite the introduction of new bus services. Frequent breakdowns, overcrowding and irregular schedules have created difficulties for passengers who depend on affordable transportation. The Red Bus service was expected to improve commuting conditions, particularly for students, employees and low-income residents. However, unreliable operations have reduced its effectiveness and forced passengers to spend additional time and money travelling across the city. The provincial government should ensure regular vehicle maintenance, improve monitoring of bus operations and provide sufficient buses on busy routes. AYESHA SIDDIQUI KARACHI
Web: www.pakistantoday.com.pk
I
Email: editorial@pakistantoday.com.pk
T
Strengthening Pakistan’s Role in International Arena
abdul basiT alvi
HE Badr Memorandum of Understanding marks an important step in Pakistan’s growing role in the international defence industry. Signed in Doha by Türkiye, Qatar, Pakistan, and Indonesia, the agreement establishes a structured framework for longterm cooperation in joint military equipment production, research and development, and technical training. The name Badr, meaning full moon, symbolizes the complementary strengths of the four countries and their shared defence and economic ambitions. Through joint manufacturing, shared research facilities, technology development, and specialized training, the partners aim to build stronger defence industries and improve their ability to produce and maintain advanced military equipment. The agreement also offers significant economic and strategic benefits, including skilled employment, technological innovation, export earnings, and access to wider markets. It aims to combine the four countries’ capabilities to meet their own defence requirements and supply allied and friendly nations. Pakistan could benefit from Türkiye’s expertise in drones and advanced electronics, Qatar’s financial resources, and Indonesia’s manufacturing capacity, while expanding its existing defence production and export opportunities. The memorandum builds on Pakistan’s longstanding defense ties with Türkiye and Qatar but takes cooperation beyond bilateral arrangements by establishing a broader industrial framework. This could help Pakistani defence organizations, including the Defense Industrial Production Organization, participate in integrated supply chains, plan long-term investments, and gain access to technology transfers. The agreement also follows the Makkah Joint Defense Agreement, signed by Pakistan, Saudi Arabia, and Türkiye in August 2026, which treats an armed attack on one member as an attack on all three. Implementation has advanced through a meeting of the Strategic Political and Defence Committee in Riyadh, where the deployment of agreed military forces and capabilities to Saudi Arabia was decided. Pakistan has also appointed a retired lieutenant general as the alliance’s first secretary-
general. Together, these developments demonstrate Pakistan’s growing commitment to practical defense cooperation, industrial development, and regional security partnerships. The relationship between the Makkah agreement and the Badr memorandum is complementary but distinct. The Makkah pact is a collective defense arrangement. It is about security guarantees and military response. The Badr memorandum is about industrial cooperation. It is about building things together. One deals with the threat of war. The other deals with the production of the tools of defence. Together, they represent a comprehensive approach. Pakistan is now a member of a security alliance and a partner in a defence industrial network. These two roles reinforce each other. A country that can help defend its partners is more valuable as an industrial partner. A country that can co-produce advanced equipment is a more credible ally. The Badr framework is also open to expansion. The Qatari news agency reported that other friendly nations may join the memorandum in accordance with criteria agreed upon by the four founding countries . This is a crucial detail. It means Badr is not a closed club. It is a platform designed to grow. The agreement leaves room for expansion, potentially bringing in other countries from the Gulf, the Middle East, and Southeast Asia . This expansionist design is a sign of confidence. The founders believe the framework is valuable enough that others will want to join. It also creates a network effect. Each new member adds capabilities, markets, and political weight. Pakistan, as a founding member, would sit at the centre of this growing network. This enhances its diplomatic leverage and its industrial opportunities. The statements from Pakistani officials reflect a clear understanding of what is at stake. Khawaja Muhammad Asif, the Defence Minister, said that Pakistan places great importance on strengthening defence cooperation with trusted partners. He described the memorandum as a reflection of a shared commitment to contributing to regional peace and stability. He also spoke about exploring opportunities for strengthening self-reliance, industrial collaboration, joint production, and technology transfer. He emphasized that this would be done while drawing on the complementary strengths of the respective defence industries, in accordance with international and domestic laws . This last point is important. It signals that Pakistan is approaching this cooperation as a responsible actor. It is not seeking to circumvent regulations. It is building a legiti-
Arab voters have spoken. Will Israel listen?
Our communities voted against despair, violence and extremism. Now Jewish leaders must decide whether to extend a hand or deepen the divide Coexistence between Jews and Arabs, particularly in mixed cities, stands at a fateful crossroads. Trust has been cracked, and there will always be those who attempt to further fracture our fragile, delicate social fabric
T
COMMENT 05
The Badr MOU
Wednesday, 4 November, 2026
TIMES OF ISRAEL Ghadir hani
HROUGHOUT this recent period, as I moved from one town to another, from home visits to community meetings and conferences, I was accompanied by two central, powerful emotions: fear and hope. After years of grassroots activism for shared society — in the Negev, in my hometown of Acre, and through women’s and interfaith initiatives — I have always known that our impact remains limited as long as the political reality remains polarized, exclusionary, and dismissive. The past few years, including the horrific events of October 7 and the devastating war, have often led me to question the purpose of continuing in the face of such despairing extremism. Yet, these recent elections became my watershed moment. I never imagined myself running for the Knesset. When our joint Arab-Jewish list, “A Place for Us All” (Makom LeCulanu), ultimately chose not to run, I felt a momentary sense of relief. But then I realized that the responsibility still rests upon us. As a field activist, I poured all my energy into boosting voter turnout within Arab society. In both the north and the south, I heard a single, echoing plea: save us. Save us from a government that has abandoned our lives, save us from the rampant crime, and save us from utter despair. Arab society did not surrender to the extremists. The historic achievement of 19 seats for Arab parties is definitive
proof that our public did not raise its hands in defeat. Instead, they went out, voted, and made it clear that they demand change and real influence. Now, our great duty is to translate this political milestone into tangible, immediate influence. Our representatives hold a fateful role in shaping the future of both peoples in this land. This is the exact moment when the Jewish leadership and public must extend their hand in return, and together lead a partnership of reconciliation. The first and most urgent step must be an uncompromising battle against violence and crime, to restore safety to our streets. Our struggle has never been against the Jewish public. On the contrary — we are extending a hand for genuine partnership to build trust, just as Arab and Jewish doctors and nurses do every single day in hospitals, working side by side to save lives. It pained me deeply to hear Knesset members claim that following October 7, it is impossible to form a government supported by Arabs. Why? The disaster of October 7 and this devastating war have struck us all. Only by joining hands can we shatter the outdated and destructive paradigm that claims “there is no partner.” Coexistence between Jews and Arabs, particularly in mixed cities, stands at a fateful crossroads. Trust has been cracked, and there will always be those who attempt to further fracture our fragile, delicate social fabric. The answer to these disasters and dangers is courage and civic responsibility. Out of this profound brokenness, we must establish a government that truly represents Arab citizens as well. I know it is possible—and it depends on all of us.
This piece was written with assistance from Dror Rubin.
Ghadir Hani is a Palestinian citizen of Israel, an award-winning peace activist, and co-founder of Hope Initiatives with Dror Rubin.
mate, transparent industrial partnership. The focus on self-reliance is particularly relevant for Pakistan. The country has long sought to reduce its dependence on foreign suppliers for critical defence equipment. Joint production and technology transfer are the most effective ways to achieve this. When a country simply buys equipment, it remains dependent on the seller for spare parts, upgrades, and maintenance. When it co-produces equipment, it develops its own industrial capacity. It learns the underlying technologies. It can eventually modify and improve the equipment to suit its own needs. The Badr memorandum explicitly aims at this kind of capability building. It is not a short-term transaction. It is a long-term investment in Pakistan’s industrial future. The inclusion of Indonesia in the Badr framework is also notable. Indonesia is the largest Muslim-majority country in the world. It has a large and growing economy. It has its own ambitions in defence manufacturing. Bringing Indonesia into a framework with Pakistan, Türkiye, and Qatar creates a bridge between South Asia, the Middle East, and Southeast Asia. This geographic span is significant. It means the Badr network stretches from the eastern Mediterranean to the Pacific. It creates opportunities for Pakistan to engage with Southeast Asian markets and suppliers. It also gives Indonesia a stake in the security and stability of the Middle East and South Asia. The Indonesian Foreign Ministry spokesperson noted that the agreement aligns with Indonesia’s strategy to diversify its international defence partnerships and strengthen its position in global defence supply chains. This is a shared goal. All four countries want to move up the value chain in defence production. The technical military training component of the agreement deserves attention. defence equipment is only useful if the people operating it are properly trained. Joint train-
ing programmes build interoperability. They create common procedures and standards. They also build personal relationships between military personnel from different countries. These relationships are the foundation of trust. When officers train together, they learn how each other thinks and operates. This pays dividends in coalition operations, peacekeeping missions, and joint exercises. The Badr memorandum formalizes this kind of exchange. It ensures that the training is not ad hoc but structured and continuous. Research and development is perhaps the most forward-looking element of the agreement. R&D is expensive and risky. It requires sustained investment over many years. No single country in the group has unlimited resources for defence R&D. But by pooling their efforts, they can achieve more than they could alone. They can share the costs of developing new systems. They can share the risks of failure. They can combine their scientific talent. Pakistan has a strong base of engineering and scientific talent. Türkiye has demonstrated a remarkable capacity for defence innovation in recent years. Qatar has the financial resources to fund ambitious projects. Indonesia has a large industrial base and a growing pool of skilled workers. Together, they can pursue technologies that would be out of reach for any one of them individually. The Badr memorandum also has implications for Pakistan’s global image. For years, Pakistan has often been portrayed in international media primarily through the lens of security challenges. It has been seen as a country that receives assistance rather than one that provides it. The Badr agreement helps change this narrative. It shows Pakistan as a country with advanced industrial capabilities. It shows Pakistan as a partner that other nations seek out. It shows Pakistan as a contributor to regional stability, not just a beneficiary of it. The people of Pakistan have long felt that their country’s positive contributions are overlooked. Agreements like Badr provide concrete evidence that Pakistan is a responsible and capable international actor. This is a source of national pride. The agreement also fits into a broader pattern of Pakistan’s foreign policy. Pakistan has been actively strengthening its ties with countries across the Muslim world. It has
The people of Pakistan have reason to feel proud. Their country is being recognized for its capabilities. It is being invited to help shape the future of defence production in a vital region. The Badr agreement is not just a piece of paper. It is a statement of intent. It is a declaration that Pakistan is a partner of choice.
deepened its relationship with Saudi Arabia through the Makkah pact. It has maintained a close partnership with Türkiye that spans defence, trade, and diplomacy. It has engaged with Qatar on security and economic matters. It is now building a new relationship with Indonesia. This is a strategy of diversification. It reduces reliance on any single partner. It builds a network of relationships based on shared interests and mutual respect. The Badr memorandum is a tangible expression of this strategy. The defence industry is a demanding sector. It requires precision engineering, rigorous quality control, and strict security protocols. The fact that four countries are willing to integrate their defence industries, even partially, is a sign of deep trust. They are willing to share sensitive technologies. They are willing to open their production facilities to each other’s inspectors. They are willing to coordinate their export policies. This level of cooperation is not common. It takes years of relationship building to reach this point. The Badr memorandum is the result of patient diplomacy and sustained engagement. Looking ahead, the success of the Badr agreement will depend on implementation. Signing a memorandum is the easy part. Turning it into functioning joint production lines, active R&D projects, and regular training exchanges is the hard work. It will require bureaucratic coordination. It will require the allocation of budgets. It will require the resolution of inevitable disagreements. But the framework is sound. The political will appears to be present. The four countries have different strengths and different needs. This is actually an advantage. It means they can trade. Pakistan can offer manpower and certain types of production capacity. Türkiye can offer advanced technology and design expertise. Qatar can offer financing and strategic location. Indonesia can offer market access and manufacturing scale. Each has something the others want. For Pakistan, the Badr memorandum is a milestone. It marks the country’s entry into a new tier of international defence cooperation. It moves Pakistan from the sidelines to the center of a multilateral industrial project. It creates opportunities for Pakistani engineers, technicians, and defence companies. It strengthens Pakistan’s relationships with three important countries. It complements the security guarantees of the Makkah agreement. It enhances Pakistan’s standing in the international arena. The people of Pakistan have reason to feel proud. Their country is being recognized for its capabilities. It is being invited to help shape the future of defence production in a vital region. The Badr agreement is not just a piece of paper. It is a statement of intent. It is a declaration that Pakistan is a partner of choice. It is a sign that Pakistan’s role in the world is growing stronger with each passing day.
China reaffirms support for Iran’s sovereignty
The writer is a freelance columnist.
Tehran rules out compromise on national security
C
Bagheri said China had reaffirmed its full support for the Islamic Republic, adding that Tehran and Beijing shared common perspectives on diplomacy and the prospect of war in the period ahead
TEHRAN TIMES
MahMoud MahMoudian
HINESE Foreign Minister Wang Yi on Monday reaffirmed Beijing’s support for Iran’s sovereignty and security. Wang made the remarks during a meeting with Ali Bagheri, a senior Iranian diplomat serving on Iran’s Supreme National Security Council (SNSC). The meeting came amid intensive shuttle diplomacy aimed at preventing a resumption of hostilities between Iran and the United States following a 100-day period of neither war nor peace. Wang stressed that dialogue and negotiations remain the only viable way to resolve the ongoing conflict in West Asia. During the meeting in Beijing, Bagheri Kani underscored Tehran’s determination to defend its national security, sovereignty and territorial integrity without compromise. The two officials focused on the consequences of the USIsraeli military aggression against Iran, diplomatic initiatives to end the conflict, bilateral relations and prospects for establishing sustainable security in the region. Wang emphasized that a political solution, rather than a return to military confrontation, was essential to ending the conflict. According to China’s state-run Xinhua News Agency, Wang said the war in the Middle East had continued for too long, and its consequences were spreading, making dialogue and negotiations the only way out of the crisis. He called on all parties to act responsibly and work towards a political settlement with a rational and pragmatic approach rather than resorting to further military confrontation. Wang also expressed China’s readiness to continue cooperating with relevant parties and pursuing initiatives aimed at restoring regional peace, drawing on proposals put forward by Chinese President Xi Jinping to de-escalate tensions in West Asia. The Chinese foreign minister further emphasized that, despite fluctuations in the international environment, relations between Beijing and Tehran had continued to develop steadily, serving the fundamental interests of both nations and reflecting the broader aspirations of the Global South for solidarity and cooperation. China, he said, was prepared to work with Iran to further strengthen bilateral relations.
NO CONCESSIONS: Bagheri Kani briefed Wang on developments following the US-Israeli aggression against Iran, Tehran’s diplomatic initiatives to end the conflict and its
efforts to establish lasting security in the region. He stressed that Iran would make no concessions when it came to defending its national security, sovereignty and territorial integrity. Describing the US and Israeli attacks against Iran, including the assassination of the Leader of the Islamic Revolution, as an unforgettable crime, the Iranian official said such actions constituted war crimes and must not be allowed to continue. “We consider these actions to constitute war crimes, and such crimes must not be allowed to continue,” he said. Bagheri reiterated that Iran’s position on defending its national interests and territorial integrity remained unchanged, emphasizing that no compromise would be made on these fundamental issues. He also warned against the consequences of Washington’s pursuit of war and hegemonic policies, arguing that a war against a civilization could not produce victory and would instead inflict serious damage on the global economy. In remarks following the meeting, Bagheri said China had reaffirmed its full support for the Islamic Republic, adding that Tehran and Beijing shared common perspectives on diplomacy and the prospect of war in the period ahead. Xi warns against turning Persian Gulf into arena for great-power rivalry Earlier on Monday, Chinese President Xi Jinping, during talks with Omani Sultan Haitham bin Tariq in Beijing, stressed that the Middle East and the Persian Gulf should not become an arena for great-power rivalry and geopolitical confrontation. He said China remained committed to ending the war and was prepared to contribute diplomatic initiatives and practical solutions to the region’s security challenges. Xi also emphasized China’s readiness to strengthen communication and coordination with Arab countries, including members of the Gulf Cooperation Council (GCC), to help restore regional peace and achieve lasting stability and security. His remarks reaffirmed Beijing’s position that regional disputes should be resolved through political and diplomatic means rather than military confrontation, with regional countries playing a central role in shaping their own security arrangements. The Chinese president’s meeting with the Omani sultan also highlighted the importance Beijing attaches to cooperation with regional countries in promoting stability across West Asia and the Persian Gulf.
CHINA BACKS REGIONAL STABILITY THROUGH POLITICAL ENGAGE-
MENT: China has consistently advocated resolving disputes in West Asia through dialogue and diplomacy, seeking to promote regional stability through political engagement and cooperation among regional countries. Beijing’s diplomatic efforts have included its mediation in the restoration of diplomatic relations between Iran and Saudi Arabia in March 2023, an initiative widely regarded as a significant step towards easing tensions and strengthening regional cooperation. Under an initiative by Chinese President Xi Jinping, Beijing hosted and sponsored negotiations between Tehran and Riyadh from March 6 to 10, 2023, culminating in an agreement to resume diplomatic relations, reopen embassies and missions, and implement previously signed cooperation and security agreements. The agreement was announced in a joint trilateral statement issued by China, Iran and Saudi Arabia on March 10, 2023. Iran and Saudi Arabia also acknowledged China’s role in facilitating the negotiations, while expressing appreciation for Iraq and Oman for hosting earlier rounds of dialogue in 2021 and 2022. China’s diplomatic engagement in the region has continued amid escalating tensions and the consequences of the US-Israeli military aggression against Iran.
Trump to refurbish the Statue of Liberty
SATIRE
P
NEWS BISCUIT TiTus
RESIDENT Trump has announced plans - the biggest, most beautiful plans ever - to restore the Statue of Liberty to its full glory. These plans will include painting it gold, re-naming ‘The Trump Statue of Liberty’ and editing the displayed message to say ‘F*** off, foreigners!’ ‘Which is well overdue’ explained the President. ‘No-one has ever taken more liberties than me! FACT.’
06 NEWS
TRUMP SAYS 'NOT LOOKING TO KILL LOTS OF PEOPLE' IN IRAN AFTER MIDTERMS
U
WASHINGTON AGENCIES
S President Donald Trump said Tuesday that he is "not looking to kill lots of people" in Iran following the midterm elections, while warning that Washington would take decisive action if necessary. "Look, I'm not looking to, you know, kill lots of people, but if we have to, we'll have to," Trump told Fox News amid reports that the US was weighing strikes on Iran following the polling. Trump said American forces struck a newly completed Iranian anti-aircraft installation overnight after monitoring its construction for over two months. "Just a minor attack. It wasn't war." Citing a US official, local media reported that the US military carried out "defensive" strikes against Iran’s Qeshm Island on Monday. The US president argued that the confrontation with Iran differs from traditional wars such as the Russia-Ukraine war or World War II, asserting that Washington
holds total leverage over Tehran after crippling its naval and air assets during the ongoing Iran war. "We have them totally where we want. We could finish them off, or we could be nice and let thousands of people live that would get killed in a war," he said. IRGC CLAIMS SHOOTING DOWN TWO MORE US DRONES The US carried out strikes on Iran's Qeshm Island in the Strait of Hormuz, a US official said on Monday. The strikes, earlier reported by the Wall Street Journal, appeared to be limited and were not a resumption of major combat operations, the official said, speaking on the condition of anonymity. Another official said the strikes were defensive measures against Iranians using surface-to-air missiles against US assets. The Pentagon referred a request for comment to the US Central Command, which oversees American forces in the Middle East. CENTCOM did not respond to requests for comment. Earlier on Monday, Iranian state media outlet IRNA reported that there were several
explosions on Qeshm Island. The Journal reported that the attack was the latest in a series of strikes carried out by Washington in recent weeks. Fox News, citing officials, said the strikes were defensive and carried out in response to Iran firing at a US aircraft. Iran’s state news agency IRNA reported five explosions on Qeshm Island, located in the Strait of Hormuz. Separately, the semiofficial Fars news agency said explosions were heard coming from the direction of the sea in Bandar Lengeh in Hormozgan province. The cause of the explosions was not immediately known. Neither agency provided details on casualties or damage. The reports come amid continued diplomatic efforts between Tehran and Washington over tensions surrounding the Strait of Hormuz. Iranian Foreign Ministry spokesman Esmaeil Baqaei said Monday that the two countries were continuing to exchange messages through mediators. He confirmed that Deputy Foreign Minister Kazem Gharibabadi had visited Doha to facilitate the exchanges through Qatari mediation.
Chinese premier Li Qiang calls for global cooperation on cyberspace BEIJING
STAFF CORRESPONDENT
Chinese Premier Li Qiang on Tuesday called for a people-centered approach to Internet development and stronger international cooperation to jointly build a community with a shared future in cyberspace. Speaking at the opening ceremony of the 2026 World Internet Conference Wuzhen Summit in east China's Zhejiang Province, Li said the Internet is undergoing an intelligent transformation and a systemic leap as it converges at an accelerating pace with with technologies such as AI, cloud computing and blockchain. He said the Internet is not merely infrastructure, but also shaping new ways of life, driving industrial transformation and fostering intelligent generation. Li stressed that AI and the Internet should extend human capabilities and serve as means of liberation, not replace people. Human agency must remain paramount and the ultimate purpose must be to promote people's all-round development, he said.
He also highlighted the need to tackle the ethical implications of algorithms and models, the security risks arising from digital-physical integration, and the digital and AI divide, noting that over two billion people worldwide remain offline. TO ADDRESS THESE CHALLENGES, LI PUT FORWARD FOUR PROPOSALS: 1. Open innovation. Bolster scientific and technological innovation, encourage open source, strengthen
collaborative research, and support the large-scale application of new tech and products. Li said China will continue to promote technology transfer and knowledge sharing to build an open, inclusive and dynamic global ecosystem for digital innovation. 2. Digital security. Ensure credibility and controllability to strengthen digital security safeguards. Li urged countries to promote common, comprehensive, cooperative and sustainable security, and step up practical cooperation. China will re-
IRAN DELIVERS ‘FIRM, RATIONAL’ RESPONSE TO US, SAYS ‘BALL IN AMERICA’S COURT TO PREVENT WAR’ Iranian Parliament Speaker Mohammad Bagher Ghalibaf said Tuesday that Tehran has delivered a “firm and rational” response to Washington, stressing that the US must now decide whether to prevent another war. Speaking during a parliamentary session, Ghalibaf, who is also leading Iran’s negotiating team in talks with the US, said Tehran remained prepared for both diplomacy and military confrontation. “Iran has delivered a firm and rational response to the American side, and now the ball is in America’s court to prevent war,” he said. He stressed that Iran’s armed forces remained at the highest level of defensive readiness. “If Washington makes another strategic mistake, it should know that this time it will face a new battlefield and will find itself even more desperate to seek a way out,” he warned. Ghalibaf also accused the US of pursuing a longstanding policy aimed at dominating Iran, saying Washington had previously
spect the legitimate cybersecurity concerns of all countries, he said, while opposing the overstretching of the concept of national security and the erection of "digital iron curtains." 3. Inclusive development. Pursue universally beneficial and balanced development to share digital dividends. Li said China will actively implement the Global Development Initiative and support Global South countries in building digital infrastructure, cultivating talent and enhancing capacity. 4. Multilateral governance. Advance open dialogue to improve the multilateral governance system. Li called for strengthening coordination and cooperation rather than deliberately escalating friction, practicing true multilateralism, maximizing common interests and promoting more just and equitable global Internet governance. China will actively build dialogue platforms based on the principle of extensive consultation and joint contribution for shared benefit, and contribute more Chinese wisdom to improving cyberspace governance, he said. Li noted that in an increasingly interconnected world, no country can prosper alone. China will work with the international community to ensure that digital and intelligent technologies better serve global development and the well-being of all humanity, he said.
Houthis claim strike on Saudi airport, airbase SANA'A
AGENCIES
The Houthis on Tuesday claimed to have struck an airport and an airbase in Saudi Arabia's Abha and Khamis Mushait areas. In a post on X, Houthi spokesman Yahya Saree claimed that the group had "carried out two military operations", further adding that the "first operation targeted Abha International Airport with a drone, and the
strike was precise, leading to the disruption of air traffic at the airport".The spokesman added that the second operation "targeted Khamis Mushait Air Base with a ballistic missile, and the strike was direct, by the grace of God". Saudi-led coalition says drone intercepted over Makkah region as Houthis deny launching attack The Saudi-led coalition said on Tuesday that it intercepted and destroyed a drone over the Makkah region in western Saudi Arabia amid escalating tensions with the Houthi group in Yemen. Coalition spokesman Turki alMaliki reported the interception on US social media company X, without giving any details about injuries or damage. Meanwhile, the Houthi military spokesman Yahya Saree said the group had not carried out any operation targeting Saudi territory on Tuesday. Last week, the Saudi-led coalition in Yemen said it intercepted and destroyed a Houthi ballistic missile targeting southern Saudi Arabia and a drone in the Riyadh region amid escalating hostilities with the Yemeni group. The same day, the coalition said it had intercepted and destroyed a drone launched by the Houthis over the Makkah region, which Saree dismissed as false in a post on X, saying the group's operations were targeting Saudi oil facilities and military bases. On October 24, the Saudi-led coalition said it destroyed two ballistic missiles fired by the Houthis towards Taif and Yanbu, with Saudi Arabia's Civil Defence briefly issuing alerts warning of potential
danger in the holy city of Makkah and its secondlargest city, Jeddah. ARAGHCHI SAYS TALKS BETWEEN IRAN, SAUDI ARABIA ONGOING Iranian Foreign Minister Abbas Araghchi said that talks between Iran and Saudi Arabia were ongoing as Tehran aimed to reach new regional security arrangements for countries in the region without foreign military involvement. Last week, top officials from Saudi Arabia, Türkiye and Pakistan met Iranian officials in Tehran, the first high-level contact between Iran and the three nations since August. The US-Israeli war on Iran started in late February, and since then, fighting has spread to Saudi Arabia and Yemen. Riyadh said the visit was intended to open negotiating channels to "prevent the return of military escalation," as fighting between Saudi Arabia and Yemen's Houthis had intensified in recent weeks. Houthi attacks on the kingdom escalated as the group advanced towards the Bab el-Mandeb Strait, a key shipping chokepoint that lies on the opposite side of the Arabian Peninsula from the Strait of Hormuz. The Houthis have also attacked Saudi oil facilities and airports, including Riyadh's international airport, disrupting flights and oil exports and drawing Saudi air strikes on Yemen in response.
Wednesday, 4 November, 2026 | LAHORE
relied on compliant governments but now employed military, economic and psychological warfare. He said Iran would not surrender to military threats, warning that any miscalculation by Washington would trigger an unpredictable response. Ghalibaf added that Iran’s military response to any renewed attack would not be limited by geographical boundaries. Iran's foreign minister says talks with Saudi Arabia are ongoing; Yemen fighting intensifies. Talks between Iran and Saudi Arabia are ongoing as Tehran aims to reach new regional security arrangements for countries in the region without foreign military involvement, Iranian Foreign Minister Abbas Araghchi said on X on Tuesday. Last week, top officials from Saudi Arabia, Turkey and Pakistan met Iranian officials in Tehran, the first high-level contact between Iran and the three nations since August. The US-Israeli war on Iran started in late February, and since then, fighting has spread to Saudi Arabia and Yemen. Riyadh said the visit was intended to open negotiating channels to "prevent the return of military escalation," as fighting between Saudi Arabia and Yemen's Iran-aligned Houthis had intensified in recent weeks. Houthi attacks on the kingdom escalated as the powerful militia advanced towards the Bab el-Mandeb Strait, a key shipping chokepoint that lies on the opposite side of the Arabian Peninsula from the Strait of Hormuz.
Wang Yi reaffirms China's support for Myanmar's development BEIJING
STAFF CORRESPONDENT
Chinese Foreign Minister Wang Yi on Tuesday called for joint efforts to advance the building of a ChinaMyanmar community with a shared future, expressing China's support for Myanmar's political reconciliation, economic development and improvement of people's livelihoods. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a meeting with Myanmar's Minister for the Ministry of National Planning, Investment and Foreign Economic Relations Aung Kyaw Hoe in Beijing. Wang stressed China supports Myanmar in achieving political reconciliation and supports its new government in stabilizing the situation, developing the economy, improving people's livelihoods and achieving revitalization. China will always be a strategic partner that Myanmar can rely on, he said. Wang called on the two sides to coordinate development and security, steadily advance key projects under the China-Myanmar Economic Corridor and strengthen cooperation in energy and resources. He also urged intensified efforts to combat online gambling and telecom fraud and prevent a resurgence of chaos in Myawaddy. Wang expressed hope that Myanmar would take concrete measures to ensure the safety of Chinese personnel, institutions and projects in the country.
US approves Qatar-presented draft deal with Iran: sources WASHINGTON AGENCIES
The United States approved a draft memorandum of understanding that Qatari mediators presented to Iran a day ago, sources familiar with the matter said on Tuesday. “The mediation team briefed Saudi Arabia and the UAE on the memorandum, which they also approved,” the sources told Qatari newspaper Al-Araby Al-Jadeed. The newspaper said Washington and Tehran have made concessions regarding Iran’s nuclear programme and frozen assets. “Tehran will announce a concession on its nuclear programme in return for Washington announcing the release of part of Iran’s frozen assets,” the sources said, noting that the announcements would be made simultaneously. Discussions are underway on arrangements for both sides to announce the agreement simultaneously, including initial steps and an interim deal that would pave the way for renewed negotiations.
NEWS 07
Wednesday, 4 November 2026 | LAHORE
CORPORATE CORNER
FBL declared ‘Best Bank of Year 2025’ by CFA Society Pakistan
KARACHI STAFF REPORT
Faysal Bank Limited (FBL) has been recognized as Best Bank of the Year 2025 in the mid-sized banks category at the 23rd Annual Excellence Awards 2026 organized by CFA Society Pakistan, reaffirming its leadership in Islamic banking and its continued commitment to innovation, excellence and customer-centric growth.As one of Pakistan’s leading Islamic banks, with an expanding network of 900 branches nationwide, Faysal Bank’s recognition reflects its strong financial performance, growing digital capabilities and continued focus on delivering inclusive, responsible and innovative Shariah-compliant financial solutions. Its customer-first approach and focus on sustainable growth have further strengthened its position in Pakistan’s evolving financial landscape.Commenting on the achievement, Mr. Yousaf Hussain, President & CEO, Faysal Bank Limited, said: "Winning this award is a tremendous honour and a testament to the trust our customers place in Faysal Bank and the dedication of our people. We dedicate this achievement to our valued customers and our teams whose passion and commitment continue to drive us forward.
BISP highlights progress in adaptive social protection, strengthens Pakistan-Germany cooperation
ISLAMABAD STAFF REPORT
The Benazir Income Support Programme (BISP) and German Development Cooperation have reaffirmed their commitment to strengthening Pakistan's social protection system, with a particular focus on developing adaptive mechanisms to respond to climate-related risks, disasters and emerging vulnerabilities.A high-level German delegation, comprising representatives of the German Federal Ministry for Economic Cooperation and Development (BMZ), German Embassy, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and KfW Development Bank, visited BISP's One Window Centre in Islamabad to learn about the programme's progress and the impact of Pakistan-Germany cooperation in expanding access to social protection.Senator Rubina Khalid, Chairperson BISP, warmly welcomed the German delegation. Dr. Asim Ijaz, Director General (NSER), and Muhammad Idrees Mian, Director General (CT), were also present on the occasion.
Taking Pakistan’s IT Expertise to US Healthcare: Physicians Revenue Group partners with Devsinc for Digital Foundation on Microsoft Dynamics 365!
LAHORE STAFF REPORT
Devsinc, one of Pakistan’s leading software development and IT services companies led by Founder and CEO Usman Asif & Physicians Revenue Group, Inc. (PRG) partner for a multi-phase enterprise platform program built on Microsoft Dynamics 365, including Business Central. PRG is a healthcare revenue cycle management and practice services organization headquartered in Downers Grove, Illinois, United States. The program will bring PRG’s sales, service, finance and client experience functions together on a single, unified Microsoft platform across PRG and its family of companies. The first phase is scheduled to go live later this year, and the platform is designed to scale the operating model behind PRG’s work as the organization continues to grow across its service lines.
CM MARYAM INAUGURATES RS23B PROJECTS, DISTRIBUTES LAPTOPS, HONHAAR SCHOLARSHIPS IN ATTOCK PUNJAB CM ANNOUNCES TRANSPORT FOR UET TAXILA, DISTRIBUTES 6,161 LAPTOPS AND 2,590 HONHAAR SCHOLARSHIPS AMONG RAWALPINDI DIVISION STUDENTS
P g
LAHORE/ATTOCK
SALEEM JADOON
UNJAB Chief Minister Maryam Nawaz on Tuesday distributed laptops and Honhaar Scholarships among students at COMSATS University, Attock, including beneficiaries from Swabi, Khyber Pakhtunkhwa, and ordered the provision of transport facilities for the University of Engineering and Technology (UET), Taxila. Addressing a laptop and Honhaar Scholarship distribution ceremony at COMSATS University, the chief minister congratulated the recipients and extended her heartfelt appreciation to them, according to a statement issued by the Chief Minister's Office (CMO). She described the students receiving laptops and Honhaar Scholarships as the cream of Punjab, saying she had personally travelled to Attock as a mother to celebrate their achievements. Parents, she said, felt immense pride when their children succeeded. “The students are receiving the reward of their hard work and are entitled to it. There is no need for them to express gratitude, as they should claim their rightful due with dignity,” she said. Maryam Nawaz said children who
had overcome financial constraints through hard work and achieved success deserved appreciation. Today's students, she added, would shape Pakistan's destiny tomorrow. She said she had come to present her government's performance report rather than point out the shortcomings of others. Sharing the stories of scholarship recipients, the chief minister cited the example of a girl who had faced financial difficulties following her mother's death but whose financial problems were resolved after re-
ceiving the Honhaar Scholarship. Every scholarship recipient, she said, had a story of struggle and determination. She also met a student whose father was a labourer and who was delighted to receive the scholarship. Recalling the difficulties faced by talented students in the past, Maryam Nawaz said many capable young people had been unable to continue their education because of financial constraints. However, she assured students that no one would now be deprived of education
Attock residents turn out to thank CM Maryam for development initiatives: Azma Bokhari LAHORE
STAFF REPORT
Punjab Minister for Information and Culture Azma Bokhari said that residents of Attock came out yesterday to express their gratitude to Chief Minister Maryam Nawaz Sharif for her development initiatives. The completion of development projects worth over Rs28 billion in the district reflects the Chief Minister’s vision and commitment to public service. Azma Bokhari said that several development projects had been completed in Attock, including the upgradation of schools, urban beautification initiatives, the introduction of Green Buses, Maryam Nawaz Clinics, and the construction and rehabilitation of roads. She said
the benefits of these initiatives were reaching people directly. The Information Minister said that Maryam Nawaz was repeatedly reaching out to the public and receiving widespread affection and appreciation. She said the public response reflected recognition of tangible performance. The scenes witnessed at public gatherings, she added, had become a source of con-
Ibrahim Murad Proposes Punjab-Wide University Network to Combat Drug Abuse
LAHORE STAFF REPORT
University of Management and Technology (UMT) President Ibrahim Hasan Murad has proposed establishing a coordinated network of universities across Punjab to strengthen the fight against drugs, offering to sign a Memorandum of Understanding (MoU) with the Punjab Counter Narcotics Force (CNF) to promote institutional collaboration, intelligence sharing and joint prevention initiatives.The offer came during a meeting between Ibrahim Hasan Murad and Director General Punjab Counter Narcotics Force Brigadier Muhammad Rizwan at UMT on Tuesday, where both sides discussed measures to curb the spread of drugs in educational institutions, protect young people from substance abuse and promote a drug-free academic environment.Ibrahim Murad stressed that bringing universities across Punjab onto a common platform could make anti-narcotics efforts more effective and coordinated. He proposed sharing information on drug trafficking, distribution and consumption.
cern for the government's opponents and critics. Bokhari said that accepting criticism from propaganda cells without examining the facts was not a sound approach. In today's digital age, facts are readily available in the form of videos and other verifiable evidence. It is therefore essential to establish the truth before accepting any criticism or claim. She further said that CM Maryam Nawaz had aptly summed up the difference between those who come to power through the people's votes and those who assume power with the backing of an establishment figure, expressing the distinction in a single sentence. A mandate rooted in public support and service, she said, was the true source of political strength.
Ombudsman recovers Rs216m dues for 269 citizens in three months LAHORE
STAFF REPORT
The Office of the Ombudsman Punjab has facilitated the recovery and payment of outstanding dues worth Rs216.10 million to 269 citizens across the province within just three months, providing them financial relief through timely intervention. The citizens had approached the Ombudsman Punjab after facing delays or refusal by the relevant government departments to release their legitimate dues. Taking prompt notice of their complaints, the Ombudsman Punjab issued directions to the concerned departments, resulting in the release of the outstanding amounts. According to details, 80 citizens received Rs89.459 million as financial assistance, while Rs26.739 million was paid to 30 citizens against contractual dues. Similarly, 16 citizens received Rs37 million in pension benefits, while eight were paid Rs2.915 million as family pension. Furthermore, 40 citizens received Rs10.955 million as marriage grants, while 10 were provided Rs5.798 million in death grants. An amount of Rs5.219 million was released to 23 citizens under the General Provident Fund (GP Fund), while 55 citizens received Rs36.758 million in outstanding salaries. In addition, three citizens received Rs239,400 in property tax refunds, while two were paid Rs113,400 as farewell grants. The payments also included Rs923,000 in group insurance to one citizen and Rs750,000 in gratuity to another. The complainants appreciated the intervention of the Ombudsman Punjab, saying the timely action had helped secure their legitimate dues and provided effective redressal of their grievances.
220kV Transmission Line Energized to Power Dhabeji Special Economic Zone
LAHORE: NationalGrid- Pakistan has energized the 220 kV transmission line emanating from Jhampir-II to the Dhabeji substation, paving the way for reliable electricity supply to the Dhabeji Special Economic Zone (DSEZ) and for new jobs, investment and growth in the region.Completed at a cost of PKR 1,806.90 million, the project is in line with the Federal Government's decision to develop DSEZ as a centre of industrial activity as dependable power keeps factories running, businesses investing and families earning.As industries set up and expand in the zone, these businesses are expected to create livelihoods for local communities, strengthen supply chains and contribute to the national economy. For the youth of Sindh, this means the chance to build a career close to home.MD NationalGrid, Engr. Altaf Hussain Malik, appreciated the project team for the successful completion of the project. He said it is an important step towards strengthening the power infrastructure serving DSEZ and supporting its long-term industrial development objectives.NationalGrid-Pakistan remains committed to a transmission network that powers every region and brings the benefits of development to communities across the country. STAFF REPORT
due to a lack of funds. The chief minister announced that an electric bike scheme for students would also be launched in the coming days, under which pink bikes would be provided to girls and black bikes to boys. The initiative, she said, would facilitate students' daily commute. She added that the law and order situation had been improved to ensure the safety of girls travelling independently on motorcycles. “Every son and daughter in Punjab enjoys a sense of security. Everyone knows that they are safe in Punjab. Punjab is the only province providing laptops, scholarships and electric bikes to students,” she said, adding that the province also honoured its students with a Guard of Honour. Maryam Nawaz said development came to a halt as soon as one crossed Punjab's borders, where neither colleges nor roads had been built and public transport facilities remained unavailable. “I am not a mother who merely points out problems; I work day and night to resolve them,” she remarked. Expressing satisfaction over the educational initiatives in Attock, she said she was delighted to see a Grammar School alongside a Nawaz Sharif School of Eminence upon entering the district.
MG Motor Pakistan Reaffirms MG HS Super Hybrid Pricing Amid Proposed Auto Policy Changes
LAHORE STAFF REPORT
MG Motor Pakistan has reaffirmed the current manufacturer’s suggested retail price (MSRP) of PKR 10,199,000 for the All-New MG HS Super Hybrid, providing clarity amid ongoing discussions surrounding proposed vehicle taxation changes under the draft Auto Policy 2026–31. When MG introduced the All-New MG HS in April 2026, its Hybrid+ and Super Hybrid variants were launched at introductory prices calculated on the basis of an 8.5% GST rate. Following the expiry of the previous Auto Policy’s tax provisions on 1 July, the applicable GST rate for affected hybrid vehicles increased to 25%. MG maintained the Super Hybrid’s MSRP at PKR 10,199,000. Subsequently, a government notification dated 14 September 2026 revised GST to 18% for the relevant category of hybrid vehicles. Following this change, MG revised the price of the HS Hybrid+ to PKR 9,999,000, while the Super Hybrid’s MSRP remained unchanged.
UBL named Best Bank of Year 2025 by CFA Society Pakistan
LAHORE STAFF REPORT
United Bank Limited (UBL), Pakistan’s leading bank, has been recognised as Best Bank of the Year 2025 in the Large Banks Category by CFA Society Pakistan at the 23rd Annual Excellence Awards. The recognition acknowledges the Bank’s financial strength, sustained growth and continued commitment to excellence across the banking sector. With a deposit base of PKR 6.5 trillion, a nationwide network of over 2,200 branches, a capital base of PKR 529 billion and a workforce of more than 35,000 employees, UBL has established a strong presence across Pakistan’s financial landscape. The Bank also places special emphasis on inclusive employment, by maintaining a significant female workforce, while at the same time creating career opportunities for the youth of the country. Through these initiatives, UBL continues to contribute to employment generation, diversity and broader economic participation. In addition to being named Best Bank of the Year, UBL received recognition in three other categories at the awards ceremony. These included the Best ESG Reporting Award 2025 (Winner), Corporate Finance House of the Year (January 2025 to June 2026) – Fixed Income (Runner-Up), and Best Digital Banking Services of the Year 2025 – Commercial Banks (Runner-Up). The multiple accolades reflect UBL’s performance across key areas of banking.
PAKISTAN OFFERS BANGLADESH SUPPORT IN MANAGING ENERGY CRISIS
Wednesday, 4 November, 2026
PRAYER TIMINGS
NEWS
P
ISLAMABAD
STAFF REPORT
AKISTAN has offered to share its experience with Bangladesh in managing the energy crisis triggered by the Middle East conflict and disruption to supplies through the Strait of Hormuz. Petroleum Minister Ali Pervaiz Malik made the offer during a meeting with Bangladesh’s Adviser on Finance Rashed Al Mahmud Titumir in Islamabad, where the two sides discussed the impact of the regional conflict on global energy markets and fuel supplies. Both countries exchanged views on measures being taken to maintain uninterrupted supplies and reduce the impact of volatile international energy prices on their economies. Malik briefed the Bangladeshi official on Pakistan’s efforts to secure fuel
supplies under difficult global conditions and discussed targeted fuel subsidies introduced to provide relief to consumers. Titumir outlined Bangladesh’s measures to strengthen fuel security and said
PHC seeks larger bench to hear petitions over missing KP leaders PESHAWAR
Police challan clears five suspects of rape in foreign women's case LAHORE
STAFF REPORT
STAFF REPORT
The Peshawar High Court (PHC) on Tuesday referred petitions concerning the whereabouts of non-functional Khyber Pakhtunkhwa Chief Minister Sohail Afridi, Provincial Assembly Speaker Babar Saleem Swati and MNA Junaid Akbar to the chief justice for the constitution of a larger bench. A two-member bench comprising Justice Syed Arshad Ali and Justice Muhammad Faheem Wali said the matter should be heard by a larger bench and referred it to the chief justice. Advocate General Sanaullah also supported the proposal, saying the government had requested the formation of a larger bench. During the hearing, petitioners’ counsel Advocate Bashir Khan Wazir told the court that Afridi and Swati had been missing for several days. He claimed that the KP governor and his advisers had confirmed that the chief minister, speaker and Junaid Akbar were in protective custody. Wazir also referred to an immunity bill passed by the provincial assembly concerning the speaker and assembly members, arguing that the chief minister, speaker and other lawmakers could not be arrested. Justice Arshad Ali observed that the matter concerned the province’s chief minister and assembly speaker, who were not ordinary personalities. He said the case could not be treated as a routine matter under Section 3 of the Maintenance of Public Order Ordinance (MPO). “This is an important case, the province’s chief minister is missing,” the judge remarked. The advocate general sought time to submit a report, saying information had been requested from the police, law enforcement agencies and the Home Department. He also pointed out that more than 200 cases had been registered under MPO-3. Justice Ali, however, reminded him that the court had already granted 10 days for submission of the report and observed that the government was not complying with its orders. Another counsel for the petitioners, Yasir Khattak, alleged that court directives were being ignored. He cited an earlier order for the de-sealing of the residence of the provincial assembly deputy speaker, which, he said, had yet to be implemented by the authorities. He accused the officials concerned of committing contempt of court. KP Bar Council member Farooq Ahmed Khattak also urged the authorities to inform the court if the officials had been taken into custody under MPO-3.
ECP issues show-cause notice to MQM-P for failing to hold intra-party elections ISLAMABAD
STAFF REPORT
the crisis had underscored the need to make energy security a central part of national policymaking. He also stressed the importance of diversifying energy sources and supply
The Election Commission of Pakistan (ECP) has issued a show-cause notice to Muttahida Qaumi MovementPakistan (MQM-P) for failing to hold intra-party elections within the prescribed deadline. According to the ECP, MQM-P failed to fulfil the legal requirements for conducting intra-party elections despite being granted an extension until October 15, 2026. However, the party did not hold the elections within the extended period. In its notice, the ECP stated that conducting intra-party elections is mandatory under the Elections Act, 2017. Political parties are also required to submit an election certificate to the commission within seven days of completing their intra-party polls. The commission has given MQM-P fourteen days to respond to the show-cause notice, warning that further action would be taken in accordance with the law if the party fails to submit its reply. The notice further states that failure to conduct intra-party elections could render MQM-P ineligible to obtain an election symbol.
routes to reduce exposure to future global disruptions. The Bangladeshi adviser praised Pakistan’s diplomatic efforts aimed at deescalating the conflict involving Iran and said regional stability was important for the global economy. He also acknowledged Pakistan’s efforts to secure LNG cargoes from Qatar despite disruptions affecting the Strait of Hormuz. Malik said the current situation had highlighted the need for preparedness, diversification and greater regional cooperation in managing energy shocks. Pakistan expressed willingness to share lessons from its own response with Bangladesh as both countries work to strengthen energy security. The two sides agreed to continue engagement and exchange experiences to improve resilience against future disruptions to global energy supplies.
An incomplete police investigation report submitted to a trial court in connection with the alleged gang rape of two foreign women in Lahore has cleared five suspects, including a man reportedly linked to a senior government minister, of sexual assault charges, while implicating them in other offences, including illegal confinement and extortion. The report charged three other suspects, described by the defence as low-paid employees of one of the key accused, with sexually assaulting the women. Defence C police registered the case in July under Sections 365-A (kidnapping or abducting for extortion), 375-A (rape), 201 (causing disappearance of evidence), 368 (wrongfully concealing or confining a kidnapped or abducted person) and 337-L(II) (punishment for other hurt) of the Pakistan Penal Code. According to the investigation report, the complainants told police they had met one of the three prime suspects in Singapore in 2025 and invited him to invest in their cryptocurrency business. After receiving returns on his
initial investment, the suspect allegedly invested a further $500,000. However, the women reportedly neither paid him profits nor returned the investment. In June this year, the suspect invited the women to Pakistan on the pretext of arranging a meeting with another investor. They stayed at a hotel in Islamabad before travelling to Murree and other areas. The report alleged that the suspect later told an associate that the women owed him money. The associate then involved another prime suspect, identified as “boss”. On June 29, the women were taken to a house in Defence Phase VII, Lahore, where they were allegedly held against their will and pressured to pay the amount. Police said the women were forced to transfer around $19,500, which was converted into rupees through a Lahore-based account. Two suspects reportedly received Rs1.1 million each. According to the report, the complainants alleged that armed men guarded them at the house and threatened them with a knife, a gun and a broken piece of mirror. They were also warned that they would be killed and their body parts sold if they failed to meet the demands. The investigation found evi-
dence indicating that three suspects had sexually assaulted the women. However, police said they found no evidence of rape against the remaining five suspects, including the relative of the political figure and the man identified as “boss”. The report stated that the women escaped on July 1 when the car taking them to the airport met with an accident near Bhatta Chowk. They raised an alarm, prompting the relative of the senior political figure to flee, while police took the women into their protection. Police also claimed to have recovered Rs4.3 million allegedly extorted from the women, along with a mobile phone and a vehicle purportedly used in the crime. Pistols and a rifle were also recovered, leading to separate cases under the Arms Ordinance, the report said. Another suspect was accused of renting out the house to the group without informing the authorities, while a further suspect was allegedly involved in destroying evidence. Police said these allegations led to the addition of Sections 368 and 201 to the case. The complainants underwent medical examinations, and their statements were recorded before a magistrate under Section 164 of the Code of Criminal Procedure.
Maryam sends Rs5b defamation notice to Salik over corruption allegations LAHORE
ZUHR
ASR MAGHRIB ISHA
6:13
1:30
4:00
ment he considered corrupt. The chief minister claimed the dispute stemmed from her decision to replace the deputy commissioner of Gujrat, alleging that Salik had wanted an officer of his own choice appointed to the post. “I will not allow anyone to interfere in the will of the people,” she said. Maryam also rejected Salik’s praise for Elahi, whom he had described as the best-ever chief minister of Punjab. Recalling her visit to Gujrat around two years ago, she said the city had suffered severe flooding, with rainwater rising to neck level and submerging her Land Cruiser. She claimed the situation had
since improved, saying rainwater no longer accumulated in the city and that the development work had not been carried out during Elahi’s tenure. The PML-N subsequently announced on X that the defamation notice had also been sent to ARY News host Naeem Ashraf Butt and the channel’s chairman, Muhammad Iqbal. The notice said the office of the chief minister carried substantial public responsibility and required the highest standards of integrity and credibility. It argued that allegations of dishonesty or corruption broadcast to millions of viewers through electronic and digital media constituted a serious matter.
KARACHI
A sharp rise in liquefied petroleum gas prices is squeezing rickshaw drivers and other lowincome consumers across Pakistan, with some drivers saying higher fuel costs are forcing them to cut spending on food and other essentials. LPG, widely used by rickshaws and households without access to piped gas, has become significantly more expensive amid supply disruptions and volatility in regional energy markets. Drivers said the increase had raised their daily operating costs while fares had not
risen enough to compensate. For many, the result has been a direct reduction in take-home income. Some rickshaw operators said they were working longer hours to earn the same amount they previously made, while others were cutting household expenses to manage higher fuel bills. LPG is often described as a fuel of the poor because it is heavily used by lower-income households and transport workers who have limited alternatives. The impact is particularly severe for rickshaw drivers because fuel costs account for a large share of their daily expenses. Recent disruptions to supplies through
the Pakistan-Iran border had added pressure to the market, although cross-border LPG movement has since resumed. Industry representatives expect improved supplies to help ease prices, but consumers say the relief has yet to fully reach the retail market. Higher LPG costs have also affected households that depend on cylinders for cooking, particularly in areas without natural gas connections. The price increase comes as lower-income families continue to face pressure from food, transport and utility costs, leaving little room to absorb another rise in essential expenditure.
7:00
ISLAMABAD
RAJA KASHIF ASHFAQ
In a major policy shift, the Capital Development Authority (CDA) has imposed an immediate and complete ban on the direct allotment of rehabilitation plots and agro farms based on General Power of Attorney (GPA), Agreements to Sell, or private contracts. Under the new directives, initial allotments will no longer be issued directly in the names of attorney holders or buyers. The decision was formalized through a stringent policy directive (Notification No. 7708) issued by the office of Member (Estate) CDA, Muhammad Zaman Wattoo. The notification explicitly states that the ban applies with immediate effect to all pending cases as well as future allotments, while cases referred by judicial courts remain exempt. In its policy document, the CDA cited several landmark rulings from the Supreme Court of Pakistan and the Islamabad High Court. Referencing the apex court’s ruling in Rashida Begum v. Muhammad Yousaf (2002 SCMR 1089), the authority highlighted that an agreement to sell does not, in itself, create any legal title or ownership rights over an immovable property. Similarly, citing an Islamabad High Court verdict (RFA No. 113/2018), the directive emphasized that prior to the formal demarcation or allotment of a plot by the CDA, prospective rights cannot be transferred through a Power of Attorney or private agreement. The policy shift follows an internal investigation initiated by Member Estate Muhammad Zaman Wattoo, which uncovered a massive scam involving forgery and internal collusion. According to the inquiry findings, corrupt CDA officials had colluded with a network of GPA holders and active middlemen to deprive genuine land affectees of their rightful claims. In one particularly alarming instance, a single GPA holder was allotted 22 plots, despite the fact that the original affectees had already been compensated in the 1970s with over 150 kanals of land in Vehari district. Investigations revealed that files and balloting for fraudsters and middlemen were expedited on priority, while legitimate affectees faced deliberate delays for years, forcing many to sell their claims to these middlemen at throwaway prices out of desperation. The directive further noted that under Regulation 12 of the Islamabad Land Disposal Regulations 2005, the direct allotment of agro farms based on a General Power of Attorney is strictly illegal. To ensure complete transparency and eradicate fraudulent and double allotments, copies of the notification have been dispatched for immediate compliance to the Director General (Land & Revenue), Deputy Commissioner CDA, Director General (Law), and Staff Director to the Chairman CDA.
IHC grants protective bail to TikToker in Sialkot stampede case ISLAMABAD
The Islamabad High Court (IHC) on Tuesday granted protective bail to TikToker Muhammad Ansar Jatt, popularly known as “Mr Pattlo”, in a case registered after a stampede at his mehndi ceremony in Sialkot left two people dead and 18 others injured. Chief Justice Sardar Muhammad Sarfraz Dogar approved the protective, or transitory, bail until November 10, allowing Jatt time to approach the relevant court for legal relief. The TikToker appeared before the court in a wheelchair. Jatt had moved the IHC seeking protection from arrest before he could approach the court of competent jurisdiction. The petition was filed on his behalf by Barrister Qasim Nawaz Abbasi and Barrister Raja Ali Abbas Jalap. According to the petition, an FIR was registered against Jatt and others on October 31 at Motra Police Station. It named his brother, the owner of Faraz Cricket Ground, six other individuals and 40 to 45 unidentified security guards. The case was registered under Sections 322, 440, 431, 148, 149, 188 and 109 of the Pakistan Penal Code, read with Section 16 of the Punjab Maintenance of Public Order Ordinance, 1960. During the hearing, Jatt’s counsel acknowledged that the FIR had been registered outside the IHC’s territorial jurisdiction. However, they argued that protective bail was sought only to enable a suspect within one court’s jurisdiction to reach the court concerned without facing arrest en route. “The merits of the case are not required to be examined at this stage,” the petition stated, arguing that denying protection would effectively deprive Jatt of the opportunity to seek pre-arrest bail before a Sialkot court.
LPG price surge forces Pakistan rickshaw drivers to cut meals STAFF REPORT
5:20
CDA clamps down on illegal allotment of plots via power of attorney and sale agreements
STAFF REPORT
STAFF REPORT
Punjab Chief Minister Maryam Nawaz on Tuesday issued a Rs5 billion defamation notice to Federal Minister for Overseas Pakistanis Chaudhry Salik Hussain, demanding that he retract allegations of corruption against her government or face legal action. The notice followed Salik’s remarks during a television interview on Monday, in which the Pakistan Muslim League-Quaid (PML-Q) leader praised former Punjab chief minister Chaudhry Pervez Elahi but accused the current provincial administration of allowing political considerations to influence development priorities and public spending. He also alleged that a disproportionate share of Punjab’s development budget was being spent in Lahore. Speaking at a ceremony in Attock on Tuesday, Maryam said she had received Salik’s remarks about corruption and was sending him a defamation notice. “I will not hear false allegations of corruption. If you have evidence, bring it forth — otherwise I will drag you to court,” she said, questioning why Salik continued to serve as a minister in a govern-
FAJR SUNRISE 5:40
Published by Asad Nizami at Qandeel Printing Press, 4 Queens Road, Lahore, for PT Print (Pvt) Limited. Ph: 042-36300938, 042-36375965. Email: newsroom@pakistantoday.com.pk