PM REITERATES COMMITMENT TO WORK FOR SUSTAINABLE ECONOMIC DEVELOPMENT
PM invites Bahrain’s businessmen to invest in Pakistan
receive refugees repatriated from Pakistan The spokesperson’s comments come a day after the Afghan Embassy in Islamabad in a statement echoing the words of the acting Afghan Charge d Affaires alleging that Afghan refugees in Pakistan were being arrested without warning or formal correspondence and that the Pakistani government intended to expel all Afghans, even those with documents permitting their stay The embassy alleged that Afghan nationals in Islamabad and Rawalpindi were recently subjected to arrests searches and orders from the police to leave the twin cities and relocate to other parts of Pakistan I would like to remind him that Pakistan has hosted millions of Afghans for decades with respect and dignity, while extending traditional hospitality, sharing its resources and services such as education and health even with very little international support the FO spokesperson said He added that there were mechanisms within Pakistan s Illegal Foreigners Repatriation Plan (IFRP) to ensure that no one is mistreated or harassed during the repatriation process
“We also extensively engaged the Afghan side to ensure smooth repatriation of Afghan nationals ” Khan added While Pakistan has done what it could we expect interim Afghan authorities to create conducive conditions in Afghanistan so that these returnees are fully integrated into the Afghan society Khan added, The real test of Afghan authorities would be to ensure that rights of these people about whom the Afghan Cd’A (Charge d’Affaires) talked are protected in Afghanistan ”
at the esteemed Royal Military Academy Sandhurst During the visit COAS will deliver the keynote address on “The Emerging World Order and Pakistan s Future Outlook said an ISPR news release The Stabilization Conference serves as the premier platform for Army-to-Army dialogue between Pakistan and the United Kingdom held annually to foster collaboration The event brings together a balanced representation of policymakers, both civil and military, as well as members of prominent think tanks from both nations This year ’s conference holds particular significance in light of the rapidly evolving geopolitical landscape providing an invaluable opportunity to exchange perspec-
tives and explore pathways for enhanced bilateral cooperation On the inaugural day of his visit, General Syed Asim Munir was accorded a warm and dignified welcome, including a ceremonial Guard of Honour at the historic Royal Horse Guards Parade Ground presented by an impeccably turned-out contingent During his visit, the COAS will engage with key members of the UK’s civil and military leadership to discuss matters of mutual
interest His engagements will include meetings with Mr Adm Toney Radikon Chief of Defence Staff UK, General Sir Roland Walker,
One passenger, Zeeshan Mustafa, a
ident of Burewala travelling to Multan reported that the assailants took his brother away after checking his identity card The gunmen numbered between 10 to 12 were armed with Kalashnikovs , Zeeshan said The security forces cordoned off the area and launched a search operation to apprehend the perpetrators Following the incident two-way vehicular traffic on the National Highway connecting Punjab to
Power consumers likely to get Rs. 2/unit relief in Januar y FC A
Korean and Turkish; while local languages include Sindhi, Balochi and Pashto
These comprehensive resources provide practical steps, clear guide, and essential insights into company registration procedures
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plified by reviewing existing 10 regulations and merging/omitting multiple forms resultantly reducing the number of statutory forms from 75 to 28, eliminating duplication, and ensuring clarity In this regard, consolidated single set of “Companies Regulations 2024” was issued on 12th February 2024 covering the regulations for company incorporation and post-incorporation compliance and reporting, issuance of license under Section 42 of the Companies Act, 2017, further issue of share capital group registration easy exit of companies buyback of shares registration of intermediaries etc
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RS3.7B FROM GAS INFRASTRUCTURE DEVELOPMENT CESS USED FOR LOAN REPAYMENTS,
of Commerce, similarly voiced her disapproval, asserting that the amendment to Section 11 of the Act should be reconsidered
Exper ts c all solution to energy crisis, climate change key to long-term economic development
Finding a sustainable solution to the energy crisis and climate changes is the key to Pakistan’s long-term economic development, Prof Dr Zahoorul Haq emphasized, underscoring innovation and modern approaches in the struggle towards becoming a prosperous nation Vice Chancellor Prof Dr Zahoorul Haq was speaking at the inaugural session of a two-day International Conference on Energy, Power, Environment, Control and Computing (ICEPECC-2025) opened at Hafiz Hayat Campus of the University of Gujrat on Wednesday The conference which is organized by the Faculty of Engineering and Technology of the UoG and the GIFT University Gujranwala, provides a collaborative platform for scientists, engineers and experts to share innovative trends challenges and solutions related to
sustainable energy, power, environment,
Pakistan posts $420m current account deficit in Januar y as impor ts surge
totaling 50 8 million shares The remaining 25% (16 93 million shares) will be offered to retail investors during the public subscription on February 24 and 25 Proceeds from the IPO will be used to establish a new production facility in the Special Economic Zone of Faisalabad Currently operating a manufacturing plant in Karachi the company plans to increase its pasteurized egg production capacity by 71%, expanding from 17,000 tons to 29,000 tons per year with the new facility
ON the weekend of February 7th Lahore s Expo Centre in Johar Town was a study in contrasts In one section the city s annual Book Expo was underway, a celebration of literature and learning that has long been a cultural mainstay for Pakistan’s intellectual elite But just next door in halls 1 and 2 a very different kind of exhibition was taking place: the Vape Expo Pakistan 2025 The scene was surreal a pulsating neon-lit carnival of indulgence that felt more like a nightclub than a trade show Long lines of young men, many barely out of their teens, shuffled impatiently to enter Inside, the air was thick with candy-scented vapor, throbbing basslines, and the glow of flashing lights Stalls from international vape brands dominated the floor offering everything from free samples to disposable vapes that doubled as cellphones and speakers The event was a spectacle of consumption, a stark reminder of Pakistan s unlikely status as a vaping haven But beneath the surface of this glittering facade lies a troubling reality Pakistan’s vaping industry is booming fueled by a regulatory vacuum a young and impressionable population and a flood of untaxed smuggled products As the rest of the world grapples with the health risks and societal implications of vaping, Pakistan has emerged as an unlikely sanctuary for an industry under siege This is not just a public health crisis in the making; it is a cautionary tale of how regulatory neglect and corporate opportunism can converge to create a perfect storm
G Pakistan checks all the boxes for the vape industry With a median age of just 22 7 years, the country has one of the youngest populations in the world a demographic that is particularly susceptible to the allure of vaping Add to this a laissez-faire approach to health regulations weak enforcement mechanisms and a customs system riddled with corruption and you have a market ripe for exploitation Perhaps most importantly, Pakistan shares a border and strong
required police escorts as per government regulations The event itself was surrounded by sharply dressed commandos from the Punjab Police’s Elite Force a surreal juxtaposition of security and indulgence The numbers tell the story of an industry in overdrive In just three years retail sales of e-vapour products in Pakistan have more than doubled, growing from Rs 2 8 billion in 2021 to over Rs 6 4 billion in 2023 This explosive growth has been driven by aggressive marketing low prices and the widespread availability of products But there’s a darker side to this boom: as of 2024 virtually all
vapes sold in Pakistan are smuggled into the country evading taxes and regulatory scrutiny A R E G U L ATO RY VA C U U M
The absence of regulation is not just an oversight; it is an invitation While countries like the United States, the United Kingdom, and even China have moved to ban or heavily regulate vaping, Pakistan has done little to address the industry’s rapid expansion This regulatory vacuum has created a free-for-all where manufacturers distributors and retailers operate with impunity At the Vape Expo, this lack of oversight was painfully evident Stall after stall showcased products that would never pass muster in more regulated markets Disposable vapes with flashy designs and gimmicky features were marketed aggressively often with little regard for their potential health risks The event itself felt like a microcosm of an industry that has been allowed to run wild, unchecked by the kind of oversight that has become commonplace elsewhere But the consequences of this neglect extend far beyond the Expo Centre Vaping is often marketed as a safer alternative to smoking but the long-term health effects remain poorly understood Studies have linked vaping to respiratory issues cardiovascular problems and even addiction to nicotine For a country already burdened by public health challenges, the unchecked growth of the vaping industry is a ticking time bomb T H
Perhaps most impor tantly, Pakistan shares a border and strong trade ties with China, which manufactures more than 90% of the worldÊs ecigarettes and vaping products This proximity has made it easy for cheap, often unregulated vapes to flood the Pakistani market At the Vape Expo, this reality was on full display Nearly every stall had Chinese nationals present, many of whom required police escor ts as per government regulations The event itself was surrounded by sharply dressed commandos from the Punjab PoliceÊs Elite Force, a surreal juxtaposition of security and indulgence
S h i f t i n U S - U k r a i n e r e l a t i o n s
embolden Putin and other autocrats who would see America s retreat as a green light to pursue their own expansionist ambitions And it would undermine the credibility of the United States as a reliable ally, making it harder to build coalitions and counter threats in the future
D C O M M
M E N T In the face of Trump s rhetoric it is more important than ever for the United States to reaffirm its commitment to Ukraine This is not just a matter of principle; it is a matter of strategic necessity Ukraine’s fight is not just about its own survival; it is about defending the rules-based international order that has underpinned global stability for decades If the United States abandons this fight it will not only betray a key ally but also jeopardize its own security and prosperity Congress must act to ensure that U S aid
Fighting childhood cancer
about the future of democracy itself Trump’s “dictator” jab at Zelensky is more than just a personal attack; it is a warning sign of the dangers that lie ahead If the United States turns its back on Ukraine it will not only betray a friend but also undermine the very values it claims to uphold The time to stand with Ukraine is now before it is too late The writer is a freelance columnist
to seek timely medical advice The potential for change is significant Studies show that with timely intervention survival rates for childhood cancers can be remarkably high Treatments such as Chemotherapy and Radiation have encouraging long-term survival rates, transforming cancer from a death sentence into a manageable illness By promoting awareness about the types of cures and therapies
Vaccination access
hAmid BAig
TAgainst all odds, the landa bazaar has become the major hub for these clothes
More importantly, there is a growing trend of young, enterprising women with a keen eye for clothes going to the landa, finding the best products there, bringing them home and selling them at a profit on Instagram
t l e t t h a t h a s g row n s i g n i f i c a n t ly ov e r m o s t m a j o r c i t i e s i n t h e c o u n t r y A s m a l l
What happened to the Asian century?
These women often wash, model, photograph, market, and ship these clothes themselves out of college dorm rooms
BRISE OF CHINA AND INDIA: The renaissance of China and India seemed to confirm the advent of an Asian Century Under Deng Xiaoping s leadership China began opening its economy in 1978 and developed rapidly Development was interrupted by the tragic Tiananmen Square incident in 1989 But soon after it was rebooted – and accelerated following its membership of the World Trade Organization in
Over the past 40 years the number of
with
in
$1 90 per
accounting for
Cold War the United States’ “unipolar moment of the 1990s did not last long
The notion that the United States and other Western countries could serve as a beacon for emerging economies was quickly shattered The postSeptember 11 wars in Afghanistan and Iraq brought great discredit to the United States as a world leader The global financial crisis in 2008 also brought great discredit to the U S model of freewheeling financial capitalism
real
by
three-quarters of
since 1980 In purchasing power
terms,
GDP is already above that of the United States but somewhat below in market price terms But its GDP per capita of $13 000 is well below that of the United States at $85 000 India has also made substantial progress following reforms launched in 1991 after a financial crisis Its population recently overtook that of China as the world’s largest – at 1 4 billion However its GDP per capita is less than $3 000 Although its GDP is the fifth-biggest in the world it is only 20% of China s
The fact that many bankers were saved by bailouts while ordinary citizens suffered undermined U S domestic support for open markets This came on top of yawning inequality and deindustrialization in the United States due to globalization and technological change These perceptions of social injustice ultimately fostered the rise of Donald Trump and his illiberal politics and trade protectionism and undermined the prospects for an Asian Century Such factors were also behind Brexit, the UK s decision to leave the European Union
IJ o h n w e s t r ta
rise This is not only unstoppable, it is gathering pace ” But in less than a decade those confident visions of an Asian Century seem to have faded from view Let us back up and see how we got here
ORIGINS OF THE ASIAN CENTURY VI-
SION: Following the end of the Second World War many saw little hope for an economic renaissance in Asia a continent that had been destroyed and suffered from widespread poverty and overpopulation This view was epitomized by the 1968 study Asian Drama: An Inquiry into the Poverty of Nations by the Nobel-Prizewinning Swedish economist Gunnar Myrdal But at the same time, another reality was developing Against the backdrop of the emerging Cold War the United States decided to transform its former enemy Japan into a close ally Japan would develop rapidly thanks to U S support and open markets, strong human capital, an entrepreneurial culture and government guidance
The year 1964 was pivotal in Japan’s story Tokyo hosted the 1964 Olympic Games and Japan also unveiled its first bullet train that year running from Tokyo to Osaka In addition, Japan also joined the OECD – the club of advanced democratic economies
FOLLOWING JAPAN: TAIWAN, SOUTH KOREA, SINGAPORE AND HONG
KONG: Following Mao Zedong s victory in the Chinese Civil War in 1949 the United States supported its wartime ally Chiang Kai-shek and his Republic of China regime regarding Taiwan The island’s economy developed rapidly and democratize during the 1980s and 1990s South Korea emerged as a non-communist country from the 1950-53 Korean War It developed very strongly from the 1960s and in 1987 it held its first presidential elections Korea also joined the OECD in 1996 Under the leadership of
DISAPPOINTMENT IN RUSSIA: Russia is Asia’s largest country in terms of land area and arguably the richest in terms of natural resources endowment As Asia’s leading economies are resource-poor this should have made it one of the greatest beneficiaries of an Asian Century
Following the end of the Cold War and the breakup of the Soviet Union, Russia experienced great instability during the 1990s under Boris Yeltsin’s leadership However Vladimir Putin’s leadership after 2000 brought stability to Russia
To this day the Russian economy remains highly dependent on natural gas and oil exports and is otherwise relatively backward with regard to human resources and lack of opportunity and poor governance have caused a massive brain-drain Military adventurism in Ukraine Syria and elsewhere – along with grey zone operations – is having devastating impacts on the Russian economy and society –as well as its relations with other countries
ASIAN CENTURY DREAM: True, sound domestic policies – such as investments in human capital and infrastructure open markets for trade and investment and improved governance – have driven Asia s successful economies But Asia has also benefited from the United States and other Western countries which have provided direct assistance, offered open markets and welcomed international students Such “strategic engagement” was based on the hope that these emerging economies would see growing middle-class societies – which would demand open and clean governance and ultimately democracy as indeed happened in the cases of Korea and Taiwan The historic success of the United States and other Western countries was meant to serve as a beacon There was also the hope that Asia’s emerging economies would partner with the United States and the West in tackling global issues like climate change pandemics artificial intelligence and cyber–security and would, more generally, be partners in the rules-based order But this Asian Century dream was not to be
SHATTERING OF THE ASIAN CEN-
TURY DREAM: Following the end of the
ASIA’S DYNAMIC ECONOMIES LOSE THEIR LUSTERL: Many of Asia s once-dynamic economies are now struggling to maintain their momentum Poor demographics have contributed to Japan s stagnation these past three decades Korea and Taiwan are now also feeling the effects of aging populations For its part China’s economy is also being hit by rapid population aging China will grow old before it becomes rich in GDP per capita in contrast to Japan Korea and Taiwan But China s economy is also being buffeted by Xi Jinping s tightening the screws on the private sector and a loss of confidence in China by many foreign investors Countries like India the Philippines and Indonesia with large and energetic youthful populations are unable to generate enough jobs – and thus do not benefit from a demographic dividend In sum, the period where Asia s growth drove the world economy may now be fading from view
ILLIBERAL PIVOT IN ASIA: During the 2000s there were hopes and signs that China might become more politically open But this gradually changed with Xi Jinping s ascension to the leadership Xi s regime is characterized by assertiveness on the international front, repression of domestic society and a shift away from market economics China’s international assertiveness has not only targeted the United States and Europe Japan Taiwan the Philippines India and Australia not to mention Hong Kong, have been among China s targets Overall, Xi s policies are driven by ideology and the desire to shore up the regime’s security In light of China’s illiberal pivot, India has emerged in the eyes of many as the great white knight that will join forces with the West in its competition with China This is short-sighted despite India s own difficult relationship with China India has and will always go its own way Strategic autonomy is the essence of India s DNA Under Narendra Modi’s leadership, India has taken an illiberal turn with Hindu nationalism and persecution of its Muslim minority India has long had a close relationship with Russia And while Western countries have implemented harsh sanctions on Russia, India has taken advantage by becoming one of the biggest buyers of Russian oil
John West is executive director of the Asian Century Institute
NDIAN Prime Minister Narendra Modi was in Washington D C this week and met President Donald Trump on February 13 The two leaders reaffirmed the importance of this blossoming strategic relationship and hinted at important new ways they plan to operationalize the partnership Most significantly the two leaders stated their shared intention to negotiate a bilateral trade initiative (BTI) with a plan to conclude a first phase later this year In the area of defense cooperation, there was a reaffirmation of equipment sales, exercises, and promises of relaxing U S export controls including for fifth-generation fighter planes and undersea systems The leaders also hinted that we may see significant new steps in military interoperability With losses by many incumbents democratically elected leaders in recent years Prime Minister Modi is a relatively rare “known figure” to President Donald Trump This familiarity and senior-level connectivity in recent months were on display as the visit yielded a far more aspirational agenda than would have otherwise been possible just weeks into a new administration The drivers for this partnership are well-known During President Trump s current term India should leap over both Japan and Germany to become the world s third-largest economy The two nations have shared concerns about the dangerous elements of China’s rise India is the largest source of both foreign students and skilled immigrants coming to the United States The United States is India s most significant economic partner India has double the level of goods exports to the United States as it exports to any other nation Over 54 percent of India’s exports of software and services come to the United States While India did not include new relaxations of trade barriers as part of the set of formal outcomes the preemptive reduction in several tariff lines in the February 1 Indian Union Budget was noted by the Trump administration Announcements of investments by Indian firms into the United States did feature in the joint statement WHAT IS NEW? The most significant new announcement is the intention to negotiate a BTI With scars from negotiations at the World Trade Organization and a disjointed attempt to negotiate a Bilateral Investment Treaty in the closing months of the George W Bush administration there has been little interest in aspirational trade talks Even the mini-deal that was nearly concluded during the last Trump administration was more of an armistice than a market-opening agreement But India has become much more open to
and jointly improve regional security Another significant reference in the joint statement was the U S plan to review its policy on sharing fifth-generation fighter planes and undersea systems President Trump specifically mentioned a potential pathway to selling F-35 fighter planes to India
REMAINS?
TRUMP HINTS AT MEETING PUTIN, CRITICISES
UKRAINE FOR STARTING CONFLICT
C hina c alls on all par ties to accelerate two -state solution on G aza
BEIJING
China calls on all parties to accelerate the two-state solution and support the establishment of an independent Palestinian state based on the 1967 borders said Chinese Foreign Minister Wang Yi on Tuesday Behind the Gaza conflict is the delay in resolving the question of Palestine Wang also a member of the Political Bureau of the Communist Party of China Central Committee told the media after chairing the United Nations Security Council s high-level meeting on Practicing multilateralism, reforming and improving global governance ”
The question of Palestine has always been at the core of the Middle East issue, Wang said, noting that until the two-state solution is implemented the logic of repaying grievance with grievance will not cease and the cycle of violence will not end Wang said all parties in the Middle East should transcend differences to support the establishment of a Palestinian state and the United Nations should take action to admit Palestine as a full member state Wang noted that Gaza is a Palestinian homeland and a part of Palestinian territory, and should not be a victim of international politics Wa n g s a i d
cerned should continue to implement the ceasefire agreement and c
up negotiations
The principle of “the Palestinians governing Palestine” should be upheld in the post-war governance of Gaza in line with the twostate solution with an ultimate goal to achieve peaceful coexistence between Palestine and Israel, as well as long-term peace and stability in the Middle East he said (Cover: Chinese Foreign Minister Wang Yi answers questions from the media after chairing the United Nations Security Council s high-level meeting on Practicing multilateralism, reforming and improving global governance” in New York U S
Islamophobia: Woman charged with assaulting two Muslim women over head coverings in Australia
A 31-year-old woman from Melbourne has been charged with assaulting two Muslim women at a shopping centre in what authorities have described as a suspected Islamophobic attack The incident which occurred on February 13 at Epping Shopping Centre saw the woman allegedly targeting the victims because they were wearing head coverings According to police, the woman grabbed and choked a pregnant 30-year-old woman using her hijab before assaulting another 26-year-old woman in a separate attack Both victims suffered non-lifethreatening injuries The attack has drawn widespread condemnation Australian Prime Minister Anthony Albanese described the incident as reprehensible and reaffirmed his commitment to tackling all forms of religiousbased violence I take all attacks on people based on their faith seriously, and they should all face the full force of the law ” he said Albanese also responded to criticism from Muslim communities including international cricket player Usman Khawaja who accused the government of not doing enough to combat Islamophobia
The charge comes amid rising concerns about hate crimes in Australia especially in the wake of tensions following recent conflicts in the Middle East Australia has been grappling with an increase in Islamophobic and anti-Semitic incidents, particularly since October 2023, when violence erupted between Hamas and Israel Police in Melbourne said the woman who was arrested and charged with assault allegedly targeted the victims due to their religious attire There is absolutely no place in our society for discriminatory, racist, or hate-based behaviour, a police spokesperson said The victims have described the attack as traumatising with one of them Ealaf al-Esawie saying she felt “terrified” and has struggled to move past the experience
legal force and must
Wang said adding
Executive Directors
K I S TA N ’ S F O O D E X P O R T S R I S E T O $ 4 . 62 B I N S E V E N M O N T H S
summit2025, organized by the national Forum for Environment and Health (nFEH) Faysal Bank received recognition in several categories highlighting its ‘Values’ driven mission with a comprehensive approach towards CsR the Bank has consistently demonstrated leadership in sustainable banking, with a focus on financial inclusion, environmental protection, and community development FBL’s CsR initiatives span across education healthcare environmental conservation and disaster relief aligning with both national as well as the United nations sustainable Development Goals (sDGs) Mr Yousaf Hussain, President & CEO of Faysal Bank, upon receiving the awards, said, "this recognition from nFEH is a testament to Faysal Bank’s unwavering commitment to sustainability and responsible banking as we continue to integrate ethical and environmental considerations into our business we remain dedicated to fostering positive change for our communities and the broader economy Al Baraka Pakistan hosts Grand Road
FINANCE MINISTER OUTLINES REFORM AGENDA TO WORLD BANK DELEGATION
members of the group three others remain at large Authorities have formed special raiding teams to track them down using advanced technology Additionally, two of the gang s operatives are believed to be running the scheme from abroad The FIA is actively coordinating with Interpol to bring them to justice Victims have come forward with detailed testimonies exposing how they were misled and financially exploited Officials reaffirmed their commitment to eradicating human trafficking networks and warned the public to be cautious of fraudulent immigration offers The FIA is urging affected individuals to report such crimes as the investigation into the Chinioti gang continues PM meets CJP, requests expeditious disposal of tax matters on merit
ISLAMABAD S TA F F R E P O R T Prime Minister Shehbaz Sharif on Wednesday discussed with Chief Justice of Pakistan (CJP) Yahya Afridi key issues related to the country s judicial system, especial the swift disposal of tax-related cases pending since long in different courts of the country PM Shehbaz met Justice Yahya Afridi at the Chief Justice House and informed him about tax-related cases which had been pending for adjudication since long On the occasion PM Shehbaz congratulated the CJP on assuming his responsibilities and also expressed good wishes for
The Lahore High Court (LHC) on Wednesday set aside the single bench verdict on the removal of the National Database and Registration Authority (Nadra) Chairman Lt-Gen Munir Afsar and admitted the government’s intra-court appeal for hearing A divisional bench comprising Justice Chaudhry Muhammad Iqbal and Justice Ahmed Nadeem Arshad, heard the federal government s appeal and announced the verdict upon completion of arguments
Last year LHC’s Justice Asim Hafeez had nullified the appointment of Lt-Gen Munir Afsar as the NADRA chairman while hearing a complaint filed a woman –Ashba Kamran
The government, in its appeal, argued that the single bench’s verdict on removal of Lt-Gen Munir Afsar was contrary to the facts It stated that the petitioner had chal-
lenged the appointment notification issued by the interim government but had never contested the newly amended rule
The government contended that it had the authority to undertake the rule-making process under Section 44 of the NADRA Ordinance 2000 which included the power to amend the rules It further argued that the chairman s appointment was made in accordance with Rule 7A of the NADRA (Appointment and Emoluments of Chairman and Members) Rules, 2020, and that when discretion is exercised, there is no obligation to issue a public advertisement or conduct a competitive recruitment process
The government urged the bench to overturn the single bench s verdict and reinstate the NADRA chairman’s appointment
Earlier a division bench had reinstated Lt-Gen Afsar as the NADRA chairman after suspending the single bench s decision on September 10 2024
Appointment of Lt-Gen Afsar as Nadra chief
On October 2 2023 Lieutenant General Munir Afsar was appointed as the new Chairman of National Database and Regulatory Authority
The federal cabinet had approved the appointment of Lt-Gen Munir Afsar as Chairman of National Database Registration Authority (NADRA) out of the three names proposed by the Interior Ministry
The cabinet was informed that the selection committee had shortlisted names of the three best candidates for the post of Chairman NADRA
After detailed consideration the cabinet approved the appointment of Lt-Gen Muhammad Munir Afsar as the new Chairman of NADRA
The appointment was made after the then NADRA chief Tariq Malik decided to step down from the post following his meeting with Prime Minister Shehbaz Sharif and formally presented his resignation
O N I T O R I N
S K Pakistan secured $4 585 billion in external loans during the first seven months (July–January) of the current fiscal year 2024-25 marking a decline from $6 31 billion borrowed in the same period last year, according to data released by the Economic Affairs Division (EAD)
The figure excludes the first tranche of $1 03 billion received from the International Monetary Fund (IMF) If IMF inflows are factored in, total external financing during this period stands at $5 585 billion
The government had originally budgeted $19 393 billion in external financing for the ongoing fiscal year 2024-25 later revising the target downward to $14 393 billion, comprising $14 216 billion in loans and $176 29 million in grants This projection does not include potential IMF assistance Despite allocating $3 779 billion for borrowing from foreign commercial banks, only $500 million had been received by January, with no further commercial bank loans recorded in November The EAD report does not
specify the lender behind the $500 million inflow Additionally, the government planned to raise $1 billion through bond issuances but has yet to proceed with any sales Similarly budgeted inflows of $9 billion from time deposits including $5 billion from Saudi Arabia and $4 billion from China’s SAFE deposits remain unmaterialized
The report also makes no mention of any financial assistance from the United Arab Emirates In December 2024, Saudi Arabia extended a $3 billion deposit for another year, though this is not reflected in the EAD’s data for the first seven months
In January alone Pakistan secured $829 84 million in external loans, a significant increase from the $331 59 million recorded in January 2024 Of this, $199 23 million came under the “Naya Pakistan Certificate” program which has brought in a total of $1 126 billion so far this fiscal year
Multilateral lenders provided $2 322 billion between July and January, with $458 million disbursed in January alone Bilateral loans totaled $329 10 million over the same period with
$12 68 million received in January Non-project aid amounted to $2 54 billion, including $1 312 billion for budgetary support while project financing contributed $2 045 billion
Among key multilateral lenders, the Asian Development Bank (ADB) disbursed $1 048 billion, including $139 73 million in January against an annual target of $1 651 billion
The International Development Association (IDA) provided $573 85 million out of a budgeted $1 525 billion, while the International Bank for Reconstruction and Development (IBRD) released $201 50 million against a planned $550 22 million The Islamic Development Bank (IsDB) disbursed $265 7 million in short-term financing, while the Asian Infrastructure Investment Bank (AIIB) and the International Fund for Agricultural Development (IFAD)
