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The Asian Development Bank (ADB) said on Thursday that it had approved loans totalling $330 million to Pakistan for the country’s Second Power Transmission Strengthening Project. The ADB press release said the project was one of the government’s “top priority investments to expand the national transmission network and enable the evacuation of low-cost renewable and hydropower to major load centres”. The bank said a new 500 kilovolt transmission line of approximately 290 kilometres would be constructed under the project, in addition to upgrading “critical grid infrastructure” feeding Islamabad and Faisalabad. “These investments will address long-standing constraints in Pakistan’s north–south power corridor, enabling the transfer of up to 3,200 megawatts of clean energy from hydropower plants in the north of the country. This will help reduce reliance on imported fuels, improve energy security, and support Pakistan’s transition to a more affordable and sustainable energy mix,” the ADB said. ADB said that the in...

• Lender’s Governance and Corruption Diagnostic Assessment proposes 15-point reform plan • Calls for tighter limits on govt’s financial powers • Demands first public annual report of SIFC, concessions granted • Points to opaque tax system, intrusive regulations, weak independent regulators ISLAMABAD: The International Monetary Fund (IMF), in its long-awaited Governance and Corruption Diagnostic Assessment (GCDA), has highlighted persistent corruption challenges in Pakistan driven by systemic weaknesses across state institutions and demanded immediate initiation of a 15-point reform agenda to improve transparency, fairness and integrity. The report, publication of which is a precondition for the IMF executive board’s approval of a $1.2 billion disbursement next month, estimates that Pakistan could boost economic growth by about 5 to 6.5 per cent over five years if it implements a package of governance reforms beginning within the next three to six months. The GCDA seeks an end to special treatment for a few in...

Pakistan dominated the men’s javelin throw final at the 6th Islamic Solidarity Games in Riyadh as Arshad Nadeem expectedly defended his gold medal and Muhammad Yasir won silver. Arshad was in a league of his own headed into the seven-man event; his personal best of 92.97m — which won him gold and the games record at the Paris 2024 Olympics, was head and shoulders above the rest of the field. Predictably, he had the lead from the start and was the only competitor to throw more than 80m — prompting hearty Arabic praise from the commentators — though he looked disappointed after most of his throws. The 28-year-old took home gold with a modest 83.05m throw on his second attempt, well below his 88.55m throw at the previous edition that won gold broke the games record. View this post on Instagram Meanwhile, Yasir shifted gears in the sixth and final throw to win silver in 76.04m after overtaking Nigeria’s Samuel Adams Kure, who bronze in 76.01m. The duo’s medals took Pakistan’s tally at the games to four; boxers Fa...

European Union (EU) Ambassador to Pakistan Raimundas Karoblis on Wednesday said that the country needed to “do more” in terms of fulfilling its commitments under the Generalised Scheme of Preferences Plus (GSP+) status ahead of a review. The status was granted by the EU in 2014, resulting in a 108 per cent increase in Pakistani textile exports to the EU due to concessional tariffs. In October 2023, the European Parliament unanimously voted to extend the GSP+ status for another four years until 2027 for developing countries, including Pakistan. The upcoming GSP+ monitoring mission will scrutinise Pakistan’s record on 27 international conventions tied to the trade scheme. Maintaining GSP+ status is critical for Pakistan to keep export costs low. What is GSP+ status? According to the EU, GSP+ status is a special incentive awarded to developing countries to “pursue sustainable development and good governance” in exchange for cutting import duties to zero on two-thirds of the tariff lines of its exports. Governmen...

European Union (EU) Ambassador to Pakistan Raimundas Karoblis on Wednesday said that the country needed to “do more” in terms of fulfilling its commitments under the Generalised Scheme of Preferences Plus (GSP+) ahead of a review. The status was granted by the EU in 2014, which led to a 108 per cent hike in Pakistani textile exports to the EU due to concessional tariffs. In October 2023, the European Parliament unanimously voted to extend the GSP+ status for another four years until 2027 for developing countries, including Pakistan, to enjoy duty-free or minimum duty on European exports. The upcoming GSP+ monitoring mission was delayed from June because of the Iran-Israel conflict and will scrutinise Pakistan’s record on 27 international conventions tied to the trade scheme, which grants duty-free access to most Pakistani exports. In an interview on DawnNewstv show ‘Doosra Rukh’ today, the EU ambassador was asked about whether Pakistan needed to do more to fulfil the requirements of the scheme, to which he sa...

State-owned energy company Pakistan Petroleum Ltd (PPL) is reclaiming land from the sea to create a launchpad to ramp up oil and gas exploration, US outlet Bloomberg reported on Wednesday. Citing PPL’s General Manager Exploration and Core Business Development, Arshad Palekar, Bloomberg reported that the artificial island will be created about 30 kilometres off the coast of Sindh, near Sujawal. He said this on the sidelines of an oil and gas conference in Islamabad. “Planned with a height of six feet, the platform will prevent high tides from interrupting round-the-clock exploration work,” he said. Pakistan’s drilling efforts are gaining fresh momentum after United States President Donald Trump indicated an interest in the country’s “massive oil reserves” in a social media post in July. Since then, Islamabad has awarded offshore exploration licenses to local companies PPL, Mari Energies Ltd and Prime International Oil and Gas Company. “The project, a first for Pakistan, builds on Abu Dhabi’s experience, where ...

Pakistan has prolonged its airspace ban on India until December 23, according to a fresh NOTAM issued by the Pakistan Airports Authority.

A report submitted to the US Congress has mentioned Pakistan’s “military success” over India during the four-day conflict in May this year. “Pakistan’s military success over India in its four-day clash showcased Chinese weaponry,” said a report submitted to the US Congress on Tuesday by the US-China Economic and Security Review Commission, formed to report on the national security implications of the bilateral trade and economic relationship between the US and China. Pakistan initially said it downed five Indian planes in air-to-air combat during the conflict, but later raised the tally to seven. Islamabad has denied any losses of its planes and says it hit 26 Indian targets after three air bases were targeted. US President Donald Trump, who continues to comment on the conflict, most recently said that eight planes were “essentially” shot down. In its annual report, the US-China Economic and Security Review Commission referred to the May conflict and said that China used it to “test and promote its own defenc...

The US Congress has formally acknowledged Pakistan’s victory over India in the four-day conflict.

Pakistan and Malaysia have agreed to strengthen collaboration in the digital and technology sectors, reaffirming their longstanding strategic partnership.

Air India is lobbying the Indian government to convince China to let it use a sensitive military airspace zone in Xinjiang to shorten routes as the financial toll from a ban on Indian carriers flying over Pakistan mounts, a company document shows. The unusual request comes just weeks after direct India-China flights resumed after a five-year hiatus following a Himalayan border clash between the nations. Air India has been seeking to rebuild its reputation and international network after a London-bound Boeing 787 Dreamliner crashed in Gujarat in June, killing 260 people and forcing it to briefly cut flights for safety checks. But that effort is being complicated by the closure of Pakistan airspace to Indian carriers since diplomatic tensions erupted in late April. For Air India, the country’s only carrier with a major international network, fuel costs have risen by as much as 29 per cent and journey times by up to three hours on some long-haul routes, according to the previously unreported document submitted t...

ISLAMABAD: The country has laun­ched its first standardised bunkering operations at the Karachi Port, aligning Pakistan’s largest port with global maritime safety and operational standards. Bunkering at a port is the process of supplying ships with fuel (such as marine gas oil, heavy fuel oil, or alternative fuels like LNG) for propulsion and onboard machinery. It is a critical, tightly regulated operation that involves transferring fuel from land-based facilities, tanker trucks, or bunker vessels to the receiving ship’s fuel tanks. Maritime Affairs Minister Junaid Anwar Chaudhry on Tuesday said the initiative was launched to accelerate the modernisation of port services and a broader upgrade of Pakistan’s maritime infrastructure. He said the introduction of regulated bunkering would fill a long-standing gap in Karachi Port’s service offering, enabling it to compete more effectively with established bunkering hubs in the region and beyond. Vitol begins refuelling ships with its barge at Karachi Port as Cnergy...

ISLAMABAD - Prime Minister Shehbaz Sharif on Tuesday said that the government is committed to providing all pos­sible facilities to the Sikh commu­nity visiting Pakistan.

Jamiat Ulema-i-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman on Tuesday said that Pakistan had moved past “bitter memories” and urged the forging of a new future with Bangladesh amid the recent warming of ties between the two countries. Ever since a popular uprising in Bangladesh toppled Sheikh Hasina’s government in August last year, there has been a thaw in ties between Islamabad and Dhaka, with trade and bilateral relations seeing a marked improvement. Fazl is currently on a visit to the country and called for stron­ger ties, telling a large religious gathering that a shared “unity of faith was a stronger bond between the two nations that cannot be abolished”. Addressing a gathering of Jamiat Ulema-i-Islam members today at Dhaka’s Bangladesh-China Friendship Conference Centre as the chief guest with several other Bengali political parties in attendance, Fazl said: “Pakistan wants Bangladesh’s prosperity and stability, has forgotten the bitter memories of the past.” He reiterated that the people of Pakista...

Pakistan and Finland conducted the 6th Round of Bilateral Political Consultations in Islamabad today.

Pakistan’s Permanent Representative to the UN Ambassador Asim Iftikhar Ahmad stressed on Monday the need for ending the occupation of Palestinian territories and paving the way for Palestinian statehood through a credible political process. “We believe that in order to break the cycle of violence, it is absolutely necessary to end the occupation, and to have a political horizon, open the pathway to the Palestinian State through a credible, time-bound political process firmly anchored in the relevant UN resolutions,” he said while speaking at the UN Security Council (UNSC) after it adopt a US-drafted resolution endorsing President Donald Trump’s plan to end the war in Gaza. The plan also authorises an International Stabilisation Force (ISF) for the Palestinian enclave. Thirteen UNSC members, including Pakistan, voted in favour of the resolution, while Russia and China abstained — notable given earlier signals that Moscow might veto the text. Israel and Hamas agreed last month to the first phase of Trump’s 20-p...

Pakistan has dispatched its 25th humanitarian consignment to Gaza—a 100-ton cargo—raising its total relief assistance to 2,427 tons, the National Disaster Management Authority (NDMA) confirmed on Tuesday.

Pakistan’s plan to issue Panda Bonds in 2025 has been shelved, pushing the launch into early next year, according to official sources.

Vitol and Cnergyico, Pakistan’s largest oil refiner, have delivered the country’s biggest single shipment of very low sulphur fuel oil (VLSFO) for ship refuelling, the global trading firm said in a statement late Monday. The move will enable large vessels refuelling in Pakistan to now sail longer routes from east to west without needing to stop elsewhere, while also giving the country a stronger local supply of environmentally compliant marine fuel. This shipment came from Cnergyico’s first large-scale batch of fuel that meets International Maritime Organisation (IMO) low-sulphur rules. The company began producing it after importing its first US crude oil cargoes earlier this year. Vitol delivered the VLSFO to a vessel owned and operated by shipping major MSC at Port Qasim, using a Singapore-flagged bunker barge Marine Ista that has the capacity to supply 6,800 metric tons of marine fuel in a single delivery. It was also the first barge to load fuel directly from the Karachi Port Trust’s Oil Pier rather than ...

ISLAMABAD - Federal Minister for Information and Broadcasting Attaullah Tarar on Monday gave credit of Pakistan’s global turnaround to the ideal civil-military relations the country has under the leadership of Prime Minister Shehbaz Sharif.