ISLAMABAD: A sub-committee constituted by the prime minister has set a 120-day deadline to prepare a roadmap to expand shrimp farming, improve value addition and boost exports.

Maritime Affairs Minister Junaid Anwar Chaudhry on Tuesday chaired a meeting of the sub-committee on aquaculture and the shrimp value chain, according to a press release.

The 120-day deadline was set as part of a broader 24-month implementation and review process.

The meeting brought together provincial fisheries officials and relevant federal institutions to develop a “coordinated strategy” for transforming aquaculture into a competitive, export-oriented industry.

PM Shehbaz has termed achieving export-led economic growth as the government’s top priority, with the federal budget for the current fiscal year (FY27) formulated with the same objective.

The sub-committee will prepare a comprehensive report based on verified data and stakeholder recommendations, Tuesday’s statement said.

“The exercise will establish a baseline for the sector, identify bottlenecks across the value chain and propose measures to improve production, processing and export competitiveness,” it added.

Furthermore, the sub-committee approved seven technical working groups and a projection and costing cell to prepare 14 reports and export projections, assigning responsibilities to the relevant institutions.

It also adopted a common framework for data collection and validation, prioritising challenges, developing reform proposals and monitoring progress.

An initial 14-day action plan was approved, with participating institutions directed to complete their assigned tasks within the stipulated deadlines.

The meeting was attended by representatives of the fisheries departments of Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Azad Jammu and Kashmir, and Gilgit-Baltistan. Officials from the Trade Development Authority of Pakistan and the ministries of food security and maritime affairs were also present.

According to the statement, Chaudhry said the exercise would identify constraints and develop practical solutions to expand shrimp farming, strengthen value addition and increase exports.

He added that the federal government would work with provincial governments and other stakeholders to pool expertise and develop a coordinated approach to harness the country’s potential in shrimp farming.

Sindh’s secretary for livestock and fisheries was quoted as saying that a feasibility study was being prepared for a 3,500-acre shrimp farm in the province. He also highlighted the need to address challenges in value addition and traceability.

Meanwhile, Punjab’s Aquaculture and Fisheries Secretary Rana Saleem Afzal said that relevant departments of the provincial government were working to introduce shrimp farming in Punjab.

“Many areas in Punjab were non-cultivable due to high salinity in the underground water, and efforts were under way to establish hatcheries in such areas,” he was quoted as saying.

However, he acknowledged that establishing an effective value chain remained a major challenge.

Other participants presented proposals to improve shrimp processing and value addition for exports as well as local consumption, as shrimps and prawns remain in high demand in Punjab and KP.

It was agreed that the next meeting would review identified bottlenecks as well as available baseline data essential for promoting shrimp farming.

In April, Punjab Chief Minister Maryam Nawaz noted that progress had been achieved in developing infrastructure for shrimp farming projects in Sargodha Estate, Aliwala and Shahgarh.

Punjab had launched the Blue Economy Programme to develop unused lands and introduce a modern scientific system for shrimp farming.

Earlier this year, the federal government said Pakistan’s exports of fish and fish preparations had reached a record $568 million in the previous fiscal year (FY26). Seafood exports are mainly shipped to China, Thailand, Malaysia, the United Arab Emirates, Japan, Vietnam, Saudi Arabia, South Korea, Indonesia and the United States.

PPP Chairman Bilawal Bhutto-Zardari on Tuesday called for a “full stop” to conversations regarding the creation of new provinces.

He made the remarks while speaking to the media at Spencer Eye Hospital in Karachi’s Lyari alongside Sindh Chief Minister Syed Murad Ali Shah.

Reiterating his party’s stance in response to a question over “pressure” the PPP was facing regarding the creation of new administrative units and the possibility of rolling back the 18th Amendment, Bilawal said the people of Sindh and their elected representatives had presented their decision and “now we should put a full stop to this conversation”.

He said the Sindh Assembly had also made its stance in the matter evident for “at least seven to eight times now”.

“The people here can determine the fate of this province and the city,” Bilawal asserted.

“I think we should close this topic because the people themselves have closed it,” he said.

When asked about ongoing conversations regarding a 28th constitutional amendment and whether the government had spoken to him in this regard, Bilawal simply replied: “No.”

The PPP chairman was also questioned about the recent dispute between the Karachi Metropolitan Corporation (KMC) and Pakistan Railways and the federal government’s lack of interest in the city.

“The federal government should definitely pay attention to this city. Karachi is the country’s economic hub. Everyone else should pay attention to it,” he said.

Bilawal’s remarks come amid an ongoing debate across the country about the creation of new administrative units, sparked by Interior Minister Mohsin Naqvi’s proposal for a dialogue among all political parties to bring about reforms to the current governance system and call for new provinces and urgent administrative reforms in July.

At the time, the PPP had referred the question to its top decision-making forum, while the Sindh chief minister flatly rejected it; Lahore’s lawyers also called it unconstitutional and Sindhi nationalist groups have been demanding the minister’s resignation.

However, since Naqvi’s remarks, various political parties have also spoken in favour of it and called for the creation of more provinces or administrative units for better governance.

The Muttahida Qaumi Movement-Pakistan (MQM-P) — an ally of the PML-N-led ruling coalition — has been demanding that Karachi be designated a province separate from Sindh.

However, the PPP, which rules Sindh and is also an ally of the PML-N government at the Centre along with MQM-P, has strongly opposed the suggested move.

In September, the Sindh Assembly adopted a resolution rejecting all attempts to divide the province or create new administrative units, with the CM Murad declaring that “there will be no compromise on Sindh’s geographical unity”.

The government and Jamaat-i-Islami (JI) on Tuesday decided to form a joint committee to recommend proposals for expanding the ongoing fuel relief scheme, while JI warned of marching to Islamabad next month if no relief “package” was announced by then.

The decision was made during a high-level meeting between Prime Minister Shehbaz Sharif and JI chief Hafiz Naeemur Rehman at the PM House, according to a press release issued by the PM Office (PMO).

The meeting was offered by PM Shehbaz last month when urging JI to postpone its Islamabad march, which it had accepted. JI has been demanding the abolition of the petroleum levy to reduce the burden of heightened fuel prices on the public.

Tuesday’s meeting decided that a committee, comprising three members each from the government and JI, will present final recommendations on the following two measures:

• Expansion of the scope of the ongoing relief scheme on petrol for the public so that the maximum number of deserving people can benefit from it
• Preparation of feasible proposals for the budget for a phased reduction in the petroleum levy

Deputy Prime Minister and Foreign Minister Ishaq Dar, Planning Minister Ahsan Iqbal and the PM’s political adviser Rana Sanaullah will represent the government in the joint committee, PMO stated.

The premier informed the JI delegation in detail about the relief provided so far by the government in the petroleum products quota for the low-income segment, noting that 12.7 million people have registered in the subsidy scheme so far.

The relief scheme for owners of motorcycles, rickshaws and vehicles of up to 800cc was rolled out across the country on Sept 17. PM Shehbaz had announced the subsidies to ease the public’s burden amid rising fuel prices due to the Middle East situation.

During the meeting, the prime minister conveyed to JI that he “fully understands the burden on the public due to the increase in prices of petroleum products”, PMO said.

He highlighted the government’s effort to provide relief through the subsidy scheme and asserted that Islamabad was “making all-out diplomatic efforts to resolve the regional crisis so that the situation can return to normal”.

“The current crisis is not related to government policies but to the increase in oil prices in view of regional and international situations. However, according to financial capacity, the government is providing relief to the public and will continue to do so,” he was quoted as saying.

The prime minister thanked JI for adopting the path of negotiations regarding the prices of petroleum products. PMO noted that the JI delegation “expressed its stance on the abolition of the petroleum levy and relief for the public”.

JI Deputy Emir Liaquat Baloch, Deputy Secretary General Syed Farasat Shah, Islamabad Emir Nasrullah Randhawa and Inayatullah were also part of the party delegation.

From the government, Dar, Iqbal, Sanaullah, Economic Affairs Minister Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervaiz Malik, and Minister of State for Finance and Railways Bilal Azhar Kiani were also present.

‘Cannot simply accept peanuts’

In his press conference in Islamabad, the JI chief affirmed that his party will not postpone its march any further.

He stated: “It will now take place in mid-November, and it certainly will take place. Let them announce this package, provide this relief, and devise a mechanism to abolish this extortionate levy before that, [but] if they do not do so, we might have to sit on the road to talk.

“We are prepared for anything,” Rehman declared.

Asked about the outcome of his meeting with PM Shehbaz, the JI emir refrained from terming it “inconclusive”.

He noted that two sides had consensus on expanding the scope of relief, but there were disagreements over the “modalities” and “procedure”.

“We say eliminate the levy; they say we can move towards it phase by phase,” Rehman elaborated.

Rehman, apparently referring to the new joint committee, said Baloch, Shah and Randhawa would be part of it.

“We cannot simply accept peanuts,” the JI chief said when asked about a reported government offer to reduce the levies by Rs20-30. He stressed that his party stood firm on its stance.

He maintained that JI would continue its preparations and would begin nationwide mobilisation for its planned march to the federal capital, while negotiations would also continue at the same time.

“Our preparations are already complete; we will prepare further [and] we will talk to them (the government) further. However, we will also hold the Islamabad march in mid-November,” Rehman said.

Asked whether JI had presented any alternative to abolishing the levy, he responded in the affirmative, asserting that his party had comprehensive preparations.

Rehman highlighted that all past governments vowed not to take loans from the International Monetary Fund (IMF) but then entered into programmes with it after coming into power.

He said his party pointed this out, adding, “Give relief to the people; do not take retribution for your incompetence from the nation.”

Providing details of his party’s demands, the JI chief said it had also raised the issue of refineries’ margins increasing as well when oil prices rose in the international market.

“That should have decreased, people should have gotten relief,” he said.

Rehman acknowledged that JI was aware of the fluctuations in international oil prices due to the ongoing conflicts in the Middle East, but “we want relief to be provided to the people in this regard as well, and this levy should also be abolished alongside”.

He went on to claim credit for the relief scheme launched by the government in mid-September. “If Jamaat-i-Islami was not protesting, do you think this relief package would have come?”

Rehman further said, “We have restrained them a little by continuing to push, by taking a stand, stepping onto the field and protesting; otherwise, it is easy money that you just take advantage of this opportunity.”

The JI emir recalled that in April, the government had hiked the levy on petrol to Rs160 per litre from Rs105, but widespread criticism prompted it to reduce the levy by Rs80.

“It is JI that has raised awareness, protested, and built pressure,” he claimed.

Iqbal calls for ‘durable, sustainable path’

After attending the meeting, Iqbal and Sanaullah addressed a press conference and assured the public that the government wanted to ease the burden of the fuel prices.

“The prime minister and JI emir agreed that they share one purpose and intent: they want to reduce the difficulties of the public,” Iqbal said.

“However, for this, we will have to adopt a path that is durable, sustainable, and the cost of which we can afford.”

The planning minister expressed hope that the committee would be able to work together on the topics to find a solution to these issues.

Simultaneously, while acknowledging that every political party had a right to protest, he stressed that the regional conditions warranted that everyone maintain peace and internal stability in the country.

Iqbal assured the public that the government was aware that the increase in international oil prices, and the consequent fuel price hikes, affected ordinary citizens.

He emphasised that PM Shehbaz was “continuously concerned about how to reduce the difficulties of the most affected and vulnerable classes” and said the soaring costs were a result of a global crisis that was not in the government’s control.

The minister stressed that Pakistan was playing its diplomatic role in resolving the Middle East crisis, including facilitating negotiations between the US and Iran, so that reduced regional tensions could lower global oil prices and the relief could be passed on to the public.

The PML-N leader went on to take a jibe at the previous PTI government, saying it reduced fuel prices for “cheap popularity” even as international oil prices rose, bringing the country to the brink of fiscal default.

He contended that if a government made decisions merely to hype its popularity among the masses, that irresponsibility could come back to it as a “nightmare”.

Therefore, he added, the government, including the prime minister, wanted to help people as much as possible “while staying within our resources”.

Addressing the media alongside Iqbal, Sanaullah said, “The government, to whatever extent possible, is providing relief to the common man, the poor man, and is trying to advance it further.”

He said the number of people benefitting from the fuel subsidy scheme was likely to reach 20m in the coming days.

He appreciated the JI’s efforts and its belief that the common man should be provided relief, stressing that this relief should be taken forward “in such a manner that it is targeted, and that maximum relief be given to those people who deserve it more”.

At the same time, Sanaullah urged all political parties to strengthen the position of Pakistan’s military and political leadership, and to create an environment that lent strength to the efforts made by PM Shehbaz and Chief of Defence Forces and Chief of the Army Staff Field Marshal Asim Munir to end the US-Iran conflict, as well as to maintain good relations within the Muslim world.

He called for “complete solidarity and complete unity” in the country “so that Pakistan can succeed in playing an effective role in the world”.

“It is our hope, and indeed our belief, that the Jamaat-i-Islami leadership, keeping in view these delicate and sensitive matters, will certainly play their role,” he said.

The PML-N leader emphasised that the government had listened to the JI’s suggestions “very carefully” and held the talks with “complete sincerity of intention and good faith” so that the current relief could be made more effective.

JI protests so far

The JI has been demanding for over two months that the Centre abolish petroleum levies, as fuel prices have skyrocketed due to conflicts in the Middle East since March.

The Centre and JI had agreed to form committees in early September — when the latter had planned a nationwide strike — to recommend measures to reduce the levy.

Rehman on Monday warned that the party would march to Islamabad in mid-November if the premier did not abolish the petroleum levy.

On Aug 16, the JI announced sit-ins in all the provincial capitals of Pakistan against the petroleum levy and had called for a nationwide strike on Sept 3.

On Sept 20, the party launched a protest march towards Islamabad, warning that if the government failed to abolish the petroleum levy, the protest could turn into one to oust the government.

On Sept 22, the JI emir said his party, whose convoy had reached Multan, was postponing its long march at the request of PM Shehbaz, who had assured the other side of a meeting to discuss the matters.

However, in a press release issued last week, the party alleged that the government had made no further contact regarding the planned meeting.

LAHORE – Gold prices in Pakistan witnessed more losses on Tuesday, reversing previous day’s gains as fresh decline in global bullion rates weighed on the domestic market.

The latest drop brought gold prices closer to the Rs422,000-per-tola mark, offering some relief to jewellery buyers while highlighting the continued uncertainty surrounding precious metal prices. The price of 24-karat gold fell by Rs1,300 per tola, bringing the new rate to Rs422,136.

The price of 10 grams of gold also declined by Rs1,115, settling at Rs361,913.  The latest price adjustment in Pakistan coincided with losses in the international market, where gold became cheaper by $13 per ounce, bringing the global rate to $3,996.

International bullion prices remain a major influence on Pakistan’s domestic gold market, alongside exchange-rate movements and local trading conditions.

Silver prices also moved lower on Tuesday. The precious metal recorded a decline of Rs85 per tola, with its new price settling at Rs5,793.

Lahore Gold Market Rates

Gold Prices in Karachi and Peshawar

The latest reduction may provide a modest opportunity for people planning to purchase gold jewellery, particularly as the wedding season approaches. However, jewellery buyers should remember that the quoted bullion prices generally exclude making charges, wastage costs and other expenses imposed by individual jewellers.

Gold Price Today in Pakistan: Latest Per Tola, 10 Gram Rates – 27 October 2026

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ISLAMABAD – National Accountability Bureau (NAB) revealed details of major corruption investigations involving government officials, private developers and politically influential individuals across Pakistan.

Amjad Majeed Aulakh, Director General (Operations) of National Accountability Bureau (NAB) shared update on politicians from ruling and previous governments, while the anti-corruption watchdog is investigating massive financial irregularities, suspicious payments, fraudulent withdrawals and alleged misuse of state-owned land.

The disclosures came as the official faced tough questions about NAB’s willingness to investigate powerful politicians, the fate of Panama Papers cases. The official insisted that no government or political figure enjoys immunity from accountability, maintaining that NAB pursues cases based on evidence rather than political affiliations.

One of alarming revelations concerned KP Cities Improvement Project, a major development initiative launched in 2017 with financial support from the Asian Development Bank. Initially designed to improve civic infrastructure in Peshawar, Abbottabad and Mardan, the project included public parks, green areas, water supply systems and treatment facilities.

According to the NAB official, the project’s scope was expanded to include Kohat and Mingora without proper feasibility studies. The project, initially backed by approximately Rs32 billion in financing, eventually reached a reported financial size of Rs74 billion. Despite payments of approximately Rs57 billion, investigators discovered disturbing discrepancies between official records and physical progress.

While documentation suggested that 50 percent of the work had been completed, NAB’s field inspections reportedly found progress ranging from just 20 to 25 percent at several locations.

Even more troubling, the official alleged that some developments existed only in official documents, with no corresponding work visible on the ground. Investigators also identified approximately Rs17 billion in questionable payments. When contacted, some companies listed as recipients allegedly denied issuing invoices or carrying out the work for which payments had been recorded.

Upper Kohistan Scam

DG NAB disclosed details of alleged Rs37 billion fraud involving the Upper Kohistan district administration. He said the scandal involved fraudulent withdrawals from the provincial treasury through alleged collusion between officials of the Communication and Works Department and the District Accounts Office.

The official said NAB conducted extensive forensic examinations of approximately 1,200 bank accounts and traced assets worth around Rs26 billion linked to the scandal. He termed the findings as a major breakthrough against an organised network allegedly responsible for diverting public funds. A total of 142 individuals were identified as accused, including government officers and departmental officials, according to the interview.

NAB official avoided publicly identifying politicians allegedly connected to the matter, saying premature disclosures could affect legal proceedings.

Separately, official government records confirm that NAB had frozen assets worth more than Rs27 billion and recovered more than Rs10 billion through plea bargains and other mechanisms by June 2026. These categories should not be confused with cash already returned to the treasury.

The interview also brought renewed attention to a major land controversy in Sindh involving approximately 18,000 acres of state-owned property. According to the NAB representative, government land was allegedly handed over to a private housing developer under an arrangement requiring the developer to provide alternative land in exchange.

However, the official alleged that the government never received the agreed replacement land. He said the property involved in the accountability reference was valued at approximately Rs783 billion. NAB has reportedly submitted a challan before an accountability court, naming 33 accused individuals.

NAB official responded that Malik Riaz and his son had been declared proclaimed offenders in the relevant proceedings. He said they must return to Pakistan and appear before the courts if they wish to contest the allegations. The official stressed that NAB’s responsibility was to present evidence, while determining guilt or innocence remained the judiciary’s exclusive responsibility. He rejected the suggestion that powerful developers should receive preferential treatment simply because their projects involved substantial investments or had already sold plots to members of the public.

Panama Case against Nawaz Sharif

The interview took a political turn when the official was questioned about the Panama Papers controversy and the accountability proceedings involving former prime minister Nawaz Sharif.

The interviewer asked why the disclosures, which implicated hundreds of Pakistanis, had generated such intense scrutiny of one political family while comparatively little public attention was given to many other individuals named in the leaked documents. NAB official explained that references filed by the bureau were subsequently challenged before superior courts.

He cited amendments to accountability legislation in 2023 and subsequent judicial proceedings as factors affecting the handling and outcomes of relevant cases. Asked specifically about the Avenfield Apartments case and the earlier political demand for Nawaz Sharif to produce money trails and property documents, he maintained that NAB was bound by the law and the courts’ decisions.

He stressed that the bureau could not continue pursuing a case contrary to a final judicial determination. The interviewer also challenged NAB over controversial economic decisions, including costly wheat imports, sugar exports and government subsidies benefiting sugar mills.

He questioned why businesses receiving substantial financial benefits from state policies were not automatically subjected to corruption investigations. NAB official responded that granting subsidies was ordinarily a government policy decision and did not, by itself, amount to corruption. However, he clarified that NAB could intervene where credible evidence showed that subsidies had been distributed illegally, granted to ineligible beneficiaries or used to provide unlawful financial advantages.

NAB launches probe into alleged irregularities in KP’s Sehat card programme

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LAHORE – Good news for bike enthusiasts in Pakistan as Premium Italian and Chinese bikes could soon become cheaper with expected launch of local assembly in January next year. It could slash motorcycle prices by over half million, making high-end adventure bikes more affordable for Pakistani buyers.

The company, which represents international brands including Benelli, Moto Morini and QJMOTOR in Pakistan, is preparing to move beyond importing fully built motorcycles and begin assembling selected models domestically.

For years, motorcycle enthusiasts in Pakistan have faced steep prices for imported brands such as Benelli, CFMoto, Lifan, Zongshen and Keeway, largely because these motorcycles arrive as Completely Built Units (CBUs), attracting substantial import duties and additional costs.

The company expects its new assembly plant to be operational by December 2026, clearing the way for the first locally assembled premium motorcycles to enter the market in January 2027. Italian motorcycle manufacturer Moto Morini will lead the initial phase, with the adventure-focused Alltrhike 450 becoming the first model scheduled for local assembly.

A smaller 300cc adventure motorcycle is expected to follow shortly afterwards. The company also plans to assemble motorcycles from another major international brand, although its identity remains undisclosed.

The key part of the announcement is the price reduction. The company expects local assembly to axe cost of premium motorcycles by avoiding some of the higher duties associated with importing fully assembled units. Moto Morini Alltrhike 450, previously priced at Rs2.6 million as a fully imported motorcycle, could carry a tentative price tag of Rs1.995 million after local assembly.

Prce Update

The expected reduction could make the motorcycle considerably more attractive to buyers who have previously been discouraged by the high cost of imported adventure bikes.

Suzuki’s First Electric Kei Car e-Sky gets 50 kW Fast Charging, 300 km Range

There could be further good news for motorcycle enthusiasts. Pakistan’s proposed automotive policy includes possible reductions in customs duties on CKD kits for petrol-powered motorcycles, potentially creating additional opportunities for manufacturers to lower retail prices. If the government approves further concessions, Buraq Automobile intends to pass the resulting savings on to customers.

A proposed 10 percent reduction in applicable CKD duties, for example, could lead to additional price relief, although it would not necessarily translate into a 10 percent reduction in the motorcycle’s retail price. The final benefit will depend on the approved policy, applicable taxes and local assembly costs.

Buraq’s expansion plans arrive amid a changing landscape for Pakistan’s motorcycle industry. More recently, Royal GPX began local production in 2026, introducing Thai-branded motorcycles aimed primarily at smaller-displacement market segments.

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Pakistan and China have launched the China-Pakistan Information Corridor (CPIC), with Information Minister Ataullah Tarar saying that the initiative will focus on countering misleading narratives, cultural exchanges and cooperation between think tanks.

The corridor was launched at a ceremony in Islamabad, which was televised on Tuesday. Chinese Foreign Ministry Spokesperson Mao Ning and Chinese Ambassador Jiang Zaidong attended the launch.

In his televised remarks, Tarar expressed his “long-standing“ desire to collaborate with China in the fields of media, information sharing and digital platforms.

Hailing Pakistan and China’s bilateral relations, Tarar recalled the China-Pakistan Economic Corridor (CPEC), noting that it had “turned decades of goodwill into steel, concrete and current”.

“It lit homes, laid motorways across our provinces and gave Pakistan at Gwadar a gateway to the world.”

Tarar said that while the first phase of CPEC connected lands, the next phase will “connect our minds and this information corridor will act as a bridge for connecting the minds of the people of the two countries”.

The information minister said the collaboration under the newly launched corridor will stand on four pillars — media, business and enterprises, think tanks, and culture/tourism.

“First, media. A news exchange working group of 18 Pakistani and Chinese media organisations. From our state broadcasters and private channels to Xinhua, CMG, and People’s Daily now share verified news on our cooperation.”

He added that it will also include a dedicated fact-check mechanism to track misleading narratives and counter them with “concrete facts”.

The second pillar, which includes businesses and enterprise, Tarar said, will draw on leading Pakistani and Chinese commercial groups.

“This pillar has opened its first regional office in Karachi,” Tarar said, adding that under the initiative, a trade portal to track trade, investment, and Foreign Direct Investment (FDI) was being built, along with a podcast series about the stories of Chinese entrepreneurs in Pakistan and vice versa.

He said the third pillar will involve collaboration between think tanks from the two countries.

“Led by the Pakistan-China Institute and joined by our foremost research institutions, this pillar will bring evidence and depth to the bilateral conversation through joint dialogue, research, and publications with Chinese counterparts,” Tarar said.

The fourth pillar, which Tarar described as the “heart of the corridor”, will focus on tourism, with work already underway on the Xinjiang-Gilgit-Baltistan tourism corridor, “extending the journeys of Chinese travellers into the valleys of our north”.

Tarar also shared that the first cohort of CPEC Youth Ambassadors had been nominated from 13 universities across Pakistan.

“Before a community of shared future can be built in steel and stone, it must find its place in the minds of the people,” Tarar said, stressing that the principle was at the core of CPIC.

“If CPEC is its body and the shared future, CPIC will be its voice. If CPEC connects our economies, CPIC will connect our understanding. Through it, a student in Lahore will know the China of today, and not the caricatures of yesterday. A family in Chengdu will see Pakistan as it truly is: warm, resilient, and full of potential.”

He added that the corridor will counter “falsehoods with fact, isolation with exchange, and suspicion with trust,” lauding Chinese President Xi Jinping’s vision.

“President Xi gave us the vision of a shared future, and Prime Minister Shehbaz Sharif has given Pakistan the means to reach it,” Tarar said.

For PM Shehbaz, Tarar said the digital revolution was about people and “above all Pakistan’s young people”.

“More than 68 per cent of our nation is under 30 in their hands. A laptop is a passport and a smartphone is a marketplace. Through their talent, Pakistan is taking its place in the global digital economy.”

Tarar further stated that CPIC was at its core a “digital corridor”.

“Its news exchanges, fact-check mechanisms, trade portals, podcasts, social media channels, and youth ambassadors are tools of a digital age put to work for an old and trusted friendship. And here too, Pakistan walks with China,” Tarar said.

The information minister, in his address, also invited Chinese media houses, think tanks, universities, enterprises, and youth ambassadors to join each pillar of CPIC.

Concluding his address, Tarar said that while the Karakoram Highway was carved through the mountains, today Pakistan and China were building a “different highway [..] it is not made of rocks, but it is made of truth, and it will be carried not on trucks, but on voices.

Meanwhile, China’s Ning also addressed the ceremony, noting that China and Pakistan continue to face misinformation and fake news, according to state broadcaster Pakistan TV.

Ning stressed the need for the CPIC, saying that its four pillars can play a key role in highlighting bilateral cooperation.

Pakistan and China share a longstanding strategic partnership rooted in mutual trust, economic cooperation and regional connectivity. Over the decades, ties have expanded across different sectors — including trade, energy, defence and infrastructure — with the CPEC symbolising a shared vision for development.

A day earlier, Deputy Prime Minister and Foreign Minister Ishaq Dar met Ambassador Zaidong to review progress on CPEC.

During the meeting in Islamabad, Dar praised the ongoing expansion of the “all-weather strategic cooperative partnership” between the two nations. Discussions focused on advancing trade, investment, regional connectivity, agricultural modernisation and people-to-people exchanges.

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LAHORE – Vape shops and e-cigarette users across Punjab could face sweeping restrictions as Maryam Nawaz led government moves towards legislation aimed at curbing growing use of nicotine products, particularly among young people.

The provincial administration is considering ban on e-cigarettes and vaping products, with officials working on legal framework that could reshape the sale, purchase, advertisement and use of these products throughout the province.

The latest move comes amid mounting concerns over nicotine addiction among teenagers and young adults, an issue that has prompted repeated calls for stricter government intervention.

The government initiated interdepartmental coordination and is preparing consultations involving the police, health department and district administrations to develop an effective enforcement strategy. The proposed legislation is expected to address the commercial distribution of vapes, their promotion and accessibility to minors. Authorities are also examining possible punishments and enforcement mechanisms to ensure compliance once a law is approved.

Why Banning Alternatives to Cigarettes?

The government’s renewed focus on vaping comes after earlier attempts to restrict electronic cigarettes encountered significant legal obstacles.

Last year, Punjab Chief Minister Maryam Nawaz ordered a province-wide crackdown on the sale, purchase, distribution and advertising of vaping products, citing concerns over their increasing popularity among young people. Following the directives, enforcement teams launched operations against vape businesses, sealing several outlets and restricting commercial activities.

But the campaign soon landed in court. More than 70 vape shop owners challenged the crackdown before the Lahore High Court, arguing that authorities were shutting down businesses without a specific law declaring vaping illegal.

The court granted interim relief to the affected traders, directed the reopening of shops and restrained enforcement action lacking a proper legislative basis.

The legal proceedings exposed a major gap in the government’s strategy: electronic cigarettes were being imported under federal regulations, yet provincial authorities were attempting to restrict their trade without comprehensive legislation. That legal hurdle now appears to be a central factor behind Punjab’s renewed push for a formal law.

Punjab currently has no comprehensive province-wide statutory ban criminalising the possession, private use or general sale of electronic cigarettes. Existing tobacco-control regulations impose restrictions in designated public places, while certain government measures specifically target vaping products in sensitive locations.

Fact Check: No Vape Ban in Punjab despite viral posts’ claims

Prohibition of Smoking and Protection of Non-Smokers’ Health Ordinance, 2002, remains an important part of the broader tobacco-control framework. Meanwhile, electronic cigarettes continue to be imported through federally regulated channels, complicating efforts to introduce sweeping provincial restrictions without new legislation.

In October 2026, amended food-quality regulations published in the Punjab Gazette prohibited the sale of vapes and tobacco products in canteens and cafeterias at schools, colleges and universities. The restrictions also cover food businesses operating within 100 metres of educational institutions.

The same regulatory changes introduced restrictions on several other products, including energy drinks, carbonated beverages, certain sweets and foods containing monosodium glutamate (MSG).

Punjab is not alone in examining tighter controls on electronic cigarettes. At the federal level, the proposed Electronic Nicotine Delivery Systems Regulation Bill has also been under discussion, with Senate committee approval reportedly secured earlier in 2026.

The proposed legislation seeks to regulate vaping products through age restrictions, advertising controls, public-use limitations, product standards and penalties. However, the framework has not yet been fully enacted as a comprehensive nationwide law.

If Punjab proceeds with its proposed legislation, businesses dealing in electronic cigarettes could face new licensing or trading restrictions, advertising limitations and penalties for violating the eventual law. Measures aimed at stopping sales to minors are expected to receive particular attention.

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LAHORE – From TV show to real-life husband and wife, Tamasha Season 5 stars Esra Ayesha and Zayb Khan surprised fans with stunning Nikkah announcement that has set social media buzzing.

The couple, whose chemistry became one of the most talked-about highlights of ARY show Tamasha, revealed their marriage through a series of breathtaking wedding photographs, leaving admirers delighted by the unexpected news.

Instead of making a lengthy announcement, Esra and Zayb chose a simple yet meaningful message to mark the beginning of their married life. “And We created you in pairs,” they wrote alongside their Nikkah portraits, sharing the joyous occasion with their followers.

 

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The announcement was particularly special for viewers who had watched their friendship develop inside the Tamasha house and repeatedly expressed hopes that the two would become a real-life couple.

The newlywed bride looked radiant in an elegant white-and-gold traditional ensemble, combining classic Pakistani bridal fashion with sophisticated styling. Esra paired the outfit with striking gold jewellery, including a heavy choker, statement earrings, a maang tikka and delicate pearl-accented bangles.

Zayb Khan complemented his bride in an off-white traditional outfit, styled with a dark burgundy waistcoat, polished black shoes and a subtle floral accessory.

For loyal followers of Tamasha, the wedding announcement carries emotional connection to couple’s journey. The duo was among show’s most popular contestants, with their friendship gradually becoming a major subject of discussion among viewers.

Esra, who eventually finished as the season’s runner-up, initially attracted attention because of her outspoken personality, fiery exchanges and competitive attitude. Fans noticed different side of her personality, particularly during her interactions with Zayb.

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TEL AVIV – Israel is witnessing high-stakes political showdown as millions of voters head to the polls in election that could end Benjamin Netanyahu’s long grip on power, and bring former military chief to premiership.

The contest for Israel’s 26th Knesset developed into closely fought battle between current PM Netanyahu, who is seeking a seventh term, and former army chief Gadi Eisenkot, whose growing political influence has transformed him into a serious challenger.

With approximately 7.3 million eligible voters, more than 12,000 polling stations opened at 7am local time on Tuesday to elect the 120 members of Israel’s parliament. The vote comes three years after the outbreak of a devastating regional conflict, with Israeli society deeply divided over national security, the Gaza war, judicial reforms, military conscription, the cost of living and Netanyahu’s political future.

Recent opinion polls suggest that neither the ruling coalition nor the main opposition bloc is guaranteed to secure the 61 parliamentary seats required to form a government, raising the possibility of prolonged coalition negotiations.

Netanyahu vs Eisenkot

Israel’s longest-serving prime minister Netanyahu is campaigning on his record of confronting security threats and securing what he describes as major strategic achievements during conflicts since 2023. His opponents, however, are seeking to turn the election into a referendum on his leadership, particularly the security failures surrounding the October 7 attacks.

Those attacks left approximately 1,200 people dead, while 251 others were taken hostage to Gaza. PM attempted to reinforce his image as Israel’s strongest defender, reviving his longstanding political reputation as “Mr. Security.” Yet his principal challenger comes from within Israel’s own military establishment.

Gadi Eisenkot, a former chief of staff of the Israeli military, has gained political ground by promising greater accountability and a different approach to national leadership. His military experience has become a major political advantage, particularly among voters concerned about Israel’s security challenges.

Eisenkot established his Yashar Party last year and has positioned himself as an alternative to the country’s traditional political leadership. His personal experience of the Gaza war has also shaped his political standing. One of his sons was killed while serving in the Israeli military during the early months of the conflict.

Eisenkot himself served in Netanyahu’s wartime cabinet before resigning in 2024 over disagreements about the government’s conduct of the war. He has since made accountability for the failures preceding October 7 a central theme of his political campaign.

Opposition Unites against Netanyahu

Eisenkot has emerged as a prominent figure in the opposition’s so-called Change Alliance, a grouping of parties united primarily by their determination to remove Netanyahu from office. The opposition includes former Prime Minister Naftali Bennett, Avigdor Lieberman and former general Yair Golan.

However, the alliance contains significant ideological differences. Bennett and Lieberman represent right-wing political positions and favour tough security policies, including continued Israeli control over extensive areas of the occupied West Bank.

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Golan, by contrast, belongs to the political left and supports Israeli withdrawal from large parts of the occupied territory. Despite their differences, these leaders could cooperate with Eisenkot if their combined parliamentary strength offers a viable route to power. Netanyahu, meanwhile, is relying on the support of far-right and conservative religious parties that form the backbone of his existing coalition.

His administration has been widely described as the most right-wing government in Israeli history. Some of his political allies advocate annexing the occupied West Bank. Critics warn that such policies could lead to the forced displacement of civilians.

Arab Parties in Election Deadlock

One of key uncertainties surrounding the election is the potential role of Arab political parties in deciding who governs Jewish state next. Arab citizens make up approximately one-fifth of Israel’s population, and many identify themselves as Palestinian citizens of Israel.

Two Arab political alliances are contesting the elections, potentially placing them in a powerful position if neither Netanyahu nor Eisenkot secures enough support to form a majority government. Their influence could take several forms, from backing a preferred candidate for prime minister to joining a coalition or supporting a minority administration without formally entering government.

Some years back, Mansour Abbas led United Arab List into coalition government headed by Naftali Bennett. It was the first time an independent Arab party formally participated in an Israeli governing coalition. Ahead of the latest vote, Abbas has expressed openness to participating in the formation of a new government.

Ahmad Tibi, associated with the Joint List, has suggested that Arab lawmakers could support an alternative administration without necessarily becoming coalition members.

Army chief Removal Buzz

The final hours of the election campaign were overshadowed by controversy over Netanyahu’s relationship with Israeli military chief Lieutenant General Eyal Zamir. An Israeli Channel 12 report claimed that Zamir’s prospects of retaining his position would be extremely limited if Netanyahu returned to power.

The report pointed to serious disagreements between the prime minister and the military chief over a sensitive security operation. The dispute did not concern a direct Israeli attack on Iran. Instead, it involved an operation that Zamir reportedly feared Tehran could misinterpret, potentially provoking an unexpected military confrontation.

Netanyahu moved to dismiss speculation about the army chief’s future. In an unusual public clarification shortly before voting, the prime minister declared that he had no intention of dismissing Zamir. The controversy highlighted the tensions between Israel’s political and military leadership at a particularly sensitive moment.

Beyond personal contest between Netanyahu and Eisenkot, several major issues have shaped the election. National security remains central to the campaign, with Netanyahu defending his record in the conflicts involving Gaza and other regional fronts. His opponents have demanded accountability for the October 7 security failures and questioned the government’s handling of subsequent military operations.

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LAHORE – A serious incident of sexual harassment by online Bike Rider reported in Johar Town, where a woman allegedly jumped from moving bike to escape harassment and suffered serious injuries.

According to First Information Report (FIR), the woman identified as Gh****, booked bike ride from F-2, Johar Town, to Veto Palace. The complaint, lodged by her brother, Ghaus Ayub Nasir, alleges that the rider, identified as Naeem, harassed woman throughout the journey, repeatedly pressuring her for lewd act and attempting to touch her without consent.

Despite her repeated objections and requests for him to stop, the rider continued his behaviour. The situation reportedly escalated near House No. 4 on the service road in the G-4 area. The jump left her with injuries to her head, nose, knee and neck, and the head injury was serious to require admission to ICU at Jinnah Hospital, where she was receiving treatment.

The motorcycle involved in the incident was identified in the complaint as a red Honda CD 70 bearing registration number LEV/8884. The rider was named as Naeem. After the incident, the accused allegedly fled the scene, as per FIR.

Nawab Town Police Station registered case against the rider under Section 354 of the Pakistan Penal Code (PPC).  The complainant urged police to take strict legal action against the accused and ensure justice for his injured sister.

The incident raised concerns about women’s safety when using app-based motorcycle transport services. The reported incident also shows importance of investigating complaints of harassment, ensuring passenger safety and holding those responsible accountable through due legal process.

The allegations against the rider have yet to be established in court. Further details regarding the investigation and the victim’s latest medical condition were not available in the supplied report.

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MISSISSIPPI – US President Donald Trump made big claims about Iran’s expanding missile capabilities, arguing at a recent election rally in Mississippi that Tehran poses a growing threat to Europe and potentially American cities, including Los Angeles and San Diego.

Experts’ assessments of Iran’s missile arsenal do not support claim that the country currently possesses an operational missile capable of reaching US. At recent events, Trump linked Iran’s missile development and nuclear ambitions to the justification for US military action, presenting campaign as necessary to prevent a more dangerous future threat.

The statements reignited questions about the distinction between Iran’s established military capabilities and the potential dangers posed by its future weapons development.

Trump claimed that Iran developed missile capable of reaching Europe, questioning how Tehran had acquired such a capability. He then warned that Iranian weapons could threaten American cities, specifically naming San Diego and Los Angeles, and argued that US had to act before the danger escalated.

The president framed military campaign as response to Iran’s growing missile capabilities and its nuclear ambitions. His argument rests on the possibility that allowing Tehran to advance its weapons programmes could eventually expose the United States and its allies to more serious threats.

White House allies have defended this rhetoric as an attempt to highlight risks of Tehran acquiring more advanced delivery systems alongside nuclear weapons. Critics, including officials in California, have questioned the language, arguing that it risks exaggerating Iran’s current capabilities and creating unnecessary alarm.

What Iran’s missile arsenal can actually reach

Iran maintains one of the Middle East’s largest ballistic missile arsenals, with systems capable of attacking Israel, regional US military installations and other targets across the Gulf and eastern Mediterranean.

Iranian ballistic missiles estimated ranges of approximately 1,400 to 2,000 kilometres. Some variants, particularly those designed to carry lighter payloads, have been assessed as potentially capable of travelling farther.

Estimates for certain Khorramshahr variants have extended to roughly 2,500–3,000 kilometres or beyond under some configurations, although such figures are not equivalent to proof of a routinely deployable missile with that range and payload.

A missile with a range near 2,000 kilometres could threaten targets across much of the region. Longer-range configurations might reach parts of southeastern or eastern Europe, depending on their actual performance and trajectory. However, the claim that Iran can reach Europe should not be interpreted as evidence that every European country falls within the range of its operational missile force.

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The geographical gap between Iran’s established missile capabilities and the ability to strike US West Coast needs to be discussed. Los Angeles and San Diego are 12,000 kilometres or more from Iran. No publicly confirmed Iranian operational ballistic missile is known to possess the range required to cover that distance.

A 2025 assessment by the U.S. Defense Intelligence Agency reportedly suggested that Iran could potentially develop a militarily viable intercontinental ballistic missile by around 2035 if it prioritised the effort and leveraged relevant space-launch technology.

Open-source assessments identify several Iranian missile families with reported ranges around or below 2,000 kilometres, although performance estimates vary by model, payload and configuration. The solid-fuel Sejjil and Sejjil-2 are generally assessed to have ranges of around 2,000 kilometres, with some claims extending to approximately 2,500 kilometres.

The Khorramshahr family, including variants referred to as Kheibar or Khorramshahr-4, is associated with heavy payloads and reported ranges around 2,000 kilometres. Some assessments suggest that lighter-payload configurations could travel farther.

Ghadr and Emad missiles, derived from the Shahab-3 family, are generally assigned ranges of approximately 1,600–2,000 kilometres. Shahab-3 estimates vary by version, with reported ranges extending from roughly 1,300 kilometres to around 2,000 kilometres. Other systems, including the Kheibar Shekan and Haj Qassem, are generally assessed to operate in the 1,400–1,500-kilometre range. Iran also fields cruise missiles such as the Soumar, Hoveyzeh and Paveh, for which reported ranges vary considerably.

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Pakistan has warned that adding more permanent members to the United Nations Security Council (UNSC) and extending veto privileges would “deepen existing inequalities, perpetuate historical advantages and increase the risk of Council paralysis”.

The counsellor at the Pakistan Mission at UN, Gul Qaiser Sarwani, presented these views at the UN General Assembly during a debate on the use of the veto.

He said Pakistan called for “comprehensive, democratic and equitable reform of the UN Security Council” and stressed that the misuse of veto power undermined UNSC’s effectiveness, weakened the credibility of the UN and perpetuated inequalities within the international system.

“Strategic rivalries and narrow interests among the Council’s permanent members had repeatedly impeded collective action on international peace and security,” he said, emphasising the “unique legitimacy” of the UNGA, whose universal membership and democratic decision-making enabled it to respond when the UNSC unable to act, including due to the exercise of the veto.

The Pakistani delegate opposed the creation of any new permanent seats in an expanded Security Council.

On proposals to regulate the use of the veto, he said Pakistan favoured its abolition or, at a minimum, severe restrictions on its use. He emphasised that the veto must not be expanded and reaffirmed Pakistan’s support for General Assembly resolution 76/262, which provides for a UNGA debate following the exercise of a veto to promote greater accountability.

Sarwani stressed that any measures to restrain the veto must remain consistent with the UN Charter. He called for a balanced approach combining restrictions on veto use with enhanced representation and a stronger role for elected members of the UNSC, making its decision-making “more democratic and providing an effective check on the exercise of veto power”.

The delegate further emphasised that the question of the veto must be addressed alongside the other four interrelated clusters under the Intergovernmental Negotiations on Security Council reform, as part of a comprehensive reform package.

Concluding his remarks, he reiterated “Pakistan’s strong commitment to reform that corrects existing imbalances, strengthens accountability and serves the collective interests of the entire UN membership rather than a select few”.

“Reform for all. Privilege for None!” he said.

A recent UN report has also warned that the veto power of the five permanent members of the Security Council is one of the reasons multilateral mechanisms have been unable to prevent or stop the growing number of state-based conflicts.

The resulting paralysis has weakened decision-making processes, prompting the UN secretary general to call for Security Council reforms, including an expansion of its membership to ensure fairer representation, particularly for Africa, Latin America and the Caribbean, and the Asia-Pacific region, it says.

“All these voices are underrepresented despite bearing much of the burden of peacemaking in an increasingly multipolar world,” the ‘World Social Report 2026’ notes.

The country’s top leadership on Tuesday reaffirmed Pakistan’s support for the people of Indian Illegally Occupied Jammu and Kashmir (IIOJK) as the country observed Kashmir Black Day to mark the anniversary of the arrival of Indian forces in Srinagar on Oct 27, 1947.

In a statement issued on the occasion, Prime Minister Shehbaz Sharif said the arrival of Indian forces in Srinagar 79 years ago marked the beginning of a “tragic chapter” in the history of Jammu and Kashmir, which continued to cast a long shadow over the region.

He expressed deep concern over the prolonged incarceration of Kashmiri political leaders, activists and human rights defenders.

“Pakistan’s position on Jammu and Kashmir remains clear, consistent and principled,” he said, adding that lasting peace and stability in South Asia could not be achieved without a just and peaceful resolution of the dispute in accordance with relevant United Nations Security Council resolutions and the aspirations of the Kashmiri people.

Paying tribute to the sacrifices of the Kashmiri people, PM said countless men, women and children had made immense sacrifices in pursuit of their rights, adding that their memory would always be honoured.

He reaffirmed the government and people of Pakistan’s unwavering solidarity with the people of occupied Kashmir.

According to a statement issued by the Presidency, President Asif Ali Zardari said the people of IIOJK had endured decades of conflict, restrictions and denial of their fundamental rights since Oct 27, 1947.

He said, “continuing restrictions on fundamental freedoms, heightened militarisation, arrests and reports of human rights violations remained a matter of serious concern and underscored the need for sustained international attention”.

Dar calls for resolution in line with UN resolutions

In his message, Deputy Prime Minister and Foreign Minister Ishaq Dar said the people of IIOJK continued to be deprived of their fundamental rights under Indian occupation, nearly eight decades after Indian forces entered Srinagar.

He said the Kashmiri people’s struggle for the right to self-determination, recognised by the United Nations, remained unfinished, adding that Pakistan stood firmly with them in their pursuit of freedom, dignity and the right to determine their own future.

Dar added that India’s unilateral measures of Aug 5, 2019, had further aggravated the situation in the disputed territory, intensified the suffering of its people and could not alter the occupied region’s disputed status.

He called on the international community to fulfil its responsibilities towards the Kashmiri people, take sustained notice of the human rights situation in IIOJK and urge India to end rights violations and allow them to exercise their right to self-determination.

He paid tribute to the sacrifices of the Kashmiri people and reaffirmed Pakistan’s commitment to extending them political, diplomatic and moral support.

Dar said a just, peaceful and lasting resolution of the dispute in accordance with relevant UN Security Council resolutions and the aspirations of the Kashmiri people was essential for peace and stability in South Asia. He added that the dispute could not be resolved through unilateral actions or the use of force.

In his message, PPP Chairman Bilawal Bhutto-Zardari said Kashmiris had been waiting for decades for their right to self-determination, as recognised in United Nations resolutions.

He said the international community must answer through its actions when Kashmiris would be granted their recognised right to self-determination.

Bilawal said the future of Kashmir’s children should be one of freedom, peace and a life free from fear, rather than another prolonged wait to decide their own future.

NA resolution urges sustained diplomatic efforts

The National Assembly also unanimously passed a resolution, reaffirming Pakistan’s “unwavering moral, political and diplomatic support” for the people of Jammu and Kashmir and their inalienable right to self-determination.

The resolution strongly condemned continuing human rights violations in occupied Kashmir, including extrajudicial killings, arbitrary arrests and detentions, enforced disappearances, custodial torture and restrictions on fundamental freedoms.

The House also expressed concern over the continued incarceration of Kashmiri political leaders and activists and rejected India’s unilateral actions of Aug 5, 2019, aimed at altering the disputed territory’s status and demographic character.

In August 2019, India’s ruling Bharatiya Janata Party (BJP) had revoked occupied Kashmir’s special status by repealing Article 370 of the constitution. The law had limited the power of the Indian parliament to impose laws in the state, apart from matters of defence, foreign affairs and communications.

In its resolution, the NA reaffirmed that the final disposition of the dispute must be determined in accordance with relevant United Nations Security Council (UNSC) resolutions and the freely expressed will and aspirations of the Kashmiri people, and called for an end to human rights violations and measures aimed at changing the territory’s demographic character.

The House further urged the government to sustain diplomatic efforts at the United Nations, the Organisation of Islamic Cooperation and other relevant international forums to highlight the Jammu and Kashmir dispute in accordance with relevant UNSC resolutions.

The resolution said that “neither the passage of time, nor repression, nor unilateral actions could extinguish the legitimate aspirations of the Kashmiri people or diminish the international community’s responsibility to work towards a peaceful and just resolution of the Kashmir dispute”.

The State Bank of Pakistan (SBP) on Monday raised the key policy rate by 50 basis points to 12 per cent, its first increase since April as inflation, fuelled by high energy costs due to the Gulf conflict, remained above target.

In a statement, the Monetary Policy Committee (MPC) said it had decided to increase the policy rate, with a majority decision of nine out of ten members.

It noted that the “intensification in the Middle East conflict and low prospects of its near-term resolution” were keeping global energy prices at persistently elevated levels.

“While the impact of this global shock on the domestic economy has remained contained so far amidst proactive monetary policy adjustment and continued fiscal discipline, geopolitical developments have worsened the inflation outlook as compared to the earlier assessment,” it said.

It went on to say that although the external account and growth outlook remained broadly unchanged, risks had also increased.

“Considering these developments and the evolving risks, the MPC deemed today’s decision as necessary to keep inflation expectations anchored, contain second-round effects of the ongoing supply shock and bring inflation within the target range of 5-7pc. This will help preserve macroeconomic stability, which is necessary for sustainable economic growth,” it said.

It said that forex reserves had remained stable at around $21bn, Pakistan had reached a staff-level agreement with the International Monetary Fund (IMF) and that real gross domestic product (GDP) growth had been revised at 3.7pc, almost unchanged from the initial estimate.

It further said that the Federal Board of Revenue had exceeded its revenue collection target during the first quarter of the current fiscal year, major central banks had raised interest rates in the wake of rising inflationary pressures and the IMF had also revised its global inflation projections upwards.

“While noting these developments and the increasing frequency of global supply shocks, the MPC emphasized the importance of increasing external and fiscal buffers to further strengthen the economy’s resilience. The committee also reiterated that continuing the prudent monetary and fiscal policy mix, alongside timely implementation of structural reforms, is essential for achieving higher and sustainable economic growth,” the statement said.

Regarding inflation, which eased to 10.3pc in September from 11pc in Augus, the MPC said that the re-escalation in the Middle East conflict and domestic wheat supply frictions were two major factors keeping inflation at elevated levels

It said that their expected continuation over the next few months had “worsened the inflation outlook”. It added that there was a risk that elevated food and energy inflation may further increase inflation expectations, which may seep into core inflation going forward.

“In view of these developments and increasing risks to the inflation outlook, the committee assessed today’s decision as important to keep the real policy rate adequately positive on forward-looking basis. This is necessary to bring inflation within the target range over the medium term. The inflation outlook is subject to multiple risks, including geopolitical tensions, global commodity price volatility, unanticipated adjustments in energy tariffs, further uptick in wheat and allied product prices and adverse weather conditions,” it said.

Regarding the external sector, the statement said that exports were recovering, adding that remittances had remained resilient and were projected to turn out higher than the earlier assessment.

It said that the current account deficit in FY27 was assessed to remain within the earlier projected range of 0-1pc of GDP.

“This, along with higher financial inflows, is expected to increase SBP’s FX reserves beyond the current level. This outlook, however, remains susceptible to multiple risks, including elevated global commodity prices, tightening international financial conditions, and supply constraints,” it said.

As per the statement, the committee expected GDP growth to remain within previously projected ranges of 3.5pc to 4.5pc in FY27. However, it added that the outlook was susceptible to risks from escalation in the Middle East conflict and adverse climate events such as El Niño conditions.

SBP governor cites inflationary outlook

SBP Governor Jameel Ahmed also addressed a press conference to announce the decision and said there were many “underlying factors” behind the decision, especially the inflation outlook.

He cited the US-Israel war on Iran and its impact on energy and oil prices, developments in the domestic market and the subsequent impact on inflation.

He said that nine out of ten MPC members voted to raise the policy rate, while one member had a different view; they were of the opinion that it should be raised further.

He said that consumer expectations and other forecasters’ views were taken into consideration, as well as other macro factors, especially the impact of global commodity and oil prices on the external account and the impact of remittances and export trends.

Ahmed noted a deterioration in the current account since the last MPC meeting. However, he added: “The good thing is that its impact is still between zero and one per cent of GDP and it will stay between that.”

He also shared that the central bank revised its outlook on remittances, from $44 billion to $45bn. On exports, the SBP governor said the trend was witnessing an improvement; however, it was not yet in line with the economy’s needs. He added that the bank estimated imports to be close to $71bn.

He said it would take longer than planned for inflation to get within the target range and revised GDP growth to 3.7pc for the current fiscal year ending June 30, 2027.

Meanwhile, Topline Securities said the central bank had raised the policy rate “in line with our expectations”.

Previously, the policy rate was 11.5pc. The central bank had held the rate steady since raising it by 100 basis points in April in response to rising global energy prices and supply chain risks — its first increase in nearly three years.

The SBP has cut the key rate by a cumulative 1,050 basis points since mid-2024, from a record 22pc reached in June 2023, as inflation cooled sharply from multi-decade highs.

Last week, the IMF called for Pakistan’s fiscal policy to go beyond achieving primary balance targets and protecting debt sustainability by reinforcing policy credibility, fostering economic recovery and creating space for public investment and social spending to support stronger long-term growth.

Additional input from Reuters