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Pakistan launches first sovereign framework to raise green and social financing

Pakistan launches first sovereign framework to raise green and social financing
A man sits outside a bank along a street in Rawalpindi on July 15, 2023. (AFP/File)
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Updated 17 min 58 sec ago

Pakistan launches first sovereign framework to raise green and social financing

Pakistan launches first sovereign framework to raise green and social financing
  • Sustainable Fitch rates the framework ‘Excellent,’ citing alignment with global sustainability standards
  • Initiative is expected to improve access to international capital to support a more inclusive economy

KARACHI: Pakistan on Tuesday announced the launch of its first Sovereign Sustainable Finance Framework, setting out guidelines for issuing green, social and other sustainability-linked instruments as part of efforts to boost access to international capital and advance its environmental, social and governance (ESG) agenda.

The framework, developed with Citibank and Deutsche Bank as joint sustainability coordinators, has been aligned with leading global standards such as the International Capital Market Association’s principles for green and social bonds and the Loan Market Association’s guidelines for sustainable lending.

“This strategic initiative is expected to improve Pakistan’s access to international sustainable finance, helping to accelerate the country’s transition toward a more resilient and inclusive economy,” the finance division said in a statement.

Credit rating agency Sustainable Fitch provided an independent review, giving the framework its highest grade of “Excellent” for alignment with global best practices.

The statement said the opinion had been published on the Ministry of Finance’s website.

The framework will apply to all sovereign sustainable financing instruments, including bonds and international sukuks, and will be updated periodically to reflect evolving market practices and Pakistan’s ESG commitments.

The initiative forms part of the government’s broader strategy to diversify funding sources and tap international capital markets, with plans to issue Panda Bonds, to help ease fiscal pressures while showcasing the country’s shift toward green and inclusive growth.


Saudi Airlines veteran turns restaurateur, blending history and food in Karachi

Saudi Airlines veteran turns restaurateur, blending history and food in Karachi
Updated 59 min 29 sec ago

Saudi Airlines veteran turns restaurateur, blending history and food in Karachi

Saudi Airlines veteran turns restaurateur, blending history and food in Karachi
  • Asiya Rizvi opened CafĂ© 1947 in May with her neurodivergent son and nephew as co-owners
  • It runs a rotating menu from Afghan to Palestinian cuisine, donating proceeds from select dishes

KARACHI: When former Saudi Airlines flight attendant Asiya Rizvi opened a restaurant in Karachi’s upscale Defense neighborhood earlier this year, she brought not only her mother’s Mughlai recipes but also a trove of dishes she discovered during 15 years of flying with colleagues from around the world.

The result is CafĂ© 1947, an eatery that blends food with history and is co-owned by two neurodivergent children: Rizvi’s 12-year-old son, Shabbar Ali, who has Down syndrome, and her relative’s son, Raza Shah, who is autistic.

Rizvi, who worked as cabin crew from 1999 to 2014 and flew with colleagues from 51 nationalities, said she often exchanged food and stories with women from different cultures.

“We used to stay with each other for a week or a couple of days,” she told Arab News. “We used to talk about food, what to cook, what to eat. We used to try each other’s food.”

Those exchanges inspired her to design a rotating seven-day menu: Afghan cuisine on Mondays, Chinese on Tuesdays, Pakistani on Wednesdays, Mughlai on Thursdays, Palestinian on Fridays and Middle Eastern and fusion dishes on weekends.

Rizvi said she left her aviation career to care for her son, remained associated with the real estate industry and eventually opened the restaurant in May this year.

Named CafĂ© 1947 by S&R — after the initials of the two children — it reflects her personal journey and her mission to build a future for her son.

“I have done this for him,” she said of her son, who helps in the kitchen. “I want Shabbar to be a chef, a baker. The business idea came from Shabbar. If Allah has blessed you with a special child, you have to take special care of them.”

Her husband, Syed Asad Ali, a banker, also vouched for the boy’s passion.

“He stays in the kitchen
 He is taking a lot of interest in baking particularly.”

The café’s name is also deliberate.

“We are giving a cultural history with food. So, we thought its name should have a historical aspect. That’s why we selected CafĂ© 1947,” Ali said, noting it referred to the year of Pakistan’s independence.

FLAVORED STORIES

The storytelling does not end with the menu. Rizvi’s elder daughter, Aemal Zahra, works part-time, explaining the origins of dishes to diners.

“My main role is helping out in the kitchen and when guests come, because our dishes are quite unique, I explain their history and their taste profile to our customers,” she said, before introducing Musakhan Chicken, a Palestinian dish traditionally cooked during the olive harvest.

“Its main ingredient is olive oil,” she told the diners. “The flavor has a lot of cinnamon, black pepper, sumac and allspice. It is very rustic and it is covered with caramelized onions.”

For Rizvi, Palestine carries special significance.

“We should raise the issue of Palestine from every platform. We decided to make their national dish a part of our cuisine,” she said, adding that proceeds from some dishes are donated to humanitarian causes.

HOMEMADE TOUCH

Customers say the café offers both taste and authenticity.

“Today we have come here since I wanted to eat Chapli Kabab,” said Adnan Hussain, a textile businessman. “It’s amazing. I have never eaten such delicious Chapli Kabab.”

He also tried Musakhan Chicken after Zahra explained its history.

“It’s a new experience. It’s a new dish. It’s a new flavor,” he said.

Another visitor, Mubeen Khurram, praised the “homemade feel.”

“The food was very delicious,” he said. “The rotating menu makes you want to come again. Tomorrow you’ll get a different experience.”

Rizvi acknowledges small adjustments are sometimes made for local palates.

“When food travels, there is variation,” she said, noting that Afghan and Arab dishes are spiced up to suit Pakistani tastes.


Attack near paramilitary force headquarters in Quetta leaves nine people and four militants dead

Attack near paramilitary force headquarters in Quetta leaves nine people and four militants dead
Updated 30 September 2025

Attack near paramilitary force headquarters in Quetta leaves nine people and four militants dead

Attack near paramilitary force headquarters in Quetta leaves nine people and four militants dead
  • Provincial health minister says many of the 32 injured are critical and being treated at Quetta’s Trauma Center
  • Balochistan chief minister says security forces responded promptly and repelled the ‘cowardly’ militant attack

QUETTA: A powerful blast near the Frontier Corps (FC) headquarters in Quetta, the capital of Pakistan’s restive Balochistan province, killed at least nine people and triggered a shootout in which four militants were slain, according to top provincial ministers on Tuesday.

Balochistan, which borders Afghanistan and Iran, is strategically significant for its vast mineral wealth and as a transit hub for the multibillion-dollar China-Pakistan Economic Corridor (CPEC). Yet, the province has long been gripped by separatist violence, with groups such as the Baloch Liberation Army (BLA) intensifying attacks in recent years.

So far, no militant outfit has claimed responsibility for Tuesday’s bombing.

“Nine people have been killed in the attack near the FC Headquarters,” Bakht Muhammad Kakar, provincial health minister, told Arab News after the attack. “Thirty-two injured of the blast have been shifted to a hospital in Quetta. Many of them are critical and being treated at the Trauma Center.”

Security officials cordon off the site after an explosion near the Frontier Corps Headquarters in Quetta on September 30, 2025. (AN Photo)

The minister did not provide further details, but CCTV footage of the incident reviewed by Arab News suggested it was a targeted suicide attack on the FC Balochistan compound.

Witnesses reported a plume of smoke rising from the site on Quetta’s Haali Road, followed by gunfire that continued for more than 10 minutes.

When asked how many soldiers were among the dead, Kakar said: “We cannot confirm yet since the rescue operation is still continuing.”

Balochistan Chief Minister Mir Sarfraz Bugti said in a statement later security forces had promptly responded to the assault and killed four militants.

He condemned the bombing as a “cowardly act” and reaffirmed his government’s commitment to making the province peaceful and secure.

Security officials cordon off the site after an explosion near the Frontier Corps Headquarters in Quetta on September 30, 2025. (AN Photo)

He also expressed solidarity with the victims’ families and prayed for the swift recovery of the injured.

Separatist militant groups in Balochistan accuse Pakistan of depriving locals of a fair share in the province’s natural resources, allegations Islamabad denies.

However, the province has witnessed a string of high-profile attacks since the beginning of the year. In March, the BLA hijacked a passenger train, and in May, a suicide bombing in Khuzdar killed several children after targeting their school bus.

Security forces, civilians and non-local workers are frequently targeted by separatist groups in the region, though authorities have mainly relied on intelligence-based operations rather than launching a full-scale military campaign.


Pakistan include uncapped Afridi, Akram and Nazir for upcoming South Africa Test series

Pakistan include uncapped Afridi, Akram and Nazir for upcoming South Africa Test series
Updated 30 September 2025

Pakistan include uncapped Afridi, Akram and Nazir for upcoming South Africa Test series

Pakistan include uncapped Afridi, Akram and Nazir for upcoming South Africa Test series
  • Pakistan will play two-Test match series against South Africa from oct. 12-24 in Lahore and Rawalpindi
  • Skipper Shan Masood to lead squad while Pakistan select stalwarts Babar Azam, Mohammad Rizwan for series

KARACHI: Pakistan have named three uncapped players Asif Afridi, Faisal Akram and Rohail Nazir for the upcoming South Africa Test series scheduled to take place later this month, the Pakistan Cricket Board (PCB) said in a statement on Tuesday. 

South Africa, champions of the ICC World Test Championship 2023-25, will take on Pakistan in the first Test at the Qaddafi Stadium in Lahore from Oct. 12-16. The second and final match of the two-Test series will be played at the Rawalpindi Cricket Stadium from Oct. 20-24.

Pakistan’s national selection committee announced the 18-member Test squad for the series, which will be part of the World Test Championship 2025-27 cycle. The PCB announced that the squad will be further trimmed ahead of the first Test. 

“Shan Masood will continue to lead the side, while three uncapped players – Asif Afridi, Faisal Akram and Rohail Nazir have also been included,” the PCB said in a statement. 

The squad includes Aamir Jamal, Abdullah Shafique, Abrar Ahmed, former Pakistan captain Babar Azam, Akram, Hasan Ali, Imam-ul-Haq, Kamran Ghulam, Khurram Shahzad, Mohammad Rizwan (wicket-keeper), Noman Ali, Nazir (wicketkeeper), Sajid Khan, T20I skipper Salman Ali Agha, Saud Shakeel, and pacer Shaheen Shah Afridi. 

The two-Test match series will be followed by three T20Is and as many ODIs, to be played from Oct. 28 to Nov. 8. The squad for the white-ball series will be announced in due course.

TOUR SCHEDULE

Oct. 12-16– First Test at Qaddafi Stadium, Lahore

Oct. 20-24 – Second Test at Rawalpindi Cricket Stadium, Rawalpindi

Oct. 28– First T20I at Rawalpindi Cricket Stadium, Rawalpindi

Oct.31 – Second T20I at Qaddafi Stadium, Lahore

Nov. 1 – Third T20I at Qaddafi Stadium, Lahore

Nov. 4 – First ODI at Iqbal Stadium, Faisalabad

Nov. 6– Second ODI at Iqbal Stadium, Faisalabad

Nov. 8 – Third ODI at Iqbal Stadium, Faisalabad

Pakistan will look to begin their World Test Championship 2025-27 on a winning note against South Africa and put behind their five-wicket loss to India in the Asia Cup 2025 tournament. 


Pakistan says Finnish industrial giant Metso interested in providing technology, training for Reko Diq

Pakistan says Finnish industrial giant Metso interested in providing technology, training for Reko Diq
Updated 30 September 2025

Pakistan says Finnish industrial giant Metso interested in providing technology, training for Reko Diq

Pakistan says Finnish industrial giant Metso interested in providing technology, training for Reko Diq
  • Metso would provide modern mining technology, equipment and train local workforce, says Pakistan’s railways ministry 
  • Reko Diq mine in southwestern Pakistan is recognized as being among world’s largest untapped copper and gold deposits 

ISLAMABAD: Finland-based industrial giant Metso is interested in providing modern mining technology and training to the local workforce for the Reko Diq copper and gold mine project, Pakistan’s railways ministry said in a press release on Tuesday. 

The Reko Diq mine, located in Pakistan’s largest and poorest southwestern Balochistan province, is among the world’s biggest untapped deposits of copper and gold, with the project estimated to generate $90 billion over the next 37 years. The project, long stalled by legal disputes and political wrangling, was revived after a 2022 settlement with Canada’s Barrick Gold. Islamabad has since touted the mine as a potential driver of growth and foreign exchange earnings.

Pakistan’s Minister of State for Finance and Railways Bilal Azhar Kayani met the president of Metso’s Minerals division, Pia Karhu, in Islamabad to discuss investment opportunities in Pakistan’s minerals sector, the railways ministry said. 

“Ms. Karhu stated that Metso would provide modern mining technology and equipment, and would also offer training to the local workforce,” the railways ministry said. “She shared the company’s future plans, stating that Metso intends to participate in the Reko Diq project by providing mining technology and services.”

Metso describes itself as a “frontrunner” in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally.

Kayani informed the Metso official about the country’s plans to upgrade its ML-1 and ML-3 railway lines to support the Reko Diq project’s “timely completion,” the statement said. The ML-1 is a long-delayed railway modernization project — a planned multi-billion-dollar upgrade of Pakistan’s 150-year-old main railway line from Karachi in the south to Peshawar near the Afghan border. 

Meanwhile, the ML-3 will be a new railway line for the copper and gold mine project from Balochistan’s Chaman city to Rohri in Sindh.

Kayani mentioned that the Reko Diq project is expected to be operational by December 2028. 

“He welcomed Metso’s potential involvement in Pakistan’s economic development,” the press release said. 

The railways ministry said both parties agreed to hold a follow-up meeting with technical experts from Pakistan’s Ministry of Railways to explore further investment and cooperation opportunities.

While Pakistan expects the project to provide a breakthrough fir its mining sector and overall economic development, Reko Diq’s location underscores the security and political challenges that have long dogged investment in southwestern Pakistan. 

Balochistan, which borders Iran and Afghanistan, has for decades faced a separatist insurgency. Armed groups have repeatedly attacked government facilities, the military, and infrastructure tied to foreign investment, including Chinese projects under the multi-billion-dollar China-Pakistan Economic Corridor.

 Insurgents say they are fighting for greater control over the province’s resources and for independence, while the state has described such attacks as “terrorism” threatening national stability.

Canada’s Barrick Gold company owns a 50 percent stake in the Reko Diq mine and the Pakistan and Balochistan governments own the other 50 percent. The project is expected to start production by the end of 2028 and will produce 200,000 tons of copper per year in its first phase, with an estimated cost of $5.5 billion.


ICC features Pakistan’s Sidra Amin in ‘batters tipped to shine’ in World Cup

ICC features Pakistan’s Sidra Amin in ‘batters tipped to shine’ in World Cup
Updated 30 September 2025

ICC features Pakistan’s Sidra Amin in ‘batters tipped to shine’ in World Cup

ICC features Pakistan’s Sidra Amin in ‘batters tipped to shine’ in World Cup
  • ICC Women’s Cricket World Cup gets underway from today with India-Sri Lanka clash, will conclude on Nov. 2
  • Amin, 33, has 2,271 runs from 77 ODIs and has scored back-to-back centuries against South Africa this month

ISLAMABAD: The International Cricket Council (ICC) has included Pakistani cricketer Sidra Amin in its list of “batters tipped to shine” at the Women’s World Cup 2025, which is set to kick off from today, Tuesday, with the first contest scheduled between India and Sri Lanka. 

The 13th edition of the ICC Women’s Cricket World Cup will take place from Sept. 30 to Nov. 2 in India and Sri Lanka. There are no groups at the Women’s World Cup, with all eight teams set to play seven matches during the group stage and the top four sides on the standings then progress to the knockout semifinal stage. 

Amin, 33, is a veteran Pakistani woman cricketer who has played 77 ODIs and 66 T20Is for her country. She has scored 2,271 runs in ODIs and 1,044 runs in the shortest format of the game and is considered one of the key players for Pakistan. The Pakistani woman cricketer scored back-to-back centuries against South Africa this year, cementing her status as one of the finest women batters in modern-day cricket. 

“In seven ODIs this year, she has crossed fifty more often than not and has been her country’s leading run-getter,” the ICC said in its latest report. “At 33, Sidra is finally combining experience with productivity and her calm approach at the top of the order will be beneficial for Pakistan.”

The cricket governing body said it would be fascinating to see how Amin takes on the best pacers during the world cup tournament. 

The article also features seven other batters, including Australia’s Beth Mooney, Bangladesh’s Sharmin Akhter Supta, England’s Natalie Sciver-Brunt, India’s Smriti Mandhana, New Zealand’s Georgia Plimmer, South Africa’s Marizanne Kapp and Sri Lanka’s Harshitha Samarawickrama as players to watch out for during the tournament. 

Mandhana reclaimed the top spot in the ICC ODI Batter Rankings earlier this year, scoring more than 800 runs in 2025 alone at an average above 60. 

“Mandhana already has over 4,800 ODI runs in her career and has become the most reliable opener India have produced since Mithali Raj,” the report said. “What makes her so important is not just the volume of runs but the timing of them.”

Pakistan begin their campaign for the world title against Bangladesh on Oct. 2.