Pakistan plans to access USD, Euro, Islamic Sukuk markets ‘in due course’ — finmin

Pakistan plans to access USD, Euro, Islamic Sukuk markets ‘in due course’ — finmin
Pakistan’s Finance Minister Muhammad Aurangzeb (third right) meets a high-level delegation of Acumen board members in Islamabad, Pakistan, on October 7, 2025. (Ministry of Finance)
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Pakistan plans to access USD, Euro, Islamic Sukuk markets ‘in due course’ — finmin

Pakistan plans to access USD, Euro, Islamic Sukuk markets ‘in due course’ — finmin
  • High-level Acumen delegation led by founder Jacqueline Novogratz meets finance minister in Islamabad
  • Finance minister highlights tax, energy and privatization reforms to boost investor confidence

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb said on Tuesday the country plans to tap the US dollar, euro and Islamic sukuk markets “in due course” as part of efforts to diversify funding sources and sustain economic stability.

The announcement came during a meeting with a high-level Acumen delegation led by founder and Chief Executive Officer Jacqueline Novogratz. The delegation of board members and global investors is visiting Pakistan to meet government officials and private stakeholders in a move seen as a sign of renewed foreign interest in the South Asian nation’s economy.

“Aurangzeb also discussed Pakistan’s plans to issue its inaugural Panda Bond before the year’s end and its intent to access USD, Euro, and Islamic Sukuk markets in due course,” the Finance Division said in a statement after the meeting.

A Panda Bond is a type of debt issued by a foreign borrower in China’s domestic market, denominated in renminbi (RMB). It enables foreign governments and companies to raise funds from Chinese investors and broaden their financing base.

“The Minister reaffirmed that the private sector must lead Pakistan’s economic growth, while the government’s role is to provide a supportive ecosystem,” the finance ministry statement said.

“He highlighted Pakistan’s move toward an export-led growth model, supported by tariff reforms and responsible fiscal management, aimed at ending the boom-and-bust cycle.”

Aurangzeb appreciated Acumen’s continued engagement in Pakistan, particularly its focus on agriculture and climate resilience. He also informed the delegation about the clearance of backlogs in repatriating foreign profits and dividends, noting that the recent $500 million Eurobond repayment had been handled as a routine transaction, a sign of returning macroeconomic stability.

Aurangzeb highlighted Pakistan’s focus on structural reforms in taxation, energy and privatization, including the final stages of Pakistan International Airlines’ divestment and the planned privatization of power distribution companies. 

The minister also underscored Pakistan’s commitment to climate-resilient development, noting that the country faces twin challenges of population growth and climate change, which have intensified floods and droughts in recent years. He said policies promoting decarbonization, nutrition and education were being embedded in Pakistan’s ten-year Country Partnership Framework with the World Bank — a long-term plan that guides the Bank’s support for the country’s economic and climate priorities.

According to the finance ministry statement, Novogratz said expanding access to finance for Pakistan’s young talent could help transform innovative ideas into scalable businesses and reaffirmed Acumen’s commitment to invest in agriculture, climate resilience, energy and poverty reduction in the country. 

The delegation also discussed progress on Acumen’s $90 million Agriculture Resilience Fund for Pakistan, which aims to promote climate-smart farming and sustainable food systems. 


US names Pakistan, among buyers in new American air-to-air missile deal

US names Pakistan,  among buyers in new American air-to-air missile deal
Updated 07 October 2025

US names Pakistan, among buyers in new American air-to-air missile deal

US names Pakistan,  among buyers in new American air-to-air missile deal
  • Department of War lists both nations in $41.7 million Raytheon contract for fighter-jet missiles
  • Separate $24 million award covers communications upgrades on Saudi F-15 aircraft

ISLAMABAD: The US Department of War has named Pakistan and among countries included in a new contract for the supply of US-made air-to-air missiles, while separately approving a deal to improve communications systems on Saudi fighter jets, according to an official statement released on its website.

In its Sept. 30 bulletin, the Department of War said it had awarded Raytheon Missiles & Defense a $41.68 million modification “to provide production support for the Advanced Medium-Range Air-to-Air Missile,” a weapon designed to enable fighter aircraft to destroy enemy planes at long range.

The same announcement listed a wide range of US allies and partners receiving the system through the Foreign Military Sales program.

“This contract involves foreign military sales to United Kingdom, Poland, Pakistan, Germany, Finland, Australia, Romania, Qatar, Oman, Korea, Greece, Switzerland, Portugal, Singapore, Netherlands, Czech Republic, Japan, Slovakia, Denmark, Canada, Belgium, Bahrain, , Italy, Norway, Spain, Kuwait, Finland, Sweden, Taiwan, Lithuania, Israel, Bulgaria, Hungary and Turkiye,” the Department of War statement read.

The release did not specify how many missiles each country would receive or when deliveries would begin, details that are typically disclosed later through government-to-government filings.

The contract funds ongoing production of the Advanced Medium-Range Air-to-Air Missile (AMRAAM), which is used by more than 40 countries. Pakistan employs the system on its F-16 fighter jets, while operates it on F-15 aircraft.

Pakistan’s defense ministry had not issued any public comment on the latest contract listings as of Tuesday.

In a separate notice, the Department of War announced a $24.17 million contract for technical support to upgrade Link-16, a secure tactical data network that enables Saudi F-15 pilots and command centers to share real-time information on targets and threats. The work will be carried out in and continue through March 2031, the department said.

Both awards reflect Washington’s continuing defense cooperation with partners in the Middle East and South Asia. While Pakistan and are regularly listed in such multi-nation programs, the Department of War rarely releases individual country breakdowns in initial contract statements.

The Advanced Medium-Range Air-to-Air Missile has been a cornerstone of US and allied air defense for over three decades, capable of striking airborne targets at ranges exceeding 30 kilometers depending on the variant. 


Punjab disaster agency warns of possible medium flood in Sutlej river this week

Punjab disaster agency warns of possible medium flood in Sutlej river this week
Updated 07 October 2025

Punjab disaster agency warns of possible medium flood in Sutlej river this week

Punjab disaster agency warns of possible medium flood in Sutlej river this week
  • PDMA says Ganda Singh Wala point may see medium flood as river levels rise
  • Monsoons have killed over 1,000 people, damaged millions of acres of farmland

ISLAMABAD: The Provincial Disaster Management Authority (PDMA) Punjab on Tuesday warned that the River Sutlej could reach medium flood level within the next 24 hours, with the level expected to persist for up to two days, though most rivers across the province currently remain within safe limits.

The advisory follows weeks of heavy monsoon rains that have killed more than 1,000 people nationwide, displaced thousands, and damaged over 2.5 million acres of farmland, according to official figures. Punjab — Pakistan’s agricultural heartland — has experienced repeated flooding since August after excess water releases from India and persistent rainfall left riverbanks and embankments saturated.

“The River Sutlej at Ganda Singh Wala is expected to reach the Medium Flood Level within the next 24 hours and sustain the level for the subsequent two days,” the PDMA said in its latest advisory, referring to a border town and river monitoring point located near Kasur district in Punjab along the Pakistan–India border.

The agency said water levels in the Sutlej and Ravi rivers depend on releases from Indian reservoirs and directed all divisional commissioners and deputy commissioners to remain on high alert. It also placed the Health, Irrigation, Communication and Works, Local Government, and Livestock Departments on standby for possible flood response operations.

PDMA Director General Irfan Ali Kathia said the River Sutlej currently has a low flood level at the Ganda Singh Wala point, adding that flows could increase in the next 48 hours due to upstream inflows and rainfall in the catchment areas.

“District administrations have been directed to stay alert as water levels in Punjab’s rivers and associated tributaries may rise due to continuing rainfall,” Kathia said.

The PDMA instructed all relevant departments to ensure round-the-clock staffing in emergency centers, activation of early warning systems, and pre-placement of heavy machinery in at-risk areas to manage potential breaches or road damage.

Citizens were urged to exercise caution during bad weather and stay informed through official PDMA updates. The agency said its control room was monitoring river flows continuously, coordinating with the Irrigation Department and local administrations for real-time response.


Pakistan, regional powers reject any return of foreign bases in Afghanistan 

Pakistan, regional powers reject any return of foreign bases in Afghanistan 
Updated 07 October 2025

Pakistan, regional powers reject any return of foreign bases in Afghanistan 

Pakistan, regional powers reject any return of foreign bases in Afghanistan 
  • Statement comes after Trump said US seeks to “get Bagram back” for strategic location near China
  • Statement was issued by regional powers after a Moscow Format meeting in the Russian capital

ISLAMABAD: Major regional powers, including Pakistan, China, Russia, Iran and India, said in a joint statement on Monday there should be “no foreign military presence” in Afghanistan, calling on all nations to respect the country’s sovereignty and territorial integrity as part of efforts to stabilize the region.

The joint statement, issued after a Moscow Format meeting in the Russian capital, followed US President Donald Trump’s Sept. 18 remarks that Washington was “trying to get [Bagram] back” because of its strategic location near China. The Soviet-built base served as the hub of US military operations in Afghanistan until the 2021 withdrawal that ended two decades of American presence in the war-torn nation.

“Participants emphasized that there should be no foreign military presence in Afghanistan and its neighboring countries under any pretext,” the Moscow Format statement said.

“We reaffirmed our support for Afghanistan as an independent, united, sovereign, and peaceful state, free from external interference.” 

The statement did not specifically name the United States or reference Trump’s remarks on Bagram. 

The seventh round of the Moscow Format brought together special representatives and senior officials from Pakistan, China, Russia, India, Iran, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, along with an Afghan delegation led by interim Foreign Minister Amir Khan Muttaqi, who participated as a full member for the first time.

At the forum, participating nations also called on Afghanistan to take “comprehensive measures” to eliminate terrorism from its soil.

“The territory of Afghanistan must not be used to threaten or attack any country or shelter terrorist groups,” the statement said. 

Pakistan’s participation at the conference comes at a time of strained relations between Islamabad and Kabul, marked by rising militant attacks that Pakistan says are being launched from Afghan territory. The Taliban government denies it backs militant groups. 

Islamabad has nonetheless continued diplomatic engagement with the Taliban administration since the group’s return to power in August 2021, keeping its embassy in Kabul open and hosting multiple high-level delegations, including Muttaqi himself. The two sides have also held recent trilateral meetings with China focused on expanding the China-Pakistan Economic Corridor (CPEC) into Afghanistan and improving trade and regional connectivity. Pakistani officials have said they seek a “pragmatic relationship” with Taliban authorities based on counterterrorism, border security, and economic cooperation.

“The parties emphasized that Afghanistan should be supported to undertake comprehensive measures aimed at the elimination of terrorism and its eradication within a short timeframe so that Afghan soil is not used as a threat to the security of the neighboring countries and beyond,” the joint statement said.

Separately, Pakistan’s Special Representative on Afghanistan, Muhammad Sadiq Khan, said in a post on X that a quadrilateral meeting of Pakistan, China, Russia and Iran was also held on the sidelines of the forum. 

“A particular point of concern was the continued presence of designated terrorist organizations, such as Tehreek-e-Taliban Pakistan (TTP), Balochistan Liberation Army (BLA), East Turkestan Islamic Movement (ETIM), Jaish ul-Adl (JUA), Islamic State of Iraq and the Levant (ISIL) and Al-Qaeda,” Khan said, listing different groups that have claimed attacks in Pakistan. 

He added that participants of the meeting expressed concern over the presence of designated terror groups in Afghanistan, underscoring the need for an Afghanistan free from “terrorism” and foreign interference. Kabul has repeatedly denied it backs terror outfits. 

In the joint statement, participating nations also urged closer regional cooperation to strengthen counterterrorism coordination and humanitarian assistance.

All participating countries expressed interest in developing economic, trade and investment partnerships with Afghanistan to promote sustainable development, health care, agriculture, and poverty alleviation. They also voiced support for Afghanistan’s integration into regional connectivity frameworks.

Participants urged the international community to continue providing humanitarian aid to the Afghan people and called “unacceptable the attempts by countries to deploy their military infrastructure in Afghanistan and neighboring states,” saying such moves would not serve regional peace or stability.

The Moscow Format, established in 2017, is one of the most prominent regional mechanisms for dialogue on Afghanistan, bringing together neighboring states and major stakeholders to coordinate policy on security, economic development, and humanitarian cooperation.

Analysts said the consultations provide an important mechanism for regional powers to collectively push the Afghan Taliban toward meeting international expectations on governance, human rights and counterterrorism, conditions viewed as essential for political legitimacy and long-term stability.

“This forum will enable all major regional countries to try to mutually persuade Afghan Taliban that their political legitimacy, international recognition, economic stability and regional integration depend on their political will and ability to fulfill their international obligations,” said Syed Muhammad Ali, an Islamabad-based security analyst.

Dr. Qamar Cheema, Executive Director of the Sanober Institute in Islamabad, said Pakistan has been trying to help the Taliban understand that they are now governing a state, not operating as non-state actors.

“Pakistan is making multilateral forums more active for Afghan Taliban so that they can become responsible,” he told Arab News. “So, all the regional players, when they will push and pressurize Taliban, that will definitely make Afghan Taliban more responsible,” Cheema added. 

“The more Pakistan pressurizes through friends and partners, the better it will be for the regional peace.”  


Pakistan launches $10 million World Bank–backed project to modernize flood warning network

Pakistan launches $10 million World Bank–backed project to modernize flood warning network
Updated 07 October 2025

Pakistan launches $10 million World Bank–backed project to modernize flood warning network

Pakistan launches $10 million World Bank–backed project to modernize flood warning network
  • Plan includes 110 automatic weather stations, four radars, high-performance computing system for real-time forecasting
  • Over 1,000 people have been killed nationwide, 2.5 million acres of farmland damaged in latest monsoon season

ISLAMABAD: Pakistan has launched a $10 million World Bank–backed project to modernize its early flood warning and weather forecasting network, aimed at strengthening national disaster preparedness and climate resilience, state-run Associated Press of Pakistan (APP) reported on Tuesday.

The announcement comes after one of Pakistan’s deadliest monsoon seasons in years, which has killed at least 1,037 people nationwide and damaged nearly 2.5 million acres of farmland, according to the National Disaster Management Authority (NDMA). Torrential rains have repeatedly inundated vast areas of Punjab and Sindh, destroying homes, crops and infrastructure, and underscoring the country’s urgent need for modern forecasting systems.

The new initiative, titled “Modernization of Hydromet Services of Pakistan (MHSP),” is being implemented by the Pakistan Meteorological Department (PMD) under the World Bank–funded Integrated Flood Resilience Adaptation Project (IFRAP). It seeks to strengthen climate resilience by improving the PMD’s capacity to generate, interpret and disseminate accurate hydrometeorological data.

“The MHSP will mark a key milestone in Pakistan’s disaster preparedness and climate resilience, providing timely and precise weather forecasts essential for agriculture, water resource management, and disaster risk reduction across the country,” a senior Planning Ministry official was quoted as saying in an APP report.

Led by the Ministry of Planning, the project has been allocated Rs2.99 billion ($10.8 million) under the FY2025–26 Public Sector Development Programme. 

According to project details reported by APP, the plan includes the installation of 110 automatic weather stations, four fixed weather surveillance radars, and a high-performance computing system to improve real-time monitoring and forecasting accuracy. 

The project also involves the modernization of the Institute of Meteorology and Geophysics and the Meteorological Workshop in Karachi, the establishment of Regional Climate Data Processing Centers and the development of a National Framework for Climate Services and a National Hydromet Policy.

As of September 2025, procurement for automatic weather stations has been finalized, while the technical evaluation of radar and system integrator consultancies is underway. The PMD has also sought tax exemptions and supplementary funding of $42 million to address increased market costs and a financing gap identified during project execution.

Officials said the MHSP forms part of Pakistan’s broader effort to enhance flood forecasting and disaster management capacity after a series of devastating monsoon seasons that have exposed weaknesses in existing early warning systems.

Floods in 2022 killed at least 1,700 people and caused over $30 million in damages. 


Gunmen abduct senior judge, torch court in Pakistan’s Balochistan — police

Gunmen abduct senior judge, torch court in Pakistan’s Balochistan — police
Updated 07 October 2025

Gunmen abduct senior judge, torch court in Pakistan’s Balochistan — police

Gunmen abduct senior judge, torch court in Pakistan’s Balochistan — police
  • Armed men attack lower court in Kharan district’s Maskan Kalat area, take judge hostage
  • Balochistan is facing intensifying separatist attacks targeting officials and infrastructure

QUETTA: Gunmen this week kidnapped a senior judge and set fire to a lower court in Pakistan’s southwestern province of Balochistan, police said on Tuesday.

The attack took place in the Maskan Kalat area of Kharan district while court hearings were underway. Armed men stormed the premises, ransacked records, destroyed furniture and briefly held court staff hostage before abducting Judge Qazi Ahmed Jan, according to police.

Balochistan, Pakistan’s largest but least-developed province, has for years faced a separatist insurgency that has intensified recently, with militants increasingly targeting security personnel, government offices, infrastructure and non-local residents.

In the latest attack, unidentified gunmen attacked the court on Monday morning, Deputy Inspector General of Police Abdul Haye Amir Baloch said.

“The gunmen set the court on fire and kidnapped a senior judge Qazi Ahmed Jan while he was inside the court and hearing the proceedings,” Baloch told Arab News.

“Search operation is continuing for the safe recovery of the kidnapped judge,” he added. “Police and other law enforcement agencies are pursuing the kidnappers.”

No group has claimed responsibility for the attack and it is unclear if it was a militant attack.

This is not the first time a judge has been abducted in Pakistan. Last year, suspected militants kidnapped Judge Shakirullah Marwat in northwestern Khyber Pakhtunkhwa province while he was traveling from his hometown to Dera Ismail Khan. Marwat was later released. 

Islamabad has for years accused India of supporting militant groups to foment unrest in Pakistan, an allegation New Delhi denies.

Balochistan, rich in minerals and home to key China-Pakistan Economic Corridor routes and projects, has seen several high-profile attacks this year, including the hijacking of a passenger train in March and a May suicide bombing in Khuzdar that killed several children traveling to school.