Pakistan clears sale of First Women Bank to UAE-based entity under reform push

Pakistan clears sale of First Women Bank to UAE-based entity under reform push
Deputy Prime Minister Ishaq Dar (center) chairs a meeting of the Cabinet Committee on Inter-Governmental Transactions in Islamabad, Pakistan, on October 15, 2025. (PID)
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Pakistan clears sale of First Women Bank to UAE-based entity under reform push

Pakistan clears sale of First Women Bank to UAE-based entity under reform push
  • Established in 1989, the bank was to promote women’s economic participation and inclusion
  • Government seeks to boost foreign investment, cut state’s economic footprint under IMF loan

KARACHI: Pakistan’s Cabinet Committee on Inter-Governmental Transactions on Wednesday approved a bid from a United Arab Emirates entity owned by International Holding Company (IHC) for the sale of the state-owned First Women Bank Limited (FWBL), marking a major step in the country’s long-delayed privatization drive.

Established in 1989, the FWBL was conceived as a development-oriented financial institution to promote women’s economic participation and financial inclusion. It was set up to address the limited access women had to formal banking channels and to provide them with tailored credit, savings and entrepreneurship services.

Last week, Pakistan’s Privatization Commission had cleared a key procedural step in the transaction by recommending a reference price to the federal cabinet for final approval.

“The Committee approved the bid offer, being higher than the reference price, for the privatization of First Women Bank Limited (FWBL),” said an official statement. “This key milestone paves the way for successful privatization and a G2G [government-to-government] transaction with the UAE’s nominated entity owned by International Holding Company (IHC), boosting FDI [foreign direct investment] inflows and reinforcing investor confidence in Pakistan.”

Deputy Prime Minister Ishaq Dar, who chaired the meeting, lauded the efforts of the Privatization Commission and reaffirmed the government’s commitment to economic reform and transparency in the privatization process.

The bank, whose mandate centered on empowering women through access to credit, savings and entrepreneurship opportunities, has seen its profitability decline in recent years, with its growth trajectory under strain.

The government moved to divest its stake in the institution earlier this year amid consistent pressure from the International Monetary Fund (IMF) under a $7 billion loan program to reduce the state’s footprint in the economy. 


Pakistan, US agree to expand joint research on hybrid, disease-resistant crops, livestock productivity

Pakistan, US agree to expand joint research on hybrid, disease-resistant crops, livestock productivity
Updated 25 sec ago

Pakistan, US agree to expand joint research on hybrid, disease-resistant crops, livestock productivity

Pakistan, US agree to expand joint research on hybrid, disease-resistant crops, livestock productivity
  • Meeting between food security minister and acting US envoy focus on expanding research collaboration in agriculture
  • Both sides agree to cooperate on digital farming, export compliance for mangoes, horticultural products to US market

ISLAMABAD: Pakistan and the United States agreed on Wednesday to deepen collaboration in agriculture through joint research on hybrid and disease-resistant crop varieties, local vaccine production and livestock breed improvement to boost productivity and exports, Pakistan’s food security ministry said.

Both sides reviewed ongoing projects and future priorities during a meeting between Federal Minister for National Food Security Rana Tanveer Hussain and Natalie A. Baker, the Acting US Ambassador to Pakistan, in Islamabad.

The discussions focused on advancing bilateral cooperation in agricultural trade, technology transfer and research partnerships under long-standing Pak-US agricultural frameworks.

“Pakistan is committed to advancing a resilient, sustainable and technology-driven agriculture sector through continued collaboration with the United States,” Hussain said after the meeting, expressing confidence that the partnership would open new avenues for agricultural innovation, investment and trade.

The minister highlighted the country’s growing dairy and livestock sectors, saying Pakistan was among the largest importers of Holstein cows from the United States.

He said efforts were underway to enhance animal health and productivity through a Foot and Mouth Disease (FMD)-free zone in Bahawalpur and a new traceability system aligned with international standards.

The US side expressed interest in collaborating on genetic improvement programs for dairy and beef cattle to strengthen export competitiveness.

Hussain acknowledged the role of US-funded programs such as the Agricultural Linkages Program (ALP) and the Wheat Productivity Enhancement Project (WPEP), saying they improved Pakistan’s agricultural resilience and research capacity.

The WPEP alone has helped develop 36 improved wheat varieties, increasing yields by up to 20 percent and improving resistance to rust diseases.

The minister also credited the Agricultural Innovation Project (AIP), a $30 million USAID-funded initiative, with introducing modern seed varieties, farm machinery and value-chain development across crops, dairy and horticulture.

The two sides agreed to strengthen cooperation in precision agriculture, digital farming and compliance mechanisms for the export of mangoes and horticultural products to the US market.


Taliban under pressure as deadly clashes with Pakistan can expose internal rifts – analysts

Taliban under pressure as deadly clashes with Pakistan can expose internal rifts – analysts
Updated 7 min 48 sec ago

Taliban under pressure as deadly clashes with Pakistan can expose internal rifts – analysts

Taliban under pressure as deadly clashes with Pakistan can expose internal rifts – analysts
  • Defense experts say divisions between Kandahar and Haqqani factions could widen if fighting continues
  • Analysts warn extended hostilities risk fueling anti-Pakistan sentiment and destabilizing frontier regions

ISLAMABAD: The deadly clashes between Pakistan and Afghanistan, which have killed dozens on both sides, could place the Taliban administration in Kabul under growing internal pressure if cross-border hostilities with Pakistan continue, analysts said on Wednesday.

Pakistan and Afghanistan announced a temporary ceasefire earlier in the day after some of the heaviest fighting along their frontier in recent years. Prior to that, Pakistan’s military said it had repelled coordinated attacks by Afghan Taliban fighters at multiple points along the border in Balochistan and Khyber Pakhtunkhwa provinces, accusing Kabul’s forces of destroying a key trade gate and endangering civilians.

Speaking to Arab News, Maj. Gen. (r) Inam-ul-Haq said the Taliban regime was divided between two dominant factions — the Kandaharis, who control the movement’s leadership and religious base, and the Haqqanis, who wield influence in Kabul and parts of eastern Afghanistan.

“There are already fissures between the Kandahar and Haqqani factions, and those will widen if such clashes continue,” he said. “They [the Taliban] understand this, which is why they will want to wrap it up quickly.”

Pakistan’s state media said on Wednesday that the military had launched “precision strikes” on Kandahar, the birthplace of the Taliban movement and home to its influential supreme leader, Mullah Haibatullah Akhundzada.

The Haqqani Network, led by Sirajuddin Haqqani, is another powerful faction within the Taliban and is seen as more open to negotiation due to its long-standing ties with Pakistan.

Haq said the Haqqanis appeared less involved in the current conflict.

“The decision-making is being led by the puritanical Kandahar faction rather than the pragmatic Kabul-based leadership,” he said.

The analyst noted that previous skirmishes between the two sides had remained “localized,” but this latest flare-up was “more spread out,” though he dismissed the possibility of a full-scale war.

“Pakistani forces dominate the heights along the international border, a decisive advantage in mountain warfare,” he said. “The Taliban don’t have the logistics or capability to sustain prolonged conflict.”

However, he expressed concern about the Taliban’s antagonism toward Pakistan, saying it was partly rooted in the narrative developed over two decades of war.

“Over the past 20 years, Pakistan was portrayed as the source of Afghanistan’s ills, past, present, and future,” he said. “That narrative has seeped deep into Afghan society, including the Taliban. Managing that resentment will be a long-term challenge.”

Asked if there was any opening for cooperation, Haq said there was a sliver of hope.

“Pakistan’s objective is simple: rein in the Tehreek-e-Taliban Pakistan [TTP],” he said. “The key is whether the Taliban are willing to cooperate.”

Pakistan has experienced a surge in militant attacks in its western provinces of Khyber Pakhtunkhwa and Balochistan that border Afghanistan, attributing the spike in violence to cross-border attacks on its civilians and security forces.

Officials in Islamabad have long accused Kabul of allowing militants affiliated with the TTP and the separatist Baloch Liberation Army (BLA) to use its soil to launch attacks against Pakistani civilians and security forces.

Afghanistan denies the allegations, blaming Islamabad for failing to manage its internal security.

Sami Yousafzai, who has written extensively about militancy in Pakistan and Afghanistan, said the clashes were as much about political legitimacy for the Kabul administration as they were about border management.

“This is a serious issue between two countries,” he said. “Hatred is spreading, and this time the clashes are getting serious.”

Yousafzai noted that the Taliban, who were widely viewed as close to Islamabad in the past, wanted “to get rid of the perception that they are Pakistan’s puppets.”

He added that while militarily weaker, the Taliban had gained politically at home by projecting defiance.

“They’ve strengthened their domestic standing by showing they can resist Pakistan,” he noted. “Pakistan, being a more stable state, cannot afford constant border skirmishes when it’s already facing challenges on its eastern front [with India].”

Yousafzai suggested diplomacy, not military escalation, offered the only sustainable path forward.

“If Pakistan wants to eliminate the TTP threat, it will have to engage the Taliban in talks,” he added.

Other analysts said the confrontation had been building for months amid militant activity and the breakdown of quiet diplomatic engagement.

“For months, Pakistan has accused the Afghan Taliban of sheltering TTP and Baloch militants,” said Ihsan Tipu Mehsud, co-founder of The Khorasan Diary, a conflict monitoring platform. “Those covering the border regions could sense that things were heading toward an open conflict.”

Abdullah Khan, managing director of the Pakistan Institute for Conflict and Security Studies, called the confrontation “the deadliest we have ever seen along the frontier.”

“The clashes have taken place from Chitral to Balochistan,” he said. “They erupted after alleged Pakistani strikes on TTP targets inside Afghanistan last week, but the Taliban’s direct attacks on Pakistani positions mark a new phase.”

Khan concurred with Haq that fighting could backfire on the Taliban leadership.

“Continued fighting could embolden opposition groups like the National Resistance Front, while external powers such as China or Middle Eastern states might step in to defuse tensions,” he said.

Asked about how Pakistan would proceed after the ceasefire, he said Islamabad’s “patience has run out.”

“Pakistan now expects Kabul to address its security concerns just as it has done for China, the US, and other countries.”


Pakistan captain urges consistency after win over South Africa in Lahore test

Pakistan captain urges consistency after win over South Africa in Lahore test
Updated 15 October 2025

Pakistan captain urges consistency after win over South Africa in Lahore test

Pakistan captain urges consistency after win over South Africa in Lahore test
  • Skipper Shan Masood says team must build on opening test victory to perform more consistently against top sides
  • Coach Azhar Mahmood criticizes poor shot selection after Pakistan lost 11 wickets for 37 runs across two innings

LAHORE: Pakistan captain Shan Masood wants his team to seize the momentum and show more consistency after they beat South Africa on Wednesday in the first of their two-test series.

Pakistan wrapped up a 93-run win over South Africa on the fourth day, making the most of the pitch conditions to ensure victory.

But it follows 12 months of indifferent test results for Pakistan, who came from behind to beat England 2-1 in a home series this time last year, then lost 2-0 in South Africa before a 1-1 home draw with the West Indies.

“We are playing good cricket against quality opposition but at the same time, the challenge is that we need to consistently perform and win matches against top teams,” he told a press conference.

“There were a lot of challenges out in the middle. Credit to South Africa, they kept coming back, but we built enough margins to have the upper hand, and I’m glad we finished it off,” he added.

Pakistan will now be looking to complete a 2-0 series win and make a positive start to a new cycle of the World Test Championship, which South Africa won in June.

The second test starts in Rawalpindi on Monday.

“The spinners came into play, reverse swing helped the bowlers do their job today, and the batters did well enough, but we still have a lot of challenges in the middle order,” said Shan.

“We lost 11 wickets for 37 runs over the course of two innings, which is not good. We must overcome that,” he said of dramatic collapses in both innings when Pakistan were well set.

In their first innings of 378, they lost their last five wickets for 16 runs, while in the second innings, they lost their last six wickets for a paltry 17 runs and were dismissed for 167.

It drew the ire of coach Azhar Mahmood.

“Our shot selection was not good,” he told reporters.

“This is something we need to improve. If we’re going to play on these pitches, we have to have the patience to bat on them.”
The pitch took a sharp turn and offered low bounce, especially from day two onward, and conditions in Rawalpindi are expected to be similar. 


Pakistan’s finance chief says economic liberalization, structural reforms to trigger ‘East Asia moment’

Pakistan’s finance chief says economic liberalization, structural reforms to trigger ‘East Asia moment’
Updated 15 October 2025

Pakistan’s finance chief says economic liberalization, structural reforms to trigger ‘East Asia moment’

Pakistan’s finance chief says economic liberalization, structural reforms to trigger ‘East Asia moment’
  • Aurangzeb says Pakistan cannot keep shielding protected industries and must build competitiveness to boost exports
  • Finance minister cites progress in taxation, energy, privatization and public finance reforms under IMF-backed program

KARACHI: Federal Minister for Finance and Revenue Muhammad Aurangzeb on Wednesday highlighted Pakistan’s policy of trade and economic liberalization during an interview with an American news channel, saying that combined with the ongoing reform momentum, these policies could generate an “East Asia moment.”

Aurangzeb, currently in Washington D.C. to attend the World Bank and International Monetary Fund annual meetings, spoke to CNBC about Pakistan’s improving macroeconomic indicators and the government’s focus on structural transformation to sustain growth and stability.

Speaking about the overall global trade dynamics, the finance minister said Pakistan’s economic focus was shifting away from protectionism.

“We cannot continue to shield industries which have received protection for the longest time,” he said, adding that if Pakistan has to grow, “it has to have industries which are competitive and which can export.”

He noted that macroeconomic stability and structural reforms must go hand in hand, citing progress in taxation, energy, privatization of state-owned enterprises and public finance management as integral to the government’s reform agenda.

Pakistan began implementing stringent economic reforms after finding itself on the verge of default in mid-2023.

The country’s performance has also been recognized by all three major global rating agencies, which have upgraded Pakistan’s outlook in recent months, a validation of what Aurangzeb described as the country’s improving “economic trajectory and reform agenda.”

“We feel this can be an ‘East Asia moment’ for Pakistan in terms of liberalizing the economy,” he said, drawing a broader perspective on the country’s reform path.

He also acknowledged the strong partnership with the United States and commended the World Bank Group for supporting Pakistan’s reform efforts, reaffirming the government’s commitment to sustaining implementation and positioning the country on a “sustainable, outward-looking growth path.”


Pakistan to host Saudi performers for the first time at World Culture Festival in Karachi

Pakistan to host Saudi performers for the first time at World Culture Festival in Karachi
Updated 15 October 2025

Pakistan to host Saudi performers for the first time at World Culture Festival in Karachi

Pakistan to host Saudi performers for the first time at World Culture Festival in Karachi
  • ‘Biggest festival in the world’ to run from Oct. 31 to Dec. 7, featuring artists from 141 countries
  • Israeli filmmakers also approached the Arts Council of Pakistan to participate in the festival

KARACHI: Cultural groups from will participate for the first time in the World Culture Festival hosted by Pakistan from Oct. 31 to Dec. 7, the president of the Arts Council of Pakistan said on Wednesday, adding that it would be “the biggest festival in the world.”

The event, which will be held in Karachi, will host performers from 141 countries, including 37 from Africa, 41 from Asia, 36 from Europe, 13 from North America, 11 from South America and three from Oceania.

The seven-week festival will feature 45 theater productions, 60 music performances, 25 dance shows, six exhibitions, 25 workshops and 15 talks, with 25 international and 30 national artists taking part.

“This year, cultural groups from across the Middle East are participating in the World Culture Festival,” the council’s president, Muhammad Ahmed Shah, told Arab News. “We are grateful to Crown Prince Mohammed bin Salman for his remarkable efforts in promoting art and culture in .”

“In the future, we look forward to strengthening cultural collaboration with the Kingdom,” he added.

Shah said during a news conference that the festival aimed to promote peace and intercultural understanding, noting that artists from conflict-affected regions will also be represented.

“When people from around the world come here, they will see how peaceful we are,” he said.

Highlighting the response the festival has received, he said that the council had received more than 2,800 films, adding that this is a number unmatched by any other festival in the world.

Shah mentioned that the council was even approached by filmmakers in India and Israel.

Pakistan has tense relations with India after an intense, four-day military conflict between the two South Asian nuclear-armed neighbors.

Pakistan also does not recognize Israel and has always called for an independent state of Palestine with pre-1967 borders and East Jerusalem as its capital.

Shah also praised the Sindh administration for supporting the event, saying the festival will feature Pakistani films alongside international entries.