News from November 15, 2025

447 articles found

Urban development: Multiple major projects under way in Karachi: Sharjeel
Jordan King due today
The coming water reckoning
World

The coming water reckoning

EDITORIAL: Pakistan, one of the world’s most water-stressed countries, faces an intensifying crisis that is both environmental and geopolitical in nature. The first edition of the World Bank’s Global Water Monitoring Report titled “Continental Drying: A Threat to Our Common Future” paints a troubling picture of how unsustainable water use, climate change, and regional politics are converging to exacerbate this country’s growing water vulnerability. According to the report, Pakistan is among six nations with the highest levels of inefficient agricultural water use amid increasingly arid conditions. The agricultural sector — which consumes over 90 percent of our freshwater resources — remains dominated by water-intensive crops, such as rice and sugarcane. Alarmingly, rice cultivation has expanded into the semi-arid zones of southern Punjab, a practice that is accelerating groundwater depletion. The report notes that two-thirds of inefficient irrigation in drying areas is linked to the cultivation of such water-hungry crops, highlighting a critical mismatch between Pakistan’s agricultural choices and its hydrological reality. However, the water challenge is not solely the result of domestic inefficiencies. It is being compounded by India’s weaponisation of transboundary river waters. Under the Indus Waters Treaty (IWT) of 1960, the waters of the western rivers — Indus, Jhelum, and Chenab — were allocated to Pakistan, while India retained rights over the eastern rivers. Yet, India has not only intensified the construction of upstream dams and hydroelectric projects on our rivers, but during the recent months its senior leaders, including Prime Minister Narendra Modi, have openly been threatening to divert and block water flows into Pakistan, vowing that “not a drop of water from the Indus River will be allowed to reach Pakistan”. Such rhetoric fundamentally undermines the spirit of the IWT that has served as a cornerstone of South Asian water diplomacy for over six decades. The combination of internal mismanagement, inefficient irrigation, and external threats poses a grave risk to our economy, food security, and overall well-being. The World Bank’s report further reveals that the planet is losing 324 billion cubic meters of freshwater annually, largely due to droughts, deforestation, and poor water management. For Pakistan, where per capita water availability has fallen below the scarcity threshold of 1,000 cubic meters, these global losses only amplify local vulnerabilities. This situation demands urgent reform. Our policymakers must overhaul water governance framework, promote efficient irrigation technologies, shift toward smarter and less water-intensive crop patterns, invest in large-scale reforestation, and strengthen groundwater regulation. In essence, Pakistan’s water crisis is not merely an environmental issue; it is a national challenge, intertwined with weak agricultural policy and volatile regional politics. The World Bank’s findings are a stark reminder that water could become a trigger for conflict unless managed with foresight, equity, and resilience. Copyright Business Recorder, 2025

Ownership, trademark rights of Basmati rice: New Zealand High Court rejects India’s plea
Business

Ownership, trademark rights of Basmati rice: New Zealand High Court rejects India’s plea

KARACHI: In a major boost for the rice export sector, Pakistan has secured a significant legal victory over India, which lost the case in the New Zealand High Court concerning the ownership and trademark rights of Basmati rice. Industry sources said that the New Zealand High Court has also dismissed an appeal filed by the Agricultural and Processed Food Products Export Development Authority (APEDA) against the rejection of its application for a certification trade mark for Indian basmati. The Indian food export authority attempted to register Basmati as a certification mark in New Zealand, which would have restricted the sale of Basmati rice in New Zealand exclusively to Indian-grown rice. Flood-hit Pakistan, India face rising basmati prices amid crop losses Six years back, in February 2019, APEDA approached the Intellectual Property Office of New Zealand (IPONZ) for certification mark protection for basmati Rice solely to India. However, this application was rejected by the IPONZ in July 2024. Following the rejection, Indian Authority appealed to the High Court of New Zealand for the ownership and trademark rights of Basmati rice. Now, the High Court of New Zealand has now upheld the IPONZ decision, ruling that New Zealand consumers do not exclusively associate Basmati with Indian rice. The New Zealand High Court has upheld the IPONZ ruling, observing that the Basmati Growing Area covers regions in both Pakistan and India. The court said giving India exclusive certification would place Pakistani basmati producers at an unfair disadvantage and limit their ability to sell in the New Zealand market. Instead, New Zealanders view Basmati as a descriptor of a particular type of rice rather than a geographical indicator tied solely to India. Granting APEDA exclusive rights would have unfairly excluded Pakistani producers from the New Zealand market. Rafique Suleman, former chairman of the Rice Exporters Association of Pakistan (REAP) and a senior member of the Businessmen Panel (BMP) at the FPCCI, welcomed the ruling and said the New Zealand High Court decided the matter on merit. He said India has repeatedly tried to mislead international markets on basmati rice, but Pakistan’s position has now been reaffirmed. This is a significant achievement for the Government of Pakistan and the Ministry of Commerce. The Geographical Indications (GI) Cell of the Commerce Ministry continues to actively contest Basmati-related GI matters in both Australia and New Zealand, he added. He said that the Court Order repeatedly recognises Pakistan as a legitimate grower of Basmati rice and this acknowledgment will further strengthen Pakistan’s position in other international jurisdictions where APEDA has filed similar claims and Pakistan is defending the matter. Copyright Business Recorder, 2025

NA told: Public debt skyrockets by Rs9.3trn in FY25
World

NA told: Public debt skyrockets by Rs9.3trn in FY25

ISLAMABAD: The National Assembly was informed on Friday that the country’s public debt surged by an alarming Rs9.3 trillion during the 2024-25 fiscal year, equating to a daily increase of Rs25.4 billion – an unsettling figure that questions fiscal oversight. In a written response to questions raised by lawmakers, Finance Minister Muhammad Aurangzeb confirmed that the public debt had risen by Rs9.3 trillion to Rs80.5 trillion by June 2025, equating to a daily increase of Rs25.4 billion. However, the minister clarified that under the Fiscal Responsibility and Debt Limitation Act (FRDLA) of 2005, which offers a narrower definition of public debt, the increase was Rs8.2 trillion, or Rs22.3 billion per day. Debt burden reaches alarming levels: Every Pakistani now owes Rs318,252 As a result, Pakistan’s public debt-to-GDP ratio climbed to 70.8% in FY25, up from 67.8% in FY24. Under the FRDLA definition, the ratio stood at 64.4%. The minister outlined a series of fiscal consolidation measures the government has introduced in an effort to manage the mounting debt burden. These measures include generating primary surpluses for two consecutive fiscal years to reduce deficit financing, shifting the borrowing strategy towards longer-term securities to mitigate refinancing risks, and conducting Pakistan’s first-ever sovereign debt buybacks. In FY25, the government bought back Rs1.5 trillion in debt, with another Rs1.1 trillion buyback scheduled for FY26. Aurangzeb also revealed that the government had successfully extended the average maturity of domestic debt from 2.8 years to 3.8 years, delivering interest expense savings of over Rs880 billion in FY25. Meanwhile, Minister for Planning, Development, and Special Initiatives, Ahsan Iqbal confirmed that eight China-Pakistan Economic Corridor (CPEC) projects, valued at around USD759.56 million, are currently under implementation. He added that, to date, 43 CPEC projects, with a total value of USD24.7 billion, have been completed. He also provided details on the ongoing implementation of five Public Sector Development Programme (PSDP) projects related to foreign scholarships, with a total cost of Rs54.7 billion, including Rs52.4 billion in foreign exchange components. The government has allocated Rs5.5 billion for these initiatives in the current fiscal year. Earlier, Minister of State for Finance Bilal Azhar Kayani highlighted the government’s focus on export-led growth, stressing that achieving macroeconomic stability was a prerequisite for sustainable economic development. He also pointed to the government’s efforts to enhance the tax base, including a reduction in tax rates for the salaried class in FY25. Copyright Business Recorder, 2025

Weekly SPI inflation up 0.53pc
Technology

Weekly SPI inflation up 0.53pc

ISLAMABAD: The Sensitive Price Index-based inflation showed an upward trend with an increase of 0.53 percent for the week ending November 13, 2025. The uptick is mainly driven by double-digit increases in the prices of chicken and vegetable oil. A major increase was observed in the prices of chicken (20.33 percent), tomatoes (12.03 percent), bananas (2.32 percent), LPG (1.97 percent), potatoes (1.08 percent), cooking oil 5 litres (0.38 percent), shirting (0.36 percent), pulse masoor (0.33 percent), firewood and beef (0.26 percent each), and mutton (0.07 percent). On the other hand, significant decreases were recorded in the prices of onions (6.65 percent), pulse gram (2.61 percent), salt powder (1.80 percent), gur (1.78 percent), sugar (1.07 percent), wheat flour (0.69 percent), pulse mash (0.66 percent), and pulse moong (0.27 percent). Weekly SPI inflation down 0.59pc During the week, out of 51 items, the prices of 15 items (29.41 percent) increased, 12 items (23.53 percent) decreased, and 24 items (47.06 percent) remained stable. The year-on-year trend shows an overall increase of 4.15 percent. Significant increases were recorded in the prices of ladies’ sandals (55.62 percent), sugar (40.25 percent), gas charges for Q1 (29.85 percent), wheat flour (18.70 percent), gur (16.47 percent), beef (14.29 percent), firewood (12.23 percent), bananas (11.71 percent), vegetable ghee 2.5 kg (10.93 percent), diesel (9.29 percent), cooking oil 5 litres (8.43 percent), and mutton (8.16 percent). Meanwhile, decreases were noted in the prices of garlic (36.29 percent), pulse gram (29.89 percent), electricity charges for Q1 (26.26 percent), tomatoes (23.01 percent), potatoes (22.46 percent), Lipton tea (17.79 percent), pulse mash (15.35 percent), LPG (11.00 percent), pulse masoor (5.40 percent), and IRRI-6/9 rice (3.02 percent). Copyright Business Recorder, 2025

Opposition alliance rejects 26th & 27th amendments
Politics

Opposition alliance rejects 26th & 27th amendments

ISLAMABAD: Tehreek-e-Tahaffuz-e-Aain-e-Pakistan (TTAP), an alliance of opposition parties, on Friday sharply rejected the 26th and 27th Constitutional Amendments, denouncing the revisions as an attack on the judiciary and a serious threat to the integrity of the country’s constitution. At a tense meeting following the passage of the 27th Amendment – now law after receiving presidential assent – TTAP leaders, led by Mahmood Khan Achakzai, launched a scathing critique of the amendments. They accused the government of undermining judicial independence and destabilizing the country’s democratic framework. NA in chaos as opposition assails 27th Amendment Bill “These amendments are not about reforming the law; they are about consolidating power,” Achakzai said. “They weaken the constitution, dismantle democratic principles, and turn the judiciary into a mere instrument of the executive.” The opposition alliance, which includes several major political parties, condemned the amendments as a “constitutional robbery” aimed at diminishing the authority of the Supreme Court and rendering it powerless. “This is not reform; it is destruction,” a TTAP statement read. “These amendments violate the very core of our constitution and threaten the balance of power in our democracy.” The government’s push for the amendments has sparked widespread condemnation, with TTAP insisting that the changes are not aimed at strengthening democratic institutions, but at consolidating executive control. The opposition alleges that the amendments deliberately subordinate the judiciary, sidelining the country’s highest court in the face of growing executive dominance. A focal point of the opposition’s anger has been the resignation of two senior Supreme Court justices, Mansoor Ali Shah and Athar Minallah. Both have emerged as symbols of resistance against what they perceive as the erosion of judicial independence. TTAP leaders have praised their stance, calling it a stand against “constitutional plunder.” Achakzai vowed that the opposition would resist the amendments using all democratic means at its disposal. “We will not back down,” he declared. “We will fight this assault on our constitution with everything we have. The people will rise, and so will we.” In response, TTAP announced a series of protests beginning Monday. Members of the National Assembly (MNAs) and senators will march from Parliament to the Supreme Court in Islamabad, while provincial assemblies in Khyber Pakhtunkhwa and Punjab will hold similar demonstrations. Lawyers’ groups in Lahore will also hold a major protest outside the Lahore High Court (LHC). The TTAP also declared next Friday a “Black Day,” urging supporters to take to the streets nationwide to oppose the amendments and demand the restoration of the constitution in its original form. Additionally, TTAP intensified its calls for the immediate release of imprisoned Pakistan Tehreek-e-Insaf (PTI) leaders, including former prime minister Imran Khan, his wife Bushra Bibi, and other political figures currently detained. In a final act of defiance, TTAP expressed strong support for the Khyber Pakhtunkhwa Peace Jirga’s resolution, calling for its swift implementation. Prominent opposition leaders, including PTI’s Asad Qaiser, Barrister Gohar Khan, and Akhtar Mengal of the Balochistan National Party-Mengal (BNP-M), attended the meeting and pledged their full support to the movement, reaffirming their commitment to restoring the constitution. Copyright Business Recorder, 2025

Cabinet directs PD to complete PHL winding up process
Business

Cabinet directs PD to complete PHL winding up process

ISLAMABAD: The federal cabinet has directed the Power Division to complete all necessary formalities leading to the winding up of the Power Holding Limited (PHL) and submit an attendant timeline to the Economic Coordination Committee (ECC), sources told Business Recorder. These directions were issued by the ECC on November 7 while approving the issuance of the GoP guarantee amounting to Rs 659.6 billion for circular debt financing totaling Rs 1.225 trillion, which has been ratified by the Cabinet on November 12, 2025. The PHL is under the administrative control of the Ministry of Energy (Power Division) and is wholly owned by the Government of Pakistan. The company was established to reduce power sector liabilities through borrowings from financial institutions. The PHL is a not-for-profit entity registered under the Companies Ordinance, 1984. Power Holding Ltd approves early redemption of Rs400bn Pakistan Energy Sukuk The company was being used to borrow from banks on behalf of the power Distribution Companies (DISCOs) and pay interest to the banks on loans. Sharing the details, sources said, the Federal Cabinet approved an Indicative Term Sheet for CD Financing on June 18, 2025, for the settlement of the PHL debt and overdue payments to Independent Power Producers (IPPs). The Central Power Purchasing Agency-Guarantee (CPPA-G) is a Public sector entity and is responsible for arranging fresh facilities up to Rs 1.225 trillion. The financing and security agreements for circular debt financing amounting to Rs. 1.225 trillion were executed on October 3, 2025, between CPPA-G and various financial institutions. In terms of the Federal Cabinet’s approval and executed Financing Agreements, the first demand, irrevocable, unconditional and continuing Government of Pakistan’s Guarantee amounting to Rs. 659.646 billion (Guaranteed Principal Amount) is required to be issued by the Finance Division on behalf of the Government of Pakistan. The Guarantee shall replace the following earlier guarantees issued by the GoP in favor of the PHL loan of the same amount and will not affect any debt limitation of the GoP. Under the terms of the executed Financing Agreements, a Letter of Comfort was required to be initiated by the Finance Division upon the approval of the ECC. Security Agent (HBL) will accept Letter of Comfort as satisfactory compliance with the condition precedent to the first drawdown of the CD Financing. However, the Finance Division has been requested to issue the GoP Guarantee within 30 days of the first drawdown of the CD Financing. The Power Division, in its summary, had sought approval of the Government on the following proposals; (i) issuance of GoP guarantee amounting to Rs. 659.646 billion guaranteed principal amount by the Government of Pakistan; (ii) authorization to Finance Division to issue letter of comfort on an immediate basis; and (iii) authorization to Finance Division to issue GoP guarantee within 30 days of first drawdown under the executed Financing Agreements. According to sources, the proposal regarding winding up of the PHL came from the Finance Division, which was duly endorsed by the ECC and the federal cabinet. Copyright Business Recorder, 2025

Third-party validation of subsidised tubewells: PD and QESCO at loggerheads over funds
Business

Third-party validation of subsidised tubewells: PD and QESCO at loggerheads over funds

ISLAMABAD: The Power Division and the Quetta Electric Supply Company (QESCO) are said to be at loggerheads over the release of funds for third-party validation of subsidized agricultural tubewells, as the distribution company has flagged several discrepancies in the consultant’s report. On October 28, 2025, the Power Division directed all DISCOs to release funds to ICore Business Solutions. In response, QESCO has submitted that, under Clause VI of the Memorandum of Understanding (MoU) signed between the Government of Pakistan (GoP) and the Government of Balochistan (GoB) regarding the solarization of agricultural tube wells (ATWs) in Balochistan, the GoB is responsible for engaging a consulting firm—upon clearance from the Steering Committee—for third-party verification of solarisation, grid disconnection, documentation and undertakings, and removal of transformers and fixtures by QESCO for each batch of feeders. The MoU further states that the cost of this service will be borne by the GoP and GoB in the agreed ratio, and that work on a subsequent batch may begin only after the third-party verification report confirms compliance for the preceding one. Poor performance of 3 Discos earns PD’s ire The GoB is also required to present the verification report for each batch before the Steering Committee during its monthly meeting or upon completion of that batch, whichever occurs first. Following this agreement, the GoB engaged ICore Business Solutions, which later shared three provisional field verification reports—Release-1, Release-2, and Release-3—with QESCO. However, sources claim that QESCO was neither consulted nor taken on board by ICore Business Solutions during the verification process. They contend that, contrary to the MoU’s requirements, the GoB has not presented verification reports for each feeder batch before the Steering Committee. Field checks by QESCO also revealed that the third party visited only a limited number of locations in Quetta and Pishin. Furthermore, QESCO identified several discrepancies in the three provisional reports (D1, D2, and D3). These concerns have been formally conveyed to ICore Business Solutions, with copies also forwarded to the Energy Department of the Government of Balochistan. QESCO maintains that it has still not received the complete and final third-party validation report. Copyright Business Recorder, 2025

Talks with terror groups ruled out: Trade, transit only possible if Kabul takes ‘clear steps’: FO
Politics

Talks with terror groups ruled out: Trade, transit only possible if Kabul takes ‘clear steps’: FO

ISLAMABAD: Pakistan said on Friday that normal trade and transit with Afghanistan are only possible if the Afghan Taliban regime takes clear steps against “anti-Pakistan elements” operating from its soil. Islamabad also ruled out talks with any terrorist group, including the Tehreek-e-Taliban Pakistan (TTP), targeting Pakistan’s civilians and security forces. At the weekly media briefing on Friday, the Foreign Office spokesperson Tahir Andrabi said that the “value of human lives surpasses the value of any trade” with Afghanistan. He said that Pakistan is ready to receive any Pakistani living in Afghanistan and their families, provided they are handed over at the border crossings of Torkham or Chaman. He said that Pakistan will take up the involvement of Afghan national in the Islamabad suicide bombing with the Afghan Taliban regime. He said, “We will be taking all the necessary measures to protect our people.” He said that there is a “strong lobby (within the Afghan Taliban) with monetary support from foreign actors” that has been tasked to stoke “tensions” with Pakistan. Afghan nationals carried out two suicide bombings in Pakistan: interior minister He said that Pakistan took a very strong exception to the remarks by the spokesperson of the Indian Ministry of External Affairs attempting to link President Trump’s comment on nuclear testing with allegations about Pakistan’s past nuclear record. He said that Pakistan’s nuclear program operates under a robust command and control structure, comprehensive export controls, and an impeccable record of compliance with the global non-proliferation regimes. “Allegations of clandestine or illegal nuclear activities are baseless, malicious, and part of India’s disinformation campaign aimed at diverting attention from its own irresponsible conduct,” he said. He said that Pakistan and the United States share multifaceted cooperation in strategic defense, economy, trade and commerce, and social sector. The effort of the governments is to enhance this all-encompassing cooperation across all domains. When asked about the recent blast in New Delhi, he said that India wrongly linked it to just struggle in Indian occupied Kashmir and Pakistan. India is, indeed, much obsessed with Pakistan on the issue and the bogey of terrorism which the Indian leadership uses to divert attention from its own internal challenges. Responding to a question about the purported meeting of adviser to Prime Minister with an Israeli official, the spokesperson said that he had not seen any report on this development. He; however, he said that it is not fair to link this (purported development) with the broader issue of Abraham Accords or the recognition of Israel. “Such linkage is too far-fetched, and I would request our distinguished media personnel to not venture into such speculation,” he said. He said that no decision has been taken as yet on Pakistan’s participation in International Stabilisation Force that is going to be deployed in Gaza. He rejected the assertions of spokesperson of Indian Ministry of External Affairs, linking Pakistan with terrorism. He said India is clearly habitual of such diversionary tactics aimed at concealing the subversive activities within the region and beyond. India’s track record of sponsoring terrorism and violence in Pakistan is well documented and internationally recognized. India’s extremist mindset funds regional instability promotes hatred and undermines peace across South Asia. Copyright Business Recorder, 2025

Private property rentals for govt: FD chides ministries, divisions for breaching rules
Business

Private property rentals for govt: FD chides ministries, divisions for breaching rules

ISLAMABAD: The Finance Division has reprimanded federal ministries and Divisions for repeatedly violating official rules while renting private properties for government offices. It has issued a warning that no ex-post facto approvals will be entertained in future. In a sharply-worded office memorandum, the Finance Division highlighted that several organizations have been bypassing established procedures and submitting hiring cases only after audit objections, despite clear instructions issued as far back as October 2001. The Division noted that it had discovered instances where ministries entered into lease agreements with private parties at rental rates exceeding those allowed by the Ministry of Housing & Works — without obtaining the mandatory prior approval from the Finance Division’s Regulation Wing. Govt employees: Housing rent allowance to go up by 85pc The memorandum stated: “It has been observed that ministries/Divisions/departments/organizations are not adhering to these instructions in letter and spirit. Instances have come to the notice of the Finance Division where certain cases, involving requests for ex-post-facto approval, have been forwarded after audit objections, in clear violation of the Finance Division’s instructions issued in the aforementioned memorandum.” Ministries, divisions, and departments are, therefore, once again urged to strictly follow the procedures for hiring office accommodation and refrain from entering into any lease agreement with a private party involving rental rates higher than those permissible and issued by the Ministry of Housing & Works. Prior approval from the Finance Division’s Regulation Wing must be obtained. In the future, no ex-post facto approval will be granted by the Finance Division for such lease agreements. Furthermore, cases involving initial hiring or subsequent rent increases beyond the prescribed limits must be forwarded to the Finance Division’s Regulation Wing with the approval of the Secretary in charge of the concerned Ministry or Division. These cases must also be supported by the prescribed documents and follow the correct procedures. It should also be noted that, in future incomplete proposals missing any one of the required documents – ie, (i) Consent of owner, (ii) Statement of space entitlement, (iii) Detail of sanctioned strength of officers/officials duly approved by Ministry of Housing & Works, (iv) Hiring particulars on the Standard Format duly signed by Grade-20 officer or equivalent with complete entries, (v) Authentic copy of the map of the premises in question, (vi) Copies of previous lease agreement in cases of enhancement, (vii) Self contained note along with specific recommendations of concerned JS-Exp, will not be entertained and will be returned at initial stage without examination.” Copyright Business Recorder, 2025

Vanishing air quality data
Politics

Vanishing air quality data

EDITORIAL: The Environment Protection and Climate Change Department (EPCCD) of Punjab has found itself at the centre of a fresh controversy after admitting that “due to a technical issue, AQI monitoring at some stations had been interrupted.” The department, in a post on X, assured citizens that a team was working to restore the data and that the missing information would be available soon. But this admission came only after a storm of criticism erupted on social media, sparked by climate activists who accused the department of turning off air quality monitors at a time when Lahore’s pollution levels had soared to hazardous highs. Screenshots shared by one prominent activist showed that several monitoring stations listed on the government’s official website — aqipunjab.com — had not updated their readings for hours, with some still displaying data from many days earlier. The activist claimed that the EPCCD had deliberately shut down several monitors in Lahore, while the ones left running were reading “beyond index” — a term used when pollution levels are so severe that they exceed the equipment’s measuring capacity. Another user went further, suggesting a “strategic motive” behind the alleged shutdowns. In a sharply worded post, he wrote, “Punjab government’s new air quality strategy: if pollution levels look bad, just turn off the monitors. Eight out of ten monitors are shut beyond 10 p.m. in Lahore (when air quality dips further) to lower the average.” He tagged Punjab’s Senior Minister Marriyum Aurangzeb, urging her to ensure uninterrupted monitoring, noting that millions of rupees have already been spent on the air quality infrastructure. The outrage is understandable. Lahore’s Air Quality Index (AQI) reportedly reached a hazardous 517 between 8 and 9 a.m. recently — a level at which simply breathing outdoors poses serious health risks to everyone. In such a situation, any perceived suppression or mishandling of environmental data becomes more than a technical issue; it becomes a matter of public trust and accountability. If the problem was indeed technical, the department should have been transparent from the outset. Timely and proactive communication can prevent misinformation and maintain credibility. But when officials remain silent until forced to respond, speculation fills the vacuum eroding trust in public institutions. In recent years, Punjab has invested heavily in air monitoring infrastructure as part of a broader shift towards data-driven environmental policy. That investment must be matched with transparency, reliability, and the political will to confront pollution honestly, rather than manage its optics. As smog season grips Lahore and other urban centres across the province, one thing is clear: fixing broken monitors will not be enough. What truly needs restoration is public confidence — the assurance that the government will face environmental reality, however unpleasant, with honesty, consistency, and an urgent science-based mitigation strategy. Copyright Business Recorder, 2025

Digitalisation, AI and climate financing: SBP governor asks banks to chart future course
Technology

Digitalisation, AI and climate financing: SBP governor asks banks to chart future course

KARACHI: Governor of the State Bank of Pakistan Jameel Ahmad has urged banks to chart a forward-looking strategy focused on digitalisation, Artificial Intelligence (AI), climate financing, and export facilitation. Addressing the 10th Pakistan Banking Awards ceremony was held in Karachi, he emphasized embedding digital tools across operations, leveraging AI for smarter risk management and tailored financial products, integrating climate risk into lending, and realigning business models to support Pakistan’s exporters. Jameel Ahmad, graced the event as chief guest and presented the prestigious Best Bank Award to Meezan Bank, recognizing their outstanding performance and commitment to excellence. Public-private collaboration vital for digital economy: SBP Governor In his address, Governor SBP observed the important role of these awards in helping raise the standard of banking in the country. In this context, he offered a blueprint for the needed transformation of the banking system for the next decade, driven by innovation, inclusion and responsibility. He observed that this transformation would not be possible unless banks reorient their business models towards serving the financial needs of the private sector, especially SMEs and small depositors. “Banks that continue to rely on easy returns from lending to the government will eventually be left behind by institutions that are mobilizing deposits and meeting the growing credit needs of the underserved segments,” he said. For the way forward, Governor SBP encouraged banks to focus on four main areas. First, banks should embed digitalization into everyday digital experiences of their customers and their own business operations, including mobile commerce, agriculture supply chains, credit scoring, and risk management. Second, banks should put in place artificial intelligence and machine learning tools to build smarter risk models incorporating alternative information furnished by AI; and design tailor-made financial products for small firms, start-ups, and entrepreneurs who may lack conventional documentation. Third, there is a need to integrate climate risk into banks’ credit decisions; set clear sustainability targets; and develop green bonds and sustainability-linked loans for climate financing. And finally, banks should reassess their priorities and strategically realign their business model to better facilitate and strengthen Pakistan’s exporters. The 10th Pakistan Banking Awards ceremony was organized by the National Institute of Banking and Finance (NIBAF) Pakistan, in collaboration with DAWN Media and A.F. Ferguson & Co. Governor SBP commended the three partners and the Pakistan Banking Awards for promoting excellence, innovation, and integrity in the financial sector consistently for 10 years. The Best Bank for Women Inclusion went to The Bank of Punjab; Best Microfinance Institution Award went to Kashf Foundation; the Award for Best Bank for SMEs went to The Bank of Punjab; while The Bank of Punjab was declared the Best Bank for Agriculture Inclusion. In addition, Bank Alfalah received the Best Bank for Digital Excellence; Bank Alfalah bagged the award for Best Bank for Customer Engagement, Faysal Bank won the award for Best Mid-sized Bank. The HBL was declared best bank for ESG. Copyright Business Recorder, 2025

Trump cuts tariffs on beef, tomatoes and other food products as grocery inflation climbs
World

Trump cuts tariffs on beef, tomatoes and other food products as grocery inflation climbs

U.S. President Donald Trump on Friday rolled back tariffs on dozens of food products, including such staples as beef, tomatoes and bananas, in the face of growing angst among American consumers about the high cost of groceries. The new exemptions - which take effect retroactively at midnight on Thursday - mark a sharp reversal for Trump, who has long insisted that the sweeping import duties he imposed earlier this year are not fueling inflation. Democrats have won a string of victories in state and local elections in Virginia, New Jersey and New York City, where affordability was a key topic. The Trump administration announced framework trade deals on Thursday that, once finalized, will eliminate tariffs on certain foods and other imports from Argentina, Ecuador, Guatemala and El Salvador, with U.S. officials eyeing additional agreements before year's end. Everyday food items have seen sharp price hikes Friday's list includes products U.S. consumers routinely purchase to feed their families at home, many of which have seen double-digit year-over-year price increases. ALSO READUS plans to cut tariffs to ease food prices — here’s what could get cheaper Ground beef, as of the latest available data for September, was nearly 13% more expensive, according to Consumer Price Index data, and steaks cost almost 17% more than a year ago. Increases for both were the largest in more than three years, dating back to when inflation was nearing its peak under Trump's predecessor, Democrat Joe Biden. Banana prices were about 7% higher, while tomatoes were 1% higher. Overall costs for food consumed at home were up 2.7% in September. Imports face a uniform 10% base tariff under Trump Trump has upended the global trading system by imposing a 10% base tariff on imports from every country, plus additional specific duties that vary from state to state. ALSO READUS to scrap tariffs on select imports from Ecuador, Argentina, Guatemala and El Salvador Trump has focused squarely on the issue of affordability in recent weeks, while insisting that any higher costs were triggered by policies enacted by Biden, and not his own tariff policies. Consumers have remained frustrated over high grocery prices, which economists say have been fueled in part by import tariffs and could rise further next year as companies start passing on the full brunt of the import duties. The top Democrat on the House of Representatives Ways and Means Committee, Richard Neal, said the Trump administration was "putting out a fire that they started and claiming it as progress." "The Trump Administration is finally admitting publicly what we've all known from the start: Trump's Trade War is hiking costs on people," Neal said in a statement. "Since implementing these tariffs, inflation has increased and manufacturing has contracted month after month."

Drivers 'face £1,000 fine' if they don't clear second area after windscreen
Technology

Drivers 'face £1,000 fine' if they don't clear second area after windscreen

Following reports that the government is planning to tackle the issue of dazzling LED headlights, one industry expert has not only backed the advice to keep windscreens clean but also urged drivers to clear another area. Drivers could face a hefty £1,000 fine if their view is obstructed. James MacBeth, managing director of Auto Windscreens, said: "I wholeheartedly agree that keeping your windscreen clean is a very important way to minimise the glare from brighter headlights. Evenings are already darker and weather generally worsens in the autumn and winter months, with falling leaves and spray making it harder to see. "Ahead of Road Safety Week (November 16 to 22), we're calling for all drivers to 'clear the dashboard' as well as their windscreens. Stickers, chips or cracks on the glass, or items placed on dashboards like parking tickets, cups, toys and newspapers, as well as those dangling air fresheners or fluffy dice can obscure a driver's view. Not only is this dangerous, it's also a road traffic offence. "Just to make everyone aware, according to the Highway Code, 'failure to have... full view of the road and traffic ahead' can result in a £1,000 fine for car drivers and three penalty points. "It's just not worth the risk. Drivers should keep their windscreens clean and clear, check them regularly for any damage and get it fixed, as well as remove any items on or near the dashboard that could obscure their view."

Faridabad-Seized Explosives Blow Up At Nowgam Police Station; 7 Dead, 29 Injured
Sports

Faridabad-Seized Explosives Blow Up At Nowgam Police Station; 7 Dead, 29 Injured

A batch of explosives seized from Faridabad blew up during sampling at the Nowgam police station late Friday night. As per sources, seven people including an officer died in the blast. Twenty nine others were left injured. Sources said that a police officer, FSL team members and a magistrate were among the injured. Videos of the explosion showed what seemed like a parking lot up in flames. Several vehicles could be seen completely gutted in the fire. The force of the blast was felt miles away, shaking homes and causing their windows to fling open and snap shut instantly. The incident comes days after the Delhi Red Fort car blast, in which 13 people were killed and over 30 injured after over 90-kgs of explosives blew up in a Hyundai i20. The car was being driven by Dr Umar Un Nabi, the mastermind of the blast, and a key member of a JeM terror module operating from Faridabad. Faridabad's Al Falah University is at the centre of the terror probe after many of its staff were found to have links with this JeM terror module. These included Dr Muzammil Shakeel, Dr Nisar-ul-Hassan and a few others. As per reports, these conspirators held meetings inside Room Number 13 at the University's Building Number 17 to hatch their plans. The extent of the probe widened beyond Haryana after their accomplices in Uttar Pradesh were arrested. These inlcuded Dr Shaheen and Dr Adeel Rather, unravelling what investigators are now calling a "white collar" terror network. Investigations into the Delhi car blast continue. The Centre has vowed that the perpetrators will not go unpunished. On Friday, the house of the mastermind Dr Umar Un Nabi in Srinagar was blown to bits by the administration. For the Latest news, India News, Bihar Election 2025 updates and breaking stories from around the world, visit Times Now for live coverage and in-depth reporting.

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Tucker Carlson Unveils Shocking Allegations Linking Trump Shooter to Terrorist Networks
World

Tucker Carlson Unveils Shocking Allegations Linking Trump Shooter to Terrorist Networks

Tucker Carlson has once again stirred the political waters with his latest investigation, which has captured the attention of many within the MAGA community. In his recent exposé, Carlson posits that Thomas Crooks, who attempted to assassinate former President Donald Trump, may have ties to a foreign terrorist organization. The former Fox News host and his team have released a detailed 34-minute video scrutinizing the digital footprint of Crooks, the 20-year-old who came perilously close to killing Trump at a rally in Butler, Pennsylvania, back in July 2024. Crooks’ bullet narrowly missed Trump’s skull, a mere inch away. Despite more than a year passing since this shocking attempt on Trump’s life, the FBI has yet to clearly establish Crooks’ motives or determine whether he acted alone or had accomplices. This lingering ambiguity has left many questions unanswered. Carlson’s investigation sheds light on Crooks’ online activity, particularly his YouTube interactions from 2019 to 2020. These digital breadcrumbs reveal a troubling transformation in Crooks’ beliefs, transitioning from a Trump supporter to someone embracing far-left ideologies. His comments online included alarming calls for assassinations and political violence. One of the most concerning aspects of Carlson’s findings is Crooks’ engagement with a user named ‘Willy_Tepes.’ This user appeared to incite Crooks towards violence, exemplified by a chilling message sent on August 4, 2020: ‘If a gun and a badge is all that is needed, then authority obviously comes from the barrel of a gun. We have more guns than they do ;)’ He wrote to Crooks on August 4, 2020, ‘If a gun and a badge is all that is needed, then authority obviously comes from the barrel of a gun. We have more guns than they do ;)’ ‘There is no way we can avoid a war at this point, so you just better get used to the idea,’ he added. Carlson claims that Tepes’s name is listed on a foreign Antifa website connecting him to the Nordic Resistance Movement – a neo-Nazi group based in Scandinavia which has been designated a terrorist organization by the State Department. ‘The FBI hasn’t made any mention of him in public, although they certainly know he exists. Just days after the shooting, somebody screenshotted Tepes’ YouTube account page despite the fact that he has very few followers,’ Carlson said. ‘To the extent that he can be traced online now, you can find his username being used on a foreign Antifa website, those sites link him to the Nordic Resistance Movement … that’s all we know.’ Tepes wrote in another reply to Crooks about government efforts to seize guns from citizens. ‘The more guns that are out there, the less likely a gun confiscation will be possible. Nope, guns do not guarantee a victory anymore than jet fighters, tanks and drones do. It is the fighting spirit and brains that wins.’ ‘We have nothing to lose and everything to win…..and the alternative, a global police state, is unacceptable. Nothing in life is simple but that is no argument against doing it :)’ Following Tepes’ online interactions with Crooks, the Trump shooter’s YouTube commenting ends. Moreover, Crooks’ political views seemingly shifted dramatically towards left-wing ideology around early 2020. In January 2020, Crooks reportedly attacked Trump for his ‘stupidity’ in one of his YouTube comments and mocked Trump supporters for sounding like a ‘cult.’ Crooks then reportedly called for anti-Trump supporters to conduct ‘terrorism-style attacks’ against the US government. The future assassin outlined ways to ‘sneak a bomb’ into a government building and ‘set it off before anyone sees you,’ according to Carlson. ‘[In my opinion] the only way to fight the [government] is with terrorism style attacks, sneak a bomb into an essential building [and] set it off before anyone sees you, track down and important people/politicians/military leaders etc and try to assassinate them. Any sort of head to head fight is suicide and ambush/surprise attacks likely aren’t going to end well,’ Crooks allegedly wrote on YouTube. MAGA influencers and lawmakers reacted with shock to Carlson’ latest reporting and demanded more transparency from Kash Patel’s FBI regarding Crooks. Tennessee Republican Rep. Tim Burchett claimed that Crooks was groomed by the CIA via MKUltra-style mind control programs during an interview reacting to Carlson’s latest report. ‘They programmed this kid. You got a kid who’s got access to guns or has some simple knowledge of a firearm, he was programmed,’ Burchett told conservative influencer Benny Johnson. ‘The facts have been buried or burned or whoever knew is either sitting on a beach somewhere and, uh, enjoying a fruity drink or they’re dead.’ ‘When the CIA says, ‘We don’t have this thing,’ and then their asses are brought into a court of law and they say, ‘Well, we have it, but we don’t use it anymore.’ Apparently, somebody’s using it.’ ‘I’ve said that all along,’ Burchett added. ‘I’ve said that. Look at the history. Look at where we’re at in this country, the Deep State. It’s disgusting. Trump’s right. They’re not after, they’re not after him. They’re after us. He’s just standing in the way.’ Kash Patel, meanwhile, issued a statement indirectly responding to Carlson’s reporting by claiming the Bureau collected an extensive amount of data from Crooks. Patel does not provide any specific details into the data uncovered from the FBI investigation, nor his motive for trying to kill Trump. Furthermore, the FBI director continues to maintain that Crooks had limited online use. ‘The investigation, conducted by over 480 FBI employees, revealed Crooks had limited online and in person interactions, planned and conducted the attack alone, and did not leak or share his intent to engage in the attack with anyone,’ Patel wrote.

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