KARACHI: Tournament favorites India wrapped up a dominant run in the round-robin stage of the ICC World Cup 2019 to top the table with a thorough out-classing of Sri Lanka at Leeds on Saturday. On a day of centuries, Angelo Matthews’ superb effort after a top-order collapse only served to provide enough runs for both Indian openers, KL Rahul and Rohit Sharma, to get their hundreds too. For the tournament’s leading scorer, Rohit, this was a barely believable fifth century in this tournament — a new record.
In contrast, Sri Lanka ended a largely miserable tournament that was slightly made up by a sensational victory over hosts England, as they finished third from bottom.
Since breaking the Indo-Pakistan duopoly in Asian cricket in the mid 90s by winning the World Cup (the last side to win it for the first time in 1996), Sri Lanka has always managed to punch above its weight, particularly in clashes with its regional rivals. Its rivalry with India carried the political weight of the fallout of the Tamil Tiger rebellion in Sri Lanka and India’s actual and perceived roles in that. More broadly, it also carried enough sporting bite as Sri Lanka persistently looked to be the David to India’s inevitable Goliath.
In the late 2000s, as Sri Lanka built up their best side perhaps of all time, financial reasons, broadcasting demands and changing politics saw a sudden upsurge of matches between these two sides. From playing Sri Lanka a handful of times for most of the decade, the era between 2008-2012 saw at least a third of all Indian ODIs every year being played against Sri Lanka, with a peak in 2012 where Sri Lanka matches were 58% of India’s ODI schedule.
Cricket communities in the nascent social media era of that time churned out innumerable blogs, posts, tweets and memes on the inevitability and regularity of India-Sri Lanka matches. But then Indian cricket sought to dominate the world, its priorities shifted, and these matches almost ended. From 2015 to this year, with the exception of 9 ODIs played in 2017, this was the first time India was facing Sri Lanka.
In the time since, Sri Lanka had seen the core of their legendary side retire, with the likes of Lasith Malinga playing out their swansong at this World Cup. Angelo Matthews had been the great Sri Lankan hope in the aftermath of all those retirements, an all-rounder with a golden touch in both innings. Yet injuries, and the persistent involvement of melodrama in Sri Lankan cricket had prevented his rise to mythical status. After a torrid, attritional innings against England that proved to be match-winning, his efforts here were equally heroic, far more fluent, but futile. Coming in after the routine Sri Lankan top order collapse at 55-4, he played one of the finest innings of his career, absorbing all the pressure and then later unleashing to give Sri Lanka a target to defend. It was never going to be enough for India’s batters.
Rohit Sharma once personally hit more runs in an innings against Sri Lanka than what they had managed here. After scoring his third consecutive hundred, he let the world know that he is in better form now than he was in those days when he was scoring 200s in ODIs.
Indeed, as Indian cricket continues to grow across its vast people to smaller towns and villages, Rohit carries the weight of being the heir apparent of Mumbai’s continuing claim as the producer of India’s most stylish batters, a list that includes the likes of Sunil Gavaskar and Sachin Tendulkar. Sachin of course was also known as god, a moniker that in this current side perhaps more fittingly belongs to captain Virat Kohli.
But if Kohli is the god, Rohit is that part of the religion that inspires its mystical elements and branches. He lacks the process-driven, peak efficiency, super focused attributes of Kohil, mostly because he seems to play like a savant who exists in a life beyond this one. He seemed to acknowledge the importance of tranquility to his approach when he said, “Every day is a new day, I start fresh, I try to think I’ve not played any ODIs [before], not gotten any hundreds in the tournament. The challenge as a sportsman is to keep your head straight.”
But while Rohit’s shotmaking always carried the ease and artistry of mandala-creating monks, this World Cup seems to have unleashed a ruthless consistency that wasn’t always attributed to him before; he now has more centuries in this World Cup than Sachin scored in six tournaments.
All this means that India ends the tournament with a deserved spot as no.1, as their nearest rivals Australia lost to South Africa to confirm that all the other challengers carried more flaws than Kohli’s side did. Typically, Kohli sought to bat away the dominance of his side, insisting on the processes at play: “We wanted to play good cricket but didn’t expect 7-1 (seven wins, one defeat). More or less everything is set for the semis, but we don’t want to be one-dimensional. We have to turn up on the day and put in another performance. For us the opposition never matters, if we don’t play well anyone can beat us, if we play well we can beat anyone.”
India’s next challenge is now a semifinal against New Zealand, a team that has a long history of losing semifinals and which has lost to every side ranked above it in the table. A clash in the final with hosts England — who face Australia in the semifinals — would provide the perfect end for broadcasters and many fans. But for Kohli and his side, they wouldn’t really care about any of the three sides left in the tournament. They’ll only be focusing on themselves.
Record-breaking Rohit leads India’s charge to the top with Sri Lanka win
Record-breaking Rohit leads India’s charge to the top with Sri Lanka win
- India’s next challenge is now a semifinal against New Zealand, which has a long history of losing semifinals
- A clash in the final with hosts England would provide the perfect end to the tournament for fans and broadcasters
Pakistan urges EU to continue GSP+, raises alarm over India’s water treaty violations
- Pakistani delegation has visited US, UK, Brussels to discuss regional tensions following military escalation with India
- Pakistani officials in the delegation warn EU officials of the wider implications of India undermining water treaties
KARACHI: A high-level Pakistani delegation visiting Brussels on Thursday urged European Union officials to support the continuation of Pakistan’s preferential trade access under the GSP+ scheme, while also raising concern over India’s alleged violations of the Indus Waters Treaty.
The delegation, led by former foreign minister Bilawal Bhutto Zardari, met with Bernd Lange, chair of the European Parliament’s International Trade Committee, to discuss regional tensions following a recent military escalation with India, the worst confrontation between the nuclear-armed neighbors in decades.
The group previously visited Washington and London as part of a broader diplomatic effort to rally international support after the conflict in which the two nations exchanged drones, missiles, and artillery strikes between May 7-10 before a ceasefire was announced. Since then, both countries have launched diplomatic offensives to present their narratives on the conflict and its causes.
“We just had a meeting with their [EU] trade representative, where we conveyed Pakistan’s message of peace,” Bhutto Zardari told reporters after the meeting.
“In that context, we specifically raised the decisions related to the Indus Waters Treaty, which are violations of international law, and in the EU context, they strongly believe in respecting treaties and adhering to international law. So, in that context, we pitched our case.”
The 1960 Indus Waters Treaty, brokered by the World Bank, governs the distribution of water from the Indus River system between India and Pakistan. Islamabad has expressed alarm in recent months over what it sees as India’s unilateral actions affecting river flows, warning that any withdrawal from or violation of the treaty could destabilize water access for millions of people in the region.
Bhutto Zardari emphasized that Pakistan seeks engagement over confrontation with India, citing terrorism, the longstanding Kashmir territorial dispute, and water issues as areas that require dialogue.
“There should be engagement with India, whether on the issue of terrorism, the Kashmir dispute, or, of course, the critical issue of water, so that solutions can be found,” he said.
Bhutto Zardari also thanked the European Union for expressing condolences over Pakistani casualties in the recent clashes with India and praised the bloc’s commitment to international norms.
“If you look at this recent conflict, the violation of international law has been committed by one side, and that side is not Pakistan,” he said.
Musadiq Malik, Pakistan’s federal minister for water resources and another member of the delegation, warned EU officials of the wider implications of undermining water treaties.
“If India is given the right to exit the Indus Waters Treaty, then 70 percent of the world’s countries that are lower riparian, whose populations depend on drinking water, agriculture, and life itself, will face destruction,” Malik said.
He urged the international community to preserve a rules-based global order.
“Because if we do not, remember, in the Wild West, the one with the faster gun ruled,” he added.
Former ambassador Jalil Abbas Jilani, also part of the delegation, said the team had requested continued EU support for Pakistan under the Generalized Scheme of Preferences Plus (GSP+), which allows duty-free or low-duty access for developing countries to the European market in exchange for progress on human rights, labor standards, environmental protection, and good governance.
“We requested them to continue their support for GSP+, as they have in the past,” Jilani said. “We hope the European Union will take into consideration Pakistan’s need for the GSP+ status and will play a role in its continuation.”
The current GSP+ arrangement, which has significantly boosted Pakistan’s textile exports to the EU, is due for review as the bloc finalizes the next phase of its trade preference program. The scheme has played a key role in supporting Pakistan’s exports, particularly in the garment sector, which employs millions.
Pakistan GSP+ benefits were extended last year until 2027.
Pakistan forms body to review e-commerce tax policy after new budget measures
- Fiscal plan for 2-25-26, announced on June 10, imposes tiered taxation structure on digital transactions
- Commerce, IT ministries are seeking input on reforms amid concerns over rising costs for online businesses
ISLAMABAD: Pakistan’s commerce and information technology ministries have announced the formation of a joint working group to propose changes to the country’s e-commerce tax regime, following the introduction of new digital levies in the federal budget for fiscal year 2025–26.
The budget, announced on June 10, imposes a tiered taxation structure on digital transactions. For payments under Rs10,000 ($35), a 1 percent tax will be applied. Payments between Rs10,000 and Rs20,000 ($71) will face a 2 percent tax, while transactions above Rs20,000 will be taxed at 0.25 percent. Courier services will collect the tax for cash-on-delivery orders, and payment gateways will deduct it for online payments.
The measures have raised concerns among businesses about increased compliance burdens and costs for online consumers.
“In line with the consultative approach of the forthcoming policy, Minister Kamal Khan announced the formation of a joint working group with input from the IT Ministry to gather comprehensive recommendations on taxation, vendor compliance and digital payments,” the commerce ministry said in a statement after a meeting between Commerce Minister Jam Kamal Khan and IT Minister Shaza Fatima Khawaja.
“The group’s findings will be formally presented to the prime minister for final consideration,” it added.
“Minister Kamal also confirmed that e-commerce policy 2.0 is in its final stages of internal review and will soon be submitted for cabinet approval.”
Pakistan’s e-commerce sector has grown rapidly, reaching a market value of Rs2.17 trillion ($7.7 billion) in 2024, according to the ministry of commerce. The sector is expected to expand at a compound annual growth rate of 17 percent through 2027, driven by increased smartphone penetration, digital payments, and logistics infrastructure.
The new tax framework has triggered concern among industry stakeholders, particularly small and medium-sized enterprises (SMEs), which dominate Pakistan’s online retail sector. Analysts say the measures could slow growth and hinder innovation in a sector seen as key to the country’s digital transformation.
In comparison, regional tax regimes vary.
India applies a 1 percent Tax Collected at Source (TCS) on e-commerce sellers under its Goods and Services Tax (GST) framework, while Bangladesh introduced a 5 percent VAT on local digital services in 2022. Sri Lanka levies a 2.5 percent Value Added Tax on online purchases, with additional withholding tax for certain platforms.
Globally, the European Union imposes VAT on cross-border e-commerce transactions, with rates ranging from 17 percent to 27 percent, while US states apply sales taxes ranging between 0 percent and 10.25 percent, depending on jurisdiction.
Pakistan’s e-commerce policy 2.0, once finalized, is expected to address regulatory gaps and streamline the digital business environment, which has so far operated under fragmented taxation and compliance rules.
Pakistan stocks retreat as profit-taking offsets recent rally
- Volatility marked the session with intraday swings before a 0.21 percent decline
- KSE‑100 Index swung between intraday high of 2,365 points, low of 501 points
ISLAMABAD: Pakistan’s stock market ended lower on Thursday as investors locked in gains following a recent surge, even though there were no major policy or economic surprises during the session, analysts said.
The KSE‑100 Index closed at 124,093, down 260 points, or 0.21 percent, after swinging between an intraday high of 2,365 points and a low of 501 points, reflecting heightened volatility tied to profit-taking in heavyweight sectors.
Trading activity was brisk: the broader all‑shares index traded 1.018 billion shares, indicating strong market participation and continued investor engagement .
“The Pakistan stock market ended the session on a negative note, weighed down by cautious investor sentiment and profit-taking activity,” Pakistani brokerage house Topline Securities said in its daily market review.
The Pakistani market has rallied over 80 percent in the past year, boosted by a favorable macroeconomic environment, easing inflation, and the resumption of an International Monetary Fund (IMF) support program. That momentum peaked in early June, with the KSE‑100 briefly nearing the 126,700 mark .
Profit‑taking was the most likely trigger for Thursday’s dip, particularly in the banking, cement, and energy sectors, where gains had been steepest in recent weeks.
Market participants are also assessing the federal budget for 2025-26, released this week, which aims to boost GDP growth to 4.2 percent, reduce the fiscal deficit, and implement reforms under a broader $7 billion IMF program.
With profit-booking likely to persist, analysts predict a period of range-bound trading in the short term. The budget’s implementation and IMF engagement will be key drivers, with any setbacks in revenue mobilization or delays in reform efforts presenting downside risks.
That said, if broader economic stability holds and reforms proceed as planned, sentiment is likely to stabilize, keeping the market on solid footing, analysts say.
Pakistan’s legendary Wasim Akram praises his statue amid social media flak
- Statue installed outside Hyderabad’s Niaz Stadium in April shows Akram bowling in 1999 World Cup team kit next to statue of a tiger
- Fans have been mocking statue saying, “only thing that looks real is the ball,” while face looked more like Hollywood hero Sylvester Stallone
KARACHI: Legendary Pakistan cricketer Wasim Akram saluted on Thursday the “effort” of the artist who created a statue of him that has spawned scorn on social media.
The statue of Akram — one of the greatest left-arm fast bowlers to play the game — was installed outside the southwestern city of Hyderabad’s Niaz Stadium in April.
Akram is shown bowling wearing the kit of the 1999 World Cup team, when Pakistan were runners-up.
Nearby is a statue of a tiger.
One fan mocked the statue, saying: “The only thing that looks real is the ball,” adding the face looked more like Hollywood hero Sylvester Stallone.
The affable Akram, however, took to social media to praise the effort.
“Lots of talk about my sculpture being erected at Niaz Stadium, Hyderabad. Mine is definitely better than the tiger,” he posted on X.
“It’s the idea that matters. Credit to the creators, full marks for the effort and thanks to everyone involved.”
Australia has a history of placing statues of their iconic players outside their stadiums, while India unveiled one of master batter Sachin Tendulkar outside a stadium in Mumbai in 2023.
Niaz stadium chief Shiraz Leghari told AFP: “The artist did his best effort, but accepts it doesn’t resemble (Akram) a hundred percent.”
Akram is one of the country’s most celebrated cricketers, having represented Pakistan in 104 Tests and 356 ODIs with 414 and 502 wickets respectively.
He was the leading wicket-taker in the 1992 World Cup when Pakistan claimed the trophy.
Pakistan, Saudi firm launch $150 million minerals complex to cut imports, boost exports
- Initiative is being facilitated through provincial government of Punjab and Pakistan’s SIFC investment facilitation body
- Anfal Group’s engagement marks one of the first foreign-led projects under SIFC’s umbrella in the minerals sector
ISLAMABAD: Pakistan has launched a $150 million minerals processing complex in Punjab province in collaboration with Saudi-based Anfal Group, a private industrial company, aiming to reduce chemical imports and expand mineral-based exports, state media reported on Thursday.
The initiative is being facilitated through the provincial government of Punjab and Pakistan’s Special Investment Facilitation Council (SIFC) — a powerful civil-military body established in 2023 to fast-track foreign investment in key sectors such as mining, agriculture, energy, and information technology. The council brings together civilian ministries, the military, and provincial governments to streamline decision-making and reduce bureaucratic delays in large-scale projects.
The new complex is part of Pakistan’s push to attract foreign investment into its underdeveloped mineral sector. The project is expected to save Pakistan approximately $2.9 billion annually by substituting chemical imports and will create new export opportunities for processed minerals, including rock salt.
“The project will... open new opportunities for the export of key chemicals, including rock salt,” Radio Pakistan reported.
The Anfal Group’s engagement marks one of the first foreign-led projects under the SIFC’s investment umbrella in the minerals sector.
Based in Saudi Arabia, Anfal specializes in industrial chemicals, construction materials, and salt processing. Its entry into Pakistan aligns with Islamabad’s broader strategy to partner with Gulf investors in value-added resource development.
With global demand rising for critical minerals, Pakistani officials hope such partnerships will help transform the sector from a largely extractive industry into one that generates jobs, revenue, and export earnings through processing and value addition.
Pakistan holds untapped mineral reserves worth an estimated $6 trillion, including copper, gold, lithium, coal, rock salt, and iron ore. Despite this, the sector contributes just 3.2 percent to GDP, and mineral exports account for less than 0.1 percent of global trade.
The country produces around 68 million tones of minerals annually, yet value addition remains minimal, with most raw materials exported without processing. Notable reserves include the massive Reko Diq copper and gold mine in Balochistan, which is being developed by Canada’s Barrick Gold in partnership with Pakistani state entities.
Pakistan also hosts the world’s second-largest salt mines, significant coal reserves in Sindh’s Thar region, and emerging lithium deposits in northern Gilgit-Baltistan and Khyber Pakhtunkhwa.
In April, Pakistan hosted its first Minerals Investment Forum, where the government unveiled the National Minerals Harmonization Framework 2025, intended to streamline licensing, regulation, and investment facilitation in the extractives sector.
