KARACHI: It took four years of abject failure and last-placed finishes, but at long last in the fifth season of the PSL, Lahore has finally begun to make its mark. The country’s most important city has long been the butt of jokes when it comes to this tournament, as its team has routinely been the most incompetent and hapless side. But now with their fourth win on the trot, the Qalandars are eyeing a spot in the playoffs for the first time.
Peshawar Zalmi became the latest side to be rocked by Lahore, having posted the exact same total as Karachi had a few nights back. The Qalandars had destroyed that target with ease, but while Zalmi made it a lot closer, the result was the same. Lahore won by five wickets in the final over to take themselves to third on the table.
A big part of this run for Lahore has been their absolutely delirious home crowd but also the toss. Sohail Akhtar called correctly yet again, and Lahore had the advantage of chasing yet again, a situation that has been common to their winning run. At first, it looked like Peshawar might not give a competitive total to chase, as they lost three wickets within the powerplay. Tom Banton continued his miserable run as Shaheen Shah Afridi got him in the first over, and then Samit Patel picked up Liam Livingstone and danger man Kamran Akmal in consecutive overs.
It was then that Shoaib Malik and Haider Ali came together to put on a game changing partnership. Malik has been in superb form for Peshawar, and had come in with back to back fifties to his name. He immediately looked at ease with the Lahore pitch, and helped the teenager on the other end settle in as well. Both batters effortlessly moved up the gears, finding boundaries with increasing ease. Haider continued to send Pakistani fans’ pulses racing with his range and command, and when he went past 50 he became the youngest to this milestone in the PSL. Malik also helped himself to 50 and it looked like Zalmi were going to end up with a massive total. Unfortunately for them, both fell within three overs and it left new batters in to try and keep the momentum going. No one quite managed, and Peshawar’s eventual 187/7 immediately felt under par, not least because it was the exact score Lahore had chased down with ease against Karachi.
To be fair, Karachi had looked on top for much of that chase until Ben Dunk decided to eviscerate their bowling. Here, it looked like Lahore wouldn’t even need him to come in. Openers Sohail Akhtar and Fakhar Zaman put on a steady yet well-paced start, and when the captain Sohail fell, Chris Lynn joined Fakhar in both getting to 50 as well as their personal best scores of this event. But much like Peshawar, the two fell in quick succession and suddenly what felt like a foregone conclusion became tense. It became truly nerve-wracking for the raucous home crowd when Ben Dunk’s wicket was one of several to fall, leaving Lahore up against it.
The Barbadian all-rounder Carlos Braithwaite was superb at the death, single-handedly carrying the fight. Zalmi’s captain, Wahab Riaz, had bowled much of his best bowlers upfront in the hopes for early wickets, and it left the side lacking resources at the end. David Wiese smacked a pressure-breaking six off Rahat Ali’s penultimate over, and while Braithwaite kept it close, Wiese found another six to give Lahore the win.
Lahore’s recent run has truly opened up the tournament, and with the last few matches to go the tournament can go any which way, with only Multan having secured qualification. Lahore now need one more win to join them, but the rest of the league will have plenty to say about that still.
Hapless Zalmi overwhelmed by Qalandar juggernaut
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Hapless Zalmi overwhelmed by Qalandar juggernaut
- Lahore won by five wickets in the final over to take themselves to third on the points table
- With the last few matches to go, the tournament can go any which way
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.
Pakistan ranks last among 148 nations in WEF global gender gap index
- Pakistan has closed just 56.7 percent of its overall gender gap, down from 57 percent in the previous year
- While Pakistan recorded improvements in education, broader gender equality remained elusive
ISLAMABAD: Pakistan has ranked last among 148 countries in the World Economic Forum’s Global Gender Gap Report 2025, underscoring persistent gender disparities in political and economic representation despite modest gains in female literacy.
The annual report, released this week, assesses gender parity across four key dimensions: economic participation and opportunity, educational attainment, health and survival, and political empowerment.
“Occupying the bottom rank of the index (148), Pakistan sees its overall parity score decline from last year’s edition from 57 percent to 56.7 percent,” the report said, marking the second consecutive annual decline in parity.
While Pakistan recorded improvements in education, the report noted that broader gender equality remained elusive.
The country showed a 1.5 percentage point gain in educational attainment, raising its parity in this area to 85.1 percent, driven partly by a rise in female literacy from 46.5 percent to 48.5 percent, according to WEF.
“Part of the shift is driven by an increase in female literacy rates from 46.5 percent to 48.5 percent,” the report said.
However, it cautioned that the improvement at the university level was partially due to a decline in male enrollment, rather than a significant surge in female participation.
In contrast, the country’s economic participation and opportunity index fell by 1.3 percentage points, amid a widening income and wage gap. The report noted a marginal increase in income disparity and a four-percentage-point rise in perceived wage inequality.
Women continue to make up a small share of Pakistan’s labor force — just 22.8 percent, according to a 2024 World Bank report — and few hold leadership or managerial positions.
Pakistan also saw a notable regression in political empowerment, with parity dropping from 12.2 percent in 2024 to 11 percent in 2025. While women’s representation in parliament rose slightly by 1.2 percentage points, the share of women in ministerial positions dropped from 5.9 percent to zero, according to the WEF.
“Overall Pakistan has closed +2.3 of its gender gap since 2006,” the report noted. “However, this year’s results are a second consecutive drop from the economy’s best score of 57.7 percent achieved in 2023.”
Pakistan has consistently ranked near the bottom in past editions of the Global Gender Gap Index and the 2025 report underscores the country’s ongoing struggle to create equitable opportunities for women, particularly in the political and economic spheres. Progress in education, while encouraging, remains insufficient to offset broader systemic inequalities.
