KARACHI: Pakistani authorities said on Sunday they are waiting for salvage tugs to arrive and immediately start a rescue operation for a giant cargo ship stuck off the coast of Karachi as oil leakage is feared.
The MV Heng Tong 77, a cargo ship with a capacity of 3,600 dead weight tonnage, was on the way from Shanghai to Turkey, as it anchored in Pakistan’s territorial waters for a crew change. According to the Karachi Port Trust (KPT), it lost its anchors due to extreme weather and started drifting toward shallow waters in the early hours of Wednesday morning.
While the maritime affairs ministry started an inquiry into the incident, the ship stuck at Karachi’s Seaview beach. The KTP's pollution control team on Sunday sealed off a part of the beach as the vessel is carrying 118 tons of bunker fuel.
"We hope to start operation as soon as the rescue tugs arrive. It may start today (Sunday) or sometime tomorrow," Shariq Amin, KPT spokesman told Arab News. "At the moment groundwork is underway to thwart any untoward incident of oil leakage."
KPT Marine Pollution Control Rapid Response team is monitoring the site non-stop, he said, adding that the Panama-flagged vessel's owner has sent an expert from China to help with the rescue operation, which must correspond tide timings.
While there are no signs of leakage from the vessel, the Pakistan Navy said on Saturday it had been acting under a pollution contingency plan.
“Commander Coast has been nominated as On Scene Commander (OSC) to supervise the on-site preparations to contain risk of pollution in coordination with PMSA (Pakistan Maritime Security Agency) and KPT," the navy said in a statement.
"Anti-pollution barrier has been deployed by KPT around the grounded ship and other response elements are being mustered in vicinity. MV Heng Tong 77 is carrying 118 tons of bunker fuel which is a source of immediate concern."
Pakistan waiting for rescue tugs as leakage feared from giant ship stuck off Karachi
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Pakistan waiting for rescue tugs as leakage feared from giant ship stuck off Karachi
- Vessel lost anchors due to extreme weather and drifted towards shallow water on Wednesday morning
- MV Heng Tong 77 in is carrying 118 tons of bunker fuel which authorities say is a source of immediate concern
Pakistan PM meets UAE president, thanks him for role in defusing India tensions
- Leaders agreed to maintain close coordination, work together “to advance shared goals of regional peace and prosperity”
- Saudi Arabia and the UAE were widely reported to have played a significant role in back-channel diplomacy last month
ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif on Thursday met United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan and thanked him for his government’s efforts in defusing last month’s military conflict with India.
Sharif, who arrived in the UAE earlier in the day, held talks with the Emirati leader on bilateral, regional, and global issues. He had previously met Sheikh Mohamed in February while attending the World Government Summit in Dubai.
According to a statement from the PM’s office, Sharif specifically appreciated the UAE’s “constructive role in promoting peace and stability in the region, including its efforts to de-escalate tensions between Pakistan and India.”
“Both sides expressed satisfaction over the positive trajectory of bilateral ties and ongoing engagements at all levels,” the statement added. “The leaders agreed to maintain close coordination and continue working together to advance shared goals of regional peace and prosperity.”
Between May 7 and 10, nuclear-armed neighbors India and Pakistan exchanged drone, missile, and artillery strikes in their worst cross-border escalation in years. A ceasefire was later brokered by the United States, but Gulf states, particularly Saudi Arabia and the UAE, were widely reported to have played a quiet but significant role in back-channel diplomacy.
During Thursday’s meeting, Sharif also extended a renewed invitation for Sheikh Mohamed to visit Pakistan.
The UAE is one of Pakistan’s most important regional partners, with cooperation spanning trade, investment, defense, energy, and diaspora affairs. Roughly 1.5 million Pakistanis live in the UAE, making it the second-largest overseas Pakistani population after Saudi Arabia.
The UAE is also the second-largest source of remittances to Pakistan behind Saudi Arabia and in May sent $754.2 million home, according to the State Bank of Pakistan.
Bilateral ties have deepened in recent years, especially in areas like infrastructure, renewable energy and logistics. In May 2024, the UAE pledged to invest $10 billion in Pakistan’s key economic sectors as part of its long-term regional economic strategy.
Pakistan needs foreign investment to boost its economy and shore up its currency reserves to meet rising external repayment obligations as it treads a tricky path to economic recovery under a $7 billion IMF bailout deal.
Islamabad police make history with appointment of first woman SHO at men's station
- Sub-Inspector Misbah Shehbaz has been appointed the Station House Officer at Phulgran Police Station Islamabad
- As of 2023, women made up only 3.2% of Pakistan’s total police force, or 15,509 female officers out of 489,645 nationwide
ISLAMABAD: Sub-Inspector Misbah Shehbaz has been appointed the Station House Officer (SHO) at Phulgran Police Station, becoming the first woman to head a general (men’s) police station in the Pakistani capital of Islamabad.
The appointment was announced in an official press statement issued by the Foreign Media Cell of Islamabad Police on Thursday.
According to the statement, the appointment was made through formal orders issued by Deputy Inspector General of Police (DIG) Muhammad Jawad Tariq, who said the move was intended to “end gender discrimination within the Islamabad Police.”
“This initiative will continue and more female officers will be given the opportunity to lead police stations,” Tariq was quoted as saying in the press release.
The post of SHO is one of the most visible and operationally significant leadership roles in Pakistan’s police hierarchy, responsible for crime investigation, public safety, and station-level administration. Until now, female SHOs in Islamabad had only led women police stations.
By assigning a female officer to a mixed or general police station, Islamabad Police is signalling its intent to challenge long-standing norms. Observers say the move also aligns with broader reforms encouraged by both domestic policymakers and international partners such as the UN Office on Drugs and Crime (UNODC), which have pushed for gender-sensitive policing frameworks in Pakistan.
While Shehbaz’s appointment is a welcome development, it also highlights the structural barriers that female officers continue to face in entering Pakistan’s law enforcement sector.
According to the National Police Bureau (NPB) and UN Women Pakistan, as of 2023, women made up only 3.2% of Pakistan’s total police force — that is 15,509 female officers out of 489,645 nationwide.
In Islamabad, female representation was slightly higher at 5.04%, based on official NPB data published in 2023. Between 2019 and 2023, 11,398 women joined various police organizations in Pakistan, but the vast majority were not placed in command or operational leadership roles, as per a UN Women & NPB joint assessment report from 2023.
Experts say the absence of women in decision-making and field leadership reduces institutional responsiveness to gender-based violence and community trust in law enforcement.
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.
