Pakistan’s ruling coalition clinches Senate top slots of chairman, deputy chairman

Pakistan's foreign minister Ishaq Dar (second from right) administers the oath to Senate Chairman, Yousaf Raza Gillani, in Islamabad, Pakistan on April 9, 2024. (@aishachaudhary/X)
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Updated 09 April 2024
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Pakistan’s ruling coalition clinches Senate top slots of chairman, deputy chairman

  • Ex-premier Yousaf Raza Gillani, Syedal Khan Nasir elected Senate chairman, deputy chairman unopposed respectively
  • Senators affiliated with former prime minister Imran Khan boycotted proceedings of the election in protest

ISLAMABAD: Pakistan’s ruling coalition on Tuesday secured the top posts in the Senate after its candidates, former prime minister Yousaf Raza Gillani and Syedal Khan Nasir, were elected unopposed as chairman and deputy chairman of the house, respectively.

Pakistani senators are elected for a term of six years and are responsible to discuss laws, provide their technical input and vote on legislations like other public representatives. Half of these senators retire every three years and new ones are elected to replace them.

The ruling coalition, led by the Pakistan Muslim League-Nawaz (PML-N) and Pakistan Peoples Party (PPP), joined hands to have Gillani and Nasir elected to the coveted posts on Tuesday. The PPP had nominated Gillani to be the chairman while the PML-N wanted Nasir to hold the post of the deputy chairman.

Both candidates also received support from other political parties and independent candidates.

“It is a unique honor and privilege to be elected as chairman of this august house,” Gillani told the Senate after being sworn in. “I am thankful to Allah Almighty for having been given this opportunity.”

Gillani mentioned the crises the country had been facing, saying: “Pakistan faces an assault of those who seek to divide and polarize us, those who seek to incite hatred, those who seek to replace norms of civility and abuse democracy with demagoguery.”

He said that his party had rejected politics of hate and preferred politics of “reconciliation and of the welfare of people.”

The Senate elections were held earlier this month in Pakistan’s Sindh, Punjab and Balochistan provinces and in the federal capital of Islamabad. The Election Commission of Pakistan (ECP) delayed polls on eleven Senate seats in the northwestern Khyber Pakhtunkhwa (KP) province ruled by the former prime minister Iman Khan’s loyalists last Tuesday.

Pakistan’s election regulatory body had taken the decision in response to a plea by the opposition, which had called for a postponement after nearly two dozen provincial lawmakers on reserved seats were not administered oath despite a court order.

Members of Khan’s Pakistan Tehreek-e-Insaf (PTI) party boycotted the election on Tuesday, saying the exercise was unfair since the Senate was incomplete without the presence of legislators from KP.

At the outset of the proceedings, at least 41 newly elected senators took oath as members of the House amid protests by PTI lawmakers. The ruling coalition managed to bag 19 seats, increasing its tally of total seats to 59 out of 85 in the upper house of parliament.

PTI Senator Falak Naz termed the chairman and deputy chairman Senate’s elections as “unconstitutional,” adding that his party would challenge it in the Supreme Court.

“The Senate is incomplete as our Senators are yet to be elected from Khyber Pakhtunkhwa. Therefore, this election is totally illegal and unconstitutional,” she told Arab News.

“We will protest against this undemocratic process inside and outside the parliament,” she added.

Political analysts said the Senate election had become controversial after the ECP postponed the polls on the 11 seats from KP.

“This will lead to further political instability in the country. Therefore, better sense should prevail to overcome the political challenges through a meaningful dialogue,” Munizae Jahangir, a political analyst and TV talk-show host, told Arab News.

“Our policymakers should understand that economic stability cannot be achieved without political stability in the country. So, it’s high time these political differences are resolved to focus on inflation and other issues of public importance,” she added.


Pakistani Olympic champion Arshad Nadeem named in Forbes 30 Under 30 list

Updated 16 June 2025
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Pakistani Olympic champion Arshad Nadeem named in Forbes 30 Under 30 list

  • Nadeem bagged gold at the Paris Olympics 2024 with record-shattering 92.97 meter javelin throw
  • In May, Nadeem won gold in Asian Athletics Championships in South Korea with 86.4 meter throw

ISLAMABAD: Pakistan’s Olympic gold medalist and star javelin thrower Arshad Nadeem has been featured in the Forbes 30 Under 30 list for South Asia in 2025, the international business magazine said in a report on Monday.

Forbes 30 Under 30 is an annual list published by Forbes since 2011 that recognizes outstanding individuals under the age of 30 across multiple industries. 

Nadeem, 28, made headlines around the world when he threw the javelin over the 90-meter mark in August 2024 during the Paris Olympics. The record-shattering throw handed Pakistan its first Olympic medal since 1992. It was also the first-ever gold medal Pakistan had bagged in a track and field competition. 

“Arshad Nadeem’s impressive javelin throws won Pakistan its first-ever Olympic gold for an individual sport in Paris 2024,” Forbes said in the report.

“Nadeem’s stunning show at the Paris Olympics though, set a new Olympic record for his 92.97m javelin throw.”

The magazine noted that Nadeem also won gold at the Islamic Solidarity Games in Turkiye and the Commonwealth Games in 2022, and secured a silver medal in the men’s javelin throw at the 2023 World Athletics Championships.

In May, Nadeem claimed gold with an 86.4-meter throw in the men’s javelin final at the Asian Athletics Championships in Gumi, South Korea.

He is the first Pakistani in over 50 years to win a gold medal at the Asian Athletics Championships. Pakistan’s Allah Daad had last topped the podium in javelin throw and Muhammad Younis won the 800-meter event in 1973.

He hails from the small town of Mian Channu and has since become a national hero, inspiring millions with his rise from modest beginnings to the top of the Olympic podium.


Pakistan repatriates 268 nationals from Iraq amid ongoing Iran-Israel conflict

Updated 16 June 2025
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Pakistan repatriates 268 nationals from Iraq amid ongoing Iran-Israel conflict

  • Pakistani nationals repatriated through two flights, from Basra to Karachi and Islamabad, says FO
  • Thousands of Pakistani zaireen (pilgrims) travel annually to Iran and Iraq to visit the holy sites there

ISLAMABAD: Pakistan's foreign office said it repatriated 268 nationals from Iraq on Monday, as the Iran-Israel military confrontation enters its fourth day with no signs of either side letting up amid fears of a wider war breaking out in the region. 

Thousands of Pakistani zaireen (pilgrims) travel annually to Iran and Iraq to visit holy sites there. Many have been stranded since Friday when Israel launched a massive wave of attacks targeting Iranian nuclear and military facilities but also hitting residential areas, sparking retaliation and fears of a broader regional conflict. 

Pakistan last week advised its nationals to avoid traveling to Iran and Iraq amid surging tensions. Pakistan said it facilitated the evacuation of 450 nationals from Iran on Sunday. 

"The Ministry of Foreign Affairs, in close coordination with Iraqi Airways, successfully facilitated the repatriation of 268 Pakistani nationals earlier today through two special flights from Basra to Karachi and Islamabad," the foreign office said. 

"Both flights have safely reached Pakistan."

The foreign ministry said it remains engaged with Iraqi Airways and other Iraqi authorities to ensure the safe and timely return of the remaining Pakistani pilgrims in the country. 

It advised Pakistani pilgrims in Iraq to remain in contact with the Pakistan Embassy in Baghdad and respective airlines for timely updates regarding their travel arrangements.

"All zaireen are further advised to remain prepared for travel at short notice," the ministry said. "The Ministry of Foreign Affairs continues to monitor the situation closely and remains fully committed to facilitating the safe and orderly return of all Pakistani zaireen."

Pakistan has condemned the Israeli strikes, calling them an unjustified violation of Iranian sovereignty, and has urged the international community to help de-escalate tensions through dialogue.

Iran has said over 200 people have been killed in Israel's onslaught since Friday, while Israel says Iranian strikes have killed at least 18 people.


Pakistan holds interest rate at 11% as Mideast conflict poses new economic challenges

Updated 16 June 2025
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Pakistan holds interest rate at 11% as Mideast conflict poses new economic challenges

  • Central bank maintains cautious stance as heightened geopolitical tensions, volatile global oil prices add new inflation risks
  • Leading Karachi-based business and trade body criticizes central bank’s decision, says will ‘dampen’ business sentiment

KARACHI: Pakistan’s central bank kept its key interest rate unchanged at 11% on Monday, maintaining a cautious stance, as financial analysts warn heightened Middle East tensions and volatile global oil prices add new risks to the country’s fragile external sector and inflation rate.

A Reuters poll released earlier on Monday had shown analysts revising their expectations for a rate cut in light of Israel’s military strikes on Iran that began on Friday and have since intensified, pushing up global commodity prices.

“The [Monetary Policy] Committee noted some potential risks to the external sector amidst the sustained widening in the trade deficit and weak financial inflows. Moreover, some of the proposed FY26 budgetary measures may further widen the trade deficit by increasing imports,” the central bank said, announcing its decision to leave the rate unchanged.

“In this regard, the Committee deemed today’s decision appropriate to sustain the macroeconomic and price stability.”

Monday’s decision comes days after Pakistan announced its Rs16.7 trillion ($62 billion) annual budget targeting 4.2% growth, up from a provisional estimate of 2.7% for the current year. 

The MPC noted that despite the widening trade deficit, the current account remained broadly balanced in April, and foreign exchange reserves rose to $11.7 billion as of June 6 after the completion of the first review under the International Monetary Fund’s Extended Fund Facility. The country expects $14 billion foreign exchange reserves by the end June.

The bank paused its policy rate easing cycle in March, following cumulative cuts totaling 1,000 basis points from a record high of 22%, and resumed it with a 100-basis-point reduction in May.

Inflation in Pakistan has slowed markedly since peaking at around 40% in May 2023. However, last month it rose to 3.5% year-on-year, above the finance ministry’s projection of up to 2%, partly due to the fading of favorable base effects. The central bank projects average inflation between 5.5% and 7.5% for the fiscal year ending this month.
“Going forward, inflation is expected to trend up and stabilize in the target range,” the MPC said.

The escalating tensions in key oil-producing regions have triggered a sharp surge in global oil prices with brent, West Texas Intermediate (WTI) and Arab Light crude oils showing a 12% week-on-week increase and daily spikes exceeding 6%, Arif Habib Ltd, a Karachi-based research firm, said in its latest note.

‘WAIT-AND-SEE’ STANCE

Amreen Soorani, the head of research at Al Meezan Investment Management, said the SBP’s decision was primarily driven by emerging geopolitical risks that had affected international oil prices.

“Even with substantial improvements in Pakistan’s inflation and external account, the central bank seems to have taken a cautious “wait-and-see” stance,” she told Arab News.

The regional tensions, she said, were posing potential challenges to Pakistan’s balance of payment and inflation rate. Cash-strapped Pakistan spent $17 billion on oil imports last year.

Soorani said petroleum was a major driver of Pakistan’s trade deficit, accounting for approximately 30% of all imports and consuming around 55% of export proceeds.

“All else being equal, a $5 per barrel increase in average oil prices for the year would worsen our trade deficit by an estimated $900 million annually,” the analyst said.

Pakistan is closely watching the global oil market, where brent and WTI crude traded at around $73.5 and $70.5 a barrel on Monday and fell 1% after opening lower in the Western markets, Finance Adviser Khurram Schehzad said.

“Global calls for increasing supplies is (are) one of the reasons among potential resolve of the Israel-Iran conflict by the US,” Schehzad said. 

Muhammad Waqas Ghani, head of research at JS Global Capital Ltd., said the SBP’s current monetary stance was aligned with the IMF’s recommendation to Islamabad to maintain a sufficiently tight monetary policy to anchor inflation.

“Additionally, the committee may have preferred to wait for greater clarity on the budget measures and their potential impact on inflation dynamics,” he told Arab News.

STOCKS GAIN, RUPEE DECLINES

Pakistani stocks gained by 82 points to close at 122,225 points “despite geopolitical risk amid speculations over SBP policy announcement,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities Ltd, said.

The rupee declined for the fifth consecutive session and inched down 0.07% to Rs283.17 per dollar. Qazi Owais Ul Haq, a currency dealer at Arid Habib Ltd. said Pakistan’s currency was “feeling the heat” as regional tensions surge.

“They are trying to hold the rate but as a third-world country war affects us,” Haq told Arab News.

Pakistan’s top trade body, the Federation of Pakistan Chamber of Commerce & Industry (FPCCI) and the Karachi Chamber of Commerce and Industry, (KCCI) said the central bank’s decision to maintain the policy rate at 11% was disappointing

“The SBP has not only ignored market signals but has also dampened business sentiment at a time when the economy urgently requires a boost,” KCCI President Muhammad Jawed Bilwani in a statement.


Pakistan’s Punjab unveils $18.9 billion budget, increases development spending by 47%

Updated 16 June 2025
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Pakistan’s Punjab unveils $18.9 billion budget, increases development spending by 47%

  • Punjab allocates $4.40 billion for development budget, $2.88 billion for education and $2.24 billion for health sectors
  • Provincial government proposes increase in minimum wage from $131 to $142 per month

ISLAMABAD: Pakistan’s largest and richest Punjab province on Monday unveiled its Rs5.33 trillion [$18.9 billion] budget for the fiscal year 2025-26, increasing its development spending by 47% and refraining from imposing new taxes on the masses. 

Punjab, home to more than half of Pakistan’s over 240 million people, plays a dominant role in the national economy. It contributes roughly 60% to Pakistan’s gross domestic product and receives the largest share of federal funds under the National Finance Commission (NFC) Award.

Last year, Punjab’s budget for FY2024–25 was about $19.6 billion, with a development outlay of $3 billion. Punjab’s budget is seen as politically significant for the ruling Pakistan Muslim League-Nawaz (PML-N) party of Prime Minister Shehbaz Sharif, which has faced tough economic and governance challenges since forming its government at the center last year. 

“The total outlay for [Punjab’s] 2025-2026 budget is Rs5,335 billion [$19.2 billion],” Punjab Finance Minister Mujtaba Shuja-ur-Rehman said while presenting the budget in the provincial assembly. 

Rehman said the provincial government was presenting a “record-breaking development budget” this time.

“For which the total amount recommended is Rs1,240 billion [$4.36 billion], which is more than 47% compared to the current financial year,” he added. 

The minister said the FY26 budget did not contain any new taxes on the masses, adding that the government wanted to widen the tax net to increase revenue. 

Punjab’s own-source revenue is projected at Rs828.1 billion ($2.94 billion), including Rs524.7 billion ($1.86 billion) in tax receipts and Rs303.4 billion ($1.08 billion) in non-tax receipts. 

According to budget documents seen by Arab News, the Federal Board of Revenue (FBR) has set a national target of Rs14,131 billion ($50.11 billion), with Punjab’s share estimated at Rs4,062.2 billion ($14.4 billion).

Rehman said the province has proposed a significant increase in education and health budgets to benefit the people of Punjab. 

HEALTH, EDUCATION BUDGETS

“The total allocation for the education sector is Rs811.8 billion ($2.88 billion), which is 21% higher than last year, where development allocation stands at Rs148.5 billion ($526 million), the highest in the province’s history and 127% higher than the previous year,” he said. 

He said Punjab would launch new education projects while continuing existing ones, allocating Rs15 billion ($53 million) for scholarships for high-achieving students and continuing with its Rs5.9 billion ($21 million) Undergraduate Scholarship Programme. 

“To address infrastructure needs, Rs40 billion ($142 million) is set aside for building classrooms, while a Rs35 billion ($124 million) Education Delivery Programme aims to enhance access and quality across Punjab,” Rehman said. 

The minister said the provincial government has allocated Rs630.5 billion ($2.24 billion) for the health sector in this budget, which is 17% higher than last year. 

“Of this, Rs181 billion ($641 million) is earmarked for development, reflecting a 41% increase over the previous year,” Rehman said. 

The minister said Punjab had allocated Rs494 billion ($1.75 billion) for the social sector, which accounted for 40% of the development budget. 

Rehman said provincial government employees’ salaries would be increased by 10%, while pensions have been raised by 5% and the proposed increase in the minimum wage is from Rs37,000 ($131) to Rs40,000 ($142) per month.

The minister said that the new budget has given special priority to Pakistan’s agriculture sector. 

“In the next financial year, Rs123 billion ($436 million) are allocated for development in the agriculture, livestock, irrigation, and water sectors, while Rs56.2 billion ($199 million) is allocated for non-development expenses,” he said.

The provincial minister said to ensure a climate-resilient Punjab, a record Rs795 billion (approximately $2.82 billion) worth of projects were included in the budget this year, accounting for 64% of the overall development budget.

Pakistan’s top revenue-generating Sindh province last Friday unveiled its Rs3.45 trillion ($12.41 billion) new budget while the northwestern Khyber Pakhtunkhwa (KP) province announced a surplus budget of Rs2,119 billion ($7.63 billion) for the next year on the same day.


Pakistan says Iran open to ‘diplomatic dialogue’ if Israel halts strikes

Updated 16 June 2025
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Pakistan says Iran open to ‘diplomatic dialogue’ if Israel halts strikes

  • Pakistan’s foreign minister says has been in direct contact with Iranian counterpart since Israel first launched strikes on June 13
  • Dar rejects social media reports that Pakistan would launch a nuclear strike against Israel if it used nuclear weapons on Iran

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar said on Monday Iran was willing to engage in “diplomatic dialogue” if Israel stopped its military offensive, as the conflict between the two regional rivals entered a fourth day with no sign of de-escalation.

Iran’s Foreign Minister Abbas Araqchi on Monday called on US President Donald Trump to force Israel to cease fire as the only way to end the four-day-old aerial war, while Israeli Prime Minister Benjamin Netanyahu said his country was on the “path to victory.” Meanwhile, Israeli forces stepped up their bombardment of Iranian cities, while Iran proved capable of piercing Israeli air defenses with one of its most successful volleys yet of retaliatory missile strikes.

Speaking during a session of the upper house of Pakistan’s parliament, Dar, who also serves as Pakistan’s foreign minister, said he had been in direct contact with Araghchi since the fighting began on June 13 when Israel launched strikes targeting Iran’s nuclear facilities and senior military leaders.

“He said we will respond to this [attack by Israel] but right now, we are preparing and if Israel does not attack again after our response, we are ready to come to the table for a diplomatic dialogue,” Dar told the Senate. “Then as a neighboring Muslim brotherly country, we passed this on through different channels that there is still time that if the other side [Israel] stops, Iran is ready and if we facilitate them.”

Dar expressed regret that Israel’s air strikes came just two days before planned direct talks between Tehran and Washington on June 15.

Separately, Dar rejected social media reports Pakistan would launch a nuclear strike against Israel if it used nuclear weapons on Iran, calling the reports “fabricated and a lie.”

“This is such an irresponsible statement based on lies and it has been spreading on social media,” he said. “No one has given the statement from our side. It has been fabricated.”

Dar also assured the Senate that Pakistan’s armed forces were on high alert amid the regional crisis, reiterating Islamabad’s resolve to safeguard its nuclear and missile defense systems.

“By the grace of God, Pakistan has the strength to respond to a brick with a stone, to any mala fide intentions ... the armed forces of Pakistan are fully alert,” Dar said in response to a question by a senator about the safety of Pakistan’s nuclear weapons in light of the crisis in neighboring Iran.

“These [nuclear assets] are the nation’s trust for the coming generation. It is our responsibility to safeguard it unitedly, which we will do, are doing, and will continue to do together.”

Israel says its strikes have targeted Iranian facilities to prevent Tehran from advancing toward nuclear weapons capability, which Iran denies, insisting its nuclear program is for civilian purposes. The UN nuclear watchdog reported last week that Iran had breached its obligations under the global non-proliferation treaty.

Pakistan has condemned Israel’s attacks and reiterated that Iran has the right to self-defense under the UN Charter, pledging diplomatic support for Tehran at international forums.