Faraz Saeed

Muhammad Ibrahim

ISLAMABAD/LAHORE: Pakistan raised 1.75 billion yuan ($250 million) through its inaugural Panda Bond issuance in China&rsquo;s domestic capital market, with investor demand exceeding the offering size by more than five times, according to the top officials of Pakistan&#39;s finance ministry. The three-year fixed-rate bond, Pakistan&rsquo;s first sovereign yuan-denominated issuance in China&rsquo;s onshore market, attracted orders worth more than 8.8 billion yuan ($1.26 billion), Adviser to the Finance Minister Khurram Schehzad said Thursday in a statement posted on X. The bond carried a 2.5% coupon, which authorities said reflected investor confidence in Pakistan&rsquo;s improving macroeconomic outlook, external-sector stability and fiscal management. &ldquo;The strong order book enabled highly competitive pricing [2.5% coupon], demonstrating the market&rsquo;s positive assessment of Pakistan&rsquo;s improving macroeconomic fundamentals, external stability, disciplined fiscal management, and sovereign repayment capacity,&rdquo; Schehzad said. Pakistani officials described the transaction as a milestone in the country&rsquo;s efforts to diversify external financing sources and deepen financial cooperation with China.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfdGltZWxpbmVfbGlzdCI6eyJidWNrZXQiOltdLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2ZvbGxvd2VyX2NvdW50X3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9iYWNrZW5kIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19yZWZzcmNfc2Vzc2lvbiI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfZm9zbnJfc29mdF9pbnRlcnZlbnRpb25zX2VuYWJsZWQiOnsiYnVja2V0Ijoib24iLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X21peGVkX21lZGlhXzE1ODk3Ijp7ImJ1Y2tldCI6InRyZWF0bWVudCIsInZlcnNpb24iOm51bGx9LCJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3Nob3dfYmlyZHdhdGNoX3Bpdm90c19lbmFibGVkIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19kdXBsaWNhdGVfc2NyaWJlc190b19zZXR0aW5ncyI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdXNlX3Byb2ZpbGVfaW1hZ2Vfc2hhcGVfZW5hYmxlZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdmlkZW9faGxzX2R5bmFtaWNfbWFuaWZlc3RzXzE1MDgyIjp7ImJ1Y2tldCI6InRydWVfYml0cmF0ZSIsInZlcnNpb24iOm51bGx9LCJ0ZndfbGVnYWN5X3RpbWVsaW5lX3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9mcm9udGVuZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=2054937784734069136&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=255bcace2f24cbbe5a45f799ff858b0be5b5b10c&theme=light&widgetsVersion=6a3ad42b224df%3A1778106238597&width=550px" style="position: static; visibility: visible; width: 550px; height: 648px; display: block; flex-grow: 1;">&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>According to the statement, demand for the inaugural issuance alone exceeded Pakistan&rsquo;s broader Panda Bond program target of 7.2 billion yuan, or roughly $1 billion. Finance Minister Muhammad Aurangzeb described the issuance as a &ldquo;historic achievement,&rdquo; saying the successful transaction reflected strengthening international confidence in Pakistan&rsquo;s economic reforms and sovereign financial credibility. &ldquo;The Panda Bond issuance is a strong signal of Pakistan&rsquo;s return to international financial markets,&rdquo; Aurangzeb said, adding that the transaction opened &ldquo;a new chapter&rdquo; in Pakistan&rsquo;s global economic and financial engagement. Waqas Ghani, chartered financial analyst and head of research at JS Global Capital, told Pakistan TV Digital the issuance reflected &ldquo;strong investor confidence that Pakistan&rsquo;s fiscal reforms are structural, not temporary.&rdquo; &ldquo;By accessing one of the world&rsquo;s largest capital markets, Pakistan is moving beyond crisis-driven borrowing and toward stronger investment-grade credibility,&rdquo; Ghani said.&nbsp; He added that Pakistan was seeking to diversify external financing sources and expand access to international capital markets beyond conventional dollar-denominated borrowing. Talking to Pakistan TV Digital, Rabia Ikram, assistant professor at Lahore School of Economics, said the issuance highlighted growing financial trust between Pakistan and China while reducing dependence on traditional Western lenders. &ldquo;It gives Pakistan access to a new market and reduces dependence on traditional Western lenders,&rdquo; Ikram said. &ldquo;At the same time, borrowing alone is never the solution unless it is backed by reforms and export growth.&rdquo; &ldquo;Overall, it&rsquo;s a smart financial move if managed carefully in the long run.&rdquo; Pakistan has sought to stabilize its economy following a prolonged balance-of-payments crisis that led the country to secure financial support from the International Monetary Fund and allied countries.&nbsp; Officials say the Panda Bond issuance marks a broader effort to transition from short-term stabilization toward sustained access to international capital markets.

This picture taken on May 28, 2025 shows a man walking past a currency exchange in Seoul's Daerim neighborhood, home to thousands of ethnic Chinese. (AFP/File)

Economy

Finance chief says Pakistan’s debut Panda Bond marks a historic return to international financial markets, reflecting stronger global confidence in the country’s economic reforms, sovereign credibility and expanding engagement with global capital markets.

Pakistan raises $250 million in debut Panda Bond, demand tops fivefold

LAHORE: Classical dancers in Pakistan struggle. There are few venues dedicated to their art, fewer funding sources, and little opportunity for students to learn directly from masters. A two-day festival here attempted to solve that problem by providing a platform devoted entirely to Kathak, one of the South Asia&rsquo;s oldest dance traditions. The festival, held at the Alhamra Art Centre and Maharaj Kathak Studio, brought together established practitioners, emerging dancers and students. Organizer Maan Sayeed and co-organizer Momina Farooq Khan designed the event to address the structural challenges Kathak performers face. &quot;Dancers are struggling due to the absence of platforms and a permanent source of income,&quot; Maan Sayeed said while speaking to Pakistan TV Digital. &quot;This gives them space, so young dancers can meet maestros, learn, and so the art form remains part of public conversation.&quot; First day: Discussions and workshops The opening day featured panels and workshops. Senior scholars and performers including Sheema Kermani, Nighat Chaudhry, Bina Jawwad, Adnan Jahangir, Ghazala Irfan and Abuzar Madhu discussed Kathak&#39;s history across the subcontinent. They said the form should be understood as shared artistic heritage, not divided by borders into separate cultural narratives. Conversations also addressed how to make classical arts more accessible and create sustainable platforms for dancers in Pakistan. A second panel brought together younger practitioners. Momina Farooq Khan, Hammad Rasheed, Jessica Zakria Iqbal and Kanza Bano discussed how they entered the field and the obstacles they face building careers. Workshops led by Sayeed, Rasheed and Sujata Banerjee allowed younger practitioners to train directly under experienced ones. Second day: Performances By the second day, the focus shifted to live performance. The venue filled to capacity, with crowds standing outside unable to enter. The evening opened with student dancers followed by Hammad Rasheed, a Kathak instructor at Alhamra. Organizer Maan Sayeed and co-organizer Momina Farooq Khan also gave a graceful performance. The program then shifted to classical music. Vocalist Akbar Aki Khan performed &quot;Man Atkeya Beparwah De Naal,&quot; a composition by Sufi poet Shah Hussain. Flute maestro Ustad Muhammad Hanif Khan, known for blending dhrupad and khayal traditions, performed next. Bina Jawad led the ensemble Harsukhiyan with her three daughters. Meanwhile, Sheema Kermani&#39;s performance brought the audience to a standing ovation. Nighat Chaudhry performed last, closing the festival. Speaking to Pakistan TV Digital, she highlighted the importance of institutional spaces for both emerging and established artists. &quot;This kind of festival is important to provide platforms to young artists and for them to meet seasoned practitioners,&quot; she said. &quot;It changes how Kathak is viewed, and even the audience becomes more informed through exposure.&quot;

Culture

Senior performers and scholars discuss Kathak’s shared heritage across South Asia and examine ways to improve access, training opportunities and long-term support for classical dancers in Pakistan.

Kathak: South Asia’s classical dance tradition comes alive in Lahore

LAHORE: In eastern Pakistani city of Lahore, construction is the sound of a city becoming itself.&nbsp;Before sunrise, the streets begin to stir, tea stalls hiss awake, trucks rattle through narrow roads, and half-built homes stand like unfinished promises against the skyline. By midmorning, the rhythm takes over: steel striking steel, wet cement turning to walls, bricks passing hand to hand in practiced motion.&nbsp;Lahore, Pakistan&rsquo;s cultural heart and one of South Asia&rsquo;s fastest-growing cities, is expanding upward and outward.&nbsp;New housing blocks, roads, schools and commercial centers continue to reshape its edges, powered by the hands of construction workers. The labor force behind the city&rsquo;s transformation.&nbsp;On International Labor Day, their work comes into sharper focus.&nbsp;&ldquo;Laborer is everywhere,&rdquo; Muhammad Sardar, 35, a daily-wage construction worker in Lahore told Pakistan TV Digital earlier this week. &ldquo;Wherever you see buildings, colleges, homes&hellip; laborer built them.&rdquo;&nbsp;It is a simple truth, often overlooked.&nbsp;Pakistan&rsquo;s construction sector employs millions and remains one of the country&rsquo;s largest engines of economic activity, linking more than 40 allied industries, from cement and steel to transport and engineering.&nbsp;In Punjab alone, where Lahore sits, the provincial minimum wage for unskilled workers stands at Rs40,000 ($143.48) a month, or roughly Rs1,538 ($5.52) a day under current wage notifications.&nbsp;The province&rsquo;s labor framework also guarantees overtime protections, workplace safety standards, and social security registration for eligible workers.&nbsp;But for workers like Sardar, every rupee has a destination before it is earned. Rent, school fees, electricity bills, medicine.&nbsp;By dawn, he is at a construction site. By dusk, he has helped build walls he may never live inside.&nbsp;That is the quiet paradox of labor: building shelter for others while chasing stability for your own family.&nbsp;In Lahore&rsquo;s fast-changing neighborhoods, where old brick homes meet new concrete towers, workers carry entire futures on their backs. A bag of cement weighs 50 kilograms. A stack of bricks, even more. But the heavier burden is often the one waiting at home.&nbsp;For 55-year-old Ghulam Muhammad, construction work has been life&rsquo;s only profession. For nearly four decades, he has helped build roads, homes and public buildings across Lahore.&nbsp;&ldquo;I have spent my life building,&rdquo; he said. &ldquo;When you see these roads and structures, there is a laborer behind them.&rdquo;&nbsp;His hands are weathered now, his pace slower. But like thousands of others, he still reports for work each morning.&nbsp;For many workers, Labor Day is less about celebration than reflection. And in a city known for its history, from the Mughal walls of the Lahore Fort to its expanding modern neighborhoods, labor remains the thread connecting past and future.

In Lahore, construction workers power the city’s growth, building homes, roads and schools daily, as Labour Day highlights their essential yet often overlooked role, marked by hard labor, low wages, and the ongoing struggle to support families

Lahore rises brick by brick on workers’ shoulders and dreams

With the Hormuz blockade tightening around Iran&#39;s exports, storage tanks are filling fast. According to Kepler data, Iran could run out of storage space in as little as 12 to 22 days. The obvious solution is to stop pumping. But in the oil industry, that is rarely the answer. Shutting down a well risks permanent pressure loss, collapsed flow pathways and costly restarts that can take months or years.&nbsp;

Shorts

With the Hormuz blockade tightening around Iran's exports, storage tanks are filling fast. According to Kepler data, Iran could run out of storage space in as little as 12 to 22 days. 


Iran running out of oil storage space: Here's why it can't just turn off its wells

<span style="color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif; font-size: 18px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: -0.07px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: pre-wrap; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important;" id="isPasted">The Ravi Lounge has been established amid a steady rise in the number of Chinese nationals arriving in Pakistan for business, infrastructure projects, and official engagements, prompting targeted facilitation at one of the country&rsquo;s busiest airports.

Ravi lounge at lahore airport dedicated for chinese passenger

Ravi lounge at Lahore airport dedicated for Chinese passenger

Kalma Chowk has defined modern Lahore since the mid-1980s&mdash;and today, it stands as a symbol of the city&rsquo;s evolution into a globally comparable urban hub.

Punjab Series: Underpasses and arterial links: Inside Lahore's reborn Kalma Chowk

Rising tensions around the Strait of Hormuz have prompted Pakistan to increase domestic oil production. OGDCL has crossed 40,000 barrels per day for the first time in six years, with Kohat&#39;s Baragzai well reaching record levels. Pakistan now produces over 90,000 barrels per day but consumes around 440,000 barrels per day. The country still depends largely on imports, using the recent rise in domestic production as a strategic cushion rather than a complete solution.

 OGDCL has crossed 40,000 barrels per day for the first time in six years, with Kohat's Baragzai well reaching record levels. 

Viral

OGDCL has crossed 40,000 barrels per day for the first time in six years, with Kohat's Baragzai well reaching record levels.

Pakistan sets highest single-well oil production record in its history

LAHORE: Pakistan has ended an eight-year ban that kept cryptocurrency firms out of the banking system, allowing lenders to work with the sector under a tightly controlled framework. The State Bank of Pakistan (SBP) said in a circular dated April 14 that banks can open accounts for virtual asset companies licensed by the Pakistan Virtual Assets Regulatory Authority (PVARA), a body set up under the Virtual Assets Act passed in March.&nbsp; The move marks the country&rsquo;s first formal step toward bringing crypto activity into the regulated financial system since restrictions imposed in 2018. Access is limited to firms approved by the regulator. Companies holding only a no-objection certificate can open restricted accounts, while full transaction services are allowed only after a license is granted.&nbsp; Banks must verify each firm&rsquo;s regulatory status before onboarding.The central bank kept strict limits on lenders&rsquo; role.&nbsp;Banks are not allowed to trade, invest in, or hold cryptocurrencies, either for themselves or on behalf of customers.&nbsp; Their function is limited to providing accounts and payment services.&nbsp;The rules also require crypto firms to keep customer funds separate from their own.&nbsp; Due diligenceThese balances must be held in non-interest accounts in Pakistani rupees and can only be used to settle approved transactions.&nbsp;Cash deposits and withdrawals are not permitted, and the funds cannot be used as collateral. Banks must carry out full due diligence on each client and monitor transactions on an ongoing basis.&nbsp;Suspicious activity must be reported under existing anti-money laundering laws, extending current financial controls to the crypto sector. The policy shift follows rapid growth in crypto use despite the earlier ban. Pakistan ranked among the top countries in Chainalysis&rsquo; 2025 Global Crypto Adoption Index, reflecting demand for remittances, access to dollar-linked assets and wider use of mobile financial services.&nbsp; Industry estimates cited by officials put the number of users at more than 40 million, with annual trading volumes approaching $300 billion, much of it outside formal oversight&nbsp;Landmark momentSpeaking to Pakistan TV Digital, the PVARA chairman said &ldquo;This is a landmark moment. For eight years, a blanket prohibition cut Pakistan off from a financial innovation that the rest of the world was building infrastructure around. What SBP has done today is not just lift a ban. It is a formal acknowledgment that virtual assets are a legitimate part of Pakistan&#39;s financial system. That acknowledgment carries institutional weight.&rdquo;&nbsp;The timing matters too, he noted adding that &ldquo;The Virtual Assets Act 2026 created the legal foundation; PVARA is the regulatory authority; and now the SBP has opened the banking system to PVARA licensed operators. These three pieces together mean Pakistan has moved from prohibition to a complete, functioning framework in a single legislative cycle. That is not a small thing.&rdquo;&nbsp;&ldquo;The most immediate impact is legitimacy. Exchanges operating in Pakistan have functioned in a grey zone, compliant with nothing because there was nothing to comply with. That changes now. A licensed VASP with a bank account is a regulated entity, subject to AML checks, transaction monitoring, and SBP oversight. That protects consumers and brings activity into the formal economy,&rdquo; he said, while highlighting the positive impact of the move.&nbsp;The second impact is remittances, Bilal added, noting that &ldquo;Pakistan receives over $38 billion annually from its diaspora. A meaningful share moves through informal channels because the formal ones are slow and expensive. Licensed exchanges with banking access can now offer a legal, fast, low-cost alternative. That is real money entering the documented economy.&rdquo;&nbsp;The third he mentioned is the investor confidence.&nbsp;&ldquo;Any serious crypto business evaluating Pakistan will look at banking access as a baseline requirement. We now meet that bar,&rdquo; he said.&nbsp;Authorities have moved in stages toward regulation.&nbsp;The government launched PVARA as an interim body in July 2025 before giving it statutory status through legislation this year.&nbsp;&nbsp;Use of digital assetsThe regulator has already issued no-objection certificates to some exchanges as part of a phased licensing process.&nbsp;The banking decision comes alongside broader plans to expand the use of digital assets.&nbsp; The government has already moved to bring in global crypto players, signing a memorandum of understanding with Binance in December to ⁠explore tokenising up to $2 billion in assets and granting initial clearances to Binance and HTX to begin licensing. Pilot programs using dollar-backed stablecoins for remittances are under way, and work on a central bank digital currency is in progress.&nbsp; Officials have also outlined plans to direct surplus electricity to bitcoin mining and artificial intelligence data centers. Crypto businesses in PakistanCrypto businesses in Pakistan too see this as a lifeline.&nbsp;Access to banking means they can operate more like normal companies.&nbsp; They can pay rent, hire staff with direct deposit, accept payments from customers without complicated workarounds.&nbsp;Investment could pick up.&nbsp; International crypto firms that avoided Pakistan because of the banking ban might reconsider. Local startups that struggled to raise money might find it easier to attract capital now that they can manage funds through legitimate bank accounts. But the impact won&rsquo;t be instant. Banks need time to build out their processes. VASPs need time to get their licenses in order.&nbsp; The whole ecosystem has to shake off years of operating in the shadows. Consumer trust is another factor. Pakistanis who wanted to buy crypto but felt nervous about unregulated exchanges might feel safer now.&nbsp; Banking integration adds a layer of legitimacy that was missing before. That could bring new users into the market. Infrastructure development will probably accelerate. With banking access, crypto companies can invest in better platforms, customer service, security systems.&nbsp; The ban forced them to run lean and scrappy. Now they can build something more robust. The latest move signals a shift from restriction to oversight, as authorities seek to bring a large, informal crypto market into the formal financial system without exposing banks directly to digital asset risks.

The State Bank of Pakistan (SBP) said in a circular dated April 14 that banks can open accounts for virtual asset companies licensed by the Pakistan Virtual Assets Regulatory Authority (PVARA), a body set up under the Virtual Assets Act passed in March. 

Pakistan ends crypto banking ban, opens door to regulated digital asset market

The Islamabad Talks were a breakthrough, but diplomacy takes time. US and Iran delegations were brought to the table, the ceasefire holds, and the process of building a durable peace through dialogue continues. Here is where the process stands and what comes next.

Islamabad Talks process continues — Here's how

WAGAH, Lahore: Under the clear spring sky at the Wagah border, where flags and fences mark one of South Asia&rsquo;s most sensitive frontiers, Sikh pilgrims crossed into Pakistan on Friday, greeted with flower garlands, official receptions and visible warmth as Baisakhi celebrations began. The first batch of pilgrims from India entered through Wagah, a key crossing between Pakistan and India, to take part in one of Punjab&rsquo;s most significant seasonal gatherings. Pakistan issued around 2,800 visas for the festival, with officials confirming that 2,238 pilgrims arrived, while more than 600 did not travel. They were received by senior officials including Minister for Minority Affairs Sardar Ramesh Singh Arora, Additional Secretary for Shrines Nasir Mushtaq and Lahore Commissioner Maryam Khan, alongside representatives of the Pakistan Sikh Gurdwara Parbandhak Committee. For many arriving pilgrims, the reception set the tone for their journey.&nbsp;&lsquo;Happy with your welcome&rsquo;&nbsp;&ldquo;Our revered late Guru Ji has blessed us with such grace that we received such a warm welcome here. We are very happy with your welcome,&rdquo; one pilgrim told Pakistan TV Digital. The journey from Wagah leads into the fertile plains of Punjab, where wheat fields are nearing harvest and towns carry the rhythm of an agrarian season turning. Baisakhi, rooted in this landscape, marks the harvest cycle and the beginning of a new year in Punjab&rsquo;s traditional calendar. &ldquo;We have come with devotion, and we are satisfied with the arrangements here,&rdquo; another pilgrim said. The main ceremony will take place on April 14 at Gurdwara Panja Sahib, a revered site nestled at the foothills near Hasan Abdal.&nbsp;Birthplace of Guru NanakDuring their 10-day stay, pilgrims will also travel to Nankana Sahib, the birthplace of Guru Nanak, moving across a geography that holds deep historical and cultural resonance. &ldquo;The facilities provided to us, including accommodation and food, are good,&rdquo; a third pilgrim noted. Officials say extensive arrangements have been made, including accommodation, langar, transport, and medical services to support the visitors throughout their stay. &ldquo;Everything is well managed, and we feel comfortable here,&rdquo; another pilgrim said. Additional Secretary Shrines Mushtaq confirmed that all preparations were in place and reiterated that the main ceremony would be held at Panja Sahib.&nbsp;The minority affairs minister framed the visit in broader terms, particularly in the context of strained relations following the May 2025 conflict between Pakistan and India.&nbsp;&lsquo;First home for Sikhs&rsquo;&nbsp;&ldquo;Pakistan is not a second but the first home for Sikhs,&rdquo; Arora said. &ldquo;Pakistan is the first home for Sikhs, and we will continue to welcome them.&rdquo; He added that issuing thousands of visas despite tensions reflects Pakistan&rsquo;s commitment to peace and people-to-people engagement. &ldquo;Our doors will remain open,&rdquo; he said. The minister also announced that 17 gurdwaras would become functional this year, with restoration work on 34 more sites expected to be completed within two years.&nbsp;Kartarpur Corridor&nbsp;He urged India to fully open the Kartarpur Corridor to facilitate easier access for pilgrims. Beyond India, pilgrims from Europe, Canada, Australia, and Malaysia are also expected, with special facilitation counters set up at airports across Pakistan. Leaders of Sikh groups welcomed the arrangements. Representatives from Indian gurdwara committees expressed appreciation for the hospitality and visa facilitation, describing the visit as both spiritual and cultural. &ldquo;We are thankful for the opportunity to visit and for the arrangements made,&rdquo; another pilgrim said. As the celebrations continue until April 19, the movement of pilgrims across borders and into Punjab&rsquo;s heartland reflects a seasonal rhythm that predates modern boundaries, one tied to harvests, journeys and shared spaces shaped by history and land.

Foreign Affairs

The first batch of pilgrims from India entered through Wagah, a key crossing between Pakistan and India, to take part in one of Punjab’s most significant seasonal gatherings.

Indian Sikh pilgrims arrive for Baisakhi, laud Pakistan’s warm hospitality

JERUSALEM: Israeli lawmakers on Wednesday voted to advance a bill submitted by the ruling coalition of Prime Minister Benjamin <a href="https://pakistantv.com/article/israel-pm-confirms-gaza-flotilla-interception-says-thwarting-malicious-scheme" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Netanyahu</a> which would dissolve parliament and pave the way for early elections. In a preliminary reading, 110 out of 120 lawmakers voted in favor and none against the bill, which will now pass to a committee before three more parliamentary readings. If the bill is ultimately approved it would automatically trigger elections to be held after 90 days. Polls are currently scheduled to take place by the end of the legislative term on October 27. Netanyahu is under mounting pressure from ultra-Orthodox parties, while his fractious right-wing coalition appears to be facing possible collapse. Ultra-Orthodox parties accuse Netanyahu of failing to deliver on his promise to pass legislation that would permanently <a href="https://pakistantv.com/article/thousands-of-orthodox-jews-protest-israeli-draft-changes-in-new-york" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">exempt young men</a> of their community from compulsory military service if they are studying in yeshivas, or religious seminaries. Sensing an opportunity amid the turmoil, several opposition parties announced earlier this month that they intended to introduce their own bills to dissolve the Knesset. On Wednesday coalition chairman Ofir Katz said: &quot;This coalition has completed its days. &quot;This is the only opposition that caused the coalition to grow. In this term we passed nine budgets and 520 laws,&quot; he added. The bill does not set a date for elections, which would be fixed during the committee stage.

Dozens of protesters gather in front of the Israeli Parliament (Knesset) to demonstrate against a controversial bill that proposes the death penalty for Palestinian prisoners in West Jerusalem on March 31, 2026. (AFP)

Middle East

Netanyahu is under mounting pressure from ultra-Orthodox parties, while his fractious right-wing coalition appears to be facing possible collapse.

Israeli lawmakers advance bill to dissolve parliament

Web Desk

ISLAMABAD: Pakistan&rsquo;s Senate on Wednesday unanimously adopted a resolution reaffirming the longstanding friendship and strategic partnership between Pakistan and China as the two countries mark the 75th anniversary of diplomatic relations. The resolution, titled &ldquo;Re-affirming China-Pakistan Friendship and Brotherhood,&rdquo; was presented in the Senate by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar in his capacity as Leader of the House, according to the Foreign Office. Speaking on the occasion, Dar extended heartfelt congratulations to the leadership and people of both Pakistan and China on the historic milestone, describing bilateral relations as a cornerstone of regional peace, stability and development.&nbsp; He said the ties between the two countries, anchored in mutual trust, mutual respect and shared aspirations, have continued to grow stronger over the past 75 years. The deputy prime minister reaffirmed Pakistan&rsquo;s commitment to further deepening cooperation with China across political, economic, strategic and people-to-people domains. He also highlighted the shared resolve of both countries to carry forward their &ldquo;iron-clad friendship&rdquo; for future generations.

Resolution presented before the Senate of Pakistan titled “Re-affirming China-Pakistan Friendship and Brotherhood ”commemorating the 75th anniversary. (Photo: MOFA)

Deputy Prime Minister and Foreign Minister Senator Ishaq Dar presented the resolution, 'Re-affirming China-Pakistan Friendship and Brotherhood,' in his capacity as Leader of the House.

Pakistan Senate adopts resolution reaffirming China ties on 75th anniversary

ISLAMABAD: Pakistan has formally reopened offshore oil and gas exploration after nearly 20 years, with the signing of 23 production-sharing agreements and exploration licenses for blocks awarded under the Offshore Bid Round 2025, marking a renewed push to attract investment in the country&rsquo;s offshore energy sector, according to an official statement on Wednesday.&nbsp; The awarded blocks are located in the Indus and Makran offshore basins, adjoining the territorial waters of Sindh and Balochistan. The agreements cover approximately 54,600 square kilometers of Pakistan&rsquo;s offshore area. Federal Minister for Petroleum Ali Pervaiz Malik witnessed the signing ceremony. Two offshore blocks awarded under the same bid round, Offshore Deep-C and Offshore Deep-F, had earlier been executed on December 2, 2025, with Mari Energies Limited, Turkish Petroleum Overseas Company, and Fatima Petroleum Company Limited during a ceremony held at the Prime Minister&rsquo;s Office.&nbsp; The statement said that with the signing of the remaining 21 agreements, the contractual framework for the entire 2025 portfolio is now complete. Mari Energies Limited emerged as the most active participant in the 23 offshore blocks, serving as operator on 18 blocks and as a joint venture partner on five blocks with other exploration and production companies. Oil and Gas Development Company Limited and Pakistan Petroleum Limited have each been awarded eight exploration blocks, including two blocks as operators. Prime Global Energies Limited has been awarded one block as operator. United Energy Pakistan Limited and Orient Petroleum Incorporation, alongside other joint venture partners, also participated in the signing ceremony. Collectively, the awarded blocks represent an investment of approximately $82 million during Phase I of the initial three-year license period. Total investment is projected to increase to approximately $1 billion if exploration activities progress to Phase II drilling operations. Phase I activities will involve extensive geological and geophysical studies, including seismic data acquisition, processing, and interpretation, aimed at better defining the hydrocarbon potential of Pakistan&rsquo;s offshore basins. Subject to encouraging results, Phase II will involve the drilling of exploratory wells in prospective offshore areas. The Petroleum Division intends to engage leading international oil companies in the next phase of offshore exploration, with several global energy firms already evaluating available offshore data, the statement said.&nbsp;

Agreements signed for 23 blocks in the Indus and Makran basins to attract foreign investment and boost offshore oil and gas exploration.

Pakistan reopens offshore exploration after 20 years, 23 agreements signed 

ISLAMABAD: Pakistan declared a three-day public holiday from May 26 to 28 to observe Eid-ul-Adha, according to a government notification. Eid-ul-Adha, the Festival of Sacrifice, marks the conclusion of the annual <a href="https://pakistantv.com/article/pakistan-hajj-operation-accelerates-as-thousands-of-pilgrims-arrive-in-saudi-arabia" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Hajj pilgrimage</a> to the holy city of Makkah, Saudi Arabia. The festival takes place on the 10th day of Dhul Hijjah, the final month in the Islamic lunar calendar. It commemorates Prophet Ibrahim&#39;s (Abraham) submission to God. On the festival&#39;s opening day, Muslims gather for special congregational prayers. Families engage in &quot;qurbani,&quot; the ritual slaughter of permissible (halal) livestock, including goats, sheep, cattle, and camels. The sacrificial meat is divided equally among the household, extended family and friends, and the poor. Throughout the celebration, adherents dress in new clothes, visit relatives, and greet one another with &quot;Eid Mubarak.&quot;

Pakistan's government declares a three-day public holiday for Eid-ul-Adha, with Prime Minister Shehbaz Sharif signing off on the decision

Pakistan announces three-day public holiday for Eid-ul-Adha

ISLAMABAD: The US Senate on Tuesday advanced a resolution to limit President Donald Trump&rsquo;s authority to conduct military action against Iran without congressional approval, marking the first time Democrats have cleared such a procedural vote after seven failed attempts. The joint resolution, introduced by Democratic Senator Tim Kaine and several other senators, directs the president to remove US armed forces from &quot;hostilities within or against Iran&quot; unless Congress formally authorizes military action through a declaration of war or a specific use-of-force authorization. According to the text of the resolution, lawmakers argued that Congress alone has the constitutional authority to declare war under Article I of the US Constitution and that Congress has neither declared war on Iran nor approved military force against the country. The Senate voted 50-47 to discharge the resolution from the Committee, with four Republican senators, Susan Collins, Lisa Murkowski, Rand Paul, and Bill Cassidy, joining most Democrats in backing the resolution, while Democratic Senator John Fetterman voted against it, CBS News reported. The resolution further states that military action against Iran, including the enforcement of a naval blockade, would constitute hostilities under the War Powers Resolution. However, the measure includes provisions allowing the United States to defend itself against attacks, continue intelligence-sharing with allies, and assist partner countries targeted by Iran or its proxies through defensive support, according to the resolution. Speaking before the vote, Kaine said Americans were increasingly opposed to another conflict in the Middle East. &quot;They are deeply opposed to this war,&quot; he told reporters, according to CBS News. Kaine also linked the conflict to rising economic pressure on Americans, particularly fuel prices ahead of the Memorial Day holiday travel period. &quot;We&rsquo;re coming up on Memorial Day. A lot of people do a lot of driving, they&rsquo;re going to be paying a lot for gas,&quot; Kaine said, according to CBS News. Senate Minority Leader Chuck Schumer said the vote showed growing Republican unease over the administration&rsquo;s Iran policy. &ldquo;Momentum is building to check him,&rdquo; Schumer said. The resolution still has to pass a final vote and, even then, would face major obstacles in the Republican-controlled House of Representatives, which has already rejected similar efforts, and would almost certainly be vetoed by Trump if it reached his desk, AFP reported.

US Senator Tim Kaine speaks following the Senate's vote on the War Powers resolution, at the US Capitol in Washington, DC on February 13, 2020. (Photo by MANDEL NGAN/AFP)

Americas

The Senate has approved a procedural step to limit unauthorized US hostilities against Iran. However, the resolution still has to pass a final vote in both chambers of Congress and likely presidential opposition. 

US Senate moves to restrict unauthorized hostilities against Iran

ISLAMABAD: The United Nations has warned of a growing and potentially grave threat of nuclear terrorism emerging from Afghanistan under the Taliban.&nbsp;According to a UN report, the Taliban regime has sheltered international terrorist groups to sustain its rule, allowing militant networks operating from Afghan territory to pose a serious danger to global security.&nbsp;The report raises particular alarm over 133 tablets of stolen uranium dioxide taken from Tajikistan, which could potentially be acquired by the banned al-Qaeda network in Afghanistan. &ldquo;I think the threat has never been so high as it is today,&rdquo; according to Mauro Miedico, Director of the UN Counter-Terrorism Centre (UNCCT). &ldquo;Terrorist groups and individuals engage much more strongly with new technologies. Terrorist groups have recruited experts, including AI specialists, and we have seen the use of drones in terrorist acts. This potentially makes it more possible that they will launch a dirty bomb via drone.&rdquo;&nbsp;The report notes that al‑Qaeda has repeatedly signaled intent to conduct nuclear attacks, and that incidents of smuggling and theft of radioactive material have been recorded in several countries.&nbsp;Experts cited in the report say the combination of foreign fighters, modern technology available to militant groups in Afghanistan, and the sanctuary provided by the Taliban creates a real risk of nuclear terrorism.&nbsp;The findings echo warnings previously issued by the United States, Pakistan, European states and Central Asian countries, which have repeatedly described terrorism emanating from Afghanistan as a major security threat.&nbsp;The UN has called for strengthened international cooperation, improved controls on nuclear and radiological materials across the region, and enhanced monitoring and interdiction efforts to prevent dangerous materials from reaching extremist hands.

Artillery shells have hit areas near the Zaporizhzhya Nuclear Power Plant in Ukraine since the full-scare Russian invasion of the country in 2022. (File photo: United Nations/IAEA)

Afghanistan

The report notes that al‑Qaeda has repeatedly signaled intent to conduct nuclear attacks, and that incidents of smuggling and theft of radioactive material have been recorded in several countries.

UN warns of rising nuclear terrorism risk from Afghanistan under Taliban

STRASBOURG (FRANCE): EU lawmakers and member states reached a deal in the early hours of Wednesday to implement the bloc&#39;s nearly year-old trade pact with the United States, as President Donald Trump threatened new tariffs unless the pact is implemented by July 4. The 27-nation bloc struck an accord with Washington last July, setting levies on most European goods at 15%, but to Trump&#39;s frustration, it had yet to make good on its pledge to scrap levies on most US imports in return. Negotiators from the EU&#39;s parliament and capitals wrangled late into the night, finally emerging several hours after midnight with news of an agreement to move forward. &quot;This means we will soon deliver on our part,&quot; EU chief Ursula von der Leyen said as she welcomed the agreement and called for the implementation process to be finalized quickly. &quot;Together, we can ensure stable, predictable, balanced, and mutually beneficial transatlantic trade,&quot; von der Leyen said in a social media post. The EU agreement puts the bloc on track to meet Trump&#39;s deadline for ratification of the deal sealed in Turnberry, Scotland, between Trump and von der Leyen, and hopefully turn the page on more than a year of transatlantic trade battles. Short of that, Trump had warned the European Union should expect &quot;much higher&quot; tariffs -- and had already vowed to raise duties on European cars and trucks from 15% to 25%. The tariff blitz unleashed by Trump before the Turnberry accord, including hefty levies on steel, aluminum and car parts, jolted the bloc into cultivating trade ties around the world. But the EU cannot afford to neglect the &euro;1.6-trillion ($1.9-trillion) relationship with the US, its largest trade partner. No more &#39;sunrise&#39;&nbsp;The EU parliament gave the deal a conditional green light in March, after months of delay caused by Trump&#39;s designs on Greenland and a US Supreme Court ruling striking down many of the president&#39;s tariffs. Lawmakers were under pressure to renege on several amendments that the Americans considered unacceptable -- including a suspension clause that would scrap favorable tariff conditions for US exporters should the US breach the deal. The final text empowers the European Commission to trigger the suspension mechanism if the US fails to meet its commitments or disrupts trade and investment with the EU, including by &quot;discriminating against or targeting EU economic operators.&quot; It also gives the EU means to address spikes in US imports &quot;that cause or threaten to cause serious injury to domestic producers,&quot; with suspension again a possible outcome. But parliament also agreed to scale back some demands -- and the final text notably gave the US until the end of the year to drop surtaxes above 15% on steel components, rather than insisting on it as a precondition. Another fight was over so-called &quot;sunrise&quot; and &quot;sunset&quot; clauses under which the EU side of the accord would kick in once the US makes good on its pledges, and would expire unless renewed in 2028. The sunrise clause was removed altogether, while the sunset was pushed back to the end of 2029, according to a parliament statement. The head of parliament&#39;s trade committee, Bernd Lange, faced the challenge of hammering out a common stance between different factions that haggled until the last moment. Lange played down the concessions extracted from lawmakers, declaring after the deal was announced that &quot;parliament has prevailed with its demands for a comprehensive safety net.&quot; But Anna Cavazzini of the EU&#39;s Greens was less effusive, saying the &quot;deal puts the EU at a disadvantage&quot; while conceding &quot;it can secure a certain degree of economic stability.&quot; &quot;One can only hope that the agreement on the tariff deal will now calm the situation, so that other major issues in the EU-US relationship can be addressed,&quot; she said.

Europe

EU lawmakers and member states approve progress on a major US trade pact to avoid fresh Trump tariffs and stabilize the $1.9 trillion transatlantic economic relationship after months of tensions.

EU agrees to implement US trade pact after Trump threats

SYLHET:&nbsp;Spinner Taijul Islam took six wickets to lead Bangladesh to a 78-run win over Pakistan in the second Test and clinch a famous 2-0 series win on Wednesday. Pakistan, who started the fifth day on 316-7 chasing a record 437, were bowled out for 328 in the first session in Sylhet after Mohammad Rizwan hit a valiant 94. It was Bangladesh&#39;s first Test series win at home against Pakistan and a second successive sweep after their 2-0 triumph on Pakistani soil in 2024. The win marked another major milestone for Bangladesh, who secured four successive Test series victories for the first time in their history. &quot;It&#39;s difficult to explain the emotions of that final hour because Pakistan were batting really well and we were under pressure,&quot; Bangladesh captain Najmul Hossain Shanto said. &quot;But compared to previous matches, we controlled our emotions better and avoided panic. &quot;Every player and member of the support staff contributed, and as captain I feel very proud of the team&#39;s work ethic.&quot; Wicketkeeper Rizwan kept Pakistan in the hunt for an unlikely win with a 166-ball stay after the visitors had slumped to 162-5 on day four. Rizwan put on an eighth-wicket partnership of 54 with overnight partner Sajid Khan, who made 28. Taijul broke through to dismiss Sajid for his 18th Test five-wicket haul, and pace bowler Shoriful Islam had Rizwan caught in the next over to end Pakistan&#39;s resistance. &quot;It&#39;s never good to lose games,&quot; said Pakistan skipper Shan Masood. &quot;In both matches we had significant chances, but we need to reflect on where we lost the game in batting, bowling and fielding if we want to move forward as a side.&quot; Taijul took the final wicket of Khurram Shahzad to return second-innings figures of 6-120 and trigger the Bangladesh celebrations. Taijul&#39;s four wickets on Tuesday had left Pakistan in deep trouble. Former captain Babar Azam counter-attacked with 47 before wicketkeeper Litton Das produced a stunning catch off Taijul. Captain Masood made 71, while Salman Ali Agha added 71 in a crucial 134-run sixth-wicket stand with Rizwan before Taijul broke through. Taijul, a left-arm spinner, also took 3-67 during Pakistan&#39;s first innings of 232. Litton, who was named player of the match, scored 126 in Bangladesh&#39;s first innings of 278. Veteran batsman Mushfiqur Rahim scored 137 in the second to guide Bangladesh to 390, with contributions from Mahmudul Hasan Joy (52) and Litton (69). The 39-year-old Mushfiqur was named player of the series for his 253 runs in two matches. Bangladesh won the opening Test by 104 runs.

Bangladesh's players celebrate after the dismissal of Pakistan’s Babar Azam during the fourth day of the second Test cricket match between Bangladesh and Pakistan at the Sylhet International Cricket Stadium in Sylhet on May 19, 2026. (Photo: AFP)

Cricket

With this win, Bangladesh completes a 2-0 whitewash, marking their second consecutive series win against Pakistan in red ball cricket.

Taijul takes six to lead Bangladesh to Pakistan Test series win

ISLAMABAD: Taliban authorities in southern Afghanistan&rsquo;s Kandahar province have imposed new restrictions on YouTubers and video content creators, warning them against producing and publishing videos on social media platforms, according to Afghanistan International on Wednesday. According to the report, officials from the Taliban&rsquo;s Ministry for the Propagation of Virtue and Prevention of Vice recently summoned several YouTubers and social media activists in Kandahar and ordered them to stop creating video content.&nbsp; The move has alarmed young Afghan creators who say social media platforms such as YouTube have become one of the few remaining outlets for cultural expression and employment in the country. Youtubers spoke to Afghanistan International that they made videos about the city, historical sites, markets, traditions and people&rsquo;s lives.&nbsp; They said some of the videos also focused on social issues, including harmful customs, drug addiction and illiteracy. Other creators said their content had attracted thousands, and in some cases millions, of online views, helping showcase Afghan culture and daily life to international audiences. &ldquo;YouTube was one of our main sources of income, but now that making videos has been banned, we are effectively unemployed,&rdquo; another creator said. The restrictions currently appear to apply only in Kandahar province, though creators expressed concern that the policy could expand to other parts of Afghanistan. Since returning to power in 2021, the Taliban have steadily tightened restrictions on media and public expression. Under the Taliban&#39;s morality law, the publication of images of &ldquo;living beings&rdquo; is prohibited. As part of enforcing the policy, Taliban authorities have suspended state television broadcasts and shut down or restricted several local media outlets in different provinces. International rights organizations and media advocacy groups have repeatedly condemned the Taliban&rsquo;s restrictions on images and media content, calling on the authorities to respect freedom of expression and reverse policies limiting independent journalism and digital media activity in Afghanistan.

Freedom of expression - (Photo: Wikimedia Commons)

The Taliban in Kandahar have banned YouTubers and content creators from making videos, further tightening media restrictions and threatening livelihoods and freedom of expression in Afghanistan.

Afghan Taliban tighten restrictions on youtubers and video creators in Kandahar

BEIJING: Beijing has agreed to work with Washington on reducing levies affecting tens of billions of dollars in goods, a commerce ministry statement said Wednesday, days after US President Donald Trump visited China. Under the auspices of a newly established trade council, &quot;both sides agreed in principle to discuss a framework arrangement for reciprocal tariff reductions on products of equivalent scale&quot;, covering &quot;$30 billion or more on each side&quot;, the online statement said. US President Donald Trump was in Beijing last week, where he held talks with his Chinese counterpart, Xi Jinping, over a variety of issues, especially the trade tariffs.

Asia

A statement from the Chinese Ministry of Commerce said that Beijing and Washington agreed in principle to discuss a framework arrangement for reciprocal tariff reductions on products of equivalent scale.

Articles by Faraz Saeed