First-Ever Concessional Green Banking On-Lending Facility Signed

The Bank of Punjab (BOP) has successfully arranged a long-term Foreign Currency (FCY) On-lending Facility of USD 54.2 million (Credit Facility) from Agence Française de Développement (AFD). This Credit Facility is intended for onward lending to Pakistan’s climate adaptation and mitigation projects and activities. In addition to the credit facility, AFD is also providing BOP with a grant facility of EUR 675 thousand to support a technical assistance program.

This concessional Credit Facility marks the first-ever FCY facility arranged by any commercial bank specifically tied to climate financing in Pakistan. Additionally, this collaboration represents the collaboration between AFD and BOP—the only Pakistani commercial bank—making it a significant milestone for both institutions. AFD chose BOP as a partner bank following a rigorous selection process that lasted almost two years. The facility represents the first step of a long-term strategic partnership between the two institutions.

HBL wins ‘Best Conventional Bank of the Year Excellence Award’

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has awarded HBL the accolade of the ‘Best Conventional Bank of the Year Excellence Award’. The award was presented by the President of Pakistan Mr. Asif Ali Zardari to Muhammad Nassir Salim, President & CEO – HBL, at the 12th FPCCI Excellence Awards ceremony held in Islamabad on 8 October 2024.

HBL was the first commercial bank to be established in Pakistan in 1947 and one of the largest institutions in the country.

Commenting on the achievement, Muhammad Nassir Salim said, “We are deeply humbled to be recognized by FPCCI as the Best Conventional Bank of The Year. HBL is proud to serve its valued clients and play its due role in the economic development of Pakistan. This win is a tribute to the dedicated team of HBL that has earned the continued trust and confidence of HBL’s millions of clients.”

PM Shehbaz inaugurates Gwadar International Airport

Prime Minister Muhammad Shehbaz Sharif virtually inaugurated the Gwadar International Airport during Chinese Prime Minister Li Qiang’s visit, describing it as a “gift” from the allied nation.

PM Shehbaz’s Chinese counterpart arrived in Pakistan for a four-day bilateral visit. During his visit, Premier Li attended the 23rd Shanghai Cooperation Organisation (SCO) meeting of the Council of the Heads of Government (CHG), which took place on October 15 and 16 amid stringent security measures. Li’s visit to Pakistan was the first by a Chinese premier in 11 years, with the last by Li Keqiang in May 2013.

Addressing a ceremony of the newly completed airport’s virtual inauguration with the Chinese premier, PM Shehbaz said the landmark achievement was all about the time-tested friendship between the two countries. The two leaders were present to unveil the plaque of Gwadar International Airport. The ceremony was attended by members of both delegations, ministers, military leadership and senior officials.

Shehbaz expressed hope that the completion of the airport would transform Gwadar’s economy in particular and the economy of Pakistan in general. Shehbaz said the completion showed the Chinese leadership’s commitment to supporting Pakistan’s economic agenda and helping develop its backward areas.

SCO summit concluded in Islamabad

Prime Minister Shehbaz Sharif called for investing in the region’s collective capacity for connectivity as he chaired the concluding session of the 23rd Shanghai Cooperation Organi­sation (SCO) summit in Islamabad.

As the current Chair of the Council of the Heads of Government (CHG), PM Shehbaz presided over its 23rd meeting, which took place at the Jinnah Convention Centre in the federal capital.

Addressing the summit, the prime minister said the SCO connectivity framework “should not merely boost regional trade but also advance the vision of connected Eurasia.”

Ahead of the summit, PM Shehbaz welcomed the leaders of SCO member states and posed for pictures with each of them.

Bangladesh tribunal issues arrest warrant for former PM Sheikh Hasina

Bangladesh’s International Crimes Tribunal issued an arrest warrant for former Prime Minister Sheikh Hasina, currently in India, citing her alleged involvement in mass killings during violent protests that erupted earlier this year.

The protests, which began as a student-led movement against public sector job quotas, escalated into some of the deadliest unrest since the country’s independence in 1971, resulting in over 700 deaths and numerous injuries.

The violence ultimately forced Hasina to flee to India in August, and an interim government led by Nobel Peace Prize laureate Muhammad Yunus took charge.

Prosecutors requested arrest warrants for 50 individuals, including Hasina, during the tribunal’s proceedings, which were presided over by Justice Golam Mortuza Majumdar.

To date, more than 60 complaints have been filed against Hasina and other leaders of her Awami League party, alleging enforced disappearances, murder, and mass killings.

IAP Celebrates the 2024 Commonwealth Association of Architects Symposium

The Institute of Architects Pakistan (IAP) announced the successful conclusion of the 2024 Commonwealth Association of Architects (CAA) Symposium and General Assembly, held in Kigali, Rwanda. Hosted by the Rwanda Institute of Architects, the event gathered over 300 delegates from across the globe to discuss the critical theme, “Education, Policy, and Practice: Advancing the Declaration on Sustainable Urbanisation in the Commonwealth.”

The IAP celebrated notable achievements during the Gala Dinner, where 16 Pakistani students were honoured with prestigious awards. Three students—Waleed Ashfaque (COMSATS University Islamabad, Lahore), Noman Awan, and Nihal Ahmed—received regional awards, while thirteen received commendation awards. The CAA Robert Mathew Lifetime Achievement Award was presented to Pakistani architect Ar. Yasmeen Lari for her lifelong contributions to the field of architecture. Maira Khan was elected Vice President for the Asia Region, and Umar Saeed was appointed Chair of the Education Committee.

British journalist David Page dies

Dr David Page, a towering figure in South Asian journalism, passed away in London after a brief illness.

Throughout his career, he was a passionate South Asian watcher, and his interests ranged from cricket to politics in the region. In the mid-60s, he spent a year teaching at Edwardes College in Peshawar. After that, he returned to Oxford for his doctoral thesis on the partition of India and later wrote the book Prelude to Partition, published in 1982. Dr Page worked for the BBC World Service for over two decades and was directly responsible for all radio broadcasts in South Asian languages, including Urdu and Hindi.

From 1977 to 1985, he was the editor of the BBC Urdu Service and also served as the editor of the BBC’s first Pashto Service in 1981. Based on his experiences, he later wrote the book Satellites over South Asia: Broadcasting, Culture and the Public Interest. In 2015, David Page went on to work on a book on Sri Lanka’s precarious media freedom scene. He co-edited the volume, ‘Embattled Media: Democracy, Governance and Reform in Sri Lanka.’ He also served on the board of trustees of the Afghanaid, a UK-based NGO.