NBP Pledges to Accelerate Action on Gender Equality
The National Bank of Pakistan commemorated International Women’s Day by inviting Dr. Shehla Najeeb Sidiki, Dean of the Faculty of Liberal Arts and Human Sciences Ziauddin University, Karachi, and Muqaddas Abdul Rasheed, a young football player from Lyari, to a session at the NBP Head Office, Karachi.
The session was attended by female bank staff, including many senior management members. Mr. Rehmat Ali Hasnie, President and CEO of NBP, Mr. Asim Baig, Group Head HRMG NBP, and the bank’s senior leadership team were also present.
Dr. Shehla Najeeb spoke at length about her life journey, breaking biases in the professional field, and the unwavering support she received from her family. National football player Muqaddas Abdul Rasheed shared her journey of struggles and achievements in the sports field, encouraging young women to pursue their dreams with determination.
Commenting on the occasion, Mr. Rehmat Ali Hasnie, President & CEO, National Bank of Pakistan, highlighted the importance of providing a conducive environment where women can thrive professionally. He emphasized that women are integral to society and the national workforce.
Mr. Mirza Asim Baig, Group Head Human Resource Group, reiterated the bank’s commitment to promoting women’s advancement in the banking sector and increasing their inclusion within the institution. He stressed that efforts for women’s rights must continue at individual, institutional, and governmental levels.
The session concluded with a collective thought of fostering a collaborative work environment and promoting gender partnership through equity and inclusion within workplaces across Pakistan.
Karachi, Dhaka to receive 5.4m climate migrants by 2050: UN
Karachi and Dhaka will be the only two cities in the Asia-Pacific region among the 10 cities of the Global South that will receive eight million climate migrants by 2050 if the world warms by more than 1.5 centigrade above pre-industrial levels, a UN study finds.
Of those 10 cities, Karachi and Dhaka are projected to receive the most extreme influx of climate-induced migration: 3.07 million additional people in Dhaka and 2.4 million additional people in Karachi, according to the “Urban Transformation in Asia and the Pacific: From Growth to Resilience” report, published by the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP).
The report is part of the agenda of the 81st annual session of the UN-ESCAP, opening in Bangkok next month. It analyses both challenges and opportunities facing cities and towns across the region, home to the full spectrum of human settlements, from the world’s largest metropolises to ancient villages and every size of city and town in between.
Pakistan to legalise crypto
Bilal Bin Saqib, the chief adviser to the finance minister of the Pakistan Crypto Council, said that the country planned to legalise cryptocurrency to lure international investment in Pakistan, Bloomberg reported.
In an interview with Bloomberg, Saqib said Pakistan aimed to create “a clear regulatory framework for governing digital-asset activities to boost the local ecosystem”. “Pakistan is done sitting on the sidelines,” he said, adding that they wanted to attract international investment because the country was a “low-cost high-growth market with 60 per cent of the population under 30.
“We have a Web3 native workforce ready to build,” he said.
On February 25, the finance ministry announced it was considering “establishing a National Crypto Council” to adopt emerging digital currencies in line with global trends, appointing Bilal bin Saqib as the chief adviser to the finance minister on the council. The crypto council is designed to oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves securely, compliantly, and sustainably. The council will also collaborate with friendly countries to develop standardised international digital economic engagement frameworks. Saqib said, “Trump is making crypto a national priority, and every country, including Pakistan, will have to follow suit.”
Foreign loan inflows fall by a quarter
Pakistan has received almost $12bn foreign loans in the first eight months (July-February) of 2024-25, aiming to cross the $19.2bn target by June 30.
While half of this portfolio consisted of legacy rollovers from China, Saudi Arabia, and the United Arab Emirates, fresh loan and grant inflows amounted to $5.95bn in eight months, almost 25 percent lower than the comparable period of last fiscal year.
In its monthly report on Foreign Economic Assistance (FEA), the Economic Affairs Division (EAD) said that against its annual target of $19.4bn (including grants), total FEA in 8MFY25 amounted to $4.953bn, compared to $6.678bn in the same period last year, when the annual target was $17.6bn. This does not include about $1bn disbursed by the IMF in October 2024 as an upfront payment under the $7bn ongoing EFF that is accounted for separately by the State Bank of Pakistan. However, $1.2 billion was received a year back under the Standby Arrangement (SBA), which had also seen similar accounting treatment.
With three rollovers and fresh disbursements, the total external assistance in eight months amounted to $11.95bn. This included $3bn rollovers by Saudi Arabia, $2bn by UAE, and $1bn by China. This does not include another $2bn China rolled over earlier this month, making its total rollovers $3bn thus far.
Govt borrows less than half of target in T-bill auction
Despite strong interest from banks, the government borrowed less than half of its target in the latest auction of short-term treasury bills (T-bills).
The State Bank of Pakistan (SBP) reported that the government raised Rs392 billion against a target of Rs800bn, marking yet another instance in the current fiscal year where borrowing remained below the set target and the maturing amount. Since the beginning of the current fiscal year (FY25), the government has consistently borrowed less than the maturing amount of T-bills, indicating a shift away from accumulating short-term debt. However, long-term borrowing has been on the rise.
In a recent T-Bill auction, Rs1.575 trillion was involved, and the government raised Rs392bn, as against the target of Rs800bn and a maturity of Rs513bn. The auction saw no change in cut-off yields except for 12-month bills, where rates increased by 26 basis points.
Pakistan, Saudi Arabia pledge to strengthen defence ties
Pakistan and Saudi Arabia reaffirmed their commitment to strengthening defence and security cooperation and recognising the importance of collaborative efforts in addressing regional security challenges.
Prime Minister Shehbaz Sharif arrived in Jeddah in March for a four-day official visit to talk with the Saudi leadership on strengthening cooperation in various economic sectors. In a bilateral meeting in Jeddah, Saudi Crown Prince Mohammed bin Salman (MBS) and PM Shehbaz discussed bilateral ties and cooperation between the two countries. In a post on social media platform X, PM Shehbaz wrote: “Honoured to meet His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud in Jeddah today. We had a most productive discussion on ways to further strengthen Pakistan-Saudi Arabia ties in trade, investment, energy, and security. Thanked His Royal Highness for the Kingdom’s consistent support to Pakistan.
“Our enduring friendship and shared vision for prosperity is taking our bilateral relations to new heights and transforming it into a mutually beneficial economic partnership,” he continued. “Lauded the pivotal role played by His Royal Highness and the Kingdom in efforts to bring peace in the Middle East and in Ukraine.”
The high-level delegation accompanying the premier includes Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of Army Staff General Asim Munir, Punjab Chief Minister Maryam Nawaz, federal ministers, and senior officials.
Violence erupts in Nagpur over demands to demolish Emperor Aurangzeb’s tomb
Authorities clamped an indefinite curfew on parts of the Indian city of Nagpur after more than a dozen police officers were hurt in clashes sparked by a Hindu group’s demand for the removal of the tomb of 17th-century Mughal ruler Aurangzeb.
Recent violence in the central Indian city damaged many vehicles and injured several people, among them at least 15 police personnel, one of whom was in serious condition, a police officer said, speaking on condition of anonymity.
Police said in a statement that members of the group, the Vishva Hindu Parishad (VHP), burnt an effigy of Emperor Aurangzeb and his tomb as they chanted slogans demanding its removal from the nearby city of Aurangabad. The police officer told Reuters the situation escalated after several members of Muslim groups marched near a police station and threw stones at police. The attackers, wearing masks to hide their faces, carried sharp weapons and bottles, a resident of the area told the ANI news agency, in which Reuters has a minority stake.
The VHP denied accusations of engaging in violence. Its general secretary, Milind Parande, said in a video message that it wants the tomb to be replaced with a memorial for rulers from the local Maratha community. Nagpur is also the headquarters of the Rashtriya Swayamsevak Sangh (RSS), the ideological parent of Prime Minister Narendra Modi’s Bharatiya Janata Party. The VHP belongs to the same family of organisations.
US seeks to deport pro-Palestinian Georgetown University academic
US President Donald Trump’s administration has detained an Indian man studying at Washington’s Georgetown University and is seeking to deport him after deeming him harmful to US foreign policy, the student’s lawyer said.
The US Department of Homeland Security accused Badar Khan Suri of ties to Hamas and said he had spread the group’s propaganda and anti-Semitism on social media, according to a statement it shared with Fox News.
The DHS statement to Fox News, which was reposted by White House Deputy Chief of Staff Stephen Miller, did not cite evidence. It said Secretary of State Marco Rubio determined that Suri’s activities “rendered him deportable.”
Suri — who is living in the US on a student visa and is married to an American citizen — has been detained in Alexandria, Louisiana, and is awaiting a court date in immigration court, his lawyer said.
Federal agents arrested him outside his home in Rosslyn, Virginia.
The case comes as Trump seeks to deport foreigners who took part in pro-Palestinian protests against Israel’s offensive in Gaza following an October 2023 Hamas attack.
Trump’s measures have sparked an outcry from civil rights and immigrant advocacy groups who accuse his administration of unfairly targeting political critics.
Maya Ali looks for the ‘right person’
Actress Maya Ali has opened up about how she copes with the constant pressure to get married.
In a recent appearance on Nida Yasir’s Ramazan talk show Shan-e-Suhoor, the actor candidly shared how her parents often bring up her relationship status, gently nudging her toward marriage.
“In every namaz, my mother prays that I get married,” Ali said with a smile. “But it’s so difficult to explain to our elders that you can’t just get married for the sake of it.”
While assuring everyone that she’s not against the idea of marriage, Ali said she firmly believes it will happen when the time is right. “When the right person comes into your life at the right time, it’ll be effortless.”
Bangladesh govt rejects demands for ban on Hasina’s party
Bangladesh’s interim government says it has no plans to ban the political party of ousted premier Sheikh Hasina, putting it at odds with the student revolutionaries who overthrew her in an uprising last year.
Hasina’s Awami League was accused of extensive human rights abuses during her 15-year tenure, including a violent crackdown on last year’s protest movement that killed more than 800 people.
Student leaders still grieving the deaths of their comrades have demanded the party be outlawed. But Nobel laureate Muhammad Yunus, the de facto leader of the caretaker government that took office after her toppling, said it had no intention of doing so.
“Professor Yunus stated that the interim government has no plans to ban the party,” said a government statement issued late Thursday. “However, individuals within its leadership who are accused of crimes, including murder and crimes against humanity, will be tried in Bangladesh’s courts.”
A tribunal in Dhaka has already issued arrest warrants for Hasina, who took refuge in India after her toppling, and her allies.
NA security moot urges unified political role to fight terrorism
In a high-level meeting, participants stressed the need for consensus and unified poli tical commitment to combat terrorism with the “full force of the state.” The in-camera meeting of the Parliamentary Committee on National Security came amid recent heightened attacks on security personnel and other law enforcement agencies, particularly in Khyber Pakhtunkhwa and Balochistan.
The country’s top civilian and military leaders assembled at Parliament House this afternoon to discuss measures to curb terrorism. A statement issued after the meeting said the committee members condemned the recent terror acts in the strongest terms, expressed solidarity with the victims’ families, and reiterated the country’s unwavering resolve to eliminate terrorism in all its forms and manifestations while lauding the valour and professionalism of security forces and law enforcement agencies in conducting their counter-terrorism operations.
“The committee stressed the need for a national consensus to repel terrorism, emphasising strategic and unified political commitment to confront this menace with the full might of the state,” the statement reads. The committee members stressed the need for immediate implementation of the National Action Plan and Operation Azm-i-Istehkam to dismantle terrorist networks, counter logistical support, and dismantle the nexus between terrorism and crime. They also expressed concern over terrorist groups’ increasing use of social media platforms to spread propaganda, recruit followers, and coordinate their networks. The committee members recommended measures to curb such use of social media and called for formulating a mechanism to counter terrorist activities.
Pakistan’s showbiz is a community, not an industry: Zara
Actor Zara Noor Abbas has said that Pakistan’s entertainment sector is not developed enough to be classified as an industry and should be considered a small community where a handful of people drive the entire business.
Speaking on a private TV channel’s Ramadan transmission, Zara pointed out the lack of proper recognition for supporting crew members, arguing that a true industry acknowledges the contributions of all professionals, from graphic artists to cameramen.
“Rather than an industry, it is more like a community where a few people come together to make dramas,” she said. “An industry is one where every creative professional is respected, recognised, and nominated for awards. That does not happen here.”
Zara, however, maintained that while progress has been made, the structural shortcomings still prevent Pakistan’s entertainment sector from reaching the level of a full-fledged industry. She pointed out that while creative talent is abundant, the opportunities remain limited to a select few.
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