Rotary Corporate Dinner Celebrates Philanthropy and Global Impact

Adistinguished Rotary Corporate Dinner was graciously hosted by Past TRF Trustee (2020-2024) and PNPPC Chair Aziz Memon in honor of Holger Knaack, Trustee Chair of The Rotary Foundation. The exclusive gathering took place in Karachi, bringing together diplomats, government officials, business leaders, bankers, media representatives, and members of the Rotary family.

The evening began with a welcome address delivered by District Governor Elect (2026–2027) Shahzad Sabir. A specially curated Rotary Foundation Video was then presented, highlighting Rotary’s global impact in transforming lives across communities. Host Aziz Memon delivered an inspiring talk on the “Art of Giving”, emphasizing the collective responsibility of individuals and institutions to serve humanity through philanthropy. This was followed by a powerful address on “The Rotary Foundation & Philanthropy” by Mike McGovern, Chair of the International PolioPlus Committee, who commended Pakistan’s unwavering commitment to polio eradication and sustainable development.

The highlight of the evening was Chief Guest Holger Knaack’s keynote speech. He expressed gratitude for Rotary’s warm hospitality in Pakistan, acknowledged the tireless efforts of local Rotarians in advancing the Rotary Foundation’s mission, and reaffirmed Rotary’s global vision of peace, health, and opportunity for all. The program concluded with a heartfelt Vote of Thanks delivered by Muhammad Faiz Kidwai, RI, Past Director (2022–2024).

First Lady & Health Minister Visit SICHN SBA

The First Lady, Bibi Aseefa Bhutto Zardari, along with Minister for Health & Population Welfare, Dr. Azra Fazal Pechuho, visited Sindh Institute of Child Health and Neonatology (SICHN), Shaheed Benazirabad Unit. They were received by Prof. Syed Jamal Raza, Executive Director SICHN, and Dr. Shahid, Chief Operating Officer SICHN, who briefed them about the state-of-the-art Neonatal Intensive Care Unit (NICU) and Pediatric Intensive Care Unit (PICU) established to provide free-of-cost, specialized care for critically ill newborns and children.

During the visit, the First Lady expressed her admiration for the efforts to improve child healthcare services in the region and emphasized the importance of providing accessible, high-quality care to every child, especially in rural and underserved areas. Dr. Azra Fazal Pechuho also highlighted the provincial government’s commitment to expanding healthcare infrastructure and ensuring that no child is deprived of medical attention due to financial constraints.

The visit ended with a tour of the hospital’s facilities, where both leaders interacted with staff and patients, showing their support for the ongoing healthcare initiatives.

Nestlé Pakistan extends 63000 liters of water to PRCS

Nestlé Pakistan extended a donation of 63,000 liters of drinking water, under the employees’ voluntary program Nestlé Cares, to support Pakistan Red Crescent Society’s (PRCS) relief efforts for flood-affected vulnerable communities.

Talking at the event, Jason Avanceña, CEO, Nestlé Pakistan, said, “Our contribution to PRCS is a result of an internal voluntary donation drive by employees under our Nestlé Care’s programme, which was matched 1:1 by the company. Staying true to our values of being a force for good, Nestlé and its employees care deeply for the communities affected by floods, and we believe we have an essential role to play during times of crisis,” he said.

“Access to clean drinking water is the biggest concern for communities displaced by flooding, and that is where we have focused the bulk of our efforts. Earlier, in collaboration with the National Disaster Management Authority and respective provincial disaster management authorities, we mobilized 320,000 liters of clean drinking water and 200,000 glasses of milk to local district administrations in Khyber-Pakhtunkhwa, Gilgit Baltistan, and Punjab,” he said.

As part of its philosophy of Creating Shared Value, ‘Nestlé Cares’, the company’s voluntary program provides the opportunity to engage and assist underprivileged communities through direct and indirect participation. Nestlé has been active in supporting and providing humanitarian assistance to vulnerable communities where needed in line with the United Nations Sustainable Development Goals of 6 and 17.

Nestlé has collaborated with PRCS over the last many years, from organizing blood donations to partnering for COVID-19 donations to flood efforts in 2022.

LRBT celebrates 40 remarkable years of service

As the world observes World Sight Day 2025, Layton Rahmatulla Benevolent Trust (LRBT) celebrates 40 remarkable years of service — four decades of restoring vision, dignity, and opportunity to those most in need of it.

Founded with a simple yet powerful mission — “that no man, woman, or child goes blind just because they cannot afford treatment” — LRBT has become one of the world’s largest free eye care providers. What began as a humble mobile unit in lower Sindh has grown into a vast network of 20 state-of-the-art hospitals and 63 clinics, covering nearly 80% of Pakistan’s population. Over the past 40 years, LRBT has treated more than 60 million patients and performed 5.9 million sight-restoring surgeries, completely free of cost.

Reflecting on this historic milestone, Najmus Saquib Hameed, Chairman of LRBT, shared his sentiments, “It is heartbreaking to see families forced to make the impossible choice between putting a meal on the table or seeking treatment for blindness. No one should ever have to make such a choice. It is beyond words to describe the relief and joy of a beneficiary who regains sight after free surgery. When someone sees again, that moment is the true measure of LRBT’s impact and the power of collective compassion.”

To commemorate World Sight Day 2025, LRBT has organized a series of activities nationwide. These include awareness campaigns through television and radio, free community screening camps, and school-based programs to educate families about the importance of regular eye check-ups, especially for children. LRBT is also using digital storytelling and media appearances to amplify the theme of this year’s World Sight Day: “Inclusive, Accessible and Equitable Eye Care for All.”

‘Islamic banking is an economic necessity’: Ishrat Husain

A book titled ‘Unconventional — The Bank No One Saw Coming’ by Sibtain Naqvi on the success story of Meezan Bank was launched in Karachi.

Delivering the keynote address, former State Bank of Pakistan (SBP) governor Dr Ishrat Husain commended the author for spending five years on putting together material for the book. Sharing the lessons that he’s learned from the bank, he said he’d divided them into three parts: (a) as a model for the banking industry; (b) as a pioneer in Islamic banking; (c) and leadership and human resource development. Dr Husain said before he joined the SBP, he was intellectually convinced that Islamic banking was not just a religious imperative, it was an economic necessity.

“Conventional banking places the entire burden on the borrower. Islamic banking, by contrast, introduces sharing, equity, and fairness. It is not merely a financial model; it is a moral framework. Islamic banking has the potential to derive financial inclusion, alleviate poverty, support small farmers, and invest in human capital… Unlike capitalism, which often leaves the marginalized behind, or socialism, which collapses under its own weight, Islamic finance offers a balanced path.”

Moving on to the leadership and human resource development aspect, he said, “Let’s not forget leadership is not a solo act, it’s a symphony. “What sets them apart is not just competence, it is conviction driven by a sense of mission, not a 9-to-5 mentality. Their commitment to embedding Islamic banking is nothing short of inspirational.” Dr Husain, in conclusion, said the bank’s journey is not just a case study; it is a blueprint of how vision, values, and execution can come together to build a successful institution and a movement.

CDA, Saudi energy giant ARAMCO explore joint ventures

The Capital Development Authority (CDA) and Saudi Arabia’s ARAMCO are considering joint ventures in Islamabad, focusing on infrastructure and investment projects to transform the capital into a modern city.

Chairman CDA and Chief Commissioner Islamabad Muhammad Ali Randhawa met with an ARAMCO delegation to discuss opportunities for collaboration. Member Planning and Design Dr. Khalid Hafiz, Member Finance Tahir Naeem, Deputy Director General Resource, and other senior CDA officials attended the meeting. Randhawa underscored CDA’s commitment to transparency and sustainable growth, noting that projects under the Joint Venture (JV) model would attract private investment and generate lasting revenue for the Authority. “All projects will be implemented per PPRA rules, ensuring transparency and merit,” he stressed.

ARAMCO representatives were briefed during the session on ongoing and planned initiatives, including citizen service upgrades and development schemes to boost economic activity. Randhawa pointed out several strategic sites have been earmarked for private sector investment, such as establishing petrol pumps across Islamabad. The meeting also reviewed progress on a proposed state-of-the-art slaughterhouse, for which feasibility has already been completed. “The primary objective is to promote meat exports while catering to local demand, thereby supporting the city’s economy and creating jobs,” Randhawa explained.

PBA hosts Saudi Delegation to Advance Strategic Investments in Pakistan

The Pakistan Banks Association (PBA), in collaboration with the Special Investment Facilitation Council (SIFC), welcomed a high-level Saudi business delegation led by His Highness Prince Mansour bin Mohammad Al Saud, Chairman of the Saudi–Pakistan Joint Business Council (SPJBC).

The visit, spanning October 7–11, 2025, aimed to strengthen bilateral trade and investment cooperation between Pakistan and the Kingdom of Saudi Arabia, in line with both countries’ shared vision for enhanced economic integration and long-term strategic partnership. The delegation comprised senior investors and business leaders representing key sectors such as investment holdings, financial services, agriculture and livestock, energy, infrastructure and construction, real estate, hospitality, and food security.

The Lahore session brought together Pakistan’s banking leadership, industrialists, and entrepreneurs for direct dialogue with the Saudi delegates. Discussions highlighted Pakistan’s comparative advantages and investment-ready opportunities across agriculture security and corporate farming, tourism and hospitality, education and healthcare, IT and artificial intelligence. Dedicated business-to-business engagements explored joint ventures and partnerships in these priority areas.

CCP clears merger of PTCL with Telenor

The Pakistan Telecommunication Company (PTCL) policy board has accepted the terms and conditions set by the Competition Commission of Pakistan (CCP) for the merger with Telenor Pakistan.

PTCL has formally submitted its acceptance of the terms and conditions for its $40 billion acquisition of Telenor. An announcement is expected soon. The move clears the path for the CCP to issue its much-anticipated order on the landmark merger, which has been pending for over 18 months. After the merger, Ufone-Telenor-Pakistan will become almost as large as Jazz, leaving Zong behind.

An official acknowledged that the merger will create a highly concentrated operator by combining PTCL’s Ufone with Telenor Pakistan, raising risks of potential dominance. The CCP had also raised concerns that PTCL’s abuse of dominance could rise after the merger. However, the CCP official added that the conditional approval framework is expected to mitigate these risks through pricing, interconnection, infrastructure sharing, and fair competition safeguards.

Pakistan to Flatten Roosevelt Hotel for Skyscraper Dreams

Pakistan is considering demolishing New York’s historic Roosevelt Hotel to pave the way for a potential skyscraper, a move linked to its commitments under the $7 billion IMF loan program.

The iconic Midtown Manhattan property, named after former U.S. President Theodore Roosevelt, has been owned by Pakistan since 2000 and is one of its most prized international assets. The 1,000-room hotel was shuttered in 2020 after financial losses and briefly reopened as a shelter for migrants. In July, Pakistan approved a joint venture model for the site, ruling out a direct sale in favor of a structure to maximize long-term returns.

Muhammad Ali, the Prime Minister’s advisor on privatization, said that the government is exploring two main options: a joint venture to redevelop the site — possibly into a skyscraper — or retaining the hotel if it’s deemed financially viable. “We’re keen on a joint venture where Pakistan provides the land and the partner brings in the equity,” Ali said. “We’ll have clarity in the coming months after finalizing the JV partner and completing market assessments.”.

Artistic Milestones of Aawaaz Project Highlighted

In August, a distinguished dinner reception was held in Karachi to recognize Professor Saeed Qureshi’s outstanding contribution to the RFPI project, a joint initiative of the English-Speaking Union of Pakistan and Queen Mary University of London. The event also served as an opportunity to acknowledge the donors and partners who have supported this important initiative.

Aziz Memon graciously hosted the dinner. Patron-in-Chief, and Pervez Madraswala, President of the English-Speaking Union of Pakistan. and brought together eminent figures from academia, culture, and business. Among the notable attendees was Syed Jawaid Iqbal, Chairman of the Board of Directors at the National Academy of Performing Arts (NAPA) and a leading figure at CMC. His presence reflected the growing recognition of the deep interconnections between education, culture, and artistic expression in Pakistan,

Afreen Seher, Artistic Director of Aawaaz Audio Theatre and Pakistan Project Lead, was warmly congratulated and appreciated for her remarkable leadership over the past two years. Under her guidance, the Aawaaz Project has flourished, creating innovative platforms for audio theatre, storytelling, and cultural dialogue. The project has been running successfully since 2023 and is now entering its final phase, culminating in November 2025.

A highlight of the evening was the presentation of a project video prepared by Afreen Seher, who also served as the Head of Theatre Arts at NAPA. The video powerfully showcased the achievements of the Aawaaz Project, highlighting its artistic milestones, collaborative initiatives, and community engagement. The audience was visibly moved as the presentation reflected the journey, challenges, and triumphs of an endeavor that has become a cultural benchmark.

P&G’s Exit Reflects Pakistan’s Worsening Business Climate

In what’s starting to feel like a corporate evacuation drill, yet another multinational giant has packed its bags and waved goodbye to Pakistan. This time, Procter & Gamble shuts down local manufacturing operations in a country of 250 million people. The official reason? Global restructuring. The unofficial translation? “We’ve had enough.”

A significant blow to the country’s business environment, the consumer goods giant’s exit is part of its global restructuring strategy. It also highlights deeper concerns about Pakistan’s growing challenges in attracting and retaining foreign investment. P&G is just one of several multinational corporations (MNCs) that have left in recent years, joining the likes of Shell, Telenor, Uber, Yamaha, Eni, and various foreign banks and pharmaceutical companies.

Although P&G has committed to continuing to serve the Pakistani market through third-party distributors, this move cannot replace the benefits of local manufacturing. The shutdown of P&G’s local production facility means job losses and reduced tax revenues, with informal trade likely filling the void. The country’s increasingly volatile economic and political landscape has left many foreign investors on edge. Pakistan’s lack of a coherent industrial policy, frequent policy changes, and inconsistent enforcement of contracts only add to the complexity.

Leadership Shake-up Sparks Concerns Over Reko Diq Project’s Future

Sudden leadership changes at Barrick Mining Corporation, as Chairman John Thornton announced the departure of CEO Mark Bristow in October and the appointment of Chief Operating Officer Mark Hill as interim chief executive, have sparked concerns in key circles. There are growing fears that the shake-up could stall momentum and delay the project’s financial closure, which is expected soon.

The Barrick Mining Corporation is the developer of Pakistan’s largest gold and copper project at Reko, holding a 50 per cent stake and management control in the Reko Diq Mining Company (RDMC).

“Losing Mr Bristow just as the project was finally gathering pace is unfortunate. RDMC had been aiming for financial close before year-end, and after extensive groundwork, things began taking shape. In Pakistan, Mark Bristow had become the face of Barrick as he had been deeply involved since the project’s inception and seen as both passionate and personally committed,” a local mining executive commented privately.

“The project’s estimated cost has nearly doubled from just over $4 billion to over $7bn, effectively shutting out local firms hoping for a stake. Even a 10 percent share now runs into hundreds of millions of dollars, far beyond what Pakistan’s private mining companies, even in consortium, can raise. Any delay could increase the cost further,” noted another local mining executive who has long lobbied for private sector participation in the lucrative mega project.

He argued that private sector participation, with its skin in the key project, could have ensured greater technical and financial transparency, something public sector functionaries lack the capacity or incentive to deliver. “From my perspective, the current assessed cost already appears inflated,” he added.

Saudis plan investments in Sindh

Saudi Arabia is poised to deepen its economic ties with Pakistan, particularly with Sindh, following the announcement of new initiatives to drive investment and foster business growth.

Prince Mansour bin Mohammad Al Saud, Chairman of the Saudi-Pakistan Joint Business Council, announced the formation of sector-specific subcommittees to enhance bilateral trade and investment during his visit in October.

The prince, leading a 30-member business delegation, met with Sindh Chief Minister Syed Murad Ali Shah at the CM House, where both sides discussed expanding economic collaboration. Viewed as a significant step in strengthening the relationship between the two countries and capitalising on Pakistan’s growing business potential, the visit reaffirmed the strong ties between Saudi Arabia and Pakistan, particularly in trade, investment, and mutual growth. Prince Mansour expressed confidence in Karachi’s business climate and highlighted the region’s potential for attracting foreign investments.

“Our business council has a long-standing history of bilateral trade,” Prince Mansour said, adding that Prime Minister Shahbaz Sharif’s recent visit to Saudi Arabia and accompanying investor delegation paved the way for further collaboration. The prince further elaborated on the interests of the Saudi delegation, stating that they represented a broad range of industries, all of which were eager to invest in Pakistan. He specifically mentioned the ongoing privatisation efforts in Pakistan, viewing them as a significant opportunity for Saudi investors.

Hutchison Ports Pakistan Welcomes the Largest Vessel at a Pakistani Port

Hutchison Ports Pakistan, the country’s only deep-water container terminal, has berthed MSC MICOL, the largest vessel in the country’s history.

The 400-meter-long container ship has a capacity of 24,070 TEUs, making it one of the most advanced vessels globally and the largest to call at a Pakistani port.

The berthing of MSC MICOL marks a significant milestone, highlighting the terminal’s capacity to handle ultra-large vessels.

Handling larger vessels enhances trade efficiency and helps reduce freight costs, supporting the country’s export competitiveness and lowering import expenses.

Maritime Minister Muhammad Junaid Anwar Chaudhry called the berthing a historic event that strengthened Pakistan’s position as a regional shipping hub.
Separately, two subsidiaries of Pakistan National Shipping Corporation — Karachi Shipping and Lahore Shipping — signed agreements to acquire two Aframax tankers, LORAX and NAFSIKA, with deadweight tonnage of 109,990 and 112,051 tonnes, respectively.

PNSC earlier approved a $193.1 million plan to expand its fleet to 30 vessels by 2026.

Bangladesh army unhappy over warrants against officers

The interim government, led by Nobel Peace Prize laureate Muhammad Yunus, has formed the commission to investigate cases of disappearances and has received around 1,700 complaints so far. Bangladesh’s International Crimes Tribunal (ICT) issued warrants for two dozen military officers over their alleged role in enforced disappearances during ousted premier Sheikh Hasina’s rule.

However, the Bangladesh army said that arrest warrants issued against senior officers had affected troop morale before elections, but pledged to uphold justice amid rising tensions. The tribunal is prosecuting former senior figures connected to Hasina’s ousted government and her now-banned Awami League party.

However, the positive response by the Bangladesh Army is welcome on the warrants issued by the ICT against 16 in-service officers recently indicted for crimes against humanity, including enforced disappearances and torture. The announcement that nearly all accused officials have been placed in custody has reassured the public and dispelled misleading social media rumors, reinforcing trust in the judicial process. These trials are crucial for delivering justice to the victims of these atrocities. This commitment must be upheld in all future actions. The international community will closely monitor the Army’s cooperation with the ICT.

Sanae Takaichi becomes Japan’s first woman PM

Hardline conservative Sanae Takaichi has been elected Japan’s first female prime minister.

An acolyte of former pri­me minister Shinzo Abe and an admirer of Britain’s Margaret Thatcher, Takaichi is expected to return to Abe-style government stimulus as she attempts to jumpstart an economy struggling with slow gro­wth and rising prices.

Takaichi takes over when Japanese politics appears more fractured than at almost any other time in recent memory, thanks in part to the rise of the smaller, hard-right Sanseito Party, which has siphoned voters away from the LDP. The LDP’s former coalition partner broke up their 26-year-old alliance this month after the LDP chose the right-wing Takaichi as new leader.

Takaichi is likely to make a sharp turn to the right on immigration and defence. In her first press conference, she promised to work tirelessly to restore Japan’s economic might, and deepen the relationship with the United States under President Donald Trump.