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Dawn - 04:41 Dec 28, 2025
KARACHI: Nearly 17 days have passed since the Karachi Cotton Exchange (KCE) was shut, raising serious concerns under a government that claims to promote business, economic growth and an export target of $60 billion. The unexpected move by the Evacuee Property Trust Board (EPTB) to take over the KCE premises has forced the closure of an institution that had remained operational for 52 years, affecting around 320 registered cotton brokers. Brokers say they are incurring losses running into billions of rupees due to the complete halt in trading, while the textile industry, particularly spinning mills, is struggling to obtain working capital from banks because cotton rates are unavailable. No cotton spot rates have been issued since the EPTB took possession of the building on Dec 12. The cotton and cotton-based textile sector contributes about 60 per cent to the country’s export earnings and provides up to 70 per cent of direct and indirect employment nationwide. “I do not understand why the federal government an... -
Dawn - 04:16 Dec 28, 2025
• Experts say exchange rate still ‘managed’, warn pressures may return in 2026 • Insist PKR’s path shaped by politics, financing, oil and not just valuation models KARACHI: The first half of the current fiscal year saw the rupee post a net gain against the US dollar of Rs5.066, or 1.8 per cent, although it remains weaker than its level at the beginning of 2025. The dollar closed at Rs280.13 in the interbank market on Friday compared to Rs285.22 on July 2, 2025. However, the rupee is still below its level on Jan 3, 2025, when the dollar traded at Rs278.56. Currency market participants said the exchange rate remained “managed” but noted that the recent appreciation had helped stabilise the market and provided greater confidence for exporters and importers. In a report issued on Saturday, Tresmark CEO Faisal Mamsa said the rupee’s behaviour often defies traditional valuation models because it moves in “regime shifts”, not smooth cycles. “This history explains why models such as PPP, BEER or even simplified REER ... -
Dawn - 03:56 Dec 28, 2025
• Warns provincial govt against implementing ‘illegal aspirations of land mafias’ • Calls legislation unconstitutional, in conflict with CPC, CrPC, Evidence Act, other laws ISLAMABAD: The Pakistan Bar Council (PBC) on Saturday went beyond mere condemnation of the recently promulgated Punjab Protection of Ownership of Immovable Property Act, 2025, cautioning the Punjab government against implementing what it described as the “unlawful aspirations of land mafias”. Presided over by Vice Chairman Chaudhry Tahir Nasrullah Warraich, the outgoing PBC cabinet unanimously demanded that the Punjab government immediately recall the law and tender an apology to the Lahore High Court (LHC) for what it termed “insulting remarks and a rude attitude”. The PBC — the apex body regulating the legal fraternity — reiterated that lawyers stand firmly with the LHC and will not allow anyone to compromise the integrity of the judiciary. The council warned that if corrective measures were not taken within a few days, the lawyer’s comm... -
Dawn - 03:14 Dec 28, 2025
RAWALPINDI: The Pakistan Meteorological Department (PMD) has forecast rain and thunderstorms, with snowfall over the hills, in most parts of the country during the coming week. It said fog is likely to subside in central and southern Punjab and upper Sindh during the wet spell, while daytime temperatures are expected to drop further, particularly after the system passes. The PMD said a westerly wave is likely to approach western parts of the country from the night of Dec 29 and strengthen from Dec 30. The system is expected to affect most upper and central parts on Dec 31 and persist in upper areas until the morning of Jan 2. In Punjab and Islamabad, rain, wind and thunderstorms, with snowfall, are likely in Murree and the Galiyat from the evening/night of Dec 30 to the morning of Jan 2, with occasional gaps. Isolated rain, wind and thunderstorms are expected in Islamabad/Rawalpindi, the Potohar region, Sargodha, Faisalabad, Mandi Bahauddin, Sialkot, Narowal, Lahore, Sheikhupura and Gujrat from Dec 31 to Jan ... -
Dawn - 02:43 Dec 28, 2025
• Trump-Munir meeting reshapes diplomatic tone • Analysts caution against jumping to conclusions as ties rely on ‘personal relationship’ THE year 2025 will be remembered in Islamabad and Washington as a period of surprising warmth in bilateral ties, marked by high-level engagement, strategic recalibrations, and complex regional developments. After years of drift, Pakistan-US relations saw a notable thaw, but beneath the optimism lies a layered and complex reality shaped by history, personalities, and shifting global alignments — prompting analysts to urge restraint in reading the moment as a lasting reset. The year’s diplomacy pivoted with an unprecedented White House meeting between President Donald Trump and Pakistan’s army chief, Field Marshal Syed Asim Munir, widely viewed as a game-changer. The meeting set the tone for renewed engagement and discussions on trade, security, and regional diplomacy. Sherry Rehman, federal minister and former ambassador to Washington, described the shift as personality-driv... -
Dawn - 00:06 Dec 28, 2025
Humour me for a second: despite its big, flashy, expensive exterior, I believe Avatar: Fire and Ash to be the perfect Christmas family movie — kind of like the first Die Hard, another fun Christmas family movie. Strip away the action, and Avatar is about overcoming odds, keeping the family together, forgiveness and redemption, with a little bit of unexpected magic near the climax. Isn’t that exactly what a Christmas movie is all about? In Fire and Ash, the magic comes courtesy of Eywa, the spirit of the alien planet Pandora that resides in everything and commands the wildlife. One connects to Eywa through tendril-like organic connections called “queues” at the end of Na’vi hair, which provide neural links to control animals and access the spirit realm, where souls of every dead person on Pandora reside (after their bodies are absorbed into Eywa’s soil). A happy family reunion of glowing auras, warmth and forgiveness with those who’ve passed away occurs early and late in the movie — but a good three hours befo... -
Dawn - 00:06 Dec 28, 2025
Mian Manzoor Ahmed Wattoo, a former chief minister of Punjab and one of Pakistan’s most durable political survivors, passed away on December 16, 2025, at the age of 86. His death marks the passing of a particular species of politician — less ideological than instinctive, less rhetorical than tactical — who thrived in the interstices of power rather than at its commanding heights. Wattoo was never the face of a movement, nor the author of a grand political vision. Yet, for decades, he remained relevant in Punjab, Pakistan’s most populous and politically decisive province, precisely because he understood how power there actually worked. He belonged to a generation shaped by instability. Born in Okara district, in the fertile plains of central Punjab, Wattoo came of age in a Pakistan where democracy was episodic and political loyalty was often provisional. Coups, dissolutions of assemblies and abrupt changes of regime were not aberrations but recurring features of national life. In such a setting, political surv... -
Dawn - 00:06 Dec 28, 2025
Want to be on the ball and go into 2026 knowing exactly what's cool, what's trending and what to avoid? Eos off ers its annual cheat sheet... Published in Dawn, EOS, December 28th, 2025 -
Dawn - 00:06 Dec 28, 2025
Mirabai and Ghalib stamps, mentioned in Adeeb’s 1952 letter, that are part of the ‘Indian Saints and Poets’ series | Photos from the writer's collection In a letter dated November 22, 1952, Professor Syed Masood Hasan Rizvi Adeeb of Lucknow writes to Allama Syed Murtaza Hussain Fazil Lakhnawi, “Yesterday, I sent you a registered letter in your name. It bears two postage stamps, one with Ghalib’s portrait and the other with Mirabai’s. The postmark has been placed in such a way that Ghalib’s picture has not been marred. Since you collect everything related to Ghalib, you should keep this stamp safe as well.” This very stamp and the letter are still preserved in good condition. A faded Lahore post office mark on this stamp reads as “…53, Lahore”, indicating its arrival in Lahore in January 1953. Fazil Lakhnawi, the editor of centenary editions of Ghalib’s collected works in Persian, Urdu-i-Mu’alla and Oud-i-Hindi, was an avid admirer of Ghalib and had a large collection centred around the poet, consisting of the... -
Dawn - 00:06 Dec 28, 2025
Respected Auntie, I am a gazetted officer in a well-reputed public sector organisation, where the source of income is limited to the salary. A few months ago, I started a part-time business venture, which was unsuccessful and I suffered losses. Because of that, I have been facing a hard time economically for the past few weeks. My father-in-law (also my elder paternal uncle) left behind a hefty agricultural land and a commercial property to his spouse and children. Following his death in 2017, I was married to his only daughter in 2019. Despite the passage of almost seven years, not even a single penny was transferred to my wife. I have four brothers-in-law, and my father-in-law considered his daughter equal to his son and declared that they would equally share the inheritance. But after his death, things have changed altogether. Two of my brothers-in-law have shifted abroad, using the resources of their father, while one has been given a separate home from the family one. The fourth one is living and enjoyin... -
Dawn - 00:04 Dec 28, 2025
ISLAMABAD: Italy has offered more than 10,000 jobs to Pakistani workers over the next three years. According to an agreement reached between the two countries, Italy has allocated a labour quota for Pakistan. As many as 10,500 Pakistani workers will be provided employment in various sectors, including ship breaking, hospitality, healthcare and agriculture, as well as welding, technician roles, chefs, waiters, housekeeping, nursing, medical technicians and farming. Skilled and semi-skilled job aspirants will travel to Italy for employment in these sectors. Each year, 3,500 Pakistani workers will secure overseas jobs under seasonal and non-seasonal quotas. This includes 1,500 Pakistanis under the seasonal quota and 2,000 under the non-seasonal quota annually. Italy is the first European country to allocate job quotas specifically for Pakistan. The second meeting of the Pakistan-Italy Joint Working Group will be held in Islamabad in February 2026. Published in Dawn, December 28th, 2025 -
Dawn - 18:43 Dec 27, 2025
Russia attacked Kyiv and other parts of Ukraine with hundreds of missiles and drones on Saturday, ahead of what President Volodymyr Zelenskiy said would be a crucial meeting with US President Donald Trump to work out a plan to end nearly four years of war. Zelenskiy cast the vast overnight attack, which he said involved about 500 drones and 40 missiles and which knocked out power and heat in parts of the capital, as Russia’s response to the ongoing peace efforts brokered by Washington. The Ukrainian leader has said Sunday’s talks in Florida would focus on security guarantees and territorial control once fighting ends in Europe’s deadliest conflict since World War Two, started by Russia’s 2022 invasion of its smaller neighbour. The attack continued throughout the morning, with a nearly 10-hour air raid alert for the capital. Authorities said two people were killed in Kyiv and the surrounding region, while at least 46 people were wounded, including two children. “Today, Russia demonstrated how it responds to pe... -
Dawn - 18:11 Dec 27, 2025
Politicians and colleagues paid homage to Dr Shamshad Akhtar on Saturday as a trailblazer, noting that she was the first woman to serve as governor of the State Bank of Pakistan (SBP) and achieved many other notable accomplishments. She passed away today due to cardiac arrest. At the time of her passing, Dr Akhtar was serving as chairperson of the Pakistan Stock Exchange (PSE), a rare position reflecting a career that spanned Pakistan’s monetary policy, fiscal management, and capital markets. Dr Akhtar, known for her leadership roles in both national and international financial institutions, took over as the 14th governor of the SBP on January 2, 2006, becoming the first woman to hold the position. She had also been the finance minister in the caretaker setups before the 2018 and 2024 general elections. Dr Akhtar served as the vice president of the World Bank for the Middle East and North Africa and the executive secretary of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). ... -
Dawn - 17:58 Dec 27, 2025
LAHORE: Khyber Pakhtunkhwa Chief Minister Sohail Afridi cast doubt on the government’s sincerity in holding talks with the PTI and said he was actively making efforts to initiate the party’s street movement by reaching out to multiple stakeholders. Accompanied by PTI Secretary General Salman Akram Raja and other leaders on the second day of his three-day visit to Lahore, the KP chief minister spoke to the media on two occasions while visiting the residences of incarcerated party leaders Shah Mahmood Qureshi, Dr Yasmin Rashid, Ejaz Chaudhry, and Mian Mahmoodur Rasheed. Answering a question about the prospects of dialogue with the government in the wake of Prime Minister Shehbaz Sharif’s offer, the KP chief minister said: “Incumbent rulers are showing no sign of dialogue and instead are displaying their dictatorship mindset, which was inculcated in their minds since they began politics.” Asked whether he believed issues with the federal government could be resolved through talks, CM Afridi said Imran Khan had a... -
Dawn - 17:22 Dec 27, 2025
The Pakistan Tehreek-i-Insaf (PTI) on Saturday distanced itself from “provocative” remarks by a protester during a demonstration in the British city of Bradford, as the party continues to face backlash from the government and other quarters. In the video posted on PTI’s UK page and since deleted, a woman appears to be wishing ill on a person without taking any name, saying that they should be “blown up in a car”. The woman can be seen surrounded by people holding PTI flags. Pakistan also issued a demarche to the acting British high commissioner, demanding action against all those involved. “The demarche was issued after provocative statements were made against Pakistan’s civil and military leadership from British soil,” the FO spokesperson said. He urged the UK to “hold responsible elements accountable in accordance with the law”. In a strongly-worded statement on Saturday, PTI Central Information Secretary Sheikh Waqas Akram stated that the speech delivered by the demonstrator in the UK has “no connection” w... -
Dawn - 17:21 Dec 27, 2025
PPP Chairman Bilawal Bhutto-Zardari on Saturday urged giving the provinces a greater role in areas such as tax collection to help address the federal government’s financial issues. The Bhutto scion was addressing the death anniversary programme for his mother, former prime minister Benazir Bhutto, in Garhi Khuda Bakhsh. Benazir was assassinated in a gun-and-bomb attack near Rawalpindi’s Liaquat Bagh on December 27, 2007, after a public gathering. The Sindh government announced a public holiday today to commemorate Benazir’s death anniversary. Foolproof security for the VVIPs, VIPs, and general public was ensured in Larkana, with over 8,500 police officers and personnel, alongside Rangers and other security agencies, deployed at and around Bhutto’s mausoleum in Garhi Khuda Bakhsh. Speaking at the event, Bilawal said the PPP was a federal party that conducted politics at both the national and provincial levels with sincerity, treating the Centre’s problems as its own. “If there is an issue of fiscal space for t... -
Dawn - 15:55 Dec 27, 2025
Israeli Prime Minister Benjamin Netanyahu will depart for the United States on Sunday and meet with President Donald Trump in Florida a day later, an Israeli official told AFP. It will be Netanyahu’s fifth visit to see Trump in the United States this year. His trip comes as the Trump administration and regional mediators push to proceed to the second stage of the ceasefire between Israel and Hamas in the Gaza Strip. Trump told reporters in mid-December that Netanyahu would probably visit him in Florida during the Christmas holidays. “He would like to see me. We haven’t set it up formally, but he’d like to see me,” Trump said before leaving for his Mar-a-Lago resort. Israel’s Yedioth Ahronoth newspaper reported on Wednesday that a wide range of regional issues was expected to be discussed, including Iran, talks on an Israel-Syria security agreement, the ceasefire with Hezbollah in Lebanon and the next stages of the Gaza deal. Progress in moving to the second phase of October’s Gaza ceasefire agreement, which w... -
Dawn - 15:52 Dec 27, 2025
Renowned economist and former State Bank of Pakistan (SBP) governor Dr Shamshad Akhtar, 71, passed away due to cardiac arrest on Saturday. She was serving as chairperson of the Pakistan Stock Exchange at the time of her death, giving her a rare role spanning Pakistan’s monetary policy, fiscal management and capital markets. Akhtar, known for her leadership roles in both national and international financial institutions, took over as the 14th governor of the SBP on January 2, 2006, becoming the first woman to hold the position. She had also been the finance minister in the caretaker setups before the 2018 and 2024 general elections. Akhtar also served as the vice president of the World Bank for the Middle East and North Africa and the executive secretary of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). Prior to her appointment as SBP governor, Akhtar served as the director general of the Asian Development Bank’s (ADB) Southeast Asia Department since January 2004. She also ... -
Dawn - 15:19 Dec 27, 2025
LAHORE: The Pakistan Cricket Board on Saturday announced that it has approved 10 bidders after completing the technical evaluation of the proposals for the sale of two new franchises of the Pakistan Super League. The auction for the two teams is slated for Jan 8 in Islamabad and comes after the PCB, which had received 12 proposals, had earlier said that investors from the United States, Australia, Canada, the United Arab Emirates and Pakistan expressed their interest in acquiring the franchises up for sale. “A total of 12 proposals were received from interested parties within the stipulated deadline from across the globe and were scrutinised by the PCB Bid Committee over the last three days,” PCB said in a statement. “Following a thorough and transparent evaluation process, the PCB Bid Committee has qualified 10 bidders who have successfully met the technical criteria and now enter the second stage. “These 10 technically qualified bidders will now proceed to participate in the auction scheduled on Thursday, 8... -
Dawn - 13:19 Dec 27, 2025
Pakistan rejects attempts to ‘undermine Somalia’s sovereignty’ after Israel’s Somaliland recognition
Pakistan on Saturday rejected Israel‘s recognition of the self-declared Republic of Somaliland, terming it an attempt to undermine Somalia’s sovereignty. Israel became the first country to formally recognise Somaliland as an independent and sovereign state on Friday, with Somaliland’s president, Abdirahman Mohamed Abdullahi, saying his state will join the Abraham Accords. The decision could reshape regional dynamics and test Somalia’s longstanding opposition to secession. “Pakistan strongly condemns any attempts to undermine the sovereignty, unity, and territorial integrity of Somalia, and rejects, in this regard, the announcement made by Israel recognising the independence of the so-called Somaliland region of the Federal Republic of Somalia,” the Foreign Office (FO) said in a statement. “Such illegal and provocative actions constitute a flagrant violation of international law and not only threaten the peace and stability of the brotherly country of Somalia, but also that of the entire region,” it added. Isl...
6698 items