The Dalian Commodity Exchange could list the sulphur futures contracts in the fourth quarter of this year, although the timeframe is not finalised and more approvals are needed, two sources familiar with the matter said, asking not to be identified as the plan is not public and they are not authorised to speak to media.

The Dalian exchange did not answer multiple calls for comment.

The China Securities Regulatory Commission, which typically grants approval to exchanges for the launch of futures contracts for a new product, did not immediately respond to a request for comment.

The exchange has long planned to introduce the contracts, but work has accelerated since the Iran war exacerbated price volatility and underscored the need for a hedging tool, said one of the sources.

China, the world’s largest consumer of sulphur, imports about 50 percent of its supply each year. Imports in the first five months more than halved versus the year before, customs data showed.

Sulphur is used to make fertilisers and in copper mining and nickel refining, as well as for applications in other industries. Sulphur prices had already been rising for years before the Iran war turbocharged matters because about half the world’s seaborne supply flows through the Strait of Hormuz.

In a statement, the prime minister said the transaction marked the start of a “new chapter” for the state-owned national carrier, adding that the entry of private investment would help modernise and strengthen PIA after years of financial strain and operational decline.

He said the government viewed the deal as a key step in restoring confidence among investors, arguing that structural reforms and privatisation efforts were essential to stabilising the wider economy and improving governance in loss-making state enterprises.

“Alhamdulillah, today marks another important milestone in Pakistan’s economic reform journey,” the prime minister said, describing the development as a turning point in the government’s broader reform agenda.

The prime minister said the transformational investment associated with the transaction would support efforts to overhaul the airline’s operations, improve efficiency and rebuild its competitiveness in the aviation sector.

He added that the reforms were aimed at placing PIA on a “sustainable footing” while signalling to international and domestic investors that Pakistan remained committed to economic restructuring.

The prime minister praised senior officials and institutions involved in finalising the deal, commending Deputy Prime Minister and Foreign Minister Ishaq Dar, and paying tribute to Chief of Defence Forces (CDF) and Field Marshal Asim Munir, along with his team, for their role in supporting the process.

He also acknowledged the contribution of Adviser to the Prime Minister on Privatisation Muhammad Ali, Finance Minister Muhammad Aurangzeb, the Privatisation Commission, and other officials involved in completing what he described as a landmark transaction.

The government has in recent months accelerated efforts to sell or restructure loss-making state entities as part of a wider reform programme supported by international lenders.

Officials say the privatisation of PIA is intended to reduce fiscal pressure on the state while improving service delivery and operational performance.

PM Shehbaz said his administration would continue to pursue “bold reforms” aimed at strengthening the economy, creating jobs and securing long-term prosperity for Pakistan.

The control of PIA was transferred to a consortium led by Arif Habib Corporation Ltd after completion of the first financial closing and fulfillment of all conditions under the Share Purchase and Subscription Agreement.

Copyright Business Recorder, 2026

A three-member ECP bench, headed by Chief Election Commissioner Sikandar Sultan Raja, and comprising Nisar Ahmed Durrani and Shah Muhammad Jatoi, is hearing this case.

On April 21 this year, in an allegedly controversial move, the Election Commission of Pakistan (ECP) postponed the by-election on the said Senate seat on an application moved by a Pakistan Muslim League Nawaz (PML-N) lawmaker, only two days before the said by-poll was scheduled on April 23.

“The matter requires detailed discussion and assistance, therefore, the office is directed to issue notices to all the contesting candidates and necessary parties for appearance and assistance on the question of law raised by the applicant,” read a written order issued by the ECP bench on April 21 after hearing an application moved by Jalal Khan, the Member Provincial Assembly (MPA), Khyber Pakhtunkhwa, who belongs to PML-N.

During the hearing of the case, the petitioner, along with his counsel, appeared before the ECP bench to argue that the electoral body’s decision to declare as vacant the aforementioned Senate was not legally valid keeping in view that Saeed had not taken oath as a senator from the said seat in the first place.

“In the present case, no lawful vacancy has ever existed because Murad Saeed never took oath, nor entered upon office, therefore, he never became a member of the Senate in the constitutional sense,” argued the counsel.

The ECP bench accepted the petition, and the matter is since pending.

It is worth mentioning here that Pakistan Tehreek-e-Insaf (PTI) fielded Irfan Saleem for the April 23rd by-election. Regarded as a loyalist of PTI founder and former prime minister Imran Khan, Saleem is rated as a potential contender for the aforementioned Senate slot keeping in view the PTI’s strength in the KP provincial legislature.

Allegedly, the ECP’s decision to postpone the by-election aimed at blocking Saleem’s way to the Upper House of the Parliament.

On March 7 this year, an anti-terrorism court (ATC) in Rawalpindi handed Saeed a 10-year sentence in a May 9 riots case.

The last hearing of this case was scheduled last Tuesday, rescheduled to Wednesday, due to the blockade of roads to and from Constitution Avenue where the ECP headquarters is located, following the arrival of a top-level Iranian delegation in Islamabad. The case was finally rescheduled for Tuesday.

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A similar demarche was also delivered by Pakistan’s Ambassador to Afghanistan, Ubaid-ur-Rehman Nizamani, to the Afghan Ministry of Foreign Affairs in Kabul on Monday.

The Spokesperson of the Ministry of Foreign Affairs, Tahir Andrabi, stated this in response to media queries regarding Pakistan’s demarche to the Afghan Taliban Regime following the Karachi terrorist attack.

He added, ‘’These demarches were issued in light of the fact that Afghan nationals, including one apprehended alive, participated in this attack, proving yet again that Afghan soil and Afghan nationals continue to be used to orchestrate terrorist attacks inside Pakistan.”

On Saturday evening, three personnel of Pakistan Rangers were martyred after terrorists attacked a local facility of the Sindh Rangers in Karachi’s Gulistan-i-Jauhar area.

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Speaking at a press conference, TTAP chairman Mehmood Khan Achakzai, along with senior leaders of the alliance, said the delegation had intended to travel to AJK to assess the situation on the ground and engage with local stakeholders amid deteriorating law and order conditions.

He said the visit had been planned following internal consultations within the alliance and was meant to be a peaceful and consultative mission.

“We had decided weeks ago that we would go to AJK, listen to the people, and understand the situation directly,” he said, adding that the delegation had no intention of provocation.

Referring to reports from the region, Achakzai, who is also the opposition leader in National Assembly, claimed that “more than 10 people had been killed” in recent clashes and warned that the situation was worsening.

“This is not an area where one should pour oil on the fire,” he said. “We went with restraint, not confrontation. Our purpose was only to listen and return.”

He further stated that preventing political leaders from visiting affected areas amounted to restricting democratic engagement.

According to him, such actions could deepen mistrust between the masses and the state rather than help resolve underlying grievances.

Allama Raja Nasir Abbas, the opposition leader in Senate, also criticized the restriction, saying it damaged the country’s democratic image.

He questioned why elected representatives and political leaders were being stopped from visiting what he described as their own region.

“It sends a negative message both nationally and internationally,” he added.

Other members of the delegation included former prime minister Shahid Khaqan Abbasi, Mustafa Nawaz Khokhar, and Khalid Yousaf Chaudhry, among others.

The opposition leaders collectively described the move as an infringement on political activity and warned it could set a troubling precedent.

Meanwhile, tensions in AJK have escalated in recent weeks amid clashes involving the Jammu Kashmir Joint Awami Action Committee (JAAC), which has been proscribed by the AJK government, and state authorities.

The unrest comes at a politically sensitive time, with legislative assembly elections in the region scheduled for July 27.

The opposition alliance urged authorities to ensure political freedoms and allow peaceful engagement with affected communities.

Copyright Business Recorder, 2026

The sub-committee of the Senate Standing Committee on Interior and Narcotics Control met under the convenership of Senator Saifullah Abro and reviewed the alleged theft of 2,828 cigarette cartons from the Federal Board of Revenue (FBR godowns in Swabi and Mardan), matters related to tobacco tax and smuggling-related issues, public awareness campaigns, narcotics control, and enforcement mechanisms of the FBR, including stock and inventory management.

During the previous meeting, Senator Abro had directed the FBR to provide details of tobacco companies that pay taxes and those allegedly involved in tax evasion. He also questioned how tobacco companies are able to run advertisements worth billions of rupees despite the applicable restrictions.

Abro reprimanded the FBR’s Chief Operations Officer, Javed Iqbal Tarar, for allegedly providing incorrect information about tax evasion. Expressing strong displeasure, the chairman ordered the official to leave the meeting, saying, “Get out of the committee.”

He criticised the presence of officials who, according to him, were misleading the committee, stating that “such corrupt officials have been appointed to key positions.” He further directed that a letter be sent to the relevant minister recommending the immediate removal of the FBR official from his post.

The senator also alleged that “three to four officers have ruined the entire country,” underscoring his dissatisfaction with the performance of certain officials during the proceedings.

During the meeting, Abro questioned officials of the Federal Investigation Agency (FIA) about the status of theft of cigarette cartons worth Rs250 million from FBR warehouses in Khyber Pakhtunkhwa

Responding to the committee, the FIA director said the inquiry had been completed and that a formal case would now be registered. The official added that the matter would be forwarded to Peshawar, where the FIR would be lodged.

FIA officials informed the committee that their inquiry had found a Deputy Collector of Customs and two customs inspectors responsible in connection with the case.

Abro questioned whether any external pressure was preventing the registration of the case. FIA officials replied that they had not received any recommendations or influence regarding the investigation.

The senator, however, claimed that he had personally received more than 20 recommendations related to the case and directed the FIA to register the case the same day and immediately provide a copy of the FIR to the parliamentary committee.

He further demanded that the Deputy Collector of Customs, whom he had fled the country, be brought back through Interpol to face legal proceedings.

The officials of the Press Information Department (PID) briefed the committee on its media awareness campaigns conducted on behalf of various Ministries and Divisions. It informed the Committee that awareness campaigns are aired through 92 television channels and other media platforms, with all content and expenditures being borne by the sponsoring Ministry or Division.

They said that campaigns regarding the sale of illegal cigarettes were carried out on behalf of the Federal Board of Revenue (FBR).

Abro directed the PID to submit complete details of all media contracts, campaign expenditures, and agreements with television channels.

During the discussion on the tobacco sector, the committee was informed that Pakistan Tobacco Company (PTC) and Philip Morris International (PMI) are among the major tax-paying tobacco companies.

The Convener expressed concern over the lack of information provided by the FBR regarding tax collection from tobacco manufacturers, stating that no comprehensive briefing had been submitted despite repeated directions.

The committee sought complete details of taxes assessed, collected, and pending from the tobacco industry, along with records of all registered tobacco factories over the last 20 years.

It directed the FBR to submit documentary evidence regarding the pending taxes, a complete list of tobacco companies and their brands, details of imported raw materials, and revenue and tax collection data spanning the past two decades.

The parliamentary body also directed the FIA to investigate the corruption case involving Badshah Wazir, particularly concerning raw materials imported for tax-exempt areas that allegedly never reached their intended destinations.

The committee was informed that the Anti-Narcotics Force (ANF) accounted for approximately 49 percent of the country’s total narcotics seizures during the previous year.

Officials further noted that drug abuse patterns are shifting from plant-based narcotics to synthetic and chemical drugs.

The committee was also briefed on the status of the high-profile Anmol alias “Pinky” drug trafficking case.

Expressing concern over conflicting accounts presented in previous meetings regarding the arrest of Anmol alias Pinky, the convener questioned why she had been provided with an extensive police escort during court appearances and directed law enforcement agencies to investigate her alleged links with influential individuals.

The meeting was also attended by Senators Mohammad Talha Mahmood, Dilawar Khan, and Hidayatullah Khan.

Copyright Business Recorder, 2026

Addressing a press conference here on Monday, the JI chief urged the government to avoid the use of force and engage with the Joint Awami Action Committee (JAAC) leadership.

JI chief announced that JAAC leadership through JI AJK chapter has urged his party leadership to mediate between the government and the JAAC, saying that JI has accepted the responsibility of mediation and started working to restore trust between the government and the JAAC to prevent bloodshed and unrest.

Hafiz Naeem said the JAAC had expressed complete confidence in JI leadership and had announced the planned long march towards AJK capital Muzaffarabad, which was a positive gesture. He urged the government to also move forward with seriousness and begin negotiations to resolve the legitimate demands of the people. He said the AJK situation should not be allowed to reach a point where India could exploit it for propaganda against Pakistan and the Kashmir cause.

“Jamaat-e-Islami’s mediation with the JAAC is within the constitutional and national framework of Pakistan and the Kashmir issue. As long as this framework remains intact, every possible effort will be made to resolve the matter,” he added. Rejecting the impression that the situation had reached a “point of no return,” Hafiz said the door for negotiations is still open. “We do not agree with the government’s position that the situation has gone beyond control. Dialogue is still possible, and JI has offered its cooperation both to the government and JAAC.”

Following the acceptance of its mediation offer, the party leadership decided to accelerate reconciliation efforts. He added that JI leaders in AJK had remained in contact with different stakeholders.

He said India was already committing serious human rights violations in occupied Kashmir through killings, the use of pellet guns, and imprisonment of Kashmiri leadership. “Pakistan should not make any mistake on the internal front that gives the enemy a diplomatic advantage,” he added.

The JI chief said public confidence in AJK’s political leadership had weakened due to repeated changes in political loyalties, power politics and vested interests, which had harmed the democratic process and contributed to public protests. He cautioned against elements trying to exploit the situation and appealed to AJK youth not to become part of any anti-Pakistan narrative. “Pakistan is the country of Kashmiris, and its educational institutions, offices and resources are open to them.

“Kashmiris should avoid falling into the hands of the enemy,” he said. JI Emir urged the federal government, relevant institutions, and authorities to avoid any steps that could create hatred, unrest, or instability. He also demanded that Punjab and the federal government ensure an uninterrupted supply of essential goods to the AJK.

The JI chief said that elections in AJK should be held on time, but if negotiations succeeded and normalcy returned, elections would take place in a more peaceful and acceptable environment. Otherwise, questions could be raised over their results.

Copyright Business Recorder, 2026

The assembly session began with a two-hour delay under the chairmanship of Speaker Malik Muhammad Ahmad Khan. Opposition Leader Moin Riaz Qureshi strongly opposed the Punjab Control of Habitual Offenders Bill 2026, describing it as a violation of fundamental rights and freedom of expression. Opposition member Rana Aftab Ahmad read out a letter addressed to the speaker, demanding that the bill be referred to a committee for further constitutional and legal scrutiny.

The Speaker clarified that the government would not table the bill during the current session. Provincial Finance Minister Mujtaba Shuja-ur-Rehman later announced that the legislation would instead be presented for approval in the August session, and debate on the bill was deferred until then.

The House subsequently began debate on the 38 supplementary budget grants. Opposition lawmakers Hafiz Farhat Abbas, Zulfiqar Bhatti, Sheikh Imtiaz, and Nadeem Qureshi criticized the government over the alleged unequal distribution of development funds, water shortages, corruption, and the neglect of Multan and other regions.

Responding to the criticism, Senior Minister Marriyum Aurangzeb defended the provincial budget and the government’s performance. She stated that Chief Minister Maryam Nawaz had provided 170,000 houses during the past 14 months. She further announced that 3,000 electric buses would be operational across Punjab by next year, with the fleet expanding to 5,000 before the end of the government’s term. She said water supply and sewerage projects were underway in 86 cities, while clean drinking water schemes worth Rs42 billion were being completed in South Punjab. She also announced plans to establish wastewater treatment plants in every city of the province.

The senior minister also defended the purchase of an aircraft for the Chief Minister, arguing it had been acquired to improve public service delivery and enable a swift response during emergencies.

During the proceedings, the opposition pointed out a lack of quorum. After the required quorum was restored, the session resumed. However, opposition members later staged a walkout, protesting what they described as insufficient time allocated for their speeches. However despite the boycott, the House approved all 38 supplementary budget grants for the 2025–26 fiscal year.

Finance Minister Mujtaba Shuja-ur-Rehman also announced four months’ honorary salary for employees of the Punjab Assembly, the Law Department, 90 Shahrah, and other relevant government departments.

After completing the day’s agenda, Deputy Speaker Zaheer Iqbal Channar adjourned the House until 1:00 p.m. on Tuesday.

Copyright Business Recorder, 2026

The initiative has been launched under the vision of Chief Minister Maryam Nawaz Sharif to improve educational, training and welfare facilities for children with special needs across the province. The Special Education Department is actively working to ensure better opportunities and services for special children throughout Punjab.

Accompanied by the Secretary Special Education and the Director General Special Education, Sania Ashiq inaugurated the Maryam Nawaz School for Special Children, Centre of Excellence. During the visit, she spent time with the children and received a detailed briefing from the staff regarding the newly introduced facilities and services.

The children expressed heartfelt gratitude to Chief Minister Maryam Nawaz Sharif for establishing the institution. Parents and staff members also requested the special assistant to convey their appreciation and thanks to the Chief Minister.

Speaking on the occasion, Sania Ashiq said that Chief Minister Maryam Nawaz Sharif had ensured the provision of all possible resources for the welfare and development of special children.

“These children, whom the Chief Minister regards as her own, are her foremost priority,” she said, adding that the Chief Minister and her team shared a deep sense of care and responsibility for the wellbeing of special children.

She further said that the Chief Minister’s affection and commitment towards these children could not be adequately expressed in words, adding that the progress being witnessed in the sector was the result of her personal attention and close supervision.

The Special Education Department Punjab, under the Chief Minister’s vision, continues to work actively for the education, training and welfare of special children across the province.

Copyright Business Recorder, 2026

The announcement, made during London Climate Action Week 2026, positions Pakistan alongside a growing international movement to decarbonise and modernise the global apparel and textile industry. Industry leaders, brands, manufacturers, investors, and development partners had gathered at the event to deliberate on climate finance and the long-term sustainable transformation of the sector.

The ATTI is a global manufacturer-led platform jointly established by the International Apparel Federation (IAF) and the International Textile Manufacturers Federation (ITMF), designed to drive industry-wide action on sustainability, energy efficiency, and responsible manufacturing. Pakistan’s membership signals a firm commitment to aligning its garment sector with evolving international standards and buyer expectations.

The PRGMEA’s engagement with global apparel bodies is not new. The association successfully hosted the IAF World Fashion Convention in Lahore in 2019, drawing together industry leaders from across the world. Former PRGMEA Chairman Ijaz A Khokhar continues to serve as a Board Member of the IAF, underscoring Pakistan’s consistent and active role in shaping the direction of the global apparel industry.

Under the newly forged collaboration, the PRGMEA and ATTI will jointly develop a Pakistan Transformation Plan covering decarbonisation, energy efficiency, water stewardship, climate finance, resource efficiency, and sustainable manufacturing practices. The initiative is specifically structured to provide practical solutions and technical support to manufacturers, with a strong emphasis on empowering small and medium enterprises that form the backbone of Pakistan’s export-driven garment industry.

Copyright Business Recorder, 2026

Under this initiative, thorough cleaning is being carried out at the entrances, corridors and all wards of tehsil, district and other major hospitals. Special attention is also being given to the cleanliness of waiting areas and public washrooms. Professional daily cleaning is being conducted in operation theatres to keep them infection-free. Doors and windows of government hospitals are also being cleaned regularly. Hospital floors are being washed and cleaned using specialised chemicals. Special cleaning measures are also being implemented in paediatric and gynaecology wards to protect the health of children and women.

On the directions of Punjab Chief Minister Maryam Nawaz Sharif, an extensive daily deep cleaning campaign is continuing in government hospitals across Punjab. The Chief Minister is being presented with a daily report on the deep cleaning process, while digital monitoring of the campaign is also underway.

Copyright Business Recorder, 2026

The chief minister ordered that anti-encroachment operations must be preceded by due notice and warning to the public. She further directed that, except for anti-encroachment and price control operations, all enforcement actions must be carried out only after prior digital requisition. She made it clear that there was no place in PERA for officials who intimidated the public or misused their authority.

“Corruption and abuse of powers will not be tolerated under any circumstances,” she said, directing strict compliance with PERA requisition rules.

The CM chaired a special meeting to review PERA’s performance, digitalisation, legal framework and future roadmap. The meeting was informed that digital requisition would now be mandatory for PERA operations to ensure transparency and effective monitoring.

According to the briefing, the PERA has conducted 1,527,028 inspections across Punjab, resulting in the sealing of 3,509 shops for violations of the law. Under the anti-encroachment campaign, more than 21,000 kanals of land have been retrieved, while 1,700 people have been arrested over illegal price hikes and encroachments. Authorities said complete digital records of all such enforcement actions were being maintained.

The CM observed that PERA’s 99 percent conviction rate reflected its performance but stressed that the authority’s goodwill should not be compromised. “Every action of PERA must be people-friendly,” she said, adding that resistance to lawful action must end and the rule of law would prevail. She also directed that investigating officers would no longer be transferred on anyone’s recommendation.

The meeting was briefed that PERA had won 99 percent of 136 writ petitions filed against it, while it had achieved 98 percent success in cases before judicial magistrates and hearing officers.

Officials informed the meeting participants that PERA’s challan system was being fully digitalised, with digital evidence and all records after trial force requisition being preserved electronically. The authority has so far acted on more than 62,000 digital requisitions.

The meeting was further informed that PERA’s challan completion rate had reached a record 97 percent. The first FIR under the PERA Act had been registered over a manual challan, while 700 disciplinary punishments had been awarded within the department and 20 employees dismissed from service on charges of negligence.

The chief minister was also informed that work had begun on a PERA training academy at Kallar Kahar to further improve the professionalism and discipline of the force. PERA aims to complete its permanent recruitment process by June 2027, while an Internal Affairs Unit is also being established to strengthen transparency.

Concluding the meeting, CM Punjab Maryam Nawaz appreciated PERA’s overall performance but directed the authority to improve its public communication and engagement.

Copyright Business Recorder, 2026

The LDA hosted the public hearing on Monday, convening international consultants, environmental watchdogs, and key civic stakeholders to map out the division’s urban and economic blueprint for the next quarter-century. The session, which drew participation from developers, the Association of Builders and Developers (ABAD), and community representatives, detailed how key sectors like the Central Business District (CBD), the Ravi Riverfront project handled by Ravi Urban Development Authority (RUDA), and defence areas will integrate into the region’s 2050 vision.

Conducted by international consulting firm Dar Al-Handasah, the event integrated feedback on urban sprawl, vertical development, and environmental mitigation across Lahore, Sheikhupura, Kasur, and Nankana Sahib Districts. The comprehensive briefing, led by Dar Al-Handasah, addressed critical regional challenges including industrial sprawl, smog, and water resource management, while laying down framework strategies for the division’s four primary districts.

On this occasion, LDA Chief Metropolitan Planner Faisal Masood Qureshi provided participants with an overview of the Master Plan 2050. Renowned architect Kamil Khan Mumtaz, a member of the Lahore Bachao Tehreek, and Professor Shakir Mahmood discussed the preparation and various stages of the Master Plan from 2019 to 2026. ABAD Chairman S M Nabeel emphasised the importance of the Master Plan and highlighted the necessity for stakeholder engagement.

The sitting reviewed the master plans of all districts within the Lahore division, including Lahore, Sheikhupura, Kasur, and Nankana. Considerations for future population growth, urban sprawl, and residential needs have been taken into account. The planning process includes provisions for urban amenities, public transportation, and pedestrian needs. Lahore’s culture, parks, greenery, and water resources are also integral components of this planning effort. Furthermore, the plan addresses environmental pollution, smog, industrial sprawl, and various social and economic challenges.

The plan encourages the construction of high-rise buildings as well as commercial and residential high-rise properties within the city. The Lahore Master Plan includes planning considerations for areas that fall under RUDA, CBD, Cantonment, and DHA. Recommendations from the Urban Unit and WWF, which serve as external reviewers of the Master Plan, are also being included. Technical issues are being addressed in collaboration with developers and other stakeholders. Dar Al-Handasah also provided insights into the planning and zoning proposals associated with the Master Plan. Participants were informed that public hearings will also be conducted in Sheikhupura, Kasur, and Nankana in the coming days.

Copyright Business Recorder, 2026

Expressing these views during a meeting at Lahore Chamber of Commerce and Industry (LCCI), she explained that TDAP’s primary mandate is to serve as the trade development arm of the Ministry of Commerce and promote Pakistan’s exports. She said that over the years, the authority has mainly focused on trade promotion, while many critical issues affecting the export supply chain fall outside its jurisdiction.

She said that matters such as the tax structure on raw material imports, regulatory issues and several policy decisions are handled by other federal institutions, particularly the Federal Board of Revenue (FBR).

DG TDAP further said the lack of effective coordination among federal and provincial institutions is also a major challenge for the export sector. She stressed that stronger institutional coordination and continuous consultation with the private sector are essential for creating an environment that supports export growth.

LCCI president Faheem Ur Rehman Saigol said the recent decline in Pakistan’s exports and the significant increase in the trade deficit require immediate attention and a coordinated strategy by all relevant institutions to put exports on a sustainable growth path. He said TDAP has consistently supported the Chamber’s major events, exhibitions and international trade activities. “LCCI is giving special attention to start-ups and business incubation, and TDAP can play a stronger role in connecting young entrepreneurs with international markets and promoting innovative export products,” he observed.

Expressing concern over the latest economic indicators, he said Pakistan’s exports have declined by around 17 percent, while the country’s trade deficit has increased to approximately USD35.8 billion. He stressed that without the support of remittances, Pakistan’s economic situation would be much more difficult. Therefore, the country’s primary focus should be on significantly increasing exports.

Faheem Saigol said Pakistan must expand into new international markets, promote value-added products, encourage innovation-driven business models, support start-ups, and strengthen collaboration between the public and private sectors to enhance the country’s export potential.

Copyright Business Recorder, 2026

It was stated by Vice Chancellor University of Agriculture Faisalabad (UAF) Prof Dr Zulfiqar Ali while chairing ORIC Steering Committee Meeting at ORIC Conference Room.

He emphasized ORIC’s pivotal role in building a robust ecosystem of technology, entrepreneurship, and economic prosperity, noting that a strengthened commercialization framework would elevate UAF’s global visibility, institutional rankings, and national reputation.

The committee approved the establishment of the University Research and Innovation Endowment (URIE), a perpetual fund designed to provide sustainable financing for innovation and industry engagement. URIE will operate on principles of protected principal, returns-only deployment, and reinvestment-based growth, ensuring long-term sustainability. It will support prototype development, technology validation, intellectual property protection, industry collaborations through MoUs, and commercialization activities that generate revenue.

Other key approvals included the ORIC Grants Manual 2026, pilot clustering of HPLCs, ORIC performance review, strategic initiatives, and future roadmap. The committee also endorsed research management reforms, the ORIC progress report, and statutes for consideration by the next statutory body. Members observed that URIE would significantly strengthen ORIC, reduce reliance on external grants, and create a self-sustaining commercialization pipeline.

The meeting was attended by Progressive Farmer Sapna Kaveeta Oberoi, FCCI President Farooq Yousaf Sheikh, Engineer Jawed Salim Qureshi, Dean Faculty of Sciences Dr Amer Jamil, Director ORIC Dr Sultan Habibullah, Director BIC Dr Hammad Badar, Registrar Dr Asif Kamran, Dr Khurran Zia and other distinguished faculty and industry representatives.

Participants hailed the initiative as a milestone in transforming university research into market-driven innovations, fostering stronger academia-industry partnerships, and ensuring financial sustainability for research commercialization.

Copyright Business Recorder, 2026

Retail prices had already been cut sharply a week earlier. Since then, international price movements offered little additional room for relief. At the same time, the petroleum levy, particularly on high-speed diesel, remained below the government’s desired trajectory. Rather than announcing a marginal reduction only to reverse course shortly thereafter, the government chose to narrow the gap by raising the levy on HSD. Even after the latest revision, the levy on petrol remains below levels seen in previous pricing cycles.

The real story, however, lies ahead.

With the FY26 petroleum levy target now effectively within reach, attention shifts to FY27, where the revenue ambition is substantially higher. Based on current consumption levels and assuming no meaningful demand destruction, meeting the target would require a combined petroleum levy of roughly Rs180 per litre on petrol and HSD. That leaves little doubt that the statutory levy ceiling will have to be raised, most likely from July.

Which raises an obvious question. If a higher levy was inevitable, why allow such a steep retail price cut a week earlier in the first place?

The government had enough room to moderate the earlier reduction without touching the levy. Doing so would have softened the eventual impact of a higher levy ceiling and avoided creating expectations of permanently lower fuel prices, only to reverse course the very next week. Weekly price revisions offer policymakers an even better opportunity to smooth adjustments rather than swing between large cuts and abrupt pauses.

This points to a broader weakness in Pakistan’s fuel pricing framework. Petroleum prices should not be managed with a week-to-week mindset. When international oil prices fall sharply, governments have an opportunity to build fiscal buffers through calibrated taxation while keeping retail prices relatively stable. Those buffers can then be used to cushion consumers during periods of rising crude prices instead of resorting to ad hoc subsidies or abrupt tax adjustments.

Ultimately, the best solution remains for the government to step back from directly managing retail fuel prices. International prices should pass through transparently, while fiscal policy should be exercised primarily through taxation. Taxes can be an effective signaling tool, but only if they are applied predictably and strategically rather than reactively.

The reopening of Hormuz has created its own complications. Tankers stuck for weeks and months now getting to move sound positive, but it also creates a messy adjustment. Too many cargoes will be trying to move at once. Kuwait, Iraq, Bahrain, and Qatar depend heavily on this route. When the Strait was disrupted, oil did not just stop moving. Refineries slowed, inventories were drawn down, emergency stocks were released and buyers scrambled for alternatives. Now all of that has to be unwound.

So could all this end up from a shortage to an oil glut. There are reports that the reopening could release significant barrels of stranded non-Iranian oil from the Gulf. On top of that, any easing of sanctions on Iran could bring more Iranian crude back into the market. In simple terms, the market may quickly move from worrying about shortage to dealing with too much oil arriving at the same time.

That is why prices have softened. Brent has fallen back close to pre-crisis levels as traders look beyond the immediate supply scare. But weaker prices do not mean the risk has disappeared. Many Asian and European refiners had already covered their near-term needs before exports resumed. So, some of the oil leaving the Gulf may not find immediate buyers and could end up in floating storage.

The International Energy Agency has also warned that a full recovery will take time. Shipping lanes still need to be cleared, tanker movement has to normalise and supply chains must settle. The IEA also points out that demand has already weakened sharply as consumers, companies and governments adjusted to the crisis.

For countries like Pakistan, the easing in oil prices is helpful. It reduces pressure on the import bill, inflation, and fuel subsidies. At a time when external accounts remain tight, even temporary relief in oil prices matters.

But the comfort should not be overstated. Hormuz may be open again, but it remains a geopolitical chokepoint. Any fresh attack, shipping scare or breakdown in the US-Iran understanding could bring the risk premium back quickly.

The lesson from this episode is clear. Oil markets can adjust, but not without pain. Exports are resuming, prices are easing and supply is returning. Yet confidence remains fragile. The crisis may be cooling, but its aftershocks are still moving through the global oil market.

According to an official statement, the operation was launched in the aftermath of recent terrorist attacks targeting civilians in Khyber Pakhtunkhwa and Balochistan, as well as a Pakistan Rangers (Sindh) camp in Karachi.

The operation began with an intelligence-based ground raid near the Pakistan-Afghanistan border in Bajaur district on June 28. During the operation, security forces killed four militants, including high-value Jamaat-ul-Ahrar commander Khan Farosh alias Zabal, described by authorities as a key terrorist commander, while several others were injured.

In continuation of Operation Ghazb Lil Haq, Pakistan conducted precision strikes during the night of June 28-29 against three terrorist targets in Afghanistan’s Paktia, Paktika and Kunar provinces. Officials said the strikes destroyed terrorist camps and hideouts belonging to Jamaat-ul-Ahrar and Fitna al-Khwarij, killing 25 militants and destroying large quantities of weapons and ammunition stored at the sites.

Information Minister AttaullahTarar said the security forces carried out the operation with “exceptional precision,” eliminating terrorists and destroying their weapons and ammunition stockpiles. He said the strikes were conducted on the intervening night of June 28 and 29 under Operation Ghazb Lil Haq.

Copyright Business Recorder, 2026

According to a notification issued by the Ministry of Interior, the directive has been sent to the chief secretaries of Punjab, Sindh, Khyber Pakhtunkhwa and Balochistan, as well as the governments of Gilgit-Baltistan (GB)

and Azad Jammu and Kashmir (AJK), and the chief commissioner of Islamabad.

The notification refers to decisions taken during a review meeting on the IFRP held on June 1 under the chairmanship of the Secretary of the Ministry of Interior and Narcotics Control. During the meeting, all provincial governments, special area governments and the Islamabad Capital Territory (ICT) administration were instructed to expedite the repatriation and deportation of Afghan nationals, including those who had overstayed their visas, and ensure strict implementation of the repatriation plan.

It stated that with effect from July 10, any Afghan national found residing in Pakistan without a valid visa would be liable to be arrested immediately.

The provincial authorities had been directed to issue necessary instructions to the deputy commissioners, the district administrations, police, and other law

enforcement agencies to ensure uniform and effective enforcement of the directive.

The ministry had also asked all provincial governments and the ICT administration to submit daily reports from July 11, detailing the number of Afghan nationals found without valid visas, the action taken against them, and their current status. The reports would be coordinated by the ministry’s designated focal person.

It is pertinent to mention here that the deportation drive, first launched in 2023, was renewed in April last year when the government rescinded hundreds of thousands of residence permits for Afghans, warning them of arrests if they did not leave.

Last year alone, Pakistan deported over 1,155,221 Afghan nationals.

The repatriated Afghans included 163,429 with proof of registration cards, 74,943 holding Afghan citizen cards, 509,671 were undocumented individuals, and 407,178 were voluntary returnees.

Copyright Business Recorder, 2026

According to the KPT spokesperson, the vessel stretches 399.9 metres in length and carries a total capacity of 24,346 twenty-foot equivalent units (TEUs), of which 3,802 TEUs are designated for Karachi, making it one of the largest single-ship cargo calls the port has received.

The arrival of an ultra-large container vessel of this class signals that KPT’s terminal infrastructure has reached specifications capable of accommodating the newest generation of mega-ships, which many regional ports still cannot berth due to draft, quay length, or crane reach limitations.

Copyright Business Recorder, 2026

As temperatures continue to rise across the world, heatwaves are becoming one of the most serious climate-related threats to public health. From Europe and North America to South Asia and the Middle East, cities are grappling with longer summers, more frequent periods of extreme heat, and growing pressure on public health systems.

Yet while heatwaves are often measured in degrees Celsius, their real impact is measured in people.

According to global health experts, heat stress is among the leading causes of weather-related mortality worldwide. The World Health Organization (WHO) estimates that hundreds of thousands of lives are affected by extreme environmental heat each year, with Asia carrying a significant share of the burden. As climate change accelerates, the number of people exposed to dangerous temperatures is expected to increase substantially in the coming decades.

The WHO notes that many of these deaths are preventable through timely public health interventions and individual protective measures, including hydration, and avoiding unnecessary outdoors exposure during peak heat hours.

Understanding the real risk

Extreme heat becomes dangerous when the body can no longer regulate its temperature effectively.

During hot weather, the body relies on sweating to cool itself. However, prolonged exposure to high temperatures, especially under direct sunlight, leads to significant fluid loss. When lost fluids are not timely replaced, dehydration sets in. This vulnerability can ultimately lead to a heatstroke, a medical emergency that can be fatal if left untreated.

Health experts consistently identify dehydration as one of the most immediate and preventable risks associated with extreme heat. Symptoms such as dizziness, fatigue, headaches, muscle cramps, confusion, and rapid heartbeat often emerge before more serious medical complications occur.

This is why public health guidance across the world consistently emphasises hydration as one of the first lines of defence.

What cities are doing

As extreme heat becomes more common, cities across the world are rethinking how public outdoors spaces can help protect residents.

Across Europe, local authorities have expanded access to public drinking water points, shaded areas, cooling fountains, and misting systems that help reduce heat exposure in busy urban areas. Cities such as Prague, Paris, Barcelona, and Madrid have increasingly incorporated water-based cooling features, mist sprays, shaded parks and public heat-relief measures that provide respite during extreme weather. Public advisories encourage residents to avoid outdoor activity during the hottest hours of the day and increase water intake.

In Australia, where heatwaves are often described as the country’s “silent killer,” public health campaigns focus heavily on hydration. Public awareness campaigns encourage residents to carry water, limit outdoor activities during peak afternoon hours, and regularly check on vulnerable family members and neighbours. Municipal authorities often activate heat-health action plans whenever temperatures cross critical thresholds.

Meanwhile, cities in the United States have expanded hydration stations, public relief points, and community outreach programmes aimed at reducing heat-related illnesses among outdoor workers, senior citizens, and other at-risk groups.

Despite differences in geography, climate, and infrastructure, theme remains consistent across all these examples: keeping people hydrated and reducing direct exposure to extreme heat.

The Pakistan story

Pakistan remains among the countries most vulnerable to extreme heat.Yet the challenge varies from city to city.

Lahore often records higher air temperatures than Karachi. Islamabad benefits from comparatively greater tree cover and green spaces. Karachi, meanwhile, faces a different challenge: humidity.

High humidity limits the evaporation of sweat, reducing the body’s natural ability to cool itself. As a result, even when temperatures are lower than those recorded elsewhere, the “feels-like” temperature can be significantly higher. Medical experts increasingly warn that humid heat can be particularly dangerous because the body struggles to release heat efficiently.

This helps explain why coastal cities can experience severe health impacts during prolonged heat events despite not always recording the country’s highest temperatures.

Bringing relief closer

Perhaps, the most practical lesson from international experience is that effective heatwave interventions do not always require large-scale infrastructure investments.

Simple measures can have a meaningful impact.

Public drinking water stations in busy markets, transport hubs, parks, and community centres can help ensure residents remain hydrated throughout the day. Temporary hydration points can be established during periods of extreme temperatures. Additional shaded waiting areas, tree plantations, and public awareness campaigns can further reduce health risks.

One increasingly common approach is the establishment of heat relief camps that provide drinking water, oral rehydration support, shade, and public awareness.

Recent heat-relief initiatives across Karachi have focused on distributing drinking water, and hydration supplies to people most exposed to outdoor conditions, including daily wage earners, commuters, traffic personnel, and vulnerable residents.

Among these efforts was a recent citywide heat-relief campaign organised by Saylani Welfare Trust and K-Electric, through nine locations where thousands of people received support, including water distribution and hydration assistance. Such initiatives demonstrate how relatively simple interventions can have meaningful public health impact during periods of extreme heat.

For employers, adjusting outdoor work schedules and ensuring access to drinking water can help protect workers who spend long hours under direct sunlight.

Building a resilient future

As cities adapt to this new reality, public health preparedness will become increasingly important.

Experiences around the world show resilience is not built through a single intervention. It requires a combination of public awareness, urban planning, community engagement, and accessible relief measures.

But among all the solutions being implemented globally, one remains remarkably simple: hydration.

As Pakistan prepares for hotter summers in the years ahead, perhaps, the most powerful heatwave intervention remains one of the simplest.

A bottle of water, available at the right place, at the right time.

Copyright Business Recorder, 2026

According to the Finance Act 2026 issued on Monday, every banking and non-banking financial institution shall, at the time of credit or receipt of any amount in an account of a person, deduct tax at the rate specified, where such amount represents revenues received from social media platforms.

For the purposes of this section, the digital content creator or social media influencer means any individual or entity deriving income from creation, publication, or monetisation of content on digital platforms including but not limited to YouTube, Facebook, Instagram, TikTok or such other similar platforms; and payment includes any inward remittance, transfer, or credit received through banking channels, including through intermediaries such as online payment service providers or digital financial platforms.

The tax deducted under this section shall be minimum in the case of a resident person; and final tax in the case of a non-resident person not having a permanent establishment in Pakistan.

The Board may, by notification in the official Gazette, prescribe rules for implementation, including identification and reporting mechanisms, it added.

Copyright Business Recorder, 2026

However, the decline is expected to be offset by USD 2.4 billion in external inflows received subsequently, which will be reflected in the SBP’s foreign exchange reserves report for the week ending June 30, 2026.

According to the State Bank of Pakistan’s (SBP) weekly foreign exchange reserves report, the country’s total liquid foreign exchange reserves stood at USD 21.485 billion as of June 19, 2026, down from USD 22.746 billion a week earlier on June 12, 2026.

The entire decline in the country’s foreign exchange reserves was recorded in the SBP’s holdings, while reserves held by commercial banks increased slightly.

During the week ended June 19, 2026, the SBP’s foreign exchange reserves fell by USD 1.305 billion to USD 15.916 billion, dropping below the USD 16 billion mark, compared with USD 17.221 billion a week earlier.

Copyright Business Recorder, 2026

The justices, in a 6-3 decision powered by the court’s conservative majority, invalidated tenure protections for FTC members enacted by Congress more than a century ago. In doing so, the justices overruled the court’s pivotal decision in a case called Humphrey’s Executor v. United States. Trump last year dismissed the FTC’s Rebecca Slaughter over policy differences.

The court, however, signalled that Monday’s decision should not be seen as undermining the Federal Reserve’s independence, with the justices describing the US central bank as possessing a unique historical tradition.

In another landmark ruling on Monday, the court refused to let Trump fire Federal Reserve Governor Lisa Cook as it stood firm to preserve the central bank’s independence.

In the FTC case, the court ruled that removal protections for FTC members unlawfully encroached on presidential power under the US Constitution.

‘THE VERY ESSENCE’

Chief Justice John Roberts, who authored a decision joined by his five fellow conservatives, said Trump’s authority to dismiss Slaughter last year over policy differences “is not a close case.” The court’s three liberal justices dissented.

“The FTC’s for-cause removal provision violates the separation of powers,” Roberts wrote. “In its present form, the FTC enforces and administers some 80 statutes, which cover almost every facet of our Nation’s economy. The tasks it undertakes are ‘the very essence of execution of the law’ — precisely the president’s constitutional role.”

Slaughter, appointed to her post by Democratic former President Joe Biden, was one of two Democratic FTC commissioners who Trump moved to fire in March 2025 from the consumer protection and antitrust agency. Slaughter’s term was due to run until 2029.

A 1914 law passed by Congress permitted a president to remove FTC commissioners only for cause - such as inefficiency, neglect of duty or malfeasance in office - but not for policy differences. Similar protections cover officials at more than two dozen other independent agencies, including the National Labor Relations Board and Merit Systems Protection Board.

It was not immediately clear whether the independence of these other agencies would be stripped as a result of Monday’s ruling.

While the court’s majority said its decision should not be read as determining the fate of officials other than Slaughter, the liberal justices in a dissent said that the ruling had given the president “a power unknown even to the English Crown against which the Founders revolted.”

“Put simply, today the majority reshapes our Government. Dozens of independent commissions are now likely to become purely executive agencies, shifting tremendous power over broad swaths of American life into the president’s hands,” wrote Justice Sonia Sotomayor, joined by fellow liberal justices Elena Kagan and Ketanji Brown Jackson.

Trump hails ‘big win’

On social media, Trump welcomed the ruling concerning Slaughter as a “BIG WIN.” Trump said the decision was “confirming Presidential Power in our Country to remove Executive Branch Officers and Agency Appointees, or Representatives, under Article II,” the constitutional provision laying out presidential powers.

“This Decision was long sought by United States Presidents, dating all the way back to the 1930s,” Trump wrote, calling the decision “one of the most important ever given with respect to Presidential Powers.”

Slaughter, in an appearance on CNBC, said she was disappointed with the Supreme Court’s ruling and “shocked when the court overturns a unanimous 91-year-old precedent that has been used to shape so much of our government institutions.”

“I think why it really matters is exactly as President Trump said, it is unprecedented,” Slaughter said.

A report for the audit year 2025-26 about the financial year 2024-25 revealed that the Pakistan Bureau of Statistics (PBS), an attached department of the Ministry of Planning, Development and Special Initiatives, violated Rule 668 of the Federal Treasury Rules (FTR), Volume-I.

Rule 668 of FTR Volume-I states that advances granted under special orders of the competent authority to government officers for departmental or allied purposes may be drawn on the responsibility and receipt of the officers for whom they are sanctioned, subject to adjustment through the submission of detailed accounts supported by vouchers or by refund, as necessary.

According to the Auditor General of Pakistan, the PBS management paid Rs 3.195 billion as advances to district administrations across all provinces, including Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB), against estimated expenditures on stationery, other stores, hiring of vehicles, and training/remuneration of field staff for the 7th Population and Housing Census and the 7th Agricultural Census 2023-24 during the financial year 2023-24.

The audit observed that neither detailed adjustment accounts were obtained from the district administrations nor was any unspent amount, if any, returned to the PBS. Audit was of the view that the failure to obtain detailed adjustment accounts and recover unspent amounts from the district administrations constituted a violation of the relevant rules.

The audit recommended that detailed adjustment accounts be obtained and any unspent amounts be recovered at the earliest.

Copyright Business Recorder, 2026

Nine companies have successfully completed their IPOs, raising more than Rs. 20 billion, while the book building for LSE SPAC-II is scheduled to take place in the coming days.

The strong IPO pipeline came despite heightened regional uncertainty and geopolitical tensions, reflecting the resilience of Pakistan’s capital market and growing investor confidence. During the recent regional conflict, the Pakistan Stock Exchange outperformed many regional markets, supported by strong domestic institutional participation, improving macroeconomic fundamentals, and renewed investor optimism.

The robust IPO activity also reflects the success of SECP’s market development reforms aimed at simplifying listing requirements, facilitating capital raising, broadening investment opportunities, and encouraging more companies to finance their growth through the capital market.

The IPOs represented a broad spectrum of Pakistan’s economy, including manufacturing, petroleum, dairy, Islamic finance, poultry, real estate, and technology, demonstrating the increasing depth and diversity of the country’s capital market.

Service Long March Tyres Limited launched the largest IPO during the period, raising Rs. 7.77 billion to establish a modern passenger car tyre manufacturing facility in Nooriabad, Sindh.

Sitara Petroleum Limited raised Rs. 4.83 billion, with its IPO fully subscribed within eight minutes. Institutional demand reached seven times the shares offered, making it one of the most successful public offerings in recent years.

Ghani Dairies Limited raised Rs. 3.44 billion, becoming Pakistan’s first listed corporate dairy farm, while Wahdat Poultry Farms Limited raised nearly Rs. 1 billion to expand its poultry business.

Among the most notable offerings, Pak-Qatar General Takaful Limited became Pakistan’s first listed non-life Takaful company. Its IPO attracted exceptional investor interest, with institutional investors subscribing 21 times the shares offered and more than 13,000 retail investors participating in the public offering.

The first half of 2026 also marked significant innovation in Pakistan’s capital market. Signature Residency REIT and JS Rental REIT successfully listed on the PSX, providing investors with regulated opportunities to invest in professionally managed residential and commercial real estate assets.

Pakistan also witnessed the successful listing of LSE SPAC-I, the country’s first Special Purpose Acquisition Company (SPAC), while LSE SPAC-II has received SECP approval and is expected to commence book building shortly. In addition, Select Technologies Limited, a leading local manufacturing partner of global technology brands, joined the stock exchange, further strengthening the representation of Pakistan’s technology and industrial sectors.

The successful IPO pipeline reflects growing confidence among both institutional and retail investors in Pakistan’s capital markets. Strong oversubscriptions across several offerings demonstrate improving market liquidity, expanding investor participation, and increasing confidence in Pakistan’s economic outlook.

SECP Chairman Dr. Kabir Ahmed Sidhu said the Commission remains committed to further simplifying the listing process and making investment in the stock market easier and more accessible for investors. He said SECP’s objective is to increase investor participation, enable more Pakistanis to benefit from the country’s economic growth, encourage more companies to raise capital through the stock market, and strengthen Pakistan’s capital market as a key driver of investment, job creation, and sustainable economic development.

Copyright Business Recorder, 2026

Police in bulletproof vests and several ambulances were seen at the cordoned-off site in the northern city of Stade, west of Hamburg, in the wake of the gun rampage.

“Homicides involving multiple victims occurred at a youth welfare facility” in the city, police said about the shooting at a centre also believed to house mother-and-child residential groups.

“Five people were fatally injured and additional individuals sustained injuries,” police said. The suspected gunman and a second alleged perpetrator were arrested, police said, adding that there was no longer any danger to the public.

According to the Finance Act 2026 issued on Monday, in the case of steel melters, steel re-rollers and composite units, the tax shall be collected on the basis of per unit electricity consumption including use of electricity produced by a captive power plant or through any other alternative source of energy at the rate or rates as prescribed by the Board, through notification in the official Gazette. The tax so collected shall be an adjustable input tax, to be claimed in the return of the month in which such payment is made.

The Board may prescribe a lower per unit rate or rates of electricity consumption on the basis of input tax paid on imports or other invoices issued through electronic invoicing system, digitally issued invoices for compliant and digitally integrated steel melters, re-rollers and composite units to minimize creation of refunds.

The per unit sales tax shall be determined by the Board on the basis of minimum notified price under clause (46) of section 2 of this Act and the industrial benchmarks of consumption of electricity against per ton production of steel Products, Finance Act 2026 added.

Copyright Business Recorder, 2026

Bilawal Bhutto will visit Iran with the Pakistan’s delegation led by Prime Minister Shehbaz Sharif, according to PPP sources. The Pakistani delegation led by the PM will visit Iran on July 3 to 4.

Party sources have said that PPP chairman will likely meet with Iran’s President and other leadership.

The funeral rites will open with two farewell events on July 4 and 5 at Imam Khomeini Mosalla in Tehran. A central procession will move through the capital on Monday, July 6. Ayatollah Seyyed Ali Khamenei’s coffin will be carried alongside four other martyrs of the family. Bilawal Bhutto on his return from Iran will visit Gilgit-Baltistan to attend the oath-taking ceremony of the chief minister of G-B, sources said.