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Pakistan

India’s aggression further united Pakistanis, says President Zardari

Published May 13, 2025 Updated May 13, 2025 08:29pm

President Asif Ali Zardari on Tuesday said that India’s blatant aggression had further united and strengthened the Pakistani people, and that the entire nation and its armed forces were always ready to respond to India’s hostility, according to a statement from the President House.

The president, in a statement, paid tribute to those martyred as a result of unprovoked Indian aggression against Pakistan and said that the entire nation saluted the brave sons of the Pakistan Army and Pakistan Air Force who sacrificed their lives for the country’s security.

French official confirms Pakistan downed at least one Indian Rafale jet

“We are proud of the sacrifices of our martyrs. Our brave forces have successfully defended the nation and the country’s integrity. Through Operation Bunyanum Marsoos, our brave forces shattered the enemy’s arrogance,” he remarked.

President Zardari said that the people and the brave forces of Pakistan were always ready to thwart any aggression and would give a crushing response to every attack on their national security and sovereignty.

He expressed grief over the loss of precious lives, including children and women, during the Indian attacks.

He also extended condolences to the families of those who lost their lives and prayed for their patience and strength, and swift recovery of the injured.

Pakistan Print 2025-05-13

Pakistan’s victory has introduced ‘new normal’, says businessman

Published May 13, 2025 Updated May 13, 2025 07:10am

KARACHI: Mian Zahid Hussain, chairman of the National Business Group Pakistan, president of the Pakistan Businessmen and Intellectuals Forum, chairman of the All Karachi Industrial Alliance, chairman of FPCCI Policy Advisory Board, said that Pakistan’s victory has introduced a “new normal” in the region, under which dialogue on all issues, including Kashmir, water resources, and terrorism in Balochistan and Khyber Pakhtunkhwa, has now become necessary to resolve for India.

He stated that if India fails to resolve issues through dialogue with Pakistan, then under the new rules of engagement India will face a greater trouble. He said that extremist Modi and his team have brought shame and defeat to India through deceit, cunning strategies, and false accusations. He said that treating Pakistan as a weak nation and launching an assault has backfired on the BJP and now Modi and his party have no political future.

In contrast, he said, Pakistan has emerged from this conflict as a dignified, powerful, and responsible nation on the global stage. This will damage India’s political stability, stoke tourism, and dwindle foreign investment and the economy, which is currently growing at a rate of 5.8%. India must peacefully resolve all disputes with Pakistan and other regional countries under the new reality to save itself.

Mian Zahid stated that Modi mistakenly believed India was invincible while viewing Pakistan as weak, which was a serious miscalculation. The destruction of India costly aircraft, airfields, weapons depots, and, most notably, billions of dollars’ worth of Russian defense systems by Pakistan has significantly harmed India global image and weakened its defense.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

Maryam says Nawaz Sharif made country’s defence invincible

Published May 13, 2025 Updated May 13, 2025 07:02am

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif has said the success of ‘Operation Bunyan-un-Marsoos’ infused new confidence to the nation and breathed a new spirit of national unity.

“Nawaz Sharif made the defense of Pakistan invincible by carrying out nuclear explosions as it enhanced the dignity and respect of our country among the comity of nations,” the CM said while chairing a meeting of the Health & Population Department.

The CM congratulated the participants of the meeting on the success of Operation Bunyan-un-Marsoos during the meeting.

The chief minister sought a plan for providing blood to the patients across Punjab as per international standards. The CM gave in-principle approval to establish a Thalassemia centre in each division. Thalassemia centres will also be set up in 21 district and 15 tehsil headquarters hospitals.

She took a principled decision to implement the most effective “Central Monitoring System” for streamlining health department in the province. She directed to complete revamping process of hospitals at the earliest and further directed to complete revamping process of 800 health centres by June 20. She directed to establish an effective monitoring system for cleanliness and security services in district and tehsil hospitals across Punjab.

The meeting comprehensively reviewed the proposed project for the next financial year. The 71 projects of “Maryam Nawaz Health Clinic” and 75 projects of “Population Management & Family Planning” programme were also reviewed.

The projects for the rehabilitation of dispensaries, MCL centres, provision of equipment and furniture were presented across Punjab.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

UAF observes Youm-i-Tashakur

Published May 13, 2025 Updated May 13, 2025 07:00am

FAISALABAD: The University of Agriculture Faisalabad observed Youm-i-Tashakur for giving a befitting response to Indian aggression against Pakistan and on the success of Operation Bunyan-un-Marsoos. They paid tribute to valour and gallantry shown by armed forces of the country in foiling the aggression and evil designs of the enemy against the country.

Led by UAF Vice Chancellor Prof Dr Zulfiqar Ali, Youm-i-Tashakur rally was taken out from Iqbal Auditorium to University Clock Tower. They expressed their unity and love with the armed forces of the country, who have earned the global recognition and made the nation proud at the international level because of their gallantry and courage. Former Vice Chancellor Prof Dr Iqrar Ahmad Khan also participated.

Prof Dr Zulfiqar Ali said that the armed forces are proud of our country who are safeguarding the country with all-out efforts and sacrifices and proven it as one of the best of the armies of the world.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

Sikh delegation meets Hafiz Naeem

Published May 13, 2025 Updated May 13, 2025 06:59am

LAHORE: Chief of Jamaat-e-Islami Hafiz Naeem ur Rehman has warned that if India does not refrain from aggressive actions, Pakistan will not be able to provide any guarantees of peace.

Speaking during a meeting with a Sikh delegation on Monday, he said that the Pakistani nation will not accept any compromise on the Kashmir issue and stressed that the dispute should be resolved in accordance with United Nations resolutions.

He emphasized the importance of fully implementing the Indus Waters Treaty, stating that India’s water aggression must be dealt with decisively and permanently.

The Sikh delegation expressed happiness over Pakistan’s recent strategic success and appreciated Jamaat-e-Islami’s firm stance.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

UK, France & Australia urge Pakistan to exercise restraint

Published May 13, 2025 Updated May 13, 2025 06:57am

ISLAMABAD: Welcoming the ceasefire understanding between Pakistan and India following days’ long escalation, the United Kingdom (UK), France and Australia have urged Pakistan to exercise maximum restraint so that lasting peace and tranquility could prevail in South Asia.

Deputy Prime Minister/Foreign Minister Ishaq Dar Monday received a call from the UK Foreign Secretary, David Lammy.

Both leaders discussed latest developments in the region. Foreign Secretary Lammy appreciated Pakistan’s efforts towards maintaining regional peace. Both sides agreed to maintain close coordination on areas of mutual interest.

In addition, Dar held a telephonic conversation with the Minister for Europe and Foreign Affairs of France, Jean-Noël Barrot.

He informed him that Pakistan had shown restraint throughout the crisis and only exercised its right to self-defence, in line with the UN Charter and international law. Pakistan would continue to work in a responsible manner for maintaining regional peace and security.

Barrot conveyed condolences over the loss of innocent lives. Welcoming the ceasefire understanding between Pakistan and India, he emphasised the need for both sides to exercise restraint. Both leaders agreed to maintain close contact, including through multilateral fora.

Dar also received a telephone call from the Foreign Minister of Australia, Senator Penny Wong. He informed that Pakistan had shown restraint throughout the crisis and only exercised its right to self-defence, in line with the UN Charter and international law. Pakistan would continue to work in a responsible manner for maintaining regional peace and security.

FM expressed concern over the situation and conveyed condolences over the loss of innocent lives, including those in the Jaffar Express attack. She welcomed the announcement of a ceasefire between Pakistan and India and expressed hope it would lead to lasting peace.

Meanwhile, the Saudi Ambassador to Pakistan, Nawaf bin Saeed Al-Malkiy, called on Ishaq Dar. They discussed full gamut of bilateral ties and reaffirmed their commitment to further strengthen already existing fraternal relations across all sectors.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

AJK: Health minister Kamal vows all-out cooperation

Published May 13, 2025 Updated May 13, 2025 06:55am

ISLAMABAD: Federal Minister for National Health Services and Regulations Mustafa Kamal Monday has assured the people and the authorities of Azad Jammu and Kashmir (AJK) of Pakistan’s every possible cooperation to serve the masses especially with regard to health services.

The minister, during his brief visit to the District Headquarters Hospital (DHQ) Kotli, said that in-line with the directives of the Prime Minister (PM) of Pakistan, Shehbaz Sharif, he is visiting the AJK region to express solidarity with the people of Kashmir and to extend all out cooperation. The minister also condemned Indian aggression and highlighted the nation’s unprecedented unity on the occasion.

Kamal told the media that his visit comes in the light of special directives of the prime minister of Pakistan and the chief of army staff. He met with Deputy Commissioner of District Kotli Major Nasir Rafiq (retired) who warmly received the minister. Also present at the meeting was Brigade Commander Brigadier Samiullah.

The minister visited the District Headquarters Hospital Kotli, where he inquired about the health of civilians injured due to unprovoked Indian shelling. Among the injured was a child whose brother was martyred in the attack. “May God grant the bereaved family patience and strength,” he said. Minister Kamal assured that all victims would receive the best possible medical care, completely free of charge. “The government stands shoulder to shoulder with its wounded citizens,” he emphasised.

“India, which dreamt of Pakistan’s internal collapse, is now grappling with chaos within its own borders,” the minister stated. He criticised Indian Prime Minister Narendra Modi, saying, “Modi believed he could become the ‘Israel’ of this region. Instead, his actions have only unified Pakistan.”

Kamal acknowledged that the recent hostilities and provocations from India had led to a remarkable transformation within the Pakistani nation. “Thank you, India — your aggression has brought us together,” he said. “Pakistan today is entirely different from what it was 20 days ago. Our people stand shoulder to shoulder with their Armed Forces, like a wall of steel.”

He emphasised that ethnic, linguistic, and sectarian differences had been set aside as the nation united to defend its sovereignty. “Allah has granted us the strength to shatter the arrogance of our enemy,” Kamal added, noting that even the global community has recognised Pakistan’s strength and resolve.

Despite India’s military and economic advantages both estimated to be eight times greater, Kamal stated that India had suffered a humiliating defeat, saying armed forces of Pakistan including Air Force, Navy, and land forces delivered a befitting response to the enemy.

He urged the Pakistani nation to preserve this spirit of unity at all costs, stating that India did not target terrorists; they attacked children, women, and the elderly.

Referring to victims of cross-border shelling, he said he himself has witnessed the screaming of a mother at DHQ Kotli who lost her child.

Drawing a powerful comparison, he said, “Even global superpowers have failed to break the spirit of children in Gaza. India cannot expect to break the will of 240 million Pakistanis.”

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

JI asks govt not to give India any guarantee sans it quits aggression

Published May 13, 2025 Updated May 13, 2025 06:53am

ISLAMABAD: Jamaat-e-Islami (JI) Pakistan chief Hafiz Naeemur Rehman, Monday, while slamming India said that unless Indian government refrains from aggressive actions, Pakistan should not provide any guarantees.

Talking to a delegation of Sikh community here, Naeem emphasised the importance of fully implementing the Indus Waters Treaty, stating that India’s water aggression must be dealt with decisively and permanently.

He said that the Pakistani nation will not accept any compromise on the Kashmir issue and stressed that the dispute should be resolved in accordance with United Nations resolutions.

The Sikh delegation expressed happiness over Pakistan’s recent strategic success and appreciated Jamaat-e-Islami’s firm stance. The delegates reiterated that the people of Pakistan, regardless of religious, sectarian, or linguistic differences, stand united in defence of the country. They also celebrated the success of Pakistan’s armed forces in countering Indian hostilities.

The JI chief stated that the entire nation has set aside political differences in the interest of national security and integrity, a positive sign that the government must take seriously. He urged the authorities to act responsibly and take immediate and meaningful steps to preserve this unity.

He said Pakistan had achieved a significant success against Indian aggression. He said that any international mediation on Kashmir must be aligned with UN resolutions. “The government must not fall for empty statements from world leaders, and should avoid any illusionary hopes while pursuing a principled and firm policy on Kashmir,” he added.

Calling Kashmir the “jugular vein” of Pakistan, he said the people of Kashmir must be granted their right to self-determination. He criticised the Indian media for its toxic and false propaganda and urged the Pakistani government to expose the true face of the Hindutva ideology. “The world should know that Modi’s extremist vision poses a serious threat to the peace of South Asia. Muslims and other minorities in India are unsafe and frequently targeted,” he said.

The chief stated that when a nation stands with honour and dignity, its economy can stabilise on its own. “We must not lose a won battle at the negotiation table,” he asserted.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

Entire nation has full confidence in armed forces: minister

Published May 13, 2025 Updated May 13, 2025 06:46am

KARACHI: Sindh Minister for Energy and Planning, Syed Nasir Hussain Shah, stated that the entire nation is proud of and has full confidence in its dignified armed forces. The Pakistan Armed Forces have raised the nation’s head high by giving a strong and befitting response to the enemy’s cowardly aggression.

He expressed these views while speaking at a Thanksgiving Ceremony organized by the Sindh Transmission and Dispatch Company on the success of ‘Operation Bunyan-un-Marsoos’. The ceremony was attended by Sindh Interior Minister Zia Lanjar, Energy Secretary Mushtaq Soomro, STDC CEO Saleem Shaikh, Senior GM Technical Tariq Saeed, Chief Financial Officer Sajjad Junejo, and officials and employees of the Energy Department. A cake-cutting ceremony was also held on this occasion.

Nasir Hussain Shah paid tribute to the commanders and soldiers of the Pakistan Army, Air Force, and Navy for the success of Operation Bunyan-un-Marsoos, saying that we salute the Pakistan Armed Forces, who have earned global recognition.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

ABAD congratulates Army over historic victory against India

Published May 13, 2025 Updated May 13, 2025 06:45am

KARACHI: The Association of Builders and Developers (ABAD) have congratulated Pakistan’s military, celebrating what they describe as a historic victory against India.

ABAD leadership, including Chairman Muhammad Hassan Bakhshi and other top executives, expressed profound respect for the Pakistan Army, Air Force, and Navy. The ABAD emphasized that the stands united in pride over the military’s remarkable triumph.

They praised the military’s “courageous leadership and timely decisions” that successfully thwarted enemy aggression.

The organization noted that Pakistan’s victory was comprehensive, highlighting successful repulsion of enemy attacks, swift and decisive Air Force response, and protection of maritime boundaries significant economic impact on India, evidenced by stock market fluctuations

The ABAD said with deep respect for the families of both civilian and military martyrs, emphasizing that their sacrifices will never be forgotten.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

Pak-India future talks will focus on three main disputes: Asif

Published May 13, 2025 Updated May 13, 2025 06:44am

ISLAMABAD: Defence Minister Khawaja Asif said on Monday that any future talks between Pakistan and India would centre around three critical issues “Kashmir, terrorism, and water disputes.”

Speaking to reporters in Islamabad, the minister said, “If talks are held between two nuclear-armed neighbours, they will focus on Kashmir, terrorism, and water-related matters.”

The minister highlighted that terrorism has affected the region for the past two to three decades, with Pakistan remains the biggest victim.

“It is ironic that the country most affected by terrorism is being blamed for it and even attacked,” he remarked.

Calling for a peaceful resolution to the longstanding Kashmir issue, Khawaja Asif said, “This is a golden opportunity for both Pakistan and India to resolve the Kashmir dispute.”

He also acknowledged a recent development in the international discourse on Kashmir, crediting US President Donald Trump for raising the issue.

“Trump brought further attention to the Kashmir matter and suggested that it should be part of broader discussions,” Khawaja Asif added.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

Pakistan armed forces successfully carried out ‘Bunyanum Marsoos’

Published May 13, 2025 Updated May 13, 2025 08:19am

ISLAMABAD: In a bold and decisive response to unprovoked Indian military aggression, the Pakistan Armed Forces successfully carried out Operation “Bunyanum Marsoos” as part of the larger military conflict codenamed Marka-e-Haq.

The operation, conducted on 10 May 2025, was launched after Indian forces initiated attacks during the night of 6 and 7 May, resulting in the tragic loss of innocent civilian lives, including women, children, and the elderly.

According to a statement issued by the Inter-Services Public Relations (ISPR), Pakistan had vowed retribution for the brutal attacks — a promise that the nation’s armed forces have now fulfilled with precision and restraint.

“The Pakistan Armed Forces thank Almighty Allah for His divine support and mercy, which enabled us to translate our resolve into decisive action on the battlefield,” the statement read.

Precision Strikes, Measured Response

Operation Bunyanum Marsoos involved coordinated, multi-domain operations across air, land, sea, cyber, and space. Utilising long-range precision munitions, advanced loitering drones, and the Army’s Fatah F1 and F2 missile series, Pakistan successfully targeted 26 high-value military facilities and command centers inside Indian Illegally Occupied Jammu and Kashmir (IIOJK) and mainland India.

Targets included Indian airbases at Suratgarh, Sirsa, Bhuj, Adampur, Srinagar, Jammu, and Pathankot; BrahMos missile storage sites in Beas and Nagrota; S-400 air defence batteries at Adampur and Bhuj; and various military logistics and intelligence installations responsible for instigating violence against Pakistani civilians.

Across the Line of Control (LoC), enemy posts, artillery positions, and headquarters involved in unprovoked firing on Azad Jammu and Kashmir were heavily damaged, with Indian units reportedly raising white flags and calling for restraint.

Cyber Front and UAV Superiority

ISPR revealed that the operation also featured advanced cyber offensives to disrupt Indian military communication and logistics networks. Dozens of armed Pakistani drones flew over major Indian cities, including New Delhi, demonstrating Pakistan’s long-range unmanned aerial capabilities.

Western Front and Counter-Terrorism

While engaged on the eastern front, Pakistan simultaneously faced a surge in Indian-sponsored terrorist activity in Khyber Pakhtunkhwa and Balochistan. Despite this, the armed forces conducted swift and effective counter-terror operations in the western region, proving their operational readiness on multiple fronts.

Acknowledgments and National Unity

ISPR extended heartfelt gratitude to the brave soldiers, airmen, and sailors who contributed to the success of the operation. Special appreciation was given to the youth of Pakistan for playing a frontline role in the information domain, and to the national media for resisting Indian disinformation campaigns.

The Armed Forces also thanked the diplomatic corps, political leadership, and Prime Minister of Pakistan for their unified stance, strategic decisions, and support during the crisis. Pakistani scientists and engineers were commended for their role in developing indigenous defence technologies that proved vital in the operation’s success.

A Message to the World

Despite the scale of the offensive, ISPR emphasised that Pakistan’s response was “precise, proportionate, and restrained,” targeting only those responsible for atrocities against Pakistani civilians. “Let no one doubt that any violation of Pakistan’s sovereignty will be met with a comprehensive and decisive response,” the statement concluded.

“They plan and Allah plans. And Allah is the best of planners.” — Surah Al-Anfal.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

CM Maryam visits CMH to inquire after the Ghazis

Published 13 May, 2025 06:15am

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif visited CMH Hospital to inquire after the Ghazis. She met the officers and soldiers who sustained injuries during the Indian aggression. She conversed with the Ghazi officers and soldiers undergoing treatment in the surgical ward and inquired about their well-being.

The Chief Minister prayed for the speedy recovery of the injured officers and soldiers. She appreciated the level of courage and determination of the Ghazi officers and soldiers displayed to combat Indian aggression. She paid glowing tributes to the courage and bravery of the Ghazi officers and soldiers. Corps Commander Lahore expressed gratitude to the Chief Minister for paying a visit.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

IG Punjab commends police force for ‘excellent performance’

Published May 13, 2025 Updated May 13, 2025 08:17am

LAHORE: Inspector General Police Punjab Dr Usman Anwar has commended the police force for their excellent performance during the border tensions. IG Punjab said that the performance of all police formations including CTD, Special Branch, SPU, and Elite remained outstanding.

Full support was provided to the Pakistan Army, security, and relevant institutions during the war-like situation. Punjab Police remained on high alert and stood shoulder to shoulder with the Pakistan Army, while affected locations were immediately cordoned off.

Police personnel took active part in rescue, relief, and aid activities. Under the War Book SOPs, complete coordination was maintained with Civil Defence, Rescue, District Administration, and relevant institutions.

Strict vigilance was maintained on the possible cowardly intentions of terrorists, miscreants, and anti-state elements. Through operational and strategic planning and preventive measures, the protection of internal borders of the country was ensured.

Security and law & order situation remained improved across the province including Lahore, and no untoward incident occurred. To deal with the emergency situation, preventive measures, mock exercises, search and combing operations, and flag marches were conducted.

Dr Usman Anwar further said that security has been enhanced at foreign embassies, sensitive installations, and development projects. Punjab Police is alert and will foil all attempts by the battlefield-defeated enemy to sabotage peace. In the tense situation, the entire police force deserves congratulations for holding terrorists, anti-state, and criminal elements accountable.

Meanwhile, Punjab Police’s mission to secure the internal borders of the country is ongoing, under which intelligence-based search; sweep and combing operations are being carried out.

The spokesperson of Punjab Police, while sharing the details, shared that Punjab Police conducted 412 search, sweep and combing operations across the province including Lahore during the last 24 hours. 14,219 suspicious individuals were checked and interrogated, while 52 suspicious persons were taken into custody.

212 proclaimed offenders involved in serious crimes, 37 court absconders and 45 habitual criminals were arrested. A large quantity of illegal weapons and bullets were also recovered from the possession of criminals and suspicious individuals.

During operations against criminal elements, one criminal was neutralized and five were arrested in injured condition. IG Punjab said that in order to hold terrorists and anti-state elements accountable, search, sweep and combing operations must continue.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

India’s pride has been crushed: PTI

Published 13 May, 2025 06:15am

ISLAMABAD: Chairman of Pakistan Tehreek-e-Insaf (PTI) Barrister Gohar Ali Khan, Monday, lauded Pakistan’s decisive 6-0 victory over India as a “historic moment of national unity and divine triumph.”

Calling it “a day of the nation,” Gohar said the entire country stood united in celebration, adding that the armed forces “salute Pakistan” for its show of strength and resolve.

“India’s pride has been crushed. The world has seen a strong, independent Pakistan demonstrate its power in real terms,” he declared.

He revealed that he offered a prostration of gratitude to Allah, attributing the victory to divine grace. However, he was quick to note that this success marks “not the end, but the beginning” of a larger geopolitical journey.

“We still have major issues to settle—Kashmir, the Indus Waters Treaty, the border. We must not become complacent,” he said, warning that any aggression imposed on Pakistan will be met with fierce defence.

Gohar claimed that an Indian general admitted India had requested a ceasefire, but “Pakistan responded with strength, not softness.” He added, “Even India now admits—this is not the Pakistan of the past.”

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

LCCI holds rally to show solidarity with armed forces

Published 13 May, 2025 06:15am

LAHORE: The Lahore Chamber of Commerce and Industry organized a passionate rally to demonstrate unwavering solidarity with the Armed Forces of Pakistan, especially in light of the recent developments where the Pakistan Armed Forces delivered a historic and exemplary response to enemy aggression.

The rally was led by LCCI President Mian Abuzar Shad along wih Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry joining hands with thousands of patriotic traders from across the city.

The participants waved national flags, chanted powerful slogans such as “Pakistan Zindabad” and “Pak Fauj Zindabad”, creating an electrifying atmosphere of unity and patriotism.

Addressing the participants, Mian Abuzar Shad paid rich tribute to the Pakistan Armed Forces for their valor, precision and professionalism. He said that the way our military has shattered the enemy’s arrogance and given a jaw-breaking response is nothing short of historic. It has restored national pride and boosted the morale of every Pakistani.

He further said that the business community not only values the sacrifices of the Armed Forces but also acknowledges their role in maintaining peace, stability, and national sovereignty. Today’s rally is a testament that the business community stands shoulder to shoulder with our brave soldiers, ready to support them in every possible way.

LCCI Senior Vice President Engineer Khalid Usman said that our nation is proud of its Armed Forces, and today, every Pakistani feels more secure and confident. The entire business community supports our defenders of the motherland with full conviction. We are united like a rock.

LCCI Vice President Shahid Nazir Chaudhry said that our Armed Forces have once again proven that Pakistan is not to be underestimated. Their timely and powerful response to Indian aggression has sent a clear message to the world. We salute their courage and professionalism.

Participants of the rally declared their resolve to protect and promote Pakistan’s national interest, economic independence, and territorial integrity. They said that peace and economic prosperity go hand in hand with a strong, respected and capable defense system.

The rally concluded with special prayers for the martyrs, for the continued success of Pakistan’s Armed Forces, and for the prosperity and stability of the country.

The Lahore Chamber’s initiative has once again expressed the unity of the nation and shown that the trader community remains a vital pillar of national strength and solidarity.

Meanwhile, Former President of the Lahore Chamber of Commerce & Industry sand prominent business leader Muhammad Ali Mian has paid glowing tribute to the Armed Forces of Pakistan, particularly the Pakistan Air Force, for delivering a historic and befitting response to Indian aggression.

In a statement, Muhammad Ali Mian said that the firm and resolute retaliation by Pakistan has become a proud chapter in history. He added that both the nation and the Armed Forces of Pakistan stand victorious, while the martyrs have achieved eternal glory. The entire nation salutes our valiant warriors and mujahideen and will forever remember the sacrifices made by our martyrs in the defense of the motherland.

Highlighting the precision and intensity of the recent military response, Muhammad Ali Mian said the decisive blow delivered by our courageous forces, especially the Air Force, has not only stunned India but has also established Pakistan’s military prowess on the global stage. The world has now realized that Pakistan possesses a highly professional, capable and brave military force that responds with action rather than mere rhetoric.

Muhammad Ali Mian expressed hope that, God willing, Kashmir would soon be freed from Indian occupation.

Former LCCI president expressed confidence that just as Pakistan has triumphed on the military front, similar historic victories will soon be achieved in the economic arena as well.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-13

NA praises armed forces for exemplary professionalism, vigilance, courage

Published 13 May, 2025 06:15am

ISLAMABAD: The National Assembly came together in a show of unanimous support on Monday, passing a resolution lauding the country’s armed forces for their “exemplary professionalism, vigilance, and courage” in defending Pakistan’s sovereignty amid unprovoked Indian aggression.

In a powerful display of political unity, lawmakers across the spectrum joined forces to commend the military’s response, which they praised for demonstrating exceptional restraint and responsibility.

The resolution, moved by Law and Justice Minister Azam Nazeer Tarar, emphasised the measured yet firm retaliation to India’s hostile actions.

Before presenting the resolution, Minister Tarar stressed that it was drafted in consultation with all parliamentary parties, underscoring the bipartisan nature of the support for the armed forces.

A key aspect of the resolution was its tribute to the martyrs who laid down their lives defending the nation. Lawmakers observed a moment of reverence, acknowledging their ultimate sacrifice as a symbol of national pride and resilience.

The House bowed in humility before Allah, expressing gratitude for the strength and honour granted to Pakistan in defending its territorial integrity.

In a display of national unity, the resolution congratulated the people of Pakistan for rising above political differences and standing in solidarity with their leadership, sending a powerful message of collective strength.

The National Assembly also expressed heartfelt thanks to Pakistan’s allies, who offered support at this critical juncture, reaffirming the country’s commitment to regional and global peace.

A significant portion of the resolution reiterated Pakistan’s dedication to dialogue, emphasising that stability in South Asia can only be achieved through sincere and structured negotiations.

It called for increased international engagement to address the Kashmir dispute in line with UN Security Council resolutions, while also highlighting the importance of fully implementing the Indus Waters Treaty (IWT).

With an eye on national security, the House emphasised the protection of Pakistan’s water rights as a vital component of its sovereignty.

Through the resolution, the House reaffirmed its commitment to safeguarding Pakistan’s interests and promoting peace, unity, and security both domestically and across the region.

At the onset of the session, the House offered Fateha (prayers) for the soldiers and civilians who embraced martyrdom during recent skirmishes with India.

Copyright Business Recorder, 2025

World Print 2025-05-13

‘Facts must not be the casualty in any conflict’: CPJ

Published 13 May, 2025 06:15am

NEW DELHI: The Committee to Protect Journalists condemns the nationwide block on access to The Wire independent news site as the latest act of media censorship.

“Facts must not be the casualty in any conflict,” said Beh Lih Yi, CPJ’s Asia program coordinator. “Blocking The Wire’s website and the social media accounts of other news outlets is an alarming attempt to stifle critical journalism at a time when independent reporting is more essential than ever. We call on the Indian government to immediately lift the blockade on The Wire and cease using national security concerns as an excuse to suppress media freedom.”

The internet block coincides with a significant escalation in tensions between India and Pakistan, which have traded fire across their frontier in disputed Kashmir this week.

The Wire criticized the blocking as “arbitrary and inexplicable” and a violation of the constitutional guarantee of press freedom. Internet Service Providers told The Wire that they had received orders to block the site under a government directive issued under the Information Technology Act, 2000.

The social media platform X said it had received executive orders to block over 8,000 accounts in India, including the Kashmir-based news outlets Free Press Kashmir and The Kashmiriyat and Maktoob Media, which focuses on human rights and minorities.

Separately, on May 7, The Hindu newspaper said it had deleted a post on X, which reported that three Indian jets had crashed in Jammu and Kashmir, because it did not have “on-record official information.”

Journalist Hilal Mir has been placed under preventive detention until May 13 for allegedly spreading anti-national content and promoting secessionist ideology online. In late April, the government blocked one Indian and 19 Pakistani YouTube channels, one journalist was assaulted and two political commentators and satirists face legal action over their coverage of the Kashmir attack. The information ministry has banned live coverage of anti-terrorist operations, citing security risks.

Opinion Print 2025-05-13

After the victory

Published May 13, 2025 Updated May 13, 2025 07:42am

Pakistan’s gains go far beyond the battlefield. India has lost more than just six aircraft. Welcome to the dawn of a new era.

This era in South Asia will now be defined by greater hostility, increasing threats and enhanced prospects of conflict. Pakistan has given India a bloody nose. This is arguably the biggest humiliation India has suffered in decades. For Pakistan Operation Bunyan al Marsoos represents arguably the greatest military victory over India. This is indeed a defining moment for both countries, for the region, and in many ways for the world.

The nature of Pakistan’s victory needs to first be cleansed from the fog of war. As the adrenaline subsides and the post-conflict dust settles down, both countries will begin to absorb – and possibly acknowledge – the extent of the damage wreaked upon each other. It is this cold and calculated assessment that should become the basis of how we move forward from here and navigate through fresh Pakistan-India dynamics in the post-Pahalgam period.

Pakistan’s victory is not measured in material terms alone. What transpired in the time between Indian missile attacks on Pakistan and the ceasefire on Saturday is truly a remarkable series of events that have shocked India and even surprised Pakistan. The narrative spawned by these events – fuelled by ingredients that people did not know could come into play – is now cementing the perception that Pakistan won and India lost.

Here’s what we know in terms of damage: India destroyed some mosques in its first missile attack and martyred more than two dozen innocent Pakistanis including children. Later in the conflict it fired missiles at some PAF bases and damaged infrastructure and an aircraft that should be operational soon, as per the military spokesman.

Pakistan destroyed India’s six aircraft, including three Rafales. Then in the counterstrike, we targeted more than two dozen of their air bases as well as brigade headquarters and inflicted serious damage to all. More importantly, we annihilated their famed Russian-made S-400 air defence system. In addition, we downed more than 70 Indian drones.

Even if we were to factor in enhancement and suppression of information, and even if we were to – for argument’s sake – state that damage to respective air bases was quasi-equivalent (being charitable to Indian claims), the unmistakable Pakistani victory is still evident in terms of PAF besting IAF and downing Indian jets and destroying their S-400 air defence system. There can be no debate on these aspects.

But this is just the start.

India may buy new Rafale jets from France, and it may purchase another S-400 air defence system from Russia, and it will surely repair its damaged military infrastructure. This much is given. But what it cannot buy, and what it cannot repair is the crushing blow to its image, its brand, and its aspirations as a net security provider for the region.

This humbling of Brand India is a story that weaves through the collective and individual failures of the Indian government, Indian air force, Indian media and also, to a great deal, Indian society. In a span of a few weeks – starting from the Pahalgam killings – India has lost initiatives, lost jets, lost credibility and lost face.

This was a needless conflict, with needless destruction and needless loss of precious lives. But Narendra Modi pushed for it, as did their war-mongering media and public opinion that was visible beyond India’s borders. They collectively bayed for blood. Pakistani blood. They did so because perhaps unbeknownst to them, they had become prisoners of their own rhetoric, and victims of their own delusions. The entire country, it seemed, had gone into a trance that divorced it from reality.

This trance was shattered when Pakistan’s J-10C-fired PL15 missile smashed into an Indian Rafale. And then the second. And third. Within an hour five Indian aircraft – along with a nation’s delusions – had crashed into the ground in a heap of burning metal and flamed out egos.

Indians that should know, know that India has been defeated. As hours turn into days and days into weeks, other Indians’ delusions will turn into denial, denial into anger, and anger into depression. Yes, there will descend onto the entire Indian society a blanket of depression that may – one hopes – finally trigger some soul searching and introspection. Such an introspection should lead to a gradual realization of a reality that has emerged in the wake of the conflict: India is less than what Indians believe, and Pakistan is more than they acknowledge. Today they stand diminished. We stand taller.

But we also need to acknowledge a reality: Pakistan and India will now live in a perpetual state of hostility for as long as one can foresee. We need to be clear and consistent in our policy. This policy requires us to understand that we need to now invest in our air force and our missile programmes, and in all other areas of modern warfare where we have excelled in this conflict. Where will the money come from? That’s where the real challenge for our leaders lies. Focus on the economy, reallocate funds, prioritise budgets for immediate challenges and, above all, leverage this victory for internal and external reform.

One victory done. Now let us start preparing for the next one.

Copyright Business Recorder, 2025

Fahd Husain

The writer is a senior journalist & political commentator. His X handle is @fahdhusain

Pakistan Print 2025-05-13

Sports Board Punjab holds rally to rejoice victory against India

Published 13 May, 2025 06:15am

LAHORE: Sports Board Punjab (SBP) organized a rally from National Hockey Stadium to Gaddafi Stadium on Monday, to express solidarity with Pakistan armed forces after Pakistan’s memorable victory in the week-long war against arch rivals India under operation ‘Bunyan un Marsoos’.

Director General Sports and Youth Affairs Punjab Khizar Afzaal Chaudhry led the rally which was participated by Director Admin Dr M Kaleem, Director Sports Rana Nadeem Anjum, Deputy Director Chand Parveen, Deputy Director Tariq Khanzada, other top officials of Punjab Sports Department, hundreds of athletes and a large number of SBP employees.

Director General Sports Punjab Khizar Afzaal Chaudhry also distributed sweets among the participants of rally.

Talking to media on the occasion, Khizar Afzaal Chaudhry said, “We are proud of our forces. Pakistan army has demonstrated professional approach while defeating India. Our government and the army have won the hearts of the nation.”

He said downing India’s modern Rafale planes is a big achievement. “The spirit and discipline exhibited by Pakistan army and air force have never been seen in the world. Literally, Pakistan has proved its unique military prowess quite effectively against India,” he said.

Khizar Afzaal Chaudhry said that American President Donald Trump’s tweet about Kashmir, in which he expressed his willingness to mediate for the resolution of Kashmir issue, has proved that Kashmir is a disputed area despite India’s so-called claims and efforts. “After winning war against India, we are quite upbeat that Pakistan will be able to resolve the decades-old Kashmir issue in accordance with United Nations resolutions,” he said.

He further said Pakistan has taught a befitting lesson to India and our neighbour will not forget this lesson for a long time. “The way Pakistan compelled India to beg for ceasefire definitely it was a big diplomatic victory for our country,” he said.

Answering a question, he said Pakistani nation has demonstrated spirit and resilience during the war days and proved that it is impossible for India to defeat such a brave army and nation. "Not only India but no power of the world can defeat Pakistani nation whose foremost ambition is to achieve martyrdom,” he said.

Copyright Business Recorder, 2025

Opinion Print 2025-05-13

Back from the brink

Published May 13, 2025 Updated May 13, 2025 07:39am

Pakistan and India have managed to break out of the escalatory cycle that began on the night of May 6-7, 2025 after India retaliated with cross-border attacks on Pakistan in response to the Pahalgam, Indian-Held Kashmir, incident in which 26 Indian tourists were killed by gunmen.

India accused Pakistan of being behind the attack, claimed by a hitherto unknown breakaway group of the Lashkar-i-Tayyaba calling itself Kashmir Liberation.

The Pakistani response to the Indian attacks on May6-7 surprised India and the world by their effectiveness. The crowning prize was Pakistan’s downing of five Indian fighters, including three state-of-the-art Rafale jets.

Tit-for-tat exchanges from the Line of Control (LoC) in Kashmir across the length and breadth of both countries seem to have ended in Pakistani successes. Air, missile and drone components were used by both sides.

It was this writer’s view when hostilities broke out that the danger of retaliatory attacks by both countries risked escalating into an all-out war with the looming overhang of an unthinkable nuclear exchange, which has the potential not only of wiping out millions in both countries, but whose effects would be felt in the region and even the entire globe, such is the megaton capability of both countries’ nuclear arsenals.

During the Cold War, the average flying time of a missile between the Soviet Union and the US was 30 minutes. Despite sophisticated fail-safe systems in place on both sides, they came within a hair’s breadth of a nuclear holocaust innumerable times because of technical failures or human error. The average flying time of a missile between Pakistan and India is three minutes.

The degree of preventive fail-safe systems is nowhere near what the superpowers possessed. That implies that any technical or human error could unleash a nuclear Armageddon because of the paucity of reaction time.

Given this danger, it was my view that the world powers would not allow things to go beyond an unacceptable limit. Lo and behold, in deft secret diplomacy, the Trump administration managed to persuade both Pakistan and India to cease and desist in favour of a ceasefire.

Despite some violations, this precarious ceasefire appears to be holding. Washington also revealed that President Trump would get involved in efforts to resolve the long festering Kashmir issue.

Also, that Pakistan and India would soon open a long suspended dialogue on neutral soil. Meantime, at the time of writing these lines, the expected talks between the DGMOs of both sides were still to start, having been delayed more than once from their noon schedule.

The interesting question remains why has this sequence of events transpired now? A suggested explanation could be that after the reversal of Indian-Held Kashmir’s autonomy under Article 370 in 2019, the Indian army’s unremitting repression had pushed back the Kashmir liberation struggle. Modi’s government trumpeted the return of ‘normalcy’ in Indian-Held Kashmir, encouraging tourism, the mainstay of Indian-Held Kashmir’s economy.

Kashmir Liberation’s strike at tourism in Pahalgam then makes sense as an attempt to disrupt and roll back tourism and expose the Modi government’s claims of restored normalcy.

Since 2019, starting with the Indian aerial incursion into Azad Jammu & Kashmir, Modi’s government seems bent on enhanced retaliation against Pakistan for any action by Kashmir liberation fighters. The dangers in this approach have been outlined above.

There will be time of course to examine and reassess the changed nature of even limited modern warfare. Technology has enabled fighting from a distance, with the possibility that the protagonists may not even catch sight of each other, except perhaps as digital signatures.

While military targets will always be first choice, the chances of collateral civilian casualties have been enhanced by the reach and lethality of today’s ‘fire and forget’ weapons.

While Pakistan’s has been a well-coordinated three services (land, air and sea) effort, the world and its military experts will no doubt be burning the midnight oil for some time to understand and explicate the implications of this sharp, mercifully short exchange between two nuclear weapons armed neighbours.

Let us also hope that Pakistan and India, having drawn back from the brink, thanks to US intervention (again), will now act wisely, conduct a meaningful dialogue and recognise that war is neither the answer nor can yield wresting of each countries’ Kashmir area of control from the other.

As even the saboteur of the 1999 Vajpayee-Nawaz rapprochement and architect of the Kargil war General Musharraf realized when in power, there is no alternative to a compromise over Kashmir that will not change borders but will allow divided Kashmiri families on both sides to meet, trade to flourish across the LoC, and pave the way for gradual, incremental demilitarisation of the area.

Much as the principle of the right of self-determination for the Kashmiri people still rests cherished in our hearts, realism must now overcome emotionalism and a peaceful resolution of this bleeding wound be sought for and if achieved, adhered to.

Copyright Business Recorder, 2025

Rashed Rahman

[email protected] , rashed-rahman.blogspot.com

Business & Finance Print 2025-05-13

Increasing trade substantially: APTMA welcomes Trump’s statement

Published 13 May, 2025 06:15am

ISLAMABAD: The All Pakistan Textile Mills Association (APTMA) welcomed the recent statement by US President Donald J Trump on increasing trade substantially, calling it a positive step toward promoting peace, diplomacy, and regional stability.

“We note President Donald J Trump’s intent to increase trade, substantially,” with Pakistan as an encouraging signal for the future of US–Pakistan economic engagement — especially in the textile sector, which serves as the backbone of Pakistan’s export economy and provides livelihoods to millions,” said APTMA Chairman Kamran Arshad in a statement on Monday.

“His statement is a timely recognition of the crucial role trade can play in this regard.”

According to the APTMA, the United States remains Pakistan’s largest export market, with textiles comprising nearly 80% of total exports to the US. Pakistan’s textile industry covers the entire value chain and has long been a significant global supplier of a diverse range of textile products.

Additionally, Pakistan is the second-largest importer of US cotton and has taken proactive steps to increase its cotton imports, helping address the existing trade imbalance. The APTMA expressed the hope that in light of this, the US would reduce existing and proposed tariffs on Pakistani exports, enhancing market access and unlocking greater trade opportunities.

The association also voiced its support for international efforts — especially those led by the United States—aimed at fostering lasting peace in South Asia and resolving long-standing regional disputes through dialogue and mutual understanding.

“We recognize that economic cooperation and regional stability are deeply interconnected, and we remain committed to promoting peace through trade-led engagement,” the APTMA chairman stated.

Building on this momentum, the APTMA said it looks forward to strengthening a resilient and mutually beneficial US–Pakistan trade partnership grounded in respect, national sovereignty, and shared economic goals.

Copyright Business Recorder, 2025

Print Print 2025-05-13

Türkiye envoy greets Pakistan PM Shehbaz

Published May 13, 2025 Updated May 13, 2025 08:09am

ISLAMABAD: Türkiye’s Ambassador to Pakistan Irfan Neziroglu on Monday congratulated Prime Minister Shehbaz Sharif and Pakistani nation on their military and diplomatic success, saying Turkish people were thrilled with Pakistan’s achievements and praised its commitment to peace in South Asia.

The Turkish ambassador is the first-ever top foreign diplomat who met the prime minister and openly congratulated the prime minister over its crushing response to India, which led to a ceasefire between the two archrivals.

During a meeting with Prime Minister Shehbaz Sharif at the Prime Minister’s Secretariat, the ambassador said that President Erdogan was keen to further strengthen the strong fraternal ties between the two countries in every sphere and high level institutional engagements would continue in this regard.

Turkiye shows ‘strong solidarity’ with Pakistan following Indian missile attacks

During their meeting, the prime minister expressed his profound gratitude to President Erdogan for standing resolutely with Pakistan during the recent tensions in South Asia.

Through his steadfast support, he added, President Erdogan had demonstrated, once again, his love and affection for the people of Pakistan. He also thanked the brotherly people of Türkiye, who stood firmly behind their Pakistani brethren during these challenging days, thus, adding a new and glorious chapter in the history of Pakistan-Türkiye fraternal ties.

While paying rich tribute to the valiant Armed Forces of Pakistan, who out-manoeuvred the enemy and dealt a crushing blow to its nefarious designs through the successful conduct of “Operation Bunyan-un-Marsoos”, PM Sharif stated that the entire nation was thankful to the Almighty on this historic victory.

He reaffirmed that Pakistan had always desired peace in South Asia but would never accept any violation of its sovereignty and territorial integrity, adding it was in this spirit that Pakistan had agreed to accept the ceasefire understanding with India.

On the bilateral front, the prime minister expressed his satisfaction at the positive trajectory of Pakistan-Türkiye brotherly ties, that were moving at a fast pace since the historic visit of President Recep Tayyip Erdogan to Islamabad in February this year. Recalling his visit to Ankara in April, PM Sharif stressed upon the need to ensure timely implementation of all the important decisions taken during the high-level meetings between both countries.

In this regard, he said the Joint Commission at the level of foreign ministers of the two countries may be convened as soon as possible.

Copyright Business Recorder, 2025

Print Print 2025-05-13

Talks between military operation chiefs of Pakistan, India focus on ceasefire

Published May 13, 2025 Updated May 13, 2025 09:21am

ISLAMABAD: The Director Generals of Military Operations (DGMOs) of Pakistan and India on Monday evening held talks via hotline fostering regional stability.

The exchange, confirmed by official sources, marks a step forward in efforts to de-escalate tensions following the recent Pahalgam terror incident.

The telephonic communication took place between Major General Kashif Abdullah of the Pakistan Army and Lt Gen Rajiv Ghai of the Indian Army.

Surprisingly, Pakistan and India agree to ceasefire

According to diplomatic and military sources, this was the second such engagement between the two senior officials in the aftermath of the Pahalgam attack.

Sources revealed that the Pakistani DGMO assured his Indian counterpart of Pakistan’s full commitment to upholding the ceasefire agreement.

“There is no indication of further escalation from Pakistan’s side,” the sources added, highlighting the defensive and cooperative tone of the talks.

This interaction follows the May 10 agreement between both nations to halt all military actions—on land, sea, and air—with immediate effect.

The understanding was reached after a hotline contact initiated by Pakistan’s DGMO, a move welcomed by both sides.

Copyright Business Recorder, 2025

Print Print 2025-05-13

IWT talks resumption: No official word from New Delhi yet

Published May 13, 2025 Updated May 13, 2025 09:30am

ISLAMABAD: Pakistan has yet to receive any official communication from New Delhi regarding the resumption of talks on the Indus Water Treaty (IWT), which remains unilaterally suspended by India since April 23, 2025—a day after the Pahalgam incident that claimed the lives of 26 tourists in Indian-occupied Jammu and Kashmir (IOJ&K).

Authorities in Islamabad have reported consistent fluctuations in water inflows from IOJ&K, particularly at the Marala head-works on the Chenab River, where a variation of 8–10 percent is being recorded without any regular pattern.

The Indus Water Treaty, brokered by the World Bank and signed in Karachi in 1960 by Pakistan’s President Field Marshal Ayub Khan and Indian Prime Minister Jawaharlal Nehru, outlines the water-sharing arrangement between the two archrivals.

‘India can’t scrap Indus Waters Treaty unilaterally’

Under the treaty, India has control over the eastern rivers (Sutlej, Beas, and Ravi), while the western rivers (Indus, Chenab, and Jhelum) are allocated to Pakistan.

Over the years, Pakistan has raised objections over several hydroelectric projects initiated by India on the Jhelum and Chenab rivers, bringing cases before the International Court of Justice (ICJ) and the World Bank.

While a ceasefire is currently being observed between Islamabad and New Delhi—facilitated through diplomatic efforts by the international community, particularly U.S. President Donald Trump — there are still no indications of direct bilateral talks through diplomatic channels at any neutral place.

As and when discussions begin, Pakistan’s primary agenda will include the immediate restoration of the Indus Water Treaty, the Kashmir issue, and India’s alleged support for anti-Pakistan elements in Balochistan and Khyber Pakhtunkhwa.

Legal experts in Pakistan argue that India cannot unilaterally suspend the treaty, as the World Bank acts as its guarantor.

When asked whether the Indus Water Treaty remains suspended and if talks are expected soon, a senior Pakistani official said, “I have not heard anything from India so far in this regard.”

Another official confirmed that while water continues to flow from IOJ&K into Pakistan, noticeable fluctuations are being observed.

“We are seeing up to 10 percent variation in water inflows at Marala on the Chenab River. The capacity at Marala is about 0.8 to 0.9 million cusecs, but recent inflows have ranged between 25,000 and 33,000 cusecs,” he said, adding that India appears to be intermittently releasing and halting water flows.

On Monday, Indus at Tarbela: inflows were 118900 cusecs and outflows 82000 cusecs, Kabul at Nowshera- inflows 40600 cusecs and outflows 40600 cusecs, Khairabad bridge - inflows 157600 cusecs and outflow 157600, Jhelum at Mangla- inflows 44700 cusecs and outflows 28000 cusecs, Chenab at Marala - inflows 29400 cusecs and outflows 10000 cusecs.

No variation has been recorded so far in the Neelum River, with water currently stored in the Mangla reservoir.

Copyright Business Recorder, 2025

Editorials Print 2025-05-13

Indus Waters Treaty

Published May 13, 2025 Updated May 13, 2025 08:07am

EDITORIAL: The 1960 World Bank brokered Indus Waters Treaty (IWT), that remained operational even during the three wars between India and Pakistan, was announced to be in abeyance on 24 April 2025 after the Pahalgam attack a day earlier, 22 April, that killed 25 Indian and one Nepali tourist.

The treaty would remain in abeyance until further notice, so revealed high level sources, on the grounds that “Pakistan violated the preamble of the IWT which says it is being done with goodwill and good neighbourliness.”

With overwhelming evidence that India’s defence forces performed poorly with Western technology in contrast to Pakistan’s technical superiority sourced to the Chinese, Leader of the Opposition Rahul Gandhi’s letter to the Indian Prime Minister requesting an immediate special session of parliament to address India’s escalating security and diplomatic situation requiring parliamentary attention has merit.

By 10 May, when the ceasefire effective 5pm was declared by US President Donald Trump on Truth Social, the Indian media reported that the IWT will remain in abeyance. And this should be a source of very serious concern to Pakistani officialdom as well as the general public.

India as the upper riparian country has obligations under the international law that necessitate that it does not construct dams and/or divert water away from/or to Pakistan on the Western rivers (Indus, Jhelum, Chenab) that are allocated to Pakistan under the IWT; the Eastern rivers — Ravi, Beas, Sutlej — are allocated to India. Or, in other words, India does not weaponise water by releasing water during times of floods that can inundate cities along the route or stop water flows during times of drought.

A cable by former US Ambassador David Mulford in India, dated 25 February 2005, on the then simmering dispute over the construction of Baglihar dam by India, a construction violative of the IWT, expressed the hope that “this politically charged impasse” would not spiral into “Islamabad’s worst case scenario, that India’s dams in Jammu and Kashmir have the potential to destroy the peace process of even lead to war.” This was recently reaffirmed in a statement issued on 25 April after a high-level meeting chaired by the Prime Minister attended by the three services chiefs as well as senior cabinet members noted that “the Treaty (IWT) is a binding international agreement brokered by the World Bank and contains no provision for unilateral suspension.

Water is a Vital National Interest of Pakistan, a lifeline for its 240 million people, and its availability will be safeguarded at all costs. Any attempt to stop or divert the flow of water belonging to Pakistan as per the Indus Waters Treaty, and the usurpation of the rights of lower riparian will be considered as an Act of War and responded with full force across the complete spectrum of National Power.”

The immediate resuscitation of the IWT is of critical national importance to Pakistan, and one would hope that with negotiations between the two countries scheduled to start on Monday (yesterday) this particular item must lead the agenda.

India no doubt understands the importance of the IWT to Pakistan’s ability to meet the country’s food needs, provide employment to 37 percent of the total work force and minimise food imports.

It is, therefore, important to note that without the revival of the IWT the war clouds will not disperse and while Kashmir remains a major irritant for Pakistan, as is being highlighted in the Western media, our very survival rests with the IWT becoming functional again.

Copyright Business Recorder, 2025

Business & Finance Print 2025-05-13

Cargo operations continue without interruption: KPT

Published 13 May, 2025 06:15am

LAHORE: The Karachi Port Trust (KPT) Acting Chairman Faheemur Rehman Saigol has stated that despite war like situation and heightened tensions with India and attempts to undermine Pakistan’s economy, the country’s cargo operations continued without interruption, which is a great achievement.

Faheemur Rehman Saigol, who is also the chief of Pakistan Industrial and Traders Associations Front, while addressing a meeting of the traders delegation who met him here at PIAF office on Monday to discuss the issues of import and export hurdles, commended the Karachi Port Trust team, the technical staff, and the military for their tireless efforts to keep the country’s ports fully operational amid these challenging circumstances.

He said Pakistan’s ports are a critical part of the nation’s infrastructure, playing a central role in facilitating trade and commerce. In recent times, with rising geopolitical tensions, there were external attempts to disrupt these operations, but the resilience shown by Pakistan’s port operators, supported by the military’s strategic security efforts, has proven to be unmatched. The business community has also stood firm, ensuring the flow of goods without any interruption.

The KPT Acting Chairman expressed appreciation for the seamless handling of cargo operations, emphasizing the commitment of KPT’s staff and other stakeholders. “While India claims that Pakistan’s ports have been destroyed, these allegations are baseless.

The operations have continued without a second’s pause, proving that our ports remain a vital part of the global trade network,” the KPT Acting chairman stated. “These actions show the strength of Pakistan’s economy and the dedication of the people who work relentlessly to keep it moving forward.”

Faheemur Rehman Saigol further highlighted the critical role played by Pakistan’s armed forces, particularly the Navy and Army, in defending the country’s economic infrastructure. “Despite limited resources and a weaker economy, Pakistan’s military has stepped up to safeguard our ports and ensure that the nation’s lifelines remain intact. Their courage and dedication in the face of external threats are commendable,” Saigol added.

He further emphasized the importance of collaboration between the military and the civilian sectors in ensuring national security and economic stability. “The smooth operation of our ports and the uninterrupted handling of cargo is a direct result of the brave actions of our armed forces and the unwavering commitment of the KPT team,” Saigol said.

He stressed that the smooth operation of Pakistan’s ports amidst these trying times was not only due to the resilience of the KPT team but also a reflection of the collective strength of the nation. “The cargo operations are proof that we, as a nation, are standing strong against any attempt to destabilize our economy,” Saigol remarked. “We will continue to maintain this momentum and ensure that our economic strength remains untouchable.”

Nasrullah Mughal, Senior Vice Chairman of PIAF expressed solidarity with the military and affirmed that the business community is fully prepared to face any challenge. “As businessmen, we understand the critical importance of keeping our economic borders secure. We stand united with our armed forces to protect Pakistan’s economic sovereignty,” Mughal stated. He went on to explain that the business community plays a vital role in both defending and growing the economy, which is as important as protecting the physical borders of the country.

Tahir Manzoor Chaudhry, Vice Chairman of PIAF, emphasized the role of the business community in defending the country’s economic frontiers. “Just as the army defends our physical borders, we, the businessmen and traders, protect Pakistan’s economic boundaries. Our commitment to keeping trade flowing, even in times of adversity, is unwavering,” Chaudhry added.

The KPT Acting Chief also called on all sectors of society to remain united and continue contributing to Pakistan’s economic stability. “The military and business community must work together to withstand these challenges. As long as we continue our operations smoothly and stay resilient, we will overcome any obstacles that come our way,” Saigol concluded. He further emphasized the significance of continued collaboration between the government, business leaders, and the military in maintaining economic stability.

The business community’s role in safeguarding Pakistan’s economic borders has never been more crucial. “We understand the vital role we play in ensuring that Pakistan’s trade remains uninterrupted and that our economic lifelines are kept secure,” said Mughal.

As Pakistan continues to face external challenges, the resilience shown by KPT’s operations and the commitment of the business community are crucial to ensuring that the country’s economy remains robust and secure.

Copyright Business Recorder, 2025

World

Indian PM Modi vows strong response to any future ‘terrorist attack’

Published May 12, 2025

NEW DELHI: Indian Prime Minister Narendra Modi vowed Monday to respond strongly to any future “terrorist attack”, and warned that New Delhi would not tolerate “nuclear blackmail” in the event of further conflict with Pakistan.

A weekend ceasefire which US President Donald Trump said he brokered appeared to be holding Monday after four days of intense jetfighter, missile, drone and artillery attacks – the worst violence between the two nuclear-armed neighbours since 1999.

Trump said Monday that US intervention had prevented a “bad nuclear war”.

“We stopped a nuclear conflict… millions of people could have been killed. So I’m very proud of that,” he told reporters at the White House.

Modi, in a televised address to the nation – his first since hostilities began last Wednesday – said Pakistan has chosen to attack rather than help it fight “terrorism”.

“If another terrorist attack against India is carried out, a strong response will be given,” he said.

The conflict followed an April 22 attack on tourists in Indian Illegally occupied Jammu and Kashmir (IIOJK) which killed 26 civilians.

India accused Pakistan of backing the attack, but Islamabad denied involvement.

Spiral to war

The alarming spiral towards all-out war began before dawn on Wednesday, when India launched missile attacks destroying what it called “terrorist camps” in Azad Kashmir.

Each side then accused the other of launching waves of warplane and drone strikes, as well as missile and artillery bombardments that killed at least 60 people on both sides.

“If Pakistan wants to survive, it will have to destroy its terror infrastructure,” Modi said Monday.

“India will strike with precision and decisiveness against the terrorist groups thriving under the cover of nuclear blackmail.

“India’s stand is very clear. Terror and talks cannot go together… Terror and trade cannot go together… Water and blood cannot flow together.”

His address came after the Indian army reported the “first calm night in recent days” in Occupied Kashmir and along its western border with Pakistan.

The flare-up in violence was the worst since the rivals’ last open conflict in 1999 and sparked global shudders that it could spiral into full-blown war.

Both sides claim success

Top India and Pakistan military officials held briefings late Sunday with each claiming the upper hand and warning they were ready to respond if there were fresh attacks.

“We have delivered the promise we made to our people”, Pakistan’s military spokesman Lieutenant General Ahmed Sharif Chaudhry said, calling it a “success on the battleground”.

“We have thus far exercised immense restraint so far and our actions have been focused, measured and non-escalatory,” said Indian Lieutenant General Rajiv Ghai.

Pakistan claimed to have downed five Indian fighter jets – something New Delhi has not commented on.

On Monday, people were trickling back to Poonch, a frontier town in IIOJK and one of the worst-hit places.

India reopened 32 airports on Monday that had been closed due to the conflict, authorities said.

Senior officers from Pakistan and India were reported to have spoken on Monday in order to further secure the ceasefire.

Abdul Basit at the S. Rajaratnam School of International Studies in Singapore said it would be about modalities of the ceasefire and not policy decisions.

The aim is to “avoid any miscalculations, because right now one spark could quickly move towards a nuclear catastrophe,” Basit told AFP.

Pakistan

Conflict with India won’t have large fiscal impact, says Aurangzeb

  • Finance minister says no need for new economic assessment
Published May 12, 2025
Pakistan Finance Minister Muhammad Aurangzeb speaks during a Reuters interview at the 2025 annual IMF/World Bank Spring Meetings in Washington, D.C., U.S., April 25, 2025. REUTERS
Pakistan Finance Minister Muhammad Aurangzeb speaks during a Reuters interview at the 2025 annual IMF/World Bank Spring Meetings in Washington, D.C., U.S., April 25, 2025. REUTERS

KARACHI: The recent military escalation with arch-rival India won’t have a large fiscal impact on Pakistan and can be managed within the current fiscal space, with no need for a new economic assessment, Pakistan’s Finance Minister said in an interview with Reuters on Monday.

Trade talks with the United States – which had played a key role mediating a ceasefire between the two countries – would likely have progress in “short order” and that Pakistan could import more high-quality cotton, more soy beans and was also exploring other asset classes, including hydrocarbons, Finance Minister Muhammad Aurangzeb said in the online interview.

On Monday, US President Donald Trump said the US is ready to help India and Pakistan after a ceasefire agreement, claiming trade was a big reason they “stopped fighting”.

Pakistan faces a 29% tariff on exports to the US due to an approximate $3 billion trade surplus, but this is currently under a 90-day pause announced in April.

The International Monetary Fund (IMF) on Friday approved a $1 billion loan disbursement to Pakistan as part of a larger $7 billion bailout agreement.

Trump says US is ready to help Pakistan, India with trade

Aurangzeb said Islamabad would receive the tranche disbursement on Tuesday.

The IMF executive board also approved a fresh $1.4 billion loan to Pakistan under its climate resilience facility.

The federal budget for the next fiscal year, starting July, will be finalised within the next three to four weeks, with scheduled budget talks with the IMF to take place from May 14-23, he said.

Regarding the India-Pakistan conflict, Aurangzeb described it as a “short duration escalation” with minimal fiscal impact, stating it can be “accommodated within the fiscal space which is available to the government of Pakistan”.

When questioned about potential increased military spending in the upcoming budget, Aurangzeb deferred comment, saying it was premature to discuss specific plans. However, he said: “Whatever we need to do in terms of ensuring that our defence requirements are met will be met.”

Aurangzeb said he expects the Indus Water Treaty, which India unilaterally suspended, to be reinstated and rolled back to where it was.

He said there is not going to be any immediate impact from India’s suspension and Pakistan does not “even want to consider any scenario which does not take into account the reinstatement of this treaty.”

Tensions between India and Pakistan began mounting after the April 22 attack in Indian Kashmir on Hindu tourists that killed 26 people, sparking the worst clashes between the nuclear-armed neighbours in more than two decades.

On Saturday a ceasefire in the Himalayan region was announced by Trump, following four days of fighting and diplomacy and pressure from Washington.

World

Trump says US is ready to help Pakistan, India with trade

  • US president says he stopped a nuclear conflict
Published May 12, 2025
Trump says US is ready to help Pakistan, India with trade

WASHINGTON: President Donald Trump said on Monday the United States is ready to help India and Pakistan in the wake of a ceasefire agreement that he says his administration helped broker.

Trade is a big reason why they stopped fighting, Trump said at an event at the White House.

“I’m very proud to let you know that the leadership of India and Pakistan was unwavering and powerful, but unwavering in both cases. They really were, from the standpoint of having the strength and the wisdom and fortitude to fully know and to understand the gravity of the situation,” he added.

“We stopped a nuclear conflict. I think it could have been a bad nuclear war, millions of people could have been killed. So I’m very proud of that.”

Pakistan

Pakistan, India military operations chiefs hold talks by phone

Published May 12, 2025

NEW DELHI: The military operations chiefs of Pakistan and India held talks by phone on Monday evening, broadcaster CNN-News18 said, two days after the neighbours reached a ceasefire agreement following intense fighting last week.

US President Trump says will work with Pakistan, India to resolve Kashmir issue

Dozens of people died as the arch rivals sent drones and other munitions into each other’s airspace over four days, a fortnight after an attack in Indian Illegally Occupied Jammu and Kashmir (IIOJK) that killed 26 people.

Stocks in Pakistan, India poised for relief rally after ceasefire

New Delhi said the attack was backed by Islamabad, an accusation Pakistan denied.

Perspectives

Holding the line: Journalism, integrity, and the Indo-Pak media divide

Published May 12, 2025

In times of war, the first casualty is often the truth. As tensions escalated between the nuclear-armed Pakistan and India during the recent conflict, media outlets on both sides found themselves at a crossroads.

For many in the Indian media, the choice seemed to lean heavily toward sensationalism – made up of unverified claims, dramatic narratives, and overt warmongering.

As a digital journalist working in a Pakistani newsroom during this period, I had a clear responsibility: not to mirror the chaos, but to rise above it.

In the heat of the moment, when patriotic emotions ran high and the pressure to “respond in kind” mounted, our newsroom held firm to its core principles. I didn’t resort to the level of false narratives or unverified claims.

PAF emerges as unfettered star of social media as netizens excoriate India’s narrative

Instead, I aimed for clarity, credibility, and calm in a sea of disinformation. I knew the stakes were too high for recklessness. Every video I published, every image I chose, and every word I typed had to meet one crucial standard: authenticity.

The digital news cycle moves fast – faster than traditional print or broadcast. With the click of a button, stories can go viral within minutes. In this kind of environment, it’s easy to prioritize speed over accuracy.

But I resisted that temptation. My focus was how to “counter” Indian media false narratives, and uphold journalistic ethics and report what we could verify.

While Indian media outlets flooded timelines with exaggerated casualty figures, dramatic reenactments, and hawkish rhetoric, I relied on official sources. So I could stand by what I published a week, a month, or a year from now.

My aim was to serve the public best not by feeding on their fears or fantasies, but by presenting them with the facts, which are largely inconvenient or unglamorous.

There’s a fine line between national pride and jingoism, and as journalists, we must know where that line is drawn.

It’s easy to whip up public sentiment with emotional slogans.

It’s much harder to practice restraint, especially when Indian media is doing the opposite. But it is in those moments of crisis our journalistic values are tested – and where I knew I must not fail.

The long-term consequences of misinformation during wartime are profound. False claims can escalate conflict, endanger lives, and poison public discourse for generations.

In hindsight, I take pride not just in the videos and images we published – but in the visuals and headlines I chose not to publish.

As journalists, especially in the digital age, we wield immense influence. That power must be exercised with responsibility, empathy, and unwavering dedication to the facts. Because even in war – perhaps especially in war – the truth matters most.

The article does not necessarily reflect the opinion of Business Recorder or its owners

Author Image

Hussain Afzal

Hussain Afzal is the Head of Multimedia at Business Recorder (Digital)

Life & Style

PAF emerges as unfettered star of social media as netizens excoriate India’s narrative

  • X users declare clear winner of Pakistan-India combat amidst false propaganda
Published May 12, 2025

As a ceasefire finally went into effect between India and Pakistan on Saturday, the internet erupted with praise for Pakistan Air Force (PAF) while mocking India’s false narratives and propaganda vs. Pakistan presenting clear facts and data about the war.

As Pakistan came out of the skirmish, media outlets such as Bloomberg and Financial Times (FT) recognised Pakistan’s finesse and restrain, echoing sentiments on this side of the border.

‘Trump truce leaves India furious, Pakistan elated as risks loom’ wrote Bloomberg on Sunday, ‘China’s J-10 ‘Dragon’ shows teeth in India-Pakistan Combat’ marvelled FT.

CNN on Saturday even reported how India was put on the back-foot following Pakistan’s aggressive barrage of missiles and that it was India who requested the US to negotiate an emergency ceasefire.

While Indian officials especially local media were busy beating the war drums and spreading misinformation, Pakistan’s facts were presented at official press conferences and the internet couldn’t help but single out the PAF for their bravery and excellence.

Memes continue: Pakistanis celebrate air dominance over India on social media

Until then, jury’s out on Prime Minister Narendra Modi’s next move.

Business & Finance

Arif Habib expects super tax cut in upcoming budget

Published May 12, 2025

Arif Habib, the founder and CEO of Arif Habib Corporation Limited, expects a reduction in the super tax in the upcoming budget for the fiscal year 2025-26.

Talking to media persons at the Pakistan Stock Exchange (PSX) on Monday, Arif Habib shared that Prime Minister Shehbaz Sharif, in a recent meeting held just a few days ago, has indicated that in the upcoming budget, further relief will be provided to various industries as well as the salaried class.

“I think we can also expect a reduction in the super tax in particular,” said Habib.

The federal government will present the next fiscal year’s budget on June 2.

Commenting on the ongoing cross-border tensions, Arif Habib maintained that India “wrongly accused” Pakistan and misled its people.

“As a result, it is not only facing backlash from its public but is also under severe criticism in its parliament. On the other hand, Pakistan has emerged as a hero,” he said.

The chief executive said the Pakistan stock market reacted ‘very positively’ amid a series of favourable developments for the country.

“Pakistan has received several good news items one after another — including the approval of the International Monetary Fund (IMF) programme, a reduction in the policy rate,” the business magnate said.

The PSX staged a strong comeback on Monday, driven by a convergence of positive developments, including a ceasefire agreement between India and Pakistan, as well as the IMF’s approval of crucial funding. The benchmark KSE-100 Index surged nearly 10,000 points during the trading session.

Habib added that Pakistan is progressing on the economic front and has shown the world that it is a strong and capable country.

In a surprise and much-awaited move, Pakistan and India have agreed to a temporary ceasefire on Saturday.

US President Donald Trump confirmed that India and Pakistan agreed to a “full and immediate ceasefire,” amid both countries launching strikes and counter-strikes against each other’s military installations.

He also expressed willingness to work with both countries to find a solution concerning Indian Illegally Occupied Kashmir.

Markets

Indian benchmarks rally 3%, eye best day in nearly a year on India-Pakistan truce

Published May 12, 2025

India’s benchmarks jumped over 3% and were on track to log their best session in almost a year on Monday after the country reached and held a ceasefire with Pakistan over the weekend, following the worst cross-border clashes in nearly three decades.

The Nifty 50 and the BSE Sensex gained about 3.25% each to 24,787.8 and 81,958.04, respectively, as of 1:12 p.m. IST, on track to recover the 1.5% they lost since India’s strikes on Pakistan on Wednesday.

If gains hold, the benchmarks will log their best single-day jump since June 5, 2024, when markets surged after the ruling National Democratic Alliance’s victory in the national elections.

Meanwhile, Pakistan’s stock exchange halted trading on Monday for an hour, after the benchmark KSE-100 share jumped 8.84% in early trade.

It was last up 9.4%.

The easing of hostilities allows focus to return to growth and trade in the world’s fifth largest economy, analysts said, adding that the conflict will not have a material impact on India’s economy.

“Assuming the ceasefire is adhered to by both countries, we keep all our macro forecasts unchanged,” Barclays said in a note.

Indian shares rally on India-Pakistan ceasefire

“We see India grow at a solid 6.5% year-on-year in FY25-26, benefiting from relative insulation to global trade uncertainty and strong progress in ‘trade talks’ with the US administration,” it added. On Monday, all 13 major sectors logged gains.

The broader small- and mid-caps rallied 4% and 3.6%, respectively.

The volatility index, nicknamed the “fear gauge”, was set to snap an eight-day rising streak, offering some relief to investors as a fragile ceasefire seemed to hold after initial violations.

“With the first sign of de-escalation, we are likely seeing the floodgates open in terms of foreign inflows as the global risk-sentiment is also turning positive on easing trade tensions,” said Abhishek Goenka, founder and CEO of IFA Global.

FPIs have been net buyers of Indian stocks so far in May, purchasing $1.7 billion worth of shares, as of Friday’s close. Tourism and travel-related stocks, which were the worst hit due to the conflict, surged 5.5% on Monday.

Pakistan Print 2025-05-12

FPCCI expresses unwavering support to armed forces

Published May 12, 2025

LAHORE: At a press conference held at the FPCCI Regional Office in Lahore, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Atif Ikram Sheikh, alongside Regional Chairman and Vice President Zain Iftikhar Chaudhry, Patron-in-Chief of United Business Group S M Tanveer, Vice Presidents Zaki Aijaz and Aun Ali Syed, and other prominent business leaders, expressed unwavering support for Pakistan’s Armed Forces. They praised the military for not only defending every inch of the motherland with exceptional bravery but also for exhibiting remarkable restraint, strategic foresight, and steadfast courage in the face of unprovoked aggression.

Atif Ikram Sheikh underscored that the Pakistan Army has unequivocally shown the world that no level of advanced weaponry can substitute for the power of professional excellence, meticulous planning, unshakable determination, and patriotic spirit.

He extended the highest tribute to Chief of Army Staff General Syed Asim Munir, Chief of Air Staff Zaheer Ahmad Babar, and Chief of Naval Staff Admiral Naveed Ashraf for their exemplary leadership and composed handling of the situation, particularly during “Operation Bunyan-un-Marsoos.” Despite the challenging circumstances, the Pakistani nation stood resilient.

Markets remained operational, and business activities continued uninterrupted—an outcome made possible by the public’s deep confidence in the capability and readiness of their Armed Forces. The valor of the Pakistan Army has instilled pride in every citizen. Sheikh reaffirmed that the business community of Pakistan remains resolutely aligned with the Armed Forces, now and always.

He lauded the proactive role of the business sector during the conflict, noting that they ensured uninterrupted supply chains and prevented any shortages across the country. He added that the patriotism demonstrated by the business community, along with citizens nationwide, is a testament to Pakistan’s collective strength and unity.

He also offered his heartfelt condolences to the families who lost their loved ones during the recent hostilities. The innocent children, sisters, and brothers who were martyred have become the silent heroes of our shared struggle. May Allah elevate their ranks in Jannah and grant their families strength and patience. The entire nation stands in solidarity with them and deeply honors their sacrifice.

Atif Ikram further commended the national media for its responsible and patriotic coverage. Unlike the misleading and sensationalist narratives propagated by segments of the Indian media, Pakistani journalists and broadcasters upheld journalistic ethics, professionalism, and the national interest with integrity and poise.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-12

Ceasefire marks dawn of new era of peace in region: minister

LAHORE: Punjab's Minister for Sports, Malik Faisal Ayub Khokhar, in a statement, said that the recent ceasefire has...
Published May 12, 2025

LAHORE: Punjab’s Minister for Sports, Malik Faisal Ayub Khokhar, in a statement, said that the recent ceasefire has ushered in a new dawn of peace in the region. He emphasized that the entire nation salutes the sacrifices of the Pakistan Armed Forces, who have bravely defended the motherland on every front.

The Minister said that the war hysteria and conspiracies of the Modi government have been thoroughly exposed on the global stage. He highlighted that both political and military leaderships, united on one front, have effectively crushed the nefarious intentions of the enemy. “This national unity is our true strength,” he asserted.

Malik Faisal Ayub Khokhar called upon the international community to play a meaningful role in ensuring lasting peace in the region. He stressed that the Pakistani nation stands united against all adversaries, and any malicious intent towards Pakistan will meet a dire fate.

Expressing solidarity with the families of the martyrs, the Minister said that their sacrifices will never be forgotten. He stated that the Pakistan Army has dealt heavy blows to the enemy, and has given a strong and clear message on every front that Pakistan will never compromise on its sovereignty.

He further stated that Modi’s regime has become a threat not only to India but to the peace and stability of the entire region. “The world has now seen the true face of this deceitful government,” he concluded.

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Pakistan Print 2025-05-12

Maulana Bashir announces cash reward for PAF heroes

Published May 12, 2025

KARACHI: The founder and chairman of Saylani Welfare International Trust, Maulana Bashir Farooqi, praised the armed forces for achieving a historic victory against India during a recent operation.

He announced that two heroes of the Pakistan Air Force, who performed an extraordinary feat, will be awarded PKR 2.5 million each as a personal cash reward.

During a press conference at the Karachi Press Club (KPC) on Sunday, Maulana Bashir Farooqi stated, “I want to inform the nation that, by the grace of Allah, we have achieved success and victory. Two nuclear powers stood face to face, but our prayers and determination led us to triumph.” He revealed that, before the operation, Chief of Army Staff General Asim Munir offered the Fajr prayer, recited the Quran, and prayed for success. Two fighter pilots from the Pakistan Air Force, fully aware of the dangers, embarked on a mission and struck the enemy like falcons. “They obliterated the adversary with their unparalleled bravery,” he said.

The world, including Britain, was astonished by the precision of our armed forces and the missile strikes that rained down on the enemy. Maulana Farooqi emphasised, “The defense of Pakistan is in strong hands. Our armed forces have defeated India’s Modi-led government. We salute our forces and pay tribute to the Chief of Army Staff.”

Copyright Business Recorder, 2025

Pakistan Print 2025-05-12

HCSTSI pays tributes to Armed Forces

Published May 12, 2025

HYDERABAD: President Hyderabad Chamber of Small Traders & Small Industry (HCSTSI), Muhammad Saleem Memon, has paid rich tribute to the Pakistan Armed Forces, especially the courageous and highly professional pilots of the Pakistan Air Force, for their exceptional response during the recent escalation with India. Their swift and precise action not only safeguarded the nation but also earned global recognition for Pakistan’s military excellence and aerial supremacy.

He reiterated that war has never been Pakistan’s first choice. As members of the business community, we have always advocated for peace, regional stability and mutually respectful relations with neighbouring countries, for it is only in such an environment that trade, growth, and prosperity can flourish. However, when aggression is imposed upon us, Pakistan reserves every right to respond decisively.

Referring to the recent conflict, he noted that India used the April 22nd incident in Occupied Kashmir as a pretext to launch “Operation Sandoor” on May 7th, targeting various regions within Pakistan. But by the grace of Almighty Allah and the iron-willed resolve of the Pakistan Armed Forces, Pakistan launched “Operation Bunyan al-Marsis” in response neutralizing enemy Rafale jets, drones, and missile systems, and sending a clear message to the world: underestimating Pakistan is a grave miscalculation.

HCSTSI President also extended his appreciation to Prime Minister Mian Shahbaz Sharif, Deputy Prime Minister Ishaq Dar, and the military leadership for their resolute and visionary strategy, which compelled India to seek a ceasefire through global intermediaries. The leadership’s message was clear: Pakistan stands for peace, but with dignity and honour.

He emphasized that the recent developments have highlighted the importance of not only a robust defense but also a stable economy and technological advancement for national resilience. “This is the time for national renewal and commitment. Just as we stood united with our armed forces, we must now unite for the progress, self-reliance, and economic development of our beloved nation, setting aside all political and social differences,” he said.

President paid heartfelt tribute to Dr. Abdul Qadeer Khan, the father of Pakistan’s nuclear program, stating that the country’s strategic capability under his leadership remains the strongest pillar of our national defense today.

He further added that Pakistan’s traders and industrialists have a vested interest in peace and stability, as these are essential for employment, investment, and national revenue. However, whenever the country faces threats, the business community stands firmly behind the Armed Forces like a frontline unit.

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Pakistan Print 2025-05-12

Bashir Janmuhammad expresses solidarity with armed forces

Published May 12, 2025

KARACHI: Renowned businessman and philanthropist Mohammed Bashir Janmuhammad expressed solidarity with armed forces.

He said: “Today, we stand as proud and grateful Pakistanis, deeply moved by the extraordinary bravery, determination, and resolve shown by our Armed Forces and intelligence agencies during these testing times. Their service reflects the highest standards of dedication to our nation.

“As responsible members of the business community, it is both our duty and honour to acknowledge these efforts. I recommend hosting a formal gathering to pay tribute to Chief of Army Staff General Asim Munir, the Government of Pakistan, and our Armed Forces for their steadfast defense of our sovereignty.”

Copyright Business Recorder, 2025

Pakistan Print 2025-05-12

‘Day of Gratitude’ marked: NA speaker commends valiant role played by armed forces

Published May 12, 2025

ISLAMABAD: Speaker National Assembly Sardar Ayaz Sadiq has welcomed the announcement made by Prime Minister of Pakistan Mian Muhammad Shehbaz Sharif to observe a “Day of Gratitude” in light of the successful culmination of Operation Bunyanun Marsoos, terming it a deeply significant and unifying moment in the nation’s history.

“The successful execution of Operation Bunyanun Marsoos marks a moment of profound national pride and reflection,” the Speaker stated on Sunday.

“Today is not merely a celebration of military success, but a day to offer gratitude before Almighty Allah for guiding the nation t with strength, dignity, and honour.”

Speaker Sardar Ayaz Sadiq commended the valiant role played by the Pakistan Armed Forces, stating that the nation’s defense was rendered impregnable through their unmatched courage, operational excellence, and unwavering commitment to the sovereignty and security of the homeland.

“Our armed forces demonstrated extraordinary resolve and professionalism on every front. Their sacrifices and steadfastness reflect the highest traditions of patriotism,” he said.

He further underscored the significance of national unity and political consensus during the critical period of conflict. “At a time when the nation was under threat, the people of Pakistan rose above their differences and stood united in defence of the motherland. Political forces across the spectrum exhibited maturity and placed national security above partisan interests, sending a clear and powerful message of unity to both friends and foes alike.” the Speaker emphasized that Pakistan emerged from the crisis with not only a strategic and defensive advantage but also a moral and diplomatic victory on the international stage.

“The robust, principled, and restrained response by Pakistan in the face of aggression won the respect of the global community. Our diplomatic outreach and consistent narrative helped shape a broader understanding of Pakistan as a peace-loving,

sovereign nation committed to regional stability,” he said.

He further remarked, “The effective and proportionate response delivered to the enemy during Operation Bunyanun Marsoos was not only a military achievement but also a manifestation of national resilience and wisdom. Every success, every inch of regained honour, was made possible by the blessings and mercy of Almighty.

Speaker Sardar Ayaz Sadiq has also expressed deep sorrow and solidarity with the families of those who laid down their lives in the line of duty.

“Our martyrs are the eternal guardians of the nation’s honour. Their sacrifice is the foundation upon which our future security is built. The nation will forever remember and cherish their bravery.”

He offered prayers for the elevation of the ranks of the martyrs and extended heartfelt condolences to their bereaved families.

“May Allah grant them patience and strength in their hour of grief. Their loved ones did not die in vain — they live on in the nation’s gratitude and in its resolve to remain free, proud, and united.”

He also stated: “Today, Pakistan stands stronger — politically, militarily, and morally. Let this day of gratitude remind us of what we can achieve when we are united, resolute, and guided by faith.”

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Pakistan Print 2025-05-12

Business community pays tribute to Armed Forces

Published May 12, 2025

KARACHI: Business Community has extended heartfelt tributes and unwavering support to the Pakistan Armed Forces, lauding their unmatched professionalism, courage, and commitment to national defence.

The business community has lauded the Pakistan Army, Air Force, and Navy for once again demonstrating their status as some of the most capable and resilient forces-not only in the region, but across the globe.

Zubair Tufail, leader United Business Group and former President Federation of Pakistan Chamber of Commerce and Industry, emphasized that whenever the nation has faced a critical threat, the armed forces have stepped forward with unmatched determination to safeguard the country’s sovereignty. He particularly acknowledged the recent response to Indian aggression, describing it as a timely and powerful reply that sent a clear message that Pakistan will not tolerate any attempts to undermine its national dignity. “There is nothing more important than national security, and we stand shoulder to shoulder with our military during these testing times”, he added.

Tufail also admired the services of Armed Forces particularly; Chief of the Army Staff (COAS) of the Pakistan Army is General Syed Asim Munir, for defending Pakistani borders and giving a strong response to Indian Forces. He also appreciated the efforts of US President Donald Trump, Vice President J. D. Vance and Secretary of State Marco Rubio for timely intervention for a ceasefire on India’s request.

Rafique Suleman, General Secretary Pakistan Kenya Business Council has condemned the saddened acts of aggression against Pakistan by India without any proofs. “We strongly condemn any form of violence or hostility that threatens peace, regional stability, and the lives of innocent civilians”, he added. He said that the Kenya Business Council is committed to support the government of Pakistan and stand in full solidarity with the Armed Forces during this challenging time. “We are proud of our Armed Forces, who have responded with strength and determination to defend the country against India’s unjustified attacks. In this difficult time, our thoughts and prayers are with our brave forces, he added.

Rafique said that peace is the cornerstone of prosperity, and the business community remains hopeful for a swift and peaceful resolution of the dispute between two neighbour countries. “We also urge all parties involved to exercise restraint and to prioritize diplomatic dialogue and peaceful resolution”, he added.

Imtiaz Hussain President Pakistan Agricultural and Horticultural Forum has assured the military of their complete support, both in times of crisis and in the ongoing journey of national progress. “Our trader and industrialist community has always contributed wholeheartedly to the development of Pakistan, and in this hour of need, we are united in support of our brave armed forces,” he said. He noted that the display of national unity during the crisis has proven once again that the Pakistani nation stands united behind its Armed Forces proudly.

He lauded the Army Staff (COAS) of the Pakistan Army is General Syed Asim Munir and Pakistan Air Force (PAF) for its exceptional performance, stating that the way PAF pilots thwarted Indian air aggression will go down as a proud chapter in the country’s defence history. Imtiaz has also thanked the US President for playing a constructive role in de-escalating tensions between Pakistan and India.

Copyright Business Recorder, 2025

World Print 2025-05-12

Villagers evacuated from line of fire fear going back

Published May 12, 2025
Photo: Reuters
Photo: Reuters

OCCUPIED JAMMU: After spending days in temporary homes and with relatives, people from both sides of the Indian and Pakistani border are sceptical about this weekend’s ceasefire and in no hurry to return to their villages.

Indian cites like occupied Jammu and Amritsar, which were spooked by the sounds of explosions after the truce was agreed, remained quieter than normal on Sunday with many shops choosing to close and people preferring to stay indoors.

Indian and Pakistani authorities advised people who had left border areas not to return to frontline villages just yet.

After four days of fighting, India and Pakistan agreed to a ceasefire on Saturday under US pressure, but within hours explosions rang out in border towns and India accused Pakistan of violating the pact.

The arch rivals had been involved in the worst fighting in nearly three decades, firing missiles and drones at each other’s military installations and killing almost 70 people.

“URGENT APPEAL: Do not return to frontline villages. Lives are at risk. Unexploded munitions remain after Pakistani shelling,” said a police notice in Indian Kashmir.

Hundreds of people were shifted to temporary homes, while others left to stay with relatives far from the border as fighting intensified earlier in the week.

“I want to go back to my village in Bihar. Do not want to go back there (to the border) and die,” said Asha Devi, a 22-year- old farm labourer in the Akhnoor region, one of the areas worst affected by shelling in recent days.

Kabal Singh, head of a village close to the border, said people were scared to return home after they heard the blasts following the ceasefire announcement.

On the Pakistan side of the border, some residents displaced from villages were advised to wait until Monday midday before returning.

“Many of them are waiting to see how the situation develops before making a decision about returning,” said Akhtar Ayoub, a local administration official in Neelum Valley.

World Print 2025-05-12

Modi faces domestic criticism over sudden ceasefire

Published May 12, 2025

NEW DELHI/ISLAMABAD: India and Pakistan have stepped back from the brink of all-out war, with a nudge from the US, but New Delhi’s aspirations as a global diplomatic power now face a key test after President Donald Trump offered to mediate on the dispute over Kashmir, analysts said.

India’s rapid rise as the world’s fifth-largest economy has boosted its confidence and clout on the world stage, where it has played an important role in addressing regional crises such as Sri Lanka’s economic collapse and the Myanmar earthquake.

But the conflict with Pakistan over Kashmir, which flared up in recent days with exchanges of missiles drones and air strikes that killed at least 66 people, touches a sensitive nerve in Indian politics.

How India threads the diplomatic needle - courting favour with Trump over issues like trade while asserting its own interests in the Kashmir conflict - will depend in large part on domestic politics and could determine the future prospects for conflict in Kashmir.

“India ... is likely not keen on the broader talks (that the ceasefire) calls for. Upholding it will pose challenges,” said Michael Kugelman, a South Asia analyst based in Washington.

In a sign of just how fragile the truce remains, the two governments accused each other of serious violations late on Saturday.

The ceasefire, Kugelman noted, was “cobbled together hastily” when tensions were at their peak.

Trump said on Sunday that, following the ceasefire, “I am going to increase trade, substantially, with both of these great nations”.

Indian Prime Minister Narendra Modi, for his part, has not commented publicly on the conflict since it began.

India considers Kashmir an integral part of its territory and not open for negotiation, least of all through a third-party mediator. India and Pakistan both rule the scenic Himalayan region in part, claim it in full, and have fought two wars and numerous other conflicts over what India says is a Pakistan-backed insurgency there. Pakistan denies it backs insurgency. “By agreeing to abort under US persuasion ... just three days of military operations, India is drawing international attention to the Kashmir dispute, not to Pakistan’s cross-border terrorism that triggered the crisis,” said Brahma Chellaney, an Indian defence analyst.

For decades after the two countries separated in 1947, the West largely saw India and Pakistan through the same lens as the neighbours fought regularly over Kashmir. That changed in recent years, partly thanks to India’s economic rise while Pakistan languished with an economy less than one-10th India’s size.

But Trump’s proposal to work towards a solution to the Kashmir problem, along with US Secretary of State Marco Rubio’s declaration that India and Pakistan would start talks on their broader issues at a neutral site, has irked many Indians.

Pakistan has repeatedly thanked Trump for his offer on Kashmir, while India has not acknowledged any role played by a third party in the ceasefire, saying it was agreed by the two sides themselves.

Analysts and Indian opposition parties are already questioning whether New Delhi met its strategic objectives by launching missiles into Pakistan on Wednesday last week, which it said were in retaliation for an attack last month on tourists in Kashmir that killed 26 men. It blamed the attack on Pakistan - a charge that Islamabad denied.

By launching missiles deep into Pakistan, Modi showed a much higher appetite for risk than his predecessors. But the sudden ceasefire exposed him to rare criticism at home.

Swapan Dasgupta, a former lawmaker from Modi’s Hindu nationalist Bharatiya Janata Party, said the ceasefire had not gone down well in India partly because “Trump suddenly appeared out of nowhere and pronounced his verdict”.

The main opposition Congress party got in on the act, demanding an explanation from the government on the “ceasefire announcements made from Washington, D.C.”

“Have we opened the doors to third-party mediation?” asked Congress spokesperson Jairam Ramesh.

And while the fighting has stopped, there remain a number of flashpoints in the relationship that will test India’s resolve and may tempt it to adopt a hard-line stance.

The top issue for Pakistan, diplomats and government officials there said, would be the Indus Waters Treaty, which India suspended last month but which is a vital source of water for many of Pakistan’s farms and hydropower plants.

“Pakistan would not have agreed (to a ceasefire) without US guarantees of a broader dialogue,” said Bilawal Bhutto Zardari, a former foreign minister and currently chairman of the People’s Party of Pakistan, which supports the government. Moeed Yusuf, former Pakistan National Security Advisor, said a broad agreement would be needed to break the cycle of brinksmanship over Kashmir.

“Because the underlying issues remain, and every six months, one year, two years, three years, something like this happens and then you are back at the brink of war in a nuclear environment,” he said.

Pakistan Print 2025-05-12

India blocks Facebook Page of Speaker Punjab Assembly

Published May 12, 2025

LAHORE: The recent firm and principled stance of Speaker Punjab Assembly Malik Muhammad Ahmad Khan against India’s negative narrative, policies, and regional interference appears to have drawn the ire of the Indian government. In retaliation, his official Facebook page has been blocked in India, raising serious concerns among media and public circles.

Speaker Malik Muhammad Ahmad Khan courageously exposed the facts surrounding the Pahalgam incident, effectively countering Indian propaganda and presenting the truth before the world. He also strongly advocated Pakistan’s legal and internationally recognized position on the Indus Waters Treaty, exposing India’s violations and water aggression.

India’s reaction to this bold stance — targeting the Speaker’s social media platform — is a blatant violation of the global principles of freedom of expression. The Indus Waters Treaty, a sensitive and internationally acknowledged agreement, demands respect and adherence rather than suppression of critical voices.

Speaker Malik Muhammad Ahmad Khan has consistently adopted a fearless and unequivocal position in defending Pakistan’s sovereignty, integrity, and national interests. His bold statements and fact-based narrative have earned widespread appreciation in Pakistan while holding a mirror up to India’s actions.

Copyright Business Recorder, 2025

Opinion Print 2025-05-12

After aerial humiliation, a panicked India bombed its own people

Published May 12, 2025

In one of the most stunning and deeply troubling incidents of modern military conflict, the May 2025 India-Pakistan escalation has not only exposed the weakness of Indian air superiority but has also brought to light a catastrophic failure in India’s missile command and control infrastructure.

In an unprecedented embarrassment, several ballistic missiles fired by the Indian military reportedly landed within its own territory—specifically in Indian-administered Kashmir and East Punjab—causing damage, death, and widespread panic.

While Indian media outlets initially attempted to blame these explosions on Pakistani strikes, independent intelligence sources, local reports, and even intercepted communication within Indian military channels revealed the horrifying truth: these were Indian missiles, misfired or misdirected due to systemic failures in guidance systems, lack of coordination, or possibly human error. It is a stark reminder that the world’s largest democracy, which possesses over 170 nuclear warheads, operates with a missile infrastructure plagued by flaws that could have global consequences.

The story doesn’t end with missiles gone rogue. Earlier in the week, Pakistan successfully downed five Indian fighter jets, including three Rafale aircraft—France’s pride, and India’s most advanced multirole fighters. But the embarrassment did not stop at the downing itself; what shook global military experts was the fact that these Rafales were shot down not by any American stealth technology or Russian SAM systems—but by Chinese-made J-10C and JF-17 Thunder jets, operated by Pakistani pilots with surgical precision.

A French defense analyst, when asked how the technologically inferior Chinese platforms could destroy such advanced jets, offered a brutally honest assessment: “We provided the platform. But platforms require skill to operate. That we could not supply to Indian pilots.”

The statement encapsulates the broader dysfunction in India’s military command. Despite heavy investments in advanced platforms, India’s air force continues to be undermined by under-trained personnel, politicized promotions, and insufficient real-combat exposure—particularly compared to Pakistan, whose forces are battle-hardened from two decades of asymmetric and conventional warfare.

Copyright Business Recorder, 2025

Qamar Bashir

The writer is a former Press Secretary to the President, An ex-Press Minister at Embassy of Pakistan to France, a former MD, SRBC Macomb, Detroit, Michigan

Opinion Print 2025-05-12

Beyond the ceasefire: Pakistan’s path forward

Published May 12, 2025

A ceasefire, brokered by the Trump administration, is now in place, marking a significant shift in the Pakistan-India dynamic. This development has brought the Kashmir issue into the international spotlight, amplifying global attention to the longstanding conflict. However, from Pakistan’s perspective, the continued suspension of the Indus Water Treaty remains a pressing concern, threatening water security and regional stability.

China has proven itself as Pakistan’s iron brother. On paper, the comparison between the two archrivals—Pakistan and India—seems stark. Pakistan’s defense spending is one-eighth of India’s, its economic size one-tenth, and its foreign exchange reserves a mere rounding error for the latter.

Yet, Pakistan holds an edge in modern warfare, bolstered by China’s latest weaponry technology and unwavering support, especially when Western backing leans toward India. Despite recent years seeing Chinese citizens killed in Pakistan, China has not hesitated to stand firm.

The enemy of my enemy is my friend. India, the common adversary, has miscalculated the strength of the Pakistan-China alliance, underestimating the dominance of Chinese aircraft and missile technology. This message resonates not just for India but for the broader Western audience witnessing China’s real-time military superiority.

The psychological victory belongs to Pakistan and China. Last week’s actions have offered Pakistan a chance to restore its global image and reclaim lost credibility, while India’s perceived military dominance over Pakistan wanes, despite its superior budgets and equipment.

In a conventional war, Pakistan lacks the economic muscle to endure long-term, yet it cannot allow India to establish a new normal. With active Chinese assistance, the Pakistan Air Force demonstrated its resolve, downing five Indian fighter jets after India’s unprovoked attack on civilians following the Pahalgam incident—despite India’s failure to prove Pakistan’s involvement.

Indian media has become a global laughingstock, its narratives unraveling under scrutiny. The Modi regime’s fascist leanings erode its democratic facade, and India is losing its strategic footing.

Tensions with neighbors like Bangladesh, Nepal, and Bhutan expose its vulnerabilities across too many fronts. Meanwhile, Pakistan seeks to distance itself from jihadi ties, while India doubles down on religious fervor, signaling the decline of its secular and “incredible” identity.

Western commentators must rethink their stance as the narrative shifts. Pakistan’s DG ISPR provided a fact-based briefing to international journalists, showcasing a measured yet hardened position, while India’s false claims and hollow aggression falter. Western support for India lingers as a hangover of past policies.

This is a DeepSeek moment for the West, as China showcases its air-weaponry superiority at a fraction of the cost. China and the US may be waging a proxy war, testing new military technologies in real time, with China emerging dominant. Hopefully, escalation will not reach a point of no return. As the dust settles, Pakistan should strengthen economic ties with China. During 2008–14, when no one else supported Pakistan’s infrastructure needs, China stepped in with critical nuclear and coal power projects.

Pakistan’s own greed led to costly RLNG deals with Qatar, a misstep that strained its economy.

Pakistan once relied on Western-dominated multilaterals, blaming China for power sector debt — a factually incorrect claim stemming from its own miscalculations and attempts to balance multiple alliances.

Now, realignment is essential. Moving industries from China to Pakistan could revitalize the economic relationship. The performance of Chinese jets and missiles in the Pak-India conflict strengthens China’s hand in trade tariff negotiations with the US.

It’s time for Pakistan to gather, regroup, and reignite national cohesion. Internal conflicts must end, contingencies built, and economic reforms prioritized. Rising from the ashes, Pakistan can reclaim its strength and redefine its future.

Copyright Business Recorder, 2025

Author Image

Ali Khizar

Ali Khizar is the Director of Research at Business Recorder. His Twitter handle is @AliKhizar

Pakistani Defence Minister Khawaja Asif stated on 28 April, six days after the 22 April Pahalgam terror attack that killed 25 Indian and one Nepali tourist, that a military incursion by India was imminent, with the Indians blaming Pakistan for an attack on a location 200 kilometres from the Line of Control (LoC). On 7 May at 1:44 AM, India attacked nine sites in Pakistan, with 26 fatalities as per an initial assessment.

The ceasefire was declared by Us President Donald Trump on 10 May effective 5 PM Pakistan time, followed by Ishaq Dar’s confirmation on X, formerly twitter, banned in Pakistan making one wonder who his target audience was, and within the hour by the Indian government.

War propaganda is a tool used to demoralise the general public of the adversary, though the narrative that was effortlessly controlled by governments before the pervasive onset of social media is no longer possible, as indicated in the Israel-Palestinian and Ukraine-Russia conflicts.

However, while mainstream media may engage in propaganda the veracity of social media is also suspect, especially subsequent to the use of Artificial Intelligence.

One member of Pakistan’s national assembly stated on Thursday on a private channel that during the session a fake rumour spread that there was an Indian drone strike in Islamabad which spread fear amongst the members, and he urged the media not to air such news - an exhortation sadly that shows his lack of understanding of the technology.

International media compared the military strength of the two countries, and it comes as no surprise that the Indian government spent nine times more on defence than was spent by Pakistan in 2024 – a little under 90 billion dollars against 10 billion dollars spent by Pakistan.

India has more than twice the number of soldiers, and its conventional military hardware is double ours. These discrepancies are attributable to: (i) India’s geographical size is four times bigger than Pakistan’s – 3,287,263 square km against Pakistan’s 796,095 sq km. and (ii) the state of the Indian economy compared to ours is much larger - India’s total GDP is 4.19 trillion dollars with 705 billion dollars foreign exchange reserves against Pakistan’s 1.99 trillion dollars (purchasing power parity) and 14 billion dollars projected by end of the current fiscal year (though roll-overs by friendly countries are 16 billion dollars); but this does not imply that the cost of the engagement on India is not prohibitive as the replacement cost of downing one Rafael jet is over 7 billion dollars.

Irrespective of these differences, the two countries have already fought three wars, which bears ample testimony to the fact that the Pakistan army is more than willing to take up the challenge.

The equalizer or what many argue is the deterrent dates back to May 1998 when the two rival countries became nuclear powers, and it is relevant to note that while India’s policy is a no-first-use policy Pakistan has no such policy, a difference that is no doubt indicative of a tacit acknowledgement that Pakistan may not have the conventional arsenal to deter India’s well-documented hegemonistic designs in the region. Be that as it may, neither country hinted or threatened the use of nuclear weapons, symptomatic of a sense of responsibility; and one would hope that this sentiment continues to prevail.

Pakistan is currently on a severely rigid and upfront International Monetary Fund (IMF) programme and while India’s Foreign Secretary threatened, in response to a question, that India would seek a review of loans to Pakistan at the next Fund board meeting the approval of the next tranche release as expected was secured.

However, in the current instant what remains of much greater concern to Pakistan is Modi’s declaration that the Indus Water Treaty is in abeyance and that, as was revealed in a WikiLeaks document (attributed to the then US Ambassador in India) would be tantamount to a declaration of war – a sentiment that was recently echoed by Khwaja Asif. Just as Israel has weaponised starvation of the Palestinians for Pakistan, water is being weaponised by India because of its abrogation of the IWT. Talks between the two countries are scheduled to start today, and one would hope that the Pakistani negotiators convince Modi to reverses this decision.

It is extremely disturbing that a few hours before India attacked Pakistan (Tuesday last week), instead of showing solidarity with the people of this country two of our key economic players left the country to attend a two-day investment conference in London at the taxpayers’ expense: (i) Muhammad Aurangzeb, the finance minister, the economic team leader, who has the challenging task of seeking assurances from the IMF; and (ii) Muhammad Ali, Chairman of the Privatization Commission, a key position given the critical time bound, and structural benchmarks agreed with the IMF with respect to state owned entities. Such tours were taken in the past though never with any success, however no minister in any previous administration had ever taken such a tour during active conflict with India.

There is of course a solution to the periodic terror attacks in Illegally Indian Occupied Jammu and Kashmir and that, as per Professor Mearsheimer of Chicago University, a leading proponent of offensive realism, is for India to deal with Kashmir politically rather than militarily for the weaker side has no option but to engage in acts of periodic violence.

To conclude, political solutions are the only way forward as is evident from the Irish Republican Army and the UK government Good Friday Agreement which ended a conflict that cost hundreds of thousands of lives over decades. India would do well to deal with the festering Kashmir issue politically, though sadly there appears to be little chance of that as long as Modi is the Prime Minister.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-12

PDP chief calls to resolve legitimate internal issues

Published May 12, 2025

KARACHI: Pasban Democratic Party (PDP) Chairman Altaf Shakoor has said all the legitimate internal issues should be resolved immediately but the proxies and agents of foreign forces must not be spared.

Altaf Shakoor said that with a weak economy and burden of loans no county can defend itself for long. He said the government instead of getting more loans should devise a strategy to cap further loans and generate resources internally by expanding agriculture, irrigation, water storage, solar power and a rapid urbanization and industrialisation.

He said that our civil and military leadership should focus on these issues on war footings so that Pakistan could be made a great nation of the present times. Pakistan defeated India aggression with a blend of bravery and cutting edge technology and it shows that now adopting emerging modern technology and equipment in our defense system has become a must, said Altaf Shakoor.

He congratulated the nation and countries, saying our brave armed forces have written a new history of thwarting foreign aggression and defending the homeland. He praised the leadership of Chief of Army Staff General Asim Munir and the leading role of the Pakistan Air Force. He said the government also displayed an excellent diplomatic front and it was a victory for all of them.

Altaf Shakoor said that now there should be no compromise on Indus Water Treaty (IWT) and India should be talked in a language of power which it understands the best. He said Kashmir is the core issue. He said the Indian occupation army should leave Jammu and Kashmir and let the Kashmiri people decide their own future. He said the recent show of power by our brave armed forces on the Line of Control shows that this matter could be resolved militarily for good if India continues to refuse giving the Kashmiri people their right of self determination.

Altaf Shakoor said that now the game of warfare has totally changed. It needs to restructure the whole defence system as now drones and missiles are more important than traditional foot soldiers. He said more funds should be allocated to research and development of defense equipment, especially new breeds of missiles, drones and cyber-communication systems.

He said after overcoming the external aggressor, now it is time to deal with its agents and proxies working in Pakistan in the guise of different political and rights banners and slogans.

He said the armed forces fully know the traitors and the fifth columnists and now it is high time to tighten the noose around them. He said internal disturbance is more dangerous than out aggression.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-12

Minorities equal partners in Pakistan’s stability: Ramesh

Published May 12, 2025

LAHORE: Punjab's Minister for Minority Affairs, Ramesh Singh Arora, in a statement on the occasion of Youm-e-Tashkar, said that all religious minorities residing in Pakistan are safe, empowered, and united. He emphasized that minorities stand shoulder to shoulder with the rest of the nation in contributing to the country’s peace, progress, and security.

Ramesh Singh Arora paid glowing tribute to the Pakistan Armed Forces on behalf of the minority communities, acknowledging their sacrifices for the defence of the homeland. He expressed heartfelt solidarity with the families of the martyrs, stating that their sacrifices will never be forgotten.

The minister remarked, "Under the shadow of this flag, we are all one." He highlighted that Sikhs, Christians, Hindus, Parsis, and other religious minorities are united in protecting Pakistan's geographical, ideological, and cultural boundaries. He noted that the Sikh community continues to play an active and loyal role in both the development and security of the country.

He further added that the interfaith harmony that prevails in Pakistan today stands as a shining example for the rest of the world. He urged the international community to recognize that religious minorities in Pakistan enjoy complete freedom and that their rights are fully protected under the Constitution and law.

Ramesh Singh Arora concluded by saying that hostile elements are afraid of the unity and strength of Pakistan’s minorities, but they must understand that Pakistan is our home, and it is the shared responsibility of all citizens to protect and defend it.

Copyright Business Recorder, 2025

Pakistan Print 2025-05-12

Zalmi Foundation announces Rs50m in honour of air defenders

Published May 12, 2025

ISLAMABAD: The Chairman of Peshawar Zalmi and Zalmi Foundation, Javed Afridi, has announced a heartfelt tribute of PKR 50 million to the valiant Air Defenders of the country.

This tribute comes in light of the recent events that posed a serious threat to national security and public safety. In a situation that could have resulted in significant damage and loss of life, the swift, precise, and heroic response of Pakistan’s Air Defenders ensured that no harm was done and no lives were compromised, said a press release issued here Sunday.

“Their unwavering courage, dedication, and sacrifice are the heartbeat of our national pride. Today, we honour them not just with words, but through meaningful action,” said Javed Afridi.

This contribution is more than a gesture, it is a powerful symbol of national solidarity and deep respect for the heroes who shield our skies with unshakable resolve. It reflects the Zalmi Foundation’s enduring mission to stand beside those who serve the nation with honour.

Pakistan Print 2025-05-12

Minister pays tribute to armed forces

Published May 12, 2025

ISLAMABAD: Minister for Kashmir Affairs and Gilgit-Baltistan Amir Muqam paid tribute to the armed forces of Pakistan for thwarting India’s nefarious designs.

Addressing at a news conference in Islamabad on Sunday, he said India had committed an act of aggression against Pakistan under the pretext of the Pahalgam false flag operation.

He emphasised that the armed forces of Pakistan delivered a decisive response, effectively teaching the enemy a lesson.

He said that Pakistan, under the leadership of Prime Minister Shehbaz Sharif, has made history.

He also acknowledged the support of political parties in backing the government on this matter.

Copyright Business Recorder, 2025

Editorials Print 2025-05-12

Taking stock of situation

Published May 12, 2025

EDITORIAL: It’s a ceasefire, however fragile, for now. India’s prime minister Narendra Modi, under pressure from RSS, the ideological fountainhead of ruling BJP, is likely to escalate tensions in near future. Even if open conflict is avoided, the ultra-right regime and its hysterical media will continue to distort facts, and spread canard against Pakistan. We must adopt a long-term perspective.

The tension between the two nuclear-armed nations is unlikely to end anytime soon. Pakistan needs to restore its lost credibility on the international stage by distancing itself from extremist elements and undertaking serious reforms — especially economic ones. Modi’s regime is damaging India internally, and the gap between the two nations is narrowing. Pakistan must seize this opportunity.

But that can only happen through economic independence and the establishment of the rule of law. One reason India continues to seek to bully Pakistan, despite being in the wrong, is because of Pakistan’s internal weaknesses. Our economy has been struggling for three decades, with repeated external debt restructurings and recent brushes with default. Foreign policy has been reduced to seeking bailouts from friendly nations and multilateral institutions. As a result, the country is losing its dignity.

Domestically, there exists growing political instability. That the public mandate was undermined in the 2024 elections is a fact. This seems to be the principal reason behind lack of politico-economic stability in the country. Needless to say, India tried to strike when Pakistan appeared internally and externally weakened. But it miscalculated.

The people have always stood united behind the security forces to defend country’s sovereignty and territorial integrity, setting aside internal divisions.

Internationally, China reaffirmed its status as a true strategic ally. India has been pushed back. Pakistan was fortunate — but it cannot rely on luck again. It must prepare to deter future aggression, and that starts with internal resilience and meaningful reforms. We must earn international respect through stability, inclusivity, and self-reliance.

Political disputes must be resolved. Economic policy must address the grievances of all provinces to build national unity. Inequality must be reduced, and the tax burden fairly distributed. The government should adopt austerity by reducing its size and lowering high salaries to set the right tone.

The government and the State Bank of Pakistan must focus on long-term investment strategies, while political and taxation challenges must be addressed head-on. Pakistan cannot afford another war; its fragile economy could collapse under the strain. We must rebuild foreign exchange reserves and attract investment.

This is essential to defending ourselves against a hostile adversary. This recent escalation must serve as a wake-up call. It is therefore about time the nation reflected that this is probably the last time we can make some serious efforts towards putting our own house in order without any loss of time. The US President, and good luck, seem to have worked wonders for both Pakistan and India.

Copyright Business Recorder, 2025

Print Print 2025-05-12

DG ISPR outlines military response to Indian aggression

Published May 12, 2025

ISLAMABAD: The Director General (DG) of Inter-Services Public Relations (ISPR) Lieutenant General Ahmed Sharif Chaudhry said that Pakistan’s armed forces targeted 26 military sites including S-400 defence system in India.

The DG ISPR alongside senior officers of the Pakistan Air Force and Pakistan Navy addressed a press conference on Sunday following a ceasefire agreement between Pakistan and India, providing a comprehensive account of Pakistan’s military response to what he described as “unprovoked Indian aggression.”

Lieutenant General Chaudhry declared that the Pakistan Army had fulfilled its pledges made to the nation, following days of intense cross-border hostilities. He presented an overview of “Operation Bunyan-un-Marsoos” launched in retaliation to what he called “dastardly attacks” carried out by Indian forces on the night of May 6 and 7.

No NSA-level communication with India, DG ISPR tells international media

Lt Gen Ahmed Sharif Chaudhry revealed new dimensions of Pakistan’s military strategy during “Operation Bunyan-un-Marsoos” against India, highlighting the country’s use of drones, cyber capabilities, and simultaneous counter-terrorism operations.

Highlighting the military’s response, the DG ISPR revealed that the Pakistan’s armed forces targeted 26 military installations inside India that were involved in attacks on Pakistani civilians and infrastructure. “These included Indian Air Force and Army installations at Suratgarh, Sirsa, Adampur, Bhuj, Naliya, Bathinda, Poonch, Barnala, Harwara, Avantipur, Srinagar, Jammu, Mamoon, Ambala, Udhampur, and Pathankot — all of which sustained significant damage,” he stated.

He said that other key targets included BrahMos missile storage facilities in Fayaz and Nagrota, identified as the source of earlier missile attacks on Pakistani soil. S-400 missile batteries at Adampur and Poonch were also neutralised by the Pakistan Air Force.

He said that command and planning hubs — 10th Brigade and 80 Brigade at KG Top and Nowshera — which were directly involved in planning attacks that killed Pakistani children were also destroyed, he added. Furthermore, he said, intelligence fusion units and operational field elements in Rajouri and Nowshera, which were responsible for training and supporting proxy elements linked to terrorism in Pakistan were also destroyed. He added that missile facilities used to launch BrahMos missiles into Pakistani territory were also neutralised.

Describing Pakistan’s response as a “textbook demonstration” of joint military operations, he stressed the integration of all three military branches and advanced technologies. “It was enabled by real-time situational awareness, network-centric warfare capabilities, and seamless multi-domain operations,” he said.

He further highlighted the use of a wide array of modern weaponry including precision-guided long-range Fatah missiles (F1 and F2), air-launched precision munitions, long-range loitering munitions, and advanced artillery systems.

Answering the questions, he said that Indian-sponsored terror activity spikes during cross-border conflict. He said that India was directly involved in fomenting terrorism in Pakistan. In his briefing, he underscored the increasing technological sophistication of Pakistan’s military and its preparedness to engage across multiple domains in response to evolving regional threats. “India deployed drones not just for surveillance but to intimidate civilians by spreading fear,” he said. He said that Pakistan demonstrated its own advanced drone capabilities. He revealed, “Throughout ‘Operation Bunyan-un-Marsoos’, dozens of Pakistani armed drones flew over major Indian cities and high-value political and government sites, including the capital, New Delhi.”

He said this manoeuvre was a deliberate show of strength. “From occupied Kashmir to Gujarat, we made it clear that Pakistan possesses lethal, long-range, unmanned capabilities, underscoring the futility of trying to dominate this domain.”

The DG ISPR further disclosed that Pakistan launched a “comprehensive and effective cyber-offensive” that temporarily disrupted and degraded critical Indian infrastructure and communication networks. These systems, he said, were actively supporting India’s military operations during the conflict.

“Let me tell you, the Pakistan Armed Forces possess an adequate suite of highly sophisticated, niche military technologies. What we used in this conflict was only a fraction of our capabilities—many remain undisclosed, reserved for future contingencies,” he stated.

Despite the show of force, Lt Gen Chaudhry insisted that Pakistan’s actions were measured. “Compared to India’s relentless provocations, our response has been precise, proportionate, and remarkably restrained,” he said. He said that Pakistan avoided civilian casualties and strictly targeted entities directly linked to hostile military actions against Pakistan.

The DG ISPR further stated that Pakistan’s military retaliation was not only proportionate and deliberate but also designed to uphold the country’s strategic deterrence posture. “No one should have any doubt,” he warned, “that whenever our sovereignty is threatened and our territorial integrity violated, the response will be comprehensive, retributive, and decisive,” he stressed.

During the press briefing, he also highlighted a concurrent surge in militant violence across Pakistan. “As our forces engaged on the eastern front, we witnessed an abnormal and immediate spike in India-sponsored terrorism within our borders,” he said. “This clearly vindicates Pakistan’s long-standing position that India is actively involved in fomenting terrorism here.”

Despite these challenges, he asserted that Pakistan’s military maintained operational effectiveness on both fronts. “Alongside ‘Operation Bunyan-un-Marsoos’, our forces continued uninterrupted counterterrorism operations in the western region, ensuring national security on all fronts.”

The DG ISPR declared that the Pakistan Army had fulfilled its pledges made to the nation, following days of intense cross-border hostilities. He said that the attacks led to the tragic loss of innocent civilian lives, including women, children, and the elderly. “Pakistan had vowed justice and retribution for the reprehensible Indian military aggression and brutal killing of our civilians,” he added.

Paying tribute to those who lost their lives, Lt Gen Chaudhry offered prayers for the swift recovery of the wounded and commended the efforts of Pakistan’s armed forces.

Copyright Business Recorder, 2025

Print Print 2025-05-12

Pakistan welcomes Trump’s statement

Published May 12, 2025

ISLAMABAD: Pakistan welcomed the statement by the US President Donald J Trump regarding Pakistan-India relations.

Pakistan welcomed US President Trump’s statement on the longstanding Kashmir dispute, emphasising the importance of resolving the issue in accordance with United Nations Security Council (UNSC) resolutions.

According to Spokesperson of Foreign Affairs Shafqat Ali Khan, “We acknowledge with appreciation the constructive role played by the United States, alongside other friendly states, in supporting the recent ceasefire understanding between Pakistan and India; a step towards de-escalation and regional stability.”

Trump says Pakistan, India have agreed to a ceasefire

He said that we also appreciate President Trump’s expressed willingness to support efforts aimed at the resolution of the Jammu and Kashmir dispute - a longstanding issue that has serious implications for peace and security in South Asia and beyond.

He said that Pakistan reaffirms that any just and lasting settlement of the Jammu and Kashmir dispute must be in accordance with the relevant United Nations Security Council resolutions and must ensure the realization of the fundamental rights of the Kashmiri people, including their inalienable right to self-determination.

He said that Pakistan remains committed to engaging with the United States and the international community in efforts to promote peace, security, and prosperity in the region. He said that we also look forward to deepening our multifaceted partnership with the United States, particularly in the areas of trade, investment, and economic cooperation.

Copyright Business Recorder, 2025

Print Print 2025-05-12

Fragile ceasefire holds, permanent one is in sight

Published May 12, 2025

AMRITSAR/MUZAFFARABAD: A ceasefire between India and Pakistan was holding on Sunday after both sides blamed the other for initial violations, as US President Donald Trump vowed to help the arch-rivals find a solution on the disputed Kashmir region.

The truce that took effect on Saturday followed four days of intense fighting between the nuclear-armed neighbours. In the worst fighting in nearly three decades, they fired missiles and drones at each other’s military installations, killing almost 70 people.

Diplomacy and pressure from the United States helped secure the ceasefire deal, but within hours of its coming into force, artillery fire was witnessed in IIOJK, the centre of much of last week’s fighting.

Surprisingly, Pakistan and India agree to ceasefire

Blasts from air-defence systems boomed in cities near the border under a blackout, similar to those heard during the previous two evenings, according to local authorities, residents and Reuters witnesses.

Late on Saturday, India said Pakistan had violated the ceasefire. Pakistan said it was committed to the agreement and blamed India for the violations.

The fighting and explosions died down by dawn, according to Reuters witnesses, and power was restored in most border areas in India after a blackout on Saturday night.

India’s army chief on Sunday granted “full authority” to army commanders for “counteraction in the kinetic domain” to any violation of the “understanding” between the countries, the army said in a statement.

Trump praised the leaders of both countries for agreeing to halt the aggression and said he would “substantially” increase trade with them.

“I will work with you both to see if … a solution can be arrived at concerning Kashmir,” Trump added in a post on his Truth Social platform.

Hindu-majority India and Muslim-majority Pakistan each rule a part of Kashmir but claim it in full, and have twice gone to war over the Himalayan region.

India blames Pakistan for an insurgency in its part of the territory, but Pakistan says it provides only moral, political and diplomatic support to Kashmiri separatists.

Pakistan’s Foreign Ministry welcomed Trump’s statement and added that “any just and lasting settlement of the Jammu and Kashmir dispute … must ensure the realisation of the fundamental rights of the Kashmiri people, including their inalienable right to self-determination”.

Prime Minister Shehbaz Sharif said in a post on the X platform that he was “extremely grateful” to Trump for his “most valuable offer to play a greater role in bringing lasting peace to South Asia”.

PICKING UP THE PIECES

Among those most affected by the fighting were residents in border areas on either side, many of whom fled their homes when the fighting began on Wednesday.

In the Indian border city of Amritsar, home to the Golden Temple revered by Sikhs, people returned to the streets on Sunday morning after a siren sounded to signal a return to normal activities following the tension of recent days. “Ever since the terrorists attacked people in Pahalgam, we have been shutting our shops very early and there was an uncertainty. I am happy that at least there will be no bloodshed on both sides,” said Satvir Singh Alhuwalia, 48, a shopkeeper in the city.

In some border areas, however, people were asked not to return home just yet. In the Indian Kashmir city of Baramulla, authorities warned residents to stay away due to the threat posed by unexploded munitions.

“People here are hosting us well but just as a bird feels at peace in its own nest, we also feel comfortable only in our own homes, even if they have been damaged,” said Azam Chaudhry, 55, who fled his home in the Pakistani town of Khuiratta and has now been told to wait until Monday before returning.

In IIOJK’s Uri, a key power plant that was damaged in a Pakistani drone attack is still under repair.

“The project has suffered minor damage … We have stopped generation as the transmission line has been damaged,” said an official from state-run NHPC, India’s biggest hydropower company, who did not want to be identified.

Even with the ceasefire in effect, the Indian Air Force said in a midday post on X that operations were ongoing. The air force’s description of operations in such situations includes active monitoring, assessment and state of readiness.

Pakistani officials said there had been some firing in Pakistani Kashmir’s Bhimber overnight but nowhere else, and that there were no casualties. Reuters

APP adds: Buoyed by his feat in securing India-Pakistan ceasefire, US President Donald Trump pledged to “increase trade substantially” with the two South Asian neighbours and find a solution to the long-running Kashmir dispute.

In a post on Truth Social, the US leader praised the “strong and unwaveringly powerful” leadership of India and Pakistan for reaching a ceasefire, saying their legacy is greatly enhanced by their brave actions.

“I will work with you both to see if, after a thousand years, a solution can be arrived at concerning Kashmir. God Bless the leadership of India and Pakistan on a job well done!!!”

“I am very proud of the strong and unwaveringly powerful leadership of India and Pakistan for having the strength, wisdom, and fortitude to fully know and understand that it was time to stop the current aggression that could have (led) to the death and destruction of so many, and so much,” he said. “Millions of good and innocent people could have died! Your legacy is greatly enhanced by your brave actions. I am proud that the USA was able to help you arrive at this historic and heroic decision,” Trump said.

He went on to say that even though this has not been discussed, he is going to “increase trade substantially with both of these great Nations.”

Copyright Business Recorder, 2025

Print Print 2025-05-12

PM praises Trump for peace

Published May 12, 2025

ISLAMABAD: Prime Minister Shehbaz Sharif expressed gratitude to US President Donald Trump for his invaluable offer to play a greater role in bringing lasting peace to South Asia.

In a post on the social media platform X on Sunday, the PM said Pakistan and the United States have been partners for decades, working closely to protect and promote their mutual interests, as well as to uphold peace and security in critical parts of the world.

India waged unjustified war using Pahalgam as excuse: PM Shehbaz

Expressing confidence in President Donald Trump, Prime Minister Shehbaz Sharif remarked that Pakistan has found a great partner who can reinvigorate the strategic partnership and further strengthen Pakistan-US ties, not only in trade and investment but across all areas of cooperation.

Copyright Business Recorder, 2025

Print Print 2025-05-12

Ceasefire efforts: China ready to play constructive role

Published May 12, 2025

BEIJING: China hopes for and supports an early ceasefire between Pakistan and India, and is willing to continue playing a constructive role in this regard, Chinese Foreign Minister Wang Yi said.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during a phone call with Mohammad Ishaq Dar, deputy prime minister and foreign minister.

Pakistan, China discuss ongoing situation after Pahalgam attack

As a neighbor of both Pakistan and India, China is concerned about the escalation of their conflict, Wang said, expressing sympathies over the civilian casualties in Pakistan.

KARACHI: The Pakistan Stock Exchange (PSX) closed the week ending May 9, 2025, in the red, as mounting geopolitical tensions between Pakistan and India weighed heavily on investor sentiment.

Persistent uncertainty surrounding regional stabilit prompted widespread caution, dragging market performance down throughout the trading week except Friday, in which the market showed strong recovery.

The benchmark KSE-100 Index shed 6,939 points, or 6.1 percent, on a week-on-week basis, closing at 107,175 points compared to 114,114 points in the previous week. Average trading volumes rose by 20 percent week-on-week, reaching 508 million shares from 424 million shares.

Meanwhile, the average daily traded value on the ready counter stable at Rs 27.6 billion. Total market capitalization also declined by Rs 915 billion, settling at Rs 12.893 trillion versus Rs 13.808 trillion a week earlier.

BRIndex100 also lost 877 points during the last week to close at 11,268 points compared to 12,145 points a week earlier. Average daily turnover at BRIndex100 was 439 million shares. BRIndex30 also declined by 3,105 points on a week-on-week basis to settle at 32,236 points with average daily trading volumes of 303 million shares.

Analysts at AHL said that the market participants are actively monitoring geopolitical situation, with de-escalation in tension to revive the positive sentiment. Moreover, disbursement from IMF post executive board meeting is expected in the upcoming week, which is expected to lift up the sentiment, they added.

According to JS Global, KSE-100 Index dropped 6.1 percent WoW mainly due to negative sentiments prevalent during the week owing to geopolitical tensions between Pakistan and India. Average daily trading volumes increased by 20 percent WoW.

The week began on a volatile note as markets in Pakistan reacted to heightened geopolitical concerns. By Thursday, sentiment had weakened sharply following reports of Indian drone strikes on multiple cities including Karachi and Lahore, after Pak forces downed their planes.

KSE-100 experienced its second-largest intraday decline on Thursday, plunging 7.6 percent and triggering a trading halt. Tensions briefly escalated before Pakistan forces responded by eventually shooting down 77 Indian drones.

With fears of further escalation easing by the end of the week, sentiment in the stock market improved. The market staged a strong comeback on Friday, with the benchmark index rising 3,648 points to close at 107,174.

On the economic front, SBP reduced the Policy Rate this week by 100bp to 11 percent mainly influenced by declining inflation. This marks the seventh rate cut in the ongoing monetary easing cycle bringing cumulative reduction to 1,100bps from its peak of 22 percent. As per SBP data, remittances recorded an inflow of $3.2bn during Apr-2025, up 13 percent YoY. SBP forex reserves rose $118mn to reach $10.3bn.

Analysts at Topline Securities said that the KSE 100 Index declined on WoW basis, this decline was largely on account of escalation of tension between India and Pakistan, where during the week cross border hostilities kept the investors on the edge.

During the week individuals and Mutual Funds (on redemption) largely sold in the market this selling was largely absorbed by local institutions - banks, companies, other organizations and insurance sector.

Other developments during the week were fixed bond PIB auction in which government raised Rs299bn (Competitive & Non-Competitive) against target of Rs350 billion whereas cut-off yields down by 15-20bps, Foreign reserves held by SBP increased by $118 million to $10.33 billion for the week ending May 02, 2025 and remittance number for the month of March came in today at $3.2 billion (up 13 percent YoY).

Copyright Business Recorder, 2025

Pakistan Print 2025-05-12

PKBC for long-term dialogue between Pakistan, India

Published May 12, 2025

KARACHI: The Pakistan-Kenya Business Council (PKBC) has expressed deep concern over the recent tensions and Indian aggression against Pakistan.

General Secretary of the Council, Rafiq Suleman, has called for the immediate resumption of long-term dialogue between the two countries, emphasizing the urgent need to completely end Indo-Pak tensions.

The Council firmly stated its strong condemnation of all forms of violence and aggression, highlighting that in a sensitive region like South Asia, peace, political stability, and the protection of citizens' lives and property should be the top priority.

Rafiq Suleman stated that wars devastate economies and push nations backward—countries that had achieved significant progress can find themselves lost in history.

Supporting economic cooperation, international trade, and regional unity, the General Secretary said, "We want India and Pakistan to eliminate tensions through mutually respectful dialogue so that the South Asian region can move toward progress. Wars can only cause destruction—they cannot bring economic development."

Copyright Business Recorder, 2025