Pakistani Tennis Legend Aisam-ul-Haq Qureshi Retains ITF Masters World Championship Title

Pakistan’s tennis legend Aisam-ul-Haq Qureshi has successfully defended his World Mixed Doubles title at the ITF Masters World Championships in Lisbon, delivering another major international achievement for Pakistani tennis.

Qureshi partnered Austria’s Nina Hermann in the 40+ Mixed Doubles final, where the pair defeated top-seeded Portuguese duo Fred Gil and Rita Freitas in straight sets.

The Pakistani-Austrian partnership secured a 6-4, 6-3 victory to claim the gold medal and successfully complete their championship campaign. The result also strengthened Qureshi’s reputation as one of Pakistan’s most accomplished tennis players.

The victory was particularly notable because Qureshi was defending a title he had previously won in the Masters competition. His continued success at the international level demonstrates his ability to remain competitive in Masters tennis after an extensive professional career.

Qureshi’s achievement also contributed to a strong overall performance by Pakistan at the championships. Pakistan finished the competition with four medal-winning performances, giving the country a notable presence at the international Masters event.

The 40+ Mixed Doubles final featured strong opposition, with Qureshi and Hermann facing the top-seeded pair from Portugal. The Pakistani-Austrian team maintained its composure and secured both sets without allowing the match to go to a deciding set.

For Qureshi, the title adds another accomplishment to an already distinguished tennis career. He reached a career-high doubles ranking of world No. 8 and won 18 ATP Tour doubles titles during his professional career.

He has also represented Pakistan extensively in international tennis and remains one of the country’s best-known players. His achievements at the Masters level have continued to provide valuable exposure for Pakistani tennis on the international stage.

The ITF Masters World Championships bring together experienced players across different age categories, allowing former professional and competitive players to continue competing at a high international level. The ITF describes the Masters World Championships as a major part of its Masters Tour.

Qureshi’s latest gold medal is therefore another important milestone in a career that has already produced major achievements in doubles tennis. His continued participation and success can also serve as an inspiration for younger Pakistani players.

The victory in Lisbon gives Pakistan another reason to celebrate on the international tennis circuit. With four medal-winning performances at the competition, the country’s players have demonstrated their ability to compete successfully against strong international opposition.

Qureshi and Hermann’s 6-4, 6-3 triumph over Gil and Freitas ultimately secured the 40+ Mixed Doubles crown and allowed the Pakistani tennis star to retain his world championship title.

KWSC Clarifies 7.05% Increase in Karachi Water and Sewerage Charges

The Karachi Water and Sewerage Corporation (KWSC) has clarified the recent increase in water and sewerage tariffs, saying the 7.05 percent adjustment is an annual revision linked to the Consumer Price Index (CPI) for fiscal year 2025-26.

According to the corporation, the tariff adjustment has been made as part of the annual mechanism used to account for changes in prices and operating costs. KWSC said the increase should therefore be viewed in the context of the CPI-linked revision for the new financial year.

The corporation explained that the average monthly water and sewerage bill for domestic and commercial consumers was around Rs. 900 during FY 2025-26.

Following the latest adjustment, the average monthly bill is expected to rise to approximately Rs. 1,000 in FY 2026-27. This means the average consumer could pay around Rs. 100 more per month compared with the previous average bill.

KWSC’s clarification comes as changes in utility charges can have a direct impact on household and business budgets in Karachi. By explaining the basis of the tariff increase, the corporation has sought to provide consumers with greater clarity about the revised charges.

The 7.05 percent increase applies to water and sewerage tariffs under the annual adjustment mechanism. The actual amount payable by individual consumers may vary depending on their category, consumption and applicable tariff structure.

For households, the additional monthly cost may appear relatively limited when compared with other utility expenses. However, the cumulative impact of higher charges can become more significant for families managing multiple monthly bills.

Commercial consumers may also experience different effects depending on their water usage and applicable billing category. Businesses generally use greater volumes of water and may therefore see a different change in their monthly bills than average domestic consumers.

KWSC is responsible for water supply and sewerage services in Karachi, making its tariff decisions important for millions of residents and businesses across the city. Regular tariff adjustments are intended to help account for rising costs associated with providing and maintaining these essential services.

The corporation’s latest explanation also highlights the connection between inflation and public utility charges. CPI-linked adjustments are designed to reflect changes in the overall cost of goods and services over a specified period.

With the new financial year underway, consumers are expected to see the revised charges reflected in their water and sewerage bills. KWSC has indicated that the increase from an average of Rs. 900 to approximately Rs. 1,000 represents an additional monthly cost of around Rs. 100 for the average consumer.

The clarification provides consumers with a clearer understanding of why Karachi’s water and sewerage charges have increased and how the adjustment affects average monthly bills.

Federal Constitutional Court Declares Pension a Legal Right

The Federal Constitutional Court (FCC) has ruled that pension is a legally enforceable right connected to a person’s livelihood and dignity. The court observed that pension benefits cannot be withheld through arbitrary, unjustified or unlawful administrative action.

The ruling came while hearing an appeal filed by Abida Parveen, widow of late Bashir Hussain, who had sought the release of her deceased husband’s pension and other retirement benefits from the Khyber Pakhtunkhwa government.

A two-member bench led by Chief Justice Amin ud Din Khan allowed the appeal and directed the provincial authorities to process and release the pension and other benefits due to the family.

The court’s order covers family pension, gratuity, commutation, arrears and other applicable retirement benefits. It also includes lawful revisions and increases that may have become applicable under the relevant rules.

The decision carries significance for government employees and their families because it reinforces the principle that retirement benefits are not simply discretionary payments. Once a person becomes entitled to pension under the applicable law and service rules, authorities must deal with the claim according to legal requirements.

The Federal Constitutional Court’s position also highlights the connection between pension and the dignity of retired employees and their dependents. For many retired workers and surviving family members, pension represents a primary source of financial support after years of public service.

The case of Abida Parveen also draws attention to the difficulties families can face when pension and retirement benefits remain unpaid after the death of a government employee. Delays in processing such claims can create serious financial pressure, particularly for widows and other eligible dependents.

By directing the Khyber Pakhtunkhwa government to release the applicable benefits, the court has emphasized that administrative authorities cannot indefinitely withhold legitimate pension claims without lawful justification.

The ruling may also provide an important legal reference for people who face disputes over pension, family pension, gratuity, commutation or accumulated arrears. However, individual claims remain subject to the relevant service laws, pension rules and facts of each case.

The Federal Constitutional Court is currently functioning as Pakistan’s constitutional court, and its official cause lists identify Chief Justice Amin-ud-Din Khan among its judges.

For government pensioners and their families, the decision underscores the importance of keeping complete service and retirement records and pursuing legitimate claims through the appropriate administrative and legal channels when payments are delayed or denied.

The ruling ultimately places greater emphasis on the legal protection attached to pension benefits and reinforces the expectation that government departments must process legitimate retirement claims fairly, transparently and in accordance with the law.

The Modern Hospital Equipped with State-of-the-Art Medical Facilities Officially Inaugurated in Hyderabad

HYDERABAD: The Modern Hospital, equipped with state-of-the-art medical facilities, was officially inaugurated in Hyderabad. The inauguration ceremony was attended by Secretary Health Sindh Mr. Tahir Hussain Sangi, Director General Health Hyderabad Dr. Parvez Ahmed Sheikh, Executive Director Aziz Barlas, Deputy Director Dr. Abdul Ghani Sheikh, CEO of The Modern Hospital Shahid Mahmood, representatives of the Hospital and Dispensary Management Board, and other distinguished guests.

The ceremony commenced with the national flag hoisting, making the event even more dignified in connection with Independence Day.
Speaking on the occasion, Secretary Health Sindh Tahir Hussain Sangi congratulated the management and welcomed the inauguration of the hospital on a historic and auspicious day like August 14th. He stated that the establishment of such modern medical centers is an important step towards providing quality healthcare facilities to the public.

The Modern Hospital has been made fully operational, offering 24-hour emergency services and cutting-edge treatment facilities. Located in New Hyderabad City, this 100+ bed multi-specialty hospital will provide essential medical facilities, including an advanced ICU, a Neonatal Intensive Care Unit (NICU), modern operation theaters, a dialysis unit, and oncology (cancer treatment).
Additionally, expert female doctors and pediatricians will be available around the clock.

Addressing the ceremony, the speakers highlighted that The Modern Hospital has always rendered remarkable services in the healthcare sector and is no less than a gift for the public. Whether during epidemics or natural disasters, the hospital has fulfilled its responsibilities dedicatedly in every difficult hour, and other private hospitals should follow suit.

CEO of The Modern Hospital Shahid Mahmood, in his address, stated that this modern hospital is a gift to the people of Hyderabad on Independence Day. He announced that a new hospital will be inaugurated in Gharo on August 14 next year, while another branch of The Modern Hospital will be established in Mirpurkhas in December.

He further shared that a modern hostel has also been built alongside the hospital to provide quality residential facilities to doctors and medical staff coming from other cities, enabling them to render their services with peace of mind.

The establishment of The Modern Hospital will prove to be a major milestone in providing modern and quality medical facilities to the people of Hyderabad and its surrounding areas.

Investors Seek Dollar Payments and Contract Protection in Pakistan DISCO Privatization

Prospective investors interested in buying three of Pakistan’s major power distribution companies are seeking stronger financial protections before moving forward with the privatization process.

The investors want payments to be made in US Dollars, along with safeguards against future changes to their contracts and greater flexibility in purchasing electricity. These demands highlight concerns over currency risks, regulatory uncertainty and the financial challenges facing Pakistan’s power sector.

The development comes as the government moves ahead with the first phase of its plan to privatize three distribution companies: Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO).

Around 12 investors have shown interest in acquiring the companies, including four foreign parties. The participation of international investors indicates that Pakistan’s electricity distribution sector is attracting attention despite longstanding challenges related to circular debt, transmission losses, electricity theft and tariff structures.

One of the major demands from prospective buyers is payment in US Dollars. This request reflects concerns about fluctuations in the Pakistani Rupee and the possibility that currency depreciation could reduce the value of future returns for investors.

For foreign investors in particular, currency risk can significantly affect the profitability of a long-term infrastructure investment. Dollar-linked payments could provide greater predictability and help investors manage their financial exposure.

The prospective buyers are also seeking protection against future changes to their contracts. Stable contractual terms are important for investors committing large amounts of capital to infrastructure assets, particularly in a sector that is heavily regulated by the government and other state institutions.

Investors are additionally asking for greater flexibility in purchasing electricity. Such flexibility could give private operators more room to manage their supply arrangements and respond to changes in demand, electricity prices and market conditions.

The privatization of FESCO, GEPCO and IESCO is part of broader government efforts to reform Pakistan’s power sector and improve the performance of distribution companies. Better management and stronger operational efficiency could potentially help reduce losses and improve the reliability of electricity services.

However, the demands from potential buyers also demonstrate the challenges Pakistan faces in attracting private capital to the electricity sector. Investors are likely to assess not only the financial performance of the companies but also regulatory policies, tariff decisions, currency stability and the government’s commitment to long-term contractual arrangements.

The involvement of four foreign investors could bring international expertise, technology and management practices to Pakistan’s power distribution industry. At the same time, the government will need to balance investor demands with consumer interests and the country’s broader energy policy objectives.

The outcome of the first privatization phase could therefore become an important test for Pakistan’s wider power-sector reform agenda. If the government succeeds in creating conditions that provide investors with sufficient protection while maintaining affordability and service standards for consumers, the process could encourage additional private investment in the energy sector.

For Pakistan, the privatization of FESCO, GEPCO and IESCO represents more than a change in ownership. It is also an opportunity to improve the efficiency, financial sustainability and service delivery of the country’s electricity distribution system.

Karachi Water and Sewerage Charges Increased by 7.05%

Karachi residents are facing higher water and sewerage charges after the Karachi Water and Sewerage Corporation (KWSC) increased tariffs by 7.05% for residential and bulk consumers.

The tariff revision adds to the financial pressure on households and businesses across the city, particularly as many residents continue to raise concerns about inadequate and irregular water supply in different parts of Karachi.

The Sindh government formally notified the increase through the official Gazette on August 10, 2026. The revised rates were introduced after the KWSC Board of Directors approved changes to both retail and bulk water and sewerage tariffs.

According to the corporation, the latest adjustment was based on the average Consumer Price Index (CPI). The CPI is commonly used to measure changes in the prices of goods and services and is also considered when adjusting certain public utility charges.

The 7.05% increase means residential consumers will have to pay higher charges for water and sewerage services. Bulk consumers, including major users of the city’s water infrastructure, will also face the revised tariffs.

The timing of the increase is likely to attract attention because Karachi continues to experience challenges related to water availability and distribution. Many neighborhoods have faced supply shortages, while residents in some areas rely on alternative sources to meet their daily water needs.

For households already dealing with rising living costs, higher utility charges could place additional pressure on monthly budgets. The increase is therefore expected to become an important issue for consumers as the revised tariffs begin affecting water and sewerage bills.

The KWSC is responsible for providing water and sewerage services to Karachi, making its tariff structure an important part of the city’s public utility system. Changes in water charges can affect millions of residents as well as commercial and industrial consumers.

The corporation has justified the latest revision by linking it to the average Consumer Price Index. The adjustment reflects the impact of broader price changes on the cost of operating and maintaining public utility services.

However, the tariff increase also places greater focus on the quality and reliability of services provided to consumers. Residents are likely to expect improvements in water availability, distribution and sewerage management alongside higher charges.

Karachi’s water infrastructure faces significant challenges, including an expanding population, aging systems, distribution losses and uneven supply across different areas. Addressing these problems remains important for ensuring that consumers receive reliable services.

The revised tariffs will apply to residential and bulk consumers under the updated structure approved by the KWSC Board of Directors and notified by the Sindh government.

As the new charges take effect, Karachi residents will be watching closely to see whether the higher revenue generated through the tariff revision translates into better water and sewerage services across the city.

Govt Fails to End Transporters Strike Ahead of Independence Day

The nationwide goods transporters’ strike has entered its sixth day, with government efforts to resolve the dispute yet to produce a breakthrough. Transporters have made it clear that they will continue their peaceful protest until their key demands are accepted and practical measures are taken.

The prolonged strike has raised concerns about the movement of essential goods and commercial supplies across Pakistan, particularly as the country prepares to observe Independence Day on August 14. The disruption could create additional pressure on businesses, markets and supply chains if the deadlock continues.

Government officials and representatives of the transport sector are scheduled to hold talks in Karachi on Thursday in an effort to find a solution. The meeting is expected to bring senior federal and provincial officials together with representatives of the transport industry.

The government delegation will include Federal Minister for Ports and Shipping Muhammad Junaid Anwar and Sindh Transport Minister Sharjeel Inam Memon. The Sindh chief secretary, Karachi commissioner, Karachi Port Trust chairman and Port Qasim Authority chairman are also expected to participate in the discussions.

The involvement of officials connected with Karachi’s major port facilities highlights the importance of restoring the transportation network. Karachi Port and Port Qasim play a major role in the movement of imported and exported goods, making the transport sector essential for wider economic activity.

All Pakistan Goods Transport Owners Association President Muhammad Owais Chaudhry Advocate said goods transporters across the country were continuing their protest peacefully. According to the association, the strike will not be called off unless the government accepts their demands and takes concrete steps toward implementation.

The dispute has created uncertainty for businesses that depend on road transportation to move goods between ports, industrial areas, warehouses and markets. A prolonged stoppage could also affect the availability and delivery schedules of various products.

With Independence Day approaching, pressure is increasing on both sides to reach an agreement. Government authorities are expected to use Thursday’s negotiations to address the concerns raised by transporters and prevent the strike from extending further.

For transporters, the focus remains on securing practical solutions rather than assurances. Their continued refusal to end the strike indicates that they want clear commitments and measurable action before returning to normal operations.

The outcome of the Karachi talks could therefore have wider implications for Pakistan’s logistics and supply chain system. If an agreement is reached, goods transportation could gradually resume and help businesses manage the disruption caused by the six-day strike.

If negotiations fail, however, the continuation of the nationwide transporters’ strike could increase pressure on commercial activity and supply chains. The coming discussions will be closely watched by traders, businesses, consumers and other stakeholders across the country.

Government Raises High-Speed Diesel Price by Rs. 1.39 Per Liter

The government has increased the price of high-speed diesel by Rs. 1.39 per liter, effective August 12, despite a slight decline in the product’s ex-refinery price.

Following the latest adjustment, the price of high-speed diesel has risen from Rs. 380.86 to Rs. 382.25 per liter. The increase has been attributed mainly to a higher petroleum levy imposed by the government.

The latest move comes as changes in petroleum prices continue to affect transportation, agriculture, logistics and other sectors of Pakistan’s economy.

According to the available pricing details, the ex-refinery price of high-speed diesel actually decreased by Rs. 0.61 per liter. It fell from Rs. 280.44 to Rs. 279.83 per liter.

However, the reduction in the ex-refinery price was more than offset by a Rs. 2 per liter increase in the petroleum levy. As a result, consumers are facing a net increase in the retail price of diesel.

The latest adjustment highlights the role of government levies in determining petroleum prices in Pakistan. While international oil prices and other market factors can influence the underlying cost of petroleum products, taxes and levies can significantly affect the final price paid by consumers.

High-speed diesel is widely used in Pakistan’s transport and agricultural sectors. Trucks, buses and other commercial vehicles depend heavily on diesel, while farmers also use diesel-powered machinery and equipment for various agricultural activities.

An increase in diesel prices can therefore have wider economic implications. Higher fuel expenses can raise transportation costs, which may eventually affect the prices of goods transported across the country.

The agriculture sector can also feel the impact when diesel becomes more expensive. Farmers using diesel-powered tractors, tube wells and other equipment may face increased operating expenses, particularly during periods of intensive agricultural activity.

The latest increase also comes despite the decline in the ex-refinery price, making the petroleum levy a key factor behind the adjustment. The Rs. 2 per liter increase in the levy effectively outweighed the Rs. 0.61 reduction in the underlying refinery-linked price.

For consumers and businesses, petroleum price revisions remain closely watched because fuel costs have a direct or indirect impact on household budgets and operating expenses.

The government regularly reviews petroleum prices based on several factors, including international market conditions, exchange rate movements, refinery prices and applicable taxes and levies.

With high-speed diesel now priced at Rs. 382.25 per liter, transport operators and other diesel users are likely to monitor future petroleum price decisions closely.

The latest development adds to ongoing concerns about fuel affordability and the broader cost of doing business in Pakistan. Any future changes in petroleum levies or international oil prices could influence the prices of diesel and other petroleum products in subsequent reviews.

SECP Launches Shariah-Compliant Brokerage Segment for Pakistan Stock Market

Pakistan’s capital market has taken a significant step toward expanding Islamic investment opportunities with the launch of a Shariah-compliant brokerage segment. The initiative by the Securities and Exchange Commission of Pakistan (SECP) will allow investors to access Shariah-compliant shares, Sukuk and Islamic exchange-traded funds (ETFs) through dedicated Islamic brokerage windows.

The new arrangement is designed to make Shariah-compliant investing more accessible to individuals who want to participate in the stock market while following Islamic investment principles. Under the initiative, dedicated Islamic brokerage windows have started offering services at 33 brokerage houses across Pakistan.

Through these specialized windows, investors can directly invest in securities that meet established Shariah compliance requirements. This creates a dedicated channel for investors who prefer financial products that align with Islamic principles.

The introduction of Islamic brokerage windows is expected to provide greater clarity and convenience for investors. Instead of navigating the broader brokerage market to identify suitable securities, investors can use dedicated services focused on Shariah-compliant investment options.

The segment covers a range of Islamic financial instruments, including Shariah-compliant stocks, Sukuk and Islamic ETFs. These products can provide investors with different ways to participate in Pakistan’s capital markets while maintaining their preferred investment criteria.

The SECP’s initiative also highlights the growing importance of Islamic finance in Pakistan. The country has a large population interested in financial products that comply with Islamic principles, creating significant potential for further development of the Islamic capital market.

For investors, the new brokerage structure could make the process of opening an investment account and accessing eligible securities more straightforward. Islamic brokerage windows can also help investors identify investment opportunities within the securities approved for Shariah-compliant investing.

The development comes as Pakistan continues to strengthen its Islamic finance ecosystem. Shariah-compliant financial products have gained attention across banking, investment and capital market sectors, with investors increasingly looking for alternatives that combine market participation with religious compliance.

The availability of Islamic ETFs may also broaden investment choices for people seeking diversified exposure to the stock market. Similarly, Sukuk can offer another investment avenue for individuals interested in Shariah-compliant fixed-income-style instruments.

The SECP’s move could encourage more investors to explore the Pakistan stock market, particularly those who previously remained outside the market because of concerns about Shariah compliance. Dedicated brokerage services may help address some of those concerns by providing access to eligible securities through specialized channels.

For existing investors, the Islamic brokerage segment could offer a more structured way to manage portfolios according to Shariah requirements. Investors should still review the specific securities, associated risks, fees and brokerage terms before making investment decisions.

With 33 brokerage houses already offering Islamic brokerage windows, the initiative represents an important development for Pakistan’s Shariah-compliant investment landscape. It could also support broader participation in the capital market and contribute to the continued growth of Islamic finance in the country.

Business Leaders Urge Government to Build More Predictable Tax System

Business leaders have called on the federal government to introduce a more predictable and transparent tax system, arguing that greater policy certainty is needed to encourage investment and support sustainable economic growth.

The demand was raised during a meeting between Advisor to the Finance Minister Khurram Schehzad and senior leadership of the Pakistan Business Council (PBC).

The meeting focused on several key economic issues, including tax reforms, privatization and broader structural measures aimed at increasing the role of the private sector in Pakistan’s economy.

Business representatives emphasized the importance of having a tax framework that businesses can understand and plan around. Frequent policy changes and uncertainty can make it more difficult for companies to make long-term investment and expansion decisions.

A predictable tax system can give investors greater confidence when evaluating new projects, expanding existing operations or entering new sectors. Business leaders believe greater consistency in government policies could help strengthen Pakistan’s investment environment.

The discussion also covered tax reforms, which remain a major part of Pakistan’s economic policy agenda. Improving tax administration and creating a more transparent framework could help reduce uncertainty for both businesses and the government.

The private sector has repeatedly stressed the need for reforms that improve the ease of doing business while ensuring that companies meet their tax responsibilities.

Privatization was another important issue discussed during the meeting. Increasing private-sector participation in the economy has been identified as one potential way to improve efficiency and attract investment into various sectors.

The business community also highlighted the importance of broader structural reforms. Such measures could help address longstanding economic challenges and create conditions for stronger private-sector growth.

For businesses, policy consistency is particularly important when making decisions that involve significant capital investment. Companies typically require clear expectations regarding taxes, regulations and government policies before committing funds to long-term projects.

A more transparent tax system could also improve communication between businesses and tax authorities. Clear rules and consistent implementation can reduce disputes and make compliance easier for companies.

The government, meanwhile, is facing the challenge of balancing revenue requirements with the need to encourage investment and economic activity.

A tax system that supports both revenue collection and business growth could play an important role in strengthening Pakistan’s economic foundation.

The meeting between government officials and the Pakistan Business Council reflects continued engagement between policymakers and the private sector over economic reforms.

Business leaders are now seeking greater clarity and consistency in tax policies, along with reforms that can improve investor confidence and encourage private-sector participation.

The outcome of future discussions could help shape Pakistan’s approach to taxation, privatization and structural economic reforms as the government works to promote long-term economic growth.

How to Apply for Rs. 1 Million Interest-Free Loan Under Apni Chhat Mehfooz Chhat Scheme

The Punjab government has opened online applications for the Apni Chhat, Mehfooz Chhat scheme, offering eligible families access to interest-free loans of up to Rs. 1 million for improving their homes.

The initiative is designed to help low-income households repair, strengthen or expand residential properties that may be unsafe, damaged or in need of additional construction.

The Apni Chhat, Mehfooz Chhat scheme operates under the broader Apni Chhat, Apna Ghar housing program, a Punjab government initiative focused on providing housing support to deserving families.

Eligible applicants can now submit their applications online through the official ACAG portal. The portal has been updated to include a dedicated application option for the Apni Chhat Mehfooz Chhat scheme.

Under the initiative, qualifying homeowners can use the interest-free financing for necessary improvements to their houses. This can include repairing deteriorated structures, strengthening unsafe portions of a home and expanding existing residential space.

The scheme could provide important financial support to families who own a house but do not have sufficient resources to carry out essential construction or repair work.

The interest-free nature of the loan is one of the key features of the program. Eligible applicants can receive financial assistance without the additional interest charges normally associated with conventional housing loans.

Applicants interested in the Rs. 1 million loan should use the official online application facility and provide the required information and documents during the application process.

Before submitting an application, individuals should carefully review the eligibility requirements and ensure that the information provided on the portal is accurate. Incomplete or incorrect information could affect the processing of an application.

The launch of the Apni Chhat, Mehfooz Chhat scheme expands the Punjab government’s housing assistance efforts by focusing not only on new homes but also on improving existing houses.

For families living in older or structurally weak homes, financial assistance for repairs and improvements can help create safer living conditions while reducing the immediate burden of construction costs.

The program is particularly relevant to low-income homeowners who may struggle to arrange a large amount of money for urgent repairs or home expansion.

People interested in applying should check the official ACAG portal for the latest eligibility criteria, application requirements and instructions before proceeding with their application.

The Punjab government’s housing initiatives continue to focus on making residential support more accessible to deserving households. The Apni Chhat, Mehfooz Chhat scheme provides another avenue for eligible families to obtain financial assistance for safer and improved housing.

As online applications are now available, eligible homeowners can review the requirements and apply through the designated portal for consideration under the scheme.

Gulshan-i-Iqbal Town Signs Sister-Town Agreement With Turkish Municipalities to Boost Urban Cooperation

Gulshan-i-Iqbal Town Municipal Corporation (TMC) has entered into a sister-town agreement with two municipalities in Türkiye’s Kastamonu province, opening a new avenue for cooperation between Karachi and Turkish local governments.

The agreement was signed with the municipalities of Inebolu and Araç. The initiative is aimed at strengthening municipal relations, sharing expertise and exploring new approaches to urban development and local government management.

Gulshan-i-Iqbal Town Chairman Dr. Fawad Ahmed signed the agreement during a ceremony held in connection with the new municipal partnership. Dr. Kamal Aydin, adviser to Turkish President Recep Tayyip Erdogan and president of the Ibn Sina Institute Türkiye, also signed the agreement on behalf of the Turkish side.

The ceremony was attended by several political, municipal and community representatives. Among those present were Karachi Metropolitan Corporation (KMC) opposition leader Advocate Saifuddin, Jamaat-i-Islami East district chief Naeem Akhtar, elected representatives and municipal officials.

The sister-town arrangement is expected to provide opportunities for Gulshan-i-Iqbal Town and the Turkish municipalities to exchange knowledge about urban planning, municipal services and local administration.

Such partnerships can help local governments learn from international experiences and identify practical solutions to common urban challenges. Karachi, as one of Pakistan’s largest cities, faces growing demands for better infrastructure, public services and sustainable urban management.

The agreement with Inebolu and Araç could therefore provide a platform for sharing Turkish municipal practices with local authorities in Karachi. Areas of cooperation may include urban development strategies, municipal administration, community services and other areas of local governance.

Türkiye has maintained strong relations with Pakistan for decades, with cooperation extending across political, economic, cultural and development sectors. Municipal-level partnerships can further strengthen these ties by creating direct channels for local institutions to collaborate.

For Gulshan-i-Iqbal Town, the agreement also represents an opportunity to expand its international engagement and develop relationships with municipalities outside Pakistan.

The participation of elected representatives and municipal officials at the signing ceremony highlights the importance of local government cooperation in addressing the challenges faced by rapidly growing urban communities.

International municipal partnerships can also encourage the exchange of ideas on smart-city development, environmental management, public spaces, waste management and efficient delivery of civic services.

The agreement with the municipalities of Inebolu and Araç marks another step toward strengthening people-to-people and institutional connections between Pakistan and Türkiye.

As cooperation develops, the partnership could lead to further exchanges, technical discussions and joint initiatives focused on improving municipal performance and urban development.

The Gulshan-i-Iqbal Town-Türkiye partnership is therefore significant not only for the participating municipalities but also for broader Pakistan-Türkiye relations at the local government level.

WorldCall Announces 10-for-1 Stock Split Following Capital Reduction

WorldCall Telecom Limited has completed a court-approved capital restructuring that has changed the nominal value of its ordinary shares from Rs. 10 to Rs. 1.

The company disclosed the completion of the restructuring to the Pakistan Stock Exchange (PSX) on August 10, 2026, following an order issued by the Lahore High Court on July 8.

The restructuring involved two connected steps. First, WorldCall reduced its paid-up ordinary share capital. The company then carried out a consequential stock split based on the revised share structure.

Under the stock split, each ordinary share with a nominal value of Rs. 10 remaining after the capital reduction was divided into 10 ordinary shares, each carrying a nominal value of Rs. 1.

The process means that the nominal value assigned to each ordinary share has been reduced by 90 percent, while the number of ordinary shares has been adjusted through the stock split.

A stock split generally increases the number of shares represented by each existing share while proportionally reducing the nominal value per share. It does not, by itself, change the underlying value of an investor’s overall holding.

In WorldCall’s case, the company stated that the capital restructuring was carried out under the Lahore High Court’s order. The two-stage process links the capital reduction with the subsequent subdivision of the remaining shares.

The company’s disclosure to the PSX provides investors with details of the completed restructuring and the revised nominal value of its ordinary shares.

The move is significant for shareholders because the company’s share structure has changed following the court-approved process. Investors may therefore need to take the revised share denomination into account when reviewing their holdings and company disclosures.

It is important to distinguish a stock split from a new share issuance. In a stock split, existing shares are subdivided into a larger number of shares with a lower nominal value per share.

The restructuring also differs from a situation in which a company raises fresh capital by issuing additional shares. The information disclosed by WorldCall relates to the reduction in paid-up ordinary share capital and the consequential subdivision of the remaining shares.

WorldCall Telecom’s latest disclosure comes amid continued attention to corporate restructuring and capital market developments in Pakistan.

The completion of the process marks the implementation of the Lahore High Court-approved restructuring plan. The company’s announcement gives shareholders and market participants clarity regarding the revised share denomination.

With each Rs. 10 ordinary share converted into 10 shares of Rs. 1 each following the capital reduction, WorldCall now has a different nominal value structure for its ordinary shares.

Investors should refer to the company’s official disclosures and PSX information for any further details concerning the implementation of the restructuring and its effect on their individual shareholdings.

LESCO System Outage Delays New Electricity Connections

A prolonged technical issue in the Lahore Electric Supply Company’s (LESCO) Enterprise Resource Planning (ERP) system has disrupted operations and delayed the issuance of essential equipment required for new electricity connections.

The LESCO ERP system has reportedly remained out of service for seven days, affecting material issuance at offices across the company’s network.

The technical fault has created difficulties for the distribution company in processing requests for equipment needed to provide new electricity connections.

According to reports, the system outage has prevented the issuance of transformers, electricity meters, poles and other essential materials. These items are necessary for completing various electricity connection and distribution-related works.

The disruption could affect customers who are waiting for new electricity connections, particularly where the required equipment has not yet been issued by LESCO.

The ERP system plays an important role in managing internal processes, including the tracking and issuance of materials. When such a system becomes unavailable, routine operational activities can face delays.

For LESCO offices, the outage means that staff may be unable to complete material-related procedures through the normal digital system. This can affect the progress of work orders and requests that depend on the availability of equipment.

New electricity connections often require several stages of processing, including approval, material allocation, installation and connection. A delay in material issuance can therefore slow down the overall process.

The impact of the outage may extend beyond new connections, depending on how long the technical problem continues and which other material management functions are affected.

Customers awaiting electricity connections may consequently face additional waiting periods until the ERP system is restored and the issuance of required equipment resumes.

LESCO is responsible for electricity distribution across Lahore and surrounding areas, making the smooth functioning of its operational systems important for a large number of consumers.

Digital systems have become increasingly important for utility companies because they help manage inventories, work orders and other operational processes. Extended outages can therefore have a direct effect on service delivery.

The reported seven-day disruption highlights the importance of maintaining reliable digital infrastructure for essential public utility operations.

A timely restoration of the ERP system would allow LESCO offices to resume normal material issuance and help clear pending requests for transformers, meters, poles and other equipment.

Customers affected by the delay will likely be watching for updates on when the system becomes fully operational and when pending material requests can be processed.

The outage has added another challenge for consumers seeking new electricity connections, with the resolution of the technical fault now important for restoring normal operations across affected LESCO offices.

Lahore to Hold Mega Concert, Fireworks and Rallies for Independence Day 2026

Lahore is preparing for a series of public events to mark Pakistan’s Independence Day 2026, with celebrations planned at different locations across the city. The program includes rallies, sports competitions, musical activities and other public events.

The Independence Day celebrations in Lahore are scheduled to continue from August 9 to August 23, giving residents several opportunities to take part in activities organized to mark August 14.

According to reports, the festivities began on August 9 with a bicycle rally. The event marked the start of a wider series of activities planned as part of Lahore’s Independence Day celebrations.

A motorbike rally is scheduled to take place in Defence on August 10. Such rallies are expected to bring together motorcycle enthusiasts and residents as part of the city’s preparations for Independence Day.

Sports activities are also an important part of this year’s program. A karate tournament is scheduled for August 11 at the Nishtar Park Sports Complex, adding a competitive element to the celebrations.

Wrestling and powerlifting competitions are also included in the planned activities. These sporting events are expected to provide opportunities for athletes to participate in the Independence Day festivities while promoting physical fitness and sporting talent.

The broader schedule reflects an effort to make Independence Day celebrations more diverse by combining traditional patriotic activities with sports and entertainment. Lahore, one of Pakistan’s largest cultural centers, regularly hosts large public events during national celebrations.

The program is expected to build momentum as August 14 approaches, with rallies and other activities forming part of the city’s wider Independence Day atmosphere.

Musical programs and a major concert are also among the activities associated with the celebrations. Fireworks are expected to add another entertainment element to the festivities, although specific details about venues and timings should be confirmed through official announcements.

Independence Day is celebrated across Pakistan every year on August 14 to commemorate the country’s independence in 1947. Lahore traditionally observes the occasion with public gatherings, decorations, cultural activities and community events.

For residents, the extended schedule from August 9 to August 23 means that Independence Day-related activities will continue beyond the main national holiday. The range of events also provides different ways for families, young people, athletes and entertainment enthusiasts to participate.

People planning to attend public events in Lahore should check official updates for confirmed timings, locations and any changes to the schedule. Details for major gatherings can sometimes be adjusted because of traffic arrangements, security measures or other administrative requirements.

With sports competitions, rallies, musical programs, a mega concert and fireworks included in the reported plans, Lahore is set for a lively Independence Day season in 2026. The events are expected to add to the city’s festive atmosphere as Pakistan prepares to celebrate its 79th Independence Day.

PTCL and PPAF Provide Safe Drinking Water to 150,000 People Ahead of Pakistan’s 79th Independence Day

Pakistan Telecommunication Company Limited (PTCL), in collaboration with the Pakistan Poverty Alleviation Fund (PPAF), has completed a major clean drinking water initiative that is bringing sustainable access to safe potable water to more than 150,000 people in the water-scarce regions of South Punjab and Sindh.

Launched as part of Pakistan’s 79th Independence Day celebrations, the project reflects a shared commitment to improving the lives of vulnerable communities while addressing one of the country’s most pressing environmental and public health challenges.

The initiative focuses on communities whose water sources were severely damaged or contaminated during the devastating floods of 2024. By restoring access to clean drinking water, the project aims to reduce waterborne diseases, improve public health, and strengthen climate resilience in affected areas.

To ensure long-term sustainability, the project includes a range of climate-resilient water solutions. These include Reverse Osmosis (RO) plants, rainwater harvesting systems, bio-sand filters, hand pumps, and tube wells, enabling communities to access reliable and safe drinking water despite changing environmental conditions.

The latest initiative builds on the success of PTCL’s earlier clean water program in Thar, which benefited more than 15,000 people. Following the positive results of that project, the company expanded its efforts by deploying more advanced water technologies across a broader geographical area in partnership with PPAF.

PTCL said the initiative aligns with its long-term vision of creating shared value by addressing critical social and environmental issues while contributing to Pakistan’s sustainable development goals. The project also marks the company’s own 79-year journey of connecting people and supporting national progress beyond its telecommunications business.

Speaking about the initiative, Nadeem Khan, Chief Executive Officer of PTCL, emphasized that access to clean drinking water is a fundamental human need. He said the company felt a responsibility to support communities after the 2024 floods left thousands of families without safe water, adding that PTCL remains committed to contributing to a stronger, more resilient, and inclusive Pakistan.

Nader Gul Barech, Chief Executive Officer of the Pakistan Poverty Alleviation Fund, highlighted the importance of strategic partnerships in addressing climate-related challenges. He noted that access to safe drinking water is essential for improving public health, livelihoods, and community resilience, adding that the collaboration with PTCL is helping deliver sustainable development solutions for vulnerable populations.

The clean water initiative forms part of PTCL’s broader ‘DilSe’ sustainability platform, which focuses on improving quality of life through projects promoting digital inclusion, economic resilience, and community development. The platform supports initiatives designed to create lasting social impact while contributing to national development priorities.

Experts believe access to safe drinking water remains one of Pakistan’s most critical development challenges, particularly in regions affected by climate change, drought, and flooding. Sustainable water infrastructure not only improves public health but also strengthens local economies by reducing healthcare costs and improving overall quality of life.

As Pakistan celebrates another year of independence, PTCL and PPAF’s partnership demonstrates how collaboration between the corporate and development sectors can help address pressing national challenges. By investing in resilient water infrastructure, the initiative is expected to create lasting benefits for thousands of families while supporting the country’s broader climate adaptation and sustainable development efforts.

Mari Energies Reports Record Rs. 87.1 Billion Profit for FY2026, Announces Higher Dividend

Mari Energies Limited has posted its highest-ever annual profit, reporting a standalone net profit of Rs. 87.1 billion for the financial year ended June 30, 2026. The impressive financial performance reflects the company’s continued strength in Pakistan’s energy sector despite higher royalty expenses during the year.

According to the company’s financial results announced on Friday, net profit increased significantly from Rs. 65.1 billion recorded in FY2025. Earnings per share (EPS) also rose to Rs. 72.52, compared with Rs. 54.25 in the previous financial year, highlighting strong profitability and improved returns for shareholders.

The company’s Board of Directors recommended a final cash dividend of Rs. 18.70 per share. Combined with the interim dividend of Rs. 8.30 per share already distributed during the year, the total cash dividend for FY2026 amounts to Rs. 27 per share.

The dividend announcement is expected to be welcomed by investors, as it reflects the company’s robust financial position and confidence in its long-term business outlook.

Mari Energies also reported an operating profit of Rs. 82.6 billion, compared with Rs. 81.4 billion in the previous year. The increase came despite the company incurring an additional royalty charge of Rs. 8.5 billion following the implementation of Rule 35 of the Pakistan Onshore Petroleum (Exploration and Production) Rules, 2013.

The additional royalty expense increased operational costs, yet the company successfully maintained profitability through strong business performance and operational efficiency.

The financial results also benefited from the reversal of Super Tax following a judgment by the Federal Constitutional Court of Pakistan. The company stated that this legal development positively impacted its annual earnings and contributed to the record profit reported for the fiscal year.

Mari Energies remains one of Pakistan’s leading exploration and production companies, playing a vital role in meeting the country’s natural gas and energy requirements. The company continues to invest in exploration activities, production expansion, and operational improvements aimed at strengthening Pakistan’s domestic energy supply.

Analysts believe the record earnings demonstrate the resilience of the company’s business model despite regulatory changes and evolving market conditions. Higher profitability and generous dividend payouts are also expected to strengthen investor confidence in Pakistan’s energy sector.

The company’s strong financial performance comes at a time when Pakistan is placing greater emphasis on increasing domestic energy production to reduce reliance on imported fuels and improve long-term energy security. Exploration and production companies like Mari Energies remain central to achieving these national objectives.

Investors will now closely monitor the company’s future exploration projects, production growth, and financial performance as it seeks to build on its record-breaking FY2026 results. Continued operational efficiency, favorable regulatory developments, and sustained demand for domestic energy resources are expected to remain key drivers of future growth.

Oil Prices Rise After Pakistan’s Defense Cooperation With Saudi Arabia and Turkey Amid Middle East Tensions

International oil markets moved higher after Pakistan, Saudi Arabia, and Turkey announced a new defense cooperation agreement, while renewed security concerns in the Middle East added further pressure to global energy prices. Investors closely monitored the latest geopolitical developments, which once again highlighted the sensitivity of oil markets to regional instability.

At the time of reporting, Brent crude was trading around $84 per barrel after climbing toward the $90 mark during intraday trading. Meanwhile, West Texas Intermediate (WTI) crude gained momentum and hovered near $80 per barrel as traders responded to the evolving situation.

The rise in oil prices came shortly after Pakistan, Saudi Arabia, and Turkey unveiled a new defense cooperation framework aimed at strengthening military collaboration and regional security. Although the agreement is primarily focused on defense and strategic partnerships, financial markets quickly reacted as investors evaluated its broader geopolitical implications.

Energy markets have historically responded to political and military developments across the Middle East because the region remains one of the world’s largest oil-producing hubs. Any event that increases uncertainty around energy infrastructure or shipping routes often leads to higher crude prices as traders factor in potential supply disruptions.

Adding to market concerns, Yemen’s AnsarAllah launched an attack targeting Saudi Arabia’s southern province of Najran. The incident marked another escalation in the long-running regional conflict and renewed fears about the safety of Saudi Arabia’s energy facilities.

Saudi Arabia remains one of the world’s leading oil exporters, making the security of its production sites and infrastructure a key concern for global markets. Even isolated security incidents can influence investor sentiment, especially when geopolitical risks are already elevated.

Analysts noted that while global oil supply has remained relatively stable in recent weeks, markets remain highly sensitive to unexpected developments in the Gulf region. The combination of defense cooperation announcements and fresh security incidents prompted traders to reassess risk premiums, pushing crude prices higher during the trading session.

The latest price movement also reflects growing caution among investors who continue to monitor diplomatic efforts and regional military activity. Market participants are keeping a close watch on whether tensions remain contained or evolve into broader disruptions that could impact oil production or transportation.

For Pakistan, the newly announced defense cooperation with Saudi Arabia and Turkey underscores the country’s expanding strategic partnerships. While the agreement is centered on defense collaboration, its announcement coincided with heightened regional tensions, leading investors to interpret the developments within a wider geopolitical context.

Energy experts believe oil prices could remain volatile in the coming days as markets digest fresh information from the Middle East. Any additional security incidents, diplomatic breakthroughs, or policy announcements from major oil-producing nations could significantly influence price movements.

Global consumers and businesses are also watching crude prices closely, as sustained increases often translate into higher fuel costs, transportation expenses, and inflationary pressures. Countries that rely heavily on imported energy may experience additional economic challenges if oil continues its upward trajectory.

As geopolitical developments continue to unfold, investors will remain focused on regional stability, energy infrastructure security, and international diplomatic efforts. These factors are expected to play a major role in determining the direction of global oil prices in the weeks ahead.

Mughal Steel Raises Rs. 2 Billion Through Sukuk Issuance to Support Business Expansion

Mughal Iron & Steel Industries Limited (PSX: MUGHAL) has successfully raised Rs. 2 billion through the issuance of its Sukuk VIII, marking another significant development in Pakistan’s corporate financing market. The company announced the completion of the transaction through a notice submitted to the Pakistan Stock Exchange (PSX).

The privately placed Sukuk is an A-rated, secured, OTC-listed, mid-term Islamic financing instrument offered to Qualified Institutional Buyers (QIBs). The successful issuance reflects continued investor confidence in established industrial companies and highlights the growing role of Shariah-compliant financing options in Pakistan’s capital market.

According to the company, the three-year Sukuk was issued to fulfill its working capital requirements. The transaction was completed on August 5, 2026, which also served as the official issue date for the financing instrument.

The total size of the Sukuk issuance is set at up to Rs. 2.5 billion, including a Green Shoe Option of Rs. 500 million. The additional option provides flexibility to increase the issue size if there is sufficient investor demand during the offering period.

Mughal Iron & Steel Industries is one of Pakistan’s leading steel manufacturers, operating in a sector that plays a critical role in construction, infrastructure development, and industrial growth. Access to additional working capital is expected to support the company’s operational needs and help manage financial requirements related to its business activities.

The use of Sukuk financing has become increasingly important in Pakistan’s corporate sector as companies seek alternatives to conventional borrowing methods. Sukuk allows businesses to raise funds while providing investors with opportunities to participate in asset-backed and Shariah-compliant investment products.

Market analysts believe the successful completion of Mughal Steel’s Sukuk issuance demonstrates continued appetite among institutional investors for quality corporate debt instruments. Strong demand for such offerings can help companies diversify their financing sources and reduce dependence on traditional banking channels.

The transaction also reflects the development of Pakistan’s Islamic capital market, where Sukuk instruments have gained popularity among businesses, financial institutions, and investors. These instruments provide companies with access to long-term funding while aligning with the preferences of investors seeking Shariah-compliant opportunities.

For Mughal Steel, the additional funds are expected to strengthen liquidity and support day-to-day operational requirements. Working capital availability is particularly important for industrial companies, where raw material costs, production cycles, and market demand can significantly influence financial performance.

Pakistan’s steel industry has faced various challenges in recent years, including fluctuating raw material prices, energy costs, and changing market conditions. Companies in the sector continue to focus on improving efficiency, managing costs, and securing financial resources to maintain competitiveness.

The successful Sukuk issuance by Mughal Steel comes at a time when Pakistan’s corporate sector is increasingly exploring capital market solutions for growth and financial stability. As investor confidence improves, more companies may consider similar financing options to support expansion plans and operational needs.

With the completion of Sukuk VIII, Mughal Iron & Steel Industries has strengthened its financial position while contributing to the continued growth of Pakistan’s Islamic finance and corporate debt markets.

Pakistan Relegated from 2026-27 FIH Pro Hockey League After Disappointing Campaign

Pakistan’s men’s hockey team will not feature in the 2026-27 FIH Hockey Pro League after being relegated following a disappointing performance in the previous season. The International Hockey Federation (FIH) has officially unveiled the schedule for the upcoming edition, with Pakistan notably absent from the list of participating nations.

The new Pro League season is set to begin on December 8, 2026, in Argentina, where the world’s top hockey nations will compete in one of the sport’s premier international tournaments. Pakistan’s absence marks another setback for a team striving to regain its place among the elite in international hockey.

Pakistan was relegated after finishing at the bottom of the standings during the 2025-26 FIH Pro League campaign. A series of disappointing performances left the Green Shirts unable to secure enough points to retain their place in the competition, bringing an early end to their Pro League journey.

The relegation is a significant blow for Pakistan hockey, which has a rich history as one of the sport’s most successful nations. Once considered a global powerhouse, Pakistan has won multiple World Cups, Olympic medals, and Asian titles. However, in recent years, the national team has struggled to consistently compete with the world’s leading hockey nations.

The FIH Hockey Pro League serves as an elite annual competition featuring the highest-ranked international teams. Participation provides valuable opportunities to face top-quality opposition on a regular basis, helping players gain experience while improving team rankings and competitiveness.

Missing out on the 2026-27 season means Pakistan’s players will lose a crucial platform to compete against the world’s strongest teams. The absence could also affect the team’s international rankings and preparations for future major tournaments, including continental championships and World Cup qualification events.

Despite the setback, Pakistan hockey officials will likely focus on rebuilding the national team through domestic development programs, improved player preparation, and stronger performances in upcoming international competitions. Developing young talent and investing in grassroots hockey remain essential if Pakistan hopes to return to the Pro League in the coming years.

The announcement also highlights the increasing competitiveness of international hockey. Teams are investing heavily in coaching, sports science, and professional development, making it increasingly difficult for traditional hockey nations to maintain their status without consistent long-term planning.

Pakistan’s recent performances have shown glimpses of potential, but inconsistency has prevented the team from achieving sustained success at the highest level. Analysts believe improvements in fitness, tactical discipline, and domestic hockey infrastructure will be vital for restoring Pakistan’s competitiveness.

The upcoming Pro League season will feature many of the world’s leading hockey nations battling for international supremacy, while Pakistan will instead focus on rebuilding its squad and preparing for future qualification opportunities.

For Pakistani hockey fans, the team’s absence is disappointing, but it also serves as a reminder of the work required to revive one of the country’s most celebrated sporting traditions. With the right investment, planning, and player development, many supporters remain hopeful that Pakistan can once again earn its place among the world’s hockey elite.

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